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Fairport Minding Your Business Article

Minding Your Business
Articles for Entrepreneurs & Those Who Serve Them

The Value of Multigenerational Family Meetings

Success and the wealth it creates can sow the seeds of its own destruction. As your wealth grows, so does the potential for that money to build walls, create conflicts and lead to poor financial decisions that can reduce a family’s financial position and even ruin relationships. That’s especially true for families who are in business together and want to keep the business and the family performing well with each generation. The family meeting is one of the most effective tools to preempt and mitigate negative outcomes.

Underlying objectives of a family meeting include:

  • Family cohesiveness
  • Superior management of the family’s future across the generations
  • The preservation and growth of the family wealth

This brief article shares four steps to a successful family meeting. Intrigued? Contact us to learn how we’ve helped clients plan and facilitate meaningful family meetings and let’s discuss how to use with your family.


For more information on how Fairport inspires business owners and their families, contact:

Andrew R. Connors, CFP®, CEPA
Business Owner Leader
Partner, Fairport LLC

(216) 431-2754
 

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This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.

All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.

This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of HighTower Advisors, LLC, or any of its affiliates.