Family Businesses

February 5, 2024by RKS Editor0

While family offices play a critical role in facilitating the transition of wealth, management, and values across generations within families, an integral part of managing a family’s wealth and business affairs is implementing family governance structures, processes and policies to ensure that family members are aligned in their objectives and values.

Sindy Wong recently spoke with mainland Chinese publication Guandian about the importance of family governance, including how it can ensure the sustainability of family businesses and facilitate a smooth succession of generational wealth. She believes family governance is often overlooked when family offices are set up, stressing that family governance should be incorporated into family offices to ensure the family’s wealth continues to thrive and that its legacy endures. Family constitution is often a good starting point to family governance, which can provide a good platform for communication and succession.

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RKS Editor

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