It is our experience that effective family governance often conveys a sense of purpose and direction to all family members and gives a surety that when collective decisions are made in a timely manner, they are more likely to achieve the family mission and goals in a fashion desired by all family members.
At TwinFocus, we customize effective Family Governance processes to deal with the unique needs of each of our Family Office clients and their individual members. Once our Family Office clients create their mission statement, its successful implementation becomes just as critical. Our next major task is to develop a framework of family governance procedures and management that defines how family decisions are made and executed in order to preserve and grow the family’s wealth efficiently and effectively and in accordance with the family’s values, goals and overall mission.
In order to govern effectively, however, we also oversee and monitor the task of coordinating and facilitating family meetings and strengthening family communications. In fact, our team members become integral participants to those meetings. When disputes arise, we help families reach collective decisions through family coaching, compromise and other forms of dispute resolution.
Lastly, an essential part of every family governance system is the encouragement of leadership and stewardship within families to ensure smooth continuity and transition development. As with every organization, leaders are required to take on responsibility and move the organization in a direction consistent with the organization’s mission and wishes of its shareholders.