The right reasons – and a big wrong one – for starting a family office
When should an enterprising family seek help? When they’re overwhelmed by complexity, for one.
Business transitions: Thoughts on replacing the irreplaceable executive
Even when a transition is unhurried, new bosses at family businesses tend to fail. How to make them thrive instead.
Survey says: When should family office say ‘sayonara’ to a client?
Three experts tell what it would take to 'fire' a client – and why effective onboarding can mean never having to say goodbye.
Giving money as a gift? Here are the who, how and tax considerations
There are many things to consider when giving a financial gift, including the emotions that can go along with it.
Dear Mom & Dad: Speaking of Entitlement…
One of the most commonly used and effective tax strategies in Canada is the use of a family trust for multiplying the Lifetime Capital Gains Exemption (LCGE). This strategy enables family members, usually parents or grandparents, to multiply the capital gains exemption with children or other family members in order to reduce the overall tax liability.
They thought they were set for life: How a fortune was frittered away
It takes courage for advisors to tell affluent clients they’re living beyond their means. How a Canadian tech entrepreneur went from boom to almost bust in just a few years.
Family Favouritism: The case for nepotism in business
We view it as distasteful, but bringing family members onboard a business is historically advantageous. Nepotism in certain contexts may explain why humanity has survived for centuries
Judging kids of wealthy families causes damage that can last a lifetime
Passing judgment, subtly or not, shapes children’s views of themselves and the world around them. Youngsters will be exposed to some sort of wealth judgment at an early age, with or without their parents present.
Family guardians keep wolves at bay – unless they’re already inside the fence
The case of Marie, who needed a gatekeeper to protect against the brother she couldn’t say ‘no’ to. In family financial matters, gatekeepers can be essential within a family office structure.