Successful enterprising families continuously manage through the lifecycle of their family and wealth with careful planning. Family business succession planning, for example, can be particularly important to have during times of transition. Working alongside you and your family members, we can develop an effective governance system to assist with seamless transition and manage complex changes as they arise.

As part of your family office strategy, our family advisors can facilitate the often-sensitive discussions with clear frameworks and processes. This approach allows us to co-create solutions and outcomes that are aligned to you and your unique family and family business dynamics. When effective dynamics and governance is in place, business and wealth decisions can be enhanced and the risk of family conflict is reduced, helping you and your family members achieve long-term success and harmony.

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How we can help

Family dynamics

Our family office governance services start with family dynamics. KPMG Family Office works closely with your family to fully understand your relationship patterns and history, helping to establish processes that promote cohesive relationships. We help facilitate alignment around your family's shared purpose, developing communication and conflict management frameworks to nurture cohesion, culture and values among you and your family members.

Transition and continuity planning

Our dynamics and governance advisors support the entire planning process when it comes to family business succession planning and/or management of your family business and wider wealth. We assist in a seamless transition of ownership that ensures wealth is preserved and positioned for future growth and success.

Learning and development

KPMG Family Office can help create and implement bespoke learning and development plans that foster the building of skills and capacities you and your family members may need to successfully engage as future family business owners, stewards, leaders and inheritors of the family's wealth.

Governance

Every family should have clear objectives and their own definition of success. We help determine which family office governance structure will support the realization of your aspirations. We support the review and enhancement of existing family business governance and help establish new policies, processes, and structures to align with your objectives.

Family enterprise board advisory

Receiving outside guidance and advice through boards and/or councils is central to your family business. KPMG Family Office brings knowledge, experience and perspective to support the evolution of Family Councils, Boards of Directors, Advisory Boards and Ownership Councils with particular focus on roles and responsibilities, effective communication practices, decision-making processes, performance evaluations and compensation frameworks.

Meeting facilitation and retreats

Fostering clear and open communication among family members is vital. KPMG Family Office supports you in the planning and facilitation of personalized family meetings and family/business/board retreats that are meaningful, impactful and supported by the appropriate resources. Our focus is on helping attending stakeholders be informed, prepared, equipped, and engaged as they tackle areas like strategy development, bespoke training, and family dynamics.

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Frequently asked questions (FAQs)

When family, business and ownership are connected, the lines are often blurred and relationships may be impacted. Effective family office governance serves as the foundation of a successful family business: it can reduce conflict among family members and help ensure all decisions are made in the best interest of the business. Governance encompasses the structures, policies, processes and frameworks that are required to achieve your shared purpose. It includes everything from how a family business wants to be organized as a family and as a business, to the roles and responsibilities of individual family members, and the boundaries between the interconnected groups.

How to create a family business succession plan is a question every business owner must ask, as it's challenging to know where to start. Successful succession planning begins with having the conversation. Have an open dialogue with your potential successors to communicate and set mutual goals and expectations. From there, develop a clear vision with alignment from family members and successors. When obstacles arise, your agreed-upon vision can help get everyone back on track.

When working with you and your family members, our trusted advisors gather feedback, clarify underlying concerns and objectives, guide stakeholders and develop insights that document areas of alignment and misalignment. Additionally, we can share our own experiences and insights from working with families in similar situations and help you define your shared purpose. From there, we establish effective family business governance through the structures, policies, processes and frameworks that are required to achieve your desired definition of success.

Developed at Harvard Business School in 1978, the Three-Circle Model of the Family Business System shows three interdependent and overlapping groups: family, ownership and business. With the overlapping circles there are seven distinct interest groups or stakeholders, each with its own viewpoints, goals, concerns and dynamics. The long-term success of a family business depends on the functioning and mutual support of each of these groups.