Business and Family Communications

This well-known expression is quite relevant when considering family relationships: “You can’t live with them, you can’t live without them.” Many families are confronted with this stressful scenario primarily during holidays and get-togethers. For families in business or families of wealth who must deal with each other on a much more frequent basis, the stress levels can magnify exponentially.

Family members develop patterns of behaviour that repeat themselves over and over again.  As a result, we often get frustrated with certain relationships or avoid dealing with situations that only get worse over time.  Families not sharing significant assets together often resolve issues through avoidance. Families sharing assets together do not have that option. 

Equitas’ consultants have expertise in different areas, but the one thing we have in common is the experience and the confidence of dealing with families. Whether it is by getting family members to focus on ownership or business or legacy issues, we pride ourselves in our ability to guide the family through some of its roughest patches.

It has been our experience that most family-related issues can get resolved with some communications assistance.  What families often think of as “dysfunctional” behaviour is usually nothing more than typical family dynamics at work. These families often need some help steering them in the right direction and that is where Equitas typically comes in. 

One example of our Business & Family Communications service is facilitating business family meetings where family members not involved in the business have an opportunity to learn about the business and provide their input as appropriate. Other examples include Wealth Transition Planning where we facilitate discussions between parents and their adult children about family members’ interests and involvement in the family wealth, Legacy Planning, and Philanthropy Planning.   

In the more serious cases, we bring in our family counsellor who works with the family members involved to help bring them to the point where they can carry on their relationship in a way that minimizes the damage to the business and the family wealth.

Share |

60% of Family Transitions fail due to a breakdown in trust and communication.