Think of family governance, the decision-making and leadership processes that enable wealthy families to achieve shared goals, as a premium value-add for high and ultra-high net-worth clients.

"Advisors should remember that families measure success differently," says Jane Flanagan, senior consultant at Family Office Exchange specializing in family governance, "Advisors tend to think of numbers on a report card, but families are often more interested in intangibles. For them, having peace of mind and family harmony is a definition of success."

Register or login for access to this item and much more

All Financial Planning content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access