On this episode of The Family Business Voice, François de Visscher talks about the important shift in mindset that can help families grow, manage, and safeguard their long-term wealth. Francois and Ramia also discuss the core values and other intangibles that families should consider when defining their wealth, how family members can support the transition from business owners to wealth owners, and the psychological impediments that get in the way.
François de Visscher is the founder of de Visscher Advisors, one of the world’s leading independent financial consulting firms for family businesses owners. He’s also the Co-founder of FODIS, which specialises in direct investing for family offices.
Read the full article here.
-Families should take a ‘portfolio view’ of their wealth using a green, yellow, and red labelling system identifying activities that should continue, change, or halt, given current market or economic conditions.
-The assets in a portfolio should work toward the goal of stability, growth, or agility depending on the opportunities a family wishes to leverage or the uncertainty it hopes to sidestep.
-Risk is an important consideration when families are determining a course of action, but avoiding risk altogether can leave families just as exposed — stuck in traditional models that will inevitably become obsolete. Instead, families should stay close to their core competencies when approaching risk, fully understanding why it’s necessary and how it will lead to advancement.