Governance

Is It Time to Create a Family Constitution?

When and how should families create a constitution? What should that document look like? Avery Fontaine, head of Hawthorn Purpose for multifamily office PNC Private Bank Hawthorn, shares tips for getting it right.

Grupo de Sola: Governing a Diverse Family Enterprise

Alicia Gerrits de Sola is a fourth-generation family member and trusted advisor to her family’s El Salvador-based enterprise, Group de Sola. She underscores the importance of structured governance, inclusive decision-making, and maintaining family values to ensure the enterprise's success and adaptability across generations.

Effective Family and Family Office Governance

If you’re looking to have an executive serve double duty as a family office leader, you need to have a fairly mature family office concept and business model. Ryan Agre, vice president of finance and family office for Vermeer Corporation, explains how effective governance provides a strong foundation for his dual role.

How Functional, Rather Than Legal, Governance Can Help Families

In a family office with unevenly distributed shares among branches, transitioning toward functional governance aims to equitably balance voices and decision-making power despite legal ownership disparities.

The Power of the Family Office Board

A majority of family offices, especially larger ones, utilize a board of directors or advisors for assistance and guidance. These boards play a crucial role in making fundamental decisions about the family office's services and structure, as well as in mediating disputes and maintaining harmony within the family, as evidenced by the practices in organizations like Downtown Capital Partners, LLC.