Capital Club Best Practices for Managing Conflict in Family Offices
Andy Busser is the President of Family Office at Pitcairn, a 100 year-old family office serving more than 100 families around the United States. Andy has been working with wealthy families as a management consultant, private equity investor, and family office executive for more than 20 years and brings a broad range of perspectives to America's leading families of wealth.
Listen in!
Key Highlights:
[00:01 - 12:51] Conflict in Families: How to Manage It
- Andy discusses the different types of family conflict and how to manage them
- How conflict is inherent within families and can be exacerbated by wrath
- Best practices for managing conflict, including pre-planning, finding a sounding board, and staying calm
[12:52 - 18:04] Tips for Preventing Family Conflict
- Why the best practice for family conflict resolution is to have a mix of internal and external experts
- Having a third party help, such as a therapist or psychologist, can be hugely helpful
- Why it is important to find common ground with ancestors in order to create a vision for the future of the family
[18:05 - 30:09] Choosing the Right Family Office Platform
- Having a third party help, such as a therapist or psychologist, can be hugely helpful
- The number one issue families face is succession planning
- Why kids need opportunities to engage in responsibility, such as through a family council or committee
[30:10 - 31:30] Closing Segment
Key Quotes:
“The best thing you can do is prepare yourself and… Write down what the issues are and don't be afraid to write them down two or three times.” - Andy Busser
“Start with yourself and just look inward and ask yourself, what might I be doing that contributes to the conflict?“ - Andy Busser
Connect with Andy:
LinkedIn: https://www.linkedin.com/in/abusser/
Website: www.pitcairn.com
Connect with me on LinkedIn!
LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON!
Hosted on Acast. See acast.com/privacy for more information.