Earlier this month I participated in an annual conference, “The Purposeful Planning Rendezvous,” in Denver. This was again an outstanding opportunity to meet other advisors with similar values. We also learned from thought leaders like James E. Hughes, author of Family Wealth: Keeping it in the Family, and of Family – The Compact Among Generations. The participants not only had intentions—but also passion and experience—to collaboratively and creatively guide legacy families and families in business.

Creating collaborative teams for the business families we serve is a core value in our work at the Center. We help create and lead many “Transition Advisory Councils” (TAC Teams). The families build their teams of carefully selected, highly competent, and deeply committed advisors who work collaboratively with other advisors and the family. In coordination, they plan and execute transition plans which reflect each family’s unique goals.

Instead of advisors working in silos (the norm), TAC Teams provide powerful, integrated, multi-disciplinary counsel. These too rare examples of professional collaboration respect the natural complexities faced by business families. They also actively work together to harness the high octane energy which lies within the remarkable families whom we are privileged to work. Professionals are inadvertently trained to work in silos, and are sometimes initially tentative about the TAC process. We have found the BEST advisors are eager to participate in the TAC process, though, and enthusiastically welcome the opportunity to contribute to and learn from advisors AND families. It’s a win-win-win for the family, the business, as well as the advisors.

Is your advisory team (i.e., family business advisor, accountant, attorney, financial planner, risk management professional) working together collaboratively? Imagine the potential power of a highly collaborative TAC team working together to prepare your family for another generation of success.

Real Stories at Purposeful Planning Event

You will have the opportunity to hear firsthand the heart and wisdom of a national leader of professional collaboration, and the producer of the Rendezvous. John A. Warnick will be the key presenter at our September 27 Morning Forum! John A., a “recovery attorney,” will share real stories of parenting, wealth, & legacy—stories of purposeful planning. You will want to hear these stories of business families who are intentional in passing on their values as well as their financial capital. And you will hear stories from real families in our community! I encourage you to register today.

Sally Derstine

Managing Partner, Senior Family Business Advisor

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