On Tuesday August 28, Fidelity Investments promoted Abigail Johnson to run the company’s main business functions – a move CNBC describes as “the strongest signal yet that she could be the next leader of the mutual fund powerhouse founded by her grandfather.” If CNBC is correct, Johnson will eventually take the reins from her father […]
There may be a wide variety of tools to better your family business, but nothing has proven more impactful than peer-to-peer forum groups. At The Peer Alliance, we’re taking the concept of forum to a specific audience: Family Enterprise.
Beginning today, The Peer Alliance blog will be periodically featuring a video blog on Fridays — a chance for our senior management to communicate directly to our members in a conversational format.
Following The Peer Alliance’s Summer Kickoff event at Legal Harborside in Boston, MA — Paul and David Karofsky reflect on the event in this short video. The following is a transcription for the above video.
In this video interview, Paul Karofsky and David Karofsky describe what has helped them to work together effectively — and what steps can help other parents and their adult children to succeed. For example, the different generations may have differing expectations regarding “standard” working hours versus a more flexible work schedule. Or there may be differences […]
In general, we discourage families from leaving their homes to multiple children as it can often lead to family conflict, write Paul and David Karofsky. For example, we worked with three generations of a family that had a couple of vacation homes. The senior generation grandparents had a waterfront home and the middle generation parents […]
As families approach the concept of transition, the year 2012 provides a rapidly closing window allowing individuals to enjoy tax exempt gifts of up to $5.12M per person – meaning parents can gift a total of $10.24M to their heirs without filling the government’s coffers. For families wishing to take advantage of this time sensitive […]
A recent report by KPMG in Australia explores the education and progression of next generation family members and their approach to changing business strategy, write David and Paul Karofsky. (Click here to view the report) This resonates with some critical issues faced by several family businesses we are currently working with. Here are the key […]
It’s a curious phenomenon. For lack of better words, let’s call it “Entitlement on Steroids.” The entitlement part is pretty clear. It’s been labeled an epidemic among members of the younger generation in family businesses- and elsewhere- for well more than a decade now. But it’s the “steroids” part that’s particularly curious; it’s about attitude […]
When you hear the name “Titanic” – likely your mind drifts to James Cameron’s 1997 epic film about love and tragedy; yet, others are diving deeper into the reality of the Titanic and the lessons derived from the tragedy. In a new book directed at family enterprise, Priscilla M. Cale and David C. Tate examine […]