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Family Governance White Paper
The goal of this article is to help families understand the benefits of creating family governance systems, and to set forth a general approach to the family’s governance organization. It is the first in a series of three articles from Coppertree Ltd. that, taken together, outline key, strategic practices toward building family legacy.
Family Constitution White Paper
This article introduces our philosophy around creating the values and mission-based family constitution to outline family governance policies and procedures. It offers an explanation of the constitution’s role in multi-generational wealth preservation, and suggests a practical strategy for initiating, drafting, and maintaining this important document as a touchstone of family collaboration.
Please contact 513-579-3531 for copies of these White Papers.
MAY 1, 2008
BNY Mellon’s Wealth Management Conference
New York City
Mark Casella participated in a panel discussion for BNY Mellon’s Wealth Management Conference,
“Getting it Right: Best Practices for Family Offices.”Mark spoke about the role that Family Governance plays in mitigating family and business risk. His panelists included Jeffrey Davidson of Taubman Asset Management and Linda Bourn of Marsh Private Client Services Family Office Practice.
JUNE 18, 2008
Family Office Forum
Chicago, IL
Mark Casella was a featured speaker for Family Office Forum Connecting Families, Family Office Executives & Advisors to Manage Wealth Across Generations. His topic was: Creating Effective Family Mission Statements To Shape the Family Legacy.
SEPTEMBER 23, 2008
Campden Family Office Conference
Boston, MA
Mark Casella participated in a panel discussion for Campden Family Office Conference, “Managing the Boundary between The Family and the Family Office”. He addressed the issue of how to empower the family to be dynamic stewards and beneficiaries of their wealth.
June 8-10, 2009
The Family Office Forum
Chicago, Il
Mark Casella is a featured speaker. His topic will be:
A Private Affair: Overcomming Obstacles to Family Governance and Education
While there is ample evidence of best practices in family governance, the most significant challenge to families lies in overcomming the obstacles that stand in the way of implementing these best practices.
Mark will examine the challenges that many families face and explore strategies that have been successful in overcomming these challenges, including:
Collaboration between and within generations Engaging family members in the mission Establishing family leadership dealing with disruptive family dynamics Transferring values and a sense of ownership Enhancing family communication to the next generation
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Please choose a article to read more.
Cincinnati Enquirer 2008 LOOK WHO'S TALKING Mark A. Casella, Coppertree Ltd.
A scion of one of the country's wealthiest families just released a controversial documentary examining a growing disparity between the rich and the working class, and clashes with his father and other rich folks in the process. In downtown Cincinnati, Mark A. Casella runs Coppertree Ltd., a "family office" - a kind of advisory service to the wealthy - that is one of a growing number of firms that helps the ultra-rich preserve family prosperity.
WHAT DOES Coppertree do?
We attempt to help the family find who they are, what their vision is and what the principles are that lead to a mission statement for the family and then a set of rules that they all agree to that they abide by. We call it a constitution. Our job is to try to help the family to identify what the perfect ideal state looks like somewhere out in the future.
SO YOU DON'T manage money for families?
We are not money managers per se, but what we'll do is counsel families on the investment-management consultant that fits best with what the family's overall vision for itself is. So we will introduce them to the consultants who will in turn help them with their investment asset allocations and then ultimately the money managers who will be hired to manage the family's wealth.
WHAT IS IT THAT wealthy families don't know about how to handle their own money?
I always used to think that we were all interested in making more money, but these families have achieved such extraordinary levels of success that it's not about the money. It's typically, "I don't want our wealth to ruin our children or grandchildren."
WHAT IS IT ABOUT wealth that average people don't understand?
I think many people in our world are concerned about being secure and therefore aren't as willing to take the kinds of risks that most entrepreneurial-type folks have taken at one point or another in their life.
JAMIE JOHNSON, THE great-grandson of the founder of Johnson & Johnson, made a documentary about disparities between the very rich and the middle class. Does that make people at the upper end uncomfortable?
I don't get the sense that there's a shame to the level of wealth that they have relative to the people that they've lived around in their neighborhoods all their lives. What I found interesting in the interviews that he conducted with his
friends. ... It was always on the money. What I did not hear was how are you
as a family trying to enjoy life, how are you trying to be a part of your community.
BUT YOU UNDERSTAND why a guy who makes 50 grand a year is so interested in what a guy who is worth $500 million thinks about money, right?
Sure. The question is, "How did he do that?" There is a family that I read about that is worth about $1 billion and the entrepreneur was in a white-collar job and ultimately bought the company. But he was no different in his $50,000 job than you or me. The difference was that he saw an opportunity, and he was willing to take a risk.
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