Tools for Greatness.
The Smart Planning Process™ defines the Family’s unique journey and articulates what their version of what a well lived life looks like. The Continuity plan lays out the steps the Family can take to achieve their goals. These are actionable and measurable. In many cases Coppertree will assist the Family in forming a representative way to make decisions moving forward. This form of family governance guides each member to gain an understanding of the Family’s goal to move forward while making the tough decisions together.
At Coppertree we envision the family governance structure to be an integral component in perpetuating the Family Legacy. Without such a plan, a multi-generational legacy is less likely to exist. The most common benefits for Families who establish a form of governance:
- Proactively addressing the issues that cause two of three wealthy Families from surviving intact through the third generation.
- Individual Family Members pursuing their vision of happiness and fulfillment.
- Fostering an atmosphere of trust within the Family.
- Developing open communication within the Family.
- Establishing a shared sense of purpose.
- The Family flourishing through thoughtfully developed multi-generational leadership transitions.
Although each Family is unique in the structure of its governance, the implementation frequently includes guidelines that articulate:
- How the shared history and values are communicated, preserved and enhanced.
- How the Family will choose leaders.
- How often the Family will meet.
- How the Family interacts with the enterprise’s board of directors.
- How the Family’s assets transition through generations.
- How to be a part of the Family enterprise.
- How new Family Members are incorporated into the Family decision making process.
- Education for the next generation of family members and decision makers.
- How the Family chooses to make an impact on the community through charitable donations.
A Chief Financial Officer in the corporate setting is often called upon to measure a strategy’s implementation against the intended results. The CFO helps to communicate and explain the measures of success. In a Family, proper implementation of the Family’s Strategic Plan requires that resources are aligned against purpose and effort is aligned against goals. The CFO of your Family provides the feedback required to make necessary corrections to deliver the results you want.
As CFO for your Family, we work with your specialists in tax planning and compliance on behalf of your Family. We also work with your Family’s team of legal and estate planning experts to ensure that the ownership structures associated with your financial capital are aligned with the Family Strategic Plan. We can also assist your Family in the management of its personal affairs, in areas such as risk management, data aggregation, personal bookkeeping and bill paying services.
Coppertree can help with the Family’s invested assets as well. Coppertree is not a registered investment advisor. We serve as advocates on behalf of our client Families by working with their investment management professionals. We provide your Family with insight about how your investment team performed relative to your expectations. We will also help you monitor this team’s work to ensure that it continually reflects your Family’s Strategic Plan.
Coppertree is unbiased with respect to how your Family’s financial capital has been deployed. Whether you have capital invested in operating assets, financial assets, a Family foundation, or real estate, Coppertree’s role is to assist you in assessing how your deployed capital is performing relative to your expectations. As the Family’s CFO, we do not manufacture the returns on assets; we help you to understand how your results compare to your goals.
Your Family’s business enterprise may be its most important investment. Using the Family Strategic Plan as a guide, we work within the enterprise to improve profitability and capital efficiency. Additionally, we will help prepare the business to accept and act on the strategic input from the Family. We also help to establish a board of advisors of both Family and non-Family Members to support the leaders of the business. Finally, we work with your Family to craft transition plans to shepherd the business from generation to generation.