Value of Common Vision
Definitions are important; therefore, before I begin let me define or explain two:
The Next First Generation are the successive generations who adopt the vision and values of the initiating or first generation. For example, the first generation may have definite views or formulae for their success. The next and successive generations become the Next First Generation if they adopt the independent, creativity and management style of the first.
FUTR’s Board of Governors is unique in this business. While they are all golf buddies save one, each knows me well and does not mince words nor comment. After all we play golf together!  If you click on the link, it will take you to our Biographies for the Board of Governors. Now for the real reason for writing this blog without further interruption.
A few comments from last week’s blog came over the transom . . . the nature was “why did you give up 15% of the fee?” . . . My response was “I see the fee as belonging to the client until it is earned.” . . . FUTR is different because of executing this value when no one is looking. FUTR’s team sees our relationship with our clients as a long-term partnership with each Next First Generation of family members and committed to their family’s vision and values.
At the last Board of Governors Conference in June, the Governors experienced first hand FUTR’s commitment by becoming a proxy for two families linked together by a common relative and separated by competing goals. These goals kept them from seeing a common Family Vision and Governing Values. During the conference, they discovered teamwork, the responsibilities of leadership and the ever changing roles as a participant. What a surprise for them to learn that the two “family proxies” had compatible visions and congruent core, governing values. The Family Leadership Conference was acclaimed a valuable resource! No other financial services company has ever presented such a program to this group of sophisticated, worldly people . . . the best line was “I have an adventuresome spirit personally; I don’t want that adventuresome quality to become part of the family’s core values when managing our wealth.” Another commented, “This program would help any family understand one another, their goals and value better . . . alignment and focus with a common goal or vision.”
Family wealth is financial and human capital. Each member has a role to play and a role to step into. The great question is ‘who is ready for what?’. Family leadership is responsible for recruiting members to the Family’s Vision and mentoring the adoption of the family’s core Governing Values.
One prospective client called FUTR’s paradigm a “game changer” in the management of family wealth: financial portfolios, portfolio risk and cash flows required to sustain the family’s lifestyles.
This Fall, FUTR is sponsoring and presenting a series of five to six Family Responsibilities of Leadership Workshops. These workshops will be a “brown bag” luncheon feature a presentation about leadership’s responsibility for family investment policies. You will learn about leadership, management and communication styles and how to make them work for your family productively.
Let us know if you have an interest in receiving more information about this Family Responsibility of Leadership Workshop series . . . there is value in a common vision and bringing a family together.
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