|
|
| |
In his book “Family Wealth – Keeping It in the Family”, James E. Hughes defines the wealth of the family as the sum of the human and intellectual capital as well as the traditional financial capital. To be successful families have to invest in developing all three.
| • |
Human Capital
includes the unique abilities and talents of the individual, including their character, morals and values |
| • |
Intellectual Capital
including formal and informal education, their experiences of life |
Two other sources of wealth can be added:
| • |
Spiritual Capital
relationships within the family through shared values, family history and, if applicable, religion |
| • |
Social Capital
ncludes responsibilities, charitable giving, caring for others and values |
Families in Business works with families to develop their understanding of how these elements all interact, thereby preparing the current and future generations to manage “wealth”. We do this primarily through formalising appropriate governance structures to maximize the potential of the family and its “wealth”.
[back] |
|
|
|
|
|
