As the size of your family â and its net worth â grow over time, managing your familyâs wealth can become increasingly complex. Thatâs particularly true for families that own a family business and have multiple generations with competing financial priorities.
âSometimes a family has a liquidity event, even if they still have an operating company, and suddenly they have a lot of liquid wealth for the first time, and they realize the power of investing together rather than taking all of that money and going their separate ways,â says Greg Greenleaf, a principal consultant with the Family Business Consulting Group.