Article Library



Succession Planning: Passing on Wealth and Planning for Continued Prosperity

Published December 10, 2020 |

By BDO USA LLPSuccession Planning as a Component of Family GovernanceA succession plan prepares heirs to transition successfully and preserve, grow and pass wealth from generation to generation. Other...


Positive psychology can help family firms in tough times

Published December 6, 2020 Scott E. Friedman |

Adding to the well-known challenges that families in business together have always faced are the hardships created by the COVID -19 pandemic. Only time will tell how long these obstacles will remain i...


Are your family business ownership documents in order?

Published November 23, 2020 Richard Spore |

Members of a family business may be tempted to adopt ownership documents (such as shareholder, partnership and LLC agreements) that are less robust than would be the case if the owners were unrelated....


Why your family business needs a disruptive successor

Published November 17, 2020 Jonathan Goldhill |

Your plan to pass your business on to the next generation may be derailed if:• You don't have a future leader with vision.• You haven't made changes to your business model and have been impacted b...


Family goals should drive family office decisions

Published November 15, 2020 Bill Rudnick |

The “office” in a family office is not necessarily a physical structure. Rather, it is a shared and agreed-upon approach to managing the family’s wealth.Family offices take many forms. They can ...


The Fallacy of the Preference for Income in Portfolios

Published November 12, 2020 Joseph Zaccardi |

The most challenging part of providing financial guidance to families and institutions is overcoming educational hurdles to deliver a solution that provides enough comfort to allow the power of compou...


Family Business CEOs to Watch 2020

Published October 23, 2020 | Feature Article

 We recognize family and non-family chief executives who are leading their businesses with a view toward long-term success.This year, business leaders in all sectors were tested as the ...


Ben's Chili Bowl: A spicy landmark in the nation's capital

Published October 22, 2020 Scott Chase | Feature Article

Six decades after its founding, the beloved restaurant is run by the second generation, with Mom still a regular presence.


Bringing joy, and fresh food, to low-income communities

Published October 22, 2020 Barbara Spector | Feature Article

Fourth-generation grocer Jeffrey Brown and his family are deeply committed to serving the urban poor. Their entrepreneurial approach and their family values are the keys to their success.


Leaning in to uncomfortable conversations

Published October 22, 2020 Langdon Evans | Feature Article

How I’ve learned to talk about race and privilege in my majority-white family business.


Resolving longstanding conflict is well worth the hard work

Published October 22, 2020 Joshua Nacht | Advisers

Longstanding family conflict can bring a family business to its knees. It saps energy and happiness and holds back the business from functioning optimally. The first step in resolving longstanding con...


Navigating shareholder dynamics in a family office environment

Published October 22, 2020 Barbara Young | Advisers

Family business owners are typically laser-focused on building a successful, competitive, innovative company that will grow and flourish over time. However, an interesting thing can happen as a family...


Risky family business

Published October 21, 2020 Barbara Spector | Departments

This year, our MLR Media team has focused on the topic of risk — an appropriate subject to consider in a year marked by a pandemic, destructive wildfires and social unrest.Our sister publication Dir...


Pantry pride

Published October 21, 2020 Caro U. Rock | Departments

I love to cook, but for many years, with my work schedule and board requirements, I haven’t had the time. Then COVID descended. I found myself with the opportunity to cook more often for my husband,...


Dueling Perspectives: Private company share structures

Published October 21, 2020 Barbara Spector | Departments

Business families have a variety of options for structuring shares in their company to meet the needs of the family and the business. We asked George Quarles, a third-generation owner of Quarles Petro...


November/December 2020 Family Matters

Published October 21, 2020 | Departments

Second-generation family member Lynn Houston Moore has been named CEO of HJI Supply Chain solutions, based in Louisville, Ky. Her promotion marks the culmination of a six-year succession planning stra...


At the Helm: Joseph C. Richert

Published October 21, 2020 Patricia Olsen | Departments

A few minutes with the chairman and CEO of Special Tree Rehabilitation System, Romulus, Mich.


Celebration Corner: Ralph's Italian Restaurant's 120th anniversary

Published October 21, 2020 Barbara Spector | Departments

The country’s oldest family-owned Italian restaurant had a monthlong virtual celebration featuring contests and nostalgia. 


Tips on interviewing law firms

Published October 21, 2020 F. Douglas Raymond III | Departments

Readers frequently request guidance on how to evaluate advisory firms. This series of articles presents information on how to interview and compare advisers in a variety of disciplines.


Vertex goes public during a pandemic

Published October 21, 2020 Barbara Spector | Departments

Executives of any company that goes public will tell you the process leading up to the IPO is grueling. For family-controlled Vertex Inc., which began trading on Nasdaq July 29 under the ticker symbol...