communication

There must be something in the Gujarat water. India’s westernmost state is the birthplace of some of the country’s best-known businesspeople—from Mukesh Ambani, to Azim Premji, and Uday Kotak. Enterprise is a cultural obligation for Gujaratis—with just 5% of India’s workforce, the state produces 22% of the country’s exports.

For the founder of a business, putting in place a succession strategy and exiting the business can be a difficult process. Where some of the founder’s family are also involved in the business, that process can be further complicated by competing interests and differing visions. Every business is unique, but set out below are some guiding principles that can help an exit and a transition to the remaining family members.

Planning

The Institute for Private Investors (IPI) has given wealthy families a place to exchange the best ideas (and often the worst experiences) about managing wealth since 1992. Ahead of its 25th anniversary on 22 May, IPI's Zaki Abushal speaks to long-time members about how it's helped them.

In an age of non-verbal communication the Institute for Private Investors (IPI) stands out. Its open door, safe-harbour policy might sound like a contradiction— but it isn’t.

Again and again, the financial community makes no distinction between the do-it-yourself investor and those who would prefer to use an adviser. The truth is, most investors (two-thirds, according to many studies) yearn for a trusted adviser. Their quest, however, is often frustrated by a number of obstacles.

What’s in the way. Well, there here is no guide, no Zagat’s, of the "best and most trusted" advisers. Also, once in an adviser’s office, many investors do not know how to perform due diligence.