next-generation

The Campden Wealth North American Family Enterprise Conference in Phoenix on 24-26 February is the ideal event for significant wealth holding entrepreneurs and multigenerational families and their executives from across the Americas—find out why you need to attend.

There are several things that family businesses can learn from the history of Merck.

Cohesion and continuity are the benefits of adherence to family values and tradition. Merck values of hard work, empathy, and striving for excellence were imbibed and inculcated across generations mainly through practice.

When it comes to succession, some business families plan well and some don’t, whether the next generation is ready or not. Scott McCulloch reports.

Here is a scenario: What if a patriarch–a maverick whose family firm, built over four decades and turning over more than €100 million ($105 million) annually–dies in office without leaving his children a set of instructions on how to run the show?

"Should I stay or should I go?" asked The Clash. It’s a question that arises for all next-gens sooner or later, at least when it comes to the people they employ to advise them about investing their money. The evidence suggests that many incline to "go".

A recent report published by Campden Wealth and Morgan Stanley found that 62% of the next-generation members in major family businesses are considering changing their bankers in the next two years, compared to just 25% of the older generation in those businesses.