Subscribe to LFO' s Blog
unHeritage – 11 Pitfalls to Family Legacy and How to Avoid Them
“unHeritage is definitely the lighthouse for protecting your family and wealth for generations. This book is a must read for anyone interested in legacy planning.” Enzo Calamo
Center for Family Conversations
The Center for Family Conversations (CFC) is a resource center that provides the integral tools and ideas in helping families establish a 100-year-plus Family Legacy Plan.
THE TYCOON PLAYBOOK – How Business Empires Are Built
The Tycoon Playbook course was created for business families who are already running a successful business and wish to ramp up their growth while preserving wealth for future generations. Specifically, the Playbook teaches high performance business owners the two most highly rewarded skills in business, namely deal-making and how to acquire cash flow producing business assets.
Archive for June 23rd, 2012
/ Business Succession, Business Values, Choices, Common Mission, Communication, Culture, Emotions, Estate Planning, Family Values, Happiness, Leadership, Legacy Resources, Listening, Meaning and Purpose, Significance, Success, True Wealth
Transition from one generation to the next is failing Almost half of Canada’s family businesses expect to see an intergenerational transfer of management and/or ownership within the next five years. But a new KPMG Enterprise report says that over 80 per cent have no formal plans in place to manage the family dynamics of the business, intergenerational wealth, and help prepare future generations to continue the family business legacy. The report: Family Ties — Canadian Business in the Family Way was developed in co-operation with the Canadian Association of Family Enterprise. “We know Canadian business families are in good shape and are optimistic about the future,” said Allen Taylor, chair of the CAFE. “However, the general knowledge and understanding of family businesses in Canada is sparse – this study aims to advance the understanding of family businesses, their current and future owners, and the attributes that equate to their success.” Franco Lombardo, author of Great White Elephant: Why Rich Kids Hate Their Parents and financial adviser to high net worth families on wealth transition, was in Calgary this week and said more than 70 per cent of business successions fail from the first to the second generation. “And you have the best legal, accounting and investment management minds working with these families … You’ve got to ask yourself: What’s not working?,” he said. In his stable of clients, he works with six families that have an aggregate net worth of $8.4 billion — three of those families are in Alberta. “Generally speaking, when it comes to advice on wealth transition and business succession planning, the current focus within the succession planning industry is nearly always upon the technical aspects of the process,” he writes in the book. “This approach is driven by the structural and tax-related issues, and typically never takes into account the emotions of the individuals involved.” Lombardo said the book, which is out next week, was written with one goal in mind — increasing the odds of success in passing on wealth or the ownership of a business to the next generation. “Contrary to popular, current industry practices, I firmly believe there is a much better way — and perhaps it’s the only way — to successfully bequeath wealth to your children,” he writes in his book. “The hallmarks of this better way require of those involved the ability to implement the process of wealth transition consciously, intentionally, and with a deep sense of love and in a state of generosity. “Being mindful of the power of these emotional conditions also serves to create a more appropriate climate for wealth transition since they facilitate receptivity in those to whom the gift of wealth is to be bequeathed, and enable them to grasp the spirit of intention with a similar sense of love and in a similar state of generosity.” Key findings of the report include: the biggest challenge facing future generations is gaining the right experience, […]
Enzo Calamo Is A Best Selling Author
Enzo Calamo is the Best Selling co-author of "How To Create Infinite Returns In Real Estate Using The Secret Asset: How To Recover All Business and Personal Expenses Using The Secret Asset" This is a must read for every affluent investor.
Enzo Calamo Is A Gold Award Curator
Scoop.it describes Enzo Calamo "as a rock star of content curation."
Lugen Family Office is the Most Trusted Online Curator on Legacy Planning, Wealth Management, Financial Literacy, Family Business, Philanthropy, Technology Trends, Healthy Living, and the UHNW.
ALL POSTS ARE CURATED BY ACTUAL EXPERTS!
Check out our 11 Gold Award UHNW Newswires.
- U.S. Buyers Snap Up Credit-Card Debt of Prudent CanadiansDecember 7, 2016
- Trump picks wrestling magnate Linda McMahon to lead Small Business AdministrationDecember 7, 2016
- A jewelry expert shares everything you need to know before buying an engagement ringDecember 7, 2016
- The 10 US cities where Americans have the best creditDecember 7, 2016
- SCHWARZMAN: Donald Trump is going to change the ‘architecture of the world’December 7, 2016
- How Millennials Are Changing the Face of PhilanthropyDecember 7, 2016
- 6 Life Lessons from Warren BuffettDecember 7, 2016
- ‘I’m going to negotiate prices’: Trump explains why he went after Boeing over Air Force OneDecember 7, 2016
- Outlook good for expanded accredited investor definition after strong approval in HouseDecember 7, 2016
- The Richest Men Ever: Here the 10 richest men ever in world history featuring two AfricansDecember 7, 2016
- Verizon to sell data centers to Equinix for $3.6 billionDecember 7, 2016
- Foreign firms spend £100bn buying British businesses so far in 2016 December 7, 2016
- No price like home: Big spenders reappear in ChinaDecember 7, 2016
- The 3 trends that will affect the economy in 2017December 7, 2016
- Deep value investing: dispelling the ultimate investing misconceptionsDecember 7, 2016
- Buffett, Soros and the Role of Robotic Logic in Investing RichesDecember 7, 2016
- Miami Condo King Jorge Perez, Donald Trump’s Latino Billionaire Friend, Expands Into MexicoDecember 7, 2016
- SoftBank founder Masayoshi Son: A ‘crazy’ billionaire obsessed with the futureDecember 7, 2016
- Billionaires Sergey Brin, David Tepper join Steve Ballmer, Stanley Druckenmiller In $850 Million Philanthropic Bet To Help Nation’s KidsDecember 7, 2016
- 7 of Yale’s super-elite secret societies ranked by wealthDecember 6, 2016
- Canada home to more than a million millionaires — but more are coming soonDecember 6, 2016
- Hot property destinations for the super wealthyDecember 6, 2016
- You may be higher up the global wealth pyramid than you thinkDecember 6, 2016
- 1% of Indians now hold nearly 60% of the country’s wealthDecember 6, 2016
- 8 things you should know about Singapore’s wealth gapDecember 6, 2016
- Q&A: Boosting retirement savings with Ida RademacherDecember 6, 2016
- Family of Malaysia’s Jho Low moves to protect assets in 1MDB probeDecember 6, 2016
- How Virgin’s Richard Branson makes and spends his millionsDecember 6, 2016
- 5 Billionaire entrepreneurs who take philanthropy very seriously – KnowStartupDecember 6, 2016
- Tony Robbins shares the best career advice he’s ever been givenDecember 6, 2016
- How Warren Buffett earns income from stocks that pay no dividendsDecember 6, 2016
- Here’s what we know about Trump’s $50 billion deal with a Japanese billionaireDecember 6, 2016
- Watch Our Full Conversation with Jewel: A Pioneer’s Purpose – YouTubeDecember 6, 2016
- Watch Our Full Conversation with Stephanie McMahon – YouTubeDecember 6, 2016
- Survey of Household Economics and Decisionmaking: Holiday Spending – YouTubeDecember 6, 2016
- Trump Effect on Family Offices – YouTubeDecember 6, 2016
- Always Get BETTER – Pitbull (@pitbull) – #Entspresso – YouTubeDecember 6, 2016
- Hans Zimmer’s Top 10 Rules For Success (@RealHansZimmer) – YouTubeDecember 6, 2016
- Take RISKS – Wiz Khalifa (@wizkhalifa) – #Entspresso – YouTubeDecember 6, 2016
- Ten Signs Your Boss Appreciates You — And Ten Signs They Don’tDecember 6, 2016
Lugen Family Office Proudly Supports AIP
The International Association of Advisors in Philanthropy is the leading charitable giving organization in the world for inspiring collaboration among professionals.
AIP Ambassador, Past President
LFO Website Statistics