Forsyth Wealth Management, Inc

Business Families

Business Families

The Forsyth Family Office option is for individuals and business families with multigenerational needs. Our Family Office Option combines our cutting Wealth Management engagement with education and management on issues that are vital to extended business families.

Families today face the challenge of keeping family wealth in the family, while continuing the legacy of the wealth creator. Many families believe that their family wealth is more than just financial capital and includes the human and intellectual capital of the family too. People are the most important assets that a family possesses.

Each succeeding generation has the potential to carry the values of its predecessor. Families that successfully share values through generations will preserve and expand the family's wealth.  Recent studies have pointed out that there are alternative approaches to building the financial, human, and intellectual capital of a family. We believe that the most effective approach for a family of significant wealth to preserve and enhance its wealth through the generations is by the creation of a properly functioning family office.

Most sophisticated families believe their net worth is substantial enough to insulate them from complete financial degradation. Nevertheless, as the saying goes the first generation earns it, the second generation saves it, and the third generation loses it.

Once wealth begins to fracture across several generations, unwise spending habits, mismanaged investing, severe tax losses and reduced buying power compound the degenerative effects on the value of the portfolio.

With appropriate guidance, most families can combat multi-generational fragmentation to perpetuate your wealth for many generations to come.

The family is a dynamic entity composed of individuals with varying interests, abilities, needs and goals. While extended family members become separated by distance, disharmony and death, they are still integral parts of the whole and, from time to time, must act as one.

Working with Forsyth Wealth Management, the family remains cohesive through a formal framework that facilitates constant communication and understanding.

A family office provides personalized focus and control over the financial affairs of the family while providing a formal communication and service framework. It allows each succeeding generation to further develop the family's inherent core competencies through education and practice, whether they are in an operating business, investment management, philanthropy, or other endeavors. The family office can also act as a mechanism to ensure privacy and confidentiality, and strengthen and reaffirm the family mission and legacy, and control costs for the family.

We help our business family clients learn about new ways to address governance issues, organize both business and family meeting structures, and find tools to define roles and responsibilities within the business family unit.

We help to support, help and empower business families to ensure their sustainability and harmony for generations to come.

Forsyth Wealth Management believes in inclusive learning, staying close to your roots both in values and legacy and creating supportive lines of communication for the success of the next generation.

We deliver relevant, interactive and engaging education on important topics relevant to business families around the world both online and through face-to-face settings. We utilize a network of partners that help make our learning accessible globally and to better cope with business family issues.

We will help you form a Family Action Plan, Ownership Action Plan, and Business Action Plan that help address the following areas:

  • Business family governance - Organizing, developing and responding to structures for authority, decision-making and accountability.
  • Complexities of communication - Developing strong interpersonal skills and avoiding conflict within the family and the business.
  • Succession planning - Preparing the action plan and processes for the future of the family business.
  • Transitioning  ownership & leadership - Transferring knowledge, power and decision making successfully from generation to generation.
  • Women’s roles - Understanding and leveraging the many roles that women play in the business family unit.
  • Family legacy - Maintaining family history, core values and best practices throughout the years.

We resolve obstacles like where are important issues discussed; where are important conflicts resolved; what are the agreements; who establishes the agreements; and, how are transition and continuity issues addressed.

We also help to counsel you how to Managing Inter-generational Conflict. The conversation between generations is key to successfully passing wealth from one to the next. Yet every generation has its own way of doing things, its own culture, and those cultural differences can make that conversation challenging, to say the least. In multicultural situations, families living in countries with very different traditions from those they grew up with, or spread around the world, it can seem near impossible.

Forsyth Wealth Management is an integrated wealth advisor that helps families implement a holistic approach to wealth management.

We provide the technical knowledge, including investment management, tax, wealth transfer, asset protection, and philanthropy planning, that is needed to grow the family's financial capital and take care of its day-to-day complex needs with performance reporting and cash flow management; while cultivating the families’ succeeding generations with family continuity and financial education, succession planning, and family governance.

We understand the unique requirements associated with substantial wealth and the concerns you have for your children, extended families and future generations. We take a deep, personal interest in our clients and continuously strive to meet and anticipate their needs by providing investment, financial, fiduciary management services that complement the family enterprise by centralizing, coordinating and streamlining all key functions.

Our wealth management solutions are completely objective. We do not take possession of your money. We expertly coordinate and evaluate all your financial and asset managers, their recommendations and their work, and ensure all remain focused on your overall financial goals. 

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Mr. Lavorgna is a member of the Society of Trust and Estate Planners, an international organization that advises multi-generational families.

All written content on this site is for information purposes only. Opinions expressed herein are solely those of “Forsyth Wealth Management, Inc. and our editorial staff and are not to be relied on as legal or tax advice. Material presented is believed to be from reliable sources; however, we make no representations as to its accuracy or completeness. All information and ideas should be discussed in detail with your individual adviser prior to implementation.