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Unique insights to drive your family and family office forward, authored by Family Capital Strategy

The Importance of a Family Governance Model

Greg Lewis at the Tennessee Center for Family Business was kind enough to host me on his podcast, Family Business Today.  We had a wide ranging conversation surrounding the question of what a family governance model might look like within a family business or family office.

Governance is certainly a focal topic within the broader family community and the reasons why are clear.  Governance structures increase the likelihood of long-term success.  Within the company, a common family governance model is the creation of either a fiduciary or advisory board – hopefully with outside directors.  But within the family itself, establishing a family council is a common governance tool.  Family councils are different from a Board of directors in their focus, but when well functioning should have a highly productive relationship and regular interactions.

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