A Universal Theory of Family Well-Being
Empathy is the Answer, Too
For its 10th Anniversary Family Gathering Celebration, RayLign played host to over 170 guests, bringing together the firm's unique orbit of client families, wealth advisors, and leading "Stars" from the field of family dynamics. Attendees were exposed to a full day of panels, working sessions, a planetarium showing, and networking. The following is an excerpt from introductory remarks made by Greg regarding RayLign’s Universal Theory of Family Well-Being, including an empathy exercise highlighting empathy’s essential role in sustaining well-being through the generations.Download Paper
A critical family survival skill (that no one taught you...)
Over the millennia, humans have honed primitive reactions to external forces for the purpose of survival. In today’s “civilized” society, these subconscious reactions have evolved as part of our coping mechanisms, yet when untamed can prove to be disruptive if not destructive. And when it comes to families seeking enterprising activities together across the generations – through businesses, foundations, family offices, trusts, and shared assets – we anticipate increased relational anxiety, not less. This is why we are sounding the alarm for families and their advisors to make a commitment to the mastery of group dynamics, as a way to support the long-term well-being of family members, and to build the bed-side manner required by the advisors to best serve them.Download Paper
Understanding the lifecycle of a wealth advisory firm for a better family experience.
Face it, you’ll never be completely happy with your wealth advisory relationship, and here’s why... At every stage of evolution for a wealth advisory organization there are tradeoffs relative to maintaining the alignment between client, employee and shareholder interests. As each organization grows, access to senior team members is reduced, and client intimacy and services coordination are diluted in favor of shareholder demands for scale and profit growth. Determining the appropriate wealth advisory relationship structure therefore requires an understanding of and respect for the evolutionary forces at work relative to your family’s priorities and wealth service needs. This potential divergence of alignment is why you will always need to “own” your wealth management responsibilities, which includes securing advisor firm resources that fit your current and evolving needs. In this article, we identify key vulnerabilities that these evolutionary forces create, and provide families with a framework for how to maintain an effective advisory relationship no matter what type of organization is chosen.Download Paper