Family Meetings — Defining Who We Are - Susan Schoenfeld

Image from Unsplash by Redd

The Opal Group held their annual flagship Family Office and Private Wealth Management Forum in Newport, Opal’s largest & most renowned family office event in the industry. One of the speakers was Susan Schoenfeld, public speaker & thought partner to families of wealth and their advisors.

Susan is the founder of Wealth Legacy Advisors LLC. She is an award-winning thought leader and public speaker in the financial services industry, and an expert on the human issues that keep families of wealth up at night.

Susan spoke about how families define who they are.

“Family meetings are an interesting and important part of the family governance structure. It’s discussing the mission, vision, and values of the family, and then constantly reinforcing those concepts through actions. Listening to stories about their family helps young children to understand who they are, their identity, and their place in this world. The story will be your own — but making sure it is thoughtfully constructed, told consistently, reflects your values, and is age-appropriate — that is what I help families do.

“When I think of family meetings, I think about the who, the what, and the when. What does it mean to be a member of our family? The who - who gets invited to these meetings: bloodline only, or the in-laws /out-laws? The when - start early and start often. It is never too soon to start, but it is never too late.”

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