|
Laxman Pai, Opalesque Asia: The vast majority of ultra-high net worth families (UHNWF) -86%-handle risk management planning at the highest levels of leadership, while 76% report they have no regular review process for risks to the family itself, said a study.
Ultra-high net worth families fall short when it comes to risks to family reputation, providing risk education to rising generations, planning for personal threats and unexpected natural disasters, and formalizing family codes of conduct, say new survey results from Alliant Private Client.
"UHNWF, namely those with single-family offices whose wealth results from private ownership of business enterprises, put a premium on understanding and managing risks to their businesses. Yet they are lenient about managing risks relating to family members themselves," said the just-released Family Enterprise Risk Index from Alliant Private Client.
The survey sample was comprised of individuals from 145 family enterprises, nearly evenly split between members of operating businesses (41%) and family offices (41%) and between family members (50%) and non-family members (50%), i.e., executives of the enterprises and family offices.
According to the study, the top five risks of concern to respondents (both family and non-family members) appear to relate more to the business, and less to family. In descending order, their top risks are talent, succession, family conflict, cybersecurity, and investment performan...................... To view our full article Click here
|
RSS
