Best Practices for Managing Conflict in Family Offices

Andy Busser is the President of Family Office at Pitcairn, a 100 year-old family office serving more than 100 families around the United States. Andy has been working with wealthy families as a management consultant, private equity investor, and family office executive for more than 20 years and brings a broad range of perspectives to America's leading families of wealth.Listen in!Key Highlights: [00:01 - 12:51] Conflict in Families: How to Manage ItAndy discusses the different types of family conflict and how to manage themHow conflict is inherent within families and can be exacerbated by wrathBest practices for managing conflict, including pre-planning, finding a sounding board, and staying calm[12:52 - 18:04] Tips for Preventing Family ConflictWhy the best practice for family conflict resolution is to have a mix of internal and external expertsHaving a third party help, such as a therapist or psychologist, can be hugely helpfulWhy it is important to find common ground with ancestors in order to create a vision for the future of the family[18:05 - 30:09] Choosing the Right Family Office PlatformHaving a third party help, such as a therapist or psychologist, can be hugely helpfulThe number one issue families face is succession planningWhy kids need opportunities to engage in responsibility, such as through a family council or committee[30:10 - 31:30] Closing Segment Key Quotes: “The best thing you can do is prepare yourself and… Write down what the issues are and don't be afraid to write them down two or three times.” - Andy Busser  “Start with yourself and just look inward and ask yourself, what might I be doing that contributes to the conflict?“ - Andy Busser Connect with Andy:LinkedIn: https://www.linkedin.com/in/abusser/Website: www.pitcairn.comConnect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.