A daring, innovative, authentic, and relentlessly optimistic exploration of women in family office and family business. This Special Report is a must-have guide for women in wealth, regardless of age, geography, or background. It brings together global research, inspiring words, and trail-blazing case studies with financial literacy and tangible next steps all of which combine into a practical guide for women to spearhead sustainable, competitive, and innovative family firms into the future.
Leaning on the themes of authenticity, advocacy, and education, Sasha Lund and her community of thought leaders paint a picture of a changing tide. Women are leading and shaping the conversation about wealth management today, and rather than suggesting they change form to be more like their male counterparts or strip themselves of femininity, this report tells women to be women. It guides leaders to stay true to their authentic selves and lean on strengths of emotional intelligence, compassion, mentorship, and strategic foresight, as well as their often-dual role as mother and leader, to thrive.
The report also explores the idiosyncratic challenges that female leaders face and presents practical next steps for readers, their families, and their firms to consider - from childcare support and infrastructure to mentorship and opportunity. The Rising Role of Women in Family Offices and Family Businesses is a brilliant read that arms women with the agency they need to change the world of wealth. -- Jacq Andrews This collection will appeal to feminists interested in womens employment trends and challenges, as much as to practitioners dealing with all aspects of family business in fields as diverse as wealth transmission, art investment and philanthropy.
Some chapters are practical, with advice on juggling family and work, balancing tradition and innovation in the family firm, and dealing with guilt (almost universal among women); as well as (implicit throughout though rarely spelt out) sexism and misogyny. The value of mentors, networks and role models is highlighted, as are the business benefits of diverse experiences, styles and viewpoints. Other chapters focus on personal experience, featuring interviews with women changemakers, presented either verbatim or in summary from referenced research projects. These life stories are often the most interesting features of the book, partly as illustrations of what is possible, often simply as glimpses into the lives of very rich people. I loved the sentence in one chapter Clients want to live their best life, to travel, work and live with peace of mind because it put travel first!
In the UK, we learn, 37% of family office CEOs are now women, with numbers rising. In some other parts of the world, however, conservative gender norms remain entrenched, and there is advice on how to deal with cultural differences. Also rising is womens share of personal wealth, in part due in England to this countrys position as divorce capital of the world, as we learn from Miranda Fishers helpful summary of developments in family law. But women do not invest their money as much as men do, and when they do their returns are smaller different risk assessment or different values? It seems that women are more interested in ethical investment, and many ultra-rich women support initiatives to benefit women and girls.
I found the chapter on Art Investments fascinating, knowing nothing about the subject. Until recently, the work of women artists hardly appeared in auction rooms but it has rocketed in appeal, aided by the appointment of female gallery chiefs and museum directors. Family firms are increasingly adding art to their wealth portfolios. I relished the authors description of an art-collecting couple, clients of hers, who divided responsibility between his work of acquiring contemporary art for its investment value and her contribution to choosing the pictures to hang in their private residences. The emphasis here is on aesthetic value and liveability. For me, this called into question the very meaning of art, as well as reinforcing some decidedly stereotypical views of the sexes.
Intersectionality where the combination of different forms of disadvantage, such as race, class and sexuality, leads to different treatment and experience is discussed in one chapter, but by and large the view of women in this book is common-sense and recognisable. The absence of pointless theorising and debate on this issue confirms the publishers promise of accessibility and usefulness. -- Rosemary Auchmuty
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