What we do
What does it mean for business families to ‘transition their capital’ to future generations?
Family capital comes in two primary forms.
- Financial capital is money and wealth. It enables the business and the family to not only meet its financial obligations as they arise, but also to continue to grow and endure over time.
- Human capital is wisdom, knowledge and experience. This is culture, “how we do things around here,” the values of the family and the business. It’s the glue that bonds the family and the business together.
Our experience with Canada’s most accomplished business families is that an effective “transition” plan addresses both the financial and human capital – not one at the expense of the other.
We call this dual approach – the financial and human capital – the ‘business of the family.’