THE ZELNICK GROUP

Managing a family enterprise presents a unique set of challenges, whether it is in the form of a business or a portfolio of high value assets. In maintaining a short term and long term view, the parties need to carefully and proactively balance economic, intra- and inter-generational issues. While often the lightening rod for tension, it is rarely just about the money.

Family leaders are responsible for growing and protecting the enterprise for future generations. It is not only about maximizing profits. It is about stewardship. The family leadership needs to consider different approaches to the sharing and transfer of family enterprise wealth and power, while carefully balancing of complex and dynamic economic, cultural, emotional, and psychological factors.

However, as with any relationships where there is a long history and a sharing of resources, family enterprises often experience deep conflict among and between the stakeholders. The interference and tension caused by deep rooted family conflict often derails the family's advisers from being able to effectively serve them. The resulting damage and cost may benefit from a direct approach to address the challenging interpersonal issues and related dynamics of conflict.

Consumed by internal conflict that is cutting off any constructive communication

Going in circles with entrenched conflict and competing agendas

The family enterprise is foundering and unable to move forward

No ability to collaborate about important issues

Moving towards expensive and protracted litigation

Conflict has eliminated all constructive options

Win-lose scenarios

By bringing the perspective of a former CPA, attorney, family business member, and family psychotherapist, The Zelnick Group helps family enterprise members to harness their conflicts to be able to constructively move forward. 

It is important to take an integrated approach to address the needs of a family enterprise, including the need to respectfully integrate and carefully reflect the different perspectives, needs, and agendas of its individual members.

Family enterprises have many moving parts. They all need to be attended to in order to preserve the enterprise, meet its economic objectives, and consider intra- and inter-generational issues, such as transition and succession planning. Harnessing their conflicts opens the doors for the family's advisers to present the best possible options to ensure and protect the family's interests.