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SUCCESSION PLANNINGSuccession Planning is of the utmost importance in any ultra-wealthy family and to understand the difference between Wealth Generation and Wealth Preservation. It is very important that at all times in Wealth Generation and Wealth Preservation that the family values and ethics are clearly displayed. At Le Roux Global we have designed a platform how families can all share in the same digital network adopting to the same values and principles while generating wealth and adjusting to the concept how to preserve wealth for future generations. Normally from the third-generation families and onwards, wealth generation becomes less important than dealing with important family problems. At Le Roux Global we know how important it is to teach the next generation how to be good caretakers of family wealth and to make sure that family members have the same values, goals and vision. This is how the digital network infrastructure that exist within Le Roux Global Family Office provides important assistance to our families. At Le Roux Global we point out the importance that no matter how many children a family has, each generation share the same vision and philosophy as the founding fathers. Therefore, the key is that the next generation will adopt the same family values and ethics that is needed to grow into the same family governance principals. It is important to Le Roux Global to successfully preserve family wealth which is an important part of family governance but also for those who struggle to adhere to family values it is important to have an exit plan. So, if family members don’t like working jointly at the family office, there must be a process that would enable them to leave. However, it cannot be more profitable for them to leave than stay part of the family, therefore the structure is designed in a way where family members can leave with limited wealth while ownership remains consolidated. Therefore, at Le Roux Global we make sure that wealth is passed down from one generation to the next, while family leaders must adopt the belief, that family members stay linked as part of the wealth preservation strategy. | SUCCESSION And StewardshipSuccession is all about creating an atmosphere of family values and responsible Stewardship, shaping and empowering family members to develop unique skills to become effective and responsible stewards that learn how to preserve and generate wealth for the future generations. The difficult task of getting family members to sharing a common general understanding when it comes to money or wealth is not always easy. We allow family values to be our guide to Stewardship and we also cultivating the understanding of generating and preserving wealth with responsible stewardship. |
Wealth GenerationThe wealth our forefathers have generated that was passed down to each generation, who created with us the importance of developing the understanding and skills to be responsible stewards of generational wealth. While most wealthy families lose most of their wealth in the second generation, at Le Roux Global we inherited this understanding by developing the skills for responsible stewards with each passing generation. Wealth Generation is the building of wealth and maintaining which takes a certain level of skills and understanding that does not come naturally with everyone. Responsible daily money choices will no doubt adds up and transform into long-term wealth generation, if done responsibly and calculated. With wealth generation it is important to develop financial literacy by knowing, identifying, and understanding the risk it poses during more volatile and uncertain economic times. We imbedded the importance of each generation to understand the family legacy and the responsibility to develop and grow the wealth that was passed down from previous generations. | WEALTH PRESERVATIONMost wealthy families during the early 1900’s shifted their focus to banks and insurance companies to manage family generational wealth which created a market trend to break up family wealth into smaller portions and for families to place their assets under the control of banks, insurance companies, asset managers and single brokers. This resulted in the failure of Wealth Preservation Planning and family wealth depleted and families failed to do any future planning of portfolios and family wealth was left in the hands of banks and insurance companies with no future planning or succession planning in place which was clearly a big mistake. Generational Wealth is a privilege not a right, and each family member is fully aware by irresponsible actions they will lose the privilege to be a steward of generational wealth. With the challenges the world is currently facing in the global banking industry and with failures of businesses crippled with investment fraud, this has motivated Le Roux Global to ensure our families adopted a hands-on approach and manage our own financial affairs to ensure we preserve the future legacy of our families. Le Roux Global as a Multi-Family Office has shifted its focus to provide family office services to our associated and directly related families within a private investment club and focuses on the sustainability of wealth preservation to the benefit of future generations. |