Family Office & Billionaire Report - Empowering Family Dynasties

At the kickoff of the Women in the World Summit, Clinton said Russia needed to be put in its "proper place," with IMF chief Christine Lagarde at her side.

A report by the Canadian Centre for Policy Alternatives shows that the country's 86 richest individuals and families — or 0.002 per cent of the total population — are getting exponentially richer and now have accumulated as much wealth as the country's poorest 11.4 million.

Zachary Karabell's new book, The Leading Indicators, shows the problem of relying too heavily on traditional economic measurements

Happiness isn't easy. Here are some tips.

Last year we launched our first Disruptors debate, as we asked has tech killed the music industry? This year we’ve decided to concentrate on another area close to Virgin’s heart – entrepreneurship. AsRichard Branson explains… #VirginDisruptors Live from Silicon Valley, May 9th – watch live...

For founders, every idea seems like the next big thing. Now, imagine sitting on the investor side of the table.

On Christmas Eve in 2010, Patrick Dowd was on the Jagriti Yatri, a train journey which takes hundreds of India’s youth, particularly those from small towns and villages, on a 15-day, 8000 km national odyssey to meet inspirational figures, including social and business entrepreneurs. Usually over 20,000 millennials apply for [...]

Think you have what it takes?

Full of energy, going through rapid changes, still learning to understand the world around them, and overconfident. For anyone who has, knows, or once was a teenager, these characteristics ring all too true. Yet these traits are also consistently exhibited by entrepreneurs and their nascent startups. Like teenagers, entrepreneurs see [...]

Where should families take and not take risks. Professional management's value-add to a family is knowing where money can be made and where money can't be made. Money can be made in the private markets -- which is where most of the wealthiest family in fact make their money. Money can't be made -- or, at least it is highly unlikely -- in the publicly traded markets.

There are two key ways in which professional management adds value to the wealthiest families investments. The first is maintaining the family's asset allocation discipline. Multiple studies find asset allocation drives 90 to 95% of risk and return. In spite of this, family members get wrapped up in the short-term emotions of the market. Professional management's job is to keep the crosshairs on the long term. The second way will be discussed in the next segment.

Thomas Paine wrote, "When we are planning for posterity, we ought to remember that virtue is not hereditary.” Similarly, when we are planning for our family’s posterity, we ought to remember that mom and dad’s management skills and financial discipline are not hereditary. For this reason, professional management of the family firm -- whether an operating business or an aggregation of investments -- is essential.