最近的分行

最近的分行

家族

子女作为合作伙伴:扩大家族决策圈子

2022年8月29日

为何及何时应当让子女参与家族决策?

让子女参与家族企业、家族办公室或投资的运营和决策,是让子女学习要领的绝佳机会。

家族应如何安排下一代进家族企业和参与私人财富事务,何时开始是好时机?

在本期「人生与财富」节目中,来自摩根大通私人银行财富顾问事务团队的Nathalia Murphy、Carolina Cintra和Carol Mushriqui探讨让下一代参与家族决策的一些好处,并分享开始时机方面的一些建议。

点击此处可查看我们完整的「人生与财富」节目列表。

This podcast is intended for informational purposes only, and is a communication on behalf of J.P. Morgan Securities LLC, a member of FINRA and SIPC. J.P. Morgan and its affiliates and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transactions.

 

Views may not be suitable for all investors and are not intended as personal investment advice or as a solicitation or recommendation. Outlooks and Past Performance are never guarantees of future results. This is not investment research. Please read the important information section.

 

Natalia: Hello everyone, and a warm welcome to this new episode of the Life & Legacy Podcast Series!  My name is Natalia Murphy and I’m a Wealth Advisor on Team Mexico at J.P. Morgan Private Bank. Today, I am joined by my colleagues Carolina Cintra, Wealth Advisor for Brazil, and Carol Mushriqui, Wealth Advisor for the Middle East and Turkey.

 

A really gratifying thing about our jobs as wealth advisors is that we get to meet fantastic families in our respective regions and become involved with them in their decisions on how best to preserve, and eventually pass on, their family wealth. Usually the patriarchs or matriarchs of the family are the primary decision-makers when it comes to passing on family wealth. But frequently they want to involve their children, or what we refer to as the Next Gen, in the decision-making process. Today we will discuss what are some of the benefits of including the next gen in such decisions, and share some tips on how best to get started.

 

Carolina, you’ve worked with many families in helping them manage their wealth and legacy. Could you describe the benefits you’ve seen when parents include children in the decision-making regarding their wealth?

 

Carolina: Thanks Natalia, and hello everyone! What I’ve seen is that involving children in the operations, and eventually decision-making, of the family’s businesses, family offices or investments provides an excellent opportunity to teach children the ropes. In leading by example, parents can teach their children what they do and how they work with others. This is especially relevant when other parties are impacted in the transition, for example employees and business partners. Having the current and the next gen together for a period makes the process smoother when the actual transition happens. All parties know each other already which makes the transition easier.

 

Carol: Absolutely Carolina, I couldn’t agree more. Numerous studies have shown that the number one reason why families have failed to transition wealth to the next generation is due to a breakdown in communication between generations and family members. Involving children early on in the decision-making process provides a wonderful opportunity to nurture family relationships and develop those essential communication skills.

 

And from the perspective of the next generation, I think it is very important for them to feel that their opinion and perspective is heard and valued in the family. From my experience and interaction with the NextGen, there can often be a sense of frustration if they feel they are not as involved as they would like to be.  They struggle to find a sense of identity and purpose, particularly in the context of a family business. The more involved they are in the decision-making process, and the more exposure they get to learn from their parents, the better equipped they will be to take on their future roles and responsibilities with confidence and success.

 

Carolina: Correct… there’s nothing that pleases parents more than to see their children succeed in life!

 

Natalia: Well said, Carolina. In my experience, too, I find that the benefit of being able to pass on core values as well as the vision for the family going forward is really important to parents. 

 

Carol, you also touched on an important benefit – that is, the opportunity for the NextGen to learn.  Of course, one very important aspect of this is that siblings learn how to work with each other.  They create shared understandings and learn how to resolve conflicts among each other, which is crucial for future decision-making.  And as the relationships between family members develop and grow, this also enhances the quality of decisions that children can make independently and collectively within the family. It also imparts a work ethic to the children and allows for the satisfaction that comes from making a contribution to the family’s flourishing.

 

Carolina: Also, importantly, it helps both the parents and children identify their own strengths and areas for development, perhaps giving them a better handle on what educational and practical experiences they want to pursue. For example, a family I was speaking to recently was very focused on preparing the NextGen for its participation in the board of directors. They ran a number of programs to encourage the NextGen to take an active role in the company and learn the skills they need to be an effective director. The topics covered were vast, from business and financial issues to softer matters that the next gen found interesting and helpful. More than the content, these programs helped the next gen to connect with other family members, revive shared values and also think about and discuss new ideas and endeavours together.

 

Natalia: That’s a great example Carolina. Families often ask us how and when they should start involving their children in decision-making. Carol, do you have any thoughts on this?

 

Carol: Well, firstly Natalia, I don’t think there is a “one size fits all” approach here. What works for one family may not necessarily work for another. But typically I would say that the earlier you start the better, and I would consider maturity before age to be the determining factor.

 

For example, one family I worked with wanted to teach their children, who were in their mid-teens, how to handle a budget, and so the gave them the task of working together to plan a family holiday within a fixed budget. The children had to work together to decide where and when, and how they would get to their holiday destination, where they would stay and what activities they would do together – with no input from their parents! I thought this was a great way to encourage their three children to work together and make decisions on behalf of the family, in an age-appropriate way, before involving them in more complex business decisions.

 

Carolina: What a fantastic idea! Similarly, one family I worked with were also keen to involve their next gen in investment decisions, and so they created a separate fund specifically for philanthropy and asked their children to manage that. They started with a small amount initially, but to encourage their children, they agreed to match the return on investment on an annual basis. We worked closely with the children to determine the causes that they felt passionate about, and how they wanted to invest the initial funds, but I tell you the satisfaction that they experienced during that journey was remarkable and the skills and sense of achievement that they gained has really prepared them well for their future roles within their family’s business.

 

Natalia, from your experience, do you have any other tips of best practices to share with our audience?

 

Natalia: What great examples you have both shared on ways other families have involved the next generation in their family decision making. I think, more generally, I would encourage our listeners to show a willingness to involve the NextGen… show them that you want their opinion, and want them to be involved. And also to see the value in their perspective, even if it’s different to your own. One of my clients told me recently that his son has made a hugely successful investment in the e-gaming industry, an investment which initially his father was completely against. It is often the case that a different opinion can offer a fresh perspective, and revive struggling businesses or investments. So I would urge our listeners to listen to their young people and take into consideration their thoughts and views.

 

Carol: Absolutely Natalia. I think it’s also really important that the NextGen are given the license to fail, and that parents provide a soft landing for them when they do so. It’s human nature to look back with rose tinted glasses and share stories of success and triumph. But in my experience, it’s just as important to share stories of failure and disappointment. This gives the next generation permission to try new things and to fail if necessary – no one gets everything right! As one of my clients said to me recently “overnight success take a long, long time” – probably after a string of failed attempts!

Carolina: That’s so true Carol.

 

Well, I think that this a great note on which to end this podcast. Your Wealth advisors at JPMorgan, all around the world, are here to help you make sure you achieve your goals and plan carefully for the successful transition of your wealth. We are speaking to families more and more on how to prepare the next generation, and would be delighted to share our thoughts and experiences with you.

 

Thank you for joining us today and we hope you’ve enjoyed this episode of our Life and Legacy Podcast Series.

了解更多成为摩根大通私人银行客户的详情。

敬请提供有关您的个人资料,我们的客户服务团队人员将会与您联络。

*必填栏目

了解更多成为摩根大通私人银行客户的详情。

敬请提供有关您的个人资料,我们的客户服务团队人员将会与您联络。

输入您的名字

> or < are not allowed

Only 40 characters allowed

输入您的姓氏

> or < are not allowed

Only 40 characters allowed

选择您居住的国家

输入有效的街道地址

> or < are not allowed

Only 255 characters allowed

输入您的城市

> or < are not allowed

Only 35 characters allowed

选择您的国家

> or < are not allowed

输入您的邮编

请输入邮编

> or < are not allowed

Only 10 characters allowed

输入您的邮政编码

请输入邮编

> or < are not allowed

Only 10 characters allowed

输入您的电话号码

关于您的资料

0/1000

Only 1000 characters allowed

未勾选复选框

最近浏览内容

重要信息

This material is for informational purposes only, and may inform you of certain products and services offered by private banking businesses of JPMorgan Chase & Co. (“JPM”). Products and services described, as well as associated fees, charges and interest rates, are subject to change in accordance with the applicable account agreements and may differ among geographic locations.

Not all products and services are offered at all locations. If you are a person with a disability and need additional support accessing this material, please contact your J.P. Morgan team or email us at accessibility.support@jpmorgan.com for assistance. Please read all Important Information.

GENERAL RISKS & CONSIDERATIONS
Any views, strategies or products discussed in this material may not be appropriate for all individuals and are subject to risks. Investors may get back less than they invested, and past performance is not a reliable indicator of future results. Asset allocation/diversification does not guarantee a profit or protect against loss. Nothing in this material should be relied upon in isolation for the purpose of making an investment decision. You are urged to consider carefully whether the services, products, asset classes (e.g., equities, fixed income, alternative investments, commodities, etc.) or strategies discussed are suitable to your needs. You must also consider the objectives, risks, charges and expenses associated with an investment service, product or strategy prior to making an investment decision. For this and more complete information, including discussion of your goals/situation, contact your J.P. Morgan team.

NON-RELIANCE
Certain information contained in this material is believed to be reliable; however, JPM does not represent or warrant its accuracy, reliability or completeness, or accept any liability for any loss or damage (whether direct or indirect) arising out of the use of all or any part of this material. No representation or warranty should be made with regard to any computations, graphs, tables, diagrams or commentary in this material, which are provided for illustration/reference purposes only. The views, opinions, estimates and strategies expressed in this material constitute our judgment based on current market conditions and are subject to change without notice. JPM assumes no duty to update any information in this material in the event that such information changes. Views, opinions, estimates and strategies expressed herein may differ from those expressed by other areas of JPM, views expressed for other purposes or in other contexts, and this material should not be regarded as a research report. Any projected results and risks are based solely on hypothetical examples cited, and actual results and risks will vary depending on specific circumstances. Forward-looking statements should not be considered as guarantees or predictions of future events.

Nothing in this document shall be construed as giving rise to any duty of care owed to, or advisory relationship with, you or any third party. Nothing in this document shall be regarded as an offer, solicitation, recommendation or advice (whether financial, accounting, legal, tax or other) given by J.P. Morgan and/or its officers or employees, irrespective of whether or not such communication was given at your request. J.P. Morgan and its affiliates and employees do not provide tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any financial transactions.

IMPORTANT INFORMATION ABOUT YOUR INVESTMENTS AND POTENTIAL CONFLICTS OF INTEREST

Conflicts of interest will arise whenever JPMorgan Chase Bank, N.A. or any of its affiliates (together, “J.P. Morgan”) have an actual or perceived economic or other incentive in its management of our clients’ portfolios to act in a way that benefits J.P. Morgan. Conflicts will result, for example (to the extent the following activities are permitted in your account): (1) when J.P. Morgan invests in an investment product, such as a mutual fund, structured product, separately managed account or hedge fund issued or managed by JPMorgan Chase Bank, N.A. or an affiliate, such as J.P. Morgan Investment Management Inc.; (2) when a J.P. Morgan entity obtains services, including trade execution and trade clearing, from an affiliate; (3) when J.P. Morgan receives payment as a result of purchasing an investment product for a client’s account; or (4) when J.P. Morgan receives payment for providing services (including shareholder servicing, recordkeeping or custody) with respect to investment products purchased for a client’s portfolio. Other conflicts will result because of relationships that J.P. Morgan has with other clients or when J.P. Morgan acts for its own account.

Investment strategies are selected from both J.P. Morgan and third-party asset managers and are subject to a review process by our manager research teams. From this pool of strategies, our portfolio construction teams select those strategies we believe fit our asset allocation goals and forward-looking views in order to meet the portfolio’s investment objective.

As a general matter, we prefer J.P. Morgan managed strategies. We expect the proportion of J.P. Morgan managed strategies will be high (in fact, up to 100 percent) in strategies such as, for example, cash and high-quality fixed income, subject to applicable law and any account-specific considerations.

While our internally managed strategies generally align well with our forward-looking views, and we are familiar with the investment processes as well as the risk and compliance philosophy of the firm, it is important to note that J.P. Morgan receives more overall fees when internally managed strategies are included. We offer the option of choosing to exclude J.P. Morgan managed strategies (other than cash and liquidity products) in certain portfolios.

The Six Circles Funds are U.S.-registered mutual funds managed by J.P. Morgan and sub-advised by third parties. Although considered internally managed strategies, JPMC does not retain a fee for fund management or other fund services.

LEGAL ENTITY, BRAND & REGULATORY INFORMATION

In the United States, bank deposit accounts and related services, such as checking, savings and bank lending, are offered by JPMorgan Chase Bank, N.A. Member FDIC.

JPMorgan Chase Bank, N.A. and its affiliates (collectively “JPMCB”) offer investment products, which may include bank managed investment accounts and custody, as part of its trust and fiduciary services. Other investment products and services, such as brokerage and advisory accounts, are offered through J.P. Morgan Securities LLC (“JPMS”), a member of FINRA and SIPC. Insurance products are made available through Chase Insurance Agency, Inc. (CIA), a licensed insurance agency, doing business as Chase Insurance Agency Services, Inc. in Florida. JPMCB, JPMS and CIA are affiliated companies under the common control of JPM. Products not available in all states.

In Germany, this material is issued by J.P. Morgan SE, with its registered office at Taunustor 1 (TaunusTurm), 60310 Frankfurt am Main, Germany, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB). In Luxembourg, this material is issued by J.P. Morgan SE – Luxembourg Branch, with registered office at European Bank and Business Centre, 6 route de Treves, L-2633, Senningerberg, Luxembourg, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE – Luxembourg Branch is also supervised by the Commission de Surveillance du Secteur Financier (CSSF); registered under R.C.S Luxembourg B255938. In the United Kingdom, this material is issued by J.P. Morgan SE – London Branch, registered office at 25 Bank Street, Canary Wharf, London E14 5JP, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE – London Branch is also supervised by the Financial Conduct Authority and Prudential Regulation Authority. In Spain, this material is distributed by J.P. Morgan SE, Sucursal en España, with registered office at Paseo de la Castellana, 31, 28046 Madrid, Spain, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE, Sucursal en España is also supervised by the Spanish Securities Market Commission (CNMV); registered with Bank of Spain as a branch of J.P. Morgan SE under code 1567. In Italy, this material is distributed by J.P. Morgan SE – Milan Branch, with its registered office at Via Cordusio, n.3, Milan 20123, Italy, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE – Milan Branch is also supervised by Bank of Italy and the Commissione Nazionale per le Società e la Borsa (CONSOB); registered with Bank of Italy as a branch of J.P. Morgan SE under code 8076; Milan Chamber of Commerce Registered Number: REA MI 2536325. In the Netherlands, this material is distributed by J.P. Morgan SE – Amsterdam Branch, with registered office at World Trade Centre, Tower B, Strawinskylaan 1135, 1077 XX, Amsterdam, The Netherlands, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE – Amsterdam Branch is also supervised by De Nederlandsche Bank (DNB) and the Autoriteit Financiële Markten (AFM) in the Netherlands. Registered with the Kamer van Koophandel as a branch of J.P. Morgan SE under registration number 72610220. In Denmark, this material is distributed by J.P. Morgan SE – Copenhagen Branch, filial af J.P. Morgan SE, Tyskland, with registered office at Kalvebod Brygge 39-41, 1560 København V, Denmark, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE – Copenhagen Branch, filial af J.P. Morgan SE, Tyskland is also supervised by Finanstilsynet (Danish FSA) and is registered with Finanstilsynet as a branch of J.P. Morgan SE under code 29010. In Sweden, this material is distributed by J.P. Morgan SE – Stockholm Bankfilial, with registered office at Hamngatan 15, Stockholm, 11147, Sweden, authorized by the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) and jointly supervised by the BaFin, the German Central Bank (Deutsche Bundesbank) and the European Central Bank (ECB); J.P. Morgan SE – Stockholm Bankfilial is also supervised by Finansinspektionen (Swedish FSA); registered with Finansinspektionen as a branch of J.P. Morgan SEIn France, this material is distributed by JPMorgan Chase Bank, N.A.–Paris Branch, registered office at 14,Place Vendome, Paris 75001, France which is regulated by the French banking authorities the Autorité de Contrôle Prudentiel et de Résolution and the Autorité des Marchés. In Switzerland, this material is distributed by J.P. Morgan (Suisse) SA, with registered address at rue du Rhône, 35, 1204, Geneva, Switzerland, which is authorised and supervised by the Swiss Financial Market Supervisory Authority (FINMA) as a bank and a securities dealer in Switzerland. 

This communication is an advertisement for the purposes of the Markets in Financial Instruments Directive (MIFID II) and the Swiss Financial Services Act (FINSA) and investors should not subscribe for or purchase any financial instruments referred to in this advertisement except on the basis of information contained in any applicable legal documentation, which is or shall be made available in the relevant jurisdictions.

In Hong Kong, this material is distributed by JPMCB, Hong Kong branch. JPMCB, Hong Kong branch is regulated by the Hong Kong Monetary Authority and the Securities and Futures Commission of Hong Kong. In Hong Kong, we will cease to use your personal data for our marketing purposes without charge if you so request. In Singapore, this material is distributed by JPMCB, Singapore branch. JPMCB, Singapore branch is regulated by the Monetary Authority of Singapore. Dealing and advisory services and discretionary investment management services are provided to you by JPMCB, Hong Kong/Singapore branch (as notified to you). Banking and custody services are provided to you by JPMCB Singapore Branch. The contents of this document have not been reviewed by any regulatory authority in Hong Kong, Singapore or any other jurisdictions. You are advised to exercise caution in relation to this document. If you are in any doubt about any of the contents of this document, you should obtain independent professional advice. For materials which constitute product advertisement under the Securities and Futures Act and the Financial Advisers Act, this advertisement has not been reviewed by the Monetary Authority of Singapore. JPMorgan Chase Bank, N.A. is a national banking association chartered under the laws of the United States, and as a body corporate, its shareholder’s liability is limited.

With respect to countries in Latin America, the distribution of this material may be restricted in certain jurisdictions. We may offer and/or sell to you securities or other financial instruments which may not be registered under, and are not the subject of a public offering under, the securities or other financial regulatory laws of your home country. Such securities or instruments are offered and/or sold to you on a private basis only. Any communication by us to you regarding such securities or instruments, including without limitation the delivery of a prospectus, term sheet or other offering document, is not intended by us as an offer to sell or a solicitation of an offer to buy any securities or instruments in any jurisdiction in which such an offer or a solicitation is unlawful. Furthermore, such securities or instruments may be subject to certain regulatory and/or contractual restrictions on subsequent transfer by you, and you are solely responsible for ascertaining and complying with such restrictions. To the extent this content makes reference to a fund, the Fund may not be publicly offered in any Latin American country, without previous registration of such fund’s securities in compliance with the laws of the corresponding jurisdiction. Public offering of any security, including the shares of the Fund, without previous registration at Brazilian Securities and Exchange Commission—CVM is completely prohibited. Some products or services contained in the materials might not be currently provided by the Brazilian and Mexican platforms.

JPMorgan Chase Bank, N.A. (JPMCBNA) (ABN 43 074 112 011/AFS Licence No: 238367) is regulated by the Australian Securities and Investment Commission and the Australian Prudential Regulation Authority. Material provided by JPMCBNA in Australia is to “wholesale clients” only. For the purposes of this paragraph the term “wholesale client” has the meaning given in section 761G of the Corporations Act 2001 (Cth). Please inform us if you are not a Wholesale Client now or if you cease to be a Wholesale Client at any time in the future.

JPMS is a registered foreign company (overseas) (ARBN 109293610) incorporated in Delaware, U.S.A. Under Australian financial services licensing requirements, carrying on a financial services business in Australia requires a financial service provider, such as J.P. Morgan Securities LLC (JPMS), to hold an Australian Financial Services Licence (AFSL), unless an exemption applies. JPMS is exempt from the requirement to hold an AFSL under the Corporations Act 2001 (Cth) (Act) in respect of financial services it provides to you, and is regulated by the SEC, FINRA and CFTC under U.S. laws, which differ from Australian laws. Material provided by JPMS in Australia is to “wholesale clients” only. The information provided in this material is not intended to be, and must not be, distributed or passed on, directly or indirectly, to any other class of persons in Australia. For the purposes of this paragraph the term “wholesale client” has the meaning given in section 761G of the Act. Please inform us immediately if you are not a Wholesale Client now or if you cease to be a Wholesale Client at any time in the future.

This material has not been prepared specifically for Australian investors. It:

  • May contain references to dollar amounts which are not Australian dollars;
  • May contain financial information which is not prepared in accordance with Australian law or practices;
  • May not address risks associated with investment in foreign currency denominated investments; and
  • Does not address Australian tax issues.

References to “J.P. Morgan” are to JPM, its subsidiaries and affiliates worldwide. “J.P. Morgan Private Bank” is the brand name for the private banking business conducted by JPM. This material is intended for your personal use and should not be circulated to or used by any other person, or duplicated for non-personal use, without our permission. If you have any questions or no longer wish to receive these communications, please contact your J.P. Morgan team. 

© 2022 JPMorgan Chase & Co. All rights reserved.

请浏览 FINRA Brokercheck网站以了解更多我们的公司及投资专才。

投资产品(可能包括银行管理账户及托管)乃由 JPMorgan Chase Bank, N.A.及其关联公司(合称「摩根大通银行」 )作为其一部分信托及委托服务而提供。其他投资产品及服务(例如证券经纪及咨询账户)乃由 摩根大通证券(J.P. Morgan Securities LLC)(「摩根大通证券」)提供。摩根大通证券是金融业监管局证券投资者保护公司的成员。摩根大通银行及摩根大通证券均为受摩根大通共同控制的关联公司。产品不一定于美国所有州份提供。请与本网站内容一并阅览法律免责声明

投资产品: • 不受联邦存款保险公司保障 • 非摩根大通银行或其任何联属机构的存款或其他负债,亦未获摩根大通银行或其任何联属机构的担保 • 存在投资风险,包括可能损失投资的本金

银行存款产品(例如支票、储蓄及银行贷款)及相关服务乃由摩根大通银行(JPMorgan Chase Bank, N.A.)提供。 摩根大通银行是美国联邦存款保险公司的成员。并非借贷承诺。授信额度均须经信贷审批。