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Page history last edited by Gene Lipitz 6 years, 4 months ago Saved with comment


The Obligation to Participate

I will plan, prepare, and make decisions in a timely manner. I will help focus my advisers efforts where they are best used and needed and mentor and teach other members of my family and team over time to work with the adviser.


  1. Make Decisions: I will make thoughtful decisions in a timely manner or I will provide adequate discretion to my adviser.
  2. Preparation: I will do my homework before meeting with my adviser.
  3. Plan: I will approve and/or help my adviser prepare and implement financial plans, succession plans, and others.
  4. Mentor and Teach: I will help my family members engage in the wealth management process.
  5. Collaborate: I will work with my adviser at least to the extent of participation described in our agreement.
  6. Best Use: I agree to focus my adviser’s primary efforts upon work that makes uses of his or her strongest capabilities, as reflected in our agreements.



Key Questions


1.  Does the family regard themselves as purely "clients" or do they see themselves as partners in creating a highly functional organization?


How do I decide what formal processes I need? A decision tree from Matt Erskine:


2014_9_15 short Decision Tree and process anaysis.pdf

Home: Rights and Obligations


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