Three Pillars of Family Wealth Management

1. Creating Wealth - 

Wealth needs to be created  on continuous basis by doing a profitable and sustainable business.This is the pillar where there is a major focus of the family .However , there is a pressing need to re-evaluate all the assumption on which the business is being run today.

2 .  Enhancing Wealth

Wealth Created  by the family over generations needs to be enhanced outside the business with the use effective asset allocation.This calls for a proper Investment Philosophy appropriate for the family depending on its present and future financial needs and values.

3 . Safeguarding Wealth 

Most of the wealth created over generations is not ring fenced in most of the family business.Safeguarding family wealth from external  changes like Estate Laws or internal factors like family dispute or business downturn has became of prime importance.Sea changes have been made in most of the Family Laws like The Hindu Marriage Act , Married Women's Property Act , Hindu Succession Act etc .This can not only impact the relationships and chain of command in the family business but can also bring it to a standstill.