The trouble with family secrets

Campden Wealth Bulletin, May 13, 2013

Thomas D. Davidow, Ed.D.

Every family has secrets. Trouble comes when families collude rather than talking honestly to each other about them. When family members are in business together or are connected financially, those secrets often interfere not only with family relationships, but with the family business, foundation and even the family office as well.

The quality of relationships and the measure of a group’s ability to work together can be directly correlated with their ability to communicate with one another. Quality communication involves the ability to deal with existing realities and to respond to them quickly and efficiently. If family members can’t communicate easily, their relationships suffer, the family business suffers, and the business’s success and family’s legacy are at risk.

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