_edited.jpg)
Family and finances are complex.
We get it.
Our diversified family consulting ensures that every need is met,
so that you don't have to worry.
.png)
Family Governance
Harmonizing values, vision, and legacy across generations.
We take a holistic, WHY-driven approach to family governance, recognizing that each family is unique. Our process is designed to:
​
-
Uncover core family values and individual motivations
-
Establish clear structures and processes for decision-making
-
Foster open communication and conflict resolution
-
Prepare future generations for leadership and stewardship
-
Align family, business, and philanthropic goals
Our Family Governance service is designed to create a robust framework that aligns your family's values with your wealth management strategies, ensuring long-term family harmony and sustainable success.
How do we achieve these goals?
We partner with your family in leading you through seven key components.
1.
Comprehensive Family Assessment
​​
-
Utilize the WHY Institute tools to uncover individual and collective motivations
-
Conduct in-depth interviews with family members across generations
-
Analyze current family dynamics, strengths, and areas for improvement
2.
​​​
-
Facilitate collaborative sessions to articulate shared family values and mission
-
Draft a comprehensive Family Constitution
Family Constitution Development
3.
Next Gen Education and Integration
-
Develop tailored education programs for younger family members
-
Create mentorship programs pairing experienced family members with the next generation
-
Connect younger members to the family's history and values
4.
Succession Planning
-
Facilitate open discussions about leadership transition
-
Develop clear criteria for leadership roles within the family and family businesses
-
Create individual development plans for potential future leaders
-
Establish a timeline and process for leadership transitions
5.
Conflict Resolution Framework
-
Implement structured processes for addressing family disagreements
-
Provide training in constructive communication and negotiation skills
-
Establish a neutral mediation process for complex disputes
6.
Family Philanthropy Alignment
-
Facilitate discussions on shared philanthropic goals
-
Establish structures for collaborative giving decisions
-
Create opportunities for next-generation involvement in philanthropy
7.
Regular Review and Adaptation
-
Conduct annual family governance health checks
-
Facilitate periodic revisions of the Family Constitution as needed
-
Provide ongoing support and guidance as family dynamics evolve
The MAG7 Difference
Our unique path to mastering family governance.
WHY-Driven Approach: We leverage insights
from the WHY Institute to ensure governance
structures align with individual and collective
family motivations.
​
Intergenerational Focus: Our strategies are
designed to engage all generations, promoting
buy-in and long-term sustainability.
​
Customization: We recognize that no two
families are alike and tailor our approach to
your unique dynamics and objectives.
​
Holistic Perspective: We consider all aspects of
family wealth - human, intellectual, social, and
financial - in our governance framework.
Expert Facilitation: Our seasoned consultants guide you through sensitive discussions and decision-making processes with skill and empathy.
​
Technology Integration: We incorporate cutting-edge tools for virtual collaboration and secure information sharing among family members.
​
Global Best Practices: We draw on international research and case studies to inform our governance recommendations.
Interested in getting started?
Implementing effective family governance is a journey, not a destination. At MAG7 Consulting, we're committed to guiding you through every step of this crucial process. We begin with an initial consultation to understand your family's unique situation and goals, followed by a tailored proposal outlining our recommended approach.
​
Invest in your family's future today. Let's work together to create a governance framework that will stand the test of time, ensuring your family's values, wealth, and legacy thrive for generations to come.
​​
Our phased programs support you through three key life stages:
_edited.jpg)
A blueprint for generational success.
Family Constitutions
What is a Family Constitution?
A Family Constitution, also known as a Family Charter or Family Agreement, is a formal document that codifies a family's shared values, vision, and governance structure.
It serves as a living blueprint for how family members interact, make decisions, and manage their collective resources across generations.
A Family Constitution is more than just a document; it's a powerful tool for ensuring your family's values, wealth, and legacy endure for generations. At MAG7 Consulting, we're committed to guiding you through the process of creating a constitution that truly reflects your family's unique identity and aspirations.
What is the importance of a Family Constitution?
Preserving Family Legacy
Articulates and perpetuates the family's core values and mission
Ensures that the family's history and lessons learned are passed down
Creates a sense of identity and belonging for current and future generations
Promoting Family Harmony
Establishes clear expectations for family member behavior and interactions
Provides a framework for addressing and resolving conflicts
Fosters open communication and transparency among family members
Facilitating Decision-Making
Outlines clear processes for family decision-making
Defines roles and responsibilities within the family structure
Ensures that all voices are heard and respected in family matters
Protecting Family Wealth
Establishes guidelines for responsible wealth management
Defines parameters for family investments and business involvement
Creates structures for philanthropic activities aligned with family values
Preparing Future Generations
Outlines education and development plans for younger family members
Sets expectations for family member contributions and responsibilities
Provides a roadmap for leadership succession and wealth transfer
Adapting to Change
Includes mechanisms for reviewing and updating the constitution
Allows the family to evolve while maintaining core principles
Helps navigate unforeseen challenges and opportunities
Key Components of a Family Constitution
Family History and Values
A narrative of the family's origins and key milestones
Articulation of core family values and principles
Family Vision and Mission
A shared vision for the family's future
The family's mission statement and long-term objectives
Governance Structure
Outline of family councils or committees
Decision-making processes and voting structures
Roles and Responsibilities
Expectations for family member participation
Leadership roles and how they are assigned or elected
Wealth Management Principles
Guidelines for family investments and business involvement
Policies on wealth distribution and inheritance
Education and Development
Plans for preparing next generations for leadership
Expectations for individual growth and contribution
Conflict Resolution Mechanisms
Processes for addressing disagreements
Mediation and arbitration procedures
​​Family Communication
Frequency and format of family meetings
Protocols for sharing information among family members
Philanthropy and Social Responsibility
Family approach to charitable giving
Expectations for community involvement
Amendment Process
Procedures for reviewing and updating the constitution
Mechanisms for adapting to changing family dynamics
The MAG7 Approach to Developing a Family Constitution
Bespoke.
Designed and made by hand.
At MAG7 Consulting, we recognize that creating a Family Constitution is a deeply personal and often complex process. Our approach is designed to be collaborative, inclusive, and tailored to each family's unique needs
We will lead you through six key steps to hand craft your own Family Constitution.
Discovery Phase
Conduct in-depth interviews with family members across generations
Utilize WHY Institute assessments to understand individual motivations
Research family history and identify key legacy elements
Values Alignment
Facilitate workshops to articulate shared family values
Guide discussions on family vision and long-term objectives
Help define the family's mission statement
Structure Development
Work with the family to design appropriate governance structures
Develop decision-making processes that respect all voices
Create roles and responsibilities aligned with family values
Draft and Refine
Compile all elements into a comprehensive draft constitution
Facilitate family reviews and discussions of the draft
Refine the document based on family feedback
Implementation Planning
Develop strategies for introducing the constitution to all family members
Create educational materials to ensure understanding and buy-in
Plan the official adoption and signing of the constitution
Ongoing Support
Provide guidance on implementing constitutional provisions
Facilitate regular reviews and updates of the document
Offer mediation support for any challenges that arise
A well-crafted Family Constitution can have profound and lasting effects.
Strengthened Family Bonds
By clearly articulating shared values and expectations, the constitution fosters a sense of unity and common purpose.
Preserved Wealth
Clear guidelines for wealth management help protect and grow family assets across generations.
​Smooth Transitions
Succession planning elements ensure leadership transitions are handled thoughtfully and systematically.
Conflict Mitigation
By providing clear processes for decision-making and conflict resolution, the constitution reduces the likelihood and impact of family disagreements.
Legacy Perpetuation
The constitution ensures that the family's values, history, and mission continue to guide future generations.
Adaptive Resilience
Regular reviews and updates allow the family to remain resilient in the face of changing circumstances and generational shifts
Let's preserve your family's legacy.
Together.
A Family Constitution is more than just a document; it's a powerful tool for ensuring your family's values, wealth, and legacy endure for generations. At MAG7 Consulting, we're committed to guiding you through the process of creating a constitution that truly reflects your family's unique identity and aspirations.
​
Invest in your family's future today. Let's work together to craft a Family Constitution that will serve as the foundation for your family's continued success and harmony.
Young Entrepreneurs
Empowering the next generation of leaders.
At MAG7 Consulting, we recognize the importance of nurturing the next generation's potential to sustain and grow your family's legacy.
Our Young Entrepreneurs program is tailored to develop business acumen, foster innovation, and instill a sense of purpose in your family's rising stars.
What's our method?
Our comprehensive program guides young family members through key aspects of personal and professional development, equipping them with the skills and experiences needed to thrive in the business world while upholding family values
What are the benefits?
We help develop critical thinking and problem-solving skills, build confidence and leadership abilities​, and gain practical business knowledge and experience. We facilitate your creation of a support network of mentors and like-minded peers and align personal career goals with family values and legacy.
Our six key components.
1
Personalized Assessment:
-
Utilize the WHY Institute tools to uncover individual motivations and strengths
-
Identify areas of passion and potential for each participant
-
Create a personalized development plan based on assessment results
2
Foundational Business Education
-
Interactive workshops on business finance, marketing, operations.
-
Case studies of successful family businesses and entrepreneurs
-
Seminars on emerging business trends and technologies
3
Mentorship and Coaching
-
One-on-one sessions with experienced entrepreneurs and industry experts
-
Regular check-ins with MAG7 advisors for personalized guidance
-
Family business leaders sharing insights and experiences
Career Launch Assistance
-
Guidance on resume building and interview preparation
-
Support in securing valued internships
-
Assistance in job search strategies and connections to industry partners.
4
Development and presentation
-
Training in effective communication and presentation skills
-
Opportunity to pitch ideas or career goals to a panel of family and business leaders
-
Feedback sessions to refine presentation skills and build confidence
5
Networking and Collaboration
-
Facilitated connections with peer groups from other entrepreneurial families
-
Attendance at relevant industry events and conferences
-
Workshops on building and maintaining professional relationships
6
The MAG7 difference.
Our Young Entrepreneurs program goes beyond traditional career development.
Aligning individual passions with family values and business interests
Encouraging responsible decision-making and learning from experiences
Fostering a global perspective and social responsibility
Developing emotional intelligence alongside business acumen
Creating opportunities for intergenerational collaboration and knowledge sharing
Let's work together.
By nurturing the potential in your family's next generation, we help ensure that your legacy continues to grow and evolve. Our program empowers young family members to create their own success stories while honoring and building upon the foundations laid by previous generations.
​
Invest in your family's future. Let's cultivate the leaders who will carry your legacy forward and make their own meaningful impact in the business world.
.png)
Strategic partnerships to provide our clients with the most comprehensive and innovative solutions.
Our Collaborations
We've partnered with Dinner Table, a unique family coaching lesson planner with an accompanying finance game for children, Gravy Stack, designed to complement our progressive program and give you an unparalleled experience.
Build a sustainable view of wealth with your children.
Increase family unity.
Increase healthy communication habits.
Courses designed specifically for you and your family.
We've also partnered with the WHY Institute to bring a scientifically explanatory insight to yourself and your relationships
Discover your WHY and the challenges, characteristics, and ways others interact with you based on how you live your life to the fullest.
By integrating these collaborations into our service offerings, MAG7 Consulting provides a unique, holistic approach to family governance and wealth management:
Comprehensive Understanding
Combining WHY Institute insights with Dinner Table / Gravy Stack tools gives us a 360-degree view of family dynamics and needs.
Tailored Solutions
We craft highly personalized strategies that resonate with each family's unique motivations and communication styles.
Engagement Across Generations
Our collaborative tools ensure that all family members, regardless of age, can actively participate in the family's governance process.
Continuous Improvement
Regular assessments and structured discussions facilitate ongoing refinement of family strategies and governance structures.
Future-Proofing Family Legacies
By aligning core motivations with effective communication and decision-making tools, we help families build robust, adaptable governance systems that stand the test of time.
At MAG7 Consulting, we're committed to leveraging the best tools and methodologies in the industry. Our collaborations with the WHY Institute and Dinner Table / Gravy Stack exemplify this commitment, enabling us to provide unparalleled service in guiding families towards lasting harmony, prosperity, and impact.