For decades, family enterprise succession was framed as a simple ‘passing of the baton’ from one leader to the next. But today’s multi-generational families are more complex, with broader ownership, evolving leadership expectations and greater interconnectedness.

Written by a team of UHNW Institute member experts (listed below), this paper presents a compelling alternative: shifting from a single decision-maker model to a collaborative, multi-generational governance structure.

In Part 1 of this comprehensive white paper, Adding New Wings to your Governance House: Systems, Structures and Practices–Good for Today… Better for Tomorrow introduces the Coalition Governance House, expanding traditional governance “rooms” (ownership, board, management, family) into coordinated, purpose-built wings that promote clarity, inclusion and shared accountability. By moving from a single decision-maker to a “multi-generational coalition of the willing,” firms can better align around a shared purpose and leverage the collective strengths of every family branch.

This first part provides a practical roadmap for expanding governance structures to ensure the family enterprise remains future-ready and resilient across generations.

Meet the Authors:

Paul Edelman, Family Enterprise Advisor, Edelman Coaching

 

Russ Haworth, Founder, The Family Business Partnership

 

Bryn Monahan, Senior Consultant, Relative Solutions

 

Amelia Renkert-Thomas, Founder, Renkert Thomas Consulting LLC

 

Daniel Trimarchi, National Lead – Family Dynamics & Governance, KPMG Australia

 

Meredith Thomas Straight, Consultant, Renkert Thomas Consulting, LLC

 

Read Part One here. 

 

*Part 2 will be released in early March.