Family Wealth System

Important forms of capital within each subsystem of the Family Wealth System

	Family subsystem	Business subsystem	Investment/Family Office subsystem	Philanthropic Subsystem
	Relational competencies:	Business competencies:	Investment competencies:	Charitable competencies:
Important forms of Human Capital	Emotional intelligence Conflict management Ideas about importance of family	Management skills Understanding of oversight roles Ideas about entrepreneurship	Evaluating and monitoring investments Understanding taxes Ideas about saving versus spending	Generosity Knowing how much is enough Ideas about giving back to community and sharing wealth
Important forms of Social Capital	Connections among family members Openness to new members Ideas about participation in family	Good relations with those outside family wealth system Ideas about collaboration	Understanding how to choose and work with advisors Ideas about needs and wants	Close connections with those outside family wealth system Ideas about sharing wealth
Important forms of Financial Capital	Family home Vacation Health insurance Emergency savings	Equity interest in entities Real estate Employment relationships	Investments Savings: education, retirement., “rainy day” Insurance	Gifts of financial assets Split-interest trusts Charities and private foundations