Publications

Now availabile
Circular Economy Principles for Family Business and Wealth Stewardship
A New Governance and Sustainability Framework

Authors: Philip Marcovici, Kenneth T Goh and Iraj Ispahani

Publication date: June 2022
Publisher: STEP

Circularity, in broad terms, means both avoiding and finding value in ‘waste’ – not only of natural resources but also of the human resources within families, including family members not directly involved in the family business but who have a stake in the future and who need to support those in more active roles. Such family members highlight the kind of paradoxes families face – should a family member be channelled into working in the family business or be allowed (and encouraged) to pursue their own career, reflecting their personal interests and aspirations? Are there ways to achieve this that add meaningful value to the family and its wealth and business interests?

To download a digital copy or purchase a hard copy, click here.

Click here to view the recent article published by STEP.
Philip Marcovici, Kenneth T Goh and Iraj Ispahani, ‘A principled stand’, STEP Journal (Vol30 Iss3), p.15

Now available
Family Business and Responsible Wealth Ownership: Preparing the Next Generation

Editor: Iraj Ispahani
Publication date: July 2021

This title is essential reading for all generations involved in family businesses and wealth ownership. The rising next generations are the future of these families and should be better understood and supported so that family human capital is not wasted or overlooked. It is also an invaluable guide for those who advise families from a professional services or wealth management perspective.

Publication date: July 2021

To order your copy and for further details on content and themes please visit Globe Law & Business

Reviews

Peter Leach, Founder and Chairman, Peter Leach Associates Ltd

Peter Leach, Founder and Chairman, Peter Leach Associates Ltd.

Published date: March 31, 2022
International Family Offices Journal (Issue 23)

“The book has clearly been conceived with much thought and great care, with each chapter providing an illuminating description of its topic, a case study to bring the topic to life and some practical tools that families and advisers can use themselves to explore these issues as they relate to their own circumstances.”

READ MORE

Xavier Isaac, TEP, CEO of Accuro, Geneva

Published date: February 7, 2022
STEP Journal (Vol 30 Iss1.)

“I wish I could turn back the clock and put this book on the bedside table of the past two generations of family wealth owners and their advisors. Had this been possible, I would have witnessed more harmony in wealth‑owning families and sustainable practices for the deployment of their capital over the course of my career.”

READ MORE

Elizabeth Bagger, Director General,
Institute for Family Business (IFB) UK

Published date: September 22, 2021
LinkedIn

”I’m excited to have been asked to write a review of the book, Family Business and Responsible Wealth Ownership: Preparing the Next Generation, edited by our good friend Iraj Ispahani of Ispahani Advisory. It is a book that made me think differently about the connections between things and between events and their outcomes.”

READ MORE

Meet the Authors Series
Iraj Ispahani, Chief Executive Officer, Ispahani Advisory Ltd
Iraj Ispahani, Ispahani Advisory
Preface and Chapter I  Managing your context today and finding and deploying purpose

“The COVID-19 pandemic has encouraged many of us to think about our role in life and our sense of purpose. The pandemic has signalled a time to reflect and rethink who we are and what we stand for.”

For more information about Iraj click here

Jessica McGawley, Dallington Associates
Jessica McGawley, Dallington Associates
Chapter II  Effective mentoring for the next generation

“To understand any generation, we must understand what was happening in the world as they grew up. Until we do, we cannot fully grasp our own roles – as parents, advisers, mentors – in supporting them.”

For more information about Jessica click here

Charlie Bain, Digitalis
Charlie Bain, Digitalis
Chapter III  Safeguarding the family’s digital narrative: how to navigate the challenges of the social media revolution

“Today’s rising next generation, groomed to take over the family business, have been brought up in the social media era and have really known nothing else.”

For more information about Charlie click here

Dr Paul Hokemeyer, Drayson Mews International
Dr Paul Hokemeyer, Drayson Mews International
Chapter IV  #GenerationNow: resolving intergenerational conflicts through resilience and grit

“Although the defining features of generations change, a relational dynamic that unites them are the conflicts that arise when members of different generations fail to see eye to eye”

For more information about Paul click here

Caroline Underwood OBE, Philanthropy Company Philip Marcovici, The Offices of Philip Marcovici
Caroline Underwood OBE, Philanthropy Company
Philip Marcovici, The Offices of Philip Marcovici
Chapter V  Women: wealth and self-reliance

“In families that are still patriarchal, the importance of the women in the family to the long-term sustainability of family wealth and business is not always well respected or understood.”

For more information about Caroline click here and Philip click here 

 

Stefan Liniger, Kaiser Partner Wealth Advisors
Stefan Liniger, Kaiser Partner Wealth Advisors
Chapter VI  The anatomy of wealth planning: a comprehensive primer for all generations

“On the surface, wealth and succession planning may seem a purely technical subject. However, beneath any wealth or succession plan are relationships. If you consider these, you may foster virtues of independence, entrepreneurship and social responsibility, and contribute positively to the development and lives of those you care about”.

For more information about Stefan click here

Ed Lee, Bowbridge
Ed Lee, Bowbridge
Chapter VII  The family bank: creating the next generation of entrepreneurs

“Much of the secret to multi-generational success lies in minimising issues where matters are in their control, and positioning the people and financial interests within the family to best withstand external factors that are not.”

For more information about Ed click here

Jed Emerson, Tiedemann Advisors
Jed Emerson, Tiedemann Advisors
Chapter VIII  The purpose of capital: exploring our relationship with money and meaning

“The purpose of capital as wealth growth is, in truth, a means to an end.
It is the pursuit of money as tool, but it is a vision of our task – our deeper meaning and purpose – that we must maintain as our North Star.”

For more information about Jed click here

Sustainability Starts at Home, published by Tharawat Magazine

Written by: Philip Marcovici, Dr Kenneth Goh and Iraj Ispahani
Publication date: December 2021

Wealth and business-owning families are uniquely placed to contribute to a better world. Able to take a long view, a well-functioning family is positioned to take action that can have real impact. But unless the family and its own wealth and business interests are sustainable and regenerative, the longer-term ability of the family to contribute to society is at risk.

READ MORE

Non-Executive Directors in Family Business Guide, published by The Institute for Family Business (IFB)

Lead author, Elizabeth Bagger, former Director General IFB and current IAL Expert with contribution from fellow  IAL Expert, Carl Sjöström.
Publication date: September 2021

The Institute for Family Business (IFB) is proud to announce the launch of a new guide to help family businesses in the recruitment of Non-Executive Directors (NEDs).  Aimed at businesses who are relatively new to working with independent directors, the guide covers all the necessary considerations for family businesses when taking NEDs on board. 

READ MORE

Single-family offices in the 21st century – remaining fit for purpose

Written by: Iraj Ispahani and Carl Sjöström, The International Family Offices Journal
Publication date: March 2021

Often the comment is made glibly that no single family office is the same because each is built around a single family and all families are inherently different. However, there are many things that owner families can learn from each other as they build, structure and manage family offices.

The importance of a proper Plan B

Written by: Stefan Liniger
Publication date: September 2020

It’s natural to want your family to be protected should something unexpected happen to you or your wealth, like a sudden illness or economic downturn. And to believe the plans you’ve made are robust and comprehensive…

Family businesses and the increasing importance of the Family Bank

Written by: Ed Lee, Philip Marcovici and Stefan Liniger
Publication date: September 2020

Ispahani Advisory is pleased to have published this article on the Family Bank in association with the Institute for Family Business.

What is a Family Bank and why is it important for family businesses?

The American saying of ‘shirtsleeves to shirtsleeves in three generations’ originated in the late 19th century and continues to ring true for many once-wealthy families around the world, and in this age of relentless and unprecedented disruption, protecting family interests through the generations is harder than it’s ever been…

Withers White Paper – A Brave New World? Political risk minimisation for wealth and business owners

Written by: Hussein Haeri, Iraj Ispahani and Philip Marcovici
Publication date: May 2020

Family Sustainability

Publication date: January 2020

An article on Family Sustainability has just been published by Dr Khaled Soufani, Director of the Circular Economy Centre, Academic Programme Director of Family Business programmes Cambridge Judge Business School. The Circular Economy concept is of vital importance to sustainability and tackling climate change. Family businesses can play a key role in advancing the key Circular Economy goals of recovery, recycling and reuse. This article is accompanied by perspectives on the circular economy concept by Iraj Ispahani and Philip Marcovici.

The Cambridge Judge Business School’s New Responsible Family Business and Wealth Ownership Programme

Family Office Magazine, Spring Edition 2018

The Executive Education unit of Cambridge Judge Business School has launched a new Responsible Family Business and Wealth Ownership Programme, with the inaugural session for families taking place in Cambridge, England in October 2018.

 

Withers White paper – Political risk minimisation: A roadmap for wealth and business owners

Written by: Hussein Haeri, Iraj Ispahani and Philip Marcovici
Publication date: June 2018

Political Risk Minimisation – A roadmap for wealth and business owners

Family Office Magazine, Winter Edition
Publication date: 2018

Political risk is one of the most salient concerns of international investors today. Such risks are far from being confined to nationalisations or direct expropriations of international investments.

Lights, Camera, Action! – Conduct in Asset Management​

Authors: Iraj Ispahani and Mark Abrahamson, Oliver Wyman
Publication date: 2015

Asset managers have had a relatively easy ride. At least as far as scandals are concerned, the industry has not been subjected to the vilification directed at banking, whether for mis-selling or for undermining market integrity. “We have a proud fiduciary legacy” is the prevailing motto, appealing to a golden era (perhaps imaginary) when the industry invested carefully for a modest fee.