More than four decades ago, the field of family wealth advising began to emerge as a challenge to the tradition of caring only about the money. We now stand at the threshold to the next major transformation, strengthening the focus on family while shedding the fears and flaws that invaded beliefs about the rich. Written by three renowned experts, Wealth 3.0: The Future of Family Wealth Advising outlines how the field arrived at this point and what will be needed to establish a positive vision of family wealth. Through relatable stories and insightful recommendations, Wealth 3.0 is a modern manifesto. It challenges family wealth advising to become the enduring, scalable, rigorous profession it was always destined to be.

Family enterprises form the majority of businesses large and small in every country in the world. At the same time, few are able to sustain themselves with the same level of wealth and success even into their second generation and sustaining shared family wealth after the third generation is nearly improbable.

Overcoming these challenges is the subject of my new book, Borrowed From Your Grandchildren: The Evolution of 100-Year Family Enterprises (Wiley, 2020). As each generation of a family enterprise becomes larger and more complex, the book describes how the family must evolve through internal and external challenges to remain cohesive.

Borrowed From Your Grandchildren presents the findings of a multiyear project in which researchers interviewed more than 100 families around the globe to understand the evolution of family enterprises that have succeeded for 100 years or more. I share stories of long-lasting families that point to elements of families’ experiences and learnings that allowed them to survive for the long term.

In a time when there is much concern about the concentration of wealth in the hands of “the 1 percent,” this study adds to the dialogue. It shows how, in many successful family enterprises, business values and culture aren’t focused solely on generation of wealth, but on using resources responsibly.

I have prepared a short guide to the key elements of the book, that includes action items for a family wanting to look ahead toward a century of success: 8 Insights from Long-Lasting Global Enterprising Families.

Many readers of Borrowed From Your Grandchildren have asked for a short version that contains the key insights and action steps that a family can take. Here is a copy of this toolkit that you can use and share with families who want to continue their journey to become a generative, value-creating long-lasting family enterprise.

Announcing a new book based on a study of matriarchs—stories of women leaders of family enterprise from the first and later generations, who did not expect to become leaders.

Each family that runs its own business also has its own culture, say two psychologists who work with wealthy families. And understanding those cultures — which these psychologists break down into three groups — can make it easier to resolve intergenerational or cross-cultural conflicts that arise as the business matures and expands.

The psychologists, James Grubman and Dennis T. Jaffe, last year published a book that offers a framework for understanding the three cultural approaches that they say prevail in family businesses. The “individualists,” who tend to be clustered in North America and Western Europe, foster creativity at the employee level. The “collective harmony” view, which prevails in parts of Asia, views family and business as an integrated whole.