Recently, Elaine King, an expert in Family offices and multigenerational family businesses teamed up with KPMG, a well-known international consulting firm that offers audit, tax, and advisory services. Together, King and KPMG Peru offered a series of webcasts to help family businesses.
In particular, the sessions, which featured King as well as other distinguished guests & partners highlighted best practices for next gen start-ups, common mistakes in the family office, and financial resilience in stakeholders.
This collaboration was very much in line with Elaine King’s work with family legacy consulting and leading family offices. As a featured guest with over 20 years of experience working directly with the leading family offices of the world, King shared important information with the viewers. In particular, her knowledge of legacy consulting was featured. King focused on empowering businesses to use a mission to develop their purpose while still meeting financial goals. Furthermore, she shared how families can align their mission to their family and business, allowing them to grow in a sustainable way for the coming generations. In addition, King made various recommendations for how to choose the right family office which could be a single, multi, or even virtual.
The expert in family businesses also highlighted some common mistakes that take place in family offices. For example, having no succession plan. Another common mistake is to hire based on relationships instead of qualifications. Learn about more of the common mistakes in this video.
As an expert in family enterprise, King has her own column in the prestigious Peruvian Business Paper; Gestión. In the most recent article, King wrote about what you can do if you have cash on hand right now and what you should do with your liquidity in these troubled times. Previously, the financial planner and expert in family businesses wrote about how to keep your head above water during the crisis of Covid-19, and how to build an emergency fund for the family and the business.