About 100 family entrepreneurs gather to address Family Offices as a useful tool to preserve family heritage and cohesive family
On Thursday, September 26, the Family Business Chair of the University of Valencia (CEF-UV), promoted by the Valencian Association of Entrepreneurs (AVE), the Business School (EDEM), the Valencian Institute for the Study of the Family Business (IVEFA) and the Family Business Institute (IEF), and currently sponsored by BANKIA and BROSETA ABOGADOS has held a new breakfast under the title: "What do Family Offices bring to business families?" and attended by about 100 businessmen and managers of business families.
During the event, entrepreneurs Santiago Royo (CEO of Invext Corporation), Elena Lis (Managing Director of the Pizarro Doce group) and Raúl Aznar (Managing Partner of Aznar Patrimonio), passed on to the attendees their experience of creating, launching and development of a family office dedicated to managing and preserving the heritage of their business families. In the third case, that bet evolved into an independent financial advisory firm that acts as a multifamily office for a group of business families.
The three speakers emphasized the value that these tools bring to generate value for the business family, either through the managements aimed at growing the capital, or through the attention to the professional, personal or philanthropic aspirations of the members of the family.
In the words of Santiago Royo, these instruments facilitate the management of the risks assumed by the family, and the search for balances between profitability, risk / security, and liquidity. Also, Raúl Aznar emphasized that a good reflection on family priorities and a good planning of investment objectives are a key element to achieve greater involvement and cohesion of the members of the entrepreneurial families: It is good to think if you prefer "Eat very well every day, or sleep well every night." Both Raúl Aznar and Elena Lis have emphasized that these offices are very useful for exercising a control over the management of the family business, representing the shareholders in the different businesses in which they have interests, in a professional way and maintaining the emotions in their proper measure .
With regard to the resources and structures needed to develop these instruments effectively and successfully, the three speakers emphasized the importance of having the right profiles, both in terms of their professional competencies in investment planning, management and negotiation, as in the trust that they must pass on to the rest of the family. They also explained the importance of project diversification for a better balance.
The session was moderated by the Director of the Chair, Alejandro Escribá. The latter has emphasized the importance of disseminating good management practices among entrepreneurial families to improve the solidity of their business projects, an aspect which in the medium and long term results in an entrepreneurial spirit society and with good capacity to develop ambitious and entrepreneurial business projects. well governed. In this sense, a society with a stronger business structure will result in more employment, greater added value and better socio-economic conditions.
The Family Business Chair of the University of Valencia (CEF-UV) was created in 2006, promoted by the Valencian Association of Businessmen (AVE), the Business School (EDEM), the Valencian Institute for the Study of the Company Family (IVEFA) and the Family Business Institute (IEF), and is currently sponsored by BANKIA and BROSETA ABOGADOS. Its activities are focused on teaching, dissemination and research on idiosyncrasies and the challenges for improving the competitiveness of family businesses.
More information: www.cefuv.org.
