For more information contact: emailus@marcusevans.com An interview with: Barbara Hauser, Independent Advisor at Barbara R. Hauser LLC and a speaker at the marcus evans Elite Summit 2012 shares best practices on making family wealth last through effective governance. Join the November 2014 Summit along with leading European family offices and global asset managers in an intimate environment for a focused discussion of key new drivers shaping wealth management strategies today. For more information contact: emailus@marcusevans.com

1. Making
Family Wealth
Last
internal family conflict, which can end together. In most cases they decide to
up ruining the family wealth. form a family council as a governing
body, and write a special family
What are the key ideas in your book constitution with the rules for making
on family governance? decisions.
Someone told me that his favourite part What do wealth managers
of the book was the emphasis on overlook?
creating and spreading peace and
harmony, so I will take that as a great The very first step, which is often done
take-away piece. If a family can learn to in a disorganised way, should be to do a
communicate openly and have a very careful audit of ownership,
transparent information process, that confirming with legal documents exactly
Interview with: Barbara Hauser, will help build trust and harmony within what assets are owned, in whose name
Independent Advisor, Barbara R. the family. and where they are located. If that is
Hauser LLC. not done correctly, the rest of the
planning will be pointless.
Wealthy families can rarely make their
wealth last until the third generation,
A strong family What role do transparency
accountability play?
and
according to Barbara Hauser,
Independent Advisor, Barbara R. Hauser governance Those are key words for the governance
system that
LLC. The main cause of that failure is of the family, family business or
internal family conflict, she adds, office. There is an emphasis on
therefore a strong family governance accountability and transparency today,
system that includes councils and
constitutions is essential in the family
includes councils but I would also add participation.
Without valid participation, governance
office setting.
and constitutions work is unlikely to last because there
will not be the right buy-in from family
A speaker at the marcus evans Elite
Summit 2012, in Montreux, is essential members.
Switzerland, 30 May - 1 June, Hauser Which types of assets will perform
shares best practices for private well in the coming few years?
wealth management from her
experiences with wealthy families What is proactive family Families are hesitant to invest in super
around the world. governance and how can it sophisticated products or work with the
eliminate risk? big bankers; that has been a difficult
What are the biggest risks to a lesson.
family’s portfolio? Proactive family governance is to have
someone work with the entire family There is now increasing interest in direct
There are two big risks. One, is if the during a quiet time, to prepare for the private equity investments, where
legal ownership of the various possibly stormy transition times. It they can meet the actual owners of the
structures is incorrect, and second, is if involves creating a governance system companies and engage in direct family-
there is no mechanism to prevent for the family to make decisions to-family investments.

2. About the Elite Summit 2012
The Investment Network –
marcus evans Summits group
This unique forum will take place at the Fairmont Le Montreux Palace, Montreux,
delivers peer-to-peer information
Switzerland, 30 May - 1 June 2012. Offering much more than any conference,
on strategic matters, professional
seminar or trade show, this exclusive meeting will bring together esteemed thought
trends and breakthrough
leaders in private wealth management and market leading asset and fund managers
innovations.
for a highly focused and interactive networking event. The Summit includes
presentations on every aspect of the family office space, from the latest asset
allocation trends to building comprehensive technology platforms and managing
family dynamics.
www.elitesummit.com
Please note that the Summit is a
closed business event and the
Contact
number of participants strictly Sarin Kouyoumdjian-Gurunlian, Press Manager, marcus evans, Summits
limited. Division
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To view the web version of this interview, please click here: www.elitesummit.com/BarbaraHauser