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Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times

ISBN: 978-0-470-82571-6
352 pages
November 2010
Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times (0470825715) cover image


Hamilton and Daniell have creatively taught us how to weave together the threads of lineage that create family legacy. They have also clarified the vision of what family leaders look like who are the master weavers of such threads. This all leads toward teaching us how to create and guide our families, and those we serve, to seven and more generations of successful, generative and flourishing lives as individuals and as family. We owe their work a deep debt of gratitude and a bow of appreciation.
James (Jay) E. Hughes, Jr.
Author, Family: The Compact Among Generations

Mark Daniell and Sara Hamilton have written a book that will become a real reference for families wishing to establish a long-term strategy for building an enduring legacy for generations. It contains a wealth of ideas, strategy prescriptions, case histories, and anecdotes that will give the family leader and members of the “tribe” a true guide to building a system that will endure the test of time. I recommend it to families in Asia and beyond.
Dr. Victor K. Fung
Chairman, Li & Fung Group

This is a superb book––unique and full of examples––on the vision of legacy and the role of family leadership. It is also a comprehensive guide to risk management with a special spirit for wise risk-taking. Daniell and Hamilton draw on the unique experience of the Family Office Exchange and its many hundreds of members and scores of studies to define the role of family leadership more fully and inspiringly than ever. This book makes the challenges vivid and the path clear for successful families to preserve both their wealth and their purpose.
John L. Ward
Principal, The Family Business Consulting Group

Family Legacy and Leadership is an innovative, useful blend of theory and practice; and of the hard and soft issues that families face. It offers ideas, insights, and tools that will help families of all types find their path through change.
Melissa A. Berman
President & CEO, Rockefeller Philanthropy Advisors

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Table of Contents




Part I: Family Legacy and Legacy Planning.

1. Building an Enduring Legacy.

2. Defi ning a Clear Philosophy of Family Wealth.

3. The Family Promise, the Constitution, and Responsible Ownership.

4. Preparing Children for the Responsibilities of Wealth.

5. Philanthropy as a Cornerstone of Legacy.

6. A Practical Framework for Legacy Planning.

Part II: Family Leadership and Succession.

7. Leadership Challenges in the Family Enterprise.

8. Proven Approaches to Family Leadership.

9. Leadership Skills for the Twenty-First Century.

10. Passing the Torch.

11. Crossing Generational Bridges.

Part III: The Management of Risk and Change.

12. Managing Risks to Wealth and Wellbeing.

13. Designing a Family “Eco-system” Worthy of Trust.

14. Mastering New Challenges to Financial Wealth.

15. Structuring the Family Office as Manager of Risk and Change.

16. Creating an Entrepreneurial Culture in the Family.

Epilogue: Future Leadership Challenges.


A Profile of Family Office Exchange.

B Operating Frameworks for Legacy, Leadership,and Risk Management.

C Strategies for Creating an Entrepreneurial Culture.

D Recommended Reading List.



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Author Information

Mark Haynes Daniell is Chairman of The Cuscaden Group, his own family office in Singapore, which serves as an investment and advisory business helping the leaders of wealthy families to define and implement their own legacy plans and long-term investment strategies.
Daniell is a former Director of Bain & Company and Wasserstein Perella. He holds degrees from the Harvard Law School, Oxford University, Amherst College, the Institut d'Etudes Politiques de Paris, the Sorbonne-Université de Paris IV and the Phillips Exeter Academy.
He is a frequent expert guest commentator on CNBC, the BBC, CNN and Channel News Asia and the author of seven books, including Strategy for the Wealthy Family: Seven Principles to Assure Riches to Riches Across Generations.

Sara S. Hamilton is the founder and CEO of Family Office Exchange (FOX), the definitive source of information and best practices associated with the business of managing family wealth across generations.
She serves on the Executive Education faculty of the University of Chicago Booth School of Business for the course on Private Wealth Management offered twice a year in Chicago.
In 2009 and 2010, Hamilton was named as one of the "Top 50 Women in Wealth Management" by Wealth Manager. She serves on the editorial boards of the Journal of Wealth Management and Trusts and Estates as well as a Founding Board of the Chicago Global Donors Network.
Prior to founding FOX, Hamilton worked in marketing and strategy at Harris Bank and AT&T Information Systems. Hamilton holds a Bachelor of Arts degree from Vanderbilt University and an MBA from the University of North Florida.

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Press Release

October 18, 2010
Experts help family leaders transform financial fortunes into enduring legacies

How can families build enduring legacies and preserve their wealth during challenging times?  Amidst the rising complexities in the financial world brought about by external volatility and internal family evolution, how can families ensure that the legacies they build will be positive and enduring? With the many social challenges within families that have arisen in recent years, what lessons can be learned and what approaches and models can family leaders adopt to preserve and enhance their legacies?


These are some of the topics explored by Mark Haynes Daniell (Chairman of Singapore-based Cuscaden Group) and Sara S. Hamilton (Founder and CEO of Family Office Exchange) in their new book – “Family Legacy and Leadership: Preserving True Family Wealth in Challenging Times” (ISBN: 978-0-470-82571-6). Published by John Wiley & Sons, this book offers many real examples, a wealth of personal insights into the meaning of legacy, the definition of true family wealth and a model for successful leadership of families of wealth.


“The recent crisis has highlighted the need for families to address the related issues of family legacy, family leadership and family risk management on a fully-integrated and fully-informed basis,” said Ms. Hamilton. “Many families are looking for a better approach to define and protect their legacies and clarify their philosophies of wealth.  They want to improve their models and principles of family leadership and take a more engaged role with regard to the management of family wealth, risk and change.”


Mr. Daniell adds, “While responding as needed to changes in the environment and within the family, family leaders often want to ensure continuity as well as manage change: pursuing the same long-term goals of wealth preservation through periods of both turbulence and calm.  They are also seeking the sustainability of the family enterprise and a lasting approach to family unity that ensures they are contributing to the creation of an enduring family legacy.”


The book draws from a deep understanding of how the world’s wealthiest families have tried, with both success and failure, to preserve their legacies across time and through inevitable periods of turbulence and change. It also:


  • draws on over half a century of combined experience by the authors in addressing the issues of legacy and leadership
  • captures the history and lessons learned – both positive and negative – of some of the world’s wealthiest families and their leaders.
  • presents a masterly blend of theory and practice with frameworks, approaches, and examples on key issues for practical application.
  • addresses not only the technical but also human issues that families and their leaders face in wealth sustainability and legacy building.
  • breaks new ground in defining and elaborating on the Family Promise and the Family Eco-system
  • contains contributions from some of the world’s leading thinkers on legacy and leadership: Jay Hughes, Ivan Lansberg, Marty Linsky, Fredda Hertz Brown and others.


“An appreciation of family legacy begins with an understanding that legacy is about far more than the past, and that true family wealth is about far more than money,” said Mr. Daniell. “Family wealth is a kind of energy which, correctly applied, can do great good. It is a gift that benefits members of the family, but also extends to those who benefit from the family’s philanthropy, business and investment activities, community engagement, and demonstrated personal integrity.”


Concludes Ms. Hamilton, “Proper management of family wealth, in all of its forms, requires effective leadership, a commitment by all members to the family and its collective future, and a thoughtful approach to managing the risk and change that challenge all family enterprises.”

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