1
A Family Assessment Questionnaire is sent out to all participating family members to be completed before engagement of the next step in our process. This gives us a look at the family’s current reality.
2
The Education Workshop is held with all participating family members to review and interpret the findings of their assessments and how the family currently holds up against other successful business families or families of wealth.
3
Family members who have participated in the Education Workshop can now choose to continue the process with individual and group coaching with a focus on what matters to them, their MoneyMotto(tm), behavioural risk and the impact these have on themselves and the family. This is the foundation of governance in action for their Family Wealth Constitution.
4
Individual & Group meetings are facilitated for the development of the Family Wealth Constitution which is the recipe book for how the family plays the game of family wealth.
5
Continued support to ensure the family is “living” their guiding principles which were developed by the family for the family.

Don’t let your wealth impact your family’s wellbeing and safety to chance.  Most people think money will solve and alleviate issues in a family. In actuality, money emphasis the human and social issues within the family which may have been avoided or ignored.

Does your family struggle with any of the following issues? If so give our office a call for a consultation and assessment.

Lack of Safe Space:

  • Avoidance of the conversations which need to occur
  • Don’t feel safe to voice one opinions and issues
  • Entitlement within the family
  • Divisions within the family
  • A lack of interest in family and business matters
  • Conflict within family members
  • Not feeling heard by the family
  • Difficulty picking the next leader of the family and/or business
  • Emotionally unprepared heirs
  • Struggle with the concept of treating your children fairly versus treating them equally.

Veritage Client Engagement Process Details

1. Assessment

This is an opportunity for Veritage coaches to learn more about you and your family.  The Assessment Phase of our process is done in two parts.

  1. The first step is a discovery conversation is done over the phone, or through a face to face meeting, depending on location and timing for both the client and our Veritage coaches.
  2. Then a questionnaire is sent out to all participating  family members.  It helps Veritage gain more clarity of the current reality of the family.  Our assessment questionnaire is based on the 3 circle model of Family Business and the Lombardo/Valeri 3 circle model of safety.
    Family Wealth = Financial Capital + Human Capital + Social Capital 
  3. The data and self-reflection responses allow us to gain a deeper insight as to where you and your family are today from a human capital perspective and allows us to prepare a recipe of solutions that would serve as a foundation of the work we do for families and individuals.  Results are sent to the family with a small write up on currently reality and the steps for the next phase.

2. Education

The interpretation phase is an interactive family focused meeting comprised of three parts:

1. Educational Session
Conducted in person “workshop” format the family is presented with an interactive session on the importance of human capital development. Based on Veritage’s 3 Circle Model of behavior risk to identify gaps in current family realities and the impact of behavioral risk in family wealth transition.

Veritage will share aspects of our Money MottoTM process that will assist family members to uncover their feelings towards money and how it impacts our relationships and family dynamics.  This will be looked at further in the Coaching Phase.

Learning materials and books are included in this session.

2. Assessment Findings
In addition to the education session, a presentation on the findings from the assessment will be conducted with open dialogue among the family members on the findings. The assessment portion of the interpretation serves two main purposes:

Firstly, to give the family an opportunity to understand what their potential behavioral risks are in their succession planning from a Family, Business, and Ownership perspective

Secondly, it allows for open feedback and dialogue among family members

3. Recipes for Success
Presented to the family, this will include our ingredients (recommendations) on how to move forward together, while prioritizing desired outcomes with the family. As a group, we have an opportunity to discuss in detail next steps of a family engagement, timelines, desired outcomes and breakdown of program structure is communicated to the family.

Family members participating in the Education sessions will obtain a thought provoking insight on building a robust family wealth constitution, ensuring your family remains your wealthiest asset.

3. Coaching

The Coaching phase is the first “ingredient” to the recipe of success that has been recommended to you and your family by your Veritage coach after your Education session.

Your Veritage coach will take you and each of your family members through a values -based “conversation”.  These conversations will help in discovering everyone’s core values, beliefs and behaviours around money and relationships.  Each individual will find out what is not aligned with their core values and what needs to change in order to serve what the individual’s desires are for themselves and the family.  For the older generations, in addition to discovering cores values, beliefs and behaviours around money and relationships, they will get to explore their legacy, what it means to them and their desires for the next and subsequent generations.

Each “conversation” with each individual will take several face to face meeting over a span of several months to complete.

Coaching sessions help build a strong foundation for next phase of the Veritage Authentic Wealth Process.

4. Development

Once the initial values-based coaching sessions are completed, each individual family member will have a greater understanding of their wants, desires and goals for themselves and their family wealth and/or business.  Individuals will also have a greater awareness of their behaviors that don’t serve their purpose.

With this foundation in place, the Family Wealth Constitution can now be developed through further individual coaching and group coaching sessions.    Through these sessions, the family members will begin to see a common vision, mission and purpose for the family, family wealth and/or business come into fruition along with the family members’ roles and responsibilities, boundaries & consequences, parameters for conflict resolution,  timelines for transitions and clearly defined guidelines for stewardship and more.

The Family Wealth Constitution is the documented purpose of the family, family business and/or wealth to give family members in each generation direction.

5. Maintenance

After completion/development of the Family Wealth Constitution, families have an option to continuing working with their Veritage Coach to implement the Family Wealth Constitution they have just created.

This  is about making sure the family members and the family are “living their guiding principles” on a regular basis.  Working with Veritage increases the probability of the family adhering to their Family Wealth Constitution and continue to operate and maintain the safe space they created.

Typically, monitoring involves facilitating family meetings, individual coaching and assisting with conflicts when they arise to ensure a legacy of safe space for the family and generations to come.

We are delighted to share the difference that Franco made for us- Franco is a powerful coach around having us see our relationship to money and how that impacts our decisions we make in our business, and how it impacts our relationships with people, and ultimately our freedom in life. The work that Franco did with me left me with freedom, peace of mind, altered my relationships with my business partners, and it got me clear about who I am and the difference I can make for others. I got my quality of life has nothing to do with the amount of money I make, and at the same time I am free to have an abundance of money with no guilt, or shame, and just enjoy life the way it is and the way it isn’t.

2nd Generation Family Member

Franco created such a warm and safe environment that allowed me to really dig into my past to see how my Money Motto came to be. I saw the impact my Money Motto has on the actions I have taken in the past. What I got is a whole new sense of peace of mind! Today, it’s clear when my Money Motto is running in the background and I now get to choose which actions I now want to take. And I choose to live in and enjoy the present! Thank you Franco!

4th Generation Family Member

I absolutely loved and appreciated the time Franco spent with me! I was keen to explore what my Money Motto is, and what fell out was such an eye opener! I could immediately see what was driving me in the goals I set and even the dreams I say I had! And what is so great is, now I can ask myself authentically, what is it that matters and would really be fulfilling! Thank you so much Franco! What you did is so foundational to my life!

3rd Generation Family Member

Working with Franco thru our succession planning processes has helped our family learn how to communicate and speak openly about each other’s life’s goals in a very non threatening environment. His open approach to understanding each shareholder’s needs and wants became an enjoyable exercise for every family member, and truly has helped us set long term goals with a shared vision.

3rd Generation Family Business Member

I have worked closely with Franco in identifying my Money Motto™ and examining the impact that wealth has had on my attitudes and ideas. It has been incredibly helpful and insightful to examine how I came to my beliefs about money. Clearly understanding my beliefs has helped me to embrace my experiences and move forward life goals and objectives with a sense of empowerment and purpose that did not exist before. This clarity has helped me to overcome any ‘demons’ I had relating to my family’s legacy of wealth and set me free from self sabotaging behavior that came from my experience of growing up with our family’s attitude towards money – attitudes that I did not have to inherit as they were attitudes of other people from different times and different experiences. Essentially, I have been able to celebrate the strengths of our family legacy and find a way to create my own space within that legacy.

4th Generation Family Member President of Family Office

…I can’t help but think about the guy that got me here. I remember our conversations about my future and the role that I needed to determine in moving forward. You showed me what I was worth and more importantly, where my passion was. I needed to follow my dream and become a winemaker. Because of your wisdom and support, we are now producing wines that are regarded as the very best in Canada and wines that compete with the best in the world. I can’t thank you enough for all your support and basically bringing me back from the dead. My business is growing and my life is rewarding because you saw something in me that I needed to believe in myself.

Winemaker ( at last ) & Founder

Franco Lombardo recently led myself and my two business partners through his (Values based) Corporate Governance Diagnostic.While it was not an easy process (it demanded open and frank discussions) it has been extremely fruitful in helping us understand our relationship and creating a strong understanding of our interdependence. Franco’s guidance was instrumental in leading us always to the appropriate conclusions and resolutions.I would strongly urge anyone in a business with similar structure and issues to consider employing Franco to assist them.” Founder, Director “We now have a very clear understanding of our core values. Now, it is a matter of practicing what we preach. It will be truly powerful if we live and breathe these values in our every day actions.On a personal note, I have found enormous benefit in our work with Franco. About 20 years ago, I defined my core purpose but the recent work with Franco has crystallized my thinking, given me more focus and now is truly altering my behaviour to be consistent with my purpose. It has become much more clear what I want out of life.

Founder