Family ValuesJune 24 2020

More Than Wealth: Family Values Campaign

4 mins read

Family Values Campaign Announcement

Family values is a term that is very familiar to us at Sandaire. As a multi-family office, not only are the family values of our Founding family at the heart of our culture and purpose for existing at Sandaire, but we also work with multiple generations of the families that we support on becoming purposeful stewards of wealth and passing down family values to the next generation.

In addition to the above, Family Values is also the title of our in-house yearly client publication. Within the first Family Values publication last year we told stories of multi-generational family businesses and, this year, we share thought-provoking articles from some of our Family Office Services partners on the topic of ‘Alternative Thinking’, from a ‘Journey of Sustainability’ to an alternative asset article on whisky titled ‘Liquid Gold’, ‘Equality Opportunities in Contemporary Art’ and much more, we hope that there is something that will intrigue everyone.

Throughout July and into August we will run a campaign on all things Family Values related as we launch these articles individually along with podcasts and other multi-media, as we know, we understand and we care that life is about more than wealth. Below we share the first of our articles, focusing on what Family Values means within Sandaire.

National Writing Day – What do Family Values mean within Sandaire?

Recently, to mark National Writing Day on the 24th June, we asked members of Sandaire staff to write on what the term ‘Family Values’ means to them and gained varying perspectives, from the role family values play in a family enterprise from our Chief Executive, our Founder’s views and a personal perspective from our Head of Marketing and Partnerships.

Family Values – The building blocks of a sustainable family enterprise

Each and every family of wealth has their own distinct story and, at Sandaire, it is our job and pleasure to learn and understand the individual sets of circumstances and family values that make each family business, and the entrepreneurs that started those businesses, unique.

Values are often considered the building blocks of a sustainable family enterprise and, indeed, a family’s identity. There are a number of complexities and differences to consider; competing interests, multiple generations, distance, culture, and ambition. Family values, if unaligned, are destined to fail when subjected to pressure. Alignment is the binding force that enables a family’s values to endure. Allowing members of the family to make the values their own and contribute in their own way is essential. It will both allow members of every generation to feel heard and understood, and also encourage a more informed charter of values.

Where multiple generations are involved, it’s important to recognise that values mean different things to different people, particularly millennials. Next generation investors may have differing values to their parents or grandparents. To one person, charity may mean donating a sum of money to a local cause, whereas to another, charity is the giving of one’s time and effort. While both may be equally valid, try to encourage such things in a way that plays to each individual.

James Fleming, Chief Investment Officer

Family Values – Our Founder’s views

I believe family values and the importance of advisers, both of which are mentioned within this article, are interlinked. It is implicit that those who have been empowered to execute on your behalf are not going to do something contrary to your values.

One thing we do not do is write our family values down in black and white because we believe that it is more powerful if you live them. Actions are tangible and we look for the same traits in the people we place in positions of trust.

Alex Scott, Founder

Family Values – A personal perspective

Along with Alex, I believe family values are what you live and breathe; they are how you want to live your family life and are passed down through the generations. As well as this, family values define behaviours and shape who we are as individuals.

I am fortunate enough to come from a small and close-knit family, however my family live 11,692 miles away from me in New Zealand. Despite not being able to see my family often, we are still there for each other, teaching and guiding each other in our beliefs, values and what is right and wrong. We stand by these values throughout our every-day life and pass them on to the younger generation.

I believe values are ingrained into us, for me this means being honest, believing in yourself, giving something a go, being loyal, working hard, treating everybody the way that you would wish to be treated and, simply, being there for one another.

When we went into lockdown in the UK, I was devastated that I was not able to see my family, not that I jump on plane every time I feel homesick, but for the first time in 20 years of me being apart from my family I was restricted and it was no longer my choice. My mum set a rule from the beginning of lockdown, that all of my family would communicate with each other every single day and be there for one another, which then turned into the daily ritual of my niece performing a new “Tik Tok” act each night, something to make us smile but at the same time stay connected. Even though the world was, and is, still going through a difficult time and we are apart, we are closer now than ever and we continue to be united.

Values tend to be categorised into social, political and work values, however for me family values define situational behaviours, such as that we experienced in lockdown, and help us make unified choices and solidify the bond of a family.

Nicola Roigard, Head of Marketing and Partnerships