Financial Advisor Guides:
Families Between Needs for Liquidity and Capital
Family Business Forum News
by Jim Klaes
Francois M. De Visscher knows all about family businesses.His one family controls a multi-billion-dollar steel wire manufacturing company that has been based in Belgium for more than one hundred years.In addition, he is president of de Visscher & Company, an independent financial advisor for family-owned businesses based in Greenwich, Connecticut.
At UTEP in February, de Visscher gave some guidelines to members of the Family Business Forum about the ways to solve the capital and liquidity needs of their family businesses.
“We all, and this includes my family business too, tend to plan our individual financial needs for the future,” he said, “but we don’t plan our business’ financial needs nearly as well.Being a company’s owner as well as its manager gives you a different perspective than just a professional business manager would have.” More…
Balance, Grace and Crashing
Just shy of my fifth birthday I was pedaling along, struggling to relax into that certain combination of caution and grace, hoping for balance on my two wheeler. It was an early foray into the world of self-propulsion, but at least my father was running along, holding the back of the seat.To reassure myself, I asked my father if he was still supporting me. I called out to him approximately every eight seconds. He continued to announce his presence, but something seemed odd. His voice was fading, more and more of a shout, but as if from far behind. I turned, to find him some 50 yards back. For another few feet, I was more free than ever in my life. Until I crashed into a ’58 Caddy (parked) I was exhilarated by the thrill of my first solo flight.
Flash forward to a conversation with a close friend, after I’d spent fifteen adult years in my family’s fourth generation retail store alongside my parents. “I don’t know if I could ever run the business without my parents at the helm. I know that I have a lot of the necessary knowledge and skills, but do I have what it takes to really take charge?” More…