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[INFOGRAPHIC] How Prepared Are Business Families?

Insights Blog Post | November 2012

On November 14, 2012, we held an exclusive event for business families entitled “Fireproofing Your Family Business.

The night was highlighted by David C. Bentall (http://www NULL.nxtstp NULL.htm), a member of one of Vancouver’s most accomplished business families, who spoke on how to successfully transition family businesses from one generation to the next.

It was an insightful and informative evening that included a brief, anonymous survey filled out by business families in attendance.

You can find the results below, but first some interesting facts:

  • Less than half have a shared family vision for the future of the business
  • 67% see succession and retirement planning as one of their most pressing concerns
  • 75% believe transition to the next generation will happen within the next 5 years
  • Yet only 24% have a succession plan that all family members have agreed to
  • 50% say the elder generation knows how much to set aside for retirement
  • Yet only 41% have actually started saving that money outside the family business

Nicola Wealth Management’s Business Families Survey (http://infogr | Create infographics (http://infogr


Share: (http://infogr

Comments (2)

  • Harold Goodwyn said on November 27, 2012 @ 11:18 am

    Demonstrating the commitment to provide follow-up summary info back to respondents of a survey is commendable! No easy task after the momentum and sizzle of the actual event has long-since faded away. Congrats to whoever in the NWM organization pushed this along. By respecting the time and curiosity of your constituents & prospects by this gesture, NWM will benefit by generated another positive touch-point on the road to building/maintaining its great reputation.

  • Karen Ikeda said on November 29, 2012 @ 2:26 pm

    Thank you for your kind words, Harold. We work hard to put a premium on our clients’ time, and our communications team understands the importance of that as well.

    It was good to see you at the event. Hope you found benefit from the event and glad that you appreciate our ability to share these results in a timely manner.

    All the best,

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