Imagine an advisor at a multi-family office who has worked with the head of a family business for years. They have a good rapport. The business is worth millions.

But the primary relationship is between the advisor and the founder. Over time, communication gaps develop between the advisor and the rest of the founder's family. 

Soon, the adult children begin to think of the advisor as belonging to their parents, not them. And—whoosh!—there goes a large chunk of fees out the window for the advisor left behind as the children go their own way.

How can advisors ensure this doesn't happen? 

This article is one of our most popular of the week so far.    

Where you'll find us

• Check out our homepage for the latest from Canadian Family Offices. 
• If you use LinkedIn, our page is here.
• Feel free to send us feedback at info@CanadianFamilyOffices.com 

Thanks for reading! 

Gold continued to shine, the Canadian preferred share market reopened and other highlights from the Canso Corporate Bond Newsletter for October

Times are good if you are a borrower, with dropping yields, favourable terms and abundant capital. But as the team at Canso Investment Counsel Ltd. wrote in their latest Corporate Bond Newsletter, many investors have been chasing yield in private credit without fully appreciating downside risk. To the Canso team, understanding covenants, collateral quality and off-balance-sheet exposures is critical in this environment.

Read more about the effects of abundant optimism as central bankers cut rates, equity markets touch new highs, and the Toronto Blue Jays play in the World Series. As the Canso team points out in their Corporate Bond Newsletter for October, they believe this is a time for vigilance.

This story is brought to you by Canso Investment Counsel Ltd.

Please join us on Oct. 30 for a discussion about how families can work together, incorporate heirs into leadership and best prepare everyone for succession. The event is part of our October special report on the next generation and succession. 

We’ll look at the most effective ways to ensure family longevity, to align philanthropic values with family goals and to maintain integrity along the way. Click below to register. 

HNW women need to recognize that their husbands’ next wives could get access to their estates. Beware successors bearing casseroles

When wealth management firms own their own fund companies, complexities—and conflicts of interest—can arise, Christopher Foster writes