Private Client Services
Our professionals focuses on serving business owners, protecting the interests of the business founder or patriarch, and transforming a ‘Family Business’ into a ‘Business Family’ to grow their businesses and preserve their wealth through generations.
Two business owners shared some valuable learnings with us below.
First, the CEO of Sheng Siong Group Ltd, shared his views on family succession in business.
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“Orderly family succession requires the integrated and concerted efforts of the inter-generation team to work together harmoniously and seamlessly. Coupled with diligence and perseverance, a successful outcome is possible.”
“In Sheng Siong, we have three brothers, and many family members, making our past structure complicated and difficult to manage. Our large family needed a trusted advisor to help iron out our differences. A trust advisor can also help resolve internal family differences and conflicts.”
Next, the Founder and Group CEO of Q & M Dental Group (Singapore) Ltd, shared with us the top three skills to be a successful entrepreneur.
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“修身齐家治国平天下 – If you can make yourself well, you can form a good family, you can handle the family well, then you can form a company, then you can run the company well, then you can actually use the company to go conquer the world.”
“先舍后得，有舍有得，多舍多得，没舍没得 – So, in giving back or in giving, then we can receive. If we don’t give, you can’t receive anything. So, in dealing with people, be is patients, dentists, employees or your colleagues, if you don’t give anything, why would people want to give anything back to you? So, don’t expect anything from anyone, unless you start giving.”
“Love Quotient (LQ) – you love people before people love you, so you give your love first to people. All these people around you will come back and support you.”
A family in business faces a multitude of challenges, such as keeping harmony in the family, caring for and developing individual family members, sharing the fruits of success, and at the same time, protecting, sustaining and growing the family businesses.
Our RSM Approach
RSM private client service professionals are fully aware of the day-to-day challenges business owners face in growing the business and managing the expectations of every family member who has a stake in the family wealth. Therefore, we strive to first understand your personal, family and business needs to identify the issues and challenges faced before we develop bespoke solutions for you.
|Understanding your family and business needs||Identify challenges faced||Offer bespoke advice and solutions|
Optimal alignment among the three domains - Family, Ownership and Business - is the hallmark of a healthy, functional family business.
As trusted advisors to our business owners, RSM private client professionals across the RSM international network has deep experiences in servicing high net worth individuals and wealthy families.
Our private client services include the following:
Past events held:
- 12 Nov 2019 – Collaboration with Family Office Club on how the ultra-wealthy invest, manage and protect their wealth
- 15 Nov 2019 – Collaboration with British High Commission on AI and Data Tech Sharing Dialogue
- 28 Nov 2019 – REDAS networking event on sustainability and common million dollar mistakes made by Family Offices
- 3 Jan 2020 – Collaboration with Apex Private Wealth Management to discuss steps family businesses can take to achieve success over generations