Governance is ‘the way things are done around here’. It is the development of policies, procedures, and structures and ultimately, it comes down to communication, decision-making, clear boundaries, roles and responsibilities, and finding a way to document this for the benefit of the clients. Today’s guest is Daniel Trimarchi, he is part of the KPMG Private Enterprise Family Business practice, which specializes in family governance and succession planning. In this episode, Daniel shares his experience in creating governance structures, facilitating safe conversations, and removing the advisors biases when working with clients.
In This Episode:
- [01:38] Meet Daniel Trimarchi as he shares his views on the trends on behavioral, physical and mental health, substance, eating, and other disorders that impact people.
- [06:12] Setting goals as an advisor, supporting the client’s well-being, and not overstepping boundaries.
- [10:48] Do better financial resources equate to better care?
- [18:40] Daniel shares his experience in working with clients that are dealing with mental, physical, and emotional health.
- [22:43] An advice Daniel has been given about mental health issues and about family systems that helped him develop his expertise.
- [29:39] Daniel shares some words of wisdom.
- There is an increasing trend in the level of awareness and the removal of the stigma around the subject and with the high level of diagnosis, there has also been a higher level of support.
- When we’re looking to support clients, having an appreciation for the wellbeing aspect, and the socio-emotional wealth aspect is very important.
- Although being affluent removes barriers to access support services, it is important to find the right people with the right level of expertise and the right service that matches the family’s dynamic, ethos, and values.
- When having conversations with families, it is important to ensure that you are bringing into the conversation those that are going to be affected by the change.
- The level of transparency is a direct correlation to having the ability to move forward together.
Meet Daniel Trimarchi:
Daniel Trimarchi is a Director within the KPMG Private Enterprise Family Business practice, specializing in family governance and succession planning with business families of various sizes and complexities. Daniel works with business families to understand their objectives and definitions of success and through facilitating this process, allows them to co-create an effective plan for the future governance of their business and wider enterprise, including decision making, investment, and communication frameworks.
Daniel has over 12 years of experience working in Canada, the UK, and Australia, providing consulting services, business strategy, and compliance services to the family business and family office market. He is also Director of KPMG Private Enterprise’s Global Family Business Centre of Excellence.