Tavan Pechet is the founder of Pechet Advisors, where he provides management consulting to wealthy families. Relationship risk management is a way to manage the critically essential assets of relationships. Tavan reveals all of the reasons you need to manage relationship risk and the critical elements for successful family mediation. Tune in to this episode of Beyond the Balance Sheet, as we chat about managing conflict and communication with families who disagree and the importance of due diligence, even with your family members.
IN THIS EPISODE:[02:30] How risk management applies to relationships.
[04:30] Families need to think about what it means to manage relationship risk.
[08:55] The key elements for a successful family mediation.
[13:40] Managing conflict and communication with families who are disagreeing over an inheritance.
[19:20] Family due diligence: what to know before investing in a family-owned business.
Be proactive and manage family relationships before a crisis occurs.
Find a third party mediator to help you and your family find common ground.
Families don’t always need to stay together. Sometimes family relationships and assets will be better off when there’s a split.
You still need to do due diligence when going into business with your family.
Tavan Pechet is the founder of Pechet Advisors where he provides management consulting to wealthy families. He helps them design, build, and manage their operations to navigate complex family wealth matters. He has advised clients from entrepreneurs to inheritors to widows, controlling assets from $20 million to $5 billion.
Previously, Tavan spent a decade as CEO of a multi-generational family office. He also served as an executive of that family’s operating business and as Trustee of their family trusts.
He has also worked as an executive for a venture-backed tech company, practiced law, and clerked for a federal judge. Tavan earned his AB from Harvard College, his JD from Harvard Law School, and his MBA from UCLA Anderson.
Grateful for his good fortune, Tavan donates time and money to gender equity, veterans’ affairs, democracy reform, and the environment.
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