Tailwind Financial Services, a cutting-edge wealth management platform that provides comprehensive investment solutions, hosted a stunning event in Mumbai. Over 200 family business entrepreneurs and their children attended Mumbai’s “Empower Your Next Gen” event.
Dr. Piramal Merchant’s keynote talk, Director of Global Family Managed Business at SP Jain School of Global Management, was the event’s highlight. Dr. Merchant’s recommendations for family companies to leave a legacy enthralled the audience. His talk, “Generation Dynamics in Family Managed Businesses,” highlighted family businesses’ vital role in preserving tradition. Dr. Merchant also revealed eleven mistakes that family-run firms may make. These mistakes ranged from misinterpreting information and disregarding distinctions to expecting specific results based on context and complexity. Dr. Merchant stressed the need of teaching the younger generation about these mistakes and overcoming them to improve business results.
Mr. Vivek Goel and Mr. Rishabh Goel, Co-founders and Joint Managing Directors of Tailwind Financial Services, also attended. They emphasise the specific issues family businesses confront when managing wealth and investments beyond their primary industry. Working with large families requires awareness to family dynamics, complex ownership structures, and succession planning, according to the Goel brothers. They proudly displayed Tailwind’s tailored wealth management and succession planning methods, emphasising the significance of financial preparation, long-term vision, and social responsibility. They believe these characteristics are essential to creating a legacy that will last for centuries.
Family business leaders learned and discussed important topics like wealth management, legacy planning, and family-run enterprises at the “Empower Your Next Gen” event. The event gave attendees new ideas and techniques to run their family businesses. These entrepreneurs are ready to lead their businesses and families to success with renewed vigour and the correct tools.
