Regaining Family Control & Preparing the Next Generation
James was the second-generation head of his family, overseeing the legacy left by his father, who had built and later sold one of the UK’s largest furniture manufacturing businesses. Since the sale, the family’s wealth had been managed through an offshore family office and a UK-based property investment and development business—both led by non-family executives.
The Challenge
James’ son, Edward, was keen to establish himself within the family’s property business. However, he faced resistance from the leadership team, often hearing remarks like, “That’s not how we do things here.” The same response came from the family office, leaving Edward feeling marginalised and uncertain about his role in the family’s future.
Concerned, James considered hiring an experienced property professional to work alongside Edward, hoping this would help him gain credibility and navigate internal resistance. A conversation with a TWYD client led James to seek TWYD’s advice.
Uncovering the Root Issues
During the initial discussions, TWYD quickly identified that bringing in an external professional might actually make matters worse, further alienating the leadership team rather than supporting Edward’s integration. A deeper issue emerged—the family felt they were starting to lose control of their own businesses. The leadership teams had become increasingly autonomous, seemingly prioritising their own ways of working over the family’s long-term interests.
The Solution
TWYD recommended a structured review of both the family office and the property business. This assessment would examine organisational design, leadership structures, and operational oversight, giving the family a clearer picture of how their businesses were functioning in practice.
To lead this, TWYD introduced an ex-Big 4 family office specialist—now an independent advisor with board experience in family-owned property businesses. A roadmap was developed, which included:
- A structured succession plan for Edward, ensuring he received the necessary education, experience, and mentorship to develop into a future leader.
- A governance review, as existing frameworks were outdated and rarely put into practice. The advisor was tasked with reshaping governance structures to ensure they served the family’s current and future needs.
The Outcome
By taking a strategic and measured approach, James and his family regained clarity over their business interests. More importantly, a clear pathway was established for Edward’s future involvement—without unnecessary conflict. With updated governance and leadership structures in place, the family was once again in control of its own legacy.