Where Family Trees Flourish
Throughout history, illustrious “salons” have brought together artists and philosophers, kindling intellectual and creative transformations that have shaped modern civilization. From the literary circles of pre-revolutionary France to the Paris salons that attracted American writers and artists during the 1920s to the salons of the Harlem Renaissance, people have come together to share experiences, expand knowledge and spark innovation (according to descriptions found on Wikipedia). Salons have created connections and community that changed the world. These stories provide inspiration for Hawthorn as we invite families of wealth to participate in our modern day “salons.”
The dictionary defines salon as a fashionable assemblage of notables (such as literary figures, artists, or statesmen) held by custom at the home of a prominent person.
We have taken the traditional understanding of salons and reimagined it for families of wealth. We view Hawthorn Salons as shared conversations with purpose. Our Salons bring together small ‘cohorts’ of our clients for discussions centered on topics associated with wealth or other shared interests. To guide these discussions, we select knowledgeable facilitators – just like the inspirational hosts of history’s greatest salons.
Many of our clients share the same core aspiration as well as the same basic fear. They hope their family will be happy, healthy and remain close for many years, even generations. At the same time, they worry that their wealth could negatively affect individual family members or their family as a whole.
While many wealth advisors focus solely on financial concerns, Hawthorn Institute for Family Success aims to not only prepare wealth for families, but also prepare families for wealth. Our Salons are designed to help families prepare for wealth by learning from each other while building an invaluable network of peers.
The most fundamental goal of most Hawthorn families is that their wealth be a source of empowerment, not entitlement, for future generations.
However, many families face uncertainty in this area. They often feel that they ‘don’t know what they don’t know.’ That makes them curious about what other families are doing. Hawthorn Salons can lift this veil of uncertainty by giving families the opportunity to share their stories, including unexpected pitfalls, lessons learned, and most importantly, best practices for success.
Decades of experience working with families who have successfully sustained their wealth and values across multiple generations has helped Hawthorn to pinpoint specific family traits that promote lasting wealth and well-being. We have found that successful families:
People increasingly trust others like themselves. That is a key finding of the January 20, 2019, Edelman Trust Barometer, an annual trust and credibility survey conducted by Edelman Intelligence. Hawthorn professionals have witnessed this firsthand as families of wealth who connect with other families are greatly enriched by the experience. Business owners, CEOs and other professionals are well aware of how important peer networks are. We believe a deep connection to an “inner circle” of families like your own is just as beneficial. Hawthorn Salons help our clients build this very valuable form of social capital.
Salons are particularly appropriate for discussing concerns and challenges common to families of wealth. While families typically rely on trained professionals for solutions to financial issues involving taxes, investments, and estate planning, other families of wealth can provide unique insight on more sensitive family matters.
Feedback from other families who have walked in the same shoes is likely to resonate with families now encountering similar challenges. A respected outside perspective provides invaluable emotional support and often helps families identify solutions.
Establishing a knowledge base to support effective decision making is another notable benefit of Hawthorn Salons. Hawthorn’s client promise includes a commitment to ease the complexities of wealth and Hawthorn Salons help us fulfill that promise. The experience and knowledge of the professionals who facilitate each salon, combined with the collective wisdom of Salon participants, can greatly enhance personal knowledge, leading to more confident decision making.
For anyone who may want to participate in one of Hawthorn’s upcoming Salons, the benefits are clear: an opportunity to build a strong network of peers, to learn from other families, to exchange experiences and insight, and to tap the knowledge of experienced facilitators. Salons are intimate, provocative and focused. With very little time commitment, participants have the potential to reap rewards that will help sustain your wealth and enhance your family’s long-term well-being.
In 2020, Hawthorn will host Salons focusing on topics such as financial parenting (for parents with children between the ages of 3 and 20) and preparing the Rising Generation (for family members in their 20s and 30s). To be part of these unique experiences, please reach out to your Hawthorn team for more information about our 2020 Salon program.