Rethinking Wealth & Legacy: A New Approach for Family Businesses

A few years ago, I sat across from the leader of a highly successful Latin American family business. He had built significant wealth both at home and abroad, yet as we spoke about the future, I could sense his unease.

Despite his success, his overall planning lacked coordination. We managed only a portion of his portfolio, while private banks pushed proprietary products, lawyers and accountants worked in silos, and the next generation was unprepared to lead. There was no cohesive strategy to protect his wealth, support business continuity, or prepare his family for the future.

This is not an isolated case.

For nearly twenty years, I have worked closely with wealthy family business owners and family offices, helping them navigate the complexities of wealth, succession, and governance. Many face the same recurring challenges—advisors who operate independently without coordination, private banks promoting products that serve their own interests, and the difficulties of managing assets across multiple countries with different tax and regulatory frameworks. As families grow, so do these complexities. Too often, the next generation is left without the structure or knowledge to step into leadership with confidence.

But it doesn’t have to be this way.

Families that take a proactive approach—one that integrates financial, legal, and governance strategies—can bring clarity and structure to their decision-making. With a well-defined roadmap, they can gain greater control over their legacy, strengthening both their business and family dynamics for future generations.

This is why I founded Lamonica Advisory Group—to provide an independent, strategic approach that prioritizes the needs of families over institutional agendas.

A New Model for Family Business and Wealth Advisory

Instead of fragmented advice and one-size-fits-all solutions, I envisioned a model where:

• Financial, legal, and governance strategies work in coordination—eliminating silos.

• Families receive independent, conflict-free advice that is aligned with their long-term interests.

• Wealth planning supports business continuity and succession goals in a holistic way.

• Cultural understanding and personalized guidance are central—families need an advisor who speaks their language and understands their values.

  
  

The needs of family businesses and family offices are evolving. The traditional wealth management model is no longer enough. Families today expect transparency, strategic guidance, and a long-term partnership with an advisor who understands their vision and helps them execute it.

What’s Next? 

This is just the beginning. Through Lamonica Advisory Group, I am committed to helping business owners and family leaders navigate an environment of increasing uncertainty and rapid change. The goal is to implement strategies that foster long-term success and sustainability.

In the coming weeks, I will be sharing insights, strategies, and real-world examples to help families confidently address governance, succession, and cross-border planning.

If you are looking for a strategic, independent approach to wealth and business continuity, let’s start the conversation.

By Lawrence Lamonica