How should communication protocols be designed among family members, trustees, and advisors?
Set communication rules before a major decision or transition. Define who receives updates, who may decide, which topics remain confidential, and how disagreements are handled. Use a written family charter, regular meetings, clear records, and one coordinator for follow-up. Review the protocol as family roles, trustees, and advisors change.
Put the rules in writing
Start with a short communication policy inside the family charter or constitution. State the family’s purpose, define membership, identify governing bodies, and set the meeting schedule. Bessemer Trust describes communication and decision procedures, including meeting cadence and voting methods, as core parts of a family charter. [1]
List each person’s role. Family members may provide direction or participate in a family council. Trustees administer a trust under the trust documents and applicable duties. Advisors provide professional input within their engagement. A written role map should show who receives information, who prepares recommendations, who approves a decision, and who records it. A family office guide also identifies the respective roles of family members, trustees, the family office, and advisors as a core governance topic. [2]
Use a predictable rhythm and clear channels
Set a regular schedule for family meetings and trustee or advisor updates. Send an agenda before each meeting, identify the decisions needed, and circulate minutes afterward. Keep routine administration in a secure, shared record system. Reserve private sessions for sensitive personal, legal, or trust matters, and state who may attend.
Name one coordinator, such as the family office chief operating officer or a designated secretary. That person tracks requests, deadlines, open decisions, and follow-up. Advisors should provide reports in a common format, explain assumptions in plain language, and identify matters requiring trustee or family approval. Agree where official records are stored and who may access them.
As other family members get involved, and a second generation or later gets involved, governance becomes a critical asset by which hiring, firing, expansion, investment, and operational decisions are made.
Plan for disagreement and change
The protocol should explain how a family member raises a concern, how quickly it receives a response, and when an independent facilitator or lead advisor joins the discussion. Separate facts, recommendations, and decisions in the written record. Avoid making promises in informal messages that have not been approved through the agreed process.
Review the protocol annually and after a death, succession, trustee change, marriage, divorce, major liquidity event, or new advisor appointment. Keep communication aligned with the trust documents, family governance arrangements, and each advisor’s engagement.
Sources and limits
These practices are educational governance guidance. Trust documents, governing law, and each advisor’s engagement terms control specific duties and disclosure requirements. Have qualified counsel review the protocol before adoption.
Related guides
- Family Governance With a Multifamily Office
- Access to Alternatives Through an MFO: A Practical Guide for Families
- Cross-Border Families and Multifamily Offices: A Practical Guide