Reunion Format Supports Family Economic Advancement
April 9, 2007 by Staff
Filed under Book Reviews
San Francisco, CA (Akiit.com) – The Financial-Quest Group (FQ-Group) has begun to market an economic advancement program that’s anchored by the family reunion format. Over 200,000 family reunions occur in the U.S. each year and more than 37% of U.S. adults attend these events. “Family reunions offer an excellent opportunity to promote economic advancement through a program itinerary,” according to Howard Ware, CFP® and founder of FQ-Group.
The economic advancement program is known as a Family Reunion Business Plan. It’s promoted, coordinated and practiced throughout the year by family members. Surveys are also conducted to identify family needs and seminar topics for the reunion itinerary.
These plans build on relatives’ emotional ties and the premise that family resources should be exhausted before going “outside” for solutions. Some components developed to coordinate this process include: an e-mail alert system, disaster response plan, family-tree profiles, education program, personal financial planning, small business development and an annual reunion.
Ware has seen the potential of including these plans in the family reunion format for a long time. He has been in the financial services industry since 1985, and his family has coordinated reunions for over thirty years. Fortunately, an Aunt created a family e-mail alert system, and Ware expanded it to include the economic advancement program. At the 2005 reunion held in Conway, Arkansas, Ware was honored for elevating the family’s vision of the future. He said he knew then that he had to introduce the program to other families and communities.
FQ-Group is also determined to debunk the myth that relatives should never go into business together. Their campaign will be based on the fact that 90% of 24 million businesses in the U.S. are family-owned. For FQ-Group, it only makes sense that the reunion format should be used to encourage business development. They believe family businesses will support personal financial goals and community economic development. The program also offers a unique option for raising money for businesses through Direct Public Offerings (DPO).
The DPO allows small businesses to raise money by selling equity shares directly to the public. Family business owners can control the process and relatives can invest to support business growth. Family Reunion Business Plans also organizes relatives into investment clubs to pool their money and make investing more affordable. This strategy is creating a national network of families that expand resources and educates potential DPO investors.
“This is an important program and it’ll have a lot of impact. It supports current family financial priorities and bridges the future for the next generation. Even if a family doesn’t currently coordinate a reunion, we can still help to install the program. On top of that, we’ve made it affordable for everyone,” said Howard Ware.