Module Four Assessment Copy

Question 1 of 20

5 point(s)

What are the steps in the Facilitate portion of our Family Meeting Roadmap?

Set the stage, facilitate the meeting, close the meeting, send a summary
Send a summary, set the stage, facilitate the meeting, close the meeting
Send agenda, facilitate the meeting, send a summary, close the meeting
Schedule prep calls, set the stage, close the meeting, send a summary

Question 2 of 20

5 point(s)

From our live calls, how many “touches” does it usually take to engage with a client family?

10
7
4
2

Question 3 of 20

5 point(s)

From the Legacy Capitals research, what is the percentage of advisors that do not feel confident in planning and facilitating a multigenerational family meeting?

5%
25%
68%
80%

Question 4 of 20

5 point(s)

Advisors that are new to designing and facilitating family meetings should start with ______ families.

“Red”
“Yellow”
“Green”
All of the above

Question 5 of 20

5 point(s)

Fill in the blanks: “The Whole Family Advisor mindset asks you to shift from being an _________ to _________ a ______________ when facilitating a multigenerational meeting.”

advisor, counseling, family
expert, managing, process
expert, telling, story
advisor, leading, family

Question 6 of 20

5 point(s)

From Dr. Orlando’s article “How Trusted Family Advisors Create Successful Family Meetings,” what are the top 3 family-oriented goals for millennials?

Stewardship of family legacy, preservation of family wealth, growth of family wealth
Tax minimization, philanthropy, impact investing
Stewardship of family legacy, impact investing, tax minimization
None of the above

Question 7 of 20

5 point(s)

What are some of the benefits of multigenerational family meetings?

Reduce change blindness
Improve communication
Expand your value to clients
All of the above

Question 8 of 20

5 point(s)

From Dr. Orlando’s article “How Trusted Family Advisors Create Successful Family Meetings,” what are some of the pitfalls of not providing multigenerational family meetings to your clients?

NextGen members “fire” their parents’ advisor
Mistrust of the advisor and their team
Poor communication
All of the above

Question 9 of 20

5 point(s)

Common engagement catalysts (life events) that would prompt a family meeting discussed in this module include:

Pending wealth transfer
NextGen graduating college
Liquidity event
All of the above

Question 10 of 20

5 point(s)

What are appropriate topics for a family meeting?

Family stories
Values and vision
Philanthropy
All of the above

Question 11 of 20

5 point(s)

What are some of the benefits of conducting prep calls as part of the family meeting process?

Share the purpose of the family meeting
Derive common themes to shape agenda
Opportunity to learn more about the family
All of the above

Question 12 of 20

5 point(s)

What are some agenda items (core topics) for a family meeting?

Mission / Vision statements
Communicating your legacy
Financial / Estate IQ
All of the above

Question 13 of 20

5 point(s)

What are the primary roles of an advisor during a family meeting?

Manage agenda & handle detractors
Guide conversation / Take note
Listen / Ask questions
All of the above

Question 14 of 20

5 point(s)

What are the three steps to close the meeting?

Summary, takeaways, and action steps
Summary, scheduling the next meeting, shaking hands
Educating, assigning tasks, scheduling the next meeting
None of the above

Question 15 of 20

5 point(s)

The first three steps of our Family Meeting Roadmap process are:

Engagement catalyst, set the stage, close the meeting
Prep calls, co-create the agenda, facilitate meeting
Engagement catalyst, plan logistics strategically, schedule invites and prep calls
Provide a meeting summary, close the meeting, conduct prep calls

Question 16 of 20

5 point(s)

During the Setting the Stage phase of the family meeting, what are some of the recommended strategies from our discussions for this phase?

Icebreaker
Provide a summary
Review agenda
Both A & C

Question 17 of 20

5 point(s)

What are some ways to defuse challenging family dynamics during a family meeting?

Review meeting etiquette
Acknowledge and normalize
Call a timeout
All of the above

Question 18 of 20

5 point(s)

What is the purpose of the “Parking Lot” tactic in a family meeting?

To keep family members on task and focused on agenda items
To deter open and honest communication
To keep a placeholder for off-agenda items
Both A & C

Question 19 of 20

5 point(s)

What are the characteristics of the personality type “Wallflower Wendy”?

Shy and doesn’t speak up very often in the meeting
Family misses out on hearing her viewpoints
Frequently becomes very tearful or angry during the meeting
Both A & B

Question 20 of 20

5 point(s)

What are some of the characteristics of the personality type “Texting Tonya/Too Cool Tony”?

Keeps picking up smartphone to view and reply to messages
Appears distracted and unable to track with the rest of the group
Makes fun of or seems reluctant to participate in an activity or conversation the group is about to begin
All of the above

Module Four Assessment Copy

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