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The Stonehage Fleming View: Reputation Management in the Digital Age

No one is immune to public opinion and its consequences. Fortunately, there are concrete steps you can take to protect the family and its members from reputational damage.

  • Be responsible as employers and investors: your communities will judge you by your behaviours Avoid aggressive tax planning
  • Be conscious of how your business interests and activities could be interpreted and be diligent in your selection of business partners
  • Beware the speed and violence of social media: develop a strategy, including monitoring and education
  • Put reputation on the agenda for regular family meetings
  • “You never regret what you don’t say” - you never know who is watching, listening or
    recording
  • Prepare and educate the Next Generation. In the era of social media, what you say when
    young and inexperienced can haunt you and impact those around you for years to come.
  • Respect your customers and cherish your brand

If there are circumstances where remedial action is required, we can help by assessing the situation and then recommending which specialists in a crowded field are best to assist – whether media agencies, lawyers or cyber specialists.

As importantly, we believe that families should be proactive in understanding their digital profiles. Inaccurate information can generate and accelerate fake news or misinterpretation, endangering legitimate business activities and the family brand. Digital carelessness can expose family members to fraud and extortion – and even place them in physical danger.

We are slightly surprised by the data showing how few families are conscious of digital risk. A digital health check is a sensible element of a comprehensive risk management strategy and is not expensive for the peace of mind it provides. An agreed, proactive and publicly available narrative is also a sensible strategy to exhibit social capital thoughtfully and positively.

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