Insights
By: Matthew Fleming
Navigating Risk and Legacy in a Shifting World – Matthew Fleming
Matthew Fleming, Head of Family Governance & Succession at Stonehage Fleming, led an insightful discussion at a dinner in Buenos Aires, following the STEP LATAM Conference, showcasing our commitment to the Latin American families. The event centred around findings from the firm’s latest Four Pillars of Capital report and brought together family business owners and advisors to explore wealth transition, risk management, and the challenges of sustaining family legacies in a complex world.
A Framework for Success
Throughout the evening, Matthew elaborated on how “a family’s success depends on its establishing a clear purpose for their wealth”, stressing how the Four Pillars of Capital—financial, intellectual, social, and cultural—provide a useful roadmap for families aiming to preserve wealth and values across generations.
Wealth Beyond Money: The Power of Intellectual and Social Capital
The most successful families, according to Matthew, are those who manage to balance financial capital with intellectual and social capital to foster enduring legacies. “How does a family harness its intellectual power?” he asked. “By understanding learning how to manage it with clarity and purpose where the gaps lie and building bridges, families can sustain and even strengthen their heritage. It’s not about avoiding risk but learning how to manage it with clarity and purpose.”
A Family Legacy of Resilience
Drawing on his own lineage, Matthew referenced the multi-faceted lives of the Fleming family, from brilliant bankers to world-renowned authors. “We have the author of James Bond. We have miners, bankers, and spies,” he remarked. Yet, the successes have not been without challenges. “In my family, we have seen divorce, addiction, unhappiness, and anxiety. The reality is, every family will face its own share of struggles.” A dose of realism and preparation, he cautioned, are key. “It’s unrealistic to expect that every generation will avoid hardship.”
The event was a testament to Matthew’s commitment to guiding families, offering the practical wisdom derived from both his personal experiences and the insights gleaned from his role at Stonehage Fleming. “To continue the learning journey,” he said, “is to acknowledge that wisdom is not static. It’s built through experience, passed down through generations, and honed through partnership.”