The field of Financial Coaching
The Philosof Method is an applicational method in the field of financial coaching, focusing on the management of the economic resource from the viewpoint of individual behavior. The method is based on the integration between finance tools and behavioral science and combines the worlds of consulting and coaching. It was developed by Galit Philosof and is implemented as an integral part of the services we provide.
The method includes practical tools for implementing positive financial conduct and eliminating disruptive or impeding financial behavior. Training and implementation of this conduct are done through simple repetitive principles that assist in making the right financial decisions effortlessly and with confidence.
The Philosof Method for Financial Well-being
01
Financial
Technique
Technique
- Income from Work
- Passive Income
- Ongoing Consumption
- Financial Assets
- Capital Statement
- Household Expenses
- Savings
- Loans
- Housing
- Investments
- Other Business Engagements
- Pensions
- Legal Protections
- Insurance Protections
- Liquid funds
- Tax
- Donations and Philanthropy
02
Strategic
View
View
- Immediate-term
- Medium-term
- Long-term
03
Personal
Fulfillment
Fulfillment
- Career
- Education
- Social Circles
- Leadership Skills
- Communication Skills
- Energy & Time Management Skills
- Hobbies & Leisure
- Health & Well-being
- Support & Belonging
- Behaviors
04
Family
Unity
Unity
- Vision
- Values
- Tradition & Legacy
- Culture
- Social Impact
- Behaviors & Habits
- Strengths
- Forums & Events
- Respect & Security
- Openness & Communication
The underlying assumption in the Philosof Method is that the way to achieve Financial Well-being is based on:
%
Consulting
Financial Proficiency
%
Coaching
Relationship with money and management skills (behaviors, thought patterns, beliefs, and habits)
This particular combination, along with our relationship and understanding of each family’s unique DNA and goals, come together to create a holistic process empowering any family to manage its capital, live in prosperity, and stay united.
LGA Method
We treat all family enterprises as systems. They have dynamic and overlapping subsystems: Business, Ownership and Family. Continuity requires planning and action across all three over time.
Ownership
A commitment to continuity requires a clear and energizing vision for future ownership along with the structures, policies and processes, and leadership to achieve it. These activities are typically governed by a network of Boards and committees that ensure the shared vision of the owners is aligned with business strategy and family values. These values often include important messages to family owners about stewarding wealth responsibly, and opportunities to achieve important social change and leave a family legacy via Family Philanthropy.
Family
All families are unique, though they also share many common characteristics, challenges, and opportunities. Members typically align around their core values and an emotional connection to a common entrepreneurial legacy. Their activities are often focused around connection, engagement, education and impact and governed by a Family Council.
Business
Enterprising families often oversee a range of activities including operating companies and investment portfolios. Long-term planning across complex entities requires strategic alignment, effective leadership, clear guidelines for family involvement, and effective communication with a broad array of stakeholders. These initiatives are typically governed by top executives in collaboration with a Board and Family Council.
1 - Family member
5 - Non-family operating owner
2 - Non-family owner
6 - Family employee
3 - Non-family employee
7 - Family operating owner
4 - Family owner
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