I am a sixth-generation native Texan on my mother’s side and a fifth-generation native Texan
on my father’s side of the family. In 1856, my great-great-great grandfather, John Haggard,
took a chance for a better life and moved his youngest son Clinton and himself from Kentucky
to Collin County, Texas when there were very few settlers. His children prospered, continued to add land holdings, and have been farming and ranching for the last 150 plus years where he settled.

In the late 1980’s our family farm was in the path of progress when Ross Perot decided to build EDS (Electronic Data Systems) north of our farm. His company brought employment and growth
for the area which paved the way for the Dallas North Tollway. They paved it right through the middle of our farm. I was just getting out of high school at the time and really didn’t pay much attention
to the traffic except that it was cumbersome to move tractors, combines and work cows, especially when the latter got out onto the highway! The traffic has since changed the way we live.

As the traffic, development and growth continued, my family became more involved in real estate development and investments and less involved in farming. Midstream in college, I realized this was going to be a permanent transition and changed my major from agriculture to business. I graduated from Tarleton State University in 1992 with a double major in accounting and finance. Since then,
I have obtained my real estate brokers license, general securities license (Series 7) as well as
my investment advisor representative license (Series 66).

After college, I partnered with my cousin to create Haggard Properties, an arms-length family office hub for the Haggard family. While my role was primarily on the financial side as CFO, I had my hand in the real estate developments as well. In 2000 I started CFO work for a small number of families that needed a financial advisor or “mini” family office.

As I started working for other families, I realized there were elements that worked in my family
that other families were lacking. The reverse was also true. While no family is perfect, and luck
has something to do with success, there are some commonalities to successful families
in preserving assets and family unity across generations.

Some of the main elements are communicating and preparing the next generation about assets, heritage, wealth, values and the responsibilities that come with it. This usually means involving
the next generation in the long term planning in some way. Another element is having a shared vision of the meaning of wealth or the family business to the family. Another essential element is the actual physical and mental gathering together of the family on at least an annual basis.

Families that gathered together in a meaningful way were more unified and could handle disagreements and rally support better during difficult times than those who did not gather.

Unfortunately there’s no handbook on this and every family is different in their own way. I found myself helping on the family side just as much as helping on the financial side. From there my journey began into the family advisory work that I do today.