1. Dr. Kirby Rosplock,
author of
The Complete Family Office Handbook
interviews:
Declan Winston Ramsaran,
Managing Director
PANGEA Private Family OfficesTM
WEALTH MANAGEMENT
for Multigenerational
Families

2. WEALTH MANAGEMENT
for Multigenerational
Families
Dr. Kirby Rosplock
interviews
Declan Winston Ramsaran of
PANGEA Private Family Offices
TM
May 11th, 2015
The contents of this interview are protected by copyright © 2015 PANGEA Private Family OfficesTM

3. Pronounced pan-jee-aah, the word
pangea is a neologism created
from two ancient Greek words, pan
meaning all, entire or whole and
gaea meaning earth or land. The
words taken together mean whole
earth, all lands or entire earth. We
chose the name because we
believe it epitomizes our thinking.
We recognize that while political
boundaries create international
separation, technology has unified
the whole earth in a manner that
makes the continents appear to fit
harmoniously together as one.
We care for multiple family
generations, and so we recognize
that economic and geopolitical shifts
that occur half-way around the world
will have some impact on the lives
of the different family members who
may be attending school, attending
to business or on hiatus abroad.
We also recognize that opportunities
to help families achieve their wealth
strategy objectives sometimes exist
outside their primary country of
residence.
We don’t claim to know everything
that is happening at all times around
the world, however we are diligent to
keep watch and ask questions of our
international network of professional
associates.
At PANGEA Private Family Offices
we help global families flourish for
generations.
For more information please visit us
at www.pangeafamilyoffices.com
Welcome to PANGEA Private Family OfficesTM
.
Our purpose is to help global families flourish for generations.

4. CONTENTS
Dr. Kirby Rosplock
interviews
Declan Winston Ramsaran, Managing Director
PANGEA Private Family Offices
TM
Q 1. Tell us about your background.
Q 2. How does PANGEA serve enterprising families and
provide family support to their wealth management
needs?
Q 3. What do you see as the most pressing
issues facing multigenerational wealthy
families?
Q 4. In your experience, where do you see families
fall prey to conflict or certain pitfalls that could
have been mitigated?
Q 5. If you were able to have dinner with anyone alive or
dead who would it be and why?
Q 6. What are one or two best practices learned from
your experiences over the years working with
families that could help other families in similar
situations?

5. Q1. Tell us about your background.
I am a 15-year veteran of the
Canadian wealth management
sector. I dedicated 12 of those
15 years to BMO Financial Group
– one of the big 5 banks in
Canada. My most recent role
at BMO was Director, Private
Wealth Planning where I led
national-scope wealth planning
strategy for BMO Private
Banking.
Over my BMO career I saw some
of the inner workings of several
banking operations including:
personal & commercial banking,
full-service & self-directed
brokerage, capital markets and
the private client group. Currently,
in my role as Managing Director,
I am leading the international
growth strategy for PANGEA
Private Family Offices.
In addition to the accomplish-
ments in my professional life, I am
a proud father, husband, brother
and son, and I believe strongly in
serving one’s community through
volunteer efforts and contribu-
tions to non-profits. My areas of
interest are education, science
and healthcare, the arts and
protecting our environment.
Organizations I am involved with
are Junior Achievement of Can-
ada, the FPSC Foundation and
SickKids Foundation. I serve as
vice-chair on the board of
directors for Summers at Sea, a
Canadian non-profit dedicated
to providing at-risk youth with
accredited, marine based
educational programs and
environmental impact opportuni-
ties.
I serve on the endowment
foundation board of a private
Canadian university and I am also
member of the Toronto Film
Society, the Art Gallery of Ontario
and Young Patrons Circle of the
Royal Ontario Museum.
I am a 15-year veteran of the Canadian wealth
management sector...I led national-scope wealth
planning strategy for BMO Private Banking.”
Declan Winston Ramsaran, Managing Director of PANGEA Private Family Offices
TM
“

6. Wisdom, passion, creativity and
integrity form the ethos of
PANGEA Private Family Offices.
We are a family wealth strategy
firm serving first and second-
generation creators of significant
wealth and their children.
We specialize in resolving
complex family wealth issues for
enterprising global families with
thoughtful guidance and insider
perspective. Our purpose is to
help global families flourish for
generations.
We believe that wealth
transcends dollars and decimals
to also include personal well-
being, family intellectual capital
and family & community legacy.
We believe a family’s wealth
strategy should consider both the
qualitative and quantitative
elements of family life supported
by a team of professionals
commanding mastery in their
disciplines.
Examples of qualitative elements
include: family communication
skills development, family
governance, making use of
concierge services to create time
and retaining the services of a
health coach to increase energy
and longevity. While not an
exhaustive list, the aforemen-
tioned qualitative services are
vital to helping the family thrive.
The families with whom we
partner with are usually
intensely private and so
discussions about internal family
conflict and personal insecurities
are approached respectfully and
meaningfully, with professional
guidance. continued on next page...
“We believe that wealth transcends
dollars and decimals to also include
personal well-being, family intellectual
capital and family & community
legacy.”
Declan Winston Ramsaran, Managing Director of PANGEA Private Family Offices
TM
Q2. How does PANGEA serve enterprising families and provide family
support to their wealth management needs?

7. continued from previous page...
Our approach to capital deployment
is systematic. First, we evaluate
investment opportunities with a high
degree of direct family control, and
then we consider investment
opportunities with lower direct
family control.
Systematically investing family
capital with this approach means
we consider the best interest of the
family first with an eye on
appropriate investments for the
family’s wealth strategy. Deployment
into investment opportunities that
are conducive to a high degree of
family control over a majority of
deployed capital is our aim.
PANGEA is a privately held firm,
meaning we have unrestricted
liberty to provide unbiased advice
guided by decades of experience
and insider perspective.
Our clients highly value our
independent position because of the
candor that it affords in communication
and the allegiance it fortifies to the
family’s best interest.
We’ve eliminated conflicts of interest by
centralizing decision-making authority
within the family’s thought leadership
council/Board of Advisors who are loyal
to the family.
Furthermore, we’ve separated the
strategy from the sale thereby putting
the decision making control back into
the hands of the family. While we may
not be the first to provide breaking news
or may not always arrange investments
with the highest return rates in the
investment universe, our purpose in the
relationship is to deliver the most
appropriate advice to the family after
careful consideration of the available
facts about their specific circumstances.
“Our approach to capital deployment is systematic.
First, we evaluate investment opportunities with
a high degree of direct family control, and then
we consider investment opportunities with
lower direct family control.”
Declan Winston Ramsaran, Managing Director of PANGEA Private Family Offices
TM

8. The most pressing issues for
first and second-generation
creators of significant wealth
are different than the most
pressing issues for fourth and
fifth generation stewards of
family wealth.
Generally, first and second-
generation family members
eventually struggle with
inappropriate inter-familial
communication.
Proper education on effective
family communication and
governance to maintain
uninterrupted, long-term
cohesion is critical to thrive
long-term.
Q3. What do you see as the most pressing issues
facing multigenerational wealthy
families?
At times, first and
second-generation creators
of significant wealth
succumb to complacency
and apathy borne from an
insular existence and the
privilege of access.
To help the family develop
through this process,
families need to articulate a
clearly defined purpose and
live with a vision to move
humanity forward in
meaningful ways.
...families need to articulate a clearly defined
purpose and live with a vision to move
humanity forward in meaningful ways.”
“
Declan Winston Ramsaran, Managing Director of PANGEA Private Family Offices
TM

9. Being wealthy doesn’t automatically
make us the best decisions makers.
Unsubstantiated self-confidence
fueled by pride and the illusion of
power drawn from one’s bank
account balance can sometimes get
in the way of good decision making.
After 30 years of successful
operation and explosive growth of a
family enterprise that serviced local
markets as well as export markets in
neighboring countries, the second
generation began to experience the
effects of selfish-pride as the
hierarchical family structure began to
disintegrate.
Q4. In your experience, where do you see families
fall prey to conflict or certain pitfalls that could
have been mitigated? Describe a specific case anonymously.
The erosion of respect and courtesy
within the family created a land-slide
into corporate litigation over
shareholder agreements, and the
contesting of estate intentions that
eventually generated public court
documents revealing private family
information, which was broadcasted
over local media news outlets.
Learning to deal with publicized
family affairs is difficult - especially
when personal friendships and
relationships become strained
because of the “family scandal.”
Retaining a spokesperson for the
family to communicate with media
was a crucial step.
The family also needed a
counselor to help family members
talk through the challenges of the
circumstances.
Had an effective multigenerational
governance strategy and clearly
defined family purpose been
established from the first generation,
coupled with educating the second
generation from childhood
about wealth and the family
history, conflicts like these can
be mitigated.
“Being wealthy doesn’t automatically
make us the best decisions makers.”
Declan Winston Ramsaran, Managing Director of PANGEA Private Family Offices
TM

10. Q5. If you were able to have dinner with anyone alive or dead who would it
be and why?
PERSON/CHARACTER(S)
I WOULD LIKE TO MEET
PURPOSE OF
THE MEETING
MY ROLE
IN THE INTERACTION
DURATION OF
THE INTERACTION
1. Adam of the pentateuch: pre-fall Understand humanity’s purpose in this age,
from his perspective and learn what he knew of
ages past.
Side-­by-­side, as friends 1 year
2. King Gilgamesh of the Epic of
Gligamesh
See his vision and learn how he made it reality.
Observe the events of the fall and where
people from the kingdom migrated to on the
earth.
Confidante to the king, serving on
inner circle of regal advisors
1 year
3. First named ruler of Palenque, GI,
the First Father
Learn how he became aware of the cosmic
criteria to create the calendar, and understand
what it meant to their people & their god(s).
As a first born son to GI 1 year
4. Imhotep vizier to Pharaoh Observe his stragetic ability to orchestrate kin-
dom-­‐wide achievements through
copious layers of intersecting complexity
all the while keeping the nation productive.
As Pharaoh’s royal treasurer 1 year
5. Shlomo HaMelech Observe first-­‐hand who he was and what he
did to earn him the title: Wisest of all Kings. Be
present at the meeting to observe the
interaction between Shlomo HaMelech
and the Queen of Sheba.
As Shlomo HaMelech’s private
political advisor and diplomat to
nations with commercial interests
1 year
10 People/Characters alive or dead that I would like to meet by: Declan Winston Ramsaran, Managing Director PANGEA Private Family Offices
TM
continued on the next page...

11. PERSON/CHARACTER(S)
I WOULD LIKE TO MEET
PURPOSE OF
THE MEETING
MY ROLE
IN THE INTERACTION
DURATION OF
THE INTERACTION
6. Vyasa author of the Rig Vedas Absorb the wisdom of the Upanishads,
Mahabharata, Baghavad Gita and the other
holy books of India. Learn of their origin.
As a king from a foreign land seeking
wisdom from an oracle
1 year
7. Fu Xi author of the I Ching Understand the source of inspiration for his
vision and writings.
As a just and wise Emperor seeking
his service
1 year
8. Hopi Native Elders Learn of their culture of peace and ancient
prophetic sources.
In the position of an appointed leader
being groomed for eventual
leadership of the people
1 year
9. Plato Learn about what he knew of Atlantis and
see how that knowledge influenced his
thought
As Soctrates 1 week
10. Future rulers of this planet and
rulers of those planets we may
colonize 500 years from now
Learn what human actions led to shaping
our future. Review one century at a time
from multiple perspectives.
As an inter-­planetary diplomat 3 years
continued from previous page...
10 People/Characters alive or dead that I would like to meet by: Declan Winston Ramsaran, Managing Director PANGEA Private Family Offices
TM

12. Q6. What are one or two best practices learned from your experiences
over the years working with families that could help other families
in similar situations?
I believe a family should
privately define their own
purpose and vision.
This vital process equips the
family to be at the helm of their
wealth strategy with strong
leadership and proactive decision
making rather than being subject
to reactive decision-making based
on random suggestions from
multiple advisors-each advisor
with their own competing agenda.
Trust but verify. A genuine
private family office provides
special access to tenured
professionals who, in most
cases, are no longer bridled by
a corporate muzzle.
The right relationship with these
types of professionals can make
all the difference in magnitude
and longevity of success of a
family’s overall wealth strategy.
Trust but verify. A genuine private family office
provides special access to tenured professionals
who, in most cases, are no longer bridled by a
corporate muzzle.”
“
Declan Winston Ramsaran, Managing Director of PANGEA Private Family Offices
TM
1. 2.

13. Declan Winston Ramsaran with Dr. Kirby Rosplock and members of the Veritage Family Office team at the 2015 Family Wealth Report Awards in New York City

14. PANGEA Private Family OfficesTM
is part of the PANGEA Global Wealth Group
corporation. PANGEA Global Wealth Group is a Canadian controlled private corporation.
Our clients highly value our independent position because of the candor that it affords in
communication and the allegiance it fortifies to the family’s best interest. We’ve eliminated conflicts of interest
by centralizing decision making authority within the family’s thought leadership council/Board of Advisors who
are loyal to the family. Furthermore, we’ve separated the strategy from the sale thereby putting the decision
making control back into the hands of the family.
Confidentiality, trust and independence are the primary reasons clients choose PANGEA Private Family
Offices. Our clients find us mainly from within our own private circle and therefore share similar family values,
strong community involvement and a yearning for personal growth. PANGEA Private Family Offices has
published many other reports, articles and interviews. Our thought leadership reports, articles and interviews
are regularly sought after by enterprising global families and their private advisors.
Learn more at www.pangeafamilyoffices.com
An invitation to
talk.
Perhaps you are contemplating the sale
of your family business or you are
concerned about how to provide
fairly to the members of your blended
family.
Whether your wealth affairs have
grown too complex for your current
financial advisor or you are
interested in learning if a private
family office is right for you and
members of your family.
Our client care team is available
to arrange a private conversation
to discuss the options available to you.
E-mail us for a private meeting at:
private.request@pangeafamilyoffices.com
Call our client care team at:
1-855-415-4075
Global head office:
1 First Canadian Place, Suite 5700
Toronto, Ontario
M5X 1C7
www.pangeafamilyoffices.com
@pangeaprivatefo | @wealthredefined
PANGEA Private Family Offices
PANGEA Private Family Offices