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New Money and its Challenges to the Private Service Professional

New Money and its Challenges to the Private Service Professional

New Money and its Challenges to the Private Service Professional

by Charles MacPherson, Founder, Charles McPherson and Associates


McPherson and AssociatesIt’s very easy to sit in judgment and disparage the “nouveau riche”.  It’s done all the time. The media loves to make fun of the young and moneyed and the public loves even more to hear stories of their folly and wasteful extravagance.  As they say in the newspaper business, “it makes good copy.”

In my business, I hear over and over again from people looking for employment that they will not work for the “nouveau riche.”  They justify their position in any number of ways.  For me, however, such declarations are always form of bigotry and tell me more about the snobbery of the individual making them than I’m sure they would like.  

Admittedly, new money does bring its challenges not only to the lucky individuals who have it but also to those men and women who work for them.  Matters can be further complicated by the combination of newfound money with youth.  For example, Over-Stepping Boundaries (OSB) is an all too common error made by both employers and employees.  When an employer does it it’s often because they confuse a working relationship with a friendship.  The bottom-line is that the running and organization of a newly constructed mega-mansion isn’t done by instinct. It’s a skill that is learned over time.  

A House Manager has a critical and potentially very rewarding role in assisting a young family to navigate successfully through these choppy waters.  The key to success is the following:

1.    Remember that you are “assisting” and not “teaching”.  A House Manager is after all in service and the notion of being an “assistant” is more in line with that role than a “teacher”.

2.    Be Diplomatic. The language that you use when offering advice is as important as the advice itself.

3.    Be Gracious even when your “assistance” is not well received.

4.    Be Consistent so that operational procedures become standard and expected over time.

5.    Give each other the benefit of the doubt and that no one ever wants to feel judged.

6.    And finally, stay professional and you’ll never go wrong

Remember, relationships always need time for healthy germination. While money might be earned overnight, building a successful household from the ground up will always take time. 

Charles McPherson


Charles MacPherson Associates Inc.
507 King Street East, Suite 200
Toronto, Ontario Canada M5A 1M3

Tel: (416) 369-1146


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