Let's Talk Family Enterprise: Recent Episodes
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Lets Talk Family Enterprise explores global ideas, concepts and models related to family enterprise advising. Brought to you by Family Enterprise Canada, specifically created for FEA designates and members of Family Enterprise Canada.
Host Aileen Miziolek speaks with Managing Director of The McQuaig Institute, Venessa Vasilakeris. Together, they talk about how using assessments in leadership development can be transformative inside a family business.
In family systems where trust, perceived favouritism, and emotional history can distort even the most straightforward decisions, objectivity is not a luxury — it's a leadership necessity.
Aileen and Venessa unpack how assessments create a shared, neutral reference point that depersonalizes tension and reframes differences as strengths rather than flaws. The conversation moves from personality and competency tools to 360 feedback, benchmarking, and leadership development, exploring not just what assessments measure, but what conditions need to be in place for them to actually work.
They're candid about where assessments go wrong: the fear of being pigeonholed, the danger of running a 360 process before a team has the psychological safety to hold it, and the all-too-common pattern of a great debrief followed by nothing. What emerges is a clear argument that implementation matters more than the tool itself, and that the families who get the most value are the ones who keep the conversation alive long after the results come in.
For business-owning families and the advisors who work with them, this episode is a practical and thought-provoking look at how awareness becomes the lever for lasting leadership growth.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Venessa Vasilakeris is a dynamic leader with over a decade of experience helping hiring managers and HR professionals build, grow, and develop individuals and teams. As Managing Director at McQuaig, she combines deep expertise in recruitment and talent management with a passion for innovation. Venessa has led the development of tools that empower organizations to make better people decisions, enhance productivity, and foster stronger human connections.
Venessa holds a BA from McMaster University and is certified in The McQuaig System. Outside of work, she's an avid learner, passionate traveler, and devoted dog mom to Douglas.
You can learn more about Venessa Vasilakeris on LinkedIn.
Key Takeaways
[:22] Aileen Miziolek opens the episode with an observation about leadership in family enterprise and introduces Venessa Vasilakeris, Managing Director at the McQuaig Institute.
[1:08] Venessa shares what services McQuaig offers in the context of leadership within family business.
[2:55] The core differences between corporate and family enterprise when it comes to talent management.
[4:57] Venessa explains how the vast array of assessments can make it difficult to choose the right tool. She shares some tips to ensure you use the one tailored to your needs.
[6:15] The power of personality.
[7:47] Unlike personality, competency can be developed and nurtured. Vanessa speaks to the synergies that can arise between personality and the great 8 leadership competencies and shares the functioning of the Competency 360 assessment.
[11:36] Venessa weighs in on the importance of transparency when it comes to assessment. In order to avoid conflict, some conditions must be met to remain outside of personal dynamics.
[14:35] Correcting the fear of pigeon-holing with assessments.
[18:39] When it comes to succession, keep in mind the number one thing successful leaders have in common, regardless of style!
[20:00] Venessa shares prime examples of the opposing siblings phenomenon.
[22:22] From relative pet peeve to super power.
[24:06] What does it look like when the assessment results are embedded into how the company functions?
[26:34] Venessa explains benchmarking through the lens of recruitment and development.
[29:53] How can families get started with assessments, what should they look at, and what do they need to prepare for?
[33:49] Aileen thanks Venessa for sharing so much of her expertise and invites listeners to subscribe.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
For more resources on assessments, visit McQuaig.com — A proud family-owned Canadian business.
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Host Steve Legler speaks with Susan St. Amand, President and CEO of the James A. Burton and Family Foundation, about the upcoming release of the 'Burton Report' on Canadian Family Business. Their conversation explores the vital role family enterprises play in Canada's economy and communities, the challenges surrounding succession and public policy, and the importance of stronger collaboration between enterprising families and government.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Susan St. Amand is President and CEO of the James A. Burton & Family Foundation and Founder of The Sirius Group Inc., based in Ottawa. With more than 30 years of experience advising enterprising families, she is a trusted authority on family enterprise governance, continuity planning, and strategic philanthropy. She is the immediate Past Chair of Family Enterprise Canada (FEC). She has chaired more than six boards while serving on over two dozen others, including the Ottawa Community Foundation, the Ottawa International Airport Authority, the Royal Ottawa Foundation for Mental Health, CALU, the Institute of Corporate Directors Ottawa Chapter, and a privately held steel company. Susan is also a founding member of the Women for Mental Health campaign at the Royal Ottawa Centre for Mental Health.
You can learn more about Susan St. Amand on LinkedIn and on the James A. Burton Foundation website.
Key Takeaways
[1:20] Steve Legler introduces Susan St. Amand, President and CEO of the James A. Burton and Family Foundation. He launches the episode by introducing the Burton Report on Canadian Family Business to the audience.
[2:53] The Burton Report was a long time in the making, Susan explains its genesis, construction, and purpose to support and maintain Canadian enterprises.
[5:28] Family enterprises seed, water, nourish, and grow more entrepreneurs, a necessity in today's economically shifting world.
[6:56] Susan touches on the importance of family enterprise in the changing demographic structure of Canada.
[8:11] Proper data and information are needed for the government to support family businesses effectively.
[10:02] Susan discusses the current information gaps and how to palliate them both on the business and the government sides.
[14:14] Transitions can be scary, but family enterprises think multi-generationally, and as such, provide stability through time. Advisors are critical in creating that long-term vision.
[19:00] Susan shares her thoughts on the role advisors may have in the sale of family enterprises outside of the family or even internationally.
[23:06] Succession planning currently marries poorly with the Canadian Income Tax Act. Susan offers a perspective on overcoming this.
[26:00] Susan shares a vision for family enterprises and their relationship with the government of Canada.
[28:21] Susan explains how the James A. Burton Family Foundation plans to support family enterprises for the economic future of Canada.
[29:47] Susan offers some of the results that enterprising families would be looking for in an amelioration of their relationship with the government.
[32:05] The importance of family enterprises in our very own communities.
[32:48] Susan shares her reading recommendation and a piece of advice for advisors.
[34:36] Steve thanks Susan for sharing some preliminary information on the Burton Report and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
www.ppi.ca
James A. Burton Family Foundation
Symposium 2026
The History of Money: A Story of Humanity, by David McWilliams
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Host Aileen Miziolek speaks with Gerry Meyer about navigating the complexities of compensation in family enterprises through the lens of the three-circle model. Their conversation explores the tension between fairness and equality, the importance of role-based pay and formal policies, and how remuneration differs across the business, ownership and family systems.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Gerry has over 40 years of experience in all aspects of business strategy, organizational culture and design, business transition/change management, and Human Resources, as both a practitioner and an advisor, with the last 20 years focused exclusively on family enterprises. He provides advisory services to family enterprises in Canada and the U.S. to founding, active, and next-generation families and non-family executives, covering family, ownership/shareholder and business governance, family dynamics and communication, family vision and values, family constitutions, next-generation development for succession/continuity planning, and optimizing existing family and organizational culture and structures.
You can learn more about Gerry Meyer on LinkedIn and on the Blackwood Family Enterprise website.
Key Takeaways
[0:23] Aileen Miziolek welcomes Gerry Meyer and launches the episode by asking him to start the conversation with his perspective on compensation within the lens of the three circles model.
[2:07] Gerry acknowledges that compensation is a very complex and delicate subject and that the three circles model can effectively structure the conversation.
[3:02] Gerry touches on how the business circle offers the first way to look at the three components of compensation for family members as well as outside parties.
[7:41] The equal versus fair perception in family dynamics often drives compensation decisions, and this can lead to difficult outcomes.
[9:47] Gerry shares an example from his practice that illustrates the trap of equal remuneration.
[12:44] Gerry's bias: pay for the role. He offers a few resources to pinpoint the fair market value of a role.
[15:06] Formality is your friend. This saying of Gerry's enables enterprise decisions to remain policy-driven as opposed to people-driven.
[16:20] The ownership circle offers a different kind of conversation when it comes to remuneration for people who are active in multiple roles.
[21:22] Gerry shares an example of multiple-tier remuneration and dividend allocation from his own practice.
[24:11] When it comes to the family circle, Gerry prefers to talk about remuneration versus compensation. He explains why.
[26:45] Gerry's thoughts on family counsel member remuneration, knowing that every family is different, and what works in one might not work in another.
[29:49] Gerry will be speaking at Symposium 2026 in Vancouver, where he will discuss managing family member performance.
[30:54] Aileen Miziolek thanks Gerry Meyer for sharing so much of his knowledge and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
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Symposium 2026
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Host Steve Legler speaks with Executive Coach Jill Nykoliation ahead of her Keynote set for Family Enterprise Canada's upcoming Symposium in Vancouver, taking place May 25-27, 2026. The discussion covers some of the limits of a stewardship mentality, and delves into helping each family member discover their own innate drivers and talents to use in service of the family enterprise
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Jill Nykoliation is an award-winning business leader with 30 years of experience shaping global brands, from Fortune 100 to entrepreneurial companies. For over three decades, she has dedicated herself to understanding why we do what we do. Her fascination with human insight was the driving force behind her co-founding a creative agency eighteen years ago — and now drives her work as a Personal Coach. Jill now applies her deep expertise to help people unlock their true potential and navigate pivotal moments in their lives and careers. Jill coaches executives one-on-one across the globe and facilitates workshops for corporations, YPO, and MEA Wisdom School, guiding leaders toward greater clarity, confidence, and impact.
You can learn more about Jill Nykoliation on LinkedIn.
Key Takeaways
[:23] Steve Legler welcomes Jill Nykoliation and launches the episode by asking her to share her thoughts on the notion of stewardship and how it holds importance for enterprising families.
[3:21] Jill speaks on the rigidity of stewardship in a world of increasingly fast-paced change.
[4:45] Is stewardship an ingredient of great leadership or vice versa? Jill shares her perspective.
[7:00] Leadership is an individual recipe, Jill explains how evolving styles and hierarchies can better serve upcoming generations and enterprises.
[8:05] Who is Carl Jung, and what are the 12 archetypes? Jill explains how each of them can impact leadership styles.
[11:04] Jill shares the exercise she will be walking the audience through at the Symposium in Vancouver and how it often leads to marvel and a new understanding of the people we have been living with our whole lives.
[15:24] The bicep and tricep as analogies for the part of ourselves we think we need to be versus our true selves.
[20:43] Jill touches on how a family enterprise needs to go beyond the needs of the business and always remember its family members, and how to empower each individual.
[22:36] It is OK for family members to go out and find their way outside of the family enterprise.
[23:32] Some archetypes do better in certain cycles: Who doesn't want an explorer in this fast-paced time?
[26:02] Are we "just like dad" or "just like mom"? Jill answers the heredity question and how it might be a trap.
[27:34] When it comes to family enterprise, can you make the role fit the person, or is it really just the other way around?
[32:00] Jill's promise to the audience!
[32:20] Jill shares her book recommendation and a piece of advice for advisors.
[36:13] Steve Legler thanks Jill Nykoliation for sharing so much of her expertise and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
From Strength to Strength: Finding Success, Happiness, and Deep Purpose in the Second Half of Life, by Arthur C. Brooks
Working Identity, Updated Edition, With a New Preface: Unconventional Strategies for Reinventing Your Career, by Herminia Ibarra
Symposium 2026
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Host Steve Legler speaks with Buddy Thomas, the author of Love, Wisdom, Money: The Family Fiduciary's Guide to Generative Wealth. Together, they discuss the concept of a 'Family Fiduciary' and the importance of putting those three elements—Love, Wisdom and Money—in the right order.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Buddy Thomas is the founder of Superior Planning – Family Office, specializing in customized family wealth and relationship enrichment programs for HNW and UHNW families since 1982.
A Certified Financial Planner and Accredited Estate Planner with a background in psychology and economics, Buddy is a thought leader in personal wealth management. He has authored four books, over 50 articles, and produced 200+ educational videos, including the Fifty-Five Second Family Fiduciary series.
You can learn more about Buddy Thomas on LinkedIn and on the Love, Wisdom, Money website.
Key Takeaways
[:23] Steve Legler welcomes Buddy Thomas and launches the episode by asking about his book Love, Wisdom, Money: The Family Fiduciary's Guide to Generative Wealth.
[2:15] Buddy explains what a Family Fiduciary is, how Love, Wisdom, and Money must come in the correct order, and how he came to understand why the order is so important.
[6:06] From Jay Hughes, through years of meeting families: translating "human capital" into an understandable concept for all was key for Buddy to flesh out this book.
[7:42] Learning to write books is quite the experience. "No one wants to read a whitepaper!" Buddy shares how finding your author's voice is part and parcel of learning how to write for good reading.
[10:03] Buddy shares how his own family founded and grew their own successful family enterprise.
[11:42] How can advisors encourage families to foster "the right stuff" and support them in growing?
[14:24] The family fiduciary has to lead the movement for the benefit of the whole family.
[15:54] How The Gift of Lift by David R. York opened Buddy's eyes.
[17:23] The gamification of enterprising families' dynamics.
[20:13] Why separating the portfolio and the cash flow games is really important.
[21:57] What Buddy believes a comprehensive planner should hope for.
[23:11] Helping families see what they have not been able to understand, so that they can make the best decision for themselves.
[25:32] If you've seen one family office… You've seen one family office. Buddy shares that in the course of his 40-year career, he has concluded that no two families will take the same decision.
[27:34] Buddy talks about separate vs. community property law and how surprised he was by the differences between Ohio and California.
[29:02] Buddy's book recommendation and advice for families and advisors.
[31:26] Steve thanks Buddy for sharing so much of his experience and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Values-Based Estate Planning: A Step-by-Step Approach to Wealth Transfer for Professional Advisors, by Scott C. Fithian
Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators, by James E. Hughes Jr.
Family Wealth: Keeping It in the Family--How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations, by James E. Hughes Jr.
Symposium 2026
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In this episode, host Aileen Miziolek speaks with Celina Caesar-Chavannes about why 'change' can feel so difficult in family businesses. Celina explains, in simple terms, how our brains get used to certain ways of thinking and reacting—and how that affects family relationships and decision-making. She also offers practical advice and resources to help families and professionals better navigate change and work together more effectively.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Celina Caesar-Chavannes is a globally respected leader and humanitarian who, for over 25 years, has been dedicated to helping individuals awaken their innate potential and live in alignment with their unique gifts. Widely regarded as one of the foremost experts in leadership, neuroscience, and personal transformation, Celina has worked with leading organizations such as TD Bank, Canadian Tire, Aga Khan Foundation, and McDonald's Canada.
A national bestselling author and celebrated international speaker, Celina's work in cognitive consistency and inclusive leadership continues to shape the global conversation on equity, humanity, and meaningful impact.
You can learn more about Celina Caesar-Chavannes on LinkedIn and on her website.
Key Takeaways
[0:23] Aileen Miziolek welcomes Celina Caesar-Chavannes and launches the episode by asking her a little more about her career and what drives her passions.
[2:49] Change is very hard in family business systems. Celina explains how well-established neural pathways reinforce existing thoughts and behaviours.
[5:32] Trusting your gut might be a good pathway to finding alignment.
[7:38] Before alignment, there is motivated cognition. Celina breaks down how this process works and why being aware of this process is part of how the self shapes over time.
[10:42] Resistance to change is linked to neuroplasticity, and Celina likens some neuro-pathways to concrete highways.
[13:25] There are no shortcuts!
[14:44] The default mode network, the central executive network, and the salience network, and how the interaction between the three largely dictates relational dynamics.
[18:19] There is no good, bad, right, or wrong; it's just how the brain is wired. Celina offers tips on how to short-circuit the default mode network.
[20:42] How the salience network hijack makes family business more challenging.
[23:23] Celina offers a path for advisors to educate families both in individual settings and as groups.
[25:44] Aileen invites listeners to register for the FEA Kinnect Toronto event coming up this February 19th, during which Celina will be speaking.
[26:37] Celina shares some resources and advice for families and advisors listening — grab a pen!
[28:57] Aileen thanks Celina Caesar-Chavannes for sharing so much of her knowledge and invites listeners to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Can You Hear Me Now?: How I Found My Voice and Learned to Live with Passion and Purpose, by Celina Caesar-Chavannes
FEA Kinnect Toronto: Cognitive Optimization for Leadership
Symposium 2026
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Regular hosts Aileen Miziolek and Steve Legler discuss some of their favourite episodes and insights from 2025's episodes of the Let's Talk Family Enterprise podcast. Hear them share their greatest takeaways and bring back good memories while encouraging listeners to subscribe for more!
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Key Takeaways
[0:26] Steve Legler and Aileen Miziolek come together for a year-end review for the Let's Talk Family Enterprise podcast.
[1:21] Steve shares his favourite takeaways and how what we see in general culture tends to be far from correct when it comes to addiction from episode #64 on addiction with Jeffrey Foote.
[4:01] Aileen talks about how the "Owner's Mindset" has now made it into her own practice from episode #65 on Ownership with Barbara Dartt.
[8:47] The distinction between Frankenstein and Frankenstein's monster, creating a vision, and the 10 domains, from episode #68 on collaboration and cooperation with Cindy Radu.
[14:00] Aileen and Steve share their favourite moments, ranging from the multiple hats advisors have to wear to what it means to work FOR a system from episode #69 with Roger Schwarz.
[18:01] The relationship kids develop with money can evolve poorly if it isn't managed. Steve and Aileen share their favourite insights from episode #70 with Mark Shiller.
[22:26] The difference between an abundance and a scarcity mindset, over- and under-functioning when parenting adult children, and more from episode #71 with Alyson Schafer.
[28:05] Aileen and Steve thank listeners for their continued support and close this episode with well wishes for the coming year and an invitation to sign up for Symposium, which will be held May 25‒27 in Vancouver, BC.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Symposium 2026
Episode #64 with Jeffrey Foote — Getting Beyond Addiction in Enterprising Families
Episode #65 with Barbara Dartt — "Owning" Ownership with Barbara Dartt
Episode #68 with Cindy Radu — Stop Frankesteining It
Episode #69 with Roger Schwarz — The Skilled Facilitator
Episode #70 with Mark Shiller — How Not to Ruin Your Kids With Money
Episode #71 with Alyson Schafer — Parenting Adult Children in Family Business
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Host Aileen Miziolek speaks with Dr. Tamara Rosier about how ADHD can show up in adults and the common misconceptions that can shape family enterprise dynamics. They explore how traits such as emotional dysregulation, risk-taking and divergent thinking influence communication, trust and generational roles within enterprising families. Dr. Rosier also shares practical ways to design systems that support neurodivergent minds, and highlights the value of coaching and self-awareness in helping families work more effectively together.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Dr. Tamara Rosier is a captivating and highly regarded speaker, widely recognized as a leading authority on ADHD and neurodiversity. Her signature blend of warmth, humor, and practical wisdom transforms complex concepts into relatable, actionable insights that resonate with diverse audiences.
As the founder of the ADHD Center of West Michigan, Dr. Rosier has dedicated her career to empowering individuals, families, and organizations to embrace the unique strengths of ADHD. Drawing on her rich professional background as a college administrator, professor, leadership consultant, high school teacher, business owner, and ADHD coach, she offers invaluable insights into how ADHD shapes and impacts daily life.
You can learn more about Tamara Rosier on LinkedIn and on her website.
Key Takeaways
[:26] Aileen Miziolek welcomes Dr. Tamara Rosier and asks her to share a little bit about what ADHD is and some common misconceptions around adult ADHD.
[3:54] Dr. Tamara nerds out for a minute explaining the role of the frontal cortex and the missing inner butler when it comes to ADHD.
[7:05] For all our listeners who don't have ADHD, be cool! Dr. Tamara explains emotional dysregulation.
[10:16] ADHDers tend to be risk takers and hunters, and in the maintenance phase of a business, this can cause friction.
[12:15] Dr. Tamara breaks down the effects of ADHD on different family business generations.
[15:45] Neurodiversity is diversity! Dr. Tamara explains the benefits — and pitfalls — of divergent thinking and how it can affect family system trust.
[20:07] Dr. Tamara shares how she addresses how to work without naming the elephant in the room.
[23:11] How to design a system that will benefit neurodivergent minds.
[24:50] Challenging roles for ADHDers? They can do anything, as long as they get to know themselves.
[31:04] The role of ADHD coaching in family systems.
[33:23] Dr. Tamara's resources for advisors and families working with ADHD.
[35:07] Aileen thanks Dr. Tamara Rosier for sharing so much of her knowledge, and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Your Brain's Not Broken: Strategies for Navigating Your Emotions and Life with ADHD, by Tamara Rosier, PhD
You, Me, and Our ADHD Family: Practical Steps to Cultivate Healthy Relationships, by Tamara Rosier, PhD
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Host Steve Legler speaks with Michelle Osry about how families need to deal with both complicated issues that require specific solutions, as well as complex challenges that require different skills to navigate to help the family make progress. They discuss the challenges in getting both advisors and families to understand these distinctions and find ways to work on having each family's best outcome emerge from co-creation. Guest bio Michelle Osry works with family enterprises and offices on governance and generational transition. She draws from a broad experience and range of disciplines and practices, blending systems thinking with traditional consulting frameworks, to help families navigate the complexities of wealth and family dynamics.
Before co-founding A&O Partners in 2023, Michelle was a partner at Deloitte Canada. She has been a Board member of Family Enterprise Canada since 2018 and is an instructor in their Family Enterprise Advisor program.
You can learn more about Michelle Osry on LinkedIn and the FEA website.
Key Takeaways
[:26] Steve Legler welcomes Michelle Osry and asks her to share a bit about how she became interested in the difference between complicated and complex.
[3:33] Michelle explains how planning a very complicated event led her to discover how roleplay could facilitate an understanding of complex situations.
[7:25] Experiencing unpredictability is part and parcel of understanding complex systems.
[8:44] FEA training is very technical and can lead to predictions that can easily be upended in a complex system.
[12:20] Michelle shares an overview of Theory U by Otto Scharmer and how it applies to advisors.
[14:13] Michelle shares an example of helping a family do their best thinking together, from a recent interaction with an FEA.
[18:55] There are many ways the facilitator helps families; Michelle shares a noticing tip for advisors.
[21:24] Michelle talks about sharing your feelings with a family as an advisor and offers another tool to use before and after meetings to help families get into a flow state.
[25:55] Instead of just looking at a screen, when describing a family organization, have the family members stand in their place!
[27:13] What Michelle has noticed in the evolution of her work with families, and how AI is affecting her practice.
[29:15] Michelle shares her book suggestion and her advice for advisors.
[33:36] Steve thanks Michelle Osry for sharing her insights, and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Ten Domains of Family Wealth
Johari window
The essentials of theory U - PRESENCING: 7 Practices for Transforming Self, Society, and Business, by Otto Scharmer
Unleash Your Complexity Genius: Growing Your Inner Capacity to Lead, by Jennifer Garvey Berger and Carolyn Coughlin
We Can Do This! 10 Tools to Unleash Our Collective Genius, by Kate Sutherland
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Aileen Miziolek hosts an in-depth conversation with Alyson Schafer, an acclaimed author and Adlerian family counsellor. In this thoughtful 30-minute episode, they touch on issues around over- and under-functioning children, why the notion of fair vs. equal in childhood can impact long-term family business dynamics, and how tackling the unique challenges of enterprising families requires maturity, open-mindedness and an understanding that sometimes personal responsibility is the only path forward.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Alyson Schafer is one of Canada’s leading parenting experts. She promotes a firm but friendly “democratic parenting” style and offers practical solutions backed by extensive evidence-based research. Alyson is an Adlerian family counsellor, author, and internationally acclaimed expert who empowers families by sharing her principles, rules, and tools for raising co-operative and resilient kids.
You can learn more about Alyson Schafer on her website and LinkedIn.
Key Takeaways
[0:26] Aileen Miziolek welcomes Alyson Schafer and asks her to share about her experience with family business dynamics.
[3:01] Understanding the notion of fair vs. equal is a large part of how a family orients itself. Alyson explains how the abundance and scarcity models may influence how this manifests.
[6:48] While intergenerational patterns are real, there is always hope for change when there is maturity and open-mindedness.
[10:36] Family businesses do not have the freedom of relative anonymity in the workplace: family tensions can easily translate into business tensions.
[12:52] Personal responsibility is required for change. Alyson offers a dance metaphor to illustrate that the “other” doesn’t always need to start the process.
[15:15] Children differentiate to stop competition. Alyson warns against bean-counting to prevent under-functioning.
[20:46] Alyson shares tips to manage over- and under-functioning in any given system.
[23:34] Co-leading siblings is possible, but will require strong buy-in, well-defined roles and responsibilities, and generational support.
[26:15] Solving problems at the parent level is usually the fastest way to power change.
[27:29] North America is singular in its propensity to cut off family members!
[29:43] Links to Alyson Schafer’s contact, podcast, and books can be found in the links below.
[31:11] Aileen thanks Alyson Schafer for sharing so much of her knowledge, and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Alyson Schafer’s Podcast: Parenting The Adlerian Way
Ain't Misbehavin’: Tactics for Tantrums, Meltdowns, Bedtime Blues and Other Perfectly Normal Kid Behaviors, by Alyson Schafer
Honey, I Wrecked the Kids: When Yelling, Screaming, Threats, Bribes, Time-outs, Sticker Charts and Removing Privileges All Don’t Work, by Alyson Schafer
Breaking The Good Mom Myth, by Alyson Schafer
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Steve Legler speaks with U.S. estate planning attorney Mark Shiller about his book, How to NOT Ruin Your Kids With Money: Navigating the Challenges of Transitioning Wealth in Families. Together, they discuss issues around character, competence, and capacity, the maturation process, and the uniqueness of each family member, with lots of useful tidbits for parents and rising generation family members along the way.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Mark A. Shiller has been a practicing estate and business succession attorney and wealth consultant for over 20 years. He works with individuals, couples, and families in connection with their estate, tax, and business planning. His clients are typically business owners, professionals, and senior executives who appreciate his thoughtful and creative approaches to their often complicated personal, tax, and financial planning challenges.
He is a Fellow of the American College of Trusts and Estates Counsel, former Chair of the Board of Governors of the Real Property, Probate and Trust Law Section of the State Bar of Wisconsin, Past President of the Milwaukee Estate Planning Forum, and Past Chair of the Estate and Trust Law Section of the Milwaukee Bar Association. Mark also served as an adjunct professor at the University of Wisconsin Law School for four years, teaching a course on estate and business planning for the privately-held enterprise.
You can learn more about Mark Shiller on his website and LinkedIn.
Key Takeaways
[:26] Steve Legler welcomes Mark Shiller and asks him to share about the process that took him through to writing his book.
[3:48] The minority, maturation, and maturity needs of any person impact their relationships with others and wealth; Marc shares an anecdote.
[6:16] Wealth magnifies and reveals character; money can enable people to do damage.
[8:08] Mark explains why resisting the urge to “fix it for them” is important when it comes to advising families.
[12:08] Mark’s allowance system and how it both worked and failed.
[14:52] Money conversations shouldn’t be all or nothing; raising kids is a process.
[16:34] What’s the purpose of apple trees?
[19:02] The definition of success as a parent shouldn’t be an imposition; involving the upcoming generation is a requirement of a continued legacy.
[21:44] Modelling as a way of ensuring success.
[22:47] On Al, Brittany and Carl, and the difference between value and virtue.
[26:45] The danger zone and some tips on how to navigate it best, according to Mark.
[29:32] Mark’s book recommendation and advice for advisors.
[32:13] Steve thanks Mark Shiller for sharing his wisdom, and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
How to Not Ruin Your Kids with Money: Navigating the Challenges of Transitioning Wealth in Families, by Mark Shiller
How to Know a Person: The Art of Seeing Others Deeply and Being Deeply Seen, by David Brooks
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In this episode, Aileen Miziolek speaks with renowned facilitator and author Roger Schwarz about the critical roles facilitators and consultants play—especially in complex systems like family enterprises. Roger explores how mutual learning, clear boundaries and transparency can elevate the value professionals bring to their clients, offering practical insights and tools for navigating advisory roles with compassion and clarity.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Roger M. Schwarz, PhD, is an organizational psychologist and president and CEO of Roger Schwarz & Associates. For more than forty years, he has helped leadership teams and organizations achieve strong performance, solid working relationships, and individual well-being. His work is grounded in the premise that creating fundamental, systemic, and sustainable change requires that individuals, teams, and the larger organization change the mindset that guides their behaviour.
You can learn more about Roger M. Schwarz on LinkedIn and the Roger Schwarz and Associates website.
Key Takeaways
[2:03] Aileen Miziolek welcomes Roger M. Schwarz and asks him to share a little bit about his background.
[4:10] Roger starts off sharing the proper definition of a facilitator, and more importantly, what they cannot be.
[6:28] The facilitator and consultant roles intersect and give rise to different possible titles. For Roger, it boils down to one question: What value do you bring to the client?
[9:31] Roger underscores the more obvious traps of the facilitative consultant with a few examples.
[12:06] The decision of which role to play is fraught with challenges, and the first may be a conversation with your client.
[16:31] Engaging a system without becoming enmeshed is critical. Roger talks about boundaries and becoming a mirror.
[18:38] Roger explains the unilateral control approach and mutual learning.
[21:38] The five core values of mutual learning.
[24:24] Roger shares the chess versus puzzle analogy.
[25:40] Many facilitators and consultants often get stuck. Roger offers that they try the transparency test.
[28:42] The role compassion plays in facilitating.
[31:34] Roger tackles an issue he is passionate about: the use of agendas! Or rather, using the purpose and process method.
[34:31] The purpose and process are established right before a meeting, but not so early as to become the meeting itself!
[37:05] Roger shares the story of a good and a bad facilitation.
[44:02] Roger shares who his books are for as well as some of the services and resources his office provides.
[45:55] Aileen thanks Roger Schwarz for sharing so much of his knowledge, and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Venesa Vasilakeris from McQuaig.com on building better teams.
Smart Leaders, Smarter Teams: How You and Your Team Get Unstuck to Get Results, by Roger M. Schwarz
The Skilled Facilitator: A Comprehensive Resource for Consultants, Facilitators, Coaches, and Trainers, by Roger M. Schwarz
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Join host Steve Legler for a video episode with guest Cindy Radu, recorded at the 2025 Family Business Symposium right after Cindy's session, which she conducted for a room full of attendees. Together, they discuss the challenges of professional collaboration when working with families, and highlight just how important it is for the families we serve so they don’t end up having to deal with a “scary monster.”
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Cindy Radu has had the privilege of supporting families globally through the intricate journey of wealth transition for over 30 years. Working collaboratively with existing advisors, her purpose is to integrate across disciplines to develop and implement effective governance structures, support families in their family and enterprise succession planning, and prepare the rising generation to be confident in their roles and responsibilities as wealth inheritors.
Her approach to family wealth transition is a unique blend of in-depth technical expertise and a deep understanding of how family dynamics can preserve legacies and strengthen bonds across generations.
You can learn more about Cindy Radu on LinkedIn and the Radu Family Wealth Transition website.
Key Takeaways
[0:26] Jodi Butts, Partner at Watson Board Advisors in partnership with Compensation Governance Partners, invites you to complete their 2025 Private Company Director Compensation Survey.
[1:46] Steve Legler and Cindy Radu are in person at The Family Business Symposium 2025. This episode is a nice recap of Cindy’s session and an idea of what to look forward to for the Symposium 2026 in Vancouver.
[2:50] Frankenstein and his monster; Cindy breaks down how siloed projects show up in enterprising families and foster overall disconnection.
[6:02] From cooperation to collaboration, how The Ten Domains of Family Wealth model facilitates a shift that generates cohesion.
[7:09] Steve mentions Episode #29, 10 Domains of Family Wealth, featuring Dr. Jim Grubman.
[7:23] Cindy explains what the Ten Domains of Family Wealth are.
[9:03] Why is the monster’s heart so teeny tiny? Cindy explains what the new role of the integrated wealth advisor can do about it.
[10:08] Steve mentions a previously shared article, The Rise of the Integrated Advisor, by Tom McCullough.
[11:24] Getting families involved requires building awareness; the Symposium involving both families and advisors is a nice step.
[12:59] The fear of opening a can of worms is often the primary reason why family leaders don’t ask the tough questions.
[14:39] How litigation expenses factor into this within a demographic bubble of wealth transition. Cindy lists all the things that could go wrong.
[16:52] Steve mentions Episode #50, Wealth 3.0, featuring Jim Grubman, Dennis Jaffe and Kristin Keffeler.
[17:00] When it comes to wealth 3.0, how do we stop Frankenstein-ing it? Cindy talks about raising awareness, but more importantly, taking the ten domains model to the next level.
[18:26] Getting someone who understands legal documents to review them is critical to avoiding painful outcomes.
[19:28] How to approach delicate conversations when it comes to families and their advisor relationships.
[21:20] If you had asked, you would have learned something!
[22:29] Cindy advocates for having the people affected by the will brought up to speed and equipped to understand.
[23:52] No two families — or family members — are ever the same, and all services need to be tailored as such.
[26:52] Cindy’s piece of advice for advisors.
[28:20] Steve thanks Cindy Radu for sharing her experience and wisdom, and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Jodi Butts, Partner at Watson Board Advisors in partnership with Compensation Governance Partners, invites family business leaders to complete their 2025 Private Company Director Compensation Survey.
The Ten Domains of Family Wealth with Cindy Radu and Dr. James Grubman, Ph.D
Let’s Talk Family Enterprise, Episode 29: 10 Domains of Family Wealth, with Dr. James Grubman
Let’s Talk Family Enterprise, Episode 50: Wealth 3.0, with Kristin Keffeler, Dennis Jaffe, and Dr. James Grubman
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Host Aileen Miziolek sits down with Philip Marcovici to explore long-term wealth continuity, the pitfalls of tax policy and how enterprising families can avoid common traps while building meaningful legacies.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Philip Marcovici is retired from the practice of law and consults with governments, financial institutions, and global families in relation to tax, wealth management, and other matters. An area of focus for Philip relates to the many issues faced by wealth and business-owning families, including governance approaches and the trust, partnership, and other structures used in the ownership of family assets. He is on the boards of several entities within the wealth management industry, as well as entities within family succession and philanthropic structures.
You can learn more about Philip Marcovici on his website and LinkedIn.
Key Takeaways
[:26] Aileen Miziolek welcomes Phillip Marcovici and asks him to explain how he came to jump into the wealth management industry.
[6:40] Philip touches on what continuity means for a family of wealth, and what is required for it to be achieved.
[8:54] Sometimes the beginning requires one to think about the destination; Philip explains how the Theory of Change can help guide such a reflection.
[10:53] Tax law is complex and emotionally charged. Philp points out where governments make critical mistakes in creating further wealth within their economies. He shares an example from his book.
[13:52] Philip offers advice for governments in the face of today’s ever-changing policies.
[16:21] Circular economy principles are easily transferable to family wealth management. Philip discusses waiting resources, human or otherwise.
[20:19] What advantages the “revolving door” feeling brings for enterprising families in transition.
[21:28] Communication with your wealth is not a good strategy. Philip explains why and how those trappings can lead to stalling the upcoming generation well into adulthood.
[24:34] Philip touches on how families can begin the exercise of planning for the long term for a collective. He offers real-world examples to illustrate his ideas.
[28:36] Does wealth destroy families and relationships? Philip offers a nuanced perspective.
[30:18] What gives Philip hope in governance, both political and within families.
[31:41] Philip offers his advice for families looking to project into the far future when it comes to governments.
[34:34] Aileen thanks Philip Marcovici for sharing his expertise and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Family Business Symposium 2025: Navigating the Calm and the Storm in Family Business, May 26 to 28 in Halifax, Nova Scotia
The Transformative Power of Family Wealth: Helping Families and their Communities Capture its Regenerative Potential, by Philip Marcovici
The Destructive Power of Family Wealth: A Guide to Succession Planning, Asset Protection, Taxation and Wealth Management, by Philip Marcovici
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Host Steve Legler speaks with Dan Doty, an executive and wilderness guide, about his upcoming session at Family Enterprise Canada's Symposium in Halifax. Together, they discuss the challenges that fathers face when leading a business and a family, and how the roles and expectations of fathers are rapidly evolving.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Dan Doty is a writer, wilderness guide, men’s work leader, and somatic meditation teacher, and has helped to instigate and lead a part of the current global men’s movement. Most comfortable in nature, he is committed to practicing and sharing work that brings wildness and love into the open. A three-time guest on the Joe Rogan Experience, Dan has spent substantial time as a wilderness therapy guide and an inner-city high school teacher, and directed and produced over 50 episodes of the hit hunting show MeatEater.
He has two young sons and a baby daughter, is in love with his wife and living very close to the land, near the sea, where life is quiet and beautiful.
You can learn more about Dan Doty on the Dan Doty website.
Key Takeaways
[:26] Steve Legler welcomes Dan Doty and asks him to share what audiences can expect from him at Symposium.
[3:19] Dan explains why and how he wants to open up the conversation on fatherhood in family business and how his background set the stage for centralizing the father’s role.
[5:33] How the unseen wall between father and son can be broken down has been central to Dan’s career; he speaks to the profound experience reconnection provides.
[8:05] An imbalance between doing and being has led to a loss of connection in most men.
[11:09] Becoming self-aware may be remarkably fast but developing the lexicon to talk about it is a longer endeavour.
[12:52] From one-on-one to group work, Dan breaks down how he works with fathers, sons, and men as well as organisations.
[16:47] Sometimes what is required is a safe space, stripped of expectation, for two people to reconnect on a personal level, as humans.
[18:46] Working in the family business space is very complex, and working on a case-by-case basis remains the best way to peel back the layers and find connection.
[20:41] Dan shares how masculinity and fatherhood are going through a wonderful evolution and today offers so much opportunity.
[23:19] Evolution can stun previous generations, but the good news is that all relationships are workable.
[24:56] Everyone is welcome, not just men!
[26:13] Dan’s hope for his session at Symposium.
[28:17] Dan shares his reading recommendation as well as his advice for fathers everywhere.
[30:07] Steve Legler thanks Dan Doty for sharing his expertise and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Family Business Symposium 2025: Navigating the Calm and the Storm in Family Business, May 26 to 28 in Halifax, Nova Scotia
Adam’s Return: The Five Promises of Male Initiation, by Richard Rohr
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In our 65th episode, Aileen Miziolek sits down with ownership expert and co-author of Own It!: How to Develop a Family Enterprise Owner's Mindset at Every Age, Barbara Dartt, to ask her how she started and grew her career in the family business consulting world, what being an owner of a family enterprise can mean and the different roles that owners often have to navigate in their ownership journey.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Barbara Dartt has more than 20 years’ experience helping individuals and family groups grapple with the joys and challenges that are a natural part of families owning and managing businesses together. As a principal consultant for FBCG, Barb helps families get aligned, anticipate and prevent future challenges, and communicate effectively to grow their businesses.
Growing up, Barb watched her grandfather and father provide educational extension services to family-owned farms. Her interest in serving farm families led her to study veterinary medicine, receiving her doctoral degree from Michigan State University in 1996. In 1998, Barb earned a master’s degree in Agricultural Economics at MSU where she worked as a graduate research assistant, and then as a Farm Business Management Specialist.
You can learn more about Barbara Dartt on the Family Business Consulting Group website.
Key Takeaways
[0:26] Aileen Miziolek welcomes Barbara Dartt and asks her to share how she came to a career in the family business consulting world.
[4:49] Regardless of the industry, the need for ownership development tends to sneak up on families; Barbara explains how that evolution can take place.
[9:40] Both operating and non-operating ownership can become complex and challenging, but non-operating ownership is not for everyone.
[11:12] Highly expert industries can evolve beyond their owners’ knowledge base so creating a team for strategic ownership is critical. Barbara explains a good perspective and a few non-negotiables to guide ownership development.
[17:00] Patient capital as a quantifiable way to measure the return on time and energy.
[18:45] The owners’ mindset, beliefs, and behaviors chart is one of the many tools provided in the book; Barbara shares her favorite.
[24:42] Barbara breaks down the common symptoms of underdeveloped ownership and what to do to prevent it.
[27:56] Generation friction can also be an issue when it comes to ownership, Barbara shares her experience with intergenerational cohorts and how their different perspectives affect what feels important to them.
[30:24] Barabara offers what advisory structure she would provide for proper ownership development.
[33:20] Aileen Miziolek thanks Barbara Dartt for sharing her expertise and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Family Business Symposium 2025: Navigating the Calm and the Storm in Family Business, May 26 to 28 in Halifax, Nova Scotia
Own It!: How to Develop a Family Enterprise Owner's Mindset at Every Age, by Wendy Sage-Hayward, Gaia Marchisio, and Barbara Dartt
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Host Steve Legler speaks with Dr. Jeffrey Foote, one of the authors of Beyond Addiction: How Science and Kindness Help People Change. Together, they discuss how family members and FEAs can become important catalysts in helping people with addiction issues overcome them, for the benefit of the entire family.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Dr. Jeffrey Foote is a psychologist and nationally recognized clinical research scientist with over 30 years of experience utilizing evidence-based treatment approaches for the treatment of substance use issues and Post-traumatic Stress. He is the Co-President and CEO of the CMC: Foundation for Change, a not-for-profit organization with the mission of improving the dissemination of evidence-based ideas and strategies to the families of persons struggling with substance use. Dr. Foote was a psychologist for the NY Mets for 11 years and has continued in sports psychology as an independent performance consultant to professional athletes. Before co-founding CMC in 2003, Dr. Foote was the Deputy Director of the Division of Alcohol Treatment and Research at Mt. Sinai Medical Center in NYC and Senior Research Associate at The National Center on Addiction and Substance Abuse at Columbia University in NYC. Dr. Foote is a member of the Association for Behavioral and Cognitive Therapies and the American Association of Addiction Psychiatrists.
You can learn more about Dr. Jeffrey Foote on LinkedIn and the CMC Foundation For Change website.
Key Takeaways
[:26] Steve Legler welcomes Dr. Jeffrey Foote and invites him to share a little bit about how the cultural discussion on substance abuse hasn’t evolved a lot in the past decades and how his book addresses this issue head-on.
[3:09] Cultural norms around addiction are hugely stigmatizing, Dr. Jeffrey raises another very damaging side-effect of culture as a variety of approaches that are not evidence-based are recirculated.
[5:17] Advisors are in a unique and very powerful position, and as such do need to be both sensitive and informed to provide a truly helpful direction.
[7:10] Dr. Foote touches on how Eddie Ford managed to move the perception of addiction forward from a simplistic moral issue to that of a disease.
[9:00] Stepping back and being able to look at the potential reasons for a person’s behavior is a good step toward understanding.
[10:56] Dr. Jeffrey offers the one thing he would ask advisors and families to do first and foremost: slow down.
[13:06] It turns out kindness is an evidence-based idea and it can motivate change.
[15:22] The invitation to change the model and some of the tools used to put it into practice.
[17:04] Dr. Foote explains why and how figuring out why those behaviors make sense helps you be kind while tackling addiction.
[18:36] The most powerful resource! Navigating out of addiction is more often successful when the families are involved, but families are the most underserved voices in addiction treatment.
[20:36] Self-awareness and self-care are a major part of helping others, but Dr. Foote cautions that it doesn’t necessarily mean detaching and walking away.
[22:44] Good communication tools are a huge asset, whatever the pain point! The Beyond Addiction Workbook offers compassionate, evidence-based tools.
[25:10] The past decades have offered some incremental change in addiction treatment, but the very high prevalence of co-occurring psychiatric issues still needs to be brought to light and addressed.
[28:01] Having a moderating voice in a family discussion on addiction is important to help slow things down.
[29:58] Dr. Jeffrey Foote shares his book recommendations as well as his advice for advisors and families.
[33:14] Steve Legler thanks Dr. Jeffrey Foote for sharing his expertise and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Beyond Addiction: How Science and Kindness Help People Change, by Jeffrey Foote PhD, Carrie Wilkens PhD, Nicole Kosanke PhD, and Stephanie Higgs PhD The Beyond Addiction Workbook for Family and Friends: Evidence-Based Skills to Help a Loved One Make Positive Change, by Jeffrey Foote PhD, Kenneth Carpenter PhD, and Carrie Wilkens PhD Listening Well: The Art of Empathic Understanding, by William R. Miller Inside Rehab: The Surprising Truth About Addiction Treatment-and How to Get Help That Works, by Anne M. Fletcher More about Family Enterprise Canada
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Regular hosts Steve Legler and Aileen Miziolek discuss some of their favourite guests and insights from the 2024 episodes of the Let's Talk Family Enterprise podcast. Hear them share their greatest takeaways to bring back good memories and encourage listeners to subscribe for more!
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Key Takeaways
[:26] Steve Legler and co-host Aileen Miziolek welcome listeners to the annual episode review! They each share their most impactful moments from 2024’s great list of guests.
[2:15] Aileen and Steve share their thoughts on her discussion with Perry Gladstone in terms of what identity brings to a business, and why dreaming together can help bring the rising generation into the fold.
[10:05] Episode 57 with Peter Vogel had one takeaway jump right out to Steve — find your why! Aileen resonates with making sure not everything looks like a nail and they both share how the Family Office Navigator book can help advisors.
[14:02] Pramodita Sharma’s episode 57 inspired Aileen and Steve on multiple levels. One, the rejuvenating potential of sustainability projects, both for businesses and for single actors, and how this field is a way multigenerational family businesses can have a broader world impact.
[21:00] The Happy Inheritor’s author, Thomas Deans, came on as a guest for episode 59. Steve and Aileen share how their long-time friend made their conversation both nourishing and thought-provoking.
[25:31] Episode 50 with Aileen’s colleague Kathy Carol, provided a wealth of information, just as her book offers a multitude of useful tools for advisors; Aileen and Steve share which ones they use.
[28:31] A thoughtful two-guest episode came out just this past December. Aileen shares what tidbits to take away from episode 62 on how not to leave a mess for your inheritors, and opening a conversation on end-of-life matters.
[33:36] Steve and Aileen look to 2025 and their new goals, and close out the year and this episode by inviting listeners to take advantage of the vast resources provided in these podcasts, and remind everyone to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Episode 55: “Rising Gen Innovation and Creativity in Family Business”
Episode 57: “The Family Office Navigator”
Episode 58: “Sustainability and ESG in Family Enterprises”
Episode 59: “Mental Health Impacting Intergenerational Wealth Transfers”
Episode 60: “Embracing Polarities to Harmonize Opposites in Enterprising Families”
Episode 62: “Estate Planning: Don’t Leave a Mess!”
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Join Aileen Miziolek as she sits down with Sandy Pollack, author of Don’t Leave a Mess and expert in values-based legacy planning, and Annie Stoneburgh, Death Doula and geriatric care specialist, to discuss the intersection of estate planning, family business transitions and end-of-life care. Discover how open, meaningful conversations can help families navigate these sensitive topics and create a lasting legacy.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Sandy Pollack, CFP, CLU, TEP, FEA, MFA-P founded Trimaran Advisory Group, a firm that goes beyond traditional business and estate planning. She has built an advisory firm based on the understanding that each family business has its own unique set of values and issues. Serving as Principal and Lead Financial Advisor, Sandy advocates for values-based legacy planning — believing that building wealth, and managing wealth are not the same thing.
You can learn more about Sandy Pollack on her LinkedIn and the Trimaran Advisory Group website.
Annie Stoneburgh is the founder of the 2 Steps Ahead consultancy and a professor at George Brown College. She leverages her expertise and passion to raise awareness and educate others on the psychosocial aspects of caring for older adults. Her 30-year career has spanned the entire continuum of geriatric care including Independent Community-based Living, Retirement, and Long-Term Care to Palliative Care.
You can learn more about Annie Stoneburgh on her LinkedIn.
Key Takeaways
[:26] Aileen Miziolek welcomes Sandy Pollack, financial and family business transition advisor, and Annie Stoneburgh, Professor at Gorge Brown College and Death Doula to discuss a delicate subject.
[1:47] Sandy explains what drove her to write her book Don’t Leave a Mess.
[3:31] Annie shares how her path led her to study end-of-life care and how she became a Death Doula.
[7:41] The archeology analogy Sandy uses to explain how she approaches and structures estate planning discussions with families.
[11:21] Meeting a family for the first time implies one difficult request from Annie and how hope changes as conversations progress.
[17:06] The advisor’s mindset and their tendency to “silo” can impact end-of-life conversations. Sandy offers ways of digging into deeper conversations.
[20:18] Aileen shares a personal story about navigating the end of her husband’s life and working with a Death Doula.
[23:34] What being the “what if” means for Annie and why leaving your career at the door when it comes to caregiving in end-of-life is critical.
[29:17] Communication (times 3), expectations, and agreement are the key aspects of having a smooth-running family system, especially in the context of a family business transition.
[32:52] The important role facilitators play in processing change.
[34:18] Annie and Sandy share their advice for advisors as well as some reading recommendations.
[38:36] Aileen Miziolek thanks Sandy Pollack and Annie Stoneburgh for sharing so much of their expertise and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Don’t Leave a Mess!: How to Disaster-Proof Your Family Legacy, by Sandy Pollack
Hope for the Best, Plan for the Rest: 7 Keys for Navigating a Life-Changing Diagnosis, by Samantha Winemaker and Dr. Hsien Seow
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
In our latest episode, Host Steve Legler speaks with recently arrived CEO of Family Enterprise Canada, Steve Beauchesne, to discuss the organization's evolution through the merger, COVID and what's ahead for our community.
Guest bio
Steve Beauchesne
Steve is no stranger to the family enterprise world. His journey with his father, from creating Beau’s, a leading craft brewery, to spearheading charitable initiatives, showcases his exceptional leadership and commitment to making a difference.
Steve’s vision for FEC and FEF revolves around empowering our members with valuable resources and a strong community support system. His track record of visionary leadership, strategic planning, and impactful communication promises to elevate our mission to new heights.
You can learn more about Steve Beauchesne on his LinkedIn and the Family Enterprise Canada website.
Key Takeaways
[:26] Steve Legler welcomes Steve Beauchesne and asks him to share his first experience with Family Enterprise Canada as a former Family Enterprise of the Year Award recipient.
[3:17] Steve talks about MCing and how he has enjoyed connecting with people in the community.
[5:48] From the two constituents of Family Enterprise Canada to the future ahead, Steve shares his vision for getting back to basics and getting some wind into FEC's sails.
[10:22] The impact stories and venting Steve has heard over the past months are great ways to set guide posts and indicate how truly passionate people are about FEC.
[13:27] New members are looking to find advisors, and FEAs are looking for collaborators; the future is about getting the right people connected.
[16:13] Steve doesn’t see finding opportunities as his challenge as CEO. The opportunities are there!
[18:08] Why Steve applied and how he is expecting to effect change.
[20:48] Steve is taking the full FEA course to attain a few specific goals, he explains how he thinks it will help guide him as CEO.
[23:25] The importance of learning before doing, but also champing at the bit!
[26:36] Steve’s thoughts on the team that surrounds him.
[27:51] Steve asks Steve to share one surprising thing about himself as well as one of his aspirations for the organisation.
[28:49] Steve Legler thanks Steve Beauchesne for sharing his passion and knowledge and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Audio Visceral
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Host Steve Legler speaks with Cathy Carroll, author of Hug of War: How to Lead a Family Business with Both Love and Logic. Together, they take a deep look at using the lens of Polarity Thinking to help family businesses work through many of the challenges they face, as well as how FEAs can use this tool to become better resources to their client families.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest Bio
Cathy Carroll Cathy Carroll grew up in a family business and enjoyed a 20-year corporate career before leading her father’s manufacturing business. Before founding Legacy Onward, Inc., Cathy led Pro Equine Group as President and COO. She held executive positions at United Airlines and Sabre and has an MBA from the University of Chicago and a BA from Boston College. Legacy Onward is dedicated to helping leaders in family businesses thrive.
You can learn more about Cathy Carroll on her LinkedIn and the Legacy Onward website.
Key Takeaways
[:26] Steve Legler welcomes Cathy Carroll to the podcast and asks her to share what led her to work as an executive coach to enterprising families.
[4:30] Cathy explains the basics of polarity thinking, using an inhale/exhale analogy.
[5:56] From “should” to “how,” polarity thinking can reframe any leadership positioning.
[7:30] Turning advisors into superheroes, Cathy shares how the 4-quadrant mapping system can reduce conflict during decision-making.
[9:50] How to get people in agreement to reframe questions without compromise.
[11:26] Emphasizing the possibility of change is a great way to get people aligned.
[11:59] Tackling the reveal/conceal tension of estate plans.
[14:16] Task conflict versus relationship conflict and the tools to manage both, Cathy shares a quick mnemonic device (A.L.I.G.N.) to manage task conflict.
[18:50] Relationship conflicts can be very destructive and must be addressed. Cathy shares her 5-step Play Fair (P.F.A.I.R.) process.
[22:37] Whether you’re a coach, a facilitator, or an advisor, practice makes perfect!
[25:31] Building tension to lead to the juicy morcels delivered in the very last chapters of Cathy’s book.
[28:08] Helping families see the bigger picture.
[30:35] Cathy’s reading recommendations and advice for advisors.
[32:42] Steve Legler thanks Cathy Carroll for sharing so much of her knowledge and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Hug of War: How to Lead a Family Business with Both Love and Logic, by Cathy Carroll
Think Again: The Power of Knowing What You Don’t Know, by Adam Grant
Family Business as Paradox, by Amy Schuman, Stacy Stutz, and John L. Ward
Polarity Intelligence: The Missing Logic in Leadership, by Dr. Tracy Christopherson and Michelle Troseth
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
In this episode, Aileen Miziolek talks with bestselling author and award-winning speaker, Dr. Thomas Deans, about the impact of mental health on intergenerational wealth transfers and how it led him to write his new book, The Happy Inheritor: How Successful Families Prepare Heirs and Transfer Wealth.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Tom Deans Dr. Thomas William Deans is the author of the all-time best-selling family business book, Every Family’s Business, listed by The New York Times as One of the Top Ten Books Business Owners Should Read. He followed that book with another international best-seller, Willing Wisdom, and his third book, The Happy Inheritor. He speaks full-time on the international lecture circuit.
Having delivered more than 2000 keynotes in 28 countries on four continents, Dr. Deans has built an international reputation as a thought leader on transitioning family wealth.
You can learn more about Tom Deans on his website and LinkedIn.
Key Takeaways
[:26] Aileen Miziolek welcomes Tom Deans to the podcast and asks him to share what led him to write his latest book, The Happy Inheritor.
[5:12] Dr. Deans shares his frustration around inaction when it comes to succession planning and what personality disorders might have to do with it.
[7:15] The one personality disorder that may spell business success might also cause serious family trouble.
[9:40] Personality disorders are a spectrum, and everyone exhibits some disordered traits.
[12:27] Dr. Deans shares how families can address succession head-on to avoid surprises and some warning signs to watch.
[16:48] What a facilitator can do to help families and why family advisors might want to get them involved early.
[21:00] Family meetings and advisors aren’t only for the centi-millionaires anymore.
[23:08] What cognitive dissonance is and how it paralyzes people’s decision-making process.
[28:00] Succession stress goes both ways and the next generation has a price to pay.
[31:47] Dr. Dean’s advice for advisors.
[36:34] Aileen Miziolek thanks Dr. Tom Deans for sharing so much of his knowledge and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Happy Inheritor: How Successful Families Prepare Heirs and Transition Wealth, by Dr. Thomas William Deans
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Host Steve Legler speaks with Professor Pramodita Sharma about sustainability and how family enterprises are uniquely placed to take advantage of business trends in this area. Pramodita shares inspiring stories based on her research, and points family businesses and their advisors into some promising directions.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Pramodita Sharma is the Schlesinger-Grossman Chair of Family Business at the Grossman School of Business, University of Vermont. She is a Research Fellow at the Thomas Schmidheiny Center for Family Enterprise at the Indian School of Business, and an advisory board member of the Jönköping International Business School (JIBS), Sweden. Among the highest-cited scholars in family business studies, her research on succession, governance, innovation, next-generation commitment, entrepreneurial leadership, and sustainability in/by family enterprises has appeared in journals like the Academy of Management Learning & Education, Entrepreneurship Theory and Practice, Family Business Review, Journal of Business Ethics, and Journal of Business Venturing, among others. Experiences and close interactions with her own family’s enterprises help keep her professional work grounded in the realities and complex dynamics of these fascinating enterprises that dominate the economic and societal landscape around the world.
You can learn more about Pramodita Sharma on the Grossman School of Business at the University of Vermont’s website and LinkedIn.
Key Takeaways
[:26] Steve Legler welcomes Pramodita Sharma and asks her to share an overview of her upcoming lecture at the Family Business Symposium focusing on the meaning of sustainability and the paths we can take to action.
[4:11] Sustainability is a journey that begins with awareness; Pramodita shares what phases come after.
[6:10] Family enterprises have a unique advantage regarding sustainability; the key is in the upcoming generations.
[9:09] Pramodita talks about the pioneering companies already taking advantage of their unique position.
[12:43] Sustainability as an antidote to the pressures of succession.
[15:04] The journey to a purpose-driven life through sustainability business practices.
[16:45] Case studies have proven to be a formidable multi-tool; Pramodita explains how she uses them and where the experience has been richest.
[19:35] Pramodita shares her hope for case studies in Canada and takes a moment to share a personal story.
[23:21] Is there an age or gender to the sustainability charge?
[27:39] The case competitions Pramodita organizes.
[32:20] Pramodita’s reading recommendation and advice for advisors.
[34:33] Steve thanks Pramodita Sharma for sharing her research and knowledge and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Circular Economy Handbook: Realizing the Circular Advantage, by Peter Lacy, Jessica Long, and Wesley Spindler
Ellen MacArthur Foundation
Museum of Science + Industry Chicago: Extreme Ice Exhibit
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
In this episode, host Steve Legler speaks with Professor Peter Vogel of IMD Business School to discuss Vogel's recent book, Family Office Navigator. Together, they highlight the critical role advisors can play when business families consider setting up a family office or want to take a fresh look at what they currently have in place.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Peter Vogel is a Professor of Family Business and Entrepreneurship. As an expert on family enterprises, he leads IMD’s work in this field as Director of the IMD Global Family Business Center and Debiopharm Chair of Family Philanthropy. He works with families, owners, boards, and executives of family enterprises and family offices around the world focusing on transformations, governance, ownership and leadership succession, wealth management, fostering entrepreneurialism and innovation within the system, and establishing professional boards and leadership teams.
You can learn more about Peter Vogel on the IMD website and LinkedIn.
Key Takeaways
[:26] Steve Legler welcomes Peter Vogel and asks him to talk a little bit about how he and his organisation became involved in the family business space.
[3:10] Peter touches on how family enterprises and offices are a worldwide trending challenge.
[5:24] The Navigator concept was built for enterprising families, Peter explains how it eventually grew to be used by advisory positions also.
[9:10] Setting up a family office is a complex process, but it can also be the ecosystem by which families can manage wealth effectively.
[13:00] Keeping in mind that family offices will evolve alongside the families that build them; the focus needs to be on what works for them.
[16:34] When it comes to thinking of family offices, who needs to be at the table?
[19:53] A family office has to be designed to work for the family, Peter explains how the downloadable .pdf framework can help achieve that.
[22:06] From the family office to other models, Peter explains why and how they are branching out into new frameworks.
[25:45] The how of a family office isn’t the starting point and Peter offers how advisors can better guide families through the learning process.
[28:27] Peter talks about the importance of experimenting, learning, and developing best practices for families.
[31:22] Peter shares his book recommendations as well as his advice for advisors.
[35:33] Steve thanks Peter Vogel for sharing so much of his expertise and closes this episode by reminding listeners to rate and subscribe.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
Peter’s recommendations:
Harvard Business Review Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise, by Josh Baron and Rob Lachenauer
Africa Is Not a Country: Notes on a Bright Continent, by Dipo Faloyin
FEX podcast episode #23: “Family Business Ownership: Four Rooms and Five Rights, with Josh Baron”
The Family Office Navigator: Your Guide to Building a Multigenerational Family Office, by Peter Vogel and Mario Marconi
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Ambreen Bhaloo, Family Enterprise Advisor, guest hosts this episode and welcomes Francesco Barbera, Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management for an in-depth discussion on the issue of homogeneity (all family firms are the same) vs. heterogeneity (all family firms are unique). In what ways does family governance lead to greater firm performance? Listen to this episode to find out!
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Guest bio
Dr. Francesco Barbera is an Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management at Ryerson University. His teaching and research interests encompass a wide range of topics related to family business, entrepreneurship, small business management, and family business education. Francesco is an international, award-winning author and educator and regularly presents at renowned conferences and workshops.
You can learn more about Dr. Francesco Barbera on the Toronto Metropolitan University School of Management website and on his LinkedIn.
Key Takeaways
[:26] Ambreen Bhaloo welcomes Dr. Francesco Barbera and invites him to share a little bit about his research interests and how they inform family advising.
[5:22] Dr. Barbera explains the importance of heterogeneity research when it comes to family enterprises and what this means for advisors.
[7:50] A recently published research explores how family structures impact the way governance leads to performance, Dr. Francesco shares some of the findings.
[11:07] Dr. Barbera explains what family functioning is and why it affects firm performance.
[16:11] The future of family business research looks heterogeneous; Dr. Francesco shares the areas of study he sees coming up next.
[20:23] Staying up to date on the latest academic knowledge will require work on the family advisor’s part.
[24:00] About Dr. Barbera’s work with the Family Institute.
[27:18] Dr. Francesco Barbera’s advice for advisors.
[27:48] Ambreen thanks Dr. Francesco Barbera for sharing his knowledge and closes this episode by reminding listeners about the upcoming Family Business Symposium held from May 27th to 29th in Calgary, Alberta.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
“Family governance and firm performance: exploring the intermediate effects of family functioning and competitive advantage”, Francesco Barbera and Tim Hasso, November 2022, Journal of Family Business Management 13(2)
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
In this episode, Host and Family Enterprise Advisor, Aileen Miziolek, talks with Purpose & Identity Coach Perry Gladstone about how family businesses benefit from NextGen innovation and creativity while sharing solutions that allow all parties involved to find the agency and support they need to make it happen.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Key Takeaways
[:26] Aileen Miziolek welcomes Perry Gladstone, purpose and identity coach, and asks him to share a little bit about his varied entrepreneurial background.
[4:58] Upcoming generations bring many new identities to family enterprises. Perry shares how this affects companies and how to integrate them best.
[7:51] Starting with values exercises is something Perry does not do; he explains his primary focus and why this technique can prevent conflict through trust-building.
[10:51] Perry speaks to the fear everyone carries in times of change and how facilitation fosters the safety of all participants.
[13:03] Individual work cannot be underestimated in strengthening the family enterprise structure.
[15:44] Perry shares what the dreaming together tool does that the value exercise doesn’t.
[17:37] New generations inevitably come with innovation; Perry shares where he has seen the most success in fostering innovative ideas.
[19:34] Tension between two factions can be mitigated by slowing down time and allowing for experimentation.
[21:59] Perry recaps how strength is built in a family system.
[23:13] Perry discusses the role of the third entity as it relates to ownership.
[24:40] Business owners vs. enterprising family; Perry shares how this might be the first thing to address.
[28:24] Perry shares his recommended resources.
[29:58] Aileen thanks Perry for sharing his knowledge and closes this episode by reminding listeners about the upcoming Family Business Symposium held from May 27th to 29th in Calgary.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
You can contact Perry on his website PerryGladstone.com.
FAST & HOT: How to Open Hearts, Win Minds and Create a Better Life in Business, by Perry Gladstone
Deconstructing conflict: Understanding Family Business Shared Wealth and Power, by Doug Baumoel and Blaire Trippe
The Family Business Symposium will take place on May 27‒29, 2024 in Calgary.
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
In their traditional annual “retrospective” episode, hosts Steve Legler and Ruth Steverlynck discuss highlights from some of the episodes that debuted in 2023, hoping to stimulate listeners to re-listen for great content they may have missed the first time.
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Key Takeaways
[:26] Ruth Steverlynck guest-hosts this 2023 retrospective with host Steve Legler to discuss highlights from some of this year’s best episodes.
[1:23] Episode 50 featured video and guests Jim Grubman, Dennis Jaffe, and Kristin Keffeler, and makes Steve’s must-watch list, Ruth touches on the positive discovery process.
[6:50] Episode 46 was one where Ruth had the absolute pleasure of hosting Jay Hughes, discussing a wide range of topics, the Foundation named in his honor, and the wonderful things that it will be producing.
[11:36] Episode 44 set the stage for a discussion with Coventry Edwards-Pitt on the often-overlooked significance of the prenup. Steve shares his thoughts on what the episode revealed.
[15:40] Episode 47 dove into the work of Dr. Paul Hokemeyer on the unique type of isolation wealth brings along. Ruth shares some of the enlightening thoughts on growth she garnered from this episode.
[21:14] Episode 51 highlighted one of this year’s new guest hosts: Ambreen Bhaloo and her guest Mike Sergeant. Steve and Ruth send some flowers their way.
[24:23] Episode 52 was Aileen Miziolek’s turn to host her first guest Marita Fridjhon, Steve shares how he and Aileen met and why she was chosen as a female voice for the Let's Talk Family Enterprise podcast.
[26:40] Episode 49 was one of Ruth’s favorites; she shares which takeaways and nuggets she still thinks about from David York’s interview.
[30:35] Ruth and Steve share their current favorite resources for 2024.
[33:39] Steve takes a moment to thank Ruth for launching this podcast project, now that she is stepping into different roles, and signs off until 2024.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Purposeful Planning Institute
The Wealth of Wisdom Podcast
The Wealth of Wisdom book
Episode 50: Wealth 3.0
Episode 46: In Conversation With Jay Hughes
Episode 44: Prenuptials: Engaged Healthy, Wealthy and Wise
Episode 47: Fragile Power: Why Having Everything Is Never Enough
Episode 51: Communication Dynamics in Business Families
Episode 52: Working With Systemic Change in Family Business
Episode 49: Stewardship for Enterprising Families
More about Family Enterprise Canada
Family Enterprise Canada
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
In this episode, Aileen Miziolek talks with Marita Fridjhon, co-author of System Inspired Leadership: How to Tap Collective Wisdom to Navigate Change, Enhance Agility and Foster Collaboration, and co-founder of CRR Global. Together, they discuss the complexity of systemic change in family business; the importance of meeting people where they are, instead of where we expect them to be; the benefits of teams when working with family business systems; as well as ideas on modeling positivity to help families gain confidence in their ability to work better together.
Guest bio
Marita Fridjhon is co-owner and CEO of CRR Global and a mentor to an ever-growing community of practitioners in the field of Relationship Systems work. She excels in supporting client systems to uncover systems-inspired solutions from the collective wisdom within the larger whole. Marita is an accredited coach and trained therapist with degrees in Social Work and Medical Social Work. She completed her training in Psychiatric Social Work before acquiring qualifications in Process Work, Alternative Dispute Resolution, coaching, and team coaching.
You can learn more about Marita Fridjhon on her website and LinkedIn.
Key Takeaways
[0:32] Aileen Miziolek guest hosts this month’s episode and welcomes Marita Fridjhon. They discuss how to apply team coaching to families.
[4:44] Marita touches on the application of the four-circle model to nested family systems in order to better serve as advisors.
[7:56] Although the relationship with oneself is the starting point, Marita explains how the system itself also develops a unique and evolving personality.
[10:00] Marita unpacks the strange permeability of boundaries within family systems.
[12:07] The iterative phases of systemic evolution: meet, reveal, align, and act.
[14:00] Marita reminds us there are multitudes within the self: be aware of which facet of the individual you are addressing.
[16:17] Identity and expression of self are in constant flux.
[18:45] Emotional literacy is on the decline, Marita explains how COVID-19 and a post-traumatic world are generating widespread fatigue.
[20:10] There is no easy fix.
[22:00] Empathy fatigue will inevitably generate larger conflicts that bleed from personal areas to business.
[24:04] Marita offers that advisors may support their families more on the personal side, or the business side, but rarely both.
[27:05] Marita offers a bit of history on the shifting boundaries between therapy and coaching and why some personal and professional advisory role-playing might best serve families.
[32:11] Rather than finding positivity, Marita proposes to model it. She shares a practice she discovered and implemented at work.
[37:00] Marita’s book recommendation as well as her advice for advisors.
[38:20] Aileen thanks Marita Fridjhon for joining the podcast and sharing so much of her expertise, and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Systems Inspired Leadership: How to Tap Collective Wisdom to Navigate Change, Enhance Agility, and Foster Collaboration, by Frank Uit de Weerd, Marita Fridjhon
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description:
Host Steve Legler welcomes Aileen Miziolek as his guest for a discussion about the intricacies of working with families, and how thinking about them as a "relationship system" can be useful. They discuss ideas around facilitation as an outsider invited to work with a family system, as well as using some basic family systems concepts that can help FEAs better understand the family relationships they encounter when working with clients. Guest bio
Aileen Miziolek brings a multi-disciplined and integrated approach to her work, including 20 years of experience in complex financial and estate planning for business-owning families. She holds the CFP®, FEA, ACC, and ORSC designations. Aileen is co-author of Inspired Wealth, Financial Leadership for the 21st Century, a book that serves as a guide for making critical life choices about money to create a fulfilling life. Her guidance has helped hundreds of families through the unique opportunities and challenges they face in the areas of inter-generational wealth transfer, business succession planning, estate planning, and philanthropy.
You can learn more about Aileen Miziolek on her website and LinkedIn.
Key Takeaways
[:26] Steve Legler welcomes Aileen Miziolek and invites her to share a little bit about how she ended up in family systems coaching.
[3:20] Coaching individuals outside of their systems leads to functional limitations and even conflict. Aileen explains how combined individual and system coaching offers results.
[6:35] Outsiders to the system need to remain outside and impartial, advisors are well-placed to identify patterns.
[8:28] Aileen’s “Pong” analogy.
[9:51] What should be the very first meeting’s very first question? Aileen explains how she builds a safe container.
[12:36] Aileen explains the ghosts in the system and how they can impact a business family.
[15:06] The system’s mirror may be its greatest function. How advisors can build system awareness.
[16:10] Aileen points out a potential pitfall: are you making the family up? Striking the right balance between structure and flexibility.
[18:16] Aileen offers a sibling example of conflict with positive outcomes and the attitude the advisor should have in the presence of conflict.
[21:47] The learning family culture is how Aileen reframes conflict for families. She shares how she manages system pressure.
[24:39] Nurturing a system’s belief in its ability to overcome is an important part of how Aileen works.
[26:40] Aileen touches on the increase of systems work being done with siblings.
[29:10] Aileen shares her reading recommendation as well as her advice for advisors.
[31:24] Steve thanks Aileen for joining the podcast and sharing so much of her expertise, and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Systems Inspired Leadership: How to Tap Collective Wisdom to Navigate Change, Enhance Agility, and Foster Collaboration, by Frank Uit de Weerd, Marita Fridjhon
CRR Global ORSC Coaching program
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
This month, we welcome Family Business Member, FEA and Family Enterprise Foundation Board Member, Ambreen Bhaloo, as guest host of our podcast. Ambreen welcomes Mike Sargeant, former BBC Correspondent, Speaker and Coach to talk about the lessons of high impact communication and listening, drawing on his experiences working in dozens of countries over 25 years, from war zones to Westminster to corporate boardrooms. Enjoy this engaging conversation! Guest bio
Mike Sergeant is a former BBC TV correspondent who helps people become better communicators, giving them clarity and confidence. Mike’s speeches, workshops, and coaching sessions distill the lessons of high-impact communication, drawing on his experiences in dozens of countries over 25 years from war zones to Westminster to corporate boardrooms.
You can learn more about Mike Sergeant on his website and LinkedIn.
Guest host bio
Ambreen Bhaloo is 2nd generation of an enterprising family and understands first-hand the complex and competing demands of family, business/management, and ownership. She lives in Toronto with her three children. Ambreen holds an honors degree from Western University and a Master’s in Education from the University of Pennsylvania. She is a Certified Co-Active Professional Coach (CPCC) and a Family Enterprise Advisor (FEA).
You can learn more about Ambreen Bhaloo on her website and LinkedIn.
Key Takeaways
[:26] Guest host Ambreen Bhaloo introduces herself and welcomes Mike Sergeant to the podcast for a discussion on communication in business families.
[1:58] Mike shares his story into journalism, some of his most spectacular pieces, and how acting gave him a solid foundation to better communicate.
[4:11] Fear or excitement, Mike offers his perspective on an often vilified emotion, even in the midst of a war zone.
[6:06] From journalist to organisation, governmental, and business family coach, Mike shares the skills that he found useful in this transition.
[7:47] Mike’s tips for building trust and confidence in new client families and how trust leads to better working relationships.
[10:40] What the generational wealth transfer coming in the next few years heralds as opportunities and challenges.
[12:33] Mike explains how family narrative can help build better communication and purpose.
[15:30] Step by step, what does it take to build a proper narrative? Mike shares critical aspects of storytelling.
[18:45] Taking the time to analyze family stories can build a broader understanding of the overarching family story.
[20:33] Each family is different and each family business is run differently; this means that storytelling will have varying degrees of intimacy.
[22:11] House of Gucci.
[24:38] The generational wealth transfer is also a value transfer. Mike offers that the upcoming gen needs to evaluate what they want to keep and change.
[26:56] After travelling the world, Mike offers the similarities and differences he has found within business families.
[28:56] Mike shares his reading recommendation as well as his advice for advisors.
[31:25] Ambreen thanks Mike for joining the podcast and sharing so much of his knowledge and experience, and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Fear Less: Face Not-Good-Enough to Replace Your Doubts, Achieve Your Goals, and Unlock Your Success, by Dr. Pippa Grange
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
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FEC on LinkedIn
Special Video Episode: Watch the video here
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
DescriptionIn this special 50th video episode, host Steve Legler speaks with all three authors of the recently released book, Wealth 3.0: The Future of Family Wealth Advising, Jim Grubman, Dennis Jaffe and Kristin Keffeler. Together, they discuss both the past and future of the field of advising families about wealth issues and cover some of the differences between working with family businesses, family enterprises and families of wealth. To mark the 50th episode, this podcast is presented in video format, a first for Let’s Talk Family Enterprise!
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
More about Family Enterprise CanadaFamily Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with David York, author of The Gift of Lift and Entrusted, about the concept of stewardship and how it applies to enterprising families. York also shares his three questions that every rising generation family member needs to have answered, along with his views on the continuum that runs from entitlement to enslavement.
Guest bio
David R. York David R. York is an Attorney, Certified Public Accountant, and Managing Partner with the Salt Lake City law firm of York Howell. David practices law in the areas of estate planning, tax, business planning, and non-profit entities. He is a Fellow with the American College of Trust and Estate Counsel (ACTEC) and is the Dean of Legacy with the Purposeful Planning Institute. David has extensive experience in designing and implementing advanced wealth planning strategies for high-net-worth clients. He is the co-author of three books, Entrusted: Building a Legacy That Lasts, Riveted: 44 Values that Change the World, which after its release was the #1 Business Ethics book on Amazon, and The Gift of Lift.
You can learn more about David R. York on his website and LinkedIn.
Key Takeaways
[:26] Steve Legler welcomes David R. York to the podcast and asks him to talk a little bit about the subtitle of his latest book: Harnessing the Power of Stewardship to Elevate the World.
[4:21] David played “slug bug” as a kid, he makes a parallel with looking for and finding examples of stewardship in the world.
[5:50] Though we use and hear the word a lot, stewardship is rarely defined. David offers the working definition he came up with in his book as well as the opposite of stewardship: consumerism.
[8:36] Transcendence and investment characterize stewards, David talks about the ill-perceived trait of entitlement and shares his experience in a five-generation vineyard in Verona.
[11:49] Stewards have a unique perspective on the relationship with the past, present, and future. David shares the four key building blocks of stewards.
[13:55] David dives into the notions of equality of opportunity and cost versus value. He also touches on the four Ps: purpose, preparation, perspective, and participation.
[18:35] The insidious problem of snowplow parenting and the problem of perceived entitlement.
[20:11] The three critical questions David poses to help families surmount the biggest issues surrounding wealth transfer.
[25:16] Entrusted is right in the middle between entitlement and enslavement; Steve and David break down how to keep the balance through rights and responsibilities.
[29:04] David’s reading recommendations and his advice for advisors.
[32:12] Steve thanks David R. York for joining the podcast and sharing so much of his learnings, and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, and other podcast apps. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
The Gift of Lift: Harnessing the Power of Stewardship to Elevate the World, by David R. York
Think Again: The Power of Knowing What You Don't Know, by Adam Grant
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
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In this special episode, guest host Lianne Ulin speaks with Richa Arora, Executive Director of KPMG Family Office about the latest continuity research report, Preparing the Next Generation: A Family Business Roadmap, made available in English and French.
Host bio
Lianne Ulin joined M Bacal Group in 1998 as she wanted to learn the family business. Over the past 21 years she has learned how to marry the client’s needs with the best in class innovative insurance solutions available. As the VP Finance and Administration, Lianne manages the office and our clients have come to rely on her as the go to person for all their customer service needs. She is a certified living benefits specialist (CHS) and FEA (Family Enterprise Advisor).
You can learn more about Lianne Ulin on the M Bacal website and on LinkedIn.
Guest bio
Richa Arora leads the Dynamics and Governance Practice in the Greater Toronto Area (GTA) and serves as a Lead Relationship Manager for Multi Family Office clients. She has been with KPMG for over a decade and brings over 19 years of diverse global experience to the Family Office team. Richa works with family enterprises, and large private and public corporations in a variety of industries. Richa’s deep experience in management consulting, human resources, and leadership development allows her to work with multi-generational families in developing custom roadmaps to suit their unique circumstances. As a Senior Family Advisor, she serves as a primary relationship link between Family Office clients, internal and external subject matter experts, and financial institutions.
You can learn more about Richa Arora on the KPMG website and on LinkedIn.
Key Takeaways
[0:29] Lianne Ulin is your host for this special episode, she welcomes Richa Arora of KPMG to discuss the results of the latest research released by Family Enterprise Canada.
[1:30] Richa explains what families can do to introduce children to and prepare them for the family business.
[3:56] The functional differences between formal education, mentorship, similarly-minded peers and external advisors as it relates to guiding children within the family business. Richa also offers which might provide more value.
[6:59] Planning “with” versus planning “for”: Richa shares a canoe metaphor to illustrate the importance of working together. She talks about how to better engage and integrate the next generation family members into long term planning.
[9:22] The latest report indicates that families aren’t quite ready for AI. Richa explains the position largely held by family business leaders when it comes to the role of nextgens and emerging tech.
[11:51] With the report results in hand, Richa shares her advice for current family leaders on communicating effectively with the next generation to leave them feeling prepared, as well as tips for the upcoming gen to respectfully find their path.
[14:10] Richa speaks of her own experience on the importance of creating a feeling of safety when it comes to succession planning, as well as the pivotal role of storytelling in effective communication.
[17:11] Lianne thanks Richa for coming on to the podcast and sharing the results of this report.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts and other podcast apps. Please remember to share this episode with family, friends and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Family Enterprise Foundation
KPMG Family Office
Ready, Willing and Interested — Or Not?
Who are the Guardians of Family Legacy?
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
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Dans cet épisode spécial, l'animatrice invitée Lianne Ulin s'entretient avec Olivier de Richoufftz, secrétaire général de la Family Enterprise Foundation, du dernier rapport de recherche sur la continuité, Préparer la prochaine génération : feuille de route pour les entreprises familiales, disponible en anglais et en français.
Hôte
Lianne Ulin a rejoint le groupe M Bacal en 1998 car elle voulait apprendre l'entreprise familiale. Lianne possède les connaissances et l'expérience qui assureront la continuité des principales valeurs de M Bacal à l'avenir. En tant que vice-présidente des finances et de l'administration, Lianne gère le bureau et nos clients en sont venus à la considérer comme la personne à contacter pour tous leurs besoins en matière de service à la clientèle. Elle est spécialiste certifiée des prestations du vivant (CHS) et FEA (Family Enterprise Advisor).
Pour plus d’informations au sujet de Lianne Ulin visitez le site web de M Bacal et LinkedIn.
Invité
Olivier de Richoufftz compte plus d'une décennie d’expérience auprès d’organisations soutenant les familles d’affaires ainsi que dans la croissance et la consolidation de leurs réseaux. Sa connaissance des enjeux importants auxquels les familles d’affaires sont confrontées de génération en génération se combine à un MBA d’HEC Paris et à sa vaste expérience en marketing, vente et développement. Il a travaillé pour des organisations telles qu’Euro Disney Resort et France Tourisme, et ainsi apporte une perspective stratégique et innovante à la Fondation des Familles Entrepreneuriales.
Pour plus d’informations au sujet d’Olivier de Richoufftz, visitez le site web de la Fondation des Familles Entrepreneuriales et LinkedIn.
Notes
[0:29] Lianne Ulin est vôtre hôte pour cet épisode spécial, elle reçoit Olivier de Richoufftz pour discuter des résultats de la plus récente étude menée par Family Enterprise Canada.
[1:59] Olivier explique quelles différences existent entre l’éducation formelle, les groupes de pairs et le mentorat pour préarer la relève à intégrer une entreprise familiale ainsi qu’à quel moment cette éducation devrait débuter.
[5:21] Planifier ‘avec’ ou planifier ‘pour’, Olivier met en lumière l’importance de mitiger nos biais et d’éviter la transactionalité dans l’intégration de la prochaine génération à l’entreprise familiale.
[7:38] Le futur appartient aux prochaines générations, et les technologies qui en sont issues aussi. Olivier partage l’importance des questionnements éthiques dans l’éducation de la relève en ce qui à trait aux technologies.
[11:40] Sans vouloir conseiller des généralités, Olivier offre qu’il existe des constantes pour communiquer plus efficacement avec les générations à venir.
[13:28] Olivier explique ce qu’il entend par ‘le futur se rétrécit’ pour la génération montante, il offre aussi ce que la génération actuelle aime entendre d’eux.
[16:00] Lianne remercie Olivier d’avoir accordé son temps et ses connaissances pour cette discussion.
Si vous avez apprécié cet épisode, abonnez-vous à Let’s Talk Family Enterprise sur Spotify, Apple Podcasts ou tout autre application qui diffuse des balados. N’oubliez-pas de partager avec votre famille, vos amis et vos collègues.
Partagez vos idées avec nous au fea@familyenterprise.ca
Mentionné durant l’épisode
Le balado Let’s Talk Family Enterprise est présenté par Family Enterprise Canada.
Fondation des Familles Entrepreneuriales
KPMG Bureau de gestion familiale
Ready, Willing and Interested — Or Not?
Who are the Guardians of Family Legacy?
Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC Facebook
FEC Twitter
FEC LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
In this episode, host Steve Legler speaks with Dr. Paul Holkemeyer, a renowned psychotherapist who works with individuals and families all around the world. Together, they discuss Paul’s book, Fragile Power, and venture into the challenges of working with exceptional clients from minority populations of the ultra-wealthy, including the narcissistic and the addicted, and how FEAs can try to better serve such family clients.
Guest bio
Dr. Paul Hokemeyer (J.D., Ph.D.) believes mental health matters for everyone, everywhere. He is the founding principal of Drayson Mews and the author of seminal resources for UHNW individuals, couples, and families seeking culturally respectful and clinically effective mental and relational health services. Prior to graduating from the Harvard Medical School’s Global Leaders in Healthcare program, Dr. Paul explored the use of digital technologies to improve the delivery of behavioral health services to disenfranchised global communities at the Yale School of Management. Dr. Paul’s research in the realm of UHNW identity and behavioral health has been peer-reviewed and published by the Journal of Wealth Management, the International Family Offices Journal, Globe Law and Business, and Lambert Academic Press.
You can learn more about Dr. Paul Hokemeyer on LinkedIn.
Key Takeaways
[0:26] Steve Legler introduces Dr. Paul Hokemeyer and asks him to talk about his book, and more specifically its subtitle: Fragile Power: Why Having Everything Is Never Enough; Lessons from Treating the Wealthy and Famous.
[3:36] Qualitative wealth tends to be non-linear and messy and will affect quantitative wealth. Dr. Hokemeyer shares how he thinks advisors and advisory firms might best navigate issues in this realm.
[6:40] Recognizing, understanding and networking in order to better support families.
[8:38] Challenging self-reinforcing traits as they relate to minorities in positions of power: isolation, suspiciousness of outsiders, and hyper-agency.
[14:23] Earning trust for a clinician is a tall order, Dr. Hokemeyer shares an example that explains the luxury rehab culture and how to avoid the biggest pitfalls.
[21:20] The handshake business of finding humanistic care.
[22:37] Dr. Hokemeyer explains how narcissism develops and why this trait may be more frequent in UHNW. He also abounds in the way of relying on empirical data and credentialed professionals.
[28:21] The two extremes of powerful and powerless minorities harbour stark internal similarities, despite their ever-growing divide.
[31:44] Dr. Hokemeyer shares his reading recommendations as well as his piece of advice for advisors.
[32:44] Steve thanks Dr. Hokemeyer for joining the podcast and sharing so much of his expertise, and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts and other podcast apps. Please remember to share this episode with family, friends and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Fragile Power: Why Having Everything Is Never Enough; Lessons from Treating the Wealthy and Famous
The Alchemist, by Paolo Coelho
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
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FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Ruth Steverlynck sits down with industry giant James E. Hughes, author of several seminal works in the family enterprise space, to find out more about his new Foundation: The James E. Hughes, Jr. Foundation and the important role it will play in ensuring FEAs and family business leaders can benefit from all the Foundation is doing in support of their work with business families.
Guest bio
James E. “Jay” Hughes, Jr. is a sixth-generation counselor-at-law, now retired, author and co-author of multiple books and influential articles on family governance and wealth preservation. He is renowned for facilitating multigenerational family meetings, with an emphasis on governance issues. Hughes is frequently called on to address international and domestic symposia on helping families to flourish through the growth of their human, intellectual, spiritual, social, and financial capital.
You can learn more about Jay on his website and the James E. Hughes Foundation website.
Key Takeaways
[0:26] Ruth Steverlynck introduces and welcomes a very special guest — the man who revolutionized the field of wealth management — James “Jay” E. Hughes.
[4:03] The James E. Hughes Jr. Foundation was launched without his knowing! James shares the story of how it came to be, and the two things he asked to be changed at its inception.
[7:29] Supporting families flourishing is an endeavour that traces its roots to ancient times. The foundation hopes to disseminate and propel those thought lineages into the future through publishing previously impossible-to-access works.
[12:24] Jay shares his hopes for what impacts the foundation will have in the future: alleviating unnecessary suffering without battling entropy.
[17:04] Jay shares two seminal works that the foundation has disseminated.
[21:16] Jay shares his thoughts on the most valuable thing on earth as well as what people can do to support the foundation’s work.
[25:10] Jay talks about the foundation’s latest work on translation in the 4th economy and shares the website for people to go dig a little deeper.
[28:42] Jay shares two books that have influenced him and his advice for advisors.
[34:02] Ruth thanks Jay for joining the podcast, but also for the immeasurable contributions he has made to the field and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
The James E. Hughes Foundation
Books by James “Jay” E. Hughes Jr.
Family Wealth: Keeping it in the Family
Complete Family Wealth: Wealth as Well-Being
Family: The Compact Among Generations
The Cycle of the Gift: Family Wealth and Wisdom
The Voice of the Rising Generation: Family Wealth and Wisdom
Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors & Trust Creators
Book recommendations from Jay
Nicomachean Ethics, by Aristotle
Politics, by Aristotle
Second Treatise of Government, by John Locke
More about Family Enterprise Canada
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Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Host Steve Legler speaks with Kristin Keffeler about her recent book, The Myth of the Silver Spoon: Navigating Family Wealth & Creating an Impactful Life. They discuss how advisors to enterprising families and families of wealth can become resources to the rising generation of these families as they face challenges that are typically overlooked by society.
If you enjoy this episode and want to hear more from Kristin, don’t miss out on her presentation at Symposium 2023 in Ottawa, May 29 – 31.
Guest bio
Kristin Keffeler, MSM, MAPP
Kristin is a thought leader, speaker, and consultant at the forefront of a global shift in family wealth advising, known as Wealth 3.0. She guides affluent and enterprising families, rising gen, and the professionals who support them in embracing the positive power of wealth and doing the “inner work of money.”
You can learn more about Kristin Keffeler on LinkedIn and the Illumination360 website.
Key Takeaways
[:26] Steve Legler welcomes today’s guest Kristin Keffeler and asks her to talk a little bit about the impact her peak human performance and positive psychology background have had on her new book.
[9:08] Kristin shares her perspective on the myth of the silver spoon.
[12:20] Clearing the clutter is an analogy Kristin uses to give perspective to the rising generation. She breaks down the four kinds of clutter.
[15:30] Budgeting is empowering, even in a situation of plenty, Kristin explains why.
[18:37] The identity factors that made some rising gens systematically thrive.
[20:45] Kristin shares her tips for advisors to help families lay good foundations.
[25:15] Having some “skin the game” in their own life is a critical part of skill building for younger generations.
[26:50] Being born into wealth shouldn’t mean you are forced into any specific path in life.
[30:36] Kristin shares her book recommendation and a piece of advice for advisors.
[34:27] Steve thanks Kristin for sharing so much of her learnings and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
The Myth Of The Silver Spoon: Navigating Family Wealth & Creating an Impactful Life, by Kristin Keffeler
Good Inside: Become The Parent You Want To Be, by Dr. Becky Kennedy
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their family clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Coventry Edwards-Pitt about her third book, Engaged Healthy, Wealthy & Wise, which tells the true stories of wealth inheritors and their significant others, and how they navigated the situations surrounding the prenuptial agreements they were asked to sign by the family’s well-meaning advisors.
Guest bio
Coventry Edwards-Pitt
As a Partner and the Chief Creative Officer at Ballentine Partners, Covie is responsible for thought leadership for the firm and ensuring that the firm brings novel thinking to our clients. She specializes in helping her clients manage their wealth’s impact and ensure that their comprehensive wealth management strategy reflects their families’ values and goals.
You can learn more about Coventry Edwards-Pitt on LinkedIn and the Ballantine Partners website.
Key Takeaways
[0:26] Steve Legler introduces today’s guest, Coventry Edwards-Pitt, and invites her to share a little bit about her third book, Engaged Healthy, Wealthy & Wise.
[1:46] Covie frames her latest book in the broader context of the first two: Healthy, Wealthy & Wise and Raised Healthy, Wealthy & Wise.
[3:48] Flipping the usual engagement-related questions on their heads!
[6:04] Covie talks about the pain she heard in the book interviews that led her to see what is broken in the way families of wealth and their advisors tackle the question of engagement and marriage.
[8:25] No one ever really broaches the subject of that process, sharing these stories is a way of alleviating the emotional burden while trying to find a better way.
[10:50] The David and Goliath issue facing young couples beyond losing their sense of agency, loyalty, equality, and unity with each other.
[12:36] Covie shares a story that she calls the gold standard.
[14:10] Covie explains the history of the prenup and how it’s evolved over time.
[16:22] If the strong majority of couples are made up of one inheritor and one not, how can we build a better prenup process so as not to generate discord in young couples?
[17:23] It isn’t about if to prenup, it’s about how. Coie speaks to how an advisor’s role could be modified to better tackle the “how” of prenups.
[19:45] Covie shares best practices and talks about sibling relationships and how they might present particular challenges when it comes to prenups.
[23:12] Agency and autonomy is a new generation goal, Covie shares an example.
[25:20] Covie shares her thoughts on how advisors can better support their families.
[30:28] Covie shares her reading recommendation as well as her advice for advisors.
[35:00] Steve thanks Coventry Edwards-Pitt for sharing so much of what she learned and signs off until next month.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Engaged Healthy, Wealthy & Wise: Lessons from inheritors and their significant others on how they have navigated love and family wealth and forged their own joint path, by Coventry Edwards-Pitt
The Generous Prenup: How to Support Your Marriage and Avoid the Pitfalls, by Laurie Israel
In Three Generations: A Story About Family, Wealth, and Beating the Odds, by Kristin Heaney
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
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FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Regular hosts Ruth Steverlynck and Steve Legler discuss some of their favourite guests and topics from the 2022 episodes they each hosted. They once again share their greatest takeaways in the hopes of bringing back good memories and encouraging listeners to go check out episodes they may have missed along the way.
Key Takeaways
[0:26] Steve Legler and Ruth Steverlynck are both your host — and guests! — for this special end-of-year episode.
[1:05] Steve welcomes Ruth to the podcast, they share how much they enjoy revisiting episodes and highlighting some of the more salient moments of 2022.
[2:38] Steve shares his take on the most recent episode “The Quest for Legitimacy” with Dr. Weiner.
[6:13] Ruth talks about what she took away from the episode with Dr. Weiner and how she has adapted her practice.
[7:07] Steve asks Ruth to share her highlights on the episode with Amy Hart Klyne and talks about the secret sauce and how to best use Amy’s book.
[10:29] Steve and Ruth each share how Amy’s advice should be part of all advisory work.
[12:07] “Family Champions and Champion Families” with Joshua Nacht was a memorable episode also; Ruth shares how this discussion on continuity had an impact on her.
[14:44] Steve talks about how Joshua’s research unfolded and how this one unpaid, unnamed role came to light.
[17:00] “Inheritance Styles, a Roadmap For Rising Generations” with Robin Catlin brought to light a category of inheritor type Steve wasn’t aware of before.
[17:40] Ruth explains what PPI and FFI are and shares how the extremely useful Robin Catlin episode shifted how she approaches her work with inheritors.
[23:30] Eighty-eight contributors participated in Peter Jaskiewicz’s book. The episode “Enabling Next Generation Legacies” distilled their perspectives.
[26:40] Ruth shares her surprise at how “uncomfortable” some of the rising gen questions can be as well as how surprised and delighted she was with Peter’s book recommendation.
[29:06] Ruth shares that relistening to “Balancing Leadership at Home and at Work” with Deena Chochinov kind of made her realise how much of a Deena fangirl she is!
[31:48] Steve shares the note he put in bold from this episode and why he thinks every advisor needs to do the same.
[33:14] People need to be heard, and leading with relationship will get you further than your expertise ever could.
[34:42] Ruth closes out the episode by giving a shout-out to the unsung hero of the podcast, Christopher Rogers! As well as the upcoming FEC symposiums in May 2023.
[36:10] Steve and Ruth share their reading recommendations and sign off on 2022.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
“The Quest For Legitimacy” — Dr. Weiner
“Portraits Of Pioneering Women Leading Wealthy Families” — Amy Hart Klyne
“Family Champions and Champion Families” — Joshua Nacht
“Inheritance Styles: A Road Map for the Rising Generation” — Robin Catlin
“Enabling Next Generation Legacies” — Peter Jaskiewicz
“Balancing Leadership at Home and Work” — Deena Chochinov
Family Business Symposium 2023
Ruth and Steve’s reading recommendations:
The 6 Types of Working Genius: A Better Way to Understand Your Gifts, Your Frustrations, and Your Team, by Patrick M. Lencioni
Making Questions Work: A Guide to How and What to Ask for Facilitators, Consultants, Managers, Coaches, and Educators, by Dorothy Strachan
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Dr. Jamie Weiner, author of the recent book, The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World. They discuss the challenges faced by rising generation members of enterprising families and how we as FEAs can better support our family clients by shedding light on these challenges, which are often invisible to their parents.
Guest bio
Dr. Jamie Weiner
Dr. Weiner is a clinical psychologist with over 40 years of experience. In addition to his work with individuals and families, he successfully designed structured programs and systems to address the broad range of challenges people face and is credited with delivering over 100 lectures and workshops. He also has a Certificate in Family Business Advising and Family Wealth Advising from the Family Firm Institute and is the co-author of The Legacy Conversation: the missing gem in wealth planning.
You can find out more about Dr. Jamie Weiner on LinkedIn and the Inheriting Wisdom website.
Key Takeaways
[:26] Steve Legler, your host for this episode, welcomes Dr. Jamie Weiner and asks him to share a little bit about how he started working on the idea of legitimacy.
[5:17] Dr. Weiner shares how the interview process for his most recent book went and how his reputation enabled a long list of warm introductions.
[6:55] From a bunch of interviews to a university research project, Dr. Weiner shares how he met Frank Barbera in an elevator.
[8:00] An econ-sociological analysis of the data uncovered a four-phase journey — or Quest — that is universal to all rising gen members: awareness, tug-of-war, exploration, and taking ownership of your life.
[10:59] The non-linear nature of the phases, as explained by Dr. Weiner.
[12:51] How can advisors use the information in the book to better reach the rising gen? Dr. Weiner shares the two things the “now” generation doesn’t understand.
[16:33] Dr. Weiner shares a butterfly story as an allegory for harming while trying to help.
[18:43] Affluenza as a damaging concept.
[22:29] The true stories that populate the book find a way to speak to everyone, even J. Hughes!
[26:00] Creating opportunities to have discussions is a critical part of the advisory service — courage also!
[29:10] Dr. Jamie shares his book recommendation as well as his advice for advisors.
[30:58] Steve thanks Dr. Jamie Weiner for coming on the show to share so much insight with the audience.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Inheriting Wisdom
The Quest For Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World, by Jamie Weiner
Reading recommendations:
Man’s Search For Meaning, by Viktor E. Frankl
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Professor Peter Jaskiewicz about the book, Enabling Next Generation Legacies: 35 Questions that Next Generation Members in Enterprising Families Ask.
They discuss the fact that the rising generation in many family enterprises gets neglected for too long, even though they are the ones who are the key to sustaining the family's legacy. They also talk about ways that FEAs can use the book when working with family clients to help initiate important family discussions.
Guest bio
Peter Jaskiewicz
Professor Peter Jaskiewicz is the University Research Chair in Enduring Entrepreneurship at the Telfer School of Management at the University of Ottawa. He conducts quantitative and qualitative research on entrepreneurship and family business. His current research focuses on antecedents of transgenerational entrepreneurship and corporate reputation in family and founder firms. He is also an Advisory Board member at Venture for Canada.
You can find out more about Peter on the Telfer School of Management at the University of Ottawa website and follow him on Twitter @peterjask.
Key Takeaways
[0:26] Steve Legler, your host for this episode, welcomes Peter Jaskiewicz and asks him to share a little bit about how he constructed his latest book.
[4:08] Peter shares what four categories came to the fore when organizing the questions next-generation members had submitted for the book.
[7:30] From 35 questions to more than 35 answers, Peter shares the process of getting academics and Laypeople to participate in the book.
[9:58] Peter explains how this book can best be used by advisors and why it helps to normalize questions.
[16:05] The independent third party is one way of introducing and tackling tough subjects, Peter shares an anonymous example.
[19:44] Peter speaks on what legacy means and how his work touches on the relationships between founders and next generations and the process of rejuvenation.
[23:49] Peter touches on the primary focus of the Family Enterprise Legacy Institute.
[26:00] The feedback for the book is threefold. Peter explains how endorsements drive positive results. He shares what question from the book he found most interesting.
[30:24] Peter shares his book recommendations as well as his one piece of advice from an advisor to other advisors.
[33:30] Steve thanks Peter for coming on the show to share so much of his expertise with the audience.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Enabling Next Generation Legacies: 35 Questions that Next Generation Members in Enterprising Families Ask, by Peter Jaskiewicz and Sabine Rau
Family Enterprise Legacy Institute
Peter’s reading recommendations:
Hector and the Search for Happiness, by François Lelord
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Ruth Steverlynck sits down with Deena Chochinov to talk about her new book, Home Work How to be a Leader in the Boardroom and the Living Room. Deena shares insights and tools from her work that are particularly relevant to advisors working with family enterprises.
Guest bio
Deena Chochinov is a Registered Clinical Counsellor with a private practice in Vancouver since 2000. She has a Master’s in Counselling Psychology from the University of Manitoba and a Post-Master’s in Family Therapy from the University of Pennsylvania and the Philadelphia Child Guidance Clinic. Deena is also a Family Enterprise Advisor, certified by the Institute of Family Enterprise Advisors, and a member of the BC-OD Network.
You can find out more about Deena on her website.
Key Takeaways
[:26] Ruth Steverlynck welcomes Deena Chochinov and asks her to share a little about herself, even though she may need no introduction for most listeners!
[2:34] Deena shares how she decided to write the book HomeWork, despite already wearing three different hats, why add a fourth?
[4:25] What Deena has learned as a systems practitioner in family enterprise advising that she found imperative to share: a unifying antidote to divided business and personal identities.
[8:45] Integrated and whole leadership is a two-part subject to understand and master, Deena explains the “how” and the “what.”
[11:58] Leadership qualities Deena has identified to be essential over her 30-year career, through the lens of family advising.
[14:25] The “what” of leadership is well exemplified by a case study as shared by Deena in her book.
[16:31] Personal work and introspection can be scary, Deena explains why it is critical when working with families that have to navigate business and personal so intimately.
[21:16] Why is Deena sharing all of her secret tools and tips?
[23:24] We’re all in the relationship business. Deena touches on what this means to her as a family enterprise advisor.
[26:21] Where to get Deena’s book!
[27:13] Deena shares her book recommendations as well as her one piece of advice from an advisor to other advisors.
[32:25] Ruth thanks Deena for coming on the show to share her insight and wisdom with the audience.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
HomeWork: How to Be a Leader in the Boardroom and the Living Room, by Deena Chochinov
Deena’s reading recommendations:
High Conflict: Why We Get Trapped and How We Get Out, by Amanda Ripley
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Ruth Steverlynck sits down with Deena Chochinov to talk about her new book, Home Work How to be a Leader in the Boardroom and the Living Room. Deena shares insights and tools from her work that are particularly relevant to advisors working with family enterprises.
Guest bio
Deena Chochinov is a Registered Clinical Counsellor with a private practice in Vancouver since 2000. She has a Master’s in Counselling Psychology from the University of Manitoba and a Post-Master’s in Family Therapy from the University of Pennsylvania and the Philadelphia Child Guidance Clinic. Deena is also a Family Enterprise Advisor, certified by the Institute of Family Enterprise Advisors, and a member of the BC-OD Network.
You can find out more about Deena on her website.
Key Takeaways
[:26] Ruth Steverlynck welcomes Deena Chochinov and asks her to share a little about herself, even though she may need no introduction for most listeners!
[2:34] Deena shares how she decided to write the book HomeWork, despite already wearing three different hats, why add a fourth?
[4:25] What Deena has learned as a systems practitioner in family enterprise advising that she found imperative to share: a unifying antidote to divided business and personal identities.
[8:45] Integrated and whole leadership is a two-part subject to understand and master, Deena explains the “how” and the “what.”
[11:58] Leadership qualities Deena has identified to be essential over her 30-year career, through the lens of family advising.
[14:25] The “what” of leadership is well exemplified by a case study as shared by Deena in her book.
[16:31] Personal work and introspection can be scary, Deena explains why it is critical when working with families that have to navigate business and personal so intimately.
[21:16] Why is Deena sharing all of her secret tools and tips?
[23:24] We’re all in the relationship business. Deena touches on what this means to her as a family enterprise advisor.
[26:21] Where to get Deena’s book!
[27:13] Deena shares her book recommendations as well as her one piece of advice from an advisor to other advisors.
[32:25] Ruth thanks Deena for coming on the show to share her insight and wisdom with the audience.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
HomeWork: How to Be a Leader in the Boardroom and the Living Room, by Deena Chochinov
Deena’s reading recommendations:
High Conflict: Why We Get Trapped and How We Get Out, by Amanda Ripley
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Daniel Trimarchi from KPMG about the STEP Project Global Consortium and their recent report, The Regenerative Power of Family Businesses, which highlights the staying power of family enterprises and reveals the factors behind their lasting competitive advantage.
Guest bio
Daniel Trimarchi is the Director, Family Business Advisory Services as well as the Director of KPMG Enterprise Global Centre of Excellence for Family in Canada. He specialises in family governance and succession planning with business families of various sizes and complexities. Daniel has over 10 years of experience working in Canada, the UK, and Australia, providing consulting services, business strategy, and compliance services to the family business and family office market.
You can find out more about Daniel on the KPMG website.
Key Takeaways
[:26] Steve Legler is your host for this episode and welcomes Daniel Trimarchi and asks him to talk a little bit about the STEP project background before diving into the results of its most recent study.
[5:15] Daniel shares a little bit about the true breadth of this multi-country, multi-university study.
[7:01] The results were handled by KPMG so as to incorporate perspectives from the enterprising families, a secondary stage that lent depth to the results that followed.
[10:06] Daniel talks about how the team derived a formula for performance output with entrepreneurship as its first factor.
[13:49] The second part of the formula speaks to the importance of family control and influence; Daniel talks about the recently popularized concept of socio-emotional wealth.
[15:13] Daniel breaks down the performance types and the broad set of components they can fit into. He also explains how each factor would impact each type of performance in a 2x2 matrix.
[21:13] How does this all impact FEAs and advisors and how can they use the results of this study practically? Daniel talks about how the report has been used already as well as his own experience.
[25:57] The report included a Canada-specific analysis; Daniel shares a little bit on the specifics of this.
[28:04] Daniel shares his book recommendations as well as his one piece of advice from an advisor to other advisors.
[31:30] Steve thanks Daniel for coming on the show to share his expertise with the audience.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
STEP Project Global Consortium
STEP report: The Regenerative Power of Family Businesses: Transgenerational Entrepreneurship
Daniel’s reading recommendations:
Interdependent Wealth: How Family Systems Theory Illuminates Successful Intergenerational Wealth Transitions, by Steve Legler
Perpetuating the Family Business: 50 Lessons Learned From Long Lasting, Successful Families in Business, by John Ward
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Daniel Trimarchi from KPMG about the STEP Project Global Consortium and their recent report, The Regenerative Power of Family Businesses, which highlights the staying power of family enterprises and reveals the factors behind their lasting competitive advantage.
Guest bio
Daniel Trimarchi is the Director, Family Business Advisory Services as well as the Director of KPMG Enterprise Global Centre of Excellence for Family in Canada. He specialises in family governance and succession planning with business families of various sizes and complexities. Daniel has over 10 years of experience working in Canada, the UK, and Australia, providing consulting services, business strategy, and compliance services to the family business and family office market.
You can find out more about Daniel on the KPMG website.
Key Takeaways
[:26] Steve Legler is your host for this episode and welcomes Daniel Trimarchi and asks him to talk a little bit about the STEP project background before diving into the results of its most recent study.
[5:15] Daniel shares a little bit about the true breadth of this multi-country, multi-university study.
[7:01] The results were handled by KPMG so as to incorporate perspectives from the enterprising families, a secondary stage that lent depth to the results that followed.
[10:06] Daniel talks about how the team derived a formula for performance output with entrepreneurship as its first factor.
[13:49] The second part of the formula speaks to the importance of family control and influence; Daniel talks about the recently popularized concept of socio-emotional wealth.
[15:13] Daniel breaks down the performance types and the broad set of components they can fit into. He also explains how each factor would impact each type of performance in a 2x2 matrix.
[21:13] How does this all impact FEAs and advisors and how can they use the results of this study practically? Daniel talks about how the report has been used already as well as his own experience.
[25:57] The report included a Canada-specific analysis; Daniel shares a little bit on the specifics of this.
[28:04] Daniel shares his book recommendations as well as his one piece of advice from an advisor to other advisors.
[31:30] Steve thanks Daniel for coming on the show to share his expertise with the audience.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
STEP Project Global Consortium
STEP report: The Regenerative Power of Family Businesses: Transgenerational Entrepreneurship
Daniel’s reading recommendations:
Interdependent Wealth: How Family Systems Theory Illuminates Successful Intergenerational Wealth Transitions, by Steve Legler
Perpetuating the Family Business: 50 Lessons Learned From Long Lasting, Successful Families in Business, by John Ward
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Ruth Steverlynck sits down with Robin Catlin to discuss her white paper on the topic of different styles of inheritance and how advisors can enhance their understanding of the “experience of being an inheritor”. This can help bring awareness and dialogue to a way of relating to financial wealth that is not traditionally earned.
Guest bio
Robin Catlin is a Managing Director at the Center for Family Wealth at Merrill Lynch where she helps families navigate the complexities of wealth over multiple generations. She is passionate about helping families thrive in the context of wealth, focusing on human capital and family culture in relation to their financial capital.
You can find out more about Robin on her LinkedIn.
Key Takeaways
[:26] Ruth Steverlynck is your host for this episode and welcomes Robin Catlin and asks her to share a little bit about her background.
[3:43] When it comes to wealth, there is a lot of negative talk about inheritors. Robin is the author of a whitepaper on inheritance style and she shares the impetus for writing it.
[8:10] Robin shares a high-level overview of her paper before digging into the specifics.
[12:13] The challenges of being an inheritor are largely ignored, Robin shares her thoughts on why that is.
[15:29] Robin’s paper challenges a widely held belief among advisors; she talks about what it means for the rising generation.
[19:16] The title of the paper mentions inheritance style, three of them to be specific: Inheritors, Stewards, and Sojourners. Ruth had heard of the first two, but the last one was a surprise!
[26:41] Ruth brings the conversation to the five stages of wealth integration: Awakening, Confusion, Perspective, Learning, and Adaptive Integration. Robin explains what each of them entails.
[29:55] Robin explains how advisors can practically use the information in the whitepaper as well as a few more key takeaways.
[34:16] Robin shares her reading recommendation and advice for advisors.
[37:35] Ruth thanks Robin for coming on the show and sharing her insights and tips with listeners.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Robin’s reading recommendations:
The Cycle of the Gift: Family Wealth and Wisdom, co-authored by James E. Hughes Jr.
Language and the Pursuit of Leadership Excellence: How Extraordinary Leaders Build Relationships, Shape Culture and Drive Breakthrough Results, co-authored by the Chalmers Brothers
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Governance expert Matt Fullbrook speaks with host Steve Legler about the ways that family enterprises make decisions, whether informally or formally, and how there are so many ways that organizations can improve the ways that they set themselves up for success in an ever-changing world.
Guest bio
Matt Fullbrook is a board effectiveness researcher and consultant and is the manager of the David & Sharon Johnston Centre for Corporate Governance Innovation at the Rotman School of Management. Under his direction, the Rotman School has evolved into the central hub of governance research in Canada.
As an independent consultant, Matt has advised dozens of boards of directors as an educator, facilitator, and researcher, helping them to maximize their effectiveness through the development and implementation of valuable governance processes, policies, and structures.
You can find out more about Matt Fullbrook on LinkedIn.
Key Takeaways
[0:26] Steve Legler welcomes today’s guest, Matt Fullbrook — Manager of the David & Sharon Johnston Centre for Corporate Governance Innovation at the Rotman School of Management — and asks him to share a little about how the idea behind his most recent interview came about: “To Make Boards Work Better, Look to Family Enterprises?”
[1:45] Matt offers up his preferred definition of governance and highlights the words he specifically didn’t use in that definition. He touches on the advantages of creative and innovative freedom family enterprises benefit from in that regard.
[6:11] Counterprogramming is a tool Matt uses to give permission. He explains what this means as well as why sometimes exaggeration can work in your favor.
[9:16] Matt touches on some of the challenges executives face when it comes to how decisions are made in their enterprises and it’s got more to do with our workspaces and habits than we might think.
[10:41] Either new generations are more flexible or they’re being better prepared for leadership, Matt shares his thoughts on the new workforce when it comes to governance.
[13:52] Matt speaks about the inclusion aspects of decision-making and the need to try many different configurations in order to optimize the inclusion of many different perspectives.
[17:44] Matt’s thoughts on the Chair and their role in inclusivity as well as the natural tendencies of people pushing their agenda or needing to have information pulled from them.
[20:21] Setting up boards differently presents challenges because of the natural tendency of people to look for answers and conventions. Matt shares some of the ways he circumvents those in his own advisory practice.
[25:27] In cases where the client is looking for a technical “right” answer and there isn’t one, Matt offers that reframing the question might be the only solution.
[27:54] Generic tools make Matt nervous!
[29:40] Matt shares his advice for advisors and a book recommendation.
[34:30] Steve thanks Matt for joining us and sharing his knowledge and perspective on governance.
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast apps. Please remember to share this episode with family, friends and colleagues.
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
To Make Boards Work Better, Look to Family Enterprises?
Matt’s reading recommendation: Thing Explainer: Complicated Stuff in Simple Words, by Randall Munroe
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Ruth Steverlynck sits down with Amy Hart Clyne, co-author of Finding Her Voice And Creating A Legacy, to learn more about the genesis of this research and delve into the stories of these amazing women. Amongst what is shared are some key takeaways for advisors working with or seeking to work with women in family enterprises and women leading wealthy families.
Guest bio
Amy Hart Clyne, CFP® is Chief Knowledge & Learning Officer at Pitcairn. She has dedicated more than 30 years of her financial services career to helping prosperous families fulfill the promise and potential of their legacies and achieve wealth momentum. As an expert in private wealth management, Amy has spent her career translating the needs and desires of ultra-wealthy families and their advisors into practical insights and solutions-based experiences that educate, excite, and engage.
Amy has an MBA in Marketing from Columbia Business School, Columbia University, and a BA in International Relations from Colgate University. She has earned the Certified Financial Planner™ (CFP®) designation as well as the Family Business Advisor certification from the Family Firm Institute.
You can find out more about Amy Hart Clyne on her LinkedIn.
Key Takeaways
[0:26] Ruth Steverlynck welcomes today’s guest, Amy Hart Clyne — Chief Knowledge and Learning Officer with Pitcairn in New York — and asks her to share a little bit about the genesis of her latest book: Finding Her Voice And Creating A Legacy.
[4:59] Amy shares the methodology she and David Jaffe used to select the women to be interviewed in the context of the book. She also talks about some surprising findings they made along the way.
[6:36] Amy talks about how the title is reflective of the two most important themes distilled from the interviews with these women of wealth both in the inherited and new wealth categories.
[9:47] Roles and outdated stereotypes are beginning to fade in society at large, but Amy shares how this phenomenon is strangely slower to reach families of wealth.
[12:08] Widowhood is rarely talked about, but Amy’s book dedicates an entire chapter to the subject and its ramifications. She shares some specifics as well as a story that she heard from women of wealth on this quasi-taboo subject.
[17:38] Amy shares two distinct stories from the book that illustrate the importance of relationship building. One woman called herself the force multiplier in a blended family and the other became the driving force in fostering unity in her family.
[24:17] An entire chapter is dedicated to the role of advisors, Amy shares her perspective on how advisors can better serve women of wealth as well as some pitfalls to avoid. She also touches on what she means by legacy mindset when it comes to widowhood.
[29:19] Amy shares her advice for advisors as well as her reading recommendations.
[34:30] Ruth thanks Amy for joining us and sharing these nuggets from her research!
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts or any other podcast app. Please remember to share this episode with family, friends and colleagues.
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Pitcairn
Finding Her Voice and Creating a Legacy: Portraits of Pioneering Women Leading Wealthy Families, by Amy Hart Clyne and Dennis T. Jaffe
Amy’s reading recommendation: Think Again: The Power of Knowing What You don’t Know, by Adam Grant
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Ruth Steverlynck sits down with Jane Flanagan, author of a recent white paper capturing interviews with over 30 former CEOs of family offices to distil key lessons learned that are applicable across all domains of a family enterprise.
Guest bio
Jane Flanagan is a Senior Vice President and serves as Director of Family Office Consulting in the Global Family and Private Investment Offices Practice at Northern Trust Corporation in the U.S. She and her team serve some of the world’s most prominent families to educate them about their options and support them in finding their best way forward.
Jane has been working with and learning from family leaders and family office executives for her entire career. She has interviewed hundreds of families to document best practices in areas such as family communication, strategies to engage rising generations, family office service delivery, compensation, and more.
Before joining Northern Trust, Jane was a Managing Director with Family Office Exchange in Chicago for 26 years.
You can find out more about Jane Flanagan on Northern Trust Corporation and her LinkedIn.
Key Takeaways
[0:26] Ruth Steverlynck, the host, introduces and welcomes Jane Flanagan. The subject for this episode is a Northern Trust whitepaper Jane has released, “Succession Stories: Lessons learned from former family office CEOs.”
[2:11] Ruth has shared the whitepaper with a couple of family office CEOs. One said it was one of the best papers they had ever read in the family office space! Today’s episode is important for the family office community.
[3:30] Jane learned from Northern Trusts’ 2020 Family Office Benchmarking Survey that nearly two-thirds of the participants said they would soon experience a succession in the family, family office, operating business, or within the trustees. Jane searched for resources to help these leaders to prepare but didn’t find anything written.
[4:20] Jane reached out to former family office CEOs to see if they would share their succession stories. Everyone said, Yes! The paper is a result of the generosity of 32 former family office CEOs whom she interviewed. Most of the former CEOs Jane interviewed were non-family member professionals; a few were family member family office CEOs.
[5:17] The intention of the whitepaper is to share lessons learned and advice from CEOs who had lived through a succession. Succession is a normal part of every family’s experience but it’s scary to think of life without that trusted person. Many people put off the succession conversation; this paper provides a way to start that conversation.
[6:22] Ruth is struck by the usability of the whitepaper. It’s easy to read!
[6:59] As Jane interviewed the former CEOs she learned that succession changes the way you see things, especially those of the next generation. One CEO may be replaced by multiple people. It’s more than talent.
[9:44] How does a family manage the emotional aspect of a family office CEO succession? “Letting go” is the big challenge. A CEO needs to let go of the office and help the family let go of the CEO. The CEO must take the time to plan for what’s next for themselves, for the board, the staff, and the family.
[12:54] The thing CEOs said that made the biggest difference in succession planning was being aware that the departing leader sets the tone for the entire process. CEOs need to show confidence in the team, in the family’s readiness to navigate the transition, and in the future, combined with transparent communication about the plan for the succession process.
[13:44] Framing the process from the beginning, acknowledging that it can be bumpy and require a little bit of extra patience from everyone, helps manage the family’s expectations. Jane cites Life Is in the Transitions, by Bruce Feiler, which explores three phases of transitions. It’s helpful to have a transparent communication plan to think through the timing.
[16:59] Jane describes how a family office relates to a family business and believes that family office succession principles apply equally to family businesses.
[17:51] As an advisor, be ready to welcome the CEO successor with open arms. New leaders bring a fresh perspective and are always looking for ways to add value, especially in their first 90 days or six months.
[19:03] The mandate and role of the successor CEO may be very different from those of the incumbent CEO, due to how the family and the business have grown and changed. Of the CEOs interviewed, 58% of them said at the same time there was a generational transition. Successor CEOs may need different skills. The family chooses the successor CEO.
[22:08] Jane says we could study this topic for the rest of our lives and never finish! More study is needed on successor CEOs and Trustees. There is a lot of work being done now on preparing the next generation to lead.
[24:10] Jane comments on the succession of knowledge, information, and relationships. The CEOs interviewed said they should have taken more time to prepare and done more to communicate with people sooner; you can never start too soon.
[25:49] For additional study, Jane suggests the links page at the back of the whitepaper (see link below). One book she particularly recommends is Designing Your Life: How to Build a Well-Lived, Joyful Life, by Bill Burnett and Dave Evans. It’s a good book for anyone from a college graduate to a transitioning CEO.
[27:23] Jane’s advice from an advisor to other advisors and her two book recommendations!
[30:38] Ruth thanks Jane for joining us and sharing these nuggets from her research!
If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on Spotify, Apple Podcasts, or any other podcast app. Please remember to share this episode with family, friends, and colleagues.
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
“Succession Stories: Lessons learned from former family office CEOs”
Life Is in the Transitions: Mastering Change at Any Age, by Bruce Feiler
Designing Your Life: How to Build a Well-Lived, Joyful Life, by Bill Burnett and Dave Evans
Wealth of Wisdom: The Top 50 Questions Wealthy Families Ask, by Tom McCullough and Keith Whitaker
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Dr. Joshua Nacht, author of Family Champions and Champion Families, about how FEAs can identify and support the champions who are part of many of their client families. These champions often have less obvious roles in the business circle but provide important leadership in the family and ownership circles, and as advisors we can become important resources to them.
Guest bio
Joshua Nacht, Ph.D., is a senior consultant with The Family Business Consulting Group and works with business families to help them become more intentional and organized to achieve their goals. He’s adept at working with multigenerational families to integrate their diverse perspectives and create structured plans for continuity.
Joshua is the author of the book Family Champions and Champion Families: Developing Family Leaders to Sustain the Family Enterprise. The book is a follow-up to his Ph.D. dissertation on the subject, which he did under Dennis Jaffe, who was our guest on Episode 11!
You can find out more about Joshua Nacht on The Family Business Consulting Group and his LinkedIn.
Key Takeaways
[0:26] Steve Legler welcomes Joshua Nacht. The subject for this episode is family champions. Joshua took his Ph.D. dissertation and wrote it into a book.
[2:05] The concept of the family champion came out of research Joshua did for Dennis Jaffe. Many people Joshua interviewed played notable leadership roles in their family enterprises without working in them. They were involved in governance and engaged in helping their family informally.
[3:47] When Joshua dug deeper, he came up with the idea of a book on family champions. He created his dissertation research planning to share it as a book for a wide audience. Joshua found tangible energy around the discussion about family champions. He would like the term family champion to become part of the family enterprise vocabulary.
[6:33] People leading a business don’t have the bandwidth to organize and lead the family. Joshua has met many family champions who informally organize and lead the family ownership group. Their leadership comes from their engagement and actions. The family champion role changes with the growth of the enterprise.
[11:09] The family champion is not an authoritative leader. A family champion emerges as somebody steps up to fill a need. Joshua shares four catalysts of family champions.
[14:02] The family champion is not always an individual. Sometimes a shared role works better. It could be a spouse pair, siblings or cousins.
[15:43] The more the family champion is supported by the business leadership, the more successful they can be. Effective leadership in the family ownership group is as important as effective leadership in the business. Most family businesses run into problems because of the family, not the business.
[19:25] Joshua discusses the governance forum; how the ownership council, the family and the board of directors of the business work together. The family champion supports effective governance by helping the ownership council and family to stay within their boundaries.
[23:28] Governance structure may evolve as conditions change. Family champions can help create the governance structure to meet the needs of the family and the ownership council.
[24:41] Joshua worked to build a family champion definition, characteristics, vocabulary and framework that can be adapted for each unique family.
[26:51] Dennis Jaffe suggested that Joshua should not begin research with preconceived notions, but do research into what people are doing well in common. The things Joshua found emerged as the cornerstones of the book.
[30:17] Joshua shares his book recommendation as well as a piece of advice from an advisor to other advisors.
[34:06] Steve thanks listeners for taking the time to tune in and invites them to subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Family Champions and Champion Families: Developing Family Leaders to Sustain the Family Enterprise, by Joshua Nacht
The Art of Gathering: How We Meet and Why It Matters, by Priya Parker
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Steve Legler speaks with Nicole Garton, FEA, about her recent book, Harnessing Conflict: How Family Businesses Can Survive and Thrive. They talk about the well-publicized Stronach and Rogers cases, and how and why FEAs can help their family clients get out in front of conflict while it is still manageable and use it to make their families even stronger as a result.
Guest bio
Nicole Garton, B.A., LL.B, LL.M., C.Med, FEA, TEP, is a lawyer, mediator and parenting coordinator of family law, wills and estates matters.
In her dispute resolution practice, Nicole focuses on the restructuring of families resulting from separation and divorce and wills and estate challenges. In her solicitor’s practice, Nicole advises on all aspects of estate planning and administration, including the preparation of wills, powers of attorney, representation agreements and trusts, as well as applications for probate and letters of administration.
You can find out more about Nicole Garton on the BC Heritage Law website and her LinkedIn.
Key Takeaways
[0:26] Steve welcomes Nicole Gartner and asks her to share a little bit about her current research interest and the family that has been making the news rounds.
[4:10] The Goldilocks spot of conflict management is real and can yield great benefits, Nicole shares how FEAs are an integral part of walking the line between destructive and productive conflict.
[6:14] Nicole shares some constructive tips to help FEAs better help navigate the stages of conflict with the families they serve.
[8:56] Getting family members to keep talking is key to making sure conflicts don’t fester. Nicole talks about integrative and distributive conflict and shares some governance best practices.
[12:28] Getting back to basics, Nicole shares one of the more important aspects of conflict negotiation as well as how to integrate game theory into your family advisory practice to reframe the idea of failure.
[16:16] The three-circle model points us in the right direction; serving the whole family system is key.
[17:02] Nicole shares her experience reading through the affidavits from the Stronach family trials.
[21:26] Finding resolution often passes through the idea of finding a win for everyone, Nicole shares how this relates to the Rogers dispute.
[25:27] Nicole shares an entertaining piece of the Rogers litigation.
[27:44] Avoiding airing your laundry in public is about doing work upfront. FEAs need to learn to recognise when conflict is brewing and what experts to call in when they do.
[30:31] Rogers mediation dispute fun fact!
[31:47] Nicole shares her book recommendation as well as a piece of advice from an advisor to other advisors.
[34:00] Steve thanks listeners for taking time to tune in, and invites them to subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Harnessing Conflict: How Family Businesses Can Survive and Thrive by Nicole Garton
Getting to Yes: Negotiating Agreement Without Giving In by Roger Fisher, William L. Ury and Bruce Patton
The Infinite Game by Simon Sinek
Four Thousand Weeks: Time Management for Mortals by Oliver Burkeman
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
In this special episode, host Steve Legler speaks with Olivier de Richoufftz, General Secretary of Family Enterprise Foundation about their latest continuity research report, Who are the Guardians of Family Legacy?
Guest bio
Olivier de Richoufftz With over a decade of experience with organizations supporting business families as well as growing and solidifying their networks, Olivier de Richoufftz is well-seasoned in the important issues business families face from generation to generation. An MBA from HEC Paris, paired with his extensive experience in marketing, sales, and development for organizations such as Euro Disney Resort and France Tourism, bring strategic perspective and innovation to Family Enterprise Foundation.
You can find out more about Olivier de Richoufftz on the Family Enterprise Foundation website and LinkedIn.
Key Takeaways
[0:26] Steve Legler welcomes listeners to a special edition of the podcast dedicated to an overview of the results of the recent comprehensive survey completed by the Family Enterprise Foundation — Who Are The Guardians of Family Legacy? — on the landscape of Canadian family enterprises.
[1:20] Steve launches the discussion by asking Olivier de Richoufftz a little bit about the Foundation’s origins. Olivier touches on why the comprehensive survey came at a very opportune time, and some of the important coming changes in Canada’s Family enterprises it revealed.
[3:22] Olivier shares the impetus behind launching this most recent second part of the survey as well as some of the more interesting highlights from the results.
[5:43] Aside from the family business spirit being very strong among the rising generation, Olivier touches on some of the really interesting findings from this research as it relates to the different ways the coming generation and the leading generations view the next great transition.
[8:15] Ownership versus leadership is expected to be a key element of discussion as the generational shift continues over the next few years; Olivier explains why this may be.
[10:07] Olivier talks about how the survey data was compiled and why the foundation chose to include generational leaders and experts to help make it an interesting reading piece.
[11:54] Finding common ground is key to generational transfers, Olivier speaks to some of what the survey has to say when it comes to Canadian enterprising families.
[14:22] Olivier talks about one thing they noticed stood out in the survey. He also speaks to what the future of research is pointing towards at the Family Enterprise Foundation.
[17:53] Steve thanks Olivier de Richoufftz and listeners for taking time to tune in, and invites them to subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Family Enterprise Foundation
Ready, Willing and Interested — Or Not? (Part one of the comprehensive survey)
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Description
Dans cet épisode hors du commun, votre hôte Steve Legler discute avec Olivier de Richoufftz, secrétaire général de la Fondation des Familles Entrepreneuriales, au sujet des suites de leur plus récente recherche: Qui sont les Gardiens de l’Héritage Familial?
Bio
Olivier de Richoufftz compte plus d'une décennie d’expérience auprès d’organisations soutenant les familles d’affaires ainsi que dans la croissance et la consolidation de leurs réseaux. Sa connaissance des enjeux importants auxquels les familles d’affaires sont confrontées de génération en génération se combine à un MBA d’HEC Paris et à sa vaste expérience en marketing, vente et développement. Il a travaillé pour des organisations telles qu’Euro Disney Resort et France Tourisme, et ainsi apporte une perspective stratégique et innovante à la Fondation des Familles Entrepreneuriales.
Pour plus d’informations au sujet d’Olivier de Richoufftz, visitez le site web de la Fondation des Familles Entrepreneuriales et LinkedIn.
Notes
[0:26] Steve Legler vous accueille à une édition spéciale du balado! Olivier de Richoufftz, secrétaire général de la Fondation des Familles Entrepreneuriales se joint à Steve pour discuter des résultats de leur sondage compréhensif sur les entreprises familiales canadiennes.
[1:25] Olivier offre un bref survol de l’historique de la fondation et les ramifications positives d’être aujourd’hui chapeauté par Family Enterprise Canada.
[3:20] L’objectif d’une telle étude est simple, les transitions intergénérationnelles vont s’accélérer au courant de la prochaine décennie. Olivier explique certaines des visées plus précises de ce sondage incluant les questions liées aux impacts de la COVID sur les intentions de départ.
[5:29] La première partie de cette enquête a été publiée en octobre dernier et a soulevé quelques inquiétudes face aux transitions à venir. Olivier explique certaines d’entre elles ainsi que de quelle manière la seconde partie de cette étude y répond.
[7:01] « Qui Seront les Gardiens de l’Héritage Familial ? » est un titre provocateur, Olivier parle de ce choix et de la façon dont la génération montante entrevoit son futur à la barre.
[9:13] Olivier parle plus en détail de certains besoins qui ont été exprimés par les générations montantes et sortantes entre autres à en ce qui à trait à la fierté et à la confiance.
[12:17] Les résultats ont été validés par la communauté via la firme KPMG, Olivier explique ce choix ainsi que la nature à la fois quantitative et qualitative de cette recherche et de la posture unique que ces données qualitatives ont permi de faire ressortir chez les participants.
[16:08] Il n’est jamais trop tôt, ou trop tard, pour nourrir des discussions sur la succession! Olivier explique l’impact que peut avoir la relation intergénérationnelle sur le bien commun familial.
[18:18] Olivier partage les aspirations futures de la fondation en ce qui à trait au suivi dans le cadre de cette recherche.
[19:29] Steve remercie Olivier ainsi que l’auditoire et invite tout un chacun à s’abonner à ce balado pour ne rien manquer des épisodes futurs.
Partagez vos idées avec nous au fea@familyenterprise.ca
Mentionné durant l’épisode
Le balado Let’s Talk Family Enterprise est présenté par Family Enterprise Canada.
Fondation des Familles Entrepreneuriales
Ready, Willing and Interested — Or Not? (Première partie du sondage compréhensif)
Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Ruth Steverlynck sits down with Christian Stewart, Founder and Principal of Family Legacy Asia, and 2021 recipient of the Family Firm Institute's Interdisciplinary Award, to discuss the characteristics and merits of working in collaborative advisory teams.
Guest bio
Christian Stewart founded Family Legacy Asia in July 2008 to help Asian families preserve their family wealth for generations by providing them with independent and objective advice on effective family governance practices.
Christian works with enterprising families as a process consultant, coach, and family meeting facilitator. He helps families to form their own family council, family constitution, and family policies, often in the context of planning for succession. Christian also advises a small number of families on family learning & development and acts as a chief learning officer.
You can find out more about Christian Stewart on the Family Legacy Asia website and LinkedIn.
Key Takeaways
[:26] Ruth Stevelynck welcomes Christian Stewart, Founder of Family Legacy Asia, and asks him to talk a little bit about his career trajectory and what brought him to family enterprise advising.
[8:17] Christian was honored with the Family Firm Institute Interdisciplinary Award for 2021, he touches on what interdisciplinarity truly is as opposed to multidisciplinarity.
[12:19] Working with advisory teams is a part of what Christian does; he delves a little deeper into the three different aspects of interdisciplinarity when it comes to actually advising clients.
[18:14] External resources are an integral part of how an interdisciplinary team optimally functions, Christian shares an example of how this can manifest.
[20:25] Christian shares his thoughts and tips on how to best build a collaborative team when one is the newest addition to a team.
[26:45] Fostering team cohesiveness requires intentionality, Christian shares his expertise and best practices around building collaboration.
[29:00] Family enterprises that don’t have a cohesive, intentional approach — i.e. siloed approaches — face some risks, Christian explains how and shares a few examples.
[35:44] Christian shares his one piece of advice as an advisor for other advisors as well as his book recommendations.
[43:26] Ruth thanks listeners for taking time to tune in, and invites them to subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Interdisciplinary Award — FFI
Tara Brach
More Time to Think: A Way of Being in the World, by Nancy Kline
The Different Drum: Community Making and Peace, by M. Scott Peck, M.D.
Healing Collective Trauma: A Process for Integrating Our Intergenerational and Cultural Wounds, by Thomas Hübl
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
In a departure from the usual format, this episode features both of our regular hosts, Ruth Steverlynck and Steve Legler, acting as both host and guest.
They decided to look back at some of their favourite episodes from 2021 and discuss a few of their greatest takeaways in the hopes of bringing back good memories and encouraging listeners to go check out episodes they may have missed along the way.
Guest bio
Steve Legler was born into a family business, and as the only son of an immigrant entrepreneur, was expected to follow in Dad’s footsteps. Along the way, he also married into a business family and has seen some of the communications challenges that they have faced over the years.
He now realizes more than ever how important good communication is for families who want their legacy to continue, as it is transferred to future generations.
As a supplement to his life-long career in a family business and an MBA, In 2013, he enrolled in the Family Enterprise Advisor program, which is geared mostly to wealth managers, accountants, and insurance folks who deal with business families on a regular basis. He immediately felt more of an affinity with those at the front of the room, who were teaching the classes; people who work as family business facilitators, trusted advisors, coaches, and mediators.
You can find out more about Steve on his website and LinkedIn.
Ruth Stevelynck’s great passion is working with families to help navigate this complexity — planning for the human/relational aspects of wealth transition: fostering positive communication, managing upsets, and developing key competencies needed to realize aspirations.
With an international background in Law, Dispute Resolution, Education and Governance, Ruth recognizes that no single approach works for all, so she draws upon her diverse experience and network of resources.
Her particular area of expertise is the arena of inherited wealth. She primarily consults to Family Offices and/or families whose wealth sits in Trust.
You can find out more about Ruth on Your Family Enterprise Website and LinkedIn.
Key Takeaways
[0:26] Ruth and Steve will be each other's host and guest, covering the past 30 episodes and providing an overview of all the information that was shared this past year.
[2:14] Dr. Moira Somers joined the podcast on an episode to talk about how the medical profession and family advisors play a similar role; Steve and Ruth touch on the curse of knowledge and the importance of connection.
[6:20] Dr. Lee Hausner had a two-part episode series where she asked that the questions be crowd-sourced! From success to significance, and not letting the family business be the family welfare state, Ruth and Steve share how impactful this interview was.
[11:24] Dr. Josh Baron talked about the four rooms model and the five rights of owners. The hosts share highlights from this interview and their appreciation of the fact that there are now actual models for reference.
[16:05] Scott Peppet: from law professor to Buddhist priest. Ruth shares her perspective on how the slightly provocative interview with him impacted the way she perceives family offices.
[21:38] David C. Bentall talked about learning patience and EQ. Ruth touches on honesty and the need to learn and reflect on your mistakes.
[27:34] Melissa Mitchell-Blitch shared her experience on doing exactly what the client wanted and how it can end up harming the family. Steve and Ruth reflect on the importance of finding a way to put relationships first and on the practical tools they took away from this episode.
[31:12] Ruth and Steve share their most impactful reads and advice for advisors.
[36:13] Steve and Ruth thank listeners for taking time to tune in, and invite them to subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Dr. Moira Somers: “Advice That Sticks” — released on September 13, 2021
Dr. Lee Hausner: “In Conversation with Dr. Lee Hausner,” Parts 1 and 2 — released on March 8 and April 12, 2021
Dr. Josh Baron: “Family Business Ownership: Four Rooms and Five Rights” — released on June 7, 2021
Scott Peppet: “The Family-Focused Office: Not a Family Office” — released on July 12, 2021
David C. Bentall: “Dear Younger Me” — released on August 9, 2021
Melissa Mitchell-Blitch: “Helping Families Thrive When Business is Personal” — released on January 11, 2021
Books:
Range: Why Generalists Triumph in a Specialized World, by David Epstein
Solving Tough Problems: An Open Way of Talking, Listening, and Creating New Realities, by Adam Kahane
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Steve Legler speaks with Dr. Jim Grubman about everything from "Wealth 3.0" and the Ten Domains of Family Wealth to the importance of having knowledge, skills and the ability to learn to play well with others.
Guest bio
Dr. Jim Grubman is an internationally recognized consultant to families of wealth, family enterprises and the advisors who serve them. His work with clients at many levels of affluence — from the “millionaire next door” to The Forbes 400 — has earned him a global reputation for thought leadership within the field. Whether facilitating a family meeting or training advisors in the complexities of wealth, he draws on his deep knowledge of psychology, family dynamics and family business, with specialty interests in trusts and estates law and family governance. His goal: to help integrate life and wealth for the benefit of the family and society.
You can find out more about Dr. James Grubman on his website and his LinkedIn.
Key Takeaways
[0:26] Steve introduces today’s guest and invites him to share a bit more about the 10 Domains of Family Wealth from Ultra High Networth Institute as well as how “playing well with others” ties into it.
[4:12] Jim speaks to how the 10 Domains of Family Wealth have helped evolve the way we think about wealth management from an initial — and exclusive — focus on money.
[6:41] What is wealth 3.0? Jim gives us the “Reader’s Digest” version, from trying to avoid the “shirtsleeves to shirtsleeves” to the 70% rule on wealth transfer and what it means for the future of advising.
[13:49] On top of demographics as a factor in how advisors and families evolve, Jim touches on the many influences at play, and what is still missing in the field for it to be truly recognized.
[19:03] Jim explains what he means when he says that for a strong field in the future, advisors will need to be conversant if not fluent.
[24:00] Having everyone — from the head of the family to the siblings — around the table and educated on the family dynamics and plans may be the surest way into wealth 3.0, Jim explains.
[29:00] Jim’s reading recommendation as well as his advice for advisors.
[32:41] Steve thanks Dr. Grubman for joining the podcast and sharing his experience and expertise with the audience. Listeners, please subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Ultra High Net Worth Institute
Books:
Strangers in Paradise: How Families Adapt to Wealth Across Generations, by James Grubman Ph.D.
Cross Cultures: How Global Families Negotiate Change Across Generations, by Dennis T. Jaffe Ph.D., and James Grubman Ph.D.
The Moses of Rovno: The Stirring Story of Fritz Graebe, a German Christian Who Risked His Life to Lead Hundreds of Jews to Safety During the Holocaust, by Douglas K. Huneke
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Ruth Steverlynck sits down with Gaia Marchisio and Wendy Sage-Hayward to discuss their soon-to-be released book, Own It: How to Develop an Owner’s Mindset at Every Age, co-authored alongside Barbara Dartt. Wendy and Gaia share why they wrote this book, what readers will learn, who will most benefit from reading it, as well as key learnings they each had during its development.
Guest bio
Wendy Sage-Hayward is the co-founder of SAGE Leadership Advisers Inc., a Vancouver-based leadership coaching and consulting company. She has 20+ years of experience in rebuilding and strengthening leadership and family teams to help them function as effective stewards of their business and family enterprise. She specializes in the “tough” cases such as derailing executives and business families in high conflict. Wendy earned a Master’s degree in Counselling Psychology at the University of British Columbia.
You can find out more about Wendy Sage Hayward on the Sage Advisors website, the Family Business Consulting Group and her LinkedIn.
Gaia Marchisio is a tenured Associate Professor of Management at the Coles College of Business at Kennesaw State University (GA, USA), and Executive Director of the Cox Family Enterprise Center. Gaia brings a unique combination of knowledge and experience from the fields of strategic management, behavioral science and entrepreneurship to her work with family businesses, combined with a growing expertise in family dynamics and conflict management.
You can find out more about Gaia Marchisio on the Family Enterprise Foundation website and her LinkedIn.
Key Takeaways
[0:26] Ruth Steverlynck welcomes Wendy Sage-Hayward and Gaia Marchisio to the podcast to discuss their latest book, Own It! Both guests share their diverse backgrounds.
[5:38] Ruth shares an interesting road trip story that involves all of today’s guests. She asks Gaia and Wendy what their individual impetus for writing the book was.
[8:11] Wendy speaks to the things she wishes she’d known when she became an owner in her family business and all of the things she had to learn while unprepared.
[14:12] Gaia shares how, in light of her introduction story, she began to work and study in the field of getting next generations ready for taking over.
[16:48] When it comes to next generation successors, Gaia opens the conversation on the three common struggle categories the book tackles as well as where these difficulties originate and how to best manage them.
[21:49] This is a book about education and growth. Gaia touches on who she believes the primary audience to be.
[24:46] There are common blind spots when it comes to running a family enterprise. Wendy shares a few of them, why they tend to occur and how collective learning can help mitigate most of them.
[28:52] Reflecting on ownership and stewardship is critical. Wendy shares some of the most profound questions families need to answer in order to pursue generational success.
[31:46] Gaia talks about what writing this book has meant to her in terms of deepening her understanding of belief systems and the sharing mindset.
[36:00] Wendy developed tremendous respect for diversity and a profound understanding of how complex the concept of ownership really is.
[38:46] Gaia and Wendy each share their piece of advice for other advisors as well as their reading recommendations.
[48:08] Ruth thanks Wendy and Gaia for joining the podcast and sharing their experience and expertise with the audience. Listeners, please subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Books:
Own It!: How to Develop a Family Enterprise Owner's Mindset at Every Age, by Wendy Sage Hayward and Gaia Marchisio
Preparing Successors for Leadership: Another Kind of Hero, by Craig E. Aronoff and John Ward
The Voice of the Rising Generation: Family Wealth and Wisdom, by James E. Hughes Jr.
Boundaries in Human Relationships: How to Be Separate and Connected, by Anne Linden
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with guest John A. Warnick, founder and head of the Purposeful Planning Institute. Together they cover how the institute came into being, the importance of collaboration, the natural fit that many FEA's feel with that network and the future of the movement to more family-centric advice and planning.
Guest bio
John A. Warnick is the founder of the Purposeful Planning Institute and Family Wealth Transitions & Solutions.
He finds immense fulfillment in educating and training children, adolescents and emerging adults in financial literacy, philanthropic service and holistic family wealth principles. He is currently serving as co-editor of a book on best practices for trusts and is also working on two other books entitled, The Gift of You and The Purposeful Trust Handbook.
Mr. Warnick received a BA magna cum laude from Brigham Young University and his JD from George Washington University with honors.
You can find out more about John A. Warnick on the Purposeful Planning Institute website and on his LinkedIn.
Key Takeaways
[0:35] Steve Legler welcomes John A. Warnick and invites him to correct or add anything to his introduction.
[3:22] Mr. Warnick touches on how he came to land on the moniker “Purposeful Planning.” He shares how his views on family planning evolved and the importance of being more reflective for both clients and advisors.
[9:04] Walking the purposeful road was helped by quite a few mentors along the way, Mr. Warnick speaks to the foundational influences he’s benefited from and shares how he met James E. Hughes.
[16:48] The purposeful planning movement is progressing; John A. Warnick talks about how he sees the future taking shape collaboratively; Steve and John discuss multidisciplinary fluency.
[26:09] Mr. Warnick talks about the synergy between FEA, Family Enterprise Canada and PPI, and how this overlap is expanding the library of best practices.
[31:50] John A. Warnick shares his book recommendations as well as his one piece of advice from an advisor to other advisors.
[36:17] Steve thanks John for joining the podcast and sharing his experience and expertise with the audience. Listeners, please subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Family Enterprise Advisor designation (FEA)
James E. Hughes Jr.
Books:
Family Wealth — Keeping It in the Family: How Family Members and Their Advisers Preserve Human, Intellectual, and Financial Assets for Generations, by James E. Hughes Jr.
The 7 Habits of Highly Effective Families: Building a Beautiful Family Culture in a Turbulent World, by Steven R. Covey
Time to Think: Listening to Ignite the Human Mind, by Nancy Kline
More Time to Think: A Way of Being in the World, by Nancy Kline
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Dr. Moira Somers, author of the book, Advice That Sticks, to discuss the importance of not simply having the best solution for families that FEAs work with but taking the time to connect with clients so that they can increase the chances that clients will actually implement the ideas FEAs share with them.
Guest bio
Dr. Moira Somers is a neuropsychologist, professor, executive coach and author of the book, Advice That Sticks: How to give financial advice that people will follow. She is a leading practitioner in the field of financial psychology and financial change.
You can find out more about Dr. Moira Somers on the Money, Mind, & Meaning website and LinkedIn.
Key Takeaways
[0:35] Steve Legler welcomes Dr. Moira Somers, and invites her to share a little bit about her book, the main premise of which is “just telling people what to do isn’t enough.”
[2:55] Dr. Moira shares how the financial and medical worlds intersect in a surprising way: Two traits are required of their practitioners — both of which can thankfully be taught!
[3:42] Tailoring advice sometimes means being prepared to back off some of our ideas in favor of what the client needs. Dr. Somers explains why your “B team” advice is sometimes better than your “A team” advice.
[5:04] Dr. Moira speaks to the University programs currently undertaking research with financial clients as the subjects. She also touches on another similarity between the financial and medical fields: prevention.
[7:15] What is the F.A.C.T.S. Model? Dr. Somers explains what it is as well as the F.A.C.T.S. Paradigm, and the five psychological domains that influence follow-through.
[9:20] What are your clients ready to do and what is their level of motivation? The Readiness Assessment tool might be just the thing. Dr. Moira touches on the limitations of the K/Y/C questionnaires.
[12:57] Dr. Somers shares a bit of research: What percentage of your recommendations are actually being acted on? You’ll be surprised to hear that follow-through is actually statistically abnormal.
[13:59] A little tidbit for the stat nerds out there! What you do as an advisor counts for more of the variance than all client characteristics combined!
[15:50] The advisor (and medical!) field is composed of highly intelligent, confident people. Dr. Moira offers an Achilles’ heel all of us should mind as well as a few other reflexes we all should keep in check.
[20:18] On the importance of a feeling of safety when in an advisory relationship and how to build it. Steve offers the saying “They don’t care how much you know until they know how much you care.”
[22:45] During and immediately after big life changes is a critical time for advisors — important life changes go along with changes in identity, Dr. Somers shares how to bridge the gap.
[25:08] Technical skills can be learned, so too can personal skills! Dr. Moira emphasizes how every decision that we all make goes through the personal filter, and as such, addressing the personal filter may be the most important thing to do for your advice to land.
[27:17] What is the difference between an executive coach and a neuropsychologist?
[29:18] Dr. Somers shares her book recommendations — a two-for-one! — as well as her one piece of advice for advisors.
[32:29] Steve thanks Dr. Moira Somers for joining the podcast and sharing her experience and expertise with the audience. Listeners, please subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Family Enterprise Advisor designation (FEA)
Books:
Advice That Sticks: How To Give Financial Advice That People Will Follow, by Dr. Moira Somers
Ask: How To Relate To Anyone, by Dan Solin
Lost and Found: One Woman’s Story of Losing Her Money And Finding Her Life, by Geneen Roth
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
In this episode, Steve Legler speaks with David C. Bentall about David's latest book, Dear Younger Me: Wisdom for Family Enterprise Successors. They also discuss some of the traits that successors to family enterprises may want to develop and how FEAs might better "walk the walk" when working with enterprising family members.
Guest bio
David C. Bentall is the Founder and President of Next Step Advisors, based in Vancouver, BC, where he works with people from enterprising families in a variety of different capacities.
You can find out more about David C. Bentall on the Next Step website and LinkedIn.
Key Takeaways
[0:35] Steve Legler introduces David C. Bentall to the Let’s Talk Family Enterprise podcast. Steve and David met in 2013 when Steven taught the FEA program module, “Business Boards and Family Councils.” Steve invites David to discuss his latest book, Dear Younger Me: Wisdom for Family Enterprise Successors.
[1:50] After leading two back-to-back family meetings that didn’t go well, David sought answers. His book highlights key factors to ensuring better family meetings.
[5:38] All the traditional EQ traits are relevant for any business leader or aspiring leader who wants to be successful, but especially in the family enterprise. Family relationships are irreplaceable.
[8:24] David discovered that some leadership styles are not ideal for leading in a family enterprise. In his book, David points to certain people with leadership styles that apply well to a family business.
[10:53] David shares the single most damaging trait he had as a young family enterprise successor as well as the lessons he learned from it.
[13:24] In a family enterprise, successors can be very eager to get to the next step. David shares anecdotes that help highlight the idea that we ought to be grateful for the positions we have.
[17:35] Sometimes advisors think they are supposed to have all the answers. David shares some ways you can reframe questions and gain more information.
[20:26] David outlines the three truths that apply to almost all family enterprises transitioning from one generation to another.
[23:45] Fisk Johnson, CEO of SC Johnson, once said he knew there wasn’t going to be room for him in the company as long as his father was there. So he decided to go to school instead.
[28:05] David has been cultivating the trait of empathy. He shares why this is critical for family advisors, and how it has broadened his understanding of himself and others.
[30:37] David shares his book recommendations as well as his advice for advisors.
[34:30] Steve thanks David for joining the podcast and sharing his experience and expertise with the audience. Listeners, please subscribe!
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Family Enterprise Advisor designation (FEA)
Books:
Dear Younger Me: Wisdom for Family Enterprise Successors, by David C. Bentall
Deconstructing Conflict: Understanding Family Business, Shared Wealth and Power, by Doug Baumoel and Blair Trippe
Long Walk to Freedom: The Autobiography of Nelson Mandela, by Nelson Mandela
Fire Road: The Napalm Girl’s Journey through the Horrors of War to Faith, Forgiveness, and Peace, by Kim Phúc Phan Thi
More about Family Enterprise Canada
Family Enterprise Canada (FEC)
FEC on Facebook
FEC on Twitter
FEC on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
In this episode, Ruth Steverlynck sits down with guest Scott Peppet to explore why the traditional family office lens of managing financial capital and legal risk - whilst important - is not in service of the primary task of a family office: the family. Scott shares his thoughts on what a family-focused office looks, acts and feels like where the well-being of the family is front and centre. What he shares is applicable to all advisors who work with families of wealth irrespective of whether there is a family office.
Guest bio
Scott Peppet is the President of a single-family office and private trust company, an advisor to family members seeking a more authentic presence around wealth, a speaker and writer on family enterprise issues, a facilitator of difficult but generative conversations for business and family leaders, an expert on conflict and negotiation and a Zen priest.
You can find out more about Scott Peppet on his website.
Key Takeaways
[0:30] Ruth Steverlynck introduces Scott Peppet to the podcast and invites him to share a little bit about his background from being a lawyer, writing books and being an ordained Zen priest.
[6:40] What is a family-focused office, and how does it differ from a family office? Scott shares some pitfalls of having technical expertise while advising families.
[12:16] Are you in service of the family or are you in service of the wealth? Scott speaks to why a family-focused office is important.
[15:22] Outsourcing the mental and emotional well-being of a family may not be the right choice; Scott touches on what happens when an organization shifts to a family-focused mindset.
[16:52] Scott breaks down what a family-focused office looks like. He also touches on what a “wonder question” is and how a family-focused office might be able to tackle those.
[21:40] Scott talks about a little-discussed indicator of a family office and how he often sees fear in the organizations he visits.
[25:25] Scott shares what wealthy family members need more than anything — and rarely get from the world — which can shift their world from obligation to opportunity.
[30:30] Scott’s guiding beliefs come from multiple sources; he shares how “from obligation to opportunity” came to be and the impact it has had on his life and practice.
[36:13] The “to me” vs. “by me” mindsets and how this impacts family members.
[37:55] Ruth speaks to how helpful for her work Scott’s whitepapers have been; she invites him to share some of the other topics he writes about so other advisors can use his resources.
[42:20] Scott shares his reading suggestions and advice for advisors.
[44:18] Ruth thanks Scott for sharing so much of his expertise and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
Book:
The 15 Commitments of Conscious Leadership: A New Paradigm for Sustainable Success, by Jim Dethmer, Diana Chapman and Kaley Klemp
More about Family Enterprise Canada
Family Enterprise Canada
Family Enterprise Canada on LinkedIn
Family Enterprise Canada on Twitter
Family Enterprise Canada on Facebook
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.
Description
Host Steve Legler speaks with Dr. Josh Baron, co-author of HBR's Family Business Handbook about Family Business Ownership. Together they discuss the Four Rooms models, which nicely complements the Three Circle Model, as well as the Five Rights of Family Business Owners (Design, Decide, Value, Inform and Transfer).
Guest bio
Dr. Josh Baron is a co-founder and Partner at BanyanGlobal. For the last decade, he has worked closely with families who own assets together, such as operating companies, family foundations and family offices. He helps these families to define their purpose as owners and to establish the structures, strategies and skills they need to accomplish their goals. Josh is also an Adjunct Professor at Columbia Business School, where he teaches MBA courses on Family Business Management and Managing Conflict in Family Business. He also teaches in the Enterprising Families Executive Education Program.
You can find out more about Dr. Josh Baron on the BanyanGlobal website.
Key Takeaways
[0:30] Steve Legler introduces Dr. Josh Baron to the podcast and invites him to share a little bit on how he developed the Four Rooms model.
[2:30] Should the Four Rooms model be used with or instead of the Three Circles model? Dr. Baron talks about how to understand system dynamics.
[6:12] Family and family business dynamics differ greatly; Dr. Baron speaks to the function of doors as they encourage or limit access within a family business as well as the model as a pedagogical tool.
[9:10] Dr. Baron shares a professional anecdote where working with the Four Rooms helped organize and streamline operations. He also shares his tips on how to use this tool more efficiently.
[13:10] The distinction between “voice” and “vote” leads Dr. Baron to share some advice on how to navigate certain touchy situations in the Owner Room.
[14:55] After the “Three Circles” and the “Four Rooms”, we have the “Five Rights of Ownership”. Dr. Baron breaks down each of these rights and what they tangibly mean.
[20:00] Creating capital through communication is something Dr. Baron lives by. He shares his thoughts on finding the balance between privacy and inclusion.
[26:40] Power dynamics in owner’s groups can shift over time, Dr. Baron shares the story of “the kids” who grew into their ownership power in their 50s!
[31:47] Dr. Baron offers his book recommendations as well as advice for advisors.
[35:09] Steve thanks Dr. Josh Baron for sharing so much of his expertise and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@familyenterprise.ca
Mentioned in this episode
The Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Canada.
BanyanGlobal Family Business Advisors
Books:
Family Business Handbook: How to Build and Sustain a Successful, Enduring Enterprise, by Dr. Josh Baron and Rob Lachenauer
Range: Why Generalists Triumph in a Specialized World, by David Epstein
More about Family Enterprise Canada
Family Enterprise Canada's Website
Family Enterprise Canada on LinkedIn
Family Enterprise Canada on Twitter
Family Enterprise Canada on Facebook
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.
Description
Guest Host Steve Legler speaks with Dr. Karl Pillemer of Cornell University and author of Fault Lines: Fractured Families and How to Mend Them. Together, they discuss various ways that Family Enterprise Advisors (FEAs) can act as valuable resources to their family clients who have experienced family estrangement, which can occur over money and inheritance or unmet expectations.
Guest bio
Karl Pillemer, Ph.D., is one of America’s leading family sociologists and researchers on aging. Dr. Pillemer is a Professor of Human Development at Cornell University and Professor of Gerontology in Medicine at the Weill Cornell Medical College.
Throughout his career, Dr. Pillemer’s research has focused on how family relationships develop and change throughout people’s lives. His research takes place in the real world of families and professionals who work with them.
Karl Pillemer lives in Ithaca, New York, with his wife, Clare McMillan. He is the father of two daughters, Hannah and Sarah, and the grandfather of (scientifically and objectively speaking) the most adorable grandchildren in the world, Clare and Tommy. When not writing, you may find him running, biking, and playing the guitar (badly).
Book: Fault Lines: Fractured Families and How to Mend Them, by Karl Pillemer, Ph.D.
You can find out more about Dr. Karl Pillemer here.
Key Takeaways
[0:30] Steve Legler introduces Dr. Pillemer and launches the conversation on how learning to work with fractured families is relevant to family advisors.
[2:47] Karl talks about the silent epidemic that a great number of families struggle with as well as some of the ways professionals can help families tackle this issue.
[5:50] The advisor may well be perfectly suited to serve a preventative function within families; Dr. Pillemer explains how.
[8:32] Karl describes one of the major highways to family estrangement and how advisors can help zero-sum game situations.
[10:40] There are multiple paths to estrangement, and Dr. Pillemer offers that socio-cultural expectations may have a big role to play as well.
[15:12] There is hope, even when there are fractures; Dr. Pillemer shares some of the results he saw in case studies.
[18:00] Should some fractures even be mended? Karl shares what signs to watch for as well as an anecdote from his book.
[22:40] Dr. Pillemer talks about the problem of inertia in the context of family conflicts.
[25:35] Successful reconciliation required one key aspect from the people involved, and Karl shares how he has seen this again and again.
[30:10] Looking forward despite disagreement is hard, but Dr. Pillemer shares how people who mend families have found a way.
[31:12] Steve invites Dr. Pillemer to share a book recommendation as well as his advice to advisors.
[36:40] Steve thanks Dr. Karl Pillemer for sharing so much of his expertise and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@family-enterprise-xchange.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Book: Fault Lines: Fractured Families and How to Mend Them
Hidden Valley Road: Inside the Mind of an American Family, by Robert Kolker
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.
Description
In this episode, Dr. Lee Hausner sits down with Ruth Steverlynck for part 2 of our 2-part conversation, answering questions posed by FEAs. Topics covered in this podcast include the “big reveal”, money and meaning, talking about money, the important role of philanthropy in wealth transition and more.
Guest bio
Dr. Lee Hausner is an internationally recognized clinical psychologist, business consultant, and family wealth advisor. She served as the senior psychologist for the Beverly Hills Unified School District for 19 years and is currently the Senior Managing Director for First Foundation Advisors. Dr. Hausner is a graduate of Northwestern University (BA, Psychology), San Francisco State University (MA, Psychology), and Kensington University (Ph.D., Psychology).
You can find out more about Dr. Lee Hausner here.
Key Takeaways
[0:30] Ruth Steverlynck introduces Part 2 of the discussion with Dr. Hausner.
[3:00] The discussion starts with Dr. Hausner’s answer to the question “when, how and how much do we tell our children about the wealth they will receive when it comes to wealth transition?”
[7:37] Dr. Hausner touches on the role achievement plays in the coming generations and how to manage the profound impacts on children of the last great taboo in our modern society.
[12:24] Does age matter when discussing estate planning? Dr. Hausner shares her take on when the right time might be.
[15:30] Fear of entitlement can lead to withholding teachable moments as it relates to certain particular life skills, Dr. Hausner weighs in on the importance of transparency.
[19:20] Dr. Hausner shares some tips on how to protect more vulnerable heirs as well as gifting.
[23:00] In a technological world, handling money has become a more abstract concept. Does this have an impact on how children learn healthy financial habits?
[24:40] As more women become wealth owners, Dr. Hausner touches on how marriage relationships may be affected in the future.
[29:35] Dr. Hausner shares how she has handled emotional situations in her professional practice and why working with families can create a blurred boundary between the personal and professional.
[33:04] Is walking away from a family something you can do as an advisor?
[37:37] Dr. Lee Hausner’s advice for advisors.
[39:41] Ruth thanks Dr. Hausner and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@family-enterprise-xchange.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.
Description
In this episode, Dr. Lee Hausner sits down with Ruth Steverlynck for part 1 of a 2-part conversation answering questions posed by FEAs. Topics covered in this podcast include: what to do when members of the rising generation are not willing or able to take over the family business; how advisors can help in situations where family leaders will not let go; what is different about advising family businesses today; and more.
Guest bio
Dr. Lee Hausner is an internationally-recognized clinical psychologist, business consultant, and family wealth advisor. She served as the senior psychologist for the Beverly Hills Unified School District for 19 years and is currently the Senior Managing Director for First Foundation Advisors. Dr. Hausner is a graduate of Northwestern University (BA, Psychology), San Francisco State University (MA, Psychology), and Kensington University (Ph.D., Psychology).
You can find out more about Dr. Lee Hausner here.
Key Takeaways
[0:30] Ruth Steverlynck is thrilled to welcome and introduce the internationally recognized clinical psychologist and business consultant Dr. Lee Hausner to today’s episode.
[3:45] The overall assessment of “fit” between the rising generation and the family business is, according to Dr. Hausner, a multi-part question. She breaks down the different aspects of this, and how each can be tangibly addressed from a family and a business standpoint.
[5:49] Engaging the next generation in a positive representation of the family business starts early; Lee shares some practical tips on how to identify and promote traits that could be valuable for the business as well as the other way around!
[10:20] Dr. Hausner explains what she means by a “family welfare state” and answers the question: does skill play a bigger part than attitude when integrating children into the family business?
[14:00] What about a situation in which a family’s children may not be capable or even interested in leading the family business? Lee shares a few practical tips for advisors to navigate an example situation from her own practice.
[18:35] Encouraging an overdue retirement by a matriarch or patriarch can be a delicate situation. Dr. Hausner shares a few situations she’s encountered and the pointed interventions that helped resolve the issues.
[25:31] Dr. Hauser shares a very interesting story about what advisors can do to help when there are more than one interested and qualified children to take over.
[26:52] Ruth asks interesting listener questions about Dr. Lee Hausner’s career and advisory style, from the evolution and complexity of family businesses and their needs to the fundamental paradigm shift between being and doing in an advisory role.
[33:50] Ruth thanks Dr. Lee Hausner and invites listeners to subscribe to the podcast and tune in for Part 2 of this enlightening series.
Share your thoughts with us at fea@family-enterprise-xchange.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Books:
Children of Paradise: Successful Parenting for Prosperous Families, by Dr. Lee Hausner
Hats Off To You 2: Balancing Roles and Creating Success in Family Business, by Dr. Lee Hausner
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.
Description
Guest host Steve Legler speaks with Guillermo Salazar, Founder and Managing Director of Exaudi Family Business Consulting to explore the Family Business Myth, the Hero's Journey and the importance of storytelling when working with family businesses.
They discuss the importance of a family narrative around the history of the family business as a way to begin the process of creating a cohesive, shared vision for the generations who will take the family into the future, with a particular focus on how FEAs can be catalysts for these types of conversations with their clients.
Guest bio
As Founder and Managing Director of Exaudi Family Business Consulting, Guillermo has helped many business families in the different processes towards the transition of their legacy; integrating new generations and implementing methodologies that create sustainable businesses and align the vision of the family and its values. For over 18 years he has guided business families in Latin America, Europe and the United States in the process of designing family protocols, professionalization processes, effective decision-making and conflict resolution through proven models and methodologies.
You can find out more about Guillermo Salazar here.
Key Takeaways
[0:30] Steve Legler welcomes Guillermo Salazar to discuss the “Family Myth” and the “Hero’s Journey” and how Family Enterprise Advisors can use them to better serve their family business clients.
[3:34] Guillermo talks about the importance of storytelling and how the Family Myth can be used to create and nurture the entrepreneurial spirit in the following generations of a family.
[4:54] Guillermo notes the importance of using the Hero’s Journey in a way that will inspire the next generation.
[8:30] Steve and Guillermo discuss how Family Enterprise Advisors can use the Hero’s Journey with their family business clients to rediscover the family’s narrative.
[12:43] Guillermo talks about three stages (or steps) in the Hero’s Journey that can help families remember pivotal moments in their history that they may have forgotten or not realized.
[14:12] Guillermo breaks down the three steps of the Hero’s Journey and how to circumvent certain people’s resistance to the phases of this journey.
[19:54] Guillermo and Steve discuss how the Family Myth can be retold in a way that the family needs in order to continue through generations, and then Guillermo shares an example from the Spanish army.
[27:58] Steve asks how Family Enterprise Advisors can introduce the Hero’s Journey to their family business clients and get them working on their own Family Myth.
[31:10] Guillermo shares his book recommendations and a piece of advice from an advisor to other advisors.
[35:22] Steve thanks Guillermo for joining the podcast and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@family-enterprise-xchange.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Antonio Ferreira - The Family Myth
The Hero With a Thousand Faces by Joseph Campbell
The Hero's Farewell: What Happens When CEOs Retire by Jeffrey Sonnenfeld
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.
Description
Ruth Steverlynck sits down with author and advisor to business families, Melissa Mitchell-Blitch, to discuss her recently released book, In the Company of Family: How To Thrive When Business is Personal.
Guest bio
Melissa is a former CPA and financial advisor who left the field of finance in 2003 to focus on the psychology of business and wealth. She has a Master’s in Accounting and a Master’s in Psychology. Melissa is a Certified Professional Coach, a GiANT Master Coach and a Myers-Briggs Type Indicator (MBTI) Certified Practitioner.
You can find out more about Melissa Mitchell-Blitch here.
Key Takeaways
[0:27] Ruth welcomes Melissa to the podcast and asks her to talk a little bit about what led her to pivot from finance to psychology.
[4:34] Melissa touches on some tools of psychology that quantitative advisors can add to their skillset to better serve their clients — helping clients check the limits of their own responsibility and ability.
[8:46] Melissa talks about the misconceptions surrounding the balance between good family relationships and successful business and wealth.
[11:30] Melissa touches on ways that advisors can help find the balance between good family relationships and success.
[14:06] Ruth offers a short synopsis of the discussion so far and opens up the discussion on how to use “the three R’s” to navigate family and business relationships.
[17:05] Melissa then introduces and talks about seeking a balance between “the three F’s.” Ruth and Melissa segue into how help is helpful until it’s not. Melissa offers an example.
[21:09] Melissa explains the difference between hurt and harm, and how advisors can help families avoid long-term damage with well-positioned questions.
[26:03] What if hurt or harm has already been caused? Melissa talks about the transformative power of an “apology session” and shares a powerful example.
[31:35] Melissa offers her advice to other advisors as well as a reading recommendation.
[34:20] Ruth thanks Melissa for coming onto the podcast to share so much of her experience and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@family-enterprise-xchange.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Book: In the Company of Family: How to Thrive When Business Is Personal, by Melissa Mitchell-Blitch
Boundaries: When to Say Yes, How to Say No to Take Control of Your Life, by Henry Cloud and John Townsend
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.
Description
Guest host Steve Legler speaks with Dr. Sharilyn Hale, President, Watermark Philanthropic Counsel, to learn ways that Canadian families are effectively using philanthropy to create meaningful multi-generational legacies.
Guest bio
Dr. Sharilyn Hale helps those who give, give well. As President of Watermark Philanthropic Counsel, she enables philanthropists and their families to unearth and achieve their philanthropic goals, and helps social purpose organizations deepen their performance. She is a 21/64 advisor to support multi-generational philanthropic families, and in her recent doctoral research on family philanthropy governance in Canada she developed a framework that helps families approach their giving in a meaningful way that works.
Find out more about Sharilyn here.
Key Takeaways
[0:27] Guest host Steve Legler welcomes Dr. Sharilyn Hale, who shares a bit about her background and her doctoral work in family philanthropy.
[3:43] Dr. Hale touches on how family philanthropy and governance intersect and how governance differs in corporate and family contexts.
[6:03] Dr. Hale describes how philanthropy can serve as a bridge for discussion and a place for people to have a meaningful impact on the family operations.
[8:24] Without cookie-cutter solutions, Dr. Hale shares some of her learning that advisors can put into practice to help families hone-in on what they hope to accomplish through their giving. She also touches on all of the different configurations a family can take and how it affects the discussions.
[14:26] Dr. Hale talks about the aspects she observed in very successful family philanthropies, and it often begins with an eagerness by the head of the family to generate engagement from the people sitting around the table.
[17:50] Dr. Hale shares a story of growing governance from one of the families in her doctoral research group, about how they engaged the children early on in philanthropic activities and the way it built a more sophisticated thought process on giving as the years passed.
[22:00] Dr. Hale shares a personal experience about her daughter’s generosity and multi-generational giving.
[24:13] Donor-advised funds are an emerging trend in Canada, Dr. Hale explains some of the different giving structures out there and why they could be chosen by a given family depending on what they can give and what objectives they set for their philanthropic venues.
[28:00] Dr. Hale shares one of the key takeaways from her research with Canadian giving families.
[28:47] Dr. Sharilyn Hale shares a book recommendation and her advice for advisors.
[32:02] Steve thanks Dr. Hale for coming onto the podcast to share her experience and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@family-enterprise-xchange.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Watermark Philanthropy Counsel
The Giving Governance of Multi-Generational Families
Humble Inquiry: The Gentle Art of Asking Instead of Telling, by Edgar H. Schein
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Exchange or its employees.
Description
There is nothing quite like a global pandemic to cause us to pause and think about what really matters in our lives. Ruth Steverlynck sits down with author, coach, world record-breaker, and global resource for CEOs and Family Enterprises, Dave Phillips (dphillips.com), to explore why achieving success in life may not, in and of itself, be enough and practical steps we can take to figure out our authentic life purpose.
Guest bio
Dave Phillips, of Phillips Management Inc., is an experienced executive mentor and speaker for high-performance CEOs and business leaders across North America. His work covers topics ranging from the boardroom to the bedroom in some of the most challenging and even troubling areas of the leaders’ lives.
Dave not only supports CEOs and business leaders but also their teams to make a greater impact and provide long-term solutions to business leaders. Along with leadership mentoring and speaking engagements, Dave and the Phillips Management team have developed a variety of team-building tools and courses to support corporate teams for a variety of businesses. Regardless of your business size and revenue, the tools and capacity building programs Phillips Management offers will improve business communication and, in the long run, the overall health of the business.
For Dave’s full bio, click here.
Key Takeaways
[0:27] Ruth introduces fellow Vancouverite Dave Phillips and works down the list for only part of his impressive resume.
[5:00] Ruth quotes part of the foreword in Dave’s book, The Three Big Questions. She takes a moment to ask him why taking the time to know, understand and clearly define his overarching life purpose was more transformational than any of his personal or professional accomplishments.
[6:00] They discuss the difference between "purposeful" versus "purpose for". Dave shares that the life purpose puzzle has three pieces.
[9:28] There have been, since the beginning of humankind, overarching and common characteristics of what it means to be a person of substance and this is agreed upon, regardless of creed. Dave explains that these virtues are our greatest hope for legacy but hardly ever our primary focus.
[11:50] Dave shares a story which starts when he broke the world record for the longest water-ski marathon (1300 miles).
[20:11] Dave addresses the question, “What’s my purpose?” and the value of finding that deeper sense of self.
[22:11] Dave talks about being intentional about who you want to be in life, which may lead to finding a purpose.
[23:04] Dave addresses the second question, “What is my mission?” and touches on how we can find what we’re likely good at and may find satisfying.
[24:11] Dave touches on the third question, “What is my vision?”
[29:27] Dave shares some practical steps to get started if you’re interested in finding more purpose, mission and vision for your life.
[34:22] Dave explains how having a clear understanding of what your top three values are may inform more decisions than you would believe. “If you don’t know who you are, you will become the sum of the expectations of those around you.”
[36:20] The three categories of values are as follows: identity values, competency values and activity values. Dave breaks down and defines each category.
[39:00] Ruth asks Dave to share his advice to advisors: “To be mindful of: The money is not the client.” He takes time to explain exactly what he means as well as how he goes about talking to his clients about it.
[44:09] Ruth thanks Dave for coming on to the podcast to share so much of his wisdom and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@family-enterprise-xchange.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Dave Phillips
The Three Big Questions that Everyone Asks Sooner or Later, by Dave Phillips
The Values Game will be made available in the Family Enterprise Exchange Monthly Digest.
Lead Yourself First: Inspiring Leadership Through Solitude, by Raymond M. Kethledge and Michael S. Erwin
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.
Description
Following the recent merger of the Business Families Foundation (BFF) with the FEX Foundation to form the new Family Enterprise Foundation (FEF), host Steve Legler speaks with Nan-b de Gaspe Beaubien(C.M) who, with her husband Philippe, co-founded BFF in 1990 and is the current Co-Chair and Founder of the de Gaspe Beaubien Foundation. Together, they discuss the historical impact of BFF on the global stage of family business and the significance of this merger in not only advancing the platform for FEX and FEF, but also perpetuating the legacy started by the de Gaspe Beaubien family.
Guest bio
Nan-b de Gaspé Beaubien is co-chair of the de Gaspé Beaubien Foundation and devotes her time to philanthropic endeavours that continue to break new ground supporting environmental causes, enterprising families, enterprising women, public health and education. An internationally renowned expert on the topic of family enterprise, she is a regular speaker at global conferences and top universities worldwide. Along with her husband, she has given conferences and workshops at diverse organizations such as the Davos Economic Forum, Young Presidents’ Organization, the Chief Executives Organization, Kellogg School at Northwestern University, Sauder at the University of British Columbia and Harvard Business School, amongst many others.
For Nan-b’s full bio, visit here
Key Takeaways
[0:16] Steve introduces Nan-b de Gaspé Beaubien and asks her to talk about the foundation of BFF (Business Families Foundation).
[5:12] Nan-b shares the history of the first BFF events, hosting people from all over the world, as well as how they came about teaching family advisors — and the tools they built to effectively teach families and their advisors.
[9:39] Nan-b talks about how the roadmap program launched and how the family business centres evolved from a board initiative as well as customer demand.
[18:10] They discuss the recent announcement that BFF has merged with the FEX Foundation, as well as the importance of handing over the baton.
[22:06] Nan-b touches on the satisfaction of a well-cared-for legacy. She also answers the question of if she would have done anything differently had she known what she does today.
[27:30] It is important to bring experts from different fields together to advise families, using a common language.
[29:29] Nan-b’s book recommendation and advice from a seminal advisor to other advisors.
[32:10] Steve thanks Nan-b for coming on to share her expertise and invites listeners to subscribe to the podcast.
Share your thoughts with us at fea@family-enterprise-change.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Family Enterprise Foundation
Books/articles:
12 Rules for Life, by Jordan Peterson
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
Description
Steve Legler sits down with industry thought leader, consultant and lauded author, Kirby Rosplock to explore the “what” and “why” of Family Offices, as well as the trends in the Family Office space that FEAs can benefit from paying attention to.
Guest bio
Kirby Rosplock, Ph.D., is a recognized consultant, researcher, innovator, advisor, author, facilitator and speaker in the family business and family office realms. As the founder of Tamarind Partners, Inc., a research and consultancy practice that works with families, advisors and institutions connected to the family office market, Kirby provides leading-edge insights and knowledge to the family office domain. Working with families of wealth and enterprise, Dr. Rosplock understands the unique nuances and needs of families starting a family office versus those transitioning or unwinding them.
To learn more about Dr. Rosplock visit Tamarind Partners or Rosplock.net
Key Takeaways
[0:16] Steve introduces Kirby and asks her to give a little bit of background on how she ended up working in the family office space.
[2:49] Kirby touches on the role that Tamarind Partners fills with family businesses.
[4:32] Kirby and Steve discuss what families may require a family office.
[6:30] Kirby touches on the two greatest differences she’s seen in the family office space in the past six years.
[9:18] New wealth tends to happen earlier in a lifetime; Kirby touches on the differences in working in the mid-30s vs. 60s.
[12:00] What does it take to operate a family office, and how does one prepare their children for it?
[15:10] Kirby offers what advisors should be aware of and do since their range of skills can be broad and bump up against other people’s domains.
[18:37] Steve offers tips on what advisors can do to help their clients find clarity and understanding of all the different choices they have in terms of service provisioning.
[19:29] Kirby offers that disclosure of conflict of interest is critical when operating a family office, then shares an example.
[24:32] Kirby touches on the impacts of cybersecurity, AI and data management on family offices. Advisors can help in that respect by learning which questions to ask; Kirby shares a few as well as an interesting tip on letting families talking to each other!
[31:00] Kirby shares her book recommendation and a piece of advice to advisors.
[34:32] Steve thanks Kirby for coming on the podcast and sharing so much of her expertise.
Subscribe to the podcast and share your thoughts with us at fea@family-enterprise-change.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Tamarind Partners
Book: The Complete Family Office Handbook: A Guide for Affluent Families and the Advisors Who Serve Them, by Kirby Rosplock
Family Offices: The STEP Handbook for Advisors, by Barbara R. Hauser and the Society of Trust and Estate Practitioners
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
Description
In this episode, Ruth Steverlynck sits down with Joan DiFuria, MFT and Stephen Goldbart, Ph.D, co-founders of the Money Meaning and Choices Institute. They discuss the psychological impact that life-altering wealth can have on individuals and families, and what families who are “getting it right” are doing that FEAs can meaningfully learn from to support and help the families they serve.
Guest bio
Joan DiFuria
Co-founder of MFCC, Joan DiFuria has had considerable experience in both business and psychology, giving her a unique ability to provide balanced guidance to senior leaders in organizations. She addresses the very sensitive issues of wealth, philanthropy, meaningful careers, and developing family legacies with sensitivity and insight. Ms. DiFuria completed the Harvard Business School Program for Management Development including a degree in education and psychology. She has 18 years of experience as Director of Long-term Strategic Operations and National Marketing Director for one of the largest multinational corporations in the industrial metals distribution and commodities industry.
Stephen Goldbart
Co-Founder of MMCI, Stephen Goldbart has over 30 years of professional experience, is a licensed clinical psychologist, professor, author, public speaker, and organizational consultant. Dr. Goldbart also has a passion for working with complex family/organizational systems, helping to clarify purpose, make or remake structure, and find solution pathways. He has consulted with individuals, families, and organizations to help develop the fulfilling and sustainable balance of personal, professional, and philanthropic goals.
Find out more about Stephen Goldbart and Joan DiFuria here.
Key Takeaways
[0:16] Ruth introduces Joan and Stephen, then opens up the conversation by offering to define wealth.
[4:09] Stephen talks about the research that exists around the psychological impacts of life-changing wealth.
[6:11] Joan takes a moment to break down the insight from the research for the audience, from breaking down taboos to clear decision-making processes. She touches on how they coined the term “Sudden Wealth Syndrome” and the response that it garnered.
[9:50] Joan explains why family advisors should think holistically, because coming into great wealth comes with its own set of particular challenges.
[13:41] Stephen talks about what 21st-century comprehensive planning is and what it looks like.
[15:40] Ruth summarizes the overarching aspects an advisor should cover: the financial wealth, the human wealth of the family and the social impact that the family wants to have.
[16:27] Joan touches on the importance of honing the ability to listen as an advisor.
[17:10] Stephen speaks about the framework he and Joan have been building to guide families in this kind of planning, from talking to the wealth holders to drafting a set of operational values and finally engaging the entire family in the process.
[19:20] Joan mentions that once the values have been isolated, action plans are developed and channelled into governance.
[20:40] Stephen and Joan list off a few of the questions they’ve heard from members of the next generation.
[24:11] Joan and Stephen talk about giving the next generation the opportunity to ask questions and share ideas.
[28:20] Stephen talks about learning to know when to bring in other experts if the situation requires it. Joan and Stephen offer their tips on managing this kind of situation.
[31:22] Joan and Stephen share their one piece of advice and book recommendations.
[35:00] Ruth thanks Joan and Stephen for sharing so much of their expertise and resources.
Share your thoughts with us at fea@family-enterprise-change.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Money, Meaning & Choice Institute
The Purposeful Planning Institute Rendezvous
Book recommendation: Family: The Compact Among Generations, by James E. Hughes, Jr.
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
Description
Guest host Steve Legler speaks with FFI Fellow and family business consultant Ken McCracken about the importance of recognizing what our family business clients are doing right and avoiding jumping in with "best practices" and recommendations that don't fit the family or the business.
Ken offers the idea of beginning any client intervention with "cautious observation" and then offers clients the benefit of those observations as a "reporter of sights" to the family. He then gives them some useful information that you, as an independent outsider, can reveal to them about their family and business systems. He also offers his views on family governance and whether or not everything needs to be formally documented for the family to succeed.
Guest bio
Ken McCracken, FFI Fellow, is a family business consultant and founder of McCracken Family Business Consulting in Edinburgh, Scotland. Ken teaches a Family Business Module on the STEP Professional Postgraduate Diploma in Private Wealth Advising and in 2016, he was named the “Family Business Adviser of the Year” by the Society of Trusts and Estate Practitioners. He is a former member of the Research Applied Board for the Family Business Review and is a current member of the 2020-2021 UK/Europe Regional Advisory Committee. In 2018, Ken chaired the FFI Global Conference in London.
More information about Ken can be found here.
Key Takeaways
[0:16] Steve introduces Ken McCracken, author of the article, “The Natural Advantage of Family Businesses,” and asks him to quickly explain what he means by advantage.
[2:44] For a family business to have existed for a decade, they have to be doing something right, Ken invites advisors not to ‘throw the baby out with the bathwater.’
[4:17] Ken shares a mistake he made in his early days as an advisor. Which led him to humbly realize he had to come into every family with a learning mindset and give them the benefit of the doubt.
[6:20] Ken and Steve touch on the role of advisors in helping families figure out exactly where they want to establish the boundaries between family and business.
[9:04] Ken offers that cautious observation is a basic courtesy that should be extended to any new family an advisor would work with.
[12:32] Steve talks revealing the system to itself and Ken follows with finding what ‘better’ means for each family.
[14:50] Ken touches on adaptive incremental change — helping families get better at what they’re doing already while also keeping the pace of generationally-propelled change manageable.
[20:44] When it comes to natural governance, when do you write things down, if ever?
[25:31] Ken’s book recommendation and his advice as an advisor to another.
[29:14] Steve thanks Ken for coming on to share his expertise and invites listeners to subscribe.
Share your thoughts with us at fea@family-enterprise-change.com
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Books/articles:
“The Natural Advantage of Family Businesses,” by Ken McCracken
Process Consultation: Its role in organization development, by Edgar Shein
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
Description
In a time of crisis, as Family Enterprise Advisors (FEAs) we work hard to be the valuable and trusted resource to our client families. In his latest work, Borrowed from your Grandchildren, Dennis Jaffe reports on a research project where he interviewed family members from 100 global business families who had succeeded over more than three generations. The book shares their stories of continual reinvention and renewal, and how they responded to vast changes in their family and business worlds.
Guest host Steve Legler sits down with Dennis to discuss ways that FEAs can use the wisdom gleaned from this research in service of their family enterprise clients as they face the COVID-19 pandemic.
Guest bio
For over 40 years, Dennis T. Jaffe has been one of the leading architects in the field of family enterprise consulting. As both an organizational consultant and clinical psychologist, he helps multi-generational families to develop governance practices that build the capability of next-generation leadership and ensure the ongoing capability of financial organizations and family offices to serve their family clients.
He is also a Family Business Scholar at the Smith Family Business Initiative at Cornell University, a faculty advisor at the Ultra High Net Worth Institute, a regular contributor to Forbes Leadership channel, reporting on family cross-generational family business and wealth, and a professional member of the Society for Trust and Estate Planners (STEP).
For 35 years, he was a Professor of Organizational Systems and Psychology at Saybrook University in San Francisco, where he is now Professor Emeritus. He received his B.A. in Philosophy, M.A. in Management and Ph.D. in Sociology from Yale University.
More about Dennis here.
Key Takeaways
[0:16] Steve introduces Dennis Jaffe and asks his guest to explain the origin, nature and goal of his most recent book.
[4:38] Dennis touches on the qualitative and narrative research used to build the theories and common themes covered in the book.
[6:00] From facing a crisis head-on to having the ability to reinvent and redefine who you are as a family and as a business, Dennis shares some tips for family advisors derived from successful multi-generational family businesses.
[10:04] Where does a family’s energy for change come from?
[12:11] Dennis touches on the notion of a Family Bank to invest and foster the next generation’s ideas and creativity both for money-making and social impact ventures.
[14:38] Advisors can be useful in ways that families may not ask or expect, Dennis shares a few examples of how this can manifest in the field.
[19:06] “Which one of my kids is going to be the successor?” Dennis explains how and why, when looking at 100-year family businesses, this is the wrong question. He also explains the need to challenge the very questions people want help with.
[22:40] First things first, coming out of this crisis: managing everyone’s expectations that are no longer true… Dennis offers examples.
[29:19] Everything will change with COVID-19; make sure you adapt and evolve.
[31:21] Dennis shares his last piece of advice from one advisor to another as well as a book recommendation.
[34:00] Steve thanks Dennis for his time and experience and invites listeners to subscribe and tune in for the next episode.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange.
Books:
Borrowed From Your Grandchildren: The Evolution of 100-Year Family Enterprises, by Dennis T. Jaffe
Ready or Not: Preparing Our Kids to Thrive in an Uncertain and Rapidly Changing World, by Madeline Levine
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
More about our guest
Dennis T. Jaffe’s website
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
Description
At a time where uncertainty reigns for most of our clients, and ourselves, some things are certain. It is certainly true that we are all spending more times in our homes; it is certainly true that relationships are adapting to new realities and it is certainly true that we are experiencing far more anxiety than normal. Discussing how COVID-19 difficulties provide a significant opportunity for personal and professional development, Steve Legler, FEA, (shiftyourfamilybusiness.com) sits down with family therapist, Peter Vaughan, FEA, for some guidance with our own family circumstance, for our work as advisors and for the family enterprise clients we seek to help.
Guest bio
Peter Vaughan is a designated Family Enterprise Advisor, Registered Clinical Counsellor in the province of British Columbia, Canada and a Certified Gottman Method Therapist.
He is also a Principal and Co-founder of Your Family Enterprise Advisors, Inc. (familyenterprisetherapy.com). His role on YFEA’s multi-disciplinary team focuses on facilitation and analysis of interpersonal dynamics as applied to family enterprise governance, generational transitions of ownership, and management and interpersonal skills capacity building.
Peter’s style is direct, reality-focused, and comprehensive in addressing the personal and interpersonal facets of your life which help or hinder your success in relationships and living. The therapy that he practices is grounded in sound theory and research about individuals, couples and families.
Key Takeaways
[0:16] Steve introduces Peter Vaughan and launches the conversation with the interesting aspects of work and family balance especially as it pertains to FEAs during the COVID-19 pandemic.
[5:10] Some of your clients may be more used to this jumbling of family and work together and this may be a great opportunity to learn.
[8:41] Communication erodes when primary needs are triggered, Peter explains what this means in terms of security and significance and how these two primary needs are currently being triggered in different ways.
[12:15] Peter and Steve talk about the differences between being overworked, or alternatively, having nothing significant to do — which is worse?
[15:10] Peter discusses his thoughts about how some incompatibilities in this closed interaction with family members can be magnified.
[19:21] If you sense defensiveness, you can be sure you’ve been perceived as criticizing. Peter touches on the skills required to defuse defensiveness and how this may be the best time to practice them.
[21:20] What is positive affect? The first three minutes of an interaction can determine the emotional outcome of a conversation.
[24:54] Peter offers some tips on how to start a difficult conversation and it can be as simple as an upfront declaration of goodwill and a show of honesty and love.
[27:24] This crisis may just be the great equalizer in relationships and conversations; Peter explains how.
[28:45] Peter raises a flag when it comes to the potential to over-engage in worry when control escapes us, especially when it comes to business leaders.
[32:10] Learning is the key to coming out of this better and stronger than we came in as people and as advisors. Steve and Peter discuss the interesting aspects that can be discussed with families once the crisis has abated.
[34:08] Peter shares his book recommendations and one piece of advice from an advisor to other advisors.
[37:44] Steve thanks Peter for his time and experience and invites listeners to subscribe and tune in for the next episode.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Books:
The Relationship Cure: A 5 Step Guide to Strengthening Your Marriage, Family, and Friendships, by Joan DeClaire and John M. Gottman
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
More about our guest
Peter Vaughan on Your Family Enterprise
Peter Vaughan on West Vancouver Therapy
Peter Vaughan on Counselling BC
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
Description
Family enterprise clients rarely want to fail at wealth transition, yet the research finds that most do. Host Ruth Steverlynck sits down with Courtney Pullen, author of Intentional Wealth: How Families Build Legacies of Stewardship and Financial Health to take a deep dive on those families—the ten percent—that manage to build lasting patterns of emotional and financial health to see the common attributes that we as advisors can learn from to help our family enterprise clients with similar aspirations for a successful transition of their wealth.
Guest bio
Courtney Pullen, M.A., is the President of The Pullen Consulting Group. He has more than 25 years of experience in individual and family coaching, business and management consulting, leadership development, communication and team building.
Pullen has lectured frequently, conducted numerous workshops and been published in the areas of individual and organizational change, behavioural finance, communication and family wealth dynamics. He is a former contributing editor to the Journal of Financial Planning and the Journal of Practical Estate Planning and is a faculty member of the Sudden Money Institute. He is also a graduate of the Newfield coaching program.
His primary focus is as a consultant to financial services firms and affluent families. He recently published the best-selling book, Intentional Wealth: How Families Build Legacies of Stewardship and Financial Health.
Key Takeaways
[0:16] Ruth introduces Courtney Pullen and this episode’s theme, the 10 percent, before a brief discussion about affluent families that fail.
[3:16] Courtney touches on the difference that wealth actually makes in a family, as well as the importance of keeping in mind that all families have “stuff.”
[5:50] Ruth and Courtney discuss challenges that wealthy families face, such as material limits and boundaries, and societal treatment. Courtney also shares examples of value-based boundaries as well as some issues arising from being born into affluent families.
[9:54] Courtney talks about some common themes that the interviews from his book highlighted regarding the creation of wealth versus receiving wealth.
[11:09] Courtney shares a story of hope as well as some practical advice for advisors about “optimal frustration.”
[17:19] Courtney discusses how intentionality is the common denominator in G3+ families.
[18:14] Courtney shares other common attributes that have a big impact on the successful transition of wealth, such as investing in the next generation, focusing on healthy communications and investing in the family as much as you do in the business.
[22:54] How do you prepare people for receiving wealth they haven’t earned? Courtney explains the delicate balance between denial vs. entitlement.
[25:32] Courtney explains how everything he has mentioned is not yet common practice and wonders if this could be the cause of the dire 10 percent success statistics.
[26:52] Individual pursuits and family businesses often do not align; Ruth and Courtney speak to the importance of building empowered family relationships.
[28:40] There is no recipe, but change occurs in the direction of our attention and intention.
[31:13] Ruth takes a moment to recap the important points that Courtney has brought to the podcast and asks him for a last piece of advice.
[35:37] Courtney shares his reading suggestions.
[37:14] Ruth thanks Courtney for his time and experience and invites listeners to subscribe and tune in for the next episode.
Mentioned in this episode
The Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Pullen Consulting
Intentional Wealth: How Families Build Legacies of Stewardship and Financial Health, by Courtney Pullen
Mindset: The New Psychology of Success, by Carol Dwek
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Family Enterprise Xchange
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Courtney Pullen’s website
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
Description
Steve Legler is our guest host today and he welcomes Mary Duke, Independent Family Advisor based in New York City to talk about human capital and the emergence of the Chief Learning Officer role for families.
Guest bio
Mary Duke is an internationally recognized advisor to families navigating the complexities of substantial wealth. Her work is anchored in the facilitation of family meetings, strategic planning for owned businesses, private trust companies and family offices and the education and mentoring of family members around the world.
She is known for her deep expertise on the impact of trusts on families and her work in generational transition in family enterprises, and she is a licensed attorney and accountant. She has served in private client law and business consulting.
Key Takeaways
[0:16] Steve introduces Mary Duke and invites her to share a little background on the work she does as an advisor to families.
[3:20] Mary touches on the predictable, but more importantly the less easy to anticipate events that may arise — especially in light of the fundamental change some economists are calling the intangible/4th/experience economy.
[5:33] Mary talks about the underlying qualities one has to hone for long term success and helps family members practice them through experiential learning.
[8:55] It’s easy for families to grow apart, so Mary works at creating patterns of behaviour and helps families work better and make better decisions together.
[10:20] On the challenges of getting the quiet voices in a family to be heard, as well as how to evolve in your role when advising a family.
[12:45] Steve and Mary discuss when it may be time to bring in an outside person.
[13:33] Mary explains what she means by human capital — but first, she talks about what a Chief Learning Officer (CLO) is and why it’s a growing position, as well as some of the lessons we can apply to our families.
[19:20] You have to invest both time and money in your human capital.
[20:18] Mary’s tips on how to grow and measure the individual human capital.
[22:53] Mary’s tips on how to effectively and soundly grow collectively.
[25:36] Mary shares her thoughts on governance, what it is and how it can be used.
[26:50] Steve asks what the Chief Learning Officer’s job is.
[29:08] Mary’s parting thoughts.
[30:06] Steve thanks Mary for her time and experience, then invites listeners to subscribe and tune in for the next episode.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
“Growing your Family’s Human Capital: Ten Lessons from the Emergence of the CLO”
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
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FEX on LinkedIn
More about our guest
Mary Duke on LinkedIn
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
Description
Steve Legler is our guest host today and he welcomes Dr. Dawn Gross and Nancy Belza in order to learn how to better talk about death with clients.
Guest bios
Dr. Dawn Gross and Nancy Belza co-founded Dyalogues, along with their partner, Paul Puccinelli.
Dawn Gross, MD. PhD. is a palliative medicine physician dedicated to transforming end-of-life conversations. Considered a national thought leader on end-of-life care, her work has been featured in Science, JAMA and The New York Times.
Nancy Belza is a Relationship Manager, Business Development Consultant, Training Specialist and planning activist. She combines natural compassion and innate storytelling abilities with over 25 years of financial services industry experience and 15 years of mental health advocacy to help people face end-of-life planning prepared and empowered.
Key Takeaways
[0:16] Steve introduces Dr. Dawn Gross and Nancy Belza, and asks them why Family Enterprise Advisors should have an interest in learning how to talk about death, as well as some of the cultural barriers to those conversations.
[5:35] Dawn and Nancy’s work has a lot to do with the normalization of the discussions around death; they explain what that actually entails, from the knowledge vacuum to the semantic field.
[9:45] Dyalogues was born out of personal experiences with death that Nancy wished to avoid for as many others as possible; she touches on how this personal story affected her view and how it shaped Dyalogues’ mission.
[12:40] Nancy highlights the privileged position Family Enterprise Advisors find themselves in and the crucial role they can play in helping the flow of communication in a family. She shares some advice on how to word your support and guidance.
[15:30] Steve recaps the opportunities Nancy underlined, as well as the steps that were laid out for an advisor to follow.
[16:30] Dawn invites people who are less comfortable, or do not wish to develop fluency in this field, to identify and reach out to experts in this area.
[18:40] Steve shares how this resonates with him on a professional level and some surprising statistics he has heard before asking if the Dyalogues co-founders have some insight to share about them.
[20:42] Nancy shares her thoughts on the recent conference she participated in with Millennials and how it should help shape discussions we begin about death or dying.
[22:00] Steve asks if Nancy can share some background on “The Elephant in the Room” talk she gave at the Purposeful Planning Institute Conference in Denver.
[23:59] Creating permission to start a conversation is the key to breaking down the taboos and building meaningful plans around death that grow and change with the individuals.
[27:00] Nancy and Dawn share what services are offered by Dyalogues, including the ones specifically tailored to advisors.
[29:40] While macroscopic cultural differences exist when it comes to engaging or avoiding death and the conversations around it, the necessity for preparation remains the same since each relationship is its own cultural ecosystem.
[31:40] Nancy and Dawn share their parting tips.
[33:18] Steve thanks Dawn and Nancy for their time and experience and invites listeners to subscribe and tune in for the next episode.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Dyalogues
Purposeful Planning Institute
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
More about our guest
Dr. Dawn M. Gross, M.D. at Dyalogues
Nancy Belza at Dyalogues
Introduction
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
Description
Today we are very lucky to hear from Thayer Willis, author, speaker and practicing psychotherapist, who gives her unique understanding of the pressures of joining the family business.
Thayer was born into the Georgia-Pacific Corporation founding family and brings an insider perspective to helping family members grappling with the decision: do I join the family business or not?
Guest bio
Thayer Willis is an internationally-recognized author and expert in the area of wealth counseling. Since 1990, she has specialized in helping people of all ages handle the psychological challenges of wealth. A member of the founding family of the multibillion-dollar Georgia-Pacific Corporation, Thayer offers an insider's perspective on the challenges that wealthy families face on a regular basis.
Thayer has been interviewed on ABC's Good Morning America and 20/20. Her programs are tailored to individuals and families of affluence, financial professionals, family office advisors and estate planning attorneys.
Key Takeaways
[0:16] Ruth introduces Thayer Willis, her background and publications, and invites her to speak about her own story growing up in a wealthy family.
[7:00] Thayer speaks to the advantages of family businesses, but she also speaks to the pressures of joining them and some of the disadvantages younger generations face.
[12:52] In order to help families grapple with whether or not to join the family business, Thayer lays out a few important steps that advisors can follow.
[16:06] Thayer shares five to six pertinent questions to ask young family members — starting at about 12 years old.
[17:46] Assessments can also be of great use; Thayer lists a few of the ones she has in her tool bag — links below.
[19:28] Going into a family business should never be a default position, everyone has the right to consider what it is they want to do for themselves.
[20:55] Thayer agrees that going to work outside the family business is a very useful step towards deciding if and when they do come into the family business.
[22:23] Ruth takes a moment to summarize Thayer’s recommendations, and Thayer shares a personal story.
[26:29] Thayer shares some books that have made an impact on her.
[28:30] Thayer offers up tips on how to have a stress free holiday.
[32:10] Ruth thanks Thayer for her time and experience and invites listeners to subscribe and tune in for the next episode.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Book: Navigating the Dark Side of Wealth: A Life Guide for Inheritors,
by Thayer Cheatham Willis
Book: Beyond Gold: True Wealth for Inheritors, by Thayer Cheatham Willis
Assessments:
DISC
Enneagram
StrengthsFinder
Johnson O’Connor
Thayer’s book suggestions:
Grit: The Power of Passion and Perseverance, by Angela Duckworth
Make It Stick: The Science of Successful Learning, by Peter C. Brown, Henry L. Roediger III, and Mark A. McDaniel
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
More about our guest
Thayer Willis’ website
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients.
What do Family Enterprise Advisors need to know about trusts? Hartley Goldstone shares the most important aspects of a trust, which he has learned over 30 years of experience.
He also shares some valuable, actionable tips for advisors who will undoubtedly come across trust situations in their practice.
Guest Bio
Hartley is a seasoned expert in the arena of trusts and has 30 years experience as a trust attorney and senior trust officer until 2009, when he set up his company, The Trustscape LLC, which focuses on helping clients create supportive trust cultures. In 2010, Hartley launched the Beneficiary and Trustee positive story project which culminated in his book Trustworthy, a collection of 25 stories capturing what has gone well in the trustscape. He is the lead author on the seminal work Family Trust, a practical guide on how to use trusts to pass on wealth.
Key Takeaways
[0:16] Ruth introduces Hartley Goldstone, his background and publications, and invites him to define the term Trustscape — a fluid system of relationships — that he himself coined.
[7:22] From being an attorney to understanding that it all boils down to relationships: Hartley shares a fable that illustrates how he came to understand what hopes and dreams have to be addressed in a trust.
[11:25] Hartley speaks to the long history of trusts, all the way back to the middle ages and how they relate to relationships.
[15:20] Ruth talks about James E. Hughes Jr.’s comments on the staggeringly high number of trustees reporting that they are unhappy with their trust. Hartley touches on some beneficiary and trustee realities that could explain those numbers.
[19:46] Hartley shares his vast experience in the form of six actionable ideas that advisors can use with their clients:
- Choose a meaningful title
- Create a preamble
- Include letters of wishes to beneficiaries and trustees
- Distribution committees
- Education
- Read Trustworthy
[37:09] Ruth summarises the key elements Hartley shares during this interview and asks Hartley to share some reading suggestions.
[42:33] Ruth thanks Hartley for his time and experience and invites listeners to subscribe and tune in for the next episode.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Book: Family Trusts: A Guide for Beneficiaries, Trustees, Trust Protectors, and Trust Creators, by Hartley Goldstone, James E. Hughes Jr., and Keith Whitaker
Book: TrustWorthy: New Angles on Trusts From Beneficiaries and Trustees, by Hartley Goldstone and Kathy Wiseman
Hartley’s author suggestions:
James E. Hughes Jr.
Dr. Robert A. Emmons
Heidi Grant Halvorson
Dr. Dan J. Siegel
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
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FEX on LinkedIn
FEX on YouTube
More about our guest
hartley@navigatinvthestrustscape.com
Hartley Goldstone’s website
Tweetables (edited)
“The trustscape consists of everybody touched by a given trust from the creators, trustee beneficiaries to the advisors.” — Hartley Goldstone
“Trusts have focused on relationships from the very outset, from the time they originated in England in the middle ages.” — Hartley Goldstone
“Trusts solve problems and create relationships.” — Ruth Steverlynck
“People think that trusts are legal structures that happen to involve human beings, but actually trusts are human relationships that happen to sit within a legal structure.” — Hartley Goldstone quoted by Ruth Steverlynck
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors (FEAs) in supporting their clients.
Myra Salzer is the Founder of The Wealth Conservancy and has been repeatedly listed among top financial advisors in the U.S. by Worth Magazine.
Myra joins host Ruth Steverlynck to share her insight and knowledge on working as an advisor for inheritors. She shares tips, best practices and what to consider when building relationships with this often underserved and misunderstood clientele.
Key Takeaways
[0:16] Ruth introduces Myra Salzer — known as the inheritors’ advocate — and asks her to explain what an inheritors' advocate is.
[3:12] There has been a rise in resentment against the wealthy and Myra touches on how this has affected inheritors and what emotions she usually sees in new beneficiaries. She also shares tips on what advisors should check, in themselves, in order to do their jobs well.
[5:34] Hostile envy is a phenomenon that can manifest itself in some individuals in direct relation to their own relationship to money and can be very destructive to inheritors. Myra also gives her definition of minorities, how inheritors do fall within those parameters and why they require an advocate.
[8:26] Myra shares her experience on how to best work with inheritors from an advisory perspective, as well as the biggest pitfalls to avoid, the first of which is to work on being aware of your own prejudices and find ways to circumvent them in order to prevent dehumanizing your clients.
[14:09] So you’ve found that you do have some biases and latent prejudices? Myra explains how relying on other people or teams to better serve your client may be the best way to move forward in that relationship.
[15:36] Myra offers a workshop for inheritors as many tend to hide their wealth and try to fit in. She shares the story of when she realized how alone this minority group was and how helpful this workshop can be.
[23:03] Advisors should also have a place to safely talk about their experiences and bounce ideas off of other experts and meet new resources.
[24:00] For listeners who are interested in this topic, Myra recommends a book, her TEDx talk and her workshop, all of which are linked below.
[25:45] Ruth thanks Myra for her time and experience, then invites listeners to subscribe and tune in for the next episodes.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Myra’s resources
- Workshop: Inheritors of Wealth Workshop
- Myra’s Books
- Myra’s TEDx Talk
- Book: The Cycle of the Gift: Family Wealth and Wisdom, by James E. Hughes Jr.,
Susan E. Massenzio, and Keith Whitaker
More about the Family Enterprise Xchange
- Family Enterprise Xchange (FEX)
- FEX on LinkedIn
- FEX on Facebook
- FEX on Twitter
More about our guest
- Myra Salzer at The Wealth Conservancy
- Myra Salzer on LinkedIn
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family enterprise Advisors in strengthening their clients.
This episode explores the idea of character. Your host Ruth Steverlynck is joined by Greg McCann, family business owner, Founder, Principal, and executive coach of McCann & Associates, a consulting firm for family enterprises.
Key Takeaways
[:16] Ruth introduces Greg and invites him to talk a little bit about his background.
[3:00] Ruth and Greg define character for the purposes of this podcast and its double importance for family enterprise advisors.
[5:58] Is there any research to substantiate this idea that families are looking for more than just expertise?
[11:07] Because this is a very introspective process, Greg suggests four gears to modulate in order to better your practice as an advisor.
[16:07] The 30-second rule.
[18:13] Ruth summarizes the four gears: problem-solving, feedback, coaching, and validation.
[20:27] Greg shares some tangible practices for working on your character: create some white space for yourself, find someone neutral who can give you feedback, find someone to listen to you.
[25:25] Greg shares additional resources for listeners.
[26:46] Ruth thanks Greg for his time and experience and invites listeners to subscribe and tune in for the next episodes.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Greg McCann & Associates
Book: When Your Parents Sign the Paychecks: Finding Success Inside or Outside the Family Enterprise, by Greg McCann
Book: Who Do You Think You Are?: Aligning Your Character And Reputation,
by Greg McCann
Family Office Exchange
Center for Creative Leadership resources on feedback
Myers & Briggs
Book: The Road to Character, by David Brooks
Book: Wherever You Go, There You Are: Mindfulness Meditation In Everyday Life,
by Jon Kabat-Zinn
More about Family Enterprise Xchange
Family Enterprise Xchange
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FEX on YouTube
More about our guest
Greg McCann’s bio on Greg McCann & Associates
Greg McCann at Cornell’s SC Johnson College of Business
Greg McCann on LinkedIn
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family enterprise Advisors in strengthening their clients.
This episode explores the book Wealth of Wisdom: The TOP 50 Questions That Wealthy Families Ask. Your host Ruth Steverlynck is joined by Tom McCullough, Principal and co-Founder of Northwood Family Office as well as co-author of Wealth of Wisdom.
Key Takeaways
[:16] Ruth introduces Tom McCullough and asks him to share a bit about himself.
[1:58] Tom talks about where the idea for the book come from.
[3:42] Of all the questions that could be asked, how did Tom whittle it down to 50?
[5:15] Tom shares the questions he found most interesting through this process.
[6:20] wealthofwisdombook.com
[6:52] What are the best practices that came from the experts Tom consulted for the book? Two things stood out for him: on values and parenting.
[11:54] This book can be used by advisors as a resource to get more knowledgeable on technical aspects they may not already have in their background, legal, practical or otherwise, as well as a starting point to dig deeper into some aspects.
[13:57] On the Prince Charles syndrome, the fact that you can contact the book’s experts, and Tom’s favorite part: the end-of-chapter questions.
[16:58] Even after 35 years of work, Tom was surprised at the amount of cooperation he got from the world experts he reached out to.
[18:58] Tom on the many communication styles he got to see while preparing the book from very discreet to very blunt and the way it complements the many learning styles.
[20:51] The surprising way the first and last chapter bookended.
[23:07] Tom’s advice for advisors: ask questions, what are the five whys.
[27:02] Ruth asks if there are any ideas for another book by Tom as well as any reading suggestion he may have for our listeners.
[30:22] Ruth thanks Tom for his time and experience and invites listeners to subscribe and tune in for the next episodes.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
Book: Wealth of Wisdom: The TOP 50 Questions Wealthy Families Ask co-authored
by Tom McCullough
Northwood Family Office
Book: The Investment Think Tank: Theory, Strategy, and Practice for Advisors
by Harold Evensky
Keith Whitaker
Wigmore Association
Charles Collier
Christine Lagarde
Book: Complete Family Wealth, by James E. Hughes, Susan E. Massenzio,
and Keith Whitaker
Book: Made to Stick: Why Some Ideas Survive and Others Die, by Chip Heath
and Dan Heath
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
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FEX on LinkedIn
FEX on YouTube
FEX on Instagram
More about our guest
Tom McCullough’s bio on Northwood Family Office
tm@northwoodfamilyoffice.com
Tom McCullough at the Rotman School of Management, University of Toronto
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family enterprise Advisors in strengthening their clients.
Description
This episode explores the often difficult question of mental health issues in family enterprises.
Your host Ruth Steverlynck is joined by Arden O’Connor, principal and founder of O’Connor Professional Group, a concierge behavioral health firm based in Boston Mass.
Key Takeaways
[:16] Ruth introduces Arden and invites her to talk a little bit about her background.
[3:40] During any given year one in five adults will experience some form of mental illness, Ruth asks Arden her perspective on this sobering statistic.
[5:18] Ruth and Arden discuss why it could be that, given these very high statistics, very few people actually talk about these issues, and how this dialogue has been evolving.
[8:16] At what point does “feeling a little down” turn into mental illness, and when should it be categorized as such? Arden talks about some definitions.
[10:26] Are there any red flag behaviors to watch for in terms of mental health? Arden dives into some things to watch for, as well as how to best offer support in these situations.
[15:20] Arden offers a wide variety of practical tips for advisors who might need to approach the subject of mental illness with a family.
[23:31] Are there different approaches to take when the issues are coming from the wealth creator? How can an advisor help when there is a power discrepancy in the relationships?
[28:30] Are all mental illnesses treatable?
[30:38] In the situations where you do have a person who is unwilling to get treatment, does your focus need to revert to supporting the other members of the family?
[33:07] Arden shares the impact she has seen for a family system where there is a mental health issue and nothing is successfully done.
[35:40] Are there any resources for advisors to learn more on how to best support families who are struggling with these issues?
[38:37] Arden recommends a few books, articles, and ways to contact her personally for specific questions.
[39:49] Ruth thanks Arden for her time and experience and invites listeners to subscribe and tune in for the next episodes.
Mentioned in this episode
Let’s Talk Family Enterprise podcast is brought to you by Family Enterprise Xchange
O’Connor Professional Group
ADLs (Activities of daily living)
Family systems therapy
DBT (Dialectical behavior therapy)
Book: Addiction Recovery: A Family’s Journey, by Diana Clark
Contact Arden with specific questions:
617-290-9818
aoconnor@oconnorpg.com
More about Family Enterprise Xchange
Family Enterprise Xchange
FEX on Facebook
FEX on Twitter
FEX on LinkedIn
FEX on YouTube
FEX on Instagram
More about our guest
Arden O’Connor at O’Connor Professional Group
Arden O’Connor on LinkedIn
