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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 [email protected].Mentioned in this episode
The Happy Inheritor: How Successful Families Prepare Heirs and Transition Wealth, by Dr. Thomas William Deans
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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 [email protected].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
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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 [email protected].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.
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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 [email protected].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.
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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 [email protected].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.
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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 [email protected].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
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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.
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 [email protected].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
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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.
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 [email protected].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
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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.
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 [email protected].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
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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.
Description
In 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 [email protected].
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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 [email protected].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
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Dans cet épisode spécial, l'animatrice invitée Lianne Ulin s'entretient avec Olivier de Richoufftz, secrétaire général de la Fondation des familles entrepreneuriales, du dernier rapport de recherche sur la continuité par Fondation des familles entrepreneuriales, 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 [email protected]
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
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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 by Family Enterprise Foundation, 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 [email protected].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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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 Hokemeyer, 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 [email protected].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
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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.
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 [email protected].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
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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 [email protected].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)
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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 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 [email protected].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
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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.
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 [email protected].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
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FEC on LinkedIn
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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.
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 [email protected].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.
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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
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