familyenterprise

Strong Families Survive Tough Times

What you’ll learn:

• Strong families major in the majors.  What are the majors?
• Why family meetings are a necessity and how to conduct a meaningful meeting.
• How to create a family entrepreneurial mindset and why most entrepreneurs fail at doing it.

This week’s guests:

Tom Rogerson*

Founder, GenLeg, Co.

Tom is a recognized leader and pioneer in family governance and legacy planning. He had the privilege of meeting Jay Hughes 25 years ago who inspired him to transform his practice from “Preparing the Money for the Family” to “Preparing the Family for the Money.” Using his Six Steps to Healthy Family Governance, Tom has worked with over 250 families facilitating transparent communication, entrepreneurial motivation, philanthropic vision, legacy planning, succession development and then endowing the process for the future, all to create a life-long bond to last generationally.

A few years ago Tom teamed up with his wife, a certified relationship coach, and started GenLeg Co., Inc. Together they provide guidance and education to families and their advisors, helping them transition significant capital, both financial (tangible) and human (intangible), from one generation to the next.

Prior to starting a private practice, Tom was with Wilmington Trust, bringing his family governance and wealth management expertise as both a speaker and motivator to not only families but to Wilmington’s client facing teams, helping them integrate Family Governance into the fabric of the client relationship. Previously, Tom was Managing Director of Family Wealth Services for BNY Mellon, National Director of Estate Tax Planning with State Street Global Advisors, and Director of Financial and Estate Tax Planning with Coopers and Lybrand. He holds a bachelor’s in Economics from Ithaca College.

Tom has spoken for The World Presidents Organization, Harvard University Business School, Tiger 21, The Lincoln Center, Yale University, Dallas Theological Seminary, Vistage, Museum of Modern Art, The Nature Conservancy, New York Botanical Garden, The Dallas Foundation, The New York Community Trust, The Boston Foundation, Heckerling, numerous estate planning councils, as well as many other organizations.

Shawn Barberis*

Founder, Aspida Advisory

For over a decade, Mr. Barberis has served families and small businesses. Though he is astute, exacting and detail-obsessed, don’t let him fool you. Shawn is a visionary, thriving on enthusiasm, humor and the company of like-minded individuals dedicated to hard work and financial ingenuity.

Aspida Advisory is an independent financial advisory firm through our Registered Investment Advisory Firm, Aspida360. We work with you to determine what is in you and your family’s best interests. The retirement Income Survival Kit (R.I.S.K.) analyzes the risks we face in retirement, and provides recommendations of income solutions that address each of your personal retirement risks. A+LIFE maintains the granite pillars of financial and estate planning while integrating the unquantifiable values of legacy and one’s life’s experiences.

*Not affiliated with Lincoln Financial Advisors Corp. 

You don’t want to miss it!

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CRN-3330151-111320 

The content presented is for informational and educational purposes.  The information covered and posted are views and opinions of the guests and not necessarily those of Lincoln Financial Advisors Corp. 

Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.

Ten Critical Initiatives For Family Business Longevity

During this episode, you’ll learn:

1. How do you know when it’s time to grow the business, transfer it, or sell it?
2. What business strategies need to be implemented now to ensure future family business success tomorrow?
3. What are the common mistakes made in managing and then transitioning family businesses to the next generation?

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Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.

CRN-3275232-100820

Ten Critical Initiatives For Family Business Longevity

During this episode, you’ll learn:

1. How do you know when it’s time to grow the business, transfer it, or sell it?
2. What business strategies need to be implemented now to ensure future family business success tomorrow?
3. What are the common mistakes made in managing and then transitioning family businesses to the next generation?

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Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.

CRN-3275232-100820

4 Ways To Leverage Crisis To Strengthen The Next Gen

During this episode, you’ll learn:

1. Why sharing the company story means more today than any other time?
2. How to actively involve the next generation.
3. Actions you can take today, as the leader, to amplify the smarts and capabilities of the Next Gen.
4. The mindsets that are holding family business leaders back and contribute to failed transitions.

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Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.

CRN-3265189-100120

4 Ways To Leverage Crisis To Strengthen The Next Gen

During this episode, you’ll learn:

1. Why sharing the company story means more today than any other time?
2. How to actively involve the next generation.
3. Actions you can take today, as the leader, to amplify the smarts and capabilities of the Next Gen.
4. The mindsets that are holding family business leaders back and contribute to failed transitions.

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Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.

CRN-3265189-100120

Why Family Business Consultants Cry Themselves to Sleep
At Night

This week’s guests:

Ira Bryck, Family Business Advisor*

Ira Bryck helps leaders grow. He recently passed the torch, after 25 years as founding director of the Family Business Center of Pioneer Valley, that provides expert and peer learning through forums, workshops, consulting and roundtables. His new work includes coaching business owners, personality assessments for professional and personal development, and facilitating executive peer groups.

 

Jeff Savlov, Founder at Blum and Savlov*

Jeff is the Founder of Blum & Savlov, LLP and consults to business families, legacy wealth families and the advisors who serve them. He brings more than 30 years of unique experience in sales and marketing, business ownership, entrepreneurial endeavors and family dynamics/psychological training, along with a common-sense style, to his consulting work with families.

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Why Family Business Consultants Cry Themselves to Sleep
At Night

This week’s guests:

Ira Bryck, Family Business Advisor*

Ira Bryck helps leaders grow. He recently passed the torch, after 25 years as founding director of the Family Business Center of Pioneer Valley, that provides expert and peer learning through forums, workshops, consulting and roundtables. His new work includes coaching business owners, personality assessments for professional and personal development, and facilitating executive peer groups.

 

Jeff Savlov, Founder at Blum and Savlov*

Jeff is the Founder of Blum & Savlov, LLP and consults to business families, legacy wealth families and the advisors who serve them. He brings more than 30 years of unique experience in sales and marketing, business ownership, entrepreneurial endeavors and family dynamics/psychological training, along with a common-sense style, to his consulting work with families.

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Family Governance During the Covid-19

During this episode, you will learn:

• How what’s going on right now is a good test of family governance.
• The five silver linings of this crisis.

This week’s guests:

Ella Chase Hyland, Co-Founder Wellth Works*
Steve Legler, Family Legacy Advisor*

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Family Governance During the Covid-19

During this episode, you will learn:

• How what’s going on right now is a good test of family governance.
• The five silver linings of this crisis.

This week’s guests:

Ella Chase Hyland, Co-Founder Wellth Works*
Steve Legler, Family Legacy Advisor*

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Full show notes can be found at: successfulgenerations.com/episode078

In this episode we finish (for now) the conversation about getting started in family councils with expert Chris Eckrich. 

 

According to Chris, "a Family Council is a group that serves as an executive team or representative body of a broader enterprising family."

In Part 1 of this two part series, we talked about Getting Started. In this episode, Chris highlights 10+ best practices he gathered from his decades of experience working with multi-generational family enterprises. 

Chris's bio can also be found in the show notes. 

In this episode, Chris highlights: 

• Best practices
• Advice to those tasked with launching the family council
• Role of legal council
• Who needs to attend
• Ideal family council leader (according to Chris) 

Enjoy! 

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