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Intergenerational Risk & Resilience

By Articles, Familosophy, LinkedIn No Comments

#Intergenerational necessity, vulnerabilities, and resilience are typical factors addressed in determining wealth transition. However, adapting to the changing demands, expectations and opportunities in the disruption via #pandemic will epically force family businesses to rethink their strategies. The immediate need for #workfromhome, revised #familybusiness strategy, #riskassessment, and governance are paramount for pivoting to #nextgeneration and #futureofwork organizations. In the UK, the final report by the Intergenerational Commission speaks in terms of an intergenerational contract – “the principle that…

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How to Avoid the Impact of Social Distancing by David Werdiger

How to Avoid the Impact of #SocialDistancing

By Articles, Familosophy, Featured Posts, In The News, LinkedIn, Speaking No Comments

With many people forced into #remotework and/or #shelterinplace, it is essential to understand the impact of the family dynamic on a business. Besides the obvious space and time-management issues, conflict in family business happens differently, therefore must be resolved differently. Disputes within a family don’t escalate suddenly. They are often built on years of relationship sentiment that is latent or suppressed. With the current #pandemic the triggers for those conflicts can easily be fast-tracked and…

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Tips to Avoid Choosing Business over Personal Relationships

Tips to Avoid Choosing Business Over Personal Relationships

By Articles, Familosophy, LinkedIn No Comments How many people have put their business life ahead of their spouse or relationship to its great detriment? While we can think of a business as a the living thing, unlike a spouse or a family member, it isn’t a sentient being. It won’t get mad at you if you don’t spend enough time with them. It won’t give you attitude. You can decide what you want the relationship with your business to be…

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Talking about wealth by David Werdiger

Talking About Wealth; Navigating Communication with Heirs

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Most people with wealth to pass on have never talked to their heirs about how they plan to distribute their assets after they die because they consider the information too personal, according to a recent survey. In six out of 10 families, there is no process in place to ensure family wealth decisions are made and communicated effectively (from another survey). This is actually no surprise, because these sorts of discussions are among the most…

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Family Vision, Dubai

Family Vision; Founding Fathers, Rising Generations

By Articles, Familosophy, Featured Posts, LinkedIn, Speaking No Comments

I’ve recently returned from a speaking engagement at a conference in Dubai, which was my first visit there. As I walked around the city and particularly the mall, I pictured “founding father” Sheikh Al Maktoum just a few decades earlier looking out on a desert, and imaging a future that few others could imagine. Creating modern Dubai took a huge amount of money and some outstanding engineering, but the most important ingredient was … vision….

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IS SKIing a Succession Strategy

Is Spending Your Kids Inheritance ‘SKIing’ a Succession Strategy?

By Articles, Familosophy, LinkedIn No Comments

Whether you choose to spend your kids inheritance, gift assets or you prefer to hold money back for the kids, managing what you leave behind can be done a few different ways. There is no right way, and there should be no pressure to choose one direction or another. Your life, your money! Mass media will always jump on stories that seek to challenge and debunk commonly accepted narratives. CNBC is running a story suggesting…

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millenial impact research

Generational Labels, Stereotypes and Theory

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The millenial impact research has illuminated a much more caring generation than generally believed, one that is complex in their depth of passion toward causes. The ongoing debate about ‘generation wars’ will never stop, but here’s an interesting take on this from Slate Magazine, which claims that research on generations is flawed. Statements like “baby boomers are selfish” and “millennials are narcissists” abound, but where is the science to support this, it asks. While…

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My Successful Father Intimidates Me by David Werdiger

My Successful Father Intimidates Me

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Consider This: In high-net worth families, how large do patriarchal figures loom? Do the second generation feel the challenge of achieving more than their fathers insurmountable (I certainly felt that way)? What can both generations do to mitigate those negative feelings? Now, here is some real research on generational difference. According to a study by Oxford University academics, men who surpass their parents’ qualifications report lower levels of psychological stress, while those who do worse…

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social media generations by David Werdiger

Social Media Generations – Baby Boomers vs Millennials

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I stumbled across a wonderful article that deals with the intersection of two of my favourite topics: intergenerational issues and the impact of social media on society. It analyses the starkly different ways that Facebook is used by Baby Boomers, as opposed to Millenials. It comes from a web site called The Cheat Sheet, which is “dedicated to providing audiences the information they want in an approachable, entertaining way”. But looking at the content and the…

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Is Your Business Sale-Ready? by David Werdiger; Family Wealth Report - Wealth Briefing

How Sale-Ready Is Your Business? Three Essential Steps

By Articles, Clearview Financial Media, Familosophy, Featured Posts, In The News, LinkedIn No Comments

For a business founder, their ”investment” in the business is multi-dimensional: financial and emotional. Selling the business isn’t just an event, it’s a journey. So argues the author of this article, an author, advisor and figure in the wealth management industry. There is a lot of commentary at the moment about business owners selling and transferring what they have built. It is an emotional and challenging process and the field is littered with stories of…

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