In The News Archives. Actionable Intergenerational Wealth Planning Practices - David Werdiger
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In The News

Rising Gen Entrepreneurship and ESG

Rising Gen Entrepreneurship & ESG

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

Successful entrepreneurs are often control freaks. But they can’t control whether their children can take over the business or the assets and keep them growing. Entrepreneurs may be visionaries, but sometimes it takes an external advisor to identify choices that they might otherwise overlook. Transferring full control of an operating asset to children isn’t the only option. Neither is continuing the way things have always been done just for the sake of it. The drive…

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Exit planning for advisors

Risks for Advisors and their Clients

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The cobbler’s children go barefoot: Advisors don’t spend enough time thinking about their own succession and exit planning. Like most people, many are too involved in the day-to-day work. But like family businesses, exit planning for advisors is not just a financial transaction, but is also the chance to leave a legacy.  The wealth management industry is ‘old’ – the average age of financial advisers today is about 55, with 20% of them 65 or…

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Avoid the Impact of Round II Social Distancing

Avoid the Impact of Round II #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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NPR Podcast on Political Preferences and Family Business

NPR Podcast on Political Preferences and Family Business

By | Articles, Familosophy, Featured Posts, In The News, LinkedIn, Personal Blog | No Comments

Here’s another goody from the archives. With the US elections in the news, there is talk of generational shifts in the electorate (which will take some time still to have a significant impact), and with the further polarisation within the US, the way political affiliations have come between friends and family members. This fascinating NPR podcast discusses how political preferences are driven by hidden moral frameworks. The nation is often described using the family as…

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Perspective for family business and covid grieving

Grieving 2020

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

The pandemic is not over, but after nearly a year, we know a lot more, and there are reasons for hope. There are feelings of ambiguous loss, of knowing we can’t go back (and perhaps not wanting to), but missing who we were and what we had “before”. As 2020 draws to a close, we may be catching up with family, in some cases after being separated for a long time. It is a time…

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wealth transfer woman succession attorney

Wealth Transition

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

A successful wealth transition means the family stays intact and they maintain control of the assets. Ideally, you’d like both. Some families can only achieve one, and some end up with neither. People often setup their estate plan so that it will avoid tax and preserve wealth, but they’re really not paying attention to the impact of their plan on the next generation. The biggest risk to their assets is not the market or the business or…

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Is your business sale ready

Are you prepared to sell your business? Sale readiness tips.

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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Gender in Family Wealth

Gender in Family Wealth

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

There are several good reasons why family enterprises should care about making active efforts toward gender equity. If they want family members to be involved, their talent pool is limited, so why waste 50% of their potential? A more diverse leadership team will reap the same benefits that have been noted in the non-family business world. Finally, family cooperation, collaboration and harmony are important to families, so excluding women from paths to leadership can lead…

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Family Office COVID Challenges and Opportunities

COVID Challenges & Opportunities

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

Different places around the world continue to deal with the challenges of COVID in different ways. Whether they are experiencing a second wave, or varying degrees of opening up, many of the challenges and opportunities are still present. The issues that have arisen through the pandemic are primal, and place the fragility of life in sharp relief. Our instinctive responses also also primal: fight/flight/freeze, and we can remain locked in such states for a prolonged…

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Challenges in Family Business Succession

Challenges in Family Business

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

Studying failure is far better than studying success because it’s easier to avoid doing the wrong things than mimic the good that others are doing. Here are some of the ways things can go awry: Families and businesses don’t grow at the same rate. From the third (and sometimes second) generation onwards, the family often grows faster than the business. What happens if many family members look to the business for employment or supplementary income?…

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