Money Matters TV Interview

March 25, 2019Family Business Consulting, Family Wealth Consulting, Previous Events

Thanks to colleagues at Drucker and Scaccetti (D&S) for the invitation to “Money Matters TV.” Jim McGrory (D&S) hosted along with Paul Mitchell. My segment begins at 12:20 into the program (click here to watch the interview). Some of the topics addressed are: Raising children in a context of financial success Bringing the next generation into the family business (advantages to both next-generation family members and the business when the next generation gets outside experience before entering family business, and Read more »

Collaboration – Drucker & Scaccetti

February 20, 2019Family Business Consulting, Family Wealth Consulting

Collaboration among professionals is essential for business and legacy families. There is tremendous complexity involved in meshing the emotional/relational world of families with the economic realities of business and shared assets. No one profession can handle it all, and families benefit when their professionals work well together, egos set aside, to help families navigate their challenges and opportunities. I’ve tried to practice this myself as a member of a study group, originally affiliated with the Family Firm Institute, for ten Read more »

NY Times Quote – Client Interview

January 17, 2019Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

In the November 16, 2018 “Wealth Matters” column in the NY Times, Paul Sullivan wrote about his interview with me and one of my family clients. My thanks to Paul and a special thanks to the Buckwald family – David, Jennifer, Jack & Morgan for their openness (and for their hospitality to the Times photographer who became stranded at their home overnight in a snowstorm while David was stranded elsewhere and could not make it home until the next morning!) Read more »

Wealth, Privilege & Leadership

December 26, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Last month, Sam Walker, writing in The Wall Street Journal, took on the issue of privilege in the context of Brett Kavanaugh’s testimony on Capitol Hill. I am not going to offer my opinions here about Kavanaugh and the hearings; Walker did not either. What Walker did address is the issue of how growing up in an affluent and “rarefied upbringing” might affect perceptions of leaders and how well they actually lead, especially when leading diverse teams. Walker makes an Read more »

Sharp Knives & Fire

December 26, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

My friend and colleague Pierre duPont, Partner at HPM Partners in New York City, recently wrote a great piece entitled, “Raising Children Into Wealth – Hungry, Productive and Compassionate.” I hope you will read it. One of his points really resonated with me and brought to mind the work I do coaching parents with significant wealth and working with them and their kids together: “…show your children that life is not about the things in it but about the people Read more »

The Conversation

December 26, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I recently received a referral from an attorney I’ve known for years. The referral was for a married couple who were both children of immigrants who valued education and had earned PhD degrees in science. They started a company that became wildly successful in terms of financial success and respect from colleagues and investors. The couple sold it for a large sum and when they decided to start another company, investors swooned and supplied cash. The couple had been having Read more »

A Candy Heir UPDATE

May 18, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

My June 2017 blog entitled A Candy Heir, the NHL and Next-Gen Passion, was based on a NY Times article about Nello Ferrara, heir to the Ferrara Candy Company (think Red Hots and Lemonheads among others). A few weeks after I posted the blog, I got an email from Nello himself. He came across the blog and it resonated with him; he asked if I’d like to call him and chat. We had a great conversation about family business and Read more »

Black Males, Wealth Depreciation & Racism

April 5, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I was born in 1966 to a mom who would have been a hippie or academic if she did not get married at 18 and start having kids so early.  My mom was passionate about her fight against oppression in all forms and impressed upon my sisters and me the importance of social equity for all regardless of race. The institution of slavery and its antithesis embodied in the Civil Rights movement, made it easy for a young kid like Read more »

Parenting as Governance

February 27, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Governance can be intimidating to business families and legacy wealth families who may not have operating businesses any longer but share and manage complex assets. This is especially true if they have not educated themselves about good governance and committed themselves to it. Governance is crucial for achieving both long term business/financial success and family harmony. Simply put, governance is coming together and getting clear about how decisions will be made, who will be involved with making decisions and in Read more »

NY Times Quote

January 9, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I’m thankful to Paul Sullivan of the NY Times for taking interest in my work and interviewing me for his December 29th Wealth Matters column, “Keeping the Family Tree Alive.” I’ve been fortunate in my career to have worked with a wide range of interesting families from very poor and even homeless, to extremely wealthy. One of my favorite questions for wealthy families struggling with a particular challenge is, “How would this be different if you were poor?” That question Read more »