Article with Merrill Center for Family Wealth

May 27, 2020Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

This past week I consulted with a grandfather who achieved a high level of financial success (and also had a lot of emotional intelligence and love for his family) and with his daughter and her husband who have a two and a half year-old. The grandfather attended a workshop I gave about raising children in a family business/wealth context and thought his daughter and son-in-law would benefit from some ideas and coaching. The daughter said early on in the conversation Read more »

Raising Family Business Kids – Free Workshop

April 28, 2020Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Hi Friends/Colleagues, I’m facilitating a free, virtual workshop about raising children in the context of a family business. The workshop is in coordination with NYCFEC (NY City Family Enterprise Center) and is intended for business families in the greater NYC area. Tuesday, May 5th, 2020 – 4 pm – 6 pm. Come as my guest for no fee using code – JS051 – at checkout. This is a small, personal and highly interactive workshop – learning and fun. Feel free to share this with anyone who Read more »

Kids and the Coronavirus Pandemic

April 18, 2020Family Business Consulting

Young children are so capable of understanding complex ideas and feelings if you communicate and interact on their level. Parents who haven’t taken the time or effort to properly introduce their children to the realities of the family business inadvertently sow the seeds for later problems. Many of the tragic situations I run into in the world of family businesses could have been managed and even prevented with some thoughtful parenting. One of my favorite speaking, writing, and coaching topics Read more »

Forever 21

February 23, 2020Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Do Won Chang and Jin Sook Chang created the retail chain Forever 21 from nothing when they came to the U.S. from South Korea. They built it to revenues of more than $4B at its height and had 43,000 employees. Their daughters, Linda and Esther, both received Ivy-league educations and were given high-level executive positions. Mr. Chang was CEO dealing with real estate and vendors and Mrs. Chang was heading up design and merchandising. At the end of last year, Read more »

Rock ‘N Roll & Family Business (Neil Peart)

January 19, 2020Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

If you’ve read any of these posts over the years, you know I like to connect rock music and family business one way or another. Earlier this month elite rock drummer Neil Peart, of Rush fame, died. I’ve been a Rush fan since 1980 and have been mesmerized by the speed and complexity of Peart’s drumming and the deep, meaningful lyrics for which he was mainly responsible. Often known as “nerd rock” or “cerebral rock,” Rush quoted Shakespeare and Ayn Read more »

Jeff Interviewed by Jane Scaccetti

October 24, 2019Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Jeff was interviewed by Jane Scaccetti of Drucker and Scaccetti – “The Tax Warriors .” Really more of a conversation between friends, sprinkled with great questions from attendees, they discussed wealth transfers within families. Please have a listen . Among the most significant insights for attendees was how early this process can begin and how little focus on “money” is necessary to set a solid foundation. As far as starting early, an example was given of how NOT to talk to a four-year-old about a family business (and how TO do Read more »

Upstate NY Family Business Day

August 25, 2019Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

My friend and colleague, Michael Palumbos of Family Wealth & Legacy, LLC , has founded the Upstate NY Family Business Group. The inaugural Upstate New York Family Business Day Symposium will take place September 24, 2019 in the greater Rochester, NY area. I’ll be giving an opening keynote entitled “Cracking the Family Business Code” in which I’ll address the opportunities and challenges of combining family and business. In addition, I will present my Metallica documentary-based session “What Your Family Business Can Learn from Metallica” in the afternoon, which is consistently my most highly rated session. Read more »

The Conversation

November 16, 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 »

Sharp Knives & Fire

October 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 in it and the individual moments lived and shared. Money can sometimes enhance those, but Read more »

Wealth, Privilege & Leadership

September 12, 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 interesting point about the unfair advantages children Read more »