Help Others & Build Character

April 14, 2022Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Helping other people is powerful. One of the main concerns of families I work with is how the financial success of the family will affect the rising generation. They are particularly concerned about the potential negative effects. I’ve worked with families for many years; family has been my area of focus in many realms. I’ve worked in different roles with some of the wealthiest and poorest families in America. I’ve consistently witnessed when families (regardless of their level of wealth) Read more »

Wet Leaves and Humility

December 5, 2021Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Stories of fatherhood can be embarrassing. They are often instructive. For me, this tale has been both. I’m a parent to sons ages 23 (Jeremy) and 20 (Matthew). The older and wiser they get, the less intelligent I seem to be. I’m getting used to it. We have a pool in our backyard and we closed it for winter in late September. It has a huge tarp over it. In NJ this time of year, there are lots of leaves. Read more »

Toddlers and Wealth Stewardship

September 20, 2021Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I’ve seen quite a bit in my work with families who share complex assets across generations (businesses, real estate, investments, trusts, foundations…) And I continue to find support, from families and professionals who serve them, for my ideas and creative strategies for developing stewards at the youngest of ages – before they are born and during the first few years of life. Before birth? Yes. Couples can clarify the meaning of wealth and how they hope it will serve future Read more »

Inheritor’s Wisdom

June 24, 2021Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I was recently speaking to a client who received a significant amount of money from his parents upon graduation from college. He lived simply during college, starting in your average dorm and moving on to sharing an old house (without air conditioning or other upgrades) in a worn-down, high crime neighborhood with a bunch of friends. He also worked very hard earning degrees in a fine art and finance. He always struck me as humble and kind, frequently looking at Read more »

Family Business South Dakota Style

April 17, 2021Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

On April 29th, I’ll be presenting at the  Prairie Family Business Association’s 29th Annual Conference . I presented in 2015 and love the state of South Dakota and wish I could be there in person this year. The conference is a hybrid and I’ll be virtual. The good news is, wherever you may be located, you can join this great conference with excellent content and more than 400 attendees. I’ll be speaking about raising children in the context of a family business (FB) – a topic I’m Read more »

Teens Role in Family Spending Decisions?

January 13, 2021Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

I was captivated by a recent Wall Street Journal article entitled, “Should Parents Involve Their Teenagers in Big Spending Decisions?” The article featured two financial advisors with opposing views on this question. I thought I’d weigh in. Lazetta Rainey Braxton, co-CEO at 2050 Wealth Partners in New York, basically says that “if done right, it can be empowering and educational,” while Michelle Perry Higgins, a financial planner and principal at California Financial Advisors in San Ramon, Calif., says teenagers shouldn’t have a say in these decisions. Ms. Rainey Braxton is basically taking the tack Read more »

Ethical Wills – Share Your Love and Wisdom!

August 13, 2020Family Business Consulting, Family Wealth Consulting

Several years ago, I wrote about ethical wills. While they sound “legal”, they are not legal documents at all. An ethical will is a letter to children, grandchildren, really any loved ones, written to express wisdom, values, life lessons. It is a way to transfer non-financial/non-material wealth. Best shared when the writer is still alive, there can be invaluable interaction between the writer and recipients. I found the process of writing my own (shared in the blog several years ago) Read more »

Article with Merrill Center for Family Wealth

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

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 more or less, Read more »

Thanksgiving in August???

November 26, 2019Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Friends and Colleagues, The Thanksgiving/holiday season is upon us and I have made a donation in honor of all of you to the Trenton Area Soup Kitchen (TASK). Rather than cards or pies or gifts (which are all really cool) I decided to write to you here and send money to TASK to make an impact on the issue of hunger – an area important to me. I’ve been volunteering monthly for over 10 years at TASK and am always moved by how the 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 »