Rock Bands and Family Business

May 20, 2019Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting
Rock Bands and Family Business

I am a fan of rock music and family business. When I find ways to combine the two, I do so. One of my most popular and best-received workshops for business families and the advisors who serve them uses clips from the Metallica documentary “ Some Kind of Monster ” ( available on Netflix ) to demonstrate the challenges and opportunities of the interplay of family and business. While not blood-related, the Metallica band members exemplify family ties. The emotional intensity of family closeness and the economic, Read more »

NY Times Quote – Client Interview

January 17, 2019Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting
NY Times Quote – Client Interview

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 »

The Conversation

November 16, 2018Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting
The Conversation

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
Sharp Knives & Fire

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
Wealth, Privilege & Leadership

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 »

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 hockey (two serious interests of mine) 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 goes to the heart of big decisions by removing money Read more »

Money Ain’t Everything

November 26, 2017Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Research shows higher childhood socioeconomic status (SES) tends to be associated with positive physical health later in life. There is even some research that many believe demonstrates that high SES (i.e., significant wealth and high social class) can take the place of warm parent-child bonds.  If correct, this means that even without close, healthy parent-child relationships, a high SES will lead to positive health later in life. However, research done last year by Matthew A. Andersson at Baylor University , shows that poor-quality parent-child relationships during childhood can negate the positive Read more »