Next generation

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 »

Resistance

May 27, 2021Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

Sigmund Freud was known for a lot of things. What most non-psychoanalysts are unaware of is his foundational idea of the importance of RESISTANCE – in psychotherapy and in life. Freud believed that as much as people seemed to be clear about what they wanted in life, they also often resisted getting it – usually in ways they were unaware of. Without getting lost in a rabbit hole of psychoanalytic theory, here is his basic premise: people are openly aware Read more »

Next Gen Development

February 23, 2021Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

When does a family business become a family business? Answers vary but usually include something to the effect of two or more family members owning a majority and having significant strategic influence over the business. One of the most common seeds of a family business (FB) is sown when the founder of a business decides to include other family members in ownership and leadership, whether now or in the future. While the founder can engage cousins, a spouse or other 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 »

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 »

Race and the Field of Wealth

September 10, 2019Family Business Consulting, Family Wealth Consulting, Wealth Psychology Consulting

*Note – as a white man I struggled with writing this blog post. Would I make a mistake, be insensitive, or offend, possibly in some way specific to my experience as a white male? Should I write it at all? For example, I needed to decide whether to use the term “African-American” or “Black.” I chose the latter based on feedback from three friends who identify as Black; two of them felt “African-American” was politically correct in a way 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 »

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 »

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