Podcasts about family governance

family culture indonesia impacts governance family governance

Play Episode Listen Later Jun 26, 2023 25:30

Yirhan Sim shares on Family Governance, how culture impacts how we handle it About: Yirhan Sim, FFI Fellow, is a Single-Family Office Director in Indonesia. He was one of the founding executive committee members of the FFI Asian Circle Virtual Study Group. He assists family business owners with family governance, management, and ownership transition. Yirhan can be reached at thesims08@gmail.com.

Generational Success Through Family Governance

The Pulse

Play Episode Listen Later Jun 13, 2023 25:47

Family governance is a written and agreed-upon framework for communication and decision-making between family members who have shared assets over generations. That sounds simple, but it often involves considerable negotiation and agreement between everyone. When is the time right to put such a roadmap in place and why? We welcome special guest Molly Heaney, Director of JM Huber and Family Board Member, onto the show to talk about how family governance has benefited their multi-generational company. Then we talk to Emily Neubert, Director of Family Governance, about her research, conflict-resolution, and setting up a family for success. Listen now! To read more about Emily's research on Family Governance, here's the link: https://www.bernstein.com/content/dam/bernstein/us/en/pdf/whitepaper/Putting-Family-First-The-Power-of-Governance-in-Family-Offices.pdf Note to All Readers: The information contained here reflects the views of AllianceBernstein L.P. or its affiliates and sources it believes are reliable as of the date of this podcast. AllianceBernstein L.P. makes no representations or warranties concerning the accuracy of any data. There is no guarantee that any projection, forecast or opinion in this material will be realized. Past performance does not guarantee future results. The views expressed here may change at any time after the date of this podcast. This podcast is for informational purposes only and does not constitute investment advice. AllianceBernstein L.P. does not provide tax, legal or accounting advice. It does not take an investor's personal investment objectives or financial situation into account; investors should discuss their individual circumstances with appropriate professionals before making any decisions. This information should not be construed as sales or marketing material or an offer or solicitation for the purchase or sale of any financial instrument, product or service sponsored by AllianceBernstein or its affiliates. The [A/B] logo is a registered service mark of AllianceBernstein, and AllianceBernstein® is a registered service mark, used by permission of the owner, AllianceBernstein L.P. © 2023 AllianceBernstein L.P.

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Kate O'Leary: HBO's Succession from the Perspective of an Experienced In-House Lawyer.

Boardroom Governance with Evan Epstein

Play Episode Listen Later May 22, 2023 67:02

0:00 -- Intro.1:38 -- Start of interview.3:23 -- Kate's origin story and her professional background.4:54 -- About the ESG & Law Institute led by David Curran from Paul Weiss (Kate serves as an advisory board member).7:08 -- Premise of HBO's Succession show. "It's a show about power dynamics. But it's also a show about governance, and how power is or not constrained in the corporate world, the political world and within a family." "It is also a show about governance, which should operate as a constraint on abuse of power, if it's working effectively." "The show does a very good job in linking governance with shareholder value."10:30 -- The role of the board in CEO succession. Two issues: 1) Who should take over, 2) What's the proper timing. Also, how to handle health matters of current CEOs.15:24-- The role of the family (Trust) in governance matters of Roystar RoyCo.20:43-- The “Death Pit”. How should employees and officers react when they learn about serious misconduct? What internal controls are missing at Waystar Royco that would have potentially led to a different outcome? What are potential consequences of covering up past serious misconduct? The role of compliance and reporting channels in corporations. Caremark doctrine in Delaware ("once you know something, you have to act"). "The sin cake eater" advice. The SEC whistleblower program.27:51 -- On proper disclosure controls, and open reporting. Internal investigations. Ineffective training.30:56 -- On "disclosure committees" of material non-public information (link to the board's Audit Committee). Multi-functional committees (legal, finance, communications, IR, etc.) Theme throughout Succession (the show): "How do you make responsible decisions in the face of imperfect information?" "This show is like a giant final exam on governance."36:25 -- On the interaction between Legal, Finance, Communications, IR and PR. "Effective governance comes down to people, processes and policies: you need to have the right people in the room, an appropriate process for them to come together and make a decision, and policies that guide that decision making."39:18 -- On the role of the general counsel (played by character Gerri Kellman in the show). "Gerri is secret keeper for Logan, rather than gatekeeper as expected by SEC/DOJ. She helps to cover secret loan not authorized by Board, as well as “death pit” issues on cruise ships – counsels Tom to keep quiet." "She's such a compromised character. She's not effective at all."45:41 -- The deal with private equity (activist?) “friend” of Kendall, Stewy Hosseini (including board seats). "Kendall's big downfall is that he tries to be the same type of leader as his father [and he's also just not as good, he's not Logan]." The conflict of interests.50:31 -- The Vaulter acquisition (and Lawrence joining the board of Roystar RoyCo.). "There was no process around it." "The board would traditionally look at the deal strategically and in terms of price (ie. is this the right acquisition target; what are some of the other companies in this space; is this the right strategy; why this now, does it fit with where the company is going; what is the company like, etc.)54:31 -- Board vote on no-confidence motion against Chairman & CEO Logan Roy. What is appropriate process for this type of Board action against a CEO? "The corporate governance aspect that really stands out here is the lack of appropriate board process." How should the Board and GC have reacted Kendall's request for a delay and Logan's refusal to recuse himself? How else could/should situation have been handled? What special procedures might be appropriate given impact of family relationships on governance issues? How are these family relationships analogous to other kinds of relationships in corporations? What does this suggest to in terms of importance of robust procedures and controls? 1:01:00-- Other thoughts for directors from Season 1 of Succession:Litigation risks from M&A. Leadership.Company Culture.Government and Regulatory matters. Corporate Purpose and ESG (and political interplay).Kate O'Leary is the Global Executive Litigation Counsel at General Electric Company.__ You can follow Evan on social media at:Twitter: @evanepsteinLinkedIn: https://www.linkedin.com/in/epsteinevan/ Substack: https://evanepstein.substack.com/__Music/Soundtrack (found via Free Music Archive): Seeing The Future by Dexter Britain is licensed under a Attribution-Noncommercial-Share Alike 3.0 United States License

Führung und Family Governance (DE) #147

Bergos Now

Play Episode Listen Later May 19, 2023 19:55

Diese Woche sprechen wir mit Andreas von Specht, Gründer und geschäftsführender Gesellschafter von AvS, über die sich verändernde Landschaft der Führung und über Family Governance. DISCLAIMER Diese Publikation dient ausschliesslich Informations- und Marketingzwecken. Die bereitgestellten Informationen sind nicht rechtsverbindlich und stellen weder Finanzanalysen, noch ein Angebot für Investmenttransaktionen oder eine Anlageberatung dar und ersetzen keine rechtliche, steuerliche oder finanzielle Beratung. Bergos übernimmt keine Gewähr für die Aktualität, Richtigkeit oder Vollständigkeit der Informationen. Für den Eintritt der in der Publikation enthaltenen Prognosen oder sonstige Aussagen schliesst Bergos jegliche Haftung aus. Ohne schriftliche Zustimmung von Bergos dürfen die vorliegenden Information weder auszugsweise noch vollständig vervielfältigt werden.

Leadership and Family Governance (EN) #147

Bergos Now

Play Episode Listen Later May 19, 2023 21:25

This week we talk to Andreas von Specht, Founder and managing partner of AvS, about the changing landscape of leadership as well as family governance. DISCLAIMER This publication is for information- and marketing purposes only. The provided information is not legally binding and neither constitutes a financial analysis, nor an offer for investment-transactions or an investment advice and does not substitute any legal, tax or financial advice. Bergos AG does not accept any liability for the accuracy, correctness or completeness of the information. Bergos AG excludes any liability for the realisation of forecasts or other statements contained in the publication. The reproduction in part or in full without prior written permission of Bergos is not permitted.

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139 - When should you engage a Family Office?

Poised for Exit

Play Episode Listen Later Apr 6, 2023 25:03

When should you engage a Family Office? Our show today featured the Managing Director of the Trust Point Family Office, Christine Schmidt. Christine got her start as a CPA, working in the insurance industry. From there she spent 16 years working as an accountant for a large Family Office with many types of holdings. She learned a lot and decided it was time to find a new endeavor. She found Trust Point, and became a financial adviser. Just 5 years ago, she launched their Family Office department and has been growing it along with many new clients ever since. The primary role of a Family Office, she said, is to be the family's fiduciary advisor in all things having to do with the family; business included. Assisting in making a myriad of financial decisions, both personal and professional, working across generations. Trustee services, financial education for family members, wealth management, facilitation of family meetings, shareholder meetings, assembling and implementing Family Governance and philanthropic guidance are just some of the Family Office services at Trust Point. When is the best time to engage a Family Office? The answer is it can vary, but many times it starts with a family seeking a Trustee relationship. Legacy planning for the business is another driver. To learn more, contact Christine The interview was one of our best so far in 2023! Listen to it hereTrust Point will be sponsoring a women in business event on May 12, organized by Team Women. Christine will be there, so if you go, stop by and say hello! Click here for a link to registerConnect with Julie Keyes on LinkedInThank you to this month's sponsor! Sunbelt Business Advisors and Trust PointNEW, low price! Check it out!Business Readiness Transition online course #Keyestrategies

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Creating Multi-Generational Legacies for Family Businesses in Africa

Colloquium

Play Episode Listen Later Apr 3, 2023 40:30

What are some effective strategies for building successful teams and visionary leadership in multigenerational family businesses, and how can these be implemented in African contexts?In this episode, Tsitsi Mutendi shares her insights on the challenges facing African multigenerational family businesses. Drawing from her own experiences as an entrepreneur and consultant, she discusses the importance of education and collaboration within family businesses to ensure long-term success. She emphasizes the importance of creating safe and economically stable environments for investment and preventing further brain drain. Let's dive in!Tsitsi Mutendi is Founder and Lead Consultant at Nhaka Legacy Planning. She is also a Co-Founder at African Family Firms (A nonprofit Africa Family Business Association). Tsitsi is a well-versed, award-winning businesswoman with over 12 years of experience building her own successful software development, publishing, and education businesses. During this time, Tsitsi developed a passion for assisting family businesses to build multigenerational businesses, translating into multigenerational legacies. [00:01 - 07:51] Opening Segment• Tsitsi shares insights on multigenerational legacies in AfricaHer experience as a third-generation family business owner in Africa• The challenges faced by multigenerational businesses in AfricaLack of entrepreneurial knowledge and the education system[07:52 - 15:38] Family Governance in Multigenerational Businesses in Africa• What led to the breakdown of Tsitsi's family business• How cultural differences can impact conversations around death and estate planning• Africa faces a wealth gap and a need for entrepreneurial training and upskilling[15:39 - 23:14] The Impact of Brain Drain on Africa's Next Generation• Brain drain is a major issue in Africa, with many young people leaving for better opportunities abroadParents often send their children overseas for education, and they may not return• How the lack of government support and economic instability contribute to brain drain• Montessori education is seen as a promising solution for teaching children in Africa[23:15 - 30:49] The Montessori Method• How children learn and why traditional education falls short• Children come into the world with basic operating systems & learn by being in an environmentMontessori method emphasizes learning from the point of contact• Why not many families in Africa have family offices[30:50 - 40:29] Closing Segment• Growth has become a big issue on the continentThere's a need for more funding for services, goods, and development• Businesses are concerned about getting the right funding and investing in the right jurisdictionsWant to connect with Tsitsi? Follow her on LinkedIn, Twitter, and Instagram. Head to her website and discover more about building multigenerational family wealth!Resources Mentioned:Enterprising Families PodcastKey Quotes:“The conversation around death is most feared when they are issues that people don't feel they want to resolve.” - Tsitsi Mutendi“The Montessori...

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„Bei uns ist der Gesellschaftsvertrag die wirksamste Family Governance.“ Thomas Fischer, MANN+HUMMEL

Zukunft Familienunternehmen - Disruption. Transformation. Resilienz.

Play Episode Listen Later Feb 17, 2023 34:19

„Wir brauchen keine Familiencharta, weil wir das gegenseitige Abstimmen und das Festlegen von gemeinsamen Werten und Zielvorstellungen im Gesellschaftsvertrag abbilden“, sagt Thomas Fischer, der seit mehr als 20 Jahren dem Aufsichtsrat von MANN+HUMMEL vorsteht. Das Familienunternehmen wurde vor über 80 Jahren gegründet und ist heute einer der größten Anbieter intelligenter Filtrationslösungen der Welt. Als nützliche Besonderheit hat sich dabei die genau hälftig geteilte Verantwortung der beiden Familienzweige herausgestellt, erläutert Thomas Fischer im Gespräch mit Moderatorin Prof. Nadine Kammerlander von der WHU - Otto Beisheim School of Management. Er leitet den Aufsichtsrat als Vertreter der Familie Mann und ist ein Enkel des Mitgründers Adolf Mann. Seine Erfahrungen hatte Fischer vorher in Leitungsfunktionen bei anderen Firmen gesammelt, hauptsächlich im Bereich Automotive. Die Familie Hummel stellt mit Dr. Klaus-Peter Fouquet den stellvertretenden Aufsichtsratsvorsitzenden. Er war vorher mehrere Jahrzehnte lang in verschiedenen Leitungsfunktionen bei Bosch tätig. „Der Gesellschaftsvertrag regelt alles – zum Beispiel wer Bevollmächtigter werden darf, die Beteiligung der Gesellschafter, was an die nächste Generation weitergegeben werden soll“, sagt Fischer. „Wenn wir uns nicht einigen können, entscheidet der Münzwurf.“ Dies habe den Vorteil, dass beide Verhandlungsparteien bei unterschiedlichen Auffassungen von Maximalforderungen absehen würden, um den dann für einen der Familienzweige drohenden sehr nachteiligen Ausgang zu vermeiden. In welchen Situationen eine Familiencharta oder eine sonstige Regelung zur Family Governance Sinn macht, berichtet Dr. Patriz Ergenzinger. Als EY-Partner berät er Familienunternehmen und deren Gesellschafter, Familien, Stiftungen und Family Offices. „Oft entstehen schon Konflikte bei der Frage, wer überhaupt Kinder sind“, sagt er. Das könne man eng auslegen und nur leibliche Nachkommen als Kinder - also auch als Gesellschafter oder Erben - definieren. Aber es gebe Situationen, in denen Adoptivkinder oder Kinder aus Samenspenden ebenfalls eine Rolle spielen. Hier sei es von zentraler Bedeutung für das Überleben des Unternehmens, rechtlich verbindliche Vereinbarungen im Rahmen der Family Governance zu treffen. Gäste: Thomas Fischer, Vorsitzender des Aufsichtsrats, MANN+HUMMEL, Ludwigsburg Dr. Patriz Ergenzinger, Rechtsanwalt, Steuerberater und Partner bei EY Law GmbH im Bereich Private Client Services Moderation: Prof. Dr. Nadine Kammerlander, Leiterin des Instituts für Familienunternehmen und Mittelstand der WHU - Otto Beisheim School of Management Senden Sie uns gerne Fragen und Kommentare an: zukunft.familienunternehmen@whu.edu Mehr zu "Zukunft Familienunternehmen" finden Sie unter https://www.whu.edu/de/fakultaet/entrepreneurship-and-innovation-group/institut-fuer-familienunternehmen-und-mittelstand und zu EY unter https://www.ey.com/de_de/family-enterprise sowie unter https://www.ey.com/de_de/unlocking-ambitions-of-private-businesses-and-their-owners Mehr zu professional-podcasts.com finden Sie unter https://professional-podcasts.com

wir reden mit #10: Wer bin ich gerade? Familie, Rollen und Zusammenarbeit bei der USU Software AG

wir – Der Podcast für Unternehmerfamilien

Play Episode Listen Later Dec 5, 2022 23:11

Sohn, Gesellschafter, Co-CEO: Die verschiedenen Rollen, die jedes Mitglied einer Unternehmerfamilie zeitgleich haben kann, sind zahlreich – und häufig kollidieren sie miteinander. Damit hat auch Dr. Benjamin Strehl Erfahrung. Also Co-CEO bei der USU Software AG ist sein Job nicht nur die Führung des Unternehmens: Der Sohn des Mehrheitseigentümers und Aufsichtsratsvorsitzenden Udo Strehl ist zugleich das Bindeglied zwischen Vorstand, Kontrollgremium und Gesellschafterkreis. Wie gestaltet man so eine Mehrfachaufgabe? wir-Redakteurin Sarah Bautz hat für das wir-Magazin über die Stationen und Learnings von Dr. Benjamin Strehl auf dem Weg zur heutigen Zusammenarbeit mit seinem Vater geschrieben. Im Interview mit ihrem Kollegen Johannes Sill gibt sie bei "wir reden mit" einen Einblick in das Thema und die Arbeit der Redaktion. Den Bericht in voller Länge sowie viele weiteren Themen rund um Gesellschafterkreis, Unternehmerfamilie und Family Governance finden Sie in unserem Magazin – online, print oder als E-Paper – unter www.wirmagazin.de. Das "wir-Magazin" ist eine Publikation der F.A.Z.-Business Media GmbH – Ein Unternehmen der F.A.Z.-Gruppe.

wir reden mit #9: Zwei Familien in der Führung: Rollenverteilung und Familienarbeit bei der ifm-Gruppe

wir – Der Podcast für Unternehmerfamilien

Play Episode Listen Later Oct 10, 2022 24:03

Je älter und größer Familienunternehmen werden, umso mehr steigt die Angst vor der Spaltung. Was tun, wenn sich Teile der Familie auseinanderleben und örtlich und gedanklich immer weiter voneinander entfernen? – Hinter dem Essener Automatisierungsunternehmen ifm stehen seit der ersten Generation zwei Familie. Heute bilden die Gründer-Söhne Michael Marhofer in Essen und Martin Buck in Tettnang am Bodensee eine Doppelspitze. Teil Ihrer Strategie als Kollegen und Gesellschafter: eine klare inhaltliche und räumliche Trennung – und nicht zu viel Governance. wir-Redakteurin Sarah Bautz hat für die aktuelle Ausgabe des wir-Magazin mit den Unternehmern Martin Buck und Michael Marhofer über ihre Nachfolge und ihre Zusammenarbeit als ifm-Co-CEOs und Gesellschafter gesprochen. Im Interview mit ihrem Kollegen Johannes Sill gibt sie bei "wir reden mit" einen Einblick in das Thema und die Arbeit der Redaktion. Den Bericht in voller Länge sowie viele weiteren Themen rund um Gesellschafterkreis, Unternehmerfamilie und Family Governance finden Sie in unserem Magazin – online, print oder als E-Paper – unter www.wirmagazin.de. Das "wir-Magazin" ist eine Publikation der F.A.Z.-Business Media GmbH – Ein Unternehmen der F.A.Z.-Gruppe.

Securing Your Legacy with Proper Family Governance

Confidently Covered

Play Episode Listen Later Aug 1, 2022 32:44

Many of our clients are curious about what it means to be a high-performing legacy family. It's not just about having a successful multi-generation family business or reaching ultra-high net worth status. It's also not about publishing your family's memoirs for future great-grandchildren to read. These are all signs of success and great strategies to preserve your legacy but being a high-performance legacy family is about much more. In this podcast episode, Pete Walther welcomes Dr. Jeremy Lurey, consultant with The Family Business Consulting Group, to uncover several key strategies for securing your legacy and establishing a family office.

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How a Conversation with Gail Miller Led to 7,000+ Clients and TEDx

“What It’s Really Like to be an Entrepreneur”

Play Episode Listen Later Jul 29, 2022 21:20

Another week, another entrepreneur! We will discuss: Lessons learned from short term thinking, tips for new hires, when is time to walk away from corporate, strategies for creating an effective and enjoyable company culture, and so much more. Enjoy the show.A highly sought after speaker, he has spoken on the Ted stage as well as such groups as the Million Dollar Roundtable, Q Commons, the Purposeful Planning Institute, the Institute of Family Governance, and the Investment and Wealth Institute. David R. York is an estate planning attorney and CPA with more than 20 years of experience and has worked with over 7,000 clients, including billionaires and business owners, celebrities and sports figures, and entrepreneurs of all shapes and sizes. He has represented first generation wealth creators, fifth generation wealth maintainers, and everything in between. He has also worked with individuals, couples and families across the wealth spectrum and countless non-profits looking to make a difference in an all too broken world. Early on, David began to see common traits and characteristics of those who both make positive impacts in the world and who successfully transfer wealth, intentionality and purpose to the next generation and, sadly, those who fail to do so, often with tragic results.Professionally, David is a Certified Public Accountant and Fellow with the American College of Trust and Estate Counsel (ACTEC) and former Chair of the Utah State Bar Estate Planning Section. He has successfully represented clients before the Internal Revenue Service at all levels (Audit, Appeals, and Tax Court) and is a member of the Utah State Bar, the Alaska State Bar, and the Estate Section of the Utah State Bar.David York has been regularly named to Utah Business Magazine's Utah Legal Elite in the field of Estate Planning and is among the highest rated lawyers in the nation with Martindale-Hubbell. York Howell & Guymon was celebrated as one of Utah's Fast 50: Emerging 8 companies in 2016 and one of Inc. 5000's Fastest Growing Companies in America in 2017.Co- author of Entrusted: Building A Legacy That Lasts and Riveted: 44 Values that Change the World, which after its release was the #1 Business Ethics book on Amazon.Co-creator of the Entrusted Planning process, which provides individuals, couples, and families with the clarity needed to put words to their why and to align their individual purpose with their personal estate and financial planning.Guest Website: https://www.davidryork.com/Episode #214 of That Entrepreneur Show- The podcast where founders of companies and brands share their entrepreneurial journeys, lessons learned, tips for success, and more each Friday since 2019.Email: PodcastsByLanci@Gmail.comListen to all episodes here: https://ThatEntrepreneurShow.Buzzsprout.comWebsite: https://www.VincentALanci.com/YouTubeShow InstagramHost InstagramFacebookTwitterLinkedInFor Digital Editing Inquiries and Potential Podcast Guests: Email: PodcastsByLanci@Gmail.comAdventure by MusicbyAden | https://soundcloud.com/musicbyadenHappy | https://soundcloud.com/morning-kulishow/happy

The Importance of Family Governance in Wealth Succession Suleiman

Voice of African Family Business with AFF

Play Episode Listen Later Jul 13, 2022 48:18

Family Governance for the Future Speaker: Suleiman Yahaya

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Ideas on conflict, old and new, at this year's IFG conference

Crafting Solutions to Conflict

Play Episode Listen Later May 26, 2022 4:51

Earlier this month, I attended my first in-person conference since early 2020, the Institute for Family Governance conference in New York City. During the lunch break, I chaired a roundtable discussion on addressing and preventing conflict in a family enterprise. Our conversation echoed – and amplified – some themes that we heard throughout the day.Setting expectations is key – well before a problem erupts. Recognize that families and their family enterprises necessarily evolve over time. Important documents, whether legally binding or not, need to change, too. Disagreements are to be expected, and even welcomed. They don't need to be nasty or destructive. Burying them is rarely a wise move. Finally, the process of communicating is valuable in and of itself.Most interesting to me, over the course of the day, is a newer idea.I was hearing more conversation about the importance of ongoing work within legacy families, family offices, and family enterprises on the subject of handling conflict effectively. One day or one long weekend isn't enough.Do you have comments or suggestions about a topic or guest? An idea or question about conflict management or conflict resolution? Let me know at jb@dovetailresolutions.com! And you can learn more about me and my work as a mediator and a Certified CINERGY® Conflict Coach at www.dovetailresolutions.com and https://www.linkedin.com/in/janebeddall/.Enjoy the show for free on your favorite podcast app or on the podcast website: https://craftingsolutionstoconflict.com/And you can follow us on Twitter @conflictsolving.

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Peter Evans - Trusted Advisor to Legacy Families & Member of a 7th Generation Family Holding Company

The Business of Family

Play Episode Listen Later Apr 24, 2022 53:48

Peter Evans is an advisor, consultant, and speaker to legacy families, family offices, and multigenerational enterprises all around the world. Peter creates the opportunities where affluent families have the greatest chance of flourishing. Peter is also part of a legacy family himself; he is a 5th generation member of a 7th generation American enterprise established in 1885. Peter married into this family and was astounded by the welcoming and inclusive nature of his wife's large family. The family enterprise is now a holding company with over 500 shareholders, all of whom are family members. Of particular interest are the Family Summits held annually, which are designed to re-engage family members, partake in family traditions and rituals, discuss philanthropy and reset for the year ahead. Peter shares his experience of what it was like to join a well-established legacy family and how he has used this unique experience to pivot his career and help other legacy families flourish. Standout Quotes: * "We can't really plan significantly for longer than 5-10 years, you just learn that along the way, things change; the world changes" - [Peter] * "I'm really interested in making sure that the family's values are aligned with their actions" - [Peter] * "To have some sort of formal way of telling stories, I think, is critical" - [Peter] * "The most important thing you'll do are these rituals" - [Peter] * "If we have the privilege of having wealth and means, we have an obligation to give back" - [Peter] Key Takeaways: * Peter is the 5th generation member of a 7th generation American enterprise established in 1885. He is an adviser, consultant, and speaker to legacy families, family offices, and multigenerational enterprises globally. He became a part of the family when he married his wife and was included. * The company began as a group of lumber companies started by two brothers who liquidated everything after 45 years to invest with their partner, Friedrich Weyerhäuser in 1901. Peter's family had continued to be involved with the business as it expanded, although there were no male heirs in the second generation, till the 3rd generation. The family later started a private trust company in 1964, at which point they became the 3rd largest retailer of building materials in the US. * Today with diversification, they are now a holding company with over 500 shareholders, all of whom are family members. Peter's children are already involved with the family business actively and eagerly look forward to partaking in the annual family meetings. * The Family Summit: This annual family meeting usually runs over 3-5 days, on the same weekend every year, with activities like the coming-of-age ritual and elders' ritual, Olympic games, business meetings, philanthropy group meetings, and talks by guest speakers. The goal is to make it so interesting that people want to come back. * Planning Never Stops; the family forms a long-range planning committee every 5 years to have a clean slate to think through everything. A pattern of liquidating a significant resource once every 20 years was also observed; this 'Generational Harvest' would provide liquidity to each shareholder, giving them the freedom to make their own investments. * The family investments today are largely in Real Estate, like residence halls or low-income housing units, all intentionally inclined towards 'doing well by doing good' which is a value the family holds. * Peter left his role as president of the family enterprise in 2003 and has since then helped other family enterprises manage their multigenerational interests. He believes families with vast amounts of capital can make decisions that affect millions of lives and works to ensure that these families act in accordance with their values. "I can hold a mirror up to you so that you can begin to see yourself, your family system, and your footprint in the world; the other thing I can do is open the window so that you can look out into the world and see how other families made choices during different transitions" * Peter's most satisfying work is sitting with family members and watching the interactions; his work is focused on helping build bridges in communication and relationships. His role is a position between being a business consultant, priest, and therapist all of which require a deep level of trust and respect. At its core, his work is about relationships. * Peter's role as a 'Personne de confiance': This is a confidential advisor based on their trust, respect, and honesty. The way to get into that role is to come into the family that needs help, taking time to build trust and confidence. Very often Peter has to model a way of doing things like chairing a meeting, inclusion, and effective decision-making while keeping in mind that the goal is to pass on the mantle of leadership. Most of the time, the G2 generation is the one that reaches out to him, however, in some cases when the patriarchs are comfortable giving up authority, this spurs the G2 to take up the mantle and learn how to hand over to G3. Sometimes, the G2 has even already made the transition in their lifetime, adapting to the values and culture while the G3 grows up having a completely different experience. * Storytelling is critical in documenting family history. Peter uses this both in his family enterprise and while working with others. His family works with a full-time archivist who helps research the lives of people such that detailed questions can be asked and stories can be told more deeply. It also offers an opportunity to share lessons from the failures, trials, and tribulations of family members. * While still active in his family he was always open to learning from other families and when he left his role, he wanted to be involved in creating the consciousness in families that they can impact the world. Based on Peter's background, he has the experience which gets him into those family spaces after which he starts work. * From Peter's experience, when it comes to cultural mindsets like having female leaders, and diversity, there is a lot more openness in the US than in most other places. Although he tries to encourage such views, some cultures are just not ready for it. However, families of significant or multigenerational wealth are naturally global these days, hence it is becoming increasingly difficult to avoid influence from other cultures. * Family Rituals are the most important way to bring the family together continuously over the years because they help young people feel acknowledged. Peter's family has a children's program packed with several activities that keep them eager to return. After the age of 14, they can start going to business meetings. These activities help the family familiarize themselves with teenagers and create a more welcoming environment in the business meetings. * It is necessary to identify who is family and the kinds of roles available to different members. Each family does this differently, but Peter's family has selected the option of Inclusion. * Building Family Governance starts with having a reliable cadence of meetings quarterly, as well as major annual gatherings; this goes hand and hand with excellent communication. The next step would be to memorialize family values and have a direction and then this can be the foundation of a constitution. The constitution is a living document and should be examined and changed as required. * Peter also uses the concept of the "5 Capitals" within his family and the families he works with. * Philanthropy is another tool Peter has been familiar with. It is fun to watch families come together to figure out ways to give back based on their different interests and drives. * Very often, families look at their business as heirlooms which begs the question "Is the business an heirloom or an investment?" Sometimes it is hard to sell a business because it's been our identity for years; thus, selling is easy if the business is only an investment but if it functions as an heirloom then it may not be advisable. In some situations, the business is on the spectrum in-between, which means only certain objects or aspects may be more valued as an heirloom. Mike's family takes pictures yearly on the same spot on a piece of land which over time has taken up the role of an heirloom too. * From Peter to his children: "This is your life, do what you love and do it often. If you don't like something, change it; if you don't like your job, move on. If you don't have enough time, stop watching TV. If you're looking for the love of your life, stop, they'll be waiting for you when you start doing the things you love. Stop overanalyzing; life is simple. All emotions are beautiful, when you eat, appreciate every last bite. Open your mind, arms, and heart to new things and people; we are united in our differences. Ask the next person you see what their passion is, and share your inspiring dream with them. Travel often; getting lost will help you find yourself. Some opportunities only come once so seize them. Life is about the people you meet and the things you create with them, so go out and start creating. Life is short, live your dream and share your passion." Episode Timeline: * [00:52] About today's guest, Peter Evans. * [02:44] Peter shares his family history. * [07:10] What makes your annual family meetings appealing to the younger generation? * [12:28] Does a value system guide the investment making decisions? * [14:00] Peter's work helping other family enterprises. * [18:40] Peters role as a 'Personne de confiance'. * [24:22] Family Storytelling as a tool in Peter's work with family enterprises. * [29:08] Was it your experience with your own family that led you to work with other families? * [31:39] What are some of the differences in culture that showed up during your work with different families across the world? * [34:50] How important is it to have traditions that bring the family together? * [38:41] Who is a Family member? * [39:17] Building blocks of Family Governance. * [44:10] Philanthropy in the family enterprise. * [46:16] How shared experiences come into family meetings. * [48:14] What is the role of Heirlooms in the family enterprise? * [50:47] Peter's letter to his kids. For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Peter Evans.

Anthony R Contrucci - A 5th Generation Member of the Schrage Family, Owners of the 126 Year Old Centier Bank

The Business of Family

Play Episode Listen Later Mar 6, 2022 73:06

Anthony Contrucci is a proud 5th Generation member of the Schrage Family. He serves in many roles within his broader family enterprise including his role as President and Board of Director of First Bancshares, Inc. (FBS) a bank holding company located in Merrillville, Indiana. FBS's primary operating asset is Centier Bank (https://www.centier.com/). Founded in 1895, the Schrage family has owned and operated the financial institution for 126 years. From humble beginnings, today they are the largest private, family-owned bank in the State of Indiana with approx. $5.8 billion in total assets, over 60 branches, and in excess of 900 associates. As his career has evolved, he has developed a true passion for governance and operations. One of his current focuses is the codification and institutionalization of the key elements that differentiate his family's enterprise. At its core, this speaks to their desire to remain a purpose driven enterprise focused on the preservation of their servant heart culture for generations to come. This spans the continuum of the impact that they have on their associates, their clients, and the communities that they serve overlayed by a holistic approach which incorporates environmental, social, and governance considerations. In addition, his passion for governance and operations has evolved beyond that of traditional corporate. For the better part of the last decade, he has led their family's formalized family governance efforts. As they continue the transition from the 4th to the 5th generation, it was paramount to Anthony, and his generation, that they build the requisite operational and governance structures to ensure success in succession not just for their generation but for generations to come. With the collective support of the 4th and 5th generations, He has allocated a considerable amount of my time establishing their family office and formalized governance structure and framework. Although he feels blessed to be able to serve his family and family enterprise in a variety of roles, the role he is most proud of is that of a devoted husband and loving father. He is married to his best friend and soulmate, Melissa Contrucci (nee Schrage) and has been blessed with two loving children. Standout Quotes: * "I really believe our success as a family kind of exists at the crossroad of this desire to be civically involved" - [Anthony] * "That formula of putting people before profit is how you build long term sustainable value that transcends generations" - [Anthony] * "In order to be successful in succession, you have to be intentional and you have to be strategic" - [Anthony] * "If you think about the destination, you'll never start the journey" - [Anthony] * "If you're trying to solve a problem that you can solve during your lifetime, you're thinking too small" - [Anthony] * "Success requires action" - [Anthony] * "You can't appreciate something if you don't know how hard it was to have or you didn't have to work for it" - [Anthony] * "During times of dislocation, there's always opportunity" - [Anthony] * "The most important investment I've ever made is my time in my children" - [Anthony] * "Never try to replace your net worth for your self-worth" - [Anthony] Key Takeaways: * Anthony is a 5th generation member of the Schrage family currently serving in the role of President and Board Director of First Bank Shares, a bank holding company with a primary operating asset "Centier Bank" which was founded in 1895. They are now the largest private family-owned bank in the state of Indiana. * The Schrage family came over from Germany into the US in the 1800s, and over time the family has always been passionate about the community. This alongside the risk tolerance accounted for the success of the family because being involved with the community helped identify needs and create solutions. The name "Centier" Bank was coined intentionally to represent a century of service, the founding of the bank on Center Street, and that the bank strives to be the premier provider of financial services for the communities. The headquarter is in Merriville Indiana. * Despite the pandemic, banking is a good business to be in right now. Data from the bank shows that Centier Bank tends to outperform during times of market dislocation or pain. Clients are put even before the shareholders in the business, and this is how long-term sustainable value is built over generations. 2020 has been the best year financially in the history of the bank. * This success was achieved by consciously and emphatically considering the safety of clients and workers physically while also keeping them confident about their finances. They set out to help communities through different programs, mortgages, credits, and low-interest loans. * Anthony met his wife and her family at the age of 20 and she was his best friend before becoming his wife. Anthony had no intention of working in the family business but wanted to chart his course in life. He had always been in the financial sector, including commercial banking and investment. Later he started with wealth management in the family business, and then the investment services division. After a while strategic intentional steps were taken to ensure an impact in the community. Currently, Anthony spends time in the financial holding company level, family governance, and the family office. * Although the family has grown since the first generation, there are 27 family members and 16 shareholders. There is a family assembly every year, and also a family governance structure. * The goal of the family assembly is both business and to bring the family members closer together. One of the main reasons for starting the family assembly was communication flow. Success and succession in a family business is literally the equivalent of fighting gravity; only about a third of family businesses make it from generation to generation. * As a broader family, the family meets monthly with specific agendas and occasionally invites subject matter experts. There is also a family business consultant and a family psychologist as well as other subcommittees. There are G5 monthly check-ins with no formal agenda. * About the Family Portal: While trying to organize family documents that have piled up over many years and made work inefficient, Anthony came up with the idea of the Family Portal. This has been a great tool for increasing efficiency and improving workflow. * When it comes to starting Family Governance, "you've got to go slow to go fast". Even it is a small start, it's about building the behavior; for Anthony's family, the starting point was about Mission, Vision, and Values. This is where to start to build a foundation with simple things like a code of conduct or attendance policy. It gives some wins and then these goals can be dialed up to more complicated plans. * The Emergency Transition Planning (ETP): This refers to very detailed planning done such that in the event of the demise of a leader, things can be set in motion to instill confidence in multiple audiences across multiple mediums. It's a succession plan on steroids. * The family psychologist has been very valuable especially in helping family members communicate effectively. This also includes constructive conflict, which is the most important thing in communication and trust-building. Additionally, having a facilitator around when the family constitution was created was very helpful. However, the values or by-products of this exercise are less important than the journey. Families are encouraged to start this process and take their time. * After attending a family business conference where he was introduced to the concept of a Family Book, Anthony applied it in documenting the family history to ensure that future generations would understand how hard the journey was. While collating different materials to create the family book, an enormous collection was accumulated and Anthony had the idea to get a corporate historian to manage the collection. This brought the next idea to have a "Centier Museum" for these family artifacts. * Using the idea of cohesion dynamics which include the family aspect, as well as the business, financial and emotional aspects, Anthony understood that it was paramount to use the family history to keep family members emotionally tethered to the family business. This determines the filter they would use in making decisions regarding the family business because rather than simply thinking like investors, they would think like stewards if they felt emotionally tethered to the family enterprise. * The 6th generation is currently between the ages of 8-18years. For a long time, the family legacy was the bank, but now there's so much more opportunity for the G6 to get involved with the family enterprise and create an impact. * Advice for someone looking to lay the foundation for a Family Enterprise: Slow down; "you have to be patient and focus". The other thing is to save; "live below your means and always have reserves because having that additional financial capacity allows you to be opportunistic". * There has had to be a shift from being a family that operates a business to a family that has an enterprise. "We had the belief for so long that the legacy was the bank but now I believe that the legacy is the culture that fuels the enterprise" Thinking about it this way gives the motivation to lean into Family Governance and Family Office. It also shifts the mindset from being competitive to being more collaborative. All of this takes curiosity, communication, working through conflict, and never being afraid to fail, knowing that growth comes from failure. * Anthony's letter to his kids: Happiness comes from the important things in life; love, health, the time spent, and experiences created with loved ones. True fulfillment comes from finding something you're extremely passionate about, that is meaningful but extremely hard; if you don't grind, demonstrate grit, fail, and pick yourself up, you will never find fulfillment and self-actualize. If you always lean into what's important in life and push yourself, you'll find that fulfillment. Episode Timeline: * [00:50] Introducing today's guest, Anthony R Contrucci. * [02:05] The history of Anthony's family business. * [08:20] How is the banking industry right now? * [12:16] Anthony's entrance into the family and the family business. * [17:40] The structure of the family enterprise. * [29:28] How has your governance structure taken shape since its implementation? * [37:55] Where did you start in terms of Family Governance? * [41:34] The Emergency Transition Planning (ETP). * [45:00] Discussing the role of the family psychologist. * [48:30] How did the family constitution come to be? * [51:14] About the Family structures put in place to guard the family history. * [57:54] With regards to the 6th generation, how do you look to the future of the family enterprise? * [01:00:21] What advice would you give to someone looking to lay the early foundation of a Family Enterprise? * [01:05:08] Is there a new habit you've adopted that was meaningful to your journey? * [01:09:16] Anthony's letter to his kids. For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Anthony R Contrucci.

Rückblick 2 | Familienunternehmen, Folge 30

Play Episode Listen Later Feb 8, 2022 3:02

Herzlich Willkommen zu einer weiteren Ausgabe unseres Podcasts „Besonderheiten und Herausforderungen von Familienunternehmen.“ Die heutige Folge ist der Abschluss unserer Podcastreihe. Wir haben uns in den letzten Monaten mit vielen verschiedenen Aspekten rund um das Gebiet der Familienunternehmen beschäftigt und wollen heute noch einmal einige dieser Themen zusammenfassen. Ein Schwerpunkt unseres Podcasts bildete die Family Governance. Wir haben gezeigt, dass Familienunternehmen aufgrund ihrer Eigenschaften eine andere Corporate Governance benötigen als ihr Pendant ohne Familieneinfluss. Dies vor allem deshalb, da bei Familienunternehmen weniger die Herausforderung besteht, dass zwischen Eigentümer und externem Management eine Informationsasymmetrie besteht, sondern weil Familienunternehmen vor allem vor Herausforderungen stehen, die die Familie betreffen. Hier konnten wir aufzeigen, dass diese Herausforderungen zum Beispiel in der Unternehmensnachfolge und speziell in der Auswahl des geeignenten Nachfolgers liegen. Weitere wichtige Bestandteile der Family Governance betreffen die Ausschüttungspolitik, die Frage, wer Gesellschafter des Familienunternehmens werden darf sowie die Festlegung eines Höchstalters für Mitglieder der Gremien von Familienunternehmen. Viele dieser Eckpunkte einer Family Governance werden im sogenannten Goverance Kodex für Familienunternehmen thematisiert. Damit stellt dieser Kodex das Pendant zum Deutsche Corporate Governance Kodex für Publikumsgesellschaften dar. Familienunternehmen, die sich mit der eigenen Family Governance auseinandersetzen, formulieren diese zudem häufig in einer Family Charta. Hierbei handelt es sich um ein meist rechtlich nicht bindendes Dokument, welches die Werte der Familie sowie den Umgang der Familie untereinander regelt. Ein weiterer Schwerpunkt unseres Podcast lag in der nachhaltigen Unternehmensführung und hier in den Möglichkeiten von Familienunternehmen umweltrelevantes Verhalten an den Tag zu legen. Es konnte gezeigt werden, dass Unternehmen, die sich nachhaltig verhalten, den Schwerpunkt ihres Verhaltens sowohl auf ökonomische, ökologische und soziale Belange legen. Weiter konnten wir aufzeigen, dass Unternehmen, die sich nachhaltig engagieren, auf unterschiedliche Aspekte achten. Beispielsweise thematisieren sie die Nachhaltigkeit bereits in der eigenen Vision, behalten die Nachhaltigkeit auch in wirtschaftlich schwierigen Zeiten im Blick oder kommunizieren das eigene nachhaltige Verhalten regelmäßig an die eigenen Stakeholder. Letztendlich sollte in unserem Podcast klar werden, dass Familienunternehmen nicht nur eine große wirtschaftliche Bedeutung für den Standort Deutschland haben, sondern das sich Familienunternehmen darüber hinaus auch in vielen unterschiedlichen Bereichen von Ihrem Pendant ohne Familieneinfluss unterscheiden. Damit sind wir nicht nur mit unserer heutigen Folge am Ende unseres Podcast angelangt, sondern beenden auch die Reihe „Besonderheiten und Herausforderungen von Familienunternehmen.“ Ich bedanke mich bei Ihnen für Ihre Aufmerksamkeit und wünsche Ihnen alles Gute. In naher Zukunft startet ein neuer Podcast von mir, der sich mit dem Themengebiet Startups auseinandersetzt. Ich würde mich freuen, wenn Sie auch dann wieder mit dabei sind. Herzliche Grüße, Ihr Jan Tänzler Dr. Jan Klaus Tänzler, Studienbriefautor der Deutschen Akademie für Management Hier finden Sie alle Podcasts der Reihe Besonderheiten und Herausforderungen von Familienunternehmen.

Rückblick 1 | Familienunternehmen, Folge 29

Zukunft Familienunternehmen - Disruption. Transformation. Resilienz.

Play Episode Listen Later Feb 1, 2022 2:04

Hallo und herzlich willkommen zu unserem Podcast „Herausforderungen und Besonderheiten von Familienunternehmen.“ Wir haben in den vergangenen Monaten viele verschiedene Aspekte rund um das Themengebiet Familienunternehmen behandelt und werden die Podcastreihe in der nächsten Folge abschließen. Bis es aber soweit ist, will ich Ihnen heute und in der nächsten Folge noch einmal die wichtigsten Erkenntnisse unserer Reihe zusammenfassen. In einem ersten Schritt haben wir uns mit den Besonderheiten von Familienunternehmen beschäftigt. Hier haben wir festgestellt, dass der Begriff des Familienunternehmens nicht deckungsgleich mit dem Begriff des Mittelstands ist. Zwar sind die meisten mittelständischen Unternehmen auch Familienunternehmen, jedoch ist dies nicht zwangsläufig der Fall. Weiter haben wir gesehen, dass, obwohl in der Theorie verschiedene Definitionen zu Familienunternehmen vorherrschen, vor allem vier Aspekte als typisch für ein Familienunternehmen gelten: Der Anteil der Familie an Kapital und Stimmrecht, die Mitarbeit der Familie im Unternehmen, eine besondere Kultur sowie mindestens eine stattgefundene Nachfolge. Das Vier-Achsen-Modell hat uns darüber hinaus Unterschiede bei Familienunternehmen aufgezeigt. Es ist unterteilt in die vier Achsen: Governance, Eigentum, Familie und Unternehmen und zeigt die verschiedenen Stufen auf, die ein Familienunternehmen auf den unterschiedlichen Achsen erreichen kann. Beispielsweise sind die Stufen auf der Eigentumsachse: Kontrollierender Eigentümer, die Geschwisterpartnerschaft, Cousin-Konsortium sowie die Familien Dynastie. Das Vier-Achsen-Modell hilft dabei, sich über die jeweiligen Stufen eines Unternehmens klar zu werden um anschließend die jeweiligen Herausforderungen zu erkennen. Somit konnten wir in der ersten Hälfte unserer Podcastreihe einige Besonderheiten von Familienunternehmen herausstellen und zugleich aufzeigen, in welchen Bereichen sich Familienunternehmen typischerweise unterscheiden. In der nächsten und letzten Podcastfolge zeigen wir noch einmal wichtige Bestandteile der Family Governance sowie der Strategieformulierung auf. Ich würde mich freuen, wenn Sie auch dann wieder mit dabei sind. Bis dahin herzliche Grüße, Ihr Jan Tänzler Dr. Jan Klaus Tänzler, Studienbriefautor der Deutschen Akademie für Management Hier finden Sie alle Podcasts der Reihe Besonderheiten und Herausforderungen von Familienunternehmen.

„Das war jetzt unser Krisenmanagement!“ BabyOne Co-Geschäftsführerin Anna Weber über Nachfolge in pandemischen Zeiten

Play Episode Listen Later Dec 9, 2021 23:12

Die Nachfolge war terminiert - das Zepter sollte, wie lange geplant und sorgfältig austariert, übergeben werden. Dann kam Corona. Für die Geschwister Dr. Anna Weber und Dr. Jan-Willem Weischer, frischgebackene Geschäftsführer von BabyOne, folgte das Abenteuer der Kartierung unbekannter Territorien: 90 Prozent des Umsatzes im stationären Handel brachen ein – es galt, das gesamte Geschäftsmodell und somit auch die eigenen Aufgaben und die Rolle im Unternehmen neu zu definieren. „Das waren gleich ganz existenzielle Themen, mit denen wir konfrontiert waren“, sagt Anna Weber; seit Herbst 2019 bildet sie gemeinsam mit ihrem Bruder Jan Weischer die Geschäftsführung des Babyausstatters. “Für uns war ganz besonders, dass unsere Eltern sich trotzdem absolut zurückgenommen und uns freie Hand gelassen haben.“ In der Episode sprechen die Geschwister über Mut und Vertrauen mit Nadine Kammerlander vom Institut für Familienunternehmen und Mittelstand der WHU-Otto Beisheim School of Management und beschreiben, mit welcher Bestimmtheit ihre Eltern Gabriele und Wilhelm Weischer die Übergabe geplant und auch durchgeführt haben. Rechtliche Fragen von Steuern bis Family Governance umreißt Patriz Ergenzinger von EY. „Man muss auf Krisen vorbereitet sein,“ sagt der Experte für komplexe Nachfolgeregelungen. „Familienunternehmen müssen wie alle Unternehmen eine Resilienz-Strategie haben.“ Gäste: Dr. Anna Weber und Dr. Jan-Willem Weischer, seit Herbst 2019 Co-Geschäftsführer des BabyOne Franchise-Unternehmens Dr. Patriz Ergenzinger, Rechtsanwalt bei EY Law mit Schwerpunkt Familienunternehmen und Private Client Services Moderation: Prof. Nadine Kammerlander, Leiterin des Instituts für Familienunternehmen und Mittelstand der WHU-Otto Beisheim School of Management Senden Sie uns gerne Fragen und Kommentare an: zukunft.familienunternehmen@whu.edu Mehr zu "Zukunft Familienunternehmen" finden sie unter https://www.whu.edu/de/fakultaet/entrepreneurship-and-innovation-group/institut-fuer-familienunternehmen-und-mittelstand und bei EY unter https://www.ey.com/de_de/family-enterprise und https://www.ey.com/de_de/unlocking-ambitions-of-private-businesses-and-their-owners Mehr zu professional-podcasts.com finden Sie unter https://professional-podcasts.com

How Can Multigenerational Enterprises Thrive Leading With Purpose With Tsitsi Mutendi

Beyond The Balance Sheet Podcast

Play Episode Listen Later Nov 17, 2021 25:29

Tsitsi Mutendi is Founder and Lead Consultant at Nhaka Legacy Planning. We begin with Tsitsi discussing the inspiration behind her business, and she delves into her work managing conflict between generations. When it comes to managing conflict, some things in life are inevitable; we cannot avoid them. We discuss the importance of transitioning when it comes to legacy planning and Tsitsi reveals how the pandemic has impacted her work. Tune in for Tsitsi's advice to teach your children about resilience and how you can find motivation if you're starting over in your business. IN THIS EPISODE: [01:40] Tsitsi discusses the inspiration behind her business, Nhaka Legacy Planning. Additionally, she speaks about managing conflict between generations. [09:15] Some things in life are inevitable; we cannot avoid them. We discuss the importance of transitioning when it comes to legacy planning. [13:50] Tsitsi reveals how the pandemic has impacted her work and how she has sustained her business during an uncertain and difficult time. [17:20] Tsitsi gives advice on teaching your children about resilience and how you can find motivation if you're starting over in business. KEY TAKEAWAYS: You have to understand that, at some point, the person who did not exist started to exist, and you started transitioning them from birth. At each point in time that the generations exist, the issues that impact them are different. The role of an advisor is to make everyone's needs transparent. The pandemic has taught us to be more mindful. LINKS MENTIONED: Websites www.nhakalegacy.com www.tsitsimutendi.com Podcast: Enterprising Families https://anchor.fm/enterprisingfamilies Facebook https://www.facebook.com/TsitsiMMutendi Instagram https://www.instagram.com/tsitsi_mutendi LinkedIn https://www.linkedin.com/in/tsitsi-mutendi-cfba-cfwa-57a791a/ Twitter https://twitter.com/tsitsimutendi BIO: TSITSI MUTENDI FAMILY BUSINESS AND FAMILY OFFICE ADVISOR Tsitsi is Founder and Lead Consultant at Nhaka Legacy Planning. She is also Co-Founder at African Family Firms (A non profit Africa Family Business Association) Tsitsi Mutendi is a well-versed, award winning business woman with over 12 years experience building her own successful publishing and education businesses, during this time Tsitsi developed a passion to assist family businesses build multi-generational businesses which translate into multigenerational legacies. Tsitsi is recognised globally for her business acumen and world class delivery. Through various board appointments in numerous industries, Tsitsi has had exposure to many global business development strategies especially in Africa. Today, Tsitsi is the founder and owner of Nhaka Legacy Planning which she formed in 2018. Her main focus is on working with Individuals, Family Businesses and Families of wealth in Family Governance and Family governance tools as well as working with Family Offices to create relevance between Family and Office. Her other expertise includes; family communication coaching, family & business strategic planning, succession planning, business continuity strategies, setting up family governance tools such as Family Constitution, Family Council and Family Assemblies, coaching and mentoring. Tsitsi has a certificate in Family Business Advisory and Family Wealth Advisory through the global Family Business Education Network, Family Firms Institute.Her passion for family business has awarded her the opportunity to be an international speaker and author on the subject, particularly on family governance and business continuity. Tsitsi has a weekly podcast called Enterprising Families that focuses towards discussing issues that affect Families Enterprises and family businesses to manage better their journeys as families in business and issues that are of interest to them.Tsitsi has three children aged between 9 and 3. She also owns and runs a successful group of Montessori Primary Schools.

family founders business africa co founders office families thrive individuals key takeaways family businesses enterprises generational wealth multigenerational family offices lead consultant family council family governance

Family Business Governance Teil 6 | Familienunternehmen, Folge 19

Play Episode Listen Later Nov 2, 2021 3:42

Ich begrüße Sie sehr herzlich zu unserer aktuellen Folge des Podcasts „Herausforderungen und Besonderheiten von Familienunternehmen.“ Heute sprechen wir zum letzten Mal zu dem Thema Family Governance. Nachdem wir in den letzten Folgen bereits die Grundzüge und Inhalte der Family Governance durchgeprochen haben, wollen wir uns heute mit dem Governance Kodex für Familienunternehmen beschäftigen, der ein Gegenentwurf zum Corporate Governance Kodex darstellt. Der Governance Kodex für Familienunternehmen wurde im Jahre 2004 von einer Kommission bestehend aus Unternehmern und Wissenschaftlern ins Leben gerufen. In den folgenden Jahren wurde der Kodex mehrfach aktualisiert. Der Grund für die Erarbeitung eines eigenen Kodex speziell für Familienunternehmen liegt in den speziellen Strukturen und Bedürfnissen der Familienunternehmen. Mithilfe des Kodex für Familienunternehmen möchte man diesen Bedürfnissen gerecht werden. Dabei beruht die Anwendung der Inhalte auf Freiwilligkeit. Die Inhalte beziehen sich auf die Organisation der Führung, die Kontrolle sowie die Sicherung des Zusammenhalts der Familie sowie des Familienunternehmens. Der Kodex ist dabei in acht Kapitel aufgeteilt. Er startet mit einer Vorbemerkung, der Vorstellung der Mitglieder der Kommission sowie einer Präambel. Kapitel eins thematisiert das Selbstverständnis der Inhaber. Hierbei geht es darum, dass sich die Familie des Unternehmens klar zu den Werten und Zielen des Unternehmens bekennt, um das Unternehmen langfristig in Familienhand zu behalten. Dazu gehört auch, sich über die speziellen Herausforderungen eines Familienunternehmens klar zu werden und die Inhalte einer Governance für das eigenen Unternehmen zu erarbeiten. Kapitel zwei geht auf die Ausgestaltung der Inhaber-Rechte und -Pflichten ein. Hier wird beispielsweise festgelegt, welche Anforderungen an die leitenden Angestellten (aus der Familie) gestellt werden oder welche zentralen Mitwirkungsrechte die Familiengesellschafter haben. Kapitel drei zeigt die Inhalte auf, die bei der Einrichtung eines Aufsichtsgremiums zu beachten sind. Im Detail geht es um die Aufgabenverteilung der Mitglieder, die Zusammensetzung des Gremiums sowie die Vergütung und Haftung. Der vierte Abschnitt bildet das Pendant zum dritten Kapitel auf. Es geht in diesem Teil jedoch nicht um das Aufsichtsgremium, sondern um die Unternehmensführung. Genau wie im vorherigen Abschnitt werden die Aufgaben der Unternehmensführung beschrieben bevor die weiteren Inhalte die Zusammensetzung des Gremiums und die Vergütung und Haftung betreffen. Das fünfte Kapitel geht auf die Gewinnermittlung und -Verwendung ein. Hier gilt es für Familienunternehmen wie schon in einem früheren Podcast beschrieben eine geeignete Balance zu finden, damit das Familienunternehmen langfristig in Familienhand bleibt. Im sechsten Kapitel geht es darum, wer Gesellschafter des Unternehmens werden darf und welche Regelungen gelten, wenn ein Gesellschafter das Unternehmen verlassen möchte. Letztendlich befasst sich Kapitel sieben mit Besonderheiten von Familienunternehmen, die nicht für alle Unternehmen gelten und Kapitel acht thematisiert den Umgang mit nicht im Familienunternehmen gebundenen Vermögen. Familienunternehmen sollten die Inhalte des Governance Kodex für ihr eigenes Unternehmen übertragen und sie zum Anlass nehmen, den Gesellschaftervertrag zu überarbeiten oder wie bereits im letzten Podcast gehört, eine eigene Charta zu erstellen. Damit haben sie nun nicht nur einen Überblick über den Governance Kodex für Familienunternehmen erhalten, sondern haben die wichtigsten Inhalte der Family Governance gehört. In der nächsten Folge verlassen wir das Thema Family Governance und widmen uns anderen Besonderheiten von Familienunternehmen. Ich würde mich sehr freuen, wenn Sie dann auch wieder mit dabei sind. Bis dahin herzliche Grüße, Ihr Jan Tänzler

Family Governance, Francesco Lombardo: Veritage

How to Keep Your Money

Play Episode Listen Later Oct 26, 2021 24:05

In Episode 41, Caroline Garnham talks to Francesco Lombardo, Founder of Veritage, whose mission is to serve business families by promoting the culture of Safe Space™, and supporting clients in their development of a living Family Wealth Constitution (FWC). Together they discuss family member's relationship with money.

family founders governance safe spaces family governance francesco lombardo

Family Business Governance Teil 5 | Familienunternehmen, Folge 18

Play Episode Listen Later Oct 26, 2021 2:58

Hallo und herzlich willkommen zurück zur neuen Folge unseres Podcasts „Herausforderungen und Besonderheiten von Familienunternehmen.“ Derzeit thematisieren wir die Besonderheiten von Familienunternehmen in Bezug auf die Corporate Governance. Wir haben schon gezeigt, dass Familienunternehmen im Bereich der Governance andere Herausforderungen haben als Nicht-Familienunternehmen und man daher die Corporate Governance auch unter dem Begriff Family Governance führt. In den letzten Folgen haben wir einige der Inhalte der Family Governance vorgestellt. So haben wir gesehen, dass das Thema Nachfolge, die Gewinnverwendung aber auch die Einbeziehung der Gesellschafter, die nicht aktiv im Unternehmen mitarbeiten ein wichtiger Aspekt für Familienunternehmen darstellt. Die genauen Regelungen in diesen Punkten werden in Familienunternehmen oftmals in einer sogenannten Family Charta geregelt. Eine Family Charta ist ein Schriftstück, welches Ähnlichkeiten mit einem Gesellschaftervertrag hat, dessen Inhalte oftmals aber nicht rechtlich bindend sind, sondern eher moralisch bindend sind. Dabei gleicht eine Charta nicht unbedingt der anderen, denn jede Familie sollte im Vorfeld regeln, welche Inhalte in der eigenen Charta aufgenommen werden sollten. Bevor im Familienunternehmen jedoch über die Inhalte der Ausarbeitung diskutiert wird, bietet es sich in einem ersten Schritt an, dass die Familie die individuellen Ziele und Grundwerte für die Zusammenarbeit im Unternehmen sowie den Umgang untereinander festlegt. Oftmals werden diese Ziele auch mit dem jeweiligen Leitbild des Unternehmens abgeglichen. Mögliche Ziele der Familie sind häufig der langfristige Erhalt des Familienunternehmens oder auch die Möglichkeit der Familie das Unternehmen generationenübergreifend zu kontrollieren. Wird die Charta im Familienunternehmen erarbeitet, so sollten alle Familienangehörigen ab einem bestimmten Alter mit einbezogen werden. So erreicht man eine hohe Akzeptanz und keiner aus der Familie fühlt sich ausgeschlossen. Weiter sollte es sich bei den Inhalten innerhalb der Charta um leicht verständliche Formulierungen handeln, die nicht zu juristisch ausformuliert sind. Die möglichen Inhalte der Charta haben wir schon in den letzten Podcast-Folgen vorgestellt. Wichtig ist jedoch erneut zu betonen, dass jede Familie selbst entscheiden sollte, welche Bestandteile Ihnen als wichtig erscheinen und welche Inhalte genau von der Charta geregelt werden sollte. So ist es wahrscheinlich, dass die Charta von möglichst vielen Familienmitgliedern akzeptiert wird und diese somit zum Erfolg des Familienunternehmens beiträgt. In der nächsten Podcast-Folge stelle ich Ihnen den Governance Kodex für Familienunternehmen vor, der ein Gegenentwurf zum Corporate Governance Kodex darstellt. Ich lade Sie herzlich ein, auch dann erneut dabei zu sein und wünsche Ihnen bis dahin alles Gute, Ihr Jan Tänzler Dr. Jan Klaus Tänzler, Studienbriefautor der Deutschen Akademie für Management Hier finden Sie alle Podcasts der Reihe Besonderheiten und Herausforderungen von Familienunternehmen.

Family Business Governance Teil 4 | Familienunternehmen, Folge 17

Play Episode Listen Later Oct 15, 2021 3:19

ch begrüße Sie sehr herzlich zu unserer nunmehr 17. Folge des Podcast „Herausforderungen und Besonderheiten von Familienunternehmen.“ Wir sind immer noch bei der Family Governance, also der Corporate Governance speziell von Familienunternehmen. Dadurch, dass Familienunternehmen in vielen Punkten andere Herausforderungen haben also Nicht-Familienunternehmen, benötigen Sie auch eine eigene Governance, die auch Family Governance genannt wird. In den letzten Folgen haben wir bereits mit der Unternehmensnachfolge, dem Umgang mit Dividenden sowie der Gründung eines Beirats verschiedene Inhalte einer Family Governance thematisiert. Heute will ich Ihnen näher erläutern, warum sich Familienunternehmen genauer Gedanken machen sollten, wer Gesellschafter des Unternehmens werden kann und warum es so wichtig ist, auch die sogenannten passiven Gesellschafter, frühzeitig mit einzubeziehen. Grundsätzlich werden die meisten die Frage wer Gesellschafter des Familienunternehmens werden darf für nicht sonderlich schwer zu beantworten halten und die Familie des Unternehmens im Sinn haben. Doch auf den zweiten Blick ist diese Frage nicht so einfach zu beantworten. So zeichnet sich die heutige Zeit mit ihrer Pluralisierung von Lebensformen durch andere Formen des Zusammenlebens aus als das noch vor einigen Jahrzehnten der Fall war. Nichteheliche Lebensgemeinschaften, getrenntes Zusammenleben oder auch Patchwork Familien sind heute allgegenwärtig. Die Familie des Unternehmens sollte sich daher frühzeitig überlegen, welche Voraussetzungen gelten, um Anteile am Unternehmen übernehmen zu können um damit am Unternehmen beteiligt zu sein. Diese Frage sollte auch im Rahmen von Scheidungen oder Verwitwung geklärt werden. Erbt der Ehepartner, der nicht zur Familie gehört, die Anteile des gestorbenen Partners? Und darf er womöglich die Anteile dem neuen Partner übertragen? Dieses sind Fragen auf die die Familie des Unternehmens eine Antwort haben sollte. Weiter ist es für Familienunternehmen mit einem großen Gesellschafterkreis, wie anfangs bereits erwähnt, ratsam, sich frühzeitig damit zu beschäftigen, die sogenannten passiven Gesellschafter zu informieren und mit einzubeziehen. Unter den passiven Gesellschaftern versteht man die Anteilseigner, die keinen aktiven Part im Unternehmen innehaben. Also, die zum Beispiel im Unternehmen nicht mitarbeiten oder im Beirat vertreten sind. Gesellschafter, die mit dem Unternehmen nicht viel in Berührung kommen, weil sie unter Umständen auch im Ausland wohnen, verlieren ggf. mit der Zeit die Bindung an das Unternehmen und könnten im extremen Fall ihre Anteile verkaufen. Das wiederum kann für das Unternehmen existenzbedrohend sein, wenn kein Mitglied der Familie die Anteile übernehmen will oder kann. Werden die passiven Gesellschafter jedoch frühzeitig mit einbezogen und regelmäßig informiert, so sinkt die Wahrscheinlichkeit, dass die Gesellschafter das Interesse am Unternehmen verlieren und ihre Anteile verkaufen. Mit diesen beiden Themen möchte ich unseren Podcast für heute beenden. Das Thema Family Governance begleitet uns aber weiter. In der nächsten Folge stelle ich Ihnen die Family Charta vor, ein Dokument speziell für Familienunternehmen, welches die Inhalte der Family Governance für das jeweilige Unternehmen beinhaltet. Ich freue mich, wenn Sie dann auch wieder mit dabei sind. Bis dahin alles Gute, Ihr Jan Tänzler Dr. Jan Klaus Tänzler, Studienbriefautor der Deutschen Akademie für Management Hier finden Sie alle Podcasts der Reihe Besonderheiten und Herausforderungen von Familienunternehmen.

Family Business Governance Teil 3 | Familienunternehmen, Folge 16

Play Episode Listen Later Oct 12, 2021 3:14

Hallo Zusammen und herzlich willkommen zu unserer neuen Folge „Besonderheiten und Herausforderungen von Familienunternehmen“. Heute wollen wir uns weiter mit den Inhalten einer Familiy Governance beschäftigen. In der letzten Folge haben wir gehört, dass die Unternehmensnachfolge eine zentrale Herausforderung von Familienunternehmen darstellt. Das unterscheidet Familienunternehmen dabei auch von ihrem Pendant ohne Familieneinfluss. Neben der Unternehmensnachfolge gibt es noch weitere spezielle Herausforderungen von Familienunternehmen, die im besten Fall von einer Family Governance geregelt werden. Ein zusätzlicher Aspekt, der für Familienunternehmen wichtig ist, stellt die Dividendenpolitik dar. Dadurch, dass sich Familienunternehmen häufig nicht über den Kapitalmarkt finanzieren können, kommt der Innenfinanzierung als Form der Unternehmensfinanzierung ein hoher Stellenwert zu. Familienunternehmen sollten daher einen nicht geringen Teil ihrer Gewinne thesaurieren, also im Unternehmen belassen. Hier hat es sich als Erfolgsbestandteil herausgestellt, die Höhe der Ausschüttung im Gesellschaftervertrag zu verankern. Dies hat den Vorteil, dass man nicht in jedem Jahr erneut über die Höhe der Ausschüttung diskutieren bzw. abstimmen muss. Weiter erscheint es zweckmäßig, dass die Gesellschafter von der Dividende nicht abhängig sind, sondern ihr Leben durch ein anderes Einkommen finanzieren. Das wiederum hat den Vorteil, dass das Unternehmen in finanziell schlechten Zeiten keine Dividenden an die Gesellschafter ausschütten muss. Neben der Dividendenpolitik sollte das Familienunternehmen ab einer gewissen Größe auch die Gründung eines Beirats in Betracht ziehen. Im Gegensatz zu einem Aufsichtsrat in einer Publikumsgesellschaft hat der Beirat in einem Familienunternehmen nicht unbedingt die Aufgabe der Kontrolle. Der Beirat hat oft Repräsentationsaufgaben, dient der Netzwerkpflege sowie der Beratung des Familienunternehmens. Die Familie des Unternehmens sollte sich bei der Besetzung darüber Gedanken machen, ob Familienmitglieder im Beirat vertreten sein sollten. Darüber hinaus sollte die Familie sicherstellen, dass die Mitglieder des Beirats genügend qualifiziert sind, die Aufgabe im Gremium zu übernehmen. Familienunternehmen sollten darüber hinaus die Gesellschafterqualifizierung im Gesellschafterkreis thematisieren. Denn die Gesellschafter sollten genügend qualifiziert sein, um die Strategie des Unternehmens und die Entscheidungen, die im Unternehmen getätigt werden, zu verstehen. Auch wenn die Gesellschafter keine aktive Aufgabe im Unternehmen innehaben, ist es wichtig, dass sie verstehen, warum eine bestimmte Unternehmenspolitik für das Unternehmen von Vorteil ist. Für heute möchte ich mit diesen drei Herausforderungen enden. In der nächsten Woche werde ich dann genauer beleuchten, warum sich Familienunternehmen genauer Gedanken machen sollten, wer im Unternehmen Gesellschafter werden darf, und warum es wichtig ist, dass auch die passiven Gesellschafter, also die Gesellschafter, die keinen aktiven Part im Unternehmen übernehmen, im Unternehmen einbezogen werden sollten. Ich freue mich, wenn Sie auch zukünftig wieder mit dabei sind und wünsche Ihnen bis dahin alles Gute, Ihr Jan Tänzler Dr. Jan Klaus Tänzler, Studienbriefautor der Deutschen Akademie für Management Hier finden Sie alle Podcasts der Reihe Besonderheiten und Herausforderungen von Familienunternehmen.

Family Governance: Zusammenspiel von Corporate Governance, Family Governance und Rollen im Family Business

ausgabe family businesses rollen zusammenspiel corporate governance aufbauend family governance

Play Episode Listen Later Oct 8, 2021 26:17

Corporate Governance, Family Governance und Rollen im Familienunternehmen: diesen drei Themen widmen sich Reto Blaser, Catharina Prym und Roman Leimer. Aufbauend auf der bisherigen Family Governance Podcast Serie, erhalten Sie in dieser Ausgabe weitere Insights unserer Family Business Experten und wie Sie diese Themen in Ihrem Familienunternehmen angehen können.

Family Business Governance | Familienunternehmen, Folge 14

Play Episode Listen Later Sep 28, 2021 2:31

Hallo und herzlich Willkommen zu unserem Podcast „Besonderheiten und Herausforderungen von Familienunternehmen.“ In dieser und den nächsten Folgen beschäftigen wir uns mit der Governance von Familienunternehmen. Wir wollen uns dabei anschauen, warum Familienunternehmen eine eigene Governance brauchen und wie diese ausgestaltet sein sollte. Grundsätzlich versteht man unter Corporate Governance die gute Unternehmensführung. Zur Erklärung der Notwendigkeit einer Corporate Governance wird häufig auf die sogenannte Prinzipal-Agenten-Theorie zurückgegriffen. Im Kern geht es bei dieser Theorie darum, dass ein Eigentümer eines Unternehmens, Prinzipal genannt, einen externen Manager, Agent genannt, beauftragt, in seinem Sinne zu handeln. Weiter wird unterstellt, dass beide Akteure unterschiedlich informiert sind und opportunistisch handeln. Da nun der Eigentümer nicht sicher sein kann, ob der Manager ihm und dem Unternehmen gegenüber loyal agiert, etabliert er verschiedene Governance-Mechanismen, damit der Manager in seinem Sinne handelt. Dabei kann es sich zum Beispiel um ein Kontrollorgan, wie einen Aufsichtsrat handeln, eine variable Vergütung, die an Kennzahlen gekoppelt ist oder um die Einrichtung einer Compliance-Abteilung. Diese Herausforderung, mit der die Prinzipal-Agenten-Theorie versucht, die Etablierung einer Corporate Governance zu erklären, stellt sich für Familienunternehmen häufig anders dar; denn im Extremfall ist der Eigentümer auch Manager des Familienunternehmens und damit entsteht keine Informationsasymmetrie zwischen beiden Akteuren. Aber auch wenn Familienmitglieder der Eigentümerfamilie im Management vertreten sind, sollte man davon ausgehen, dass sich diese tendenziell eher loyal der Familie gegenüber verhalten. Familienunternehmen haben allerdings andere Herausforderungen und müssen eine gute Unternehmensführung auf andere Art und Weise herstellen. Zu den besonderen Herausforderungen von Familienunternehmen gehört die Unternehmensnachfolge, die Festlegung der Gewinnverwendung sowie die Entscheidung, wer Anteilseigner am Unternehmen werden darf. Weil die Corporate Governance von Familienunternehmen anders ist als die von Nicht-Familienunternehmen spricht man auch von Family Governance. In der nächsten Folge werden wir detailliert auf die verschiedenen Inhalte einer Family Governance eingehen. Bis dahin wünsche ich Ihnen alles Gute, Ihr Jan Tänzler Dr. Jan Klaus Tänzler, Studienbriefautor der Deutschen Akademie für Management Hier finden Sie alle Podcasts der Reihe Besonderheiten und Herausforderungen von Familienunternehmen.

Alejandro Gil Rivero speaks on How insurance can be a key to managing Risk and Family Governance Risk

family miami managing risk insurance governance advisors captive rivero managing risk soph family governance

Play Episode Listen Later Sep 19, 2021 27:54

Alejandro Gil Rivero speaks on How insurance can be a key to managing Risk and Family Governance Risk About Alejandro Gil Rivero: Alejandro Gil Rivero,. Managing partner,. Sophos Advisors, Miami. Captive insurance opportunities. Sophós Advisors is an independent consulting firm specialized in risk management and international insurance as a tool within a wealth and estate planning context. We advise high net worth families and businesses on how to use diverse risk management tools to achieve different planning objectives, with particular expertise in life insurance solutions as a wealth transfer planning tool and captive insurance program set up and management. Because each family and business group has different needs and lives through different challenges, our bespoke insurance products and programs are best-in-class and are issued from multiple jurisdictions, each with its own specific characteristics and benefits.

EP:134 Resolving Conflict Within Family Businesses with Marc Silverman

Abundant Culture Podcast

Play Episode Listen Later Sep 17, 2021 41:09

Dr. Marc A. Silverman has consulted with family businesses from startups to multi-nationals, from first through sixth generations, and from three to over 100 family shareholders. He specializes in working with complex family systems of over 25 family shareholders and particularly in integrating the needs of different generations into clear succession and governance structures. Many of his clients have more than 2000 employees. A frequent seminar leader, he has conducted over 100 workshops and seminars in over 15 countries. He has given many keynote addresses to YPO, Heckerling Institute, Financial Planners Association, Society for Trusts, and Estate Planners. He has published over thirty articles on Succession Planning, Family Governance and Offices, Family Business, Communication, Emotional Intelligence, and Conflict Resolution. He works primarily as a Family Business Consultant and Coach to national and multi-national family businesses. He specializes in succession issues, developing effective corporate and family governance structures, emotional intelligence, conflict resolution processes, and family wealth preservation. He is a Senior Fellow at the Institute for Family Business at Florida International University. He has worked as a columnist for “Dinero” and other business publications. An early member of this relatively new field, Dr. Silverman is considered a pioneer in Family Business, particularly in Latin America, and has been granted “Fellow” status by the Family Firm Institute. He has been given the Richard Beckhard Award for outstanding contribution to the field of Organization Development internationally. He has worked with dozens of families in various countries, including several well-known family dynasties. He brings over 25 years of experience in Family Business Consultation, specializing in Emotional Intelligence in Family Business, Conflict Resolution Between Family Shareholders, Succession Planning, Board Development, and Corporate and Family Governance. His work includes the development of Emotional Intelligence in Family Businesses, Family Business Assessment Tools, effective Boards of Directors, Family Councils, and Family Constitutions and Protocols. He has served on the Board of Advisors to Association of Organization Development of Latin America, Chair of Saul A. Silverman Endowment Fund, Treasurer of Psychodynamics of Family Business Association, and as President of the International Organization Development Association for nine years. Connect with Marc: www.sii-inc.net marc@sii-inc.net If you want to be a part of the 10% of businesses that do sell, Download The Ultimate Business Selling Checklist now to prepare your company for sale, for its maximum value, here. Download our 5 Reasons Why Passive Investing In Small Businesses Is The Best Investment guide now, here. Let us know how you like it. Rate us. Leave a comment. Email us at info@abundantculture.co. Do something! Connect with us at: IG: @abundantculture FB: @abundantculture Rate us on your favorite podcast platform!

#49 TSITSI MUTENDI - African Family Firms and Securing the Future

Brand to build

Play Episode Listen Later Sep 13, 2021 51:07

Tsitsi is Founder and Lead Consultant at Nhaka Legacy Planning. She is also Co-Founder at African Family Firms (A nonprofit Africa Family Business Association) Tsitsi Mutendi is a well-versed, award-winning businesswoman with over 12 years of experience building her own successful publishing and education businesses, during this time Tsitsi developed a passion to assist family businesses to build multi-generational businesses which translate into multigenerational legacies. Tsitsi is recognised globally for her business acumen and world-class delivery. Through various board appointments in numerous industries, Tsitsi has had exposure to many global business development strategies, especially in Africa. Tsitsi has vast international business and family business experience. Today, Tsitsi is the founder and owner of Nhaka Legacy Planning which she formed in 2018. Her main focus is on working with Individuals, Family Businesses, and Families of wealth in Family Governance and Family governance tools as well as working with Family Offices to create relevance between Family and Office. Her other areas of expertise include; family communication coaching, family & business strategic planning, corporate governance, succession planning, business continuity strategies, conflict resolution & mediation, coaching, and mentoring. Tsitsi is a certified Family Business Advisor and Family Wealth Advisor through the global Family Business Education Network, Family Firms Institute. Her passion for family business has awarded her the opportunity to be an international speaker and author on the subject, particularly on family governance and business continuity. Tsitsi has a weekly podcast called Enterprising Families that focuses on discussing issues that affect Families Enterprises and family businesses to manage better their journeys as families in business and issues that are of interest to them. Tsitsi also owns and runs a successful group of Montessori Primary Schools. Most importantly Tsitsi is wife and Mom to 3 cherished children (Jasmine Mufaro, Daniel Djimon and Nyasha Maia) who have given her more motivation to leave an impactful legacy.

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Generational Wealth and Family Governance

Swiss Asset Management Talk

Play Episode Listen Later Aug 18, 2021 27:16

Before discussing generational wealth and family governance, the WHVP team discusses the historic performance of the Swiss national team at the Tokyo Olympics. The podcast includes a brief explanation of generational wealth and family governance, some organizational aspect of generational wealth, how to talk to family members about generational wealth, and then discusses the topic in further detail. To learn more about us at WHVP, check out our homepage at https://whvp.ch/! WHVP Team: Jamie Vrijhof-Droese, Managing Partner Urs Vrijhof-Droese, Managing Partner Jess Roberson, Intern

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Family Governance: Was beinhaltet eine Inhaberstrategie

family gesch ziel einblicke governance strategie ihnen zimmer selbstverst beratungsprozess family governance

Play Episode Listen Later Jul 16, 2021 20:18

In dieser Episode des Family Governance Podcasts führen Roman Leimer und Catharina Prym durch die ersten drei Zimmer des Strategiehauses: Mitgliedschaft, Selbstverständnis, Geschäftsmodell. In 18 Minuten vermittelt Ihnen unsere «Hausbesichtigung» wertvolle Einblicke in einen Beratungsprozess, der Familienunternehmen systematisch zur nachhaltigen Strategie begleitet – Ziel für Ziel, Zimmer für Zimmer.

36. Navigating Change Within the Family Enterprise with Nike Anani & Tsitsi Mutendi

The Family Biz Show

Play Episode Listen Later Jul 15, 2021 58:44

Ep 36 - Navigating Change Within the Family Enterprise Listen in as we talk to Nike Anani and Tsitsi Mutendi about the intricacies of navigating change within the family enterprise, specifically the unique challenges that come with building the “generational bridge”. During this episode, we will be focused on the following: Succession - building a generational bridge to connect the generations. Governance - shared history, shared values, shared vision. Navigating disruption and business continuity. This Weeks Guests: Nike Anani Co-Founder of African Family Firms Nike Anani is an entrepreneur and a Consultant. She was rated as a top-100 Family Business Consultant globally. She helps her clients bridge the gap between the senior and younger generations. As a result, they communicate, collaborate and collectively gain clarity, to increase profit and productivity in their family businesses. With over a decade of family business expertise in Nigeria, Nike helps owners lead their family organizations to long-term impact and legacy. Her inside experience as a second generation family business owner birthed a passion to help other families in building legacy enterprises that would outlive them. Nike is an accountant (ex-Deloitte UK) and a top-rated family business expert, with a Family Business and Wealth advisor qualification from Family Firm Institute. She is the co-founder of African Family Firms, a pan-African association of family businesses, and the host of "The Connected Generation" podcast. Nike's clients choose to engage her, not only because of her extensive professional training, but also because of her practical experience as both a business founder and a NextGen. This allows her to uniquely empathies with both generations and act as a connector. Nike is a champion for diversity and celebrates the uniqueness in every individual, family and business. You can contact Nike at nikeanani.com & follow her on Facebook, Instagram and LinkedIn. Tsitsi Mutendi FAMILY BUSINESS AND FAMILY OFFICE ADVISOR (Nhaka Legacy Planning)CO-FOUNDER, AFRICAN FAMILY FIRMS (African Business Association) Tsitsi is Founder and Lead Consultant at Nhaka Legacy Planning. She is also Co-Founder at African Family Firms (A non profit Africa Family Business Association) Tsitsi Mutendi is a well-versed, award winning business woman with over 12 years experience building her own successful publishing and education businesses, during this time Tsitsi developed a passion to assist family businesses build multi-generational businesses which translate into multigenerational legacies. Tsitsi is recognised globally for her business acumen and world class delivery. Through various board appointments in numerous industries, Tsitsi has had exposure to many global business development strategies especially in Africa. Tsitsi has vast international business and family business experience. Today, Tsitsi is the founder and owner of Nhaka Legacy Planning which she formed in 2018. Her main focus is on working with Individuals, Family Businesses and Families of wealth in Family Governance and Family governance tools as well as working with Family Offices to create relevance between Family and Office. Her other expertise includes; family communication coaching, family & business strategic planning, corporate governance, succession planning, business continuity strategies, conflict resolution & mediation, coaching and mentoring. Tsitsi is a certified Family Business Advisor and Family Wealth Advisor through the global Family Business Education Network, Family Firms Institute. Her passion for family business has awarded her the opportunity to be an international speaker and author on the subject, particularly on family governance and business continuity. Tsitsi has a weekly podcast called Enterprising Families that focuses towards discussing issues that affect Families Enterprises and family businesses to manage better their journeys as families in business and issues that are of interest to them. Tsitsi also owns and runs a successful group of Montessori Primary Schools. Most importantly Tsitsi is wife and Mom to 3 cherished children (Jasmine Mufaro, Daniel Djimon and Nyasha Maia) who have given her more motivation to leave an impactful legacy. You can tune into her podcast Enterprising Families Podcast on Apple Podcasts. -------- Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth and Legacy LLC is not an affiliate of Lincoln Financial Advisors Corp. CRN-3653344-063021

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Richa Singh shares on Best Practices on Family Governance

Play Episode Listen Later Jul 4, 2021 31:49

Richa Singh shares on Best Practices on Family Governance About: Richa is an affiliate consultant with The Family Business Consulting Group, specializing in conflict resolution, communication, organizational behavior and human resources. Her experience includes educating and creating awareness amongst business families, facilitating family meetings, designing structures and creating and implementing family charters. Richa started her work as a family business consultant in India — a growing economy and hub for big and small family businesses. As an advisor to many families over 11 years, Richa gained an immense but humbling understanding of the intricacies of an enterprising family, its unique characteristics, and the art and science of family governance. LinkedIn: linkedin.com/in/richa-singh-831396b1

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Family Governance: Eine Inhaberstrategie erarbeiten und leben

family mit leben familie unternehmen bild governance dialog ihren zusammenspiel erarbeiten family governance

Play Episode Listen Later Jun 2, 2021 18:00

Mit einer Inhaberstrategie erhalten Sie ein einheitlicheres Bild davon, was Familie, Unternehmen und deren Zusammenspiel bedeuten. Die Familienverfassung als verbalisierte Form erleichtert Ihren zukünftigen Dialog miteinander.

Family Governance: Nie zu früh, die Zukunft abzusichern

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Play Episode Listen Later Apr 23, 2021 17:08

Aus dem Spannungsfeld von Geld, Macht und Liebe gehen unterschiedliche Ansprüche hervor. Mit einer Family Governance schaffen Sie Klarheit über Bedürfnisse, Ziele und Verhalten. Es ist nie zu früh, die Zukunft abzusichern.

Julien Lescs Discusses Psychodynamics and Family Governance

Family Firm Institute Podcast

Play Episode Listen Later Apr 6, 2021 13:38

FFI Practitioner is pleased to invite Julien Lescs to discuss his research. In this week’s podcast, Jordan Rich interviews Julien Lescs, family office advisor and co-founder of Kanopé Impact, about his research on psychodynamics and its impact on family offices and family governance. To learn more about the Family Firm Institute go to www.ffi.org.

family governance psychodynamics family firm institute jordan rich family governance

Family Governance: The Tool for Well-Being

Beyond The Balance Sheet Podcast

Play Episode Listen Later Mar 31, 2021 31:18

Governance is ‘the way things are done around here'. It is the development of policies, procedures, and structures and ultimately, it comes down to communication, decision-making, clear boundaries, roles and responsibilities, and finding a way to document this for the benefit of the clients. Today's guest is Daniel Trimarchi, he is part of the KPMG Private Enterprise Family Business practice, which specializes in family governance and succession planning. In this episode, Daniel shares his experience in creating governance structures, facilitating safe conversations, and removing the advisors biases when working with clients. Visit our website at: beyondthebalancesheet.com

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Carl Bates - High-Performance Family Boards from New Zealand to Africa

The Business of Family

Play Episode Listen Later Mar 15, 2021 51:47

Carl Bates (https://carlbates.com/) is Africa's leading educator, appointer and guide of High-Performance boards. As the Founding Partner of Sirdar (https://sirdargroup.com/), he is world renowned for his practical understanding of governance and is constantly invited to share his knowledge and insight on the subject - in Africa, Sirdar is the largest provider of independent non-executive directors to private companies and family businesses. As a G2 entrepreneur, Carl works closely with his Mother and spouse in his family property business in New Zealand, bringing real world insights to his professional service clients. Carl is particularly passionate about how boards can transform and scale-up privately-held and family companies. Standout Quotes: * "There's a difference between craftsmanship and entrepreneurship" - [Carl] * "And I like the term 'Contribution', it's all about what we have to give and finding ways of being more effective in that" - [Carl] * "I think having a purpose as a business is fundamental to what building longevity in any business is about" - [Carl] * "In businesses, we can see a direct correlation between the makeup of the group of people at the top and the financial performance of the business" - [Carl] * "It is a privilege that a family has when they're right at the beginning of the journey, and they make the decision to become a family business... and they put in place the structures at that point because it's a lot less emotional to argue about something that is 10 or 20 years out, than being in the middle of that thing in 20 years time" - [Carl] * "Families need to define 'well, what does family mean to you?' - [Carl] * "The larger the number of beneficiaries of the family, the bigger the governance framework needs to be at a family level" - [Carl] * "There's no such thing as an 'Original Mistake', there are so many families and so many boards around the world who have done this so many times before you, that rather than try and make an original mistake, go and see what other people have done" - [Carl] Key Takeaways: * Carl recalls he initially had no desire to live in Africa, a few years after this, he repeatedly had cause to travel there on business and realized he had to stay, creating offices all around Africa which help families and companies to develop their boards of directors. * Starting University at 15 years and becoming a chartered accountant by 21 years, he had always wondered why even though each generation of his family had successful entrepreneurs, there was no build-up and transfer of wealth to the next generation. * Knowing most of his great grandparents personally helped instill values that formed the foundation for the role he currently plays in business generally. * Carl shares that the purpose of his family business is giving people a place to call home. * Explaining the benefits and process of introducing new family members. Carl notes that the disparity in the energy levels between him, his wife, and other family members, allows for productivity to be maximized in different areas. * So often the succession planning is focused on when the person passes away, but if we don't take other family members on a journey of understanding the business over time, when the time comes they won't have the understanding of it to enable a successful transition. * The Contribution Compass is a tool used to understand family members as individuals, their personalities, and predict the expected roles they would play in the family. It is also used in business as a commercial tool since there is a direct correlation between the make-up of business leaders in any business and the success of that business. * Regarding the formality surrounding the entry of other family members into the family business, Carl discloses that nothing would be gifted and members would have to buy into the business. He also emphasizes the need to legalize every aspect of this entry as he recommends for his clients too. * I encourage family members to deal with things when they're not topical because that's when it's least emotional. * Regarding planning ahead for families, the best place to start is to understand that being a shareholder doesn't necessarily mean sitting around the board table. It is also important to understand Family Governance from the perspective of defining what family means to each member. * The Governance structure is predominantly focused on determining directly family-related issues but the Operational Board side is driven by the underlying Family business. This is where families go wrong; when they cannot differentiate between Family Governance and Governance of a Profit Generation Entity. * While sometimes the family traditions do serve the purpose of bonding, in other cases, there is some resentment on the expectations from different family members based on such traditions. * From Carl to his kids: It is important to spend time with your grandparents and great grandparents or people connected to them from that generation because there are threads that enable you to understand how your family has developed, and what the core values or cornerstones of success for you family are, through that time of engagement. Episode Timeline: * [00:49] Introducing today's guest, Carl Bates * [04:04] Carl shares his professional backstory. * [14:28] The purpose of Carl's family business. * [16:17] Apart from you and your mother, are there other family members involved? * [22:43] The Contribution Compass * [28:00] In terms of families planning ahead, where do we start? * [30:39] Where does the distinction lie between a Family Council and the Operating Board? * [34:33] Differentiating between a Family Council and a Family Forum. * [36:45] What is one of the biggest challenges that families have when trying to put a governance structure in place for the first time? * [38:12] Comparing an Operational Family Business with one that is just "stewarding the wealth". * [43:50] How are families celebrating their uniqueness and traditions over the years? * [48:50] Carl's letter to his kids. For more episodes go to BusinessOfFamily.net (https://www.businessoffamily.net/) Sign up for The Business of Family Newsletter (https://www.businessoffamily.net/newsletter) Follow Mike on Twitter @MikeBoyd (https://twitter.com/MikeBoyd) If you feel it's appropriate, I'd so appreciate you taking 30 seconds to Leave a Review on iTunes (http://getpodcast.reviews/id/1525326745), I receive a notification of each review. Thank you! Special Guest: Carl Bates.

Episode 15: David Wells – “Family Governance – What it is and Why it is important for a family business to have a governance model”

Family Business Today

Play Episode Listen Later Jan 15, 2021 48:09

*Airdate 7/25/2018 No matter what the size of a family enterprise, the unique – and often volatile – mix of personal family relationships, business strategy and ownership criteria can create an emotionally charged environment that makes decision-making, not to mention day-to-day management…… Challenging. And as the founding generation ages, succession and power issues across an expanding family can create cascading concerns. In a study by pwc Global, 71% of family enterprises have NOT adopted any procedures for resolving conflict between family members. In today's episode, David will tell us: What is the Difference in a Family Council and a Board? What are the Benefits of having Structured Governance no matter what size Family Business you have? How does having Family Council Meeting help in Estate and Succession Planning for the Family Business? What would be the First Steps a Family Business Leader might take to set up a Family Council for your Business? To learn more about the Tennessee Center for Family Business, visit our website at www.tncfb.com. Podcast made with help provided by Visual Media Co. https://www.visualmediaco.com/

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Rania Labaki shares on Corporate Governance and how it connects with Family Governance. Incl best practices and what it takes to succeed.

Play Episode Listen Later Jan 6, 2021 21:07

Rania Labaki shares on Corporate Governance and how it connects with Family Governance. Incl best practices and what it takes to succeed. About: Bio: Rania Labaki, Ph.D. is Associate Professor of Management at EDHEC Business School, Director of the EDHEC Family Business Research Centre, and Family Business Fellow at Cornell University. She is actively involved in key roles in several international organizations, such as member of the board of the International Family Enterprise Research Academy (IFERA), family business advisor at Lansberg Gersick & Associates, head of the academic committee of FBN France, and co-Editor of Entrepreneurship Research Journal. Her current research and teaching interests revolve around the interplay between family dynamics and family business decision-making. Her extensive experience working with families around the globe includes governance design, strategic succession planning and development of responsible owners. A global speaker with presentations and lectures in over 50 countries across continents, Rania has numerous academic publications and articles in the international media, professional and press outlets such as Forbes, Les Echos, Le Figaro, CampdenFB, Tharawat, The Conversation, La Tercera, Le Nouvel Obs and Financial Times. She is recipient of numerous awards, grants and distinctions supporting and recognizing her contributions to the family business field, including the Barbara Hollander Award in 2020.

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Dr Vanessa Zamberk shares on Family Governance tools

Play Episode Listen Later Dec 28, 2020 27:08

Dr Vanessa Zamberk shares on Family Governance tools About: Dr. Vanessa Zamberk, nee Faktor, born in the United States, was educated in Germany and Switzerland. During her Master Program in Public Management at Bocconi, she worked for the last semester at the Housing Opportunity Commission of Montgomery County. For the next three years she gained professional experience at JP Morgen Chase and the 7th Art in NY. Back in Europe she enrolled in the doctoral program at the University of St. Gallen specialising in the field of governance. Research assistant at the affiliated Institute for Leadership and Human Resources, Vanessa also coordinated governance workshops and seminars for directors of the board. Writing her dissertation: “New Family Office Governance” she was invited as a Visiting Scholar by the Wharton Business School. As guest lecturer and participant of workshops and seminars for international organizations and companies she concluded that family enterprises from Frankfurt to Beijing face the same problems and aims, the optimisation of the family`s assets and their successful transmission to the next generation Her company WORKSHOP DUAL counsels and accompanies her clients during the design and establishment of a structured governance system covering strategy, defined communication channels, risk management and timely succession planning for the family and its business. Specific programs prepare the next generation for their future challenges and responsibilities. Confidential mediation facilitates conflict resolution. Workshop Dual assists with intra-generational philanthropic projects which result in a better alignment of the family identity by bring the different generations closer.

Family Office: How your family office can benefit from the tax reform

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Play Episode Listen Later Dec 16, 2020 11:45

New taxation rules, which have been adapted to the international standard, entered into force in Switzerland on 1 January 2020. The fifth episode of our Family Business Stories is dedicated to the effects and opportunities arising from this tax reform. We explain why international multi-corporations with the previous tax regimes are not the only companies that should pay attention to the new provisions. Step-up with grandfathering rules or replacement measures like the patent box or research and development deduction can also be attractive for family offices with subsidiaries operating in Switzerland, Swiss family businesses and SMEs.

Emma Rudge shares on Generational Transitioning in the Family Governance process.

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Play Episode Listen Later Dec 15, 2020 29:46

Emma Rudge shares on Generational Transitioning in the Family Governance process. Why our past can help us shape our future. About: Emma Rudge Family business consultant at the Family Business Consultancy Works with UK and international business families on generational transition, establishing family governance, managing family dynamics, integrating the next generation and more Runs next generation education programmes for single families and mixed groups Trains professionals from varied disciplines on working with business families Over fifteen years' experience working with business families Corporate legal background Private Wealth Lead at UK top 100 law firm Michelmores Linked in profile Emma has spent many years working alongside family businesses helping them to address and move beyond the challenges they face, in particular around succession and governance. She also runs bespoke training for families and their advisors. Emma has a background in Law, and is one of the founding Fellows of The International Centre for Families in Business.

Ian Marsh shares on Tackling Difficult Conversations as a family especially in the Family Governance process.

family talk tackling governance marsh difficult conversations family governance

Play Episode Listen Later Nov 25, 2020 35:51

Ian Marsh shares on Tackling Difficult Conversations as a family especially in the Family Governance process. About: Ian Marsh worked with business families for more than 40 years, first as adviser and litigator, later as trustee and confidant, and then as mediator and facilitator. During that time, he became fascinated by why smart, well educated, well meaning people who love one another often find it so hard to talk about the things that matter most to them (and, if they can't, what hope is there for the rest of us?). Today, he writes and speaks about the need for effective face-to-face conversation not simply so that we are heard, but also for our individual wellbeing and as a key tool in building cohesive communities in an increasingly polarised world. He also teaches speaking and listening skills wherever he can and promotes the teaching of oracy in our schools. Ian's book, “If it is so Good to Talk, Why is it so Hard?” brings together the latest neuroscience, ancient wisdom and his own experience and, through a series of guided reflections, shows how we can rediscover the power of conversation.

10. Strong Families Survive Tough Times with Guests Tom Rogerson & Shawn Barberis

The Family Biz Show

Play Episode Listen Later Nov 18, 2020 59:57

Strong Families Survive Tough Times What you'll learn: Strong families major in the majors. What are the majors? Why family meetings are a necessity and how to conduct a meaningful meeting. How to create a family entrepreneurial mindset and why most entrepreneurs fail at doing it. This week's guests: Tom Rogerson* Founder, GenLeg, Co. Tom is a recognized leader and pioneer in family governance and legacy planning. He had the privilege of meeting Jay Hughes 25 years ago who inspired him to transform his practice from “Preparing the Money for the Family” to “Preparing the Family for the Money.” Using his Six Steps to Healthy Family Governance, Tom has worked with over 250 families facilitating transparent communication, entrepreneurial motivation, philanthropic vision, legacy planning, succession development and then endowing the process for the future, all to create a life-long bond to last generationally. A few years ago Tom teamed up with his wife, a certified relationship coach, and started GenLeg Co., Inc. Together they provide guidance and education to families and their advisors, helping them transition significant capital, both financial (tangible) and human (intangible), from one generation to the next. Prior to starting a private practice, Tom was with Wilmington Trust, bringing his family governance and wealth management expertise as both a speaker and motivator to not only families but to Wilmington's client facing teams, helping them integrate Family Governance into the fabric of the client relationship. Previously, Tom was Managing Director of Family Wealth Services for BNY Mellon, National Director of Estate Tax Planning with State Street Global Advisors, and Director of Financial and Estate Tax Planning with Coopers and Lybrand. He holds a bachelor's in Economics from Ithaca College. Tom has spoken for The World Presidents Organization, Harvard University Business School, Tiger 21, The Lincoln Center, Yale University, Dallas Theological Seminary, Vistage, Museum of Modern Art, The Nature Conservancy, New York Botanical Garden, The Dallas Foundation, The New York Community Trust, The Boston Foundation, Heckerling, numerous estate planning councils, as well as many other organizations. Shawn Barberis* Founder, Aspida Advisory For over a decade, Mr. Barberis has served families and small businesses. Though he is astute, exacting and detail-obsessed, don't let him fool you. Shawn is a visionary, thriving on enthusiasm, humor and the company of like-minded individuals dedicated to hard work and financial ingenuity. Aspida Advisory is an independent financial advisory firm through our Registered Investment Advisory Firm, Aspida360. We work with you to determine what is in you and your family's best interests. The retirement Income Survival Kit (R.I.S.K.) analyzes the risks we face in retirement, and provides recommendations of income solutions that address each of your personal retirement risks. A+LIFE maintains the granite pillars of financial and estate planning while integrating the unquantifiable values of legacy and one's life's experiences. *Not affiliated with Lincoln Financial Advisors Corp. You don't want to miss it! ------ CRN-3330151-111320 The content presented is for informational and educational purposes. The information covered and posted are views and opinions of the guests and not necessarily those of Lincoln Financial Advisors Corp. Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies. Family Wealth & Legacy, LLC is not an affiliate of Lincoln Financial Advisors Corp. Lincoln Financial Advisors Corp. and its representatives do not provide legal or tax advice. You may want to consult a legal or tax advisor regarding any legal or tax information as it relates to your personal circumstances.

Nike Anani on Next Gen and Family Governance a journey