Family Business Audiocast

📢 Announcing the Global Launch of Wealth for Impact: Global Perspectives from the Next Generations of Wealth Holders This report explores how wealth is created, invested, spent, given, and transferred—through the lens of those shaping its future. We marked the occasion with two events yesterday: a public webinar hosted by Alliance magazine featuring Anita Athena Ibru , and a launch reception here in Zurich where I moderated a discussion between H.S.H Prince Max von und zu Liechtenstein, Nachson Mimran, Nadja Swarovski, and Maria Ahlström-Bondestam All of these incredible individuals are among people contributing to the study, and featured with their stories. 💡 I had the privilege of co-authoring the 'Wealth for Impact' report with Silvia Bastante de Unverhau, alongside our contributing authors from LGT Private Banking, Julia Kleiser, Benjamin Vetterli and Antonia Strachwitz. As a part of working on this, we interviewed 60 next-generation wealth holders from 30 countries, with a 50/50 gender balance. They are aged anywhere between 18 to 77 years; and from the second generation, all the way to the twenty-sixth. 💡 The conversation with our panelists on the importance of transferring values across generations was definitely a key highlight — this is a theme that resonates deeply with families navigating wealth, philanthropy, and impact. 💡 Nearly 200 participants joined our webinar and 100 attended the launch reception in Zurich — to each of these individuals, a big thank you for being part of this important discussion! 💡 We hope this report serves as an inspiration for wealth holders seeking to align their values with their actions and foster meaningful dialogue within their families. These events were just the first step to spark a much larger dialogue. If I may say so myself, this is a report that is as timely as it is pioneering. It's the culmination of a solid year of work by our broader UHNW team, and there are numerous aspects that I'd love to share with you in greater detail — so stay tuned in the coming weeks! We have lots to discuss :) 🔗 Read the full report here: https://lnkd.in/dDy5GGgz

Timeless advice on the power of family councils in enterprising families. Strong governance isn’t just for business—it’s crucial at the family level too. Worth a read! 👇 Christina Wing Wingspan Legacy Partners

Very interesting insights on the future of AI in family businesses by Robert (Bobby) Stover Jr 🌟

Congratulations to Alfredo De Massis on this insightful piece in the Journal of Family Business Strategy! 🎉 It explores the complexities of conflict in family firms, offering a comprehensive framework to help navigate and manage these challenges effectively. Well done on this important contribution to the field! 👏

Please join me, live, in a Family Business Audiocast with Judith L. Pearson…. …. Family office veteran, entrepreneur, founder of Precision Brokers, LLC, and creator of Nomadx, LLC 🔆 As the founder of Precision Brokers and creator of Nomadx MGA, she designs innovative risk transfer strategies that address the evolving complexities of wealth transfer and fiduciary responsibilities. 🔆 Judith has pioneered solutions in management liability, intellectual property, and fine art insurance. Her expertise extends to directors’ and officers’ liability, errors and omissions, and wealth transfer risk mitigation, making her a trusted advisor in the family office ecosystem 🔆 A sought-after speaker and thought leader, Judith has presented at Trust & Estate Forums, ABA Trust School, and FOX events. She is frequently quoted in major publications like The Wall Street Journal, The New York Times, and The Economist. ———— Details on the event: 🎙️ 💫 When: Monday, February 17 12:15pm EST | 11:15am CST | 10:15am MST | 9:15am PST 💫 Where: LinkedIn, X or YouTube Live 🔗 LinkedIn: https://lnkd.in/e3bUYdd2 🔗 X: https://lnkd.in/erTYN7Qb 🔗 YouTube: https://lnkd.in/eYsdGAKh _______ Family Business Audiocast - founded 2022 - includes guest experts in the family office, family firm, and family enterprise ecosystem. Family business is more than just a business…. it is a powerful and important ecosystem where family personal and professional dynamics intersect with business, wealth, philanthropy, purpose and legacy. ____ Note: Registration required. Event may be recorded. *After registration, click "view event". Please add event to calendar* Event link is live available exactly 15 mins prior to event. Produced and created by R. Adam Smith ____ Subscribe to our proprietary family enterprise newsletter and on the look out for our periodic expert contributor series. ——- Opinions presented on this audio-cast are personal, and do not represent the positions of speakers’ or guests’ organizations. #familyoffice #leadership #nextgeneration #succession #familybusiness #familyenterprises #familylegacy #innovation #entrepreneurship #businesssucession #wealthmanagement #family #generationalwealth #philanthropy #familyfirms #audiocast #fba

Kudos to our guest and friend Jason Ma on this role with Founders Bay and with Jasmine Shih and experts 🎙️ An impressive event and gathering of intellect and ideas 💡 💫 ThreeEQ: Preparing Next Gen Leaders for Greatness

Congrats to exit expert, Amy Wirtz … 🧰 exit planning is super critical to the ongoing continuity and legacy outcomes of family values and wealth. ….Exit planning for family businesses and family offices is a complex process that involves financial, legal, and emotional considerations. To consider 💭 1. Legacy and Wealth Preservation 📍 • Ensuring the family’s values, mission, and long-term vision continue after the transition. • Structuring the exit to maintain financial security and intergenerational wealth. • Implementing trusts, foundations, or philanthropic initiatives to align with family legacy goals. 2. Governance and Decision-Making 📍 • Establishing clear governance structures, including family councils and advisory boards. • Defining roles for family members versus non-family executives. • Creating succession plans with transparent guidelines to avoid conflicts. 3. Exit Strategies and Liquidity Planning 📍 • Evaluating different exit options: sale to third parties, IPO, management buyout, or generational transfer. • Structuring the deal to minimize tax liabilities and optimize financial outcomes. • Ensuring liquidity is available for family members who may need to cash out. 4. Family Dynamics and Conflict Resolution 📍 • Addressing emotional aspects of transition, including leadership shifts and generational expectations. • Implementing mediation or structured discussions to prevent disputes. • Educating the next generation to prepare them for leadership or stewardship roles. 5. Regulatory, Tax, and Legal Considerations 📍 • Structuring the exit in compliance with estate planning laws, tax regulations, and fiduciary duties. • Using legal vehicles like trusts, holding companies, and family constitutions. • Adapting to jurisdictional differences if assets and family members are spread across multiple regions. By addressing these key areas, families can ensure a smooth transition that aligns with their long-term vision while preserving both financial and relational capital. 📍 and of course considering #esops KKR Angelo Robles Thomas Deans, Ph.D. Exit Planning Institute

Transforming Family Businesses into Scalable Enterprises Turning a family-run business into a thriving enterprise is a challenge, but it’s a necessary step for long-term growth. Here are a few key areas to focus on for that transformation: 1. Professionalizing Leadership For family businesses to grow, leadership needs to evolve beyond the traditional family roles. This means bringing in skilled, non-family executives or establishing an advisory board that can provide fresh perspectives. Professional leadership ensures strategic decision-making, accountability, and better alignment with market demands. It also helps create a more structured, resilient organization, ready for expansion. 2. Formalizing Systems and Processes As family businesses grow, informal systems often no longer cut it. Transitioning to an enterprise means investing in scalable infrastructure: technology, efficient workflows, and standardized processes. This might look like automating certain operations, upgrading your IT infrastructure, or creating formalized HR and finance processes. The goal is to ensure the business can operate smoothly as it scales, without the bottlenecks and inefficiencies that often accompany rapid growth. 3. Planning for Succession Succession planning is a critical—but often overlooked—element of growth. It’s not just about who takes over the reins but also ensuring that the next generation (or external candidates) are adequately prepared for leadership. Formal mentorship programs, leadership training, and clearly defined succession timelines are vital to avoid disruption. Planning ahead for leadership transitions creates stability and allows the business to thrive through generations. By focusing on these key areas, family businesses can preserve their core values while setting the stage for long-term success as modern enterprises. #familybusiness #familyenterprise #generationalwealth #legacy #succession #nextgenleadership

Thomas Deans, Ph.D. 💫 thanks for this wisdom ! ..”As a family, we acknowledge the responsibility and privilege that come with the management of our wealth. We are committed to honoring the legacy of past generations by responsibly stewarding our resources. Our mission is to cultivate financial literacy, instill a strong work ethic and promote a culture of prudent decision-making among current and future generations. We aim to use our wealth as a tool for positive impact, supporting causes that align with our values and making thoughtful investments that benefit both our family and the broader community. Through transparency, education and a shared commitment to philanthropy, we seek to empower each member of our family to contribute meaningfully to the preservation and growth of our family’s legacy." 💡 …we welcome comments around this, and the most effective generational transfer mechanisms and dialogues in the market today Legacy. Impact. Charity. 🌎.