Wingspan Legacy Partners

At Wingspan, we’re sending our heartfelt wishes to everyone who celebrates Diwali. May this festival of lights fill your homes with joy, prosperity, and the brightness of new beginnings. May the spirit of Diwali inspire us all to foster unity and embrace the traditions that bring us closer as a community. Happy Diwali from all of us at Wingspan!

Are you part of the Next Generation in a family enterprise?   If so, you should check out Wingspan Forum, the premier, annual membership community for the #RisingGen. Designed to address the complexities of family enterprise leadership and connect you with a tightknit network of peers sharing similar journeys in a safe space, this community was crafted with leaders like you in mind. With two in-person summits, world-class speakers, virtual workshops, mentorship, networking opportunities, and more, Forum helps you build your legacy and prepare to shape the world of business.    Click below to learn more and inquire about membership. https://lnkd.in/eZ-cNiBX ~ Learn | Connect | Grow ~ #RisingGen #WingspanForum #LearnConnectGrow #FamilyEnterprise #FamilyBusiness

Just wrapped up the "Talk It Out: How Rising Gens Can Tackle Their Toughest Talks" webinar! 🗣️✨ We explored how to handle those critical but often avoided conversations in family enterprises. Some key takeaways: ➡ Plan ahead: Give everyone involved time to prepare and hold discussions in a neutral space. ➡ Set clear norms: Start with shared goals, foster collaboration, and be open about your perspective. ➡ Follow through: Once aligned, take ownership of next steps, assign roles, and follow up to maintain momentum. These conversations, though tough, are essential to building strong governance and thriving multi-generational family enterprises. If you missed it live, you can still sign up to check out the recording here: https://lnkd.in/ev9W5gcE #familybusiness #RisingGen #DifficultConversations #communication #WingspanLegacy #WingspanForum

For some family businesses, governance is an afterthought. But it shouldn’t be. Last year, Wingspan Partner Maryann Bell wrote about how governance provides the necessary scaffolding to keep family enterprises on track and successful. Some key arguments for structured governance include: 1. Intergenerational communication and investment in the family business. When one generation is in charge, #RisingGen family members may not be in the loop and, as a result, may feel detached from the business. 2. Accountability for business results. The CEO may be the one who receives praise or blame for the company’s performance, but sharing successes, misses, goals, and strategies within a governance structure ensures that family leaders are accountable. 3. Succession risk management. Without a governance structure in place, families may avoid difficult conversations around the family enterprise, and that can lead to problems when leaders are ready to step down or move into an oversight role. While setting up the proper governance structure for a family enterprise is no small task, it can pay dividends for generations to come. https://lnkd.in/egWSCqgq #FamilyEnterprise #FamilyBusiness #Succession #Governance 

📢 Don’t Miss Out: Important Rising Gen Webinar on Wednesday, October 30th There’s still time to register for Talk It Out: How Rising Gens Can Tackle Their Toughest Talks – a webinar designed to help Rising Gens navigate sensitive conversations within their family enterprises. 📅 Date: October 30th, 2024 🕑 Time: 2 PM ET Join Founder Christina Wing, along with David Shaw of Family Business Magazine as they explore practical strategies for tackling potentially difficult conversations about topics like succession, ownership, and family policies. Learn how to manage communication barriers and build stronger relationships across generations. 🔗 Register today: https://lnkd.in/emCh_XpV This is a great opportunity to gain expert insights and connect with peers. We hope to see you there! #FamilyBusiness #RisingGen #Webinar #Leadership #Communication

It was great to see President Andrew Peddar’s reflections on the recent The Family Firm Institute - FFI conference in London. His session on “Art Collecting in Entrepreneurial Families” highlights how art can connect family legacy across generations. At Wingspan, we appreciate conversations that inspire thoughtful stewardship. We look forward to continuing to engage in these important discussions with families and leaders shaping the future. #familylegacy #familyimpact #familybusiness #familyenterprise #FFI

Running a family business is a balancing act. Everyone wants the business to be successful, but it’s common for owners to have varying opinions on the best way to achieve that goal. Should the family legacy come before liquidity? What about dividend payments?  In a new article, Wingspan Legacy Director Hillary Sieber offers two case studies from family business giants that illustrate why liquidity should be a priority – and what can happen when it’s not: - Lack of liquidity inhibits growth.  - Illiquid companies may have difficulty raising working capital or obtaining financing.  - Disagreements around liquidity can create rifts between family members. Keeping a family enterprise on track requires a balance between liquidity and growth. With proper governance and open communication, family businesses can thrive while building lasting legacies. https://lnkd.in/dDn_5G3j #FamilyBusiness #FamilyEnterprise #Governance #FamilyLegacy #Liquidity 

~OCTOBER NEWSLETTER~ We just published the newest edition of Wingspan Perspectives! Click to read, and don’t forget to hit the “Subscribe” button to receive monthly family enterprise insights, Wingspan news, and invites to exclusive events. #FamilyBusiness #FamilyEnterprise #FamilyOffice #WingspanPerspectives #Newsletter 

We’re thrilled to share that Wingspan’s Rising Gen Mixer in Boston this week was even more successful than our summer gathering in New York! The attendance was amazing, the conversations were dynamic, and we continue to be impressed by the enthusiasm, creativity, and optimism of the attendees. The event reflected the pride these Rising Gens take in their family legacies and the importance of building meaningful connections with peers. Thank you to everyone who joined us! If you missed this one and are a member of the Rising Gen in a family enterprise, send us a message—we’d love to see you at the next event. #RisingGen #FamilyEnterprise #FamilyBusiness #Community #Connection #Networking 

On Wednesday, October 30th, Wingspan founder Christina Wing will be hosting a webinar with Family Business Magazine. The topic will be "How Rising Gens Can Tackle Their Toughest Talks" and will focus on practical guidance and advice. Christina brings years of experience shepherding families through challenging conversations around topics like family employment, ownership rights, succession planning, inheritance, and diversification. Rising Gens who attend will learn how to overcome common communication barriers, including fear of conflict, and get real-world examples and practical tools to help them navigate their toughest conversations with ease.  We hope to see you there! https://lnkd.in/e5Q4EPZ9 #WingspanLegacyPartners #FamilyBusinessMagazine #RisingGen #FamilyBusiness #FamilyEnterprise #Governance #FamilyCommunication