Let's Talk Family Enterprise
Lets Talk Family Enterprise explores global ideas, concepts and models related to family enterprise advising. Brought to you by Family Enterprise Canada, specifically created for FEA designates and members of Family Enterprise Canada.
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58: Sustainability and ESG in Family Enterprises
05/14/2024
58: Sustainability and ESG in Family Enterprises
Host Steve Legler speaks with Professor Pramodita Sharma about sustainability and how family enterprises are uniquely placed to take advantage of business trends in this area. Pramodita shares inspiring stories based on her research, and points family businesses and their advisors into some promising directions. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of . Guest bio Pramodita Sharma is the Schlesinger-Grossman Chair of Family Business at the Grossman School of Business, University of Vermont. She is a Research Fellow at the Thomas Schmidheiny Center for Family Enterprise at the Indian School of Business, and an advisory board member of the Jönköping International Business School (JIBS), Sweden. Among the highest-cited scholars in family business studies, her research on succession, governance, innovation, next-generation commitment, entrepreneurial leadership, and sustainability in/by family enterprises has appeared in journals like the Academy of Management Learning & Education, Entrepreneurship Theory and Practice, Family Business Review, Journal of Business Ethics, and Journal of Business Venturing, among others. Experiences and close interactions with her own family’s enterprises help keep her professional work grounded in the realities and complex dynamics of these fascinating enterprises that dominate the economic and societal landscape around the world. You can learn more about Pramodita Sharma on the and . Key Takeaways [:26] Steve Legler welcomes Pramodita Sharma and asks her to share an overview of her upcoming lecture at the Family Business Symposium focusing on the meaning of sustainability and the paths we can take to action. [4:11] Sustainability is a journey that begins with awareness; Pramodita shares what phases come after. [6:10] Family enterprises have a unique advantage regarding sustainability; the key is in the upcoming generations. [9:09] Pramodita talks about the pioneering companies already taking advantage of their unique position. [12:43] Sustainability as an antidote to the pressures of succession. [15:04] The journey to a purpose-driven life through sustainability business practices. [16:45] Case studies have proven to be a formidable multi-tool; Pramodita explains how she uses them and where the experience has been richest. [19:35] Pramodita shares her hope for case studies in Canada and takes a moment to share a personal story. [23:21] Is there an age or gender to the sustainability charge? [27:39] The case competitions Pramodita organizes. [32:20] Pramodita’s reading recommendation and advice for advisors. [34:33] Steve thanks Pramodita Sharma for sharing her research and knowledge and closes this episode by reminding listeners to rate and subscribe. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode , by Peter Lacy, Jessica Long, and Wesley Spindler will take place on May 27‒29, 2024 in Calgary. More about Family Enterprise Canada
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57: The Family Office Navigator
04/09/2024
57: The Family Office Navigator
In this episode, host Steve Legler speaks with Professor Peter Vogel of IMD Business School to discuss Vogel's recent book, Family Office Navigator. Together, they highlight the critical role advisors can play when business families consider setting up a family office or want to take a fresh look at what they currently have in place. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of . Guest bio Peter Vogel is a Professor of Family Business and Entrepreneurship. As an expert on family enterprises, he leads IMD’s work in this field as Director of the IMD Global Family Business Center and Debiopharm Chair of Family Philanthropy. He works with families, owners, boards, and executives of family enterprises and family offices around the world focusing on transformations, governance, ownership and leadership succession, wealth management, fostering entrepreneurialism and innovation within the system, and establishing professional boards and leadership teams. You can learn more about Peter Vogel on the and . Key Takeaways [:26] Steve Legler welcomes Peter Vogel and asks him to talk a little bit about how he and his organisation became involved in the family business space. [3:10] Peter touches on how family enterprises and offices are a worldwide trending challenge. [5:24] The Navigator concept was built for enterprising families, Peter explains how it eventually grew to be used by advisory positions also. [9:10] Setting up a family office is a complex process, but it can also be the ecosystem by which families can manage wealth effectively. [13:00] Keeping in mind that family offices will evolve alongside the families that build them; the focus needs to be on what works for them. [16:34] When it comes to thinking of family offices, who needs to be at the table? [19:53] A family office has to be designed to work for the family, Peter explains how the downloadable .pdf framework can help achieve that. [22:06] From the family office to other models, Peter explains why and how they are branching out into new frameworks. [25:45] The how of a family office isn’t the starting point and Peter offers how advisors can better guide families through the learning process. [28:27] Peter talks about the importance of experimenting, learning, and developing best practices for families. [31:22] Peter shares his book recommendations as well as his advice for advisors. [35:33] Steve thanks Peter Vogel for sharing so much of his expertise and closes this episode by reminding listeners to rate and subscribe. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode Peter’s recommendations: , by Josh Baron and Rob Lachenauer , by Dipo Faloyin , by Peter Vogel and Mario Marconi will take place on May 27‒29, 2024 in Calgary. More about Family Enterprise Canada
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56: The Link Between Family Business Research and Advising
03/12/2024
56: The Link Between Family Business Research and Advising
Ambreen Bhaloo, Family Enterprise Advisor, guest hosts this episode and welcomes Francesco Barbera, Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management for an in-depth discussion on the issue of homogeneity (all family firms are the same) vs. heterogeneity (all family firms are unique). In what ways does family governance lead to greater firm performance? Listen to this episode to find out! Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of . Guest bio Dr. Francesco Barbera is an Associate Professor of Entrepreneurship and Strategy at The Ted Rogers School of Management at Ryerson University. His teaching and research interests encompass a wide range of topics related to family business, entrepreneurship, small business management, and family business education. Francesco is an international, award-winning author and educator and regularly presents at renowned conferences and workshops. You can learn more about Dr. Francesco Barbera on the and on his . Key Takeaways [:26] Ambreen Bhaloo welcomes Dr. Francesco Barbera and invites him to share a little bit about his research interests and how they inform family advising. [5:22] Dr. Barbera explains the importance of heterogeneity research when it comes to family enterprises and what this means for advisors. [7:50] A recently published research explores how family structures impact the way governance leads to performance, Dr. Francesco shares some of the findings. [11:07] Dr. Barbera explains what family functioning is and why it affects firm performance. [16:11] The future of family business research looks heterogeneous; Dr. Francesco shares the areas of study he sees coming up next. [20:23] Staying up to date on the latest academic knowledge will require work on the family advisor’s part. [24:00] About Dr. Barbera’s work with the Family Institute. [27:18] Dr. Francesco Barbera’s advice for advisors. [27:48] Ambreen thanks Dr. Francesco Barbera for sharing his knowledge and closes this episode by reminding listeners about the upcoming Family Business Symposium held from May 27th to 29th in Calgary, Alberta. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode , Francesco Barbera and Tim Hasso, November 2022, Journal of Family Business Management 13(2) will take place on May 27‒29, 2024 in Calgary. More about Family Enterprise Canada
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55: Rising Gen Innovation and Creativity in Family Business
02/13/2024
55: Rising Gen Innovation and Creativity in Family Business
In this episode, Host and Family Enterprise Advisor, Aileen Miziolek, talks with Purpose & Identity Coach Perry Gladstone about how family businesses benefit from NextGen innovation and creativity while sharing solutions that allow all parties involved to find the agency and support they need to make it happen. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of . Key Takeaways [:26] Aileen Miziolek welcomes Perry Gladstone, purpose and identity coach, and asks him to share a little bit about his varied entrepreneurial background. [4:58] Upcoming generations bring many new identities to family enterprises. Perry shares how this affects companies and how to integrate them best. [7:51] Starting with values exercises is something Perry does not do; he explains his primary focus and why this technique can prevent conflict through trust-building. [10:51] Perry speaks to the fear everyone carries in times of change and how facilitation fosters the safety of all participants. [13:03] Individual work cannot be underestimated in strengthening the family enterprise structure. [15:44] Perry shares what the dreaming together tool does that the value exercise doesn’t. [17:37] New generations inevitably come with innovation; Perry shares where he has seen the most success in fostering innovative ideas. [19:34] Tension between two factions can be mitigated by slowing down time and allowing for experimentation. [21:59] Perry recaps how strength is built in a family system. [23:13] Perry discusses the role of the third entity as it relates to ownership. [24:40] Business owners vs. enterprising family; Perry shares how this might be the first thing to address. [28:24] Perry shares his recommended resources. [29:58] Aileen thanks Perry for sharing his knowledge and closes this episode by reminding listeners about the upcoming Family Business Symposium held from May 27th to 29th in Calgary. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode You can contact Perry on his website . , by Perry Gladstone , by Doug Baumoel and Blaire Trippe will take place on May 27‒29, 2024 in Calgary. More about Family Enterprise Canada
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54: 2023 Retrospective
01/09/2024
54: 2023 Retrospective
In their traditional annual “retrospective” episode, hosts Steve Legler and Ruth Steverlynck discuss highlights from some of the episodes that debuted in 2023, hoping to stimulate listeners to re-listen for great content they may have missed the first time. Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of . Key Takeaways [:26] Ruth Steverlynck guest-hosts this 2023 retrospective with host Steve Legler to discuss highlights from some of this year’s best episodes. [1:23] Episode 50 featured video and guests Jim Grubman, Dennis Jaffe, and Kristin Keffeler, and makes Steve’s must-watch list, Ruth touches on the positive discovery process. [6:50] Episode 46 was one where Ruth had the absolute pleasure of hosting Jay Hughes, discussing a wide range of topics, the Foundation named in his honor, and the wonderful things that it will be producing. [11:36] Episode 44 set the stage for a discussion with Coventry Edwards-Pitt on the often-overlooked significance of the prenup. Steve shares his thoughts on what the episode revealed. [15:40] Episode 47 dove into the work of Dr. Paul Hokemeyer on the unique type of isolation wealth brings along. Ruth shares some of the enlightening thoughts on growth she garnered from this episode. [21:14] Episode 51 highlighted one of this year’s new guest hosts: Ambreen Bhaloo and her guest Mike Sergeant. Steve and Ruth send some flowers their way. [24:23] Episode 52 was Aileen Miziolek’s turn to host her first guest Marita Fridjhon, Steve shares how he and Aileen met and why she was chosen as a female voice for the Let's Talk Family Enterprise podcast. [26:40] Episode 49 was one of Ruth’s favorites; she shares which takeaways and nuggets she still thinks about from David York’s interview. [30:35] Ruth and Steve share their current favorite resources for 2024. [33:39] Steve takes a moment to thank Ruth for launching this podcast project, now that she is stepping into different roles, and signs off until 2024. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode More about Family Enterprise Canada
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53: Working With Systemic Change in Family Business
12/12/2023
53: Working With Systemic Change in Family Business
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description In this episode, Aileen Miziolek talks with Marita Fridjhon, co-author of System Inspired Leadership: How to Tap Collective Wisdom to Navigate Change, Enhance Agility and Foster Collaboration, and co-founder of CRR Global. Together, they discuss the complexity of systemic change in family business; the importance of meeting people where they are, instead of where we expect them to be; the benefits of teams when working with family business systems; as well as ideas on modeling positivity to help families gain confidence in their ability to work better together. Guest bio Marita Fridjhon is co-owner and CEO of CRR Global and a mentor to an ever-growing community of practitioners in the field of Relationship Systems work. She excels in supporting client systems to uncover systems-inspired solutions from the collective wisdom within the larger whole. Marita is an accredited coach and trained therapist with degrees in Social Work and Medical Social Work. She completed her training in Psychiatric Social Work before acquiring qualifications in Process Work, Alternative Dispute Resolution, coaching, and team coaching. You can learn more about Marita Fridjhon on her and . Key Takeaways [0:32] Aileen Miziolek guest hosts this month’s episode and welcomes Marita Fridjhon. They discuss how to apply team coaching to families. [4:44] Marita touches on the application of the four-circle model to nested family systems in order to better serve as advisors. [7:56] Although the relationship with oneself is the starting point, Marita explains how the system itself also develops a unique and evolving personality. [10:00] Marita unpacks the strange permeability of boundaries within family systems. [12:07] The iterative phases of systemic evolution: meet, reveal, align, and act. [14:00] Marita reminds us there are multitudes within the self: be aware of which facet of the individual you are addressing. [16:17] Identity and expression of self are in constant flux. [18:45] Emotional literacy is on the decline, Marita explains how COVID-19 and a post-traumatic world are generating widespread fatigue. [20:10] There is no easy fix. [22:00] Empathy fatigue will inevitably generate larger conflicts that bleed from personal areas to business. [24:04] Marita offers that advisors may support their families more on the personal side, or the business side, but rarely both. [27:05] Marita offers a bit of history on the shifting boundaries between therapy and coaching and why some personal and professional advisory role-playing might best serve families. [32:11] Rather than finding positivity, Marita proposes to model it. She shares a practice she discovered and implemented at work. [37:00] Marita’s book recommendation as well as her advice for advisors. [38:20] Aileen thanks Marita Fridjhon for joining the podcast and sharing so much of her expertise, and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Frank Uit de Weerd, Marita Fridjhon More about Family Enterprise Canada
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52: Working With Family Relationship Systems
11/14/2023
52: Working With Family Relationship Systems
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description: Host Steve Legler welcomes Aileen Miziolek as his guest for a discussion about the intricacies of working with families, and how thinking about them as a "relationship system" can be useful. They discuss ideas around facilitation as an outsider invited to work with a family system, as well as using some basic family systems concepts that can help FEAs better understand the family relationships they encounter when working with clients. Guest bio Aileen Miziolek brings a multi-disciplined and integrated approach to her work, including 20 years of experience in complex financial and estate planning for business-owning families. She holds the CFP®, FEA, ACC, and ORSC designations. Aileen is co-author of Inspired Wealth, Financial Leadership for the 21st Century, a book that serves as a guide for making critical life choices about money to create a fulfilling life. Her guidance has helped hundreds of families through the unique opportunities and challenges they face in the areas of inter-generational wealth transfer, business succession planning, estate planning, and philanthropy. You can learn more about Aileen Miziolek on her and . Key Takeaways [:26] Steve Legler welcomes Aileen Miziolek and invites her to share a little bit about how she ended up in family systems coaching. [3:20] Coaching individuals outside of their systems leads to functional limitations and even conflict. Aileen explains how combined individual and system coaching offers results. [6:35] Outsiders to the system need to remain outside and impartial, advisors are well-placed to identify patterns. [8:28] Aileen’s “Pong” analogy. [9:51] What should be the very first meeting’s very first question? Aileen explains how she builds a safe container. [12:36] Aileen explains the ghosts in the system and how they can impact a business family. [15:06] The system’s mirror may be its greatest function. How advisors can build system awareness. [16:10] Aileen points out a potential pitfall: are you making the family up? Striking the right balance between structure and flexibility. [18:16] Aileen offers a sibling example of conflict with positive outcomes and the attitude the advisor should have in the presence of conflict. [21:47] The learning family culture is how Aileen reframes conflict for families. She shares how she manages system pressure. [24:39] Nurturing a system’s belief in its ability to overcome is an important part of how Aileen works. [26:40] Aileen touches on the increase of systems work being done with siblings. [29:10] Aileen shares her reading recommendation as well as her advice for advisors. [31:24] Steve thanks Aileen for joining the podcast and sharing so much of her expertise, and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Frank Uit de Weerd, Marita Fridjhon More about Family Enterprise Canada
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51: Communication Dynamics in Business Families
10/10/2023
51: Communication Dynamics in Business Families
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. This month, we welcome Family Business Member, FEA and Family Enterprise Foundation Board Member, Ambreen Bhaloo, as guest host of our podcast. Ambreen welcomes , former BBC Correspondent, Speaker and Coach to talk about the lessons of high impact communication and listening, drawing on his experiences working in dozens of countries over 25 years, from war zones to Westminster to corporate boardrooms. Enjoy this engaging conversation! Guest bio Mike Sergeant is a former BBC TV correspondent who helps people become better communicators, giving them clarity and confidence. Mike’s speeches, workshops, and coaching sessions distill the lessons of high-impact communication, drawing on his experiences in dozens of countries over 25 years from war zones to Westminster to corporate boardrooms. You can learn more about Mike Sergeant on his and . Guest host bio Ambreen Bhaloo is 2nd generation of an enterprising family and understands first-hand the complex and competing demands of family, business/management, and ownership. She lives in Toronto with her three children. Ambreen holds an honors degree from Western University and a Master’s in Education from the University of Pennsylvania. She is a Certified Co-Active Professional Coach (CPCC) and a Family Enterprise Advisor (FEA). You can learn more about Ambreen Bhaloo on her and . Key Takeaways [:26] Guest host Ambreen Bhaloo introduces herself and welcomes Mike Sergeant to the podcast for a discussion on communication in business families. [1:58] Mike shares his story into journalism, some of his most spectacular pieces, and how acting gave him a solid foundation to better communicate. [4:11] Fear or excitement, Mike offers his perspective on an often vilified emotion, even in the midst of a war zone. [6:06] From journalist to organisation, governmental, and business family coach, Mike shares the skills that he found useful in this transition. [7:47] Mike’s tips for building trust and confidence in new client families and how trust leads to better working relationships. [10:40] What the generational wealth transfer coming in the next few years heralds as opportunities and challenges. [12:33] Mike explains how family narrative can help build better communication and purpose. [15:30] Step by step, what does it take to build a proper narrative? Mike shares critical aspects of storytelling. [18:45] Taking the time to analyze family stories can build a broader understanding of the overarching family story. [20:33] Each family is different and each family business is run differently; this means that storytelling will have varying degrees of intimacy. [22:11] House of Gucci. [24:38] The generational wealth transfer is also a value transfer. Mike offers that the upcoming gen needs to evaluate what they want to keep and change. [26:56] After travelling the world, Mike offers the similarities and differences he has found within business families. [28:56] Mike shares his reading recommendation as well as his advice for advisors. [31:25] Ambreen thanks Mike for joining the podcast and sharing so much of his knowledge and experience, and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Dr. Pippa Grange More about Family Enterprise Canada
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50: Wealth 3.0
09/12/2023
50: Wealth 3.0
Special Video Episode: Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. DescriptionIn this special 50th video episode, host Steve Legler speaks with all three authors of the recently released book, Wealth 3.0: The Future of Family Wealth Advising, Jim Grubman, Dennis Jaffe and Kristin Keffeler. Together, they discuss both the past and future of the field of advising families about wealth issues and cover some of the differences between working with family businesses, family enterprises and families of wealth. To mark the 50th episode, this podcast is presented in video format, a first for Let’s Talk Family Enterprise! If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . More about Family Enterprise Canada
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49: Stewardship for Enterprising Families
07/11/2023
49: Stewardship for Enterprising Families
Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Steve Legler speaks with David York, author of The Gift of Lift and Entrusted, about the concept of stewardship and how it applies to enterprising families. York also shares his three questions that every rising generation family member needs to have answered, along with his views on the continuum that runs from entitlement to enslavement. Guest bio David R. York David R. York is an Attorney, Certified Public Accountant, and Managing Partner with the Salt Lake City law firm of York Howell. David practices law in the areas of estate planning, tax, business planning, and non-profit entities. He is a Fellow with the American College of Trust and Estate Counsel (ACTEC) and is the Dean of Legacy with the Purposeful Planning Institute. David has extensive experience in designing and implementing advanced wealth planning strategies for high-net-worth clients. He is the co-author of three books, Entrusted: Building a Legacy That Lasts, Riveted: 44 Values that Change the World, which after its release was the #1 Business Ethics book on Amazon, and The Gift of Lift. You can learn more about David R. York on his and . Key Takeaways [:26] Steve Legler welcomes David R. York to the podcast and asks him to talk a little bit about the subtitle of his latest book: Harnessing the Power of Stewardship to Elevate the World. [4:21] David played “slug bug” as a kid, he makes a parallel with looking for and finding examples of stewardship in the world. [5:50] Though we use and hear the word a lot, stewardship is rarely defined. David offers the working definition he came up with in his book as well as the opposite of stewardship: consumerism. [8:36] Transcendence and investment characterize stewards, David talks about the ill-perceived trait of entitlement and shares his experience in a five-generation vineyard in Verona. [11:49] Stewards have a unique perspective on the relationship with the past, present, and future. David shares the four key building blocks of stewards. [13:55] David dives into the notions of equality of opportunity and cost versus value. He also touches on the four Ps: purpose, preparation, perspective, and participation. [18:35] The insidious problem of snowplow parenting and the problem of perceived entitlement. [20:11] The three critical questions David poses to help families surmount the biggest issues surrounding wealth transfer. [25:16] Entrusted is right in the middle between entitlement and enslavement; Steve and David break down how to keep the balance through rights and responsibilities. [29:04] David’s reading recommendations and his advice for advisors. [32:12] Steve thanks David R. York for joining the podcast and sharing so much of his learnings, and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , and other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by David R. York , by Adam Grant More about Family Enterprise Canada
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48: Préparer la prochaine génération
06/15/2023
48: Préparer la prochaine génération
Dans cet épisode spécial, l'animatrice invitée Lianne Ulin s'entretient avec Olivier de Richoufftz, secrétaire général de la Fondation des familles entrepreneuriales, du dernier rapport de recherche sur la continuité par Fondation des familles entrepreneuriales, Préparer la prochaine génération : feuille de route pour les entreprises familiales, disponible en anglais et en français. Hôte Lianne Ulin a rejoint le groupe M Bacal en 1998 car elle voulait apprendre l'entreprise familiale. Lianne possède les connaissances et l'expérience qui assureront la continuité des principales valeurs de M Bacal à l'avenir. En tant que vice-présidente des finances et de l'administration, Lianne gère le bureau et nos clients en sont venus à la considérer comme la personne à contacter pour tous leurs besoins en matière de service à la clientèle. Elle est spécialiste certifiée des prestations du vivant (CHS) et FEA (Family Enterprise Advisor). Pour plus d’informations au sujet de Lianne Ulin visitez le site web de et . Invité Olivier de Richoufftz compte plus d'une décennie d’expérience auprès d’organisations soutenant les familles d’affaires ainsi que dans la croissance et la consolidation de leurs réseaux. Sa connaissance des enjeux importants auxquels les familles d’affaires sont confrontées de génération en génération se combine à un MBA d’HEC Paris et à sa vaste expérience en marketing, vente et développement. Il a travaillé pour des organisations telles qu’Euro Disney Resort et France Tourisme, et ainsi apporte une perspective stratégique et innovante à la Fondation des Familles Entrepreneuriales. Pour plus d’informations au sujet d’Olivier de Richoufftz, visitez le site web de la et . Notes [0:29] Lianne Ulin est vôtre hôte pour cet épisode spécial, elle reçoit Olivier de Richoufftz pour discuter des résultats de la plus récente étude menée par Family Enterprise Canada. [1:59] Olivier explique quelles différences existent entre l’éducation formelle, les groupes de pairs et le mentorat pour préarer la relève à intégrer une entreprise familiale ainsi qu’à quel moment cette éducation devrait débuter. [5:21] Planifier ‘avec’ ou planifier ‘pour’, Olivier met en lumière l’importance de mitiger nos biais et d’éviter la transactionalité dans l’intégration de la prochaine génération à l’entreprise familiale. [7:38] Le futur appartient aux prochaines générations, et les technologies qui en sont issues aussi. Olivier partage l’importance des questionnements éthiques dans l’éducation de la relève en ce qui à trait aux technologies. [11:40] Sans vouloir conseiller des généralités, Olivier offre qu’il existe des constantes pour communiquer plus efficacement avec les générations à venir. [13:28] Olivier explique ce qu’il entend par ‘le futur se rétrécit’ pour la génération montante, il offre aussi ce que la génération actuelle aime entendre d’eux. [16:00] Lianne remercie Olivier d’avoir accordé son temps et ses connaissances pour cette discussion. Si vous avez apprécié cet épisode, abonnez-vous à Let’s Talk Family Enterprise sur , ou tout autre application qui diffuse des balados. N’oubliez-pas de partager avec votre famille, vos amis et vos collègues. Partagez vos idées avec nous au Mentionné durant l’épisode Le balado Let’s Talk Family Enterprise est présenté par . Family Enterprise Canada
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48: Preparing the Next Generation
06/15/2023
48: Preparing the Next Generation
In this special episode, guest host Lianne Ulin speaks with Richa Arora, Executive Director of KPMG Family Office about the latest continuity research report by Family Enterprise Foundation, Preparing the Next Generation: A Family Business Roadmap, made available in English and French. Host bio Lianne Ulin joined M Bacal Group in 1998 as she wanted to learn the family business. Over the past 21 years she has learned how to marry the client’s needs with the best in class innovative insurance solutions available. As the VP Finance and Administration, Lianne manages the office and our clients have come to rely on her as the go to person for all their customer service needs. She is a certified living benefits specialist (CHS) and FEA (Family Enterprise Advisor). You can learn more about Lianne Ulin on the and on . Guest bio Richa Arora leads the Dynamics and Governance Practice in the Greater Toronto Area (GTA) and serves as a Lead Relationship Manager for Multi Family Office clients. She has been with KPMG for over a decade and brings over 19 years of diverse global experience to the Family Office team. Richa works with family enterprises, and large private and public corporations in a variety of industries. Richa’s deep experience in management consulting, human resources, and leadership development allows her to work with multi-generational families in developing custom roadmaps to suit their unique circumstances. As a Senior Family Advisor, she serves as a primary relationship link between Family Office clients, internal and external subject matter experts, and financial institutions. You can learn more about Richa Arora on the and on . Key Takeaways [0:29] Lianne Ulin is your host for this special episode, she welcomes Richa Arora of KPMG to discuss the results of the latest research released by Family Enterprise Canada. [1:30] Richa explains what families can do to introduce children to and prepare them for the family business. [3:56] The functional differences between formal education, mentorship, similarly-minded peers and external advisors as it relates to guiding children within the family business. Richa also offers which might provide more value. [6:59] Planning “with” versus planning “for”: Richa shares a canoe metaphor to illustrate the importance of working together. She talks about how to better engage and integrate the next generation family members into long term planning. [9:22] The latest report indicates that families aren’t quite ready for AI. Richa explains the position largely held by family business leaders when it comes to the role of nextgens and emerging tech. [11:51] With the report results in hand, Richa shares her advice for current family leaders on communicating effectively with the next generation to leave them feeling prepared, as well as tips for the upcoming gen to respectfully find their path. [14:10] Richa speaks of her own experience on the importance of creating a feeling of safety when it comes to succession planning, as well as the pivotal role of storytelling in effective communication. [17:11] Lianne thanks Richa for coming on to the podcast and sharing the results of this report. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , and other podcast apps. Please remember to share this episode with family, friends and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . More about Family Enterprise Canada
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47: Fragile Power: Why Having Everything Is Never Enough
05/09/2023
47: Fragile Power: Why Having Everything Is Never Enough
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description In this episode, host Steve Legler speaks with Dr. Paul Hokemeyer, a renowned psychotherapist who works with individuals and families all around the world. Together, they discuss Paul’s book, Fragile Power, and venture into the challenges of working with exceptional clients from minority populations of the ultra-wealthy, including the narcissistic and the addicted, and how FEAs can try to better serve such family clients. Guest bio Dr. Paul Hokemeyer (J.D., Ph.D.) believes mental health matters for everyone, everywhere. He is the founding principal of Drayson Mews and the author of seminal resources for UHNW individuals, couples, and families seeking culturally respectful and clinically effective mental and relational health services. Prior to graduating from the Harvard Medical School’s Global Leaders in Healthcare program, Dr. Paul explored the use of digital technologies to improve the delivery of behavioral health services to disenfranchised global communities at the Yale School of Management. Dr. Paul’s research in the realm of UHNW identity and behavioral health has been peer-reviewed and published by the Journal of Wealth Management, the International Family Offices Journal, Globe Law and Business, and Lambert Academic Press. You can learn more about Dr. Paul Hokemeyer on . Key Takeaways [0:26] Steve Legler introduces Dr. Paul Hokemeyer and asks him to talk about his book, and more specifically its subtitle: Fragile Power: Why Having Everything Is Never Enough; Lessons from Treating the Wealthy and Famous. [3:36] Qualitative wealth tends to be non-linear and messy and will affect quantitative wealth. Dr. Hokemeyer shares how he thinks advisors and advisory firms might best navigate issues in this realm. [6:40] Recognizing, understanding and networking in order to better support families. [8:38] Challenging self-reinforcing traits as they relate to minorities in positions of power: isolation, suspiciousness of outsiders, and hyper-agency. [14:23] Earning trust for a clinician is a tall order, Dr. Hokemeyer shares an example that explains the luxury rehab culture and how to avoid the biggest pitfalls. [21:20] The handshake business of finding humanistic care. [22:37] Dr. Hokemeyer explains how narcissism develops and why this trait may be more frequent in UHNW. He also abounds in the way of relying on empirical data and credentialed professionals. [28:21] The two extremes of powerful and powerless minorities harbour stark internal similarities, despite their ever-growing divide. [31:44] Dr. Hokemeyer shares his reading recommendations as well as his piece of advice for advisors. [32:44] Steve thanks Dr. Hokemeyer for joining the podcast and sharing so much of his expertise, and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , and other podcast apps. Please remember to share this episode with family, friends and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Paolo Coelho More about Family Enterprise Canada
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46: In Conversation With Jay Hughes
04/11/2023
46: In Conversation With Jay Hughes
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Ruth Steverlynck sits down with industry giant James E. Hughes, author of several seminal works in the family enterprise space, to find out more about his new Foundation: The James E. Hughes, Jr. Foundation and the important role it will play in ensuring FEAs and family business leaders can benefit from all the Foundation is doing in support of their work with business families. Guest bio James E. “Jay” Hughes, Jr. is a sixth-generation counselor-at-law, now retired, author and co-author of multiple books and influential articles on family governance and wealth preservation. He is renowned for facilitating multigenerational family meetings, with an emphasis on governance issues. Hughes is frequently called on to address international and domestic symposia on helping families to flourish through the growth of their human, intellectual, spiritual, social, and financial capital. You can learn more about Jay on his and the . Key Takeaways [0:26] Ruth Steverlynck introduces and welcomes a very special guest — the man who revolutionized the field of wealth management — James “Jay” E. Hughes. [4:03] The James E. Hughes Jr. Foundation was launched without his knowing! James shares the story of how it came to be, and the two things he asked to be changed at its inception. [7:29] Supporting families flourishing is an endeavour that traces its roots to ancient times. The foundation hopes to disseminate and propel those thought lineages into the future through publishing previously impossible-to-access works. [12:24] Jay shares his hopes for what impacts the foundation will have in the future: alleviating unnecessary suffering without battling entropy. [17:04] Jay shares two seminal works that the foundation has disseminated. [21:16] Jay shares his thoughts on the most valuable thing on earth as well as what people can do to support the foundation’s work. [25:10] Jay talks about the foundation’s latest work on translation in the 4th economy and shares the website for people to go dig a little deeper. [28:42] Jay shares two books that have influenced him and his advice for advisors. [34:02] Ruth thanks Jay for joining the podcast, but also for the immeasurable contributions he has made to the field and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . Books by James “Jay” E. Hughes Jr. Book recommendations from Jay , by Aristotle , by Aristotle , by John Locke More about Family Enterprise Canada
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45: The Myth of the Silver Spoon
03/14/2023
45: The Myth of the Silver Spoon
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Host Steve Legler speaks with Kristin Keffeler about her recent book, The Myth of the Silver Spoon: Navigating Family Wealth & Creating an Impactful Life. They discuss how advisors to enterprising families and families of wealth can become resources to the rising generation of these families as they face challenges that are typically overlooked by society. If you enjoy this episode and want to hear more from Kristin, don’t miss out on her presentation at in Ottawa, May 29 – 31. Guest bio Kristin Keffeler, MSM, MAPP Kristin is a thought leader, speaker, and consultant at the forefront of a global shift in family wealth advising, known as Wealth 3.0. She guides affluent and enterprising families, rising gen, and the professionals who support them in embracing the positive power of wealth and doing the “inner work of money.” You can learn more about Kristin Keffeler on and the website. Key Takeaways [:26] Steve Legler welcomes today’s guest Kristin Keffeler and asks her to talk a little bit about the impact her peak human performance and positive psychology background have had on her new book. [9:08] Kristin shares her perspective on the myth of the silver spoon. [12:20] Clearing the clutter is an analogy Kristin uses to give perspective to the rising generation. She breaks down the four kinds of clutter. [15:30] Budgeting is empowering, even in a situation of plenty, Kristin explains why. [18:37] The identity factors that made some rising gens systematically thrive. [20:45] Kristin shares her tips for advisors to help families lay good foundations. [25:15] Having some “skin the game” in their own life is a critical part of skill building for younger generations. [26:50] Being born into wealth shouldn’t mean you are forced into any specific path in life. [30:36] Kristin shares her book recommendation and a piece of advice for advisors. [34:27] Steve thanks Kristin for sharing so much of her learnings and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Kristin Keffeler , by Dr. Becky Kennedy More about Family Enterprise Canada
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44: Prenuptials: Engaged Healthy, Wealthy & Wise
02/14/2023
44: Prenuptials: Engaged Healthy, Wealthy & Wise
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their family clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Steve Legler speaks with Coventry Edwards-Pitt about her third book, Engaged Healthy, Wealthy & Wise, which tells the true stories of wealth inheritors and their significant others, and how they navigated the situations surrounding the prenuptial agreements they were asked to sign by the family’s well-meaning advisors. Guest bio Coventry Edwards-Pitt As a Partner and the Chief Creative Officer at Ballentine Partners, Covie is responsible for thought leadership for the firm and ensuring that the firm brings novel thinking to our clients. She specializes in helping her clients manage their wealth’s impact and ensure that their comprehensive wealth management strategy reflects their families’ values and goals. You can learn more about Coventry Edwards-Pitt on and the website. Key Takeaways [0:26] Steve Legler introduces today’s guest, Coventry Edwards-Pitt, and invites her to share a little bit about her third book, . [1:46] Covie frames her latest book in the broader context of the first two: Healthy, Wealthy & Wise and Raised Healthy, Wealthy & Wise. [3:48] Flipping the usual engagement-related questions on their heads! [6:04] Covie talks about the pain she heard in the book interviews that led her to see what is broken in the way families of wealth and their advisors tackle the question of engagement and marriage. [8:25] No one ever really broaches the subject of that process, sharing these stories is a way of alleviating the emotional burden while trying to find a better way. [10:50] The David and Goliath issue facing young couples beyond losing their sense of agency, loyalty, equality, and unity with each other. [12:36] Covie shares a story that she calls the gold standard. [14:10] Covie explains the history of the prenup and how it’s evolved over time. [16:22] If the strong majority of couples are made up of one inheritor and one not, how can we build a better prenup process so as not to generate discord in young couples? [17:23] It isn’t about if to prenup, it’s about how. Coie speaks to how an advisor’s role could be modified to better tackle the “how” of prenups. [19:45] Covie shares best practices and talks about sibling relationships and how they might present particular challenges when it comes to prenups. [23:12] Agency and autonomy is a new generation goal, Covie shares an example. [25:20] Covie shares her thoughts on how advisors can better support their families. [30:28] Covie shares her reading recommendation as well as her advice for advisors. [35:00] Steve thanks Coventry Edwards-Pitt for sharing so much of what she learned and signs off until next month. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Coventry Edwards-Pitt , by Laurie Israel , by Kristin Heaney More about Family Enterprise Canada
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43: The Best of 2022 (A Retrospective)
01/10/2023
43: The Best of 2022 (A Retrospective)
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Regular hosts Ruth Steverlynck and Steve Legler discuss some of their favourite guests and topics from the 2022 episodes they each hosted. They once again share their greatest takeaways in the hopes of bringing back good memories and encouraging listeners to go check out episodes they may have missed along the way. Key Takeaways [0:26] Steve Legler and Ruth Steverlynck are both your host — and guests! — for this special end-of-year episode. [1:05] Steve welcomes Ruth to the podcast, they share how much they enjoy revisiting episodes and highlighting some of the more salient moments of 2022. [2:38] Steve shares his take on the most recent episode “The Quest for Legitimacy” with Dr. Weiner. [6:13] Ruth talks about what she took away from the episode with Dr. Weiner and how she has adapted her practice. [7:07] Steve asks Ruth to share her highlights on the episode with Amy Hart Klyne and talks about the secret sauce and how to best use Amy’s book. [10:29] Steve and Ruth each share how Amy’s advice should be part of all advisory work. [12:07] “Family Champions and Champion Families” with Joshua Nacht was a memorable episode also; Ruth shares how this discussion on continuity had an impact on her. [14:44] Steve talks about how Joshua’s research unfolded and how this one unpaid, unnamed role came to light. [17:00] “Inheritance Styles, a Roadmap For Rising Generations” with Robin Catlin brought to light a category of inheritor type Steve wasn’t aware of before. [17:40] Ruth explains what PPI and FFI are and shares how the extremely useful Robin Catlin episode shifted how she approaches her work with inheritors. [23:30] Eighty-eight contributors participated in Peter Jaskiewicz’s book. The episode “Enabling Next Generation Legacies” distilled their perspectives. [26:40] Ruth shares her surprise at how “uncomfortable” some of the rising gen questions can be as well as how surprised and delighted she was with Peter’s book recommendation. [29:06] Ruth shares that relistening to “Balancing Leadership at Home and at Work” with Deena Chochinov kind of made her realise how much of a Deena fangirl she is! [31:48] Steve shares the note he put in bold from this episode and why he thinks every advisor needs to do the same. [33:14] People need to be heard, and leading with relationship will get you further than your expertise ever could. [34:42] Ruth closes out the episode by giving a shout-out to the unsung hero of the podcast, Christopher Rogers! As well as the upcoming FEC symposiums in May 2023. [36:10] Steve and Ruth share their reading recommendations and sign off on 2022. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast apps. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . — Dr. Weiner — Amy Hart Klyne — Joshua Nacht — Robin Catlin — Peter Jaskiewicz — Deena Chochinov Ruth and Steve’s reading recommendations: , by Patrick M. Lencioni , by Dorothy Strachan More about Family Enterprise Canada
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42: The Quest for Legitimacy
12/13/2022
42: The Quest for Legitimacy
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Steve Legler speaks with Dr. Jamie Weiner, author of the recent book, The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World. They discuss the challenges faced by rising generation members of enterprising families and how we as FEAs can better support our family clients by shedding light on these challenges, which are often invisible to their parents. Guest bio Dr. Jamie Weiner Dr. Weiner is a clinical psychologist with over 40 years of experience. In addition to his work with individuals and families, he successfully designed structured programs and systems to address the broad range of challenges people face and is credited with delivering over 100 lectures and workshops. He also has a Certificate in Family Business Advising and Family Wealth Advising from the Family Firm Institute and is the co-author of The Legacy Conversation: the missing gem in wealth planning. You can find out more about Dr. Jamie Weiner on and the website. Key Takeaways [:26] Steve Legler, your host for this episode, welcomes Dr. Jamie Weiner and asks him to share a little bit about how he started working on the idea of legitimacy. [5:17] Dr. Weiner shares how the interview process for his most recent book went and how his reputation enabled a long list of warm introductions. [6:55] From a bunch of interviews to a university research project, Dr. Weiner shares how he met Frank Barbera in an elevator. [8:00] An econ-sociological analysis of the data uncovered a four-phase journey — or Quest — that is universal to all rising gen members: awareness, tug-of-war, exploration, and taking ownership of your life. [10:59] The non-linear nature of the phases, as explained by Dr. Weiner. [12:51] How can advisors use the information in the book to better reach the rising gen? Dr. Weiner shares the two things the “now” generation doesn’t understand. [16:33] Dr. Weiner shares a butterfly story as an allegory for harming while trying to help. [18:43] Affluenza as a damaging concept. [22:29] The true stories that populate the book find a way to speak to everyone, even J. Hughes! [26:00] Creating opportunities to have discussions is a critical part of the advisory service — courage also! [29:10] Dr. Jamie shares his book recommendation as well as his advice for advisors. [30:58] Steve thanks Dr. Jamie Weiner for coming on the show to share so much insight with the audience. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast app. Please remember to share this episode with family, friends, and colleagues.Share your thoughts with us at [email protected]. Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Jamie Weiner Reading recommendations: , by Viktor E. Frankl More about Family Enterprise Canada
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41: Enabling Next Generation Legacies
11/08/2022
41: Enabling Next Generation Legacies
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Steve Legler speaks with Professor Peter Jaskiewicz about the book, Enabling Next Generation Legacies: 35 Questions that Next Generation Members in Enterprising Families Ask. They discuss the fact that the rising generation in many family enterprises gets neglected for too long, even though they are the ones who are the key to sustaining the family's legacy. They also talk about ways that FEAs can use the book when working with family clients to help initiate important family discussions. Guest bio Peter Jaskiewicz Professor Peter Jaskiewicz is the University Research Chair in Enduring Entrepreneurship at the Telfer School of Management at the University of Ottawa. He conducts quantitative and qualitative research on entrepreneurship and family business. His current research focuses on antecedents of transgenerational entrepreneurship and corporate reputation in family and founder firms. He is also an Advisory Board member at Venture for Canada. You can find out more about Peter on the Telfer School of Management at the University of Ottawa and follow him on Twitter . Key Takeaways [0:26] Steve Legler, your host for this episode, welcomes Peter Jaskiewicz and asks him to share a little bit about how he constructed his latest book. [4:08] Peter shares what four categories came to the fore when organizing the questions next-generation members had submitted for the book. [7:30] From 35 questions to more than 35 answers, Peter shares the process of getting academics and Laypeople to participate in the book. [9:58] Peter explains how this book can best be used by advisors and why it helps to normalize questions. [16:05] The independent third party is one way of introducing and tackling tough subjects, Peter shares an anonymous example. [19:44] Peter speaks on what legacy means and how his work touches on the relationships between founders and next generations and the process of rejuvenation. [23:49] Peter touches on the primary focus of the Family Enterprise Legacy Institute. [26:00] The feedback for the book is threefold. Peter explains how endorsements drive positive results. He shares what question from the book he found most interesting. [30:24] Peter shares his book recommendations as well as his one piece of advice from an advisor to other advisors. [33:30] Steve thanks Peter for coming on the show to share so much of his expertise with the audience. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast app. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at . Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Peter Jaskiewicz and Sabine Rau Peter’s reading recommendations: , by François Lelord More about Family Enterprise Canada
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40: Balancing Leadership at Home and Work
10/11/2022
40: Balancing Leadership at Home and Work
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Ruth Steverlynck sits down with Deena Chochinov to talk about her new book, Home Work How to be a Leader in the Boardroom and the Living Room. Deena shares insights and tools from her work that are particularly relevant to advisors working with family enterprises. Guest bio Deena Chochinov is a Registered Clinical Counsellor with a private practice in Vancouver since 2000. She has a Master’s in Counselling Psychology from the University of Manitoba and a Post-Master’s in Family Therapy from the University of Pennsylvania and the Philadelphia Child Guidance Clinic. Deena is also a Family Enterprise Advisor, certified by the Institute of Family Enterprise Advisors, and a member of the BC-OD Network. You can find out more about Deena on her . Key Takeaways [:26] Ruth Steverlynck welcomes Deena Chochinov and asks her to share a little about herself, even though she may need no introduction for most listeners! [2:34] Deena shares how she decided to write the book HomeWork, despite already wearing three different hats, why add a fourth? [4:25] What Deena has learned as a systems practitioner in family enterprise advising that she found imperative to share: a unifying antidote to divided business and personal identities. [8:45] Integrated and whole leadership is a two-part subject to understand and master, Deena explains the “how” and the “what.” [11:58] Leadership qualities Deena has identified to be essential over her 30-year career, through the lens of family advising. [14:25] The “what” of leadership is well exemplified by a case study as shared by Deena in her book. [16:31] Personal work and introspection can be scary, Deena explains why it is critical when working with families that have to navigate business and personal so intimately. [21:16] Why is Deena sharing all of her secret tools and tips? [23:24] We’re all in the relationship business. Deena touches on what this means to her as a family enterprise advisor. [26:21] Where to get Deena’s ! [27:13] Deena shares her book recommendations as well as her one piece of advice from an advisor to other advisors. [32:25] Ruth thanks Deena for coming on the show to share her insight and wisdom with the audience. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast app. Please remember to share this episode with family, friends, and colleagues.Share your thoughts with us at [email protected]. Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Deena Chochinov Deena’s reading recommendations: , by Amanda Ripley More about Family Enterprise Canada
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39: How Family Businesses Stay Ahead
09/13/2022
39: How Family Businesses Stay Ahead
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Steve Legler speaks with Daniel Trimarchi from KPMG about the STEP Project Global Consortium and their recent report, The Regenerative Power of Family Businesses, which highlights the staying power of family enterprises and reveals the factors behind their lasting competitive advantage. Guest bio Daniel Trimarchi is the Director, Family Business Advisory Services as well as the Director of KPMG Enterprise Global Centre of Excellence for Family in Canada. He specialises in family governance and succession planning with business families of various sizes and complexities. Daniel has over 10 years of experience working in Canada, the UK, and Australia, providing consulting services, business strategy, and compliance services to the family business and family office market. You can find out more about Daniel on the . Key Takeaways [:26] Steve Legler is your host for this episode and welcomes Daniel Trimarchi and asks him to talk a little bit about the STEP project background before diving into the results of its most recent study. [5:15] Daniel shares a little bit about the true breadth of this multi-country, multi-university study. [7:01] The results were handled by KPMG so as to incorporate perspectives from the enterprising families, a secondary stage that lent depth to the results that followed. [10:06] Daniel talks about how the team derived a formula for performance output with entrepreneurship as its first factor. [13:49] The second part of the formula speaks to the importance of family control and influence; Daniel talks about the recently popularized concept of socio-emotional wealth. [15:13] Daniel breaks down the performance types and the broad set of components they can fit into. He also explains how each factor would impact each type of performance in a 2x2 matrix. [21:13] How does this all impact FEAs and advisors and how can they use the results of this study practically? Daniel talks about how the report has been used already as well as his own experience. [25:57] The report included a Canada-specific analysis; Daniel shares a little bit on the specifics of this. [28:04] Daniel shares his book recommendations as well as his one piece of advice from an advisor to other advisors. [31:30] Steve thanks Daniel for coming on the show to share his expertise with the audience. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast app. Please remember to share this episode with family, friends, and colleagues.Share your thoughts with us at [email protected]. Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . STEP report: Daniel’s reading recommendations: , by Steve Legler , by John Ward More about Family Enterprise Canada
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38: Inheritance Styles: A Road Map for the Rising Generation
08/09/2022
38: Inheritance Styles: A Road Map for the Rising Generation
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Ruth Steverlynck sits down with Robin Catlin to discuss her white paper on the topic of different styles of inheritance and how advisors can enhance their understanding of the “experience of being an inheritor”. This can help bring awareness and dialogue to a way of relating to financial wealth that is not traditionally earned. Guest bio Robin Catlin is a Managing Director at the Center for Family Wealth at Merrill Lynch where she helps families navigate the complexities of wealth over multiple generations. She is passionate about helping families thrive in the context of wealth, focusing on human capital and family culture in relation to their financial capital. You can find out more about Robin on her . Key Takeaways [:26] Ruth Steverlynck is your host for this episode and welcomes Robin Catlin and asks her to share a little bit about her background. [3:43] When it comes to wealth, there is a lot of negative talk about inheritors. Robin is the author of a whitepaper on inheritance style and she shares the impetus for writing it. [8:10] Robin shares a high-level overview of her paper before digging into the specifics. [12:13] The challenges of being an inheritor are largely ignored, Robin shares her thoughts on why that is. [15:29] Robin’s paper challenges a widely held belief among advisors; she talks about what it means for the rising generation. [19:16] The title of the paper mentions inheritance style, three of them to be specific: Inheritors, Stewards, and Sojourners. Ruth had heard of the first two, but the last one was a surprise! [26:41] Ruth brings the conversation to the five stages of wealth integration: Awakening, Confusion, Perspective, Learning, and Adaptive Integration. Robin explains what each of them entails. [29:55] Robin explains how advisors can practically use the information in the whitepaper as well as a few more key takeaways. [34:16] Robin shares her reading recommendation and advice for advisors. [37:35] Ruth thanks Robin for coming on the show and sharing her insights and tips with listeners. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast app. Please remember to share this episode with family, friends, and colleagues. Share your thoughts with us at Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . Robin’s reading recommendations: , co-authored by James E. Hughes Jr. , co-authored by the Chalmers Brothers More about Family Enterprise Canada
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37: Making Decisions in an Ever-Changing World
07/12/2022
37: Making Decisions in an Ever-Changing World
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Governance expert Matt Fullbrook speaks with host Steve Legler about the ways that family enterprises make decisions, whether informally or formally, and how there are so many ways that organizations can improve the ways that they set themselves up for success in an ever-changing world. Guest bio Matt Fullbrook is a board effectiveness researcher and consultant and is the manager of the David & Sharon Johnston Centre for Corporate Governance Innovation at the Rotman School of Management. Under his direction, the Rotman School has evolved into the central hub of governance research in Canada. As an independent consultant, Matt has advised dozens of boards of directors as an educator, facilitator, and researcher, helping them to maximize their effectiveness through the development and implementation of valuable governance processes, policies, and structures. You can find out more about Matt Fullbrook on . Key Takeaways [0:26] Steve Legler welcomes today’s guest, Matt Fullbrook — Manager of the David & Sharon Johnston Centre for Corporate Governance Innovation at the Rotman School of Management — and asks him to share a little about how the idea behind his most recent interview came about: “To Make Boards Work Better, Look to Family Enterprises?” [1:45] Matt offers up his preferred definition of governance and highlights the words he specifically didn’t use in that definition. He touches on the advantages of creative and innovative freedom family enterprises benefit from in that regard. [6:11] Counterprogramming is a tool Matt uses to give permission. He explains what this means as well as why sometimes exaggeration can work in your favor. [9:16] Matt touches on some of the challenges executives face when it comes to how decisions are made in their enterprises and it’s got more to do with our workspaces and habits than we might think. [10:41] Either new generations are more flexible or they’re being better prepared for leadership, Matt shares his thoughts on the new workforce when it comes to governance. [13:52] Matt speaks about the inclusion aspects of decision-making and the need to try many different configurations in order to optimize the inclusion of many different perspectives. [17:44] Matt’s thoughts on the Chair and their role in inclusivity as well as the natural tendencies of people pushing their agenda or needing to have information pulled from them. [20:21] Setting up boards differently presents challenges because of the natural tendency of people to look for answers and conventions. Matt shares some of the ways he circumvents those in his own advisory practice. [25:27] In cases where the client is looking for a technical “right” answer and there isn’t one, Matt offers that reframing the question might be the only solution. [27:54] Generic tools make Matt nervous! [29:40] Matt shares his advice for advisors and a book recommendation. [34:30] Steve thanks Matt for joining us and sharing his knowledge and perspective on governance. If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or other podcast apps. Please remember to share this episode with family, friends and colleagues. Share your thoughts with us at Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . Matt’s reading recommendation: , by Randall Munroe More about Family Enterprise Canada
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36: Portraits of Pioneering Women Leading Wealthy Families
06/14/2022
36: Portraits of Pioneering Women Leading Wealthy Families
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Ruth Steverlynck sits down with Amy Hart Clyne, co-author of Finding Her Voice And Creating A Legacy, to learn more about the genesis of this research and delve into the stories of these amazing women. Amongst what is shared are some key takeaways for advisors working with or seeking to work with women in family enterprises and women leading wealthy families. Guest bio Amy Hart Clyne, CFP® is Chief Knowledge & Learning Officer at Pitcairn. She has dedicated more than 30 years of her financial services career to helping prosperous families fulfill the promise and potential of their legacies and achieve wealth momentum. As an expert in private wealth management, Amy has spent her career translating the needs and desires of ultra-wealthy families and their advisors into practical insights and solutions-based experiences that educate, excite, and engage. Amy has an MBA in Marketing from Columbia Business School, Columbia University, and a BA in International Relations from Colgate University. She has earned the Certified Financial Planner™ (CFP®) designation as well as the Family Business Advisor certification from the Family Firm Institute. You can find out more about Amy Hart Clyne on her . Key Takeaways [0:26] Ruth Steverlynck welcomes today’s guest, Amy Hart Clyne — Chief Knowledge and Learning Officer with Pitcairn in New York — and asks her to share a little bit about the genesis of her latest book: Finding Her Voice And Creating A Legacy. [4:59] Amy shares the methodology she and David Jaffe used to select the women to be interviewed in the context of the book. She also talks about some surprising findings they made along the way. [6:36] Amy talks about how the title is reflective of the two most important themes distilled from the interviews with these women of wealth both in the inherited and new wealth categories. [9:47] Roles and outdated stereotypes are beginning to fade in society at large, but Amy shares how this phenomenon is strangely slower to reach families of wealth. [12:08] Widowhood is rarely talked about, but Amy’s book dedicates an entire chapter to the subject and its ramifications. She shares some specifics as well as a story that she heard from women of wealth on this quasi-taboo subject. [17:38] Amy shares two distinct stories from the book that illustrate the importance of relationship building. One woman called herself the force multiplier in a blended family and the other became the driving force in fostering unity in her family. [24:17] An entire chapter is dedicated to the role of advisors, Amy shares her perspective on how advisors can better serve women of wealth as well as some pitfalls to avoid. She also touches on what she means by legacy mindset when it comes to widowhood. [29:19] Amy shares her advice for advisors as well as her reading recommendations. [34:30] Ruth thanks Amy for joining us and sharing these nuggets from her research! If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , or any other podcast app. Please remember to share this episode with family, friends and colleagues. Share your thoughts with us at Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Amy Hart Clyne and Dennis T. Jaffe Amy’s reading recommendation: , by Adam Grant More about Family Enterprise Canada
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35: Succession Stories: Lessons Learned From Former Family Office CEOs
05/10/2022
35: Succession Stories: Lessons Learned From Former Family Office CEOs
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Ruth Steverlynck sits down with Jane Flanagan, author of a recent white paper capturing interviews with over 30 former CEOs of family offices to distil key lessons learned that are applicable across all domains of a family enterprise. Guest bio Jane Flanagan is a Senior Vice President and serves as Director of Family Office Consulting in the Global Family and Private Investment Offices Practice at Northern Trust Corporation in the U.S. She and her team serve some of the world’s most prominent families to educate them about their options and support them in finding their best way forward.Jane has been working with and learning from family leaders and family office executives for her entire career. She has interviewed hundreds of families to document best practices in areas such as family communication, strategies to engage rising generations, family office service delivery, compensation, and more. Before joining Northern Trust, Jane was a Managing Director with Family Office Exchange in Chicago for 26 years. You can find out more about Jane Flanagan on and her . Key Takeaways [0:26] Ruth Steverlynck, the host, introduces and welcomes Jane Flanagan. The subject for this episode is a Northern Trust whitepaper Jane has released, “Succession Stories: Lessons learned from former family office CEOs.” [2:11] Ruth has shared the whitepaper with a couple of family office CEOs. One said it was one of the best papers they had ever read in the family office space! Today’s episode is important for the family office community. [3:30] Jane learned from Northern Trusts’ 2020 Family Office Benchmarking Survey that nearly two-thirds of the participants said they would soon experience a succession in the family, family office, operating business, or within the trustees. Jane searched for resources to help these leaders to prepare but didn’t find anything written. [4:20] Jane reached out to former family office CEOs to see if they would share their succession stories. Everyone said, Yes! The paper is a result of the generosity of 32 former family office CEOs whom she interviewed. Most of the former CEOs Jane interviewed were non-family member professionals; a few were family member family office CEOs. [5:17] The intention of the whitepaper is to share lessons learned and advice from CEOs who had lived through a succession. Succession is a normal part of every family’s experience but it’s scary to think of life without that trusted person. Many people put off the succession conversation; this paper provides a way to start that conversation. [6:22] Ruth is struck by the usability of the whitepaper. It’s easy to read! [6:59] As Jane interviewed the former CEOs she learned that succession changes the way you see things, especially those of the next generation. One CEO may be replaced by multiple people. It’s more than talent. [9:44] How does a family manage the emotional aspect of a family office CEO succession? “Letting go” is the big challenge. A CEO needs to let go of the office and help the family let go of the CEO. The CEO must take the time to plan for what’s next for themselves, for the board, the staff, and the family. [12:54] The thing CEOs said that made the biggest difference in succession planning was being aware that the departing leader sets the tone for the entire process. CEOs need to show confidence in the team, in the family’s readiness to navigate the transition, and in the future, combined with transparent communication about the plan for the succession process. [13:44] Framing the process from the beginning, acknowledging that it can be bumpy and require a little bit of extra patience from everyone, helps manage the family’s expectations. Jane cites Life Is in the Transitions, by Bruce Feiler, which explores three phases of transitions. It’s helpful to have a transparent communication plan to think through the timing. [16:59] Jane describes how a family office relates to a family business and believes that family office succession principles apply equally to family businesses. [17:51] As an advisor, be ready to welcome the CEO successor with open arms. New leaders bring a fresh perspective and are always looking for ways to add value, especially in their first 90 days or six months. [19:03] The mandate and role of the successor CEO may be very different from those of the incumbent CEO, due to how the family and the business have grown and changed. Of the CEOs interviewed, 58% of them said at the same time there was a generational transition. Successor CEOs may need different skills. The family chooses the successor CEO. [22:08] Jane says we could study this topic for the rest of our lives and never finish! More study is needed on successor CEOs and Trustees. There is a lot of work being done now on preparing the next generation to lead. [24:10] Jane comments on the succession of knowledge, information, and relationships. The CEOs interviewed said they should have taken more time to prepare and done more to communicate with people sooner; you can never start too soon. [25:49] For additional study, Jane suggests the links page at the back of the whitepaper (see link below). One book she particularly recommends is by Bill Burnett and Dave Evans. It’s a good book for anyone from a college graduate to a transitioning CEO. [27:23] Jane’s advice from an advisor to other advisors and her two book recommendations! [30:38] Ruth thanks Jane for joining us and sharing these nuggets from her research! If you enjoyed today’s episode, you can subscribe to Let’s Talk Family Enterprise on , , or any other podcast app. Please remember to share this episode with family, friends, and colleagues.Share your thoughts with us at [email protected] Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . More about Family Enterprise Canada
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34: Family Champions and Champion Families
04/12/2022
34: Family Champions and Champion Families
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Host Steve Legler speaks with Dr. Joshua Nacht, author of Family Champions and Champion Families, about how FEAs can identify and support the champions who are part of many of their client families. These champions often have less obvious roles in the business circle but provide important leadership in the family and ownership circles, and as advisors we can become important resources to them. Guest bio Joshua Nacht, Ph.D., is a senior consultant with The Family Business Consulting Group and works with business families to help them become more intentional and organized to achieve their goals. He’s adept at working with multigenerational families to integrate their diverse perspectives and create structured plans for continuity. Joshua is the author of the book Family Champions and Champion Families: Developing Family Leaders to Sustain the Family Enterprise. The book is a follow-up to his Ph.D. dissertation on the subject, which he did under Dennis Jaffe, who was our guest on Episode 11! You can find out more about Joshua Nacht on and his . Key Takeaways [0:26] Steve Legler welcomes Joshua Nacht. The subject for this episode is family champions. Joshua took his Ph.D. dissertation and wrote it into a book. [2:05] The concept of the family champion came out of research Joshua did for Dennis Jaffe. Many people Joshua interviewed played notable leadership roles in their family enterprises without working in them. They were involved in governance and engaged in helping their family informally. [3:47] When Joshua dug deeper, he came up with the idea of a book on family champions. He created his dissertation research planning to share it as a book for a wide audience. Joshua found tangible energy around the discussion about family champions. He would like the term family champion to become part of the family enterprise vocabulary. [6:33] People leading a business don’t have the bandwidth to organize and lead the family. Joshua has met many family champions who informally organize and lead the family ownership group. Their leadership comes from their engagement and actions. The family champion role changes with the growth of the enterprise. [11:09] The family champion is not an authoritative leader. A family champion emerges as somebody steps up to fill a need. Joshua shares four catalysts of family champions. [14:02] The family champion is not always an individual. Sometimes a shared role works better. It could be a spouse pair, siblings or cousins. [15:43] The more the family champion is supported by the business leadership, the more successful they can be. Effective leadership in the family ownership group is as important as effective leadership in the business. Most family businesses run into problems because of the family, not the business. [19:25] Joshua discusses the governance forum; how the ownership council, the family and the board of directors of the business work together. The family champion supports effective governance by helping the ownership council and family to stay within their boundaries. [23:28] Governance structure may evolve as conditions change. Family champions can help create the governance structure to meet the needs of the family and the ownership council. [24:41] Joshua worked to build a family champion definition, characteristics, vocabulary and framework that can be adapted for each unique family. [26:51] Dennis Jaffe suggested that Joshua should not begin research with preconceived notions, but do research into what people are doing well in common. The things Joshua found emerged as the cornerstones of the book. [30:17] Joshua shares his book recommendation as well as a piece of advice from an advisor to other advisors. [34:06] Steve thanks listeners for taking the time to tune in and invites them to subscribe! Share your thoughts with us at Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Joshua Nacht , by Priya Parker More about Family Enterprise Canada
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33: Harnessing Conflict
03/08/2022
33: Harnessing Conflict
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts and models that best serve Family Enterprise Advisors in supporting their clients. All views, information and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Steve Legler speaks with Nicole Garton, FEA, about her recent book, Harnessing Conflict: How Family Businesses Can Survive and Thrive. They talk about the well-publicized Stronach and Rogers cases, and how and why FEAs can help their family clients get out in front of conflict while it is still manageable and use it to make their families even stronger as a result. Guest bio Nicole Garton, B.A., LL.B, LL.M., C.Med, FEA, TEP, is a lawyer, mediator and parenting coordinator of family law, wills and estates matters. In her dispute resolution practice, Nicole focuses on the restructuring of families resulting from separation and divorce and wills and estate challenges. In her solicitor’s practice, Nicole advises on all aspects of estate planning and administration, including the preparation of wills, powers of attorney, representation agreements and trusts, as well as applications for probate and letters of administration. You can find out more about Nicole Garton on the and her . Key Takeaways [0:26] Steve welcomes Nicole Gartner and asks her to share a little bit about her current research interest and the family that has been making the news rounds. [4:10] The Goldilocks spot of conflict management is real and can yield great benefits, Nicole shares how FEAs are an integral part of walking the line between destructive and productive conflict. [6:14] Nicole shares some constructive tips to help FEAs better help navigate the stages of conflict with the families they serve. [8:56] Getting family members to keep talking is key to making sure conflicts don’t fester. Nicole talks about integrative and distributive conflict and shares some governance best practices. [12:28] Getting back to basics, Nicole shares one of the more important aspects of conflict negotiation as well as how to integrate game theory into your family advisory practice to reframe the idea of failure. [16:16] The three-circle model points us in the right direction; serving the whole family system is key. [17:02] Nicole shares her experience reading through the affidavits from the Stronach family trials. [21:26] Finding resolution often passes through the idea of finding a win for everyone, Nicole shares how this relates to the Rogers dispute. [25:27] Nicole shares an entertaining piece of the Rogers litigation. [27:44] Avoiding airing your laundry in public is about doing work upfront. FEAs need to learn to recognise when conflict is brewing and what experts to call in when they do. [30:31] Rogers mediation dispute fun fact! [31:47] Nicole shares her book recommendation as well as a piece of advice from an advisor to other advisors. [34:00] Steve thanks listeners for taking time to tune in, and invites them to subscribe! Share your thoughts with us at [email protected] Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . by Nicole Garton by Roger Fisher, William L. Ury and Bruce Patton by Simon Sinek by Oliver Burkeman More about Family Enterprise Canada
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32: Who are the Guardians of Family Legacy?
02/08/2022
32: Who are the Guardians of Family Legacy?
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description In this special episode, host Steve Legler speaks with Olivier de Richoufftz, General Secretary of Family Enterprise Foundation about their latest continuity research report, Who are the Guardians of Family Legacy? Guest bio Olivier de Richoufftz With over a decade of experience with organizations supporting business families as well as growing and solidifying their networks, Olivier de Richoufftz is well-seasoned in the important issues business families face from generation to generation. An MBA from HEC Paris, paired with his extensive experience in marketing, sales, and development for organizations such as Euro Disney Resort and France Tourism, bring strategic perspective and innovation to Family Enterprise Foundation. You can find out more about Olivier de Richoufftz on the and . Key Takeaways [0:26] Steve Legler welcomes listeners to a special edition of the podcast dedicated to an overview of the results of the recent comprehensive survey completed by the Family Enterprise Foundation — Who Are The Guardians of Family Legacy? — on the landscape of Canadian family enterprises. [1:20] Steve launches the discussion by asking Olivier de Richoufftz a little bit about the Foundation’s origins. Olivier touches on why the comprehensive survey came at a very opportune time, and some of the important coming changes in Canada’s Family enterprises it revealed. [3:22] Olivier shares the impetus behind launching this most recent second part of the survey as well as some of the more interesting highlights from the results. [5:43] Aside from the family business spirit being very strong among the rising generation, Olivier touches on some of the really interesting findings from this research as it relates to the different ways the coming generation and the leading generations view the next great transition. [8:15] Ownership versus leadership is expected to be a key element of discussion as the generational shift continues over the next few years; Olivier explains why this may be. [10:07] Olivier talks about how the survey data was compiled and why the foundation chose to include generational leaders and experts to help make it an interesting reading piece. [11:54] Finding common ground is key to generational transfers, Olivier speaks to some of what the survey has to say when it comes to Canadian enterprising families. [14:22] Olivier talks about one thing they noticed stood out in the survey. He also speaks to what the future of research is pointing towards at the Family Enterprise Foundation. [17:53] Steve thanks Olivier de Richoufftz and listeners for taking time to tune in, and invites them to subscribe! Share your thoughts with us at [email protected] Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . (Part one of the comprehensive survey) More about Family Enterprise Canada
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32: Qui sont les Gardiens de l’Héritage Familial?
02/08/2022
32: Qui sont les Gardiens de l’Héritage Familial?
Description Dans cet épisode hors du commun, votre hôte Steve Legler discute avec Olivier de Richoufftz, secrétaire général de la Fondation des Familles Entrepreneuriales, au sujet des suites de leur plus récente recherche: Qui sont les Gardiens de l’Héritage Familial? Bio Olivier de Richoufftz compte plus d'une décennie d’expérience auprès d’organisations soutenant les familles d’affaires ainsi que dans la croissance et la consolidation de leurs réseaux. Sa connaissance des enjeux importants auxquels les familles d’affaires sont confrontées de génération en génération se combine à un MBA d’HEC Paris et à sa vaste expérience en marketing, vente et développement. Il a travaillé pour des organisations telles qu’Euro Disney Resort et France Tourisme, et ainsi apporte une perspective stratégique et innovante à la Fondation des Familles Entrepreneuriales. Pour plus d’informations au sujet d’Olivier de Richoufftz, visitez le et . Notes [0:26] Steve Legler vous accueille à une édition spéciale du balado! Olivier de Richoufftz, secrétaire général de la Fondation des Familles Entrepreneuriales se joint à Steve pour discuter des résultats de leur sondage compréhensif sur les entreprises familiales canadiennes. [1:25] Olivier offre un bref survol de l’historique de la fondation et les ramifications positives d’être aujourd’hui chapeauté par Family Enterprise Canada. [3:20] L’objectif d’une telle étude est simple, les transitions intergénérationnelles vont s’accélérer au courant de la prochaine décennie. Olivier explique certaines des visées plus précises de ce sondage incluant les questions liées aux impacts de la COVID sur les intentions de départ. [5:29] La première partie de cette enquête a été publiée en octobre dernier et a soulevé quelques inquiétudes face aux transitions à venir. Olivier explique certaines d’entre elles ainsi que de quelle manière la seconde partie de cette étude y répond. [7:01] « Qui Seront les Gardiens de l’Héritage Familial ? » est un titre provocateur, Olivier parle de ce choix et de la façon dont la génération montante entrevoit son futur à la barre. [9:13] Olivier parle plus en détail de certains besoins qui ont été exprimés par les générations montantes et sortantes entre autres à en ce qui à trait à la fierté et à la confiance. [12:17] Les résultats ont été validés par la communauté via la firme KPMG, Olivier explique ce choix ainsi que la nature à la fois quantitative et qualitative de cette recherche et de la posture unique que ces données qualitatives ont permi de faire ressortir chez les participants. [16:08] Il n’est jamais trop tôt, ou trop tard, pour nourrir des discussions sur la succession! Olivier explique l’impact que peut avoir la relation intergénérationnelle sur le bien commun familial. [18:18] Olivier partage les aspirations futures de la fondation en ce qui à trait au suivi dans le cadre de cette recherche. [19:29] Steve remercie Olivier ainsi que l’auditoire et invite tout un chacun à s’abonner à ce balado pour ne rien manquer des épisodes futurs. Partagez vos idées avec nous au [email protected] Mentionné durant l’épisode Le balado Let’s Talk Family Enterprise est présenté par . (Première partie du sondage compréhensif) Family Enterprise Canada
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31: The Interdisciplinary Approach
02/08/2022
31: The Interdisciplinary Approach
Introduction Welcome to Let’s Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients. All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada. Description Ruth Steverlynck sits down with Christian Stewart, Founder and Principal of Family Legacy Asia, and 2021 recipient of the Family Firm Institute's Interdisciplinary Award, to discuss the characteristics and merits of working in collaborative advisory teams. Guest bio Christian Stewart founded Family Legacy Asia in July 2008 to help Asian families preserve their family wealth for generations by providing them with independent and objective advice on effective family governance practices. Christian works with enterprising families as a process consultant, coach, and family meeting facilitator. He helps families to form their own family council, family constitution, and family policies, often in the context of planning for succession. Christian also advises a small number of families on family learning & development and acts as a chief learning officer. You can find out more about Christian Stewart on the and . Key Takeaways [:26] Ruth Stevelynck welcomes Christian Stewart, Founder of Family Legacy Asia, and asks him to talk a little bit about his career trajectory and what brought him to family enterprise advising. [8:17] Christian was honored with the Family Firm Institute Interdisciplinary Award for 2021, he touches on what interdisciplinarity truly is as opposed to multidisciplinarity. [12:19] Working with advisory teams is a part of what Christian does; he delves a little deeper into the three different aspects of interdisciplinarity when it comes to actually advising clients. [18:14] External resources are an integral part of how an interdisciplinary team optimally functions, Christian shares an example of how this can manifest. [20:25] Christian shares his thoughts and tips on how to best build a collaborative team when one is the newest addition to a team. [26:45] Fostering team cohesiveness requires intentionality, Christian shares his expertise and best practices around building collaboration. [29:00] Family enterprises that don’t have a cohesive, intentional approach — i.e. siloed approaches — face some risks, Christian explains how and shares a few examples. [35:44] Christian shares his one piece of advice as an advisor for other advisors as well as his book recommendations. [43:26] Ruth thanks listeners for taking time to tune in, and invites them to subscribe! Share your thoughts with us at [email protected] Mentioned in this episode The Let’s Talk Family Enterprise podcast is brought to you by . , by Nancy Kline , by M. Scott Peck, M.D. , by Thomas Hübl More about Family Enterprise Canada
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