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This teleconference was based on a Special Edition of the Family Business Wiki Newsletter edited by Dennis Jaffe
Teleconference Participants: Josh Cohen, Mary Gust, Robin Hays-Haun, Dennis Jaffe, Pascal Levensohn and Ricci Victorio
Moderator: Donald Levitt

Recording of the teleconference


Part One (16:02)
Hays-Haun, Jaffe, Roux, Victorio
  • The challenges in becoming a trusted advisor to high net worth families
  • Conflict of interest in one's value proposition
  • Addressing transformational versus transactional issues
  • Families wanting to proceed too quickly
  • Families staying connected to achieve bargaining power and economies of scale



Part Two (16:40)
Gust, Jaffe, Levensohn, Roux, Victorio
  • Helping families to stay together: family councils; identifying shared passions
  • Managing risks due to: lack of governance; not understanding roles
  • Building trust by educating and "putting out the fires"
  • Creating safety for the founder/leader/gatekeeper
  • Risks to longterm service providers when the next generation assumes leadership



Part Three (17:10)
Gust, Jaffe, Roux, Victorio
  • Connecting with the next generation
  • Insurance professional as advisor rather than vendor
  • Developing the next generation
  • First generation, second generation, and third generation each require different governance
  • Transformational versus transactional issues
  • Professionals from different disciplines each addressing similar transformational issues



Categories: Teleconferences