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The month-long FFI Practitioner series of pieces relating to the theme of “Reflections” continues this week with an article by the co-chair of FFI Practitioner editorial committee, Jamie Weiner. In this article, Jamie reflects on his own experience growing up with a father who was a “giant” in his community and explores the importance of creating rites of passage for next gen family business members to create their own identity and find their voice when succeeding a parent who is a “giant.”

This week’s article examines two sides of one issue – competency. Thanks to Patricia Annino for sharing her analysis of the challenges presented by either sustained or diminished competence in an older family founder and for providing practical steps to help family plan for these challenges.

Succession Planning in the Palliative Care Unit John Geddes Succession planning is often delayed or avoided due a number of reasons. And while the details may differ client to client, failure in this area is a phenomenon common to many family enterprises. The following story details a difficult and complicated situation for one of my clients. Bill, aged 68, had an 80% majority ownership in a third-generation glass cutting and installation business in the Mid-West US, which I’ll call “OM Glaziers”--“OM” for short. The company cut and installed glass shower stalls for condo

Guest Blogger: Andrew Keyt When preparing families for business succession planning,advisors often mistakenly narrow their focus to the single individual they deem most capable of running the business upon a CEO’s retirement. But to truly make sure families preserve their core values while maintaining strong corporate governance and sound strategic planning, advisors should make it their business togroom all next-generational family members for unique leadership positions. Since I began working with successors in 1997, I’ve seen first-hand how so many NextGen family members are ill-prepared to assume leadership roles. But this situation can be avoided

Unless the Kardashian family is one of your clients (and The Practitioner sincerely hopes this isn’t the case), families you serve probably don’t have camera crews following them around 24/7, video-documenting their every move. Don’t worry--I’m not suggesting you set up your clients with reality show deals of their own. But I AM recommending you carefully listen to the sage words preached by Judith Kolva--author of this week’s companion article on encouraging clients to chronicle family histories by interviewing family members about generations past. We’re not talking about doing a cursory, slapdash job, here. We’re talking