The complexities of passing on a legacy and managing family dynamics can be overwhelming, especially for first-generation business owners.
As their advisor, how can you help prepare their heirs and transition wealth smoothly?
Find out as Duncan MacPherson speaks with Tom Deans, Ph.D., intergenerational wealth expert, speaker, and best-selling author of “Every Family’s Business” and “Willing Wisdom.” They explore how advisors can improve client retention and referrals by addressing one of the biggest unmet needs of self-made first-generation business owners and professionals — continuity and succession planning.
They discuss:
- Major challenges faced by business owners during succession planning
- How advisors can set the stage for successful wealth transfer
- Why multi-generational family meetings (with the advisor present) can be incredibly powerful and revealing
- Strategies for addressing complex family dynamics
- A sneak peek into Tom’s upcoming book: The Happy Inheritor
- And more
Resources:
- “Every Family’s Business” by Tom Deans, Ph.D.
- “Willing Wisdom” by Tom Deans, Ph.D.
- How To Fulfill Your Clients’ Deepest Estate Planning Needs with Julia Norman and Tom Deans, Ph.D. (Ep. 20)
- “The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It” by Michael E. Gerber
- “The Power Point” by Michael E. Gerber
- “Entitlemania: How Not to Spoil Your Kids, and What to Do If You Have” by Richard Watts
- “The Millionaire Next Door: The Surprising Secrets of America’s Wealthy” by Thomas Stanley and William Danko
- “Into Thin Air: A Personal Account of the Mt. Everest Disaster” by Jon Krakauer
Connect With Duncan:
- Pareto Systems
- 1.866.593.8020
- Schedule a Call
- Duncan on LinkedIn
Connect With Tom:
Promotions:
- The Blue Square Toolkit™ by Pareto (Start your 14-day free trial today!)
- ProudMouth – Be Your Own Loud
About Our Guest:
Tom Deans, Ph.D.’s research and thought leadership on the subjects of wealth transfers, preparing heirs, and family dynamics have made him an in-demand speaker and webinar presenter. He is the author of the best-selling family business book of all time, Every Family’s Business: 12 Common Sense Questions to Protect Your Wealth, listed by the New York Times as one of the top ten books business owners should read. His second book, Willing Wisdom: 7 Questions Successful Families Ask, offers a creative process to bring transparency to a family’s estate plan. More than two million copies of his books are in circulation.
Dr. Deans gives more than 100 speeches a year on the subject of intergenerational wealth transfers, preparing heirs, and business succession planning. Over the past 17 years, he has delivered more than 2,000 keynote speeches in 28 countries on four continents. He has also provided advanced training to advisors employed by the world’s largest financial institutions, law firms, and accounting firms.
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