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Family Business Wealth Management Blog

Becoming Truly Innovative: A Family Value

For a firm to become truly innovative, Gary Hamel and Nancy Tennant suggest in their recent Harvard Business Review article all employees should be taught to think like innovators. In this view, explained in a previous blog, innovation is not the exclusive purview of a few creative geniuses, but st[...]

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Competition and Cooperation: Balancing Family and Firm Models in Family Businesses

Families and business ownership can intersect in fascinatingly complex ways. How family and business leaders think about family dynamics and corporate objectives may influence decisions more than what they think about. In short, the mental model of this crucial intersection matters. Research around [...]

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How To Give Away A One Billion Dollar Jackpot: A Generational Wealth Case Study

So let’s say you win the big jackpot. The odds are only 1 in 292,201,338, but let’s say you win one billion dollars. Maybe you keep enough to pay off the house and buy a new car, but for our case study you decide everything else goes to charity. Perhaps, you watched Born Rich, Jamie Johnson’s [...]

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Fear The Beard: Exploring the Concept of Innovation through Basketball and Science

A quick flick of his hands, the pass is batted away, bouncing free toward the half court line. He darts after it with surprising speed for his size. As he dribbles toward his basket, a single defender has quickly retreated to block his path. In the blink of an eye, he gathers the ball while taking a[...]

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The Next Generation In Philanthropy: From the Rockefeller Foundation to the Zuckerberg Chan Initiative

When $45 billion dollars is pledged to charity, it’s bound to start a lot of conversations. Facebook founder Mark Zuckerberg and his wife Dr. Priscilla Chan recently shared  they intend to move 99% of their Facebook shares into a Limited Liability Company (LLC) for charitable purposes. Justifiabl[...]

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Leadership Takes Many Forms

The holidays present many opportunities for us to reconnect with family, as well as contemplate the possibilities for generosity within our community. As we gather with our families, firms, and communities, we are at times called upon for leadership. We may lead by providing guidance, expertise or i[...]

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The Class of 2014 and Next Generation Leadership

A recent study finds entrepreneurial parents are more likely to have entrepreneurial children, a finding which seems to fit the general perception of entrepreneurship. Past academic studies suggest it may be as much as 300% percent more likely for a child of an entrepreneur to become an entrepreneur[...]

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Be Always Kind and True: Lessons from One Hundred Years of the Welch Allyn Company

When I first met Eric Allyn I was impressed by how approachable and friendly he seemed. He had an easy smile. He seemed genuinely interested in the conversation we were having at 7:30 in the morning in Sheboygan, Wisconsin. Eric is one of those people that you are comfortable with in conversation fr[...]

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Founding the Company and Other Important Stories

One of the attributes of successful families in business is the sense of unity between family members. The willingness to sacrifice for one another to achieve a greater good often grows from a lifetime of sharing ideas, obstacles, and dreams. Often there is a family story, a sense of identity they s[...]

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There Shall Be No Coronation

There Shall Be No Coronation: Thoughts on Company Leadership Transitions Succession planning in any firm should be predicated on a thoughtful and transparent process and most successful transitions involve participants that are not only informed, but passionately engaged. Family-owned businesses [...]

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