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Next-Generation Family Education

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Successful families strive to increase their human capital—a combination of the collective intellectual, social and financial capital that makes each family unique. Growing human capital, without sacrificing a family’s humanity, is central to our mission.

In order to sustain family wealth and pass through the “Generation 3” hurdle, families have to identify what the next generations must know and experience in order to deal with the complex lives that they will live. Often, families feel challenged to identify methods to prepare next generation family members to lead and to make decisions. In addition, preparing the next generation to responsibly appreciate and appropriately steward their wealth is at the core of our service offering. We work with families to facilitate productive discussions about philanthropy, values and wealth, and develop customized programs to address specific educational issues that demand attention in each unique family setting.


Position Open: Chief Collaboration Officer (CCO)

This article by Fran Lotery explores what the present and future enterprising family needs: a modern-day approach from their advisors that is less expert driven and more multi-disciplinary—advisors who can shift their mindset to execute team-based behavior that is both collaborative and cooperative. Read the Article >>

Leadership Development: Learning to Take Charge

There comes a time in a family business when control has to be passed down to the next generation. But how do you prepare them to lead? Fran Lotery and Dennis Jaffe explore how families can help their offspring in this regard. Read the Article >>

A Development Plan for the Next Generation

In the January 2012 edition of Family Business Magazine, Relative Solutions principal Fran Lotery details critical questions that emerge as family enterprises anticipate a future generational transition, including:

  • What does the next generation need to be prepared for?

  • How big is this challenge, and how will it be met?

  • What is the priority? Is it to develop the human capital of the family or future leaders, or a combination of both?

Read the Article >>

Case Studies

Managing Succession Across Generations

Two brothers disagreed about the roles their children should play in their 25-year old company. One of the brother’s sons joined the company five years ago and wanted an executive promotion. The other brother thought it was too early to promote him because he showed no signs of executive ability. There were no rules for family participation in the business and no plans for how to include the next generation. Read the Case Study >>

educating next-generation shareholders

A second-generation family firm was concerned that next generation shareholders and family members understand both the operating and non-operating divisions of the family enterprise. Read the Case Study>>