Navigating Generational Transition in Family Offices with Mindy Kalinowski and Hannah Shue

Have you ever wondered how to build trust and inclusivity among family members in a family office? 

In today's episode, Mindy Kalinowski and Hannah Shue discuss the challenges of transitioning leadership to the next generation in family businesses and share their personal experiences of building trust with family members. They highlight the importance of intentional investment in identifying oneself outside the business and dive into multi-generational wealth management. They explain how inclusivity and ownership drive change and stress the importance of asking powerful questions to ensure a smooth leadership transition. Let’s dive in!

Mindy Kalinowski Earley is Chief Learning Officer for Family Office Exchange. In her role, she fosters integrated learning programs for enterprise families and is responsible for developing the family learning community. 

Hannah June Shue is a lifelong learner, connector, and encourager. She is a third-generation leader in several of her family’s business ventures. She leverages this first-hand experience and expertise to coach and consult with other prominent families and emerging generations.

[00:01 - 07:09] Opening Segment

• Fox provides resources for families to navigate transitions and develop their people

• 45 million US households will transfer $68 trillion in wealth over the next 25 years

• What rising gen challenges include

• Hannah's personal experience as a third-generation leader in her family's business ventures

[07:10 - 14:19] Navigating Family Business Leadership Transitions

• Next generation needs to know who they are before stepping into a leadership position

• Transparency, clarity, and shared vision are critical for successful family governance structures

• Willingness and openness from G2 to put in the work is crucial for success

• Bringing in key advisors and building trust over time is important

[14:20 - 20:59] Generational Differences in Family Businesses and Financial Families

• The challenges of multiple generations working together in a family business or financial family

• The importance of asking powerful questions and having open communication

• Why the idea of a collective family rather than separate branches or generations is suggested

• Inclusion and ownership within the family are crucial for pushing through changes

[21:00 - 28:15] The Complexities of Family Wealth

• Having a business can provide shared learning opportunities and decision-making experiences

• Hannah discusses leveraging family investments for learning opportunities

• Her journey of balancing individual identity with family ties

• Mindy emphasizes the importance of personal development and leadership in rising gen programs

[28:16 - 34:41] Closing Segment

• Autonomy and belonging are both critical for the next gens in family systems

• Some next gens are opting out of family enterprises

Want to connect with Mindy? Head to Public Office to create an environment where family office executives can meet and connect to share experiences!

Key Quotes:

“You can have the most wonderful structures and policies and constitutions that look really good and feel really good. But if you aren't living it out if you aren't developing your people, It's not going to work. ” - Mindy Kalinowski

"The more you have clarity about what you're going to do together and what your shared vision is, it makes everything a little bit easier." - Hannah Shue

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

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