Empowering Younger Generations, Design Flaws in Family Office, and Why European Families Are So Successful at Preserving Wealth

The rising generation today is different. The idea that you have to earn credibility over decades doesn't make as much sense as it did in the past.

Join us as we explore how Greg McCann, founder and board member at Generation6, and Jesus Casado, one of the advisors at Generation6, work to empower the younger generations and help families adjust to challenges. They discuss the design flaws in existing family offices, solutions for improvement, and the European families' ability to remain unified and prosperous for hundreds of years through their key characteristics such as family cohesion, financial benefits, emotional connection to business endeavors, and being proud stewards of their wealth. 

Tune in now to learn more!

[00:01 - 07:05] Opening Segment

• Introducing Greg and Jesus to the show
• Greg is a founder and board member of Generation Six, a family enterprise consulting firm
• Jesus is an advisor of Generation Six, focusing on succession issues and governance
• Generation Six has an innovative approach to family business consulting with a holistic approach
• Generation Six helps families through leadership transition by developing leadership and helping with the handoff

[07:06 - 14:05] Uncovering the Design Flaws and Hidden Assumptions of Family Offices

• Profit is necessary for life, but not a good reason for living
• Lack of purpose and ownership are design flaws in family offices
• Private equity is becoming more widespread in Europe, but families still prefer long-term investments

[14:06 - 22:32] The Gathering: Discussions about Family Offices

• Greg shares what The Gathering is and how it was written
• The book was meant to be provocative and not a template
• Wealthy people do not think of themselves as rich and would be better

[22:33 - 30:27] Family Cohesion, Financial Benefits, Business Emotional Pride, and Stewardship of Wealth

• Europeans tend not to show wealth and have a negative perception of it compared to the US
• The rising generation needs to create their own space for self-identification and be perceived as credible in some field
• Families need four types of cohesion (family, financial, business & emotional) to survive over time

[30:28 - 32:03] Closing Segment

• Connect with Greg and Jesus through the links below
• Greg and Jesus' daily practice
• Final words

Quotes:

"If the human capital is being sacrificed at the cost of financial capital, nobody wins." - Greg McCann

“It's not up to the senior generation to be the drivers of change. Transformation, and especially digital transformation, should be led by the next generation." - Jesus Casado

Connect with Greg and Jesus!

Website: www.Generation6.com 

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

Connect with me on LinkedIn!

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