Talking Billions with Bogumil Baranowski

Transition - Navigating Family Wealth with David Werdiger

11 snips
May 7, 2025
David Werdiger, director at Nathanson Pearson and author of 'Transition', shares his insights on navigating family wealth. He reflects on joining the family business, influenced by his family's immigrant journey. Werdiger discusses the historic wealth transfer from baby boomers and the evolving need for family governance. He emphasizes the importance of teaching responsible ownership and the shift from individual decision-makers to collaborative family dynamics. This engaging conversation sheds light on the complexities of legacy, identity, and the future of wealth.
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ANECDOTE

Family's Immigrant Business Journey

  • David Werdiger's family story includes Holocaust survival and immigrant entrepreneurship in Australia's textile manufacturing.
  • The family transitioned from manufacturing to property investment as a wealth preservation strategy.
INSIGHT

The Unique Great Wealth Transfer

  • The 20th century baby boomer generation created immense wealth now transferring across longer lifespans.
  • Wealth transfer timing and size differ today due to increased life expectancy and multi-generational families alive simultaneously.
INSIGHT

Power Transfer With Wealth

  • Wealth transfer is also a shift of power within families, complicated by trust and responsibility.
  • Teaching future inheritors responsible ownership and collective decision making is vital for family governance.
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