Dave Specht

In this discussion, Dave Specht, a Senior Fellow at the Drucker School Global Family Business Institute, sheds light on the intricate dynamics of family businesses. He emphasizes the necessity of empathy and open communication during wealth transfers. The conversation highlights how the rising generation must carve their own identities amidst family expectations. Additionally, they explore the evolving financial advisory landscape, advocating for services tailored to the values of younger clients, and the importance of storytelling in bridging generational gaps.

This week, Dave Specht, an expert on family businesses and author of "The Family Business Whisperer," shares insightful perspectives on wealth and continuity. He discusses how upbringing shapes financial attitudes and the importance of cultivating an ownership mentality in future generations. Specht emphasizes the role of spouses in family dynamics and the need for transparency in decision-making. He also redefines wealth to include well-being and the value of nurturing gratitude and grit in children from affluent backgrounds.