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 SegmentIntroducing Greg and Jesus to the showGreg is a founder and board member of Generation Six, a family enterprise consulting firmJesus is an advisor of Generation Six, focusing on succession issues and governanceGeneration Six has an innovative approach to family business consulting with a holistic approachGeneration 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 OfficesProfit is necessary for life, but not a good reason for livingLack of purpose and ownership are design flaws in family officesPrivate equity is becoming more widespread in Europe, but families still prefer long-term investments[14:06 - 22:32] The Gathering: Discussions about Family OfficesGreg shares what The Gathering is and how it was writtenThe book was meant to be provocative and not a templateWealthy 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 WealthEuropeans tend not to show wealth and have a negative perception of it compared to the USThe rising generation needs to create their own space for self-identification and be perceived as credible in some fieldFamilies need four types of cohesion (family, financial, business & emotional) to survive over time[30:28 - 32:03] Closing SegmentConnect with Greg and Jesus through the links belowGreg and Jesus' daily practiceFinal wordsQuotes:"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 CasadoConnect 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!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.