There’s one factor that is an undercurrent in all the debate around generational differences. That factor is money. An individual’s attitudes toward money shade their other perspectives, motivations, values, ethics, work ethic, actions, and interactions. The most significant financial transactions for a business owner are when they invest in a business and then when they harvest the business. Hopefully, the harvest is fruitful so stakes are even larger. Their underlying attitudes about money directly impact the transaction – from the acceptable pricing to the financing and its structure. If the sale of the business is an internal transition (or the buyer is a younger entrepreneur), the monetary attitudes of the next generation play a significant role in the negotiation and success of the deal. These dynamics can be hard on everyone – the owner, other shareholders, family members (in and out of the business) and coworkers. For the advisor, the dynamics can be a minefield. Join us to learn how to spot and successfully navigate this minefield.
Attendees will achieve the following learning objectives:
- Understand the different attitudes about money across the generational line
- Discover the common conflicts that emerge surrounding money in business transitions
- Learn skills to navigate and counsel clients through these conflicts
About the Speaker:
Meet Emily Bouchard, MSSW Managing Partner, Wealth Legacy Group, and esteemed CEPA Faculty Member. Emily Bouchard is the “family transitions” faculty member of the Exit Planning Institute. She works collaboratively with families and their advisors to support family members through some of the most challenging decisions and life events they will ever face. She presents, facilitates, and coaches women, couples, families, and groups on addressing the emotional issues related to life’s transitions. Since 2003, Emily has been considered a leading expert in the field of blended family dynamics. She has been featured in popular media, including The Today Show, CNN, WSJ, Bloomberg Businessweek and The New York Times. Emily co-authored, with L. Paul Hood Jr., Estate Planning for the Blended Family.