Wingspan Legacy Partners

~ FAMILY ENTERPRISE INSIGHTS BELOW ~    In this month’s edition of Wingspan Perspectives, we share two brand-new Insights on the topic of succession in family businesses from team members Kara Perusse and Abby Patrick. Plus, see Christina Wing’s recent media appearances talking about family offices, and details on our exclusive Rising Gen membership program, Wingspan Forum. Don’t forget to subscribe for monthly insights!    #WingspanPerspectives #FamilyBusiness #FamilyOffice #WingspanForum #RisingGen 

Today, we honor the life and legacy of the Reverend Dr. Martin Luther King, Jr. He stood for equality and compassion in the face of enormous resistance, demonstrating his commitment to making the world a better place.    Dr. King’s words resonate with us, reminding us of the responsibilities we carry in our families and businesses, and what we owe to our communities. As we strive to build legacies rooted in service, leadership, and shared purpose, our pledge is to let Dr. King’s words inspire us to approach this year with compassion and an ongoing commitment to make a difference.    #MLKDay #FamilyEnterprises #FamilyValues #LegacyThroughService 

How do you prepare the Rising Gen to take over a family enterprise?    Our experience tells us that, while teaching younger family members about the business through conversation and demonstration is a good start, they need to have firsthand experience to truly be set up for success. Allowing them to actively engage is the best way to provide them with the tools they need to preserve the family enterprise and take it to the next level. When the Rising Gen is involved from an early age, they’ll be in the best possible position to become responsible stewards of the company you’ve built.    In other words, hands-on learning is the key to creating a legacy that will outlive your leadership and remain in place for years to come.    #Succession #RisingGen #FamilyEnterprise #FamilyBusiness #FamilyLegacy 

Is your family avoiding difficult conversations around succession? It’s a frequent problem in family enterprises; change can be scary and uncomfortable for everyone involved. That’s why we recommend planning for succession before it becomes a source of conflict.    A Wingspan Insights article titled “The Time Is Now to Talk about Succession” explains why families might avoid the topic and how they can overcome obstacles to create a holistic succession plan that will serve the family’s business interests and legacy.    It can be difficult to let go of the reins or to take hold of them for the first time. It’s essential to take these steps to ensure that your family is prepared for succession whenever it happens: - Account for family dynamics  - Create family employment policies  - Define your vision  - Be transparent and honest    These things allow for an open discussion about succession where everyone is heard and where the family’s fiscal interests and legacy can endure long into the future.    https://lnkd.in/eVjSMGdW   #SuccessionPlanning #FamilyLegacy #FamilyEnterprise #FamilyBusiness #FamilyOffice #RisingGen 

Wingspan founder Christina Wing was featured in a new Family Capital Publishing piece from Mike Foster. The article explores how family offices are a significant part of what’s driving the rise in mergers and acquisitions. Christina offered her insight into the correlation between the growth of family offices and rising M&A deal flow:    - There’s a natural surge in M&A thanks to “the dramatic growth in the number of family offices globally,” which is expected to reach 10,000 by 2030.  - Family offices may appeal to sellers because they’re more flexible than private equity and VC investors with their “willingness to take a long view and readiness to accept more realistic margins.”  - Many family offices are targeting private markets as a method of building a family dynasty by acquiring companies that support the family’s mission.    In the first half of 2024, family offices had more than doubled the percentage of flows invested in direct corporate deals. As the Rising Gen steps into leadership, they’re taking the opportunity to invest family capital in businesses that align with their values.    https://lnkd.in/eVQYSFcR   #FamilyDynasty #FamilyOffice #FamilyCapital #FamilyLegacy #M&A #RisingGen 

~ Do You Feel Ready to Lead Your Family Enterprise? ~    Empowerment and leadership go hand in hand. Without the right support, Rising Gen family members may find empowerment to be elusive – and they may struggle to step into leadership as Now Gen family members hand down the reins.    Wingspan Forum is our premier membership community for the Rising Gen. Family business authorities including our Founder Christina Wing, Partner Maryann Bell, and others will be engaged with Forum members throughout 2025, providing education, mentorship, and inspiration.     If you’re ready to claim your power and step into leadership in your family enterprise, there’s still time to join us in Miami in April. Click the link below to learn more.    https://lnkd.in/eZ-cNiBX    #RisingGen #WingspanForum #LearnConnectGrow #FamilyEnterprise #FamilyBusiness 

Relinquishing power is often difficult, but every family enterprise must prepare for the day when current leaders step down to make way for the Rising Generation. Without proper planning, the business may struggle and eventually languish if there’s no succession plan in place. A strong framework of corporate governance is crucial to creating a legacy that endures. That means sharing knowledge and experiences with younger family members to help them combine their ideas and innovations with the earned insights of seasoned leaders. It’s through the combination of experience and enthusiasm that family businesses can maintain their greatness and reach new heights going into the future. #RisingGen #Succession #CorporateGovernance #FamilyEnterprise #FamilyLegacy 

Conversations around succession can be challenging and emotional, and many families avoid them altogether. It’s a complex topic, especially when you consider that most family enterprises don’t need one succession plan; they need several.    Wingspan partner Maryann Bell covered this topic in a Wingspan Insight titled “Your Family Needs More than One Succession Plan.” While it’s certainly essential to have a leadership succession plan for the family enterprise, succession plans should also include the following.    - Management vs. ownership succession  - Emergency succession  - Family office/board succession  - Succession plan to avoid leadership entrenchment    Family enterprises that survive the test of time do so because they think ahead. If your family business doesn’t have the right succession plans in place, it’s time to stop avoiding those conversations and build a framework that aligns with the legacy you want to leave.    https://lnkd.in/eHRXmbrS   #Succession #FamilyEnterprise #FamilyBusiness #FamilyOffice #FamilyLegacy 

New year, new trends for family offices! These are some areas we’re focusing on for the families we advise in 2025. 

The start of a new year is a time to celebrate new beginnings. Many people commit to a new year’s resolution with the goal of bettering themselves, while others may choose to simply enjoy the refreshing feeling of a new calendar year. Whether you celebrate in January or another time of the year, we at Wingspan wish you a day filled with excitement for what’s to come during this season of your life. Cheers! #HappyNewYear #2025 #WingspanLegacyPartners #Family