Xylogenesis® | Family Office Advisory

As Ralph Waldo Emerson said: “Life is a succession of lessons which must be lived to be understood. All is riddle, and the key to a riddle is another riddle.” Nowadays, succession conversions and related issues are often proving to be a riddle for enterprising families, particularly within family offices which have dynastic intent.  With individuals living and working longer, and with multiple generations participating in and being supported by the family office, it is becoming increasingly frequent to find three or more generations concurrently active in the family office. The question is, is this a dilemma or an opportunity? In my latest co-authored article for Crain Currency, we explore the ramifications of a multi-generational phenomenon, in which the leading generation (G1) is passing over their next-gen (G2) children for their next-next-gen (G3) grandchildren. This trend raises questions about family values, governance, and sustainability in the face of complex generational interplay. Key insights from the article include: • The "Sandwich Effect": Why family offices are increasingly balancing the needs and expectations of G1, G2, and G3 simultaneously—and how this can impact succession strategies. • Opportunities in Generational Overlap: How overlapping generations create room for mentorship, collaboration, and the intergenerational transfer of knowledge and values. • Reframing Succession Conversations: Strategies to navigate the challenges of bypassing G2 and embracing G3, without compromising family harmony or operational goals. If you’re curious about how this generational shift could shape the future of your family office, I invite you to read the full article here: https://lnkd.in/ebGwmidk At Xylogenesis® | Family Office Advisory we are focused on creating a family office ecosystem based on three objectives: (1) durable family harmony, (2) financial prosperity, and (3) operational excellence. You’ll find that Xylogenesis® offers a totally different and novel perspective and approach; one that can only be understood through actual experience, and by owning, working in, or leading family offices – for which Xylogenesis® and its team are uniquely qualified. Visit our website to learn more about everything we have to offer and to schedule an appointment. We look forward to hearing from you! https://lnkd.in/gcCHMwKV #FamilyOffice #Governance #FamilyBusiness #FamilyEnterprise

Navigating family dynamics isn’t always straightforward. Too often, nepotism is seen as a weakness or obstacle, but when handled thoughtfully, it can serve as a powerful tool for growth and cohesion – even a competitive advantage! In this latest episode of PI Power Hour by the Activate Human Capital Group, I join Melissa Yerxa Ortiz -- Talent Optimization Expert and Family Business Strategist Sara B. Stern to explore a reimagined view of nepotism and its impact on family-owned enterprises. Together, we tackle some common concerns and uncover ways to make these dynamics work for the family and the broader team. I also expand on my experience with the EOS - Entrepreneurial Operating System and specifically the GWC (Get It, Want It, Capacity to Perform) tool that can help family business members to clarify and magnify their roles within the organization. This also helps identify if the "right person” is in the “right seat" within the enterprise. Key takeaways include: 1. Understanding the true potential of family ties: Nepotism, when structured well, can bring invaluable stability and legacy to a business. We discuss strategies to ensure it’s a source of strength and advantage, not division and weakness. 2. Balancing family and non-family team dynamics: Developing mutual respect and clear boundaries and agreed-upon rules among family and non-family team members is key to a healthy work culture. 3. Creating intentional roles and governance: Practical governance structures can help ensure that family and non-family members alike are aligned and feel valued, engaged, and focused on shared goals. This episode is a must-watch for anyone involved in family businesses or family offices. We dive into the practical steps and mindset shifts that can help families leverage their unique bonds to benefit both their business and legacy. If you’re curious about how family dynamics can transform a company’s future, I invite you to watch this podcast now to gain valuable insights, strategies, and real-world advice: https://lnkd.in/gxSFfR_8 Xylogenesis® | Family Office Advisory we are focused on creating a family office ecosystem based on three objectives: (1) durable family harmony, (2) financial prosperity, and (3) operational excellence. You’ll find that Xylogenesis® offers a totally different and novel perspective and approach; one that can only be understood through actual experience, and by owning, working in, or leading family offices – for which Xylogenesis® and its team are uniquely qualified. Visit our website to learn more about everything we have to offer and to schedule an appointment. We look forward to hearing from you! https://lnkd.in/gcCHMwKV #FamilyOffice #Governance #FamilyBusiness #FamilyEnterprise

When it comes to multigenerational family enterprises, the path to success isn’t always traditional. As families navigate the challenges of transitioning wealth and leadership to the next generation, creative thinking and innovative strategies can often make all the difference. For decades, experts have planted seeds of doubt, fear, anxiety, and skepticism into the minds and souls of some of the greatest family entrepreneurs, family business builders, and family enterprise/office leaders. In fact, Warren Buffett famously said, “People will always try to stop you from doing the right thing if it is unconventional.” Many of these fear-based, authoritative “experts” never built or owned a family enterprise, never scaled a business or series of businesses, never risked their homes and assets to personally guarantee and secure bank debt/capital. In my recent Family Wealth Report article, I explore how three unique family enterprises have embraced non-traditional approaches to ensure success for the next generation. These real-world examples highlight the power of thinking outside the box when it comes to leadership transitions, wealth management, and maintaining family legacy. Key takeaways include: 1. Starting inside the family enterprise can offer unexpected benefits: While traditional wisdom suggests external experience before joining the family business, working inside first can provide first-hand insight, foster maturity, and uncover untapped interest in the family enterprise. 2. Co-leadership in family enterprises can work with clear governance: Contrary to the belief that family businesses need one sole leader, co-presidency can thrive if roles, responsibilities, and communication systems are well-defined, leveraging each leader's unique strengths. 3. Family members can successfully own but not work in the family business: Effective governance, strong professional management, and transparent communication can allow families to maintain ownership and legacy without direct involvement in day-to-day operations. I invite you to read the article and learn more about non-traditional approaches to running family enterprises. https://lnkd.in/gyaN-P85 At Xylogenesis® | Family Office Advisory we are focused on creating a family office ecosystem based on three objectives: (1) durable family harmony, (2) financial prosperity, and (3) operational excellence. You’ll find that Xylogenesis® offers a totally different and novel perspective and approach; one that can only be understood through actual experience, and by owning, working in, or leading family offices – for which Xylogenesis® and its team are uniquely qualified. Visit our website to learn more about everything we have to offer and to schedule an appointment. We look forward to hearing from you! https://lnkd.in/gcCHMwKV #FamilyOffice #Governance #FamilyBusiness #FamilyEnterprise

Our firm’s founder is delighted to have been invited by Matthew Gurwin of Graystone Consulting from Morgan Stanley to participate in the Smart Business Network’s Chicago Conference on Wednesday, October 16. Our panel will be focusing on achieving successful outcomes in #MandA #transactions by leading with both the “head” and “heart.” To learn more, please reach out to either Matthew Gurwin or myself. We hope to see you there in a few weeks and that you find value in the conversation. #familyoffice #familyenterprise #familybusiness #enterprisingfamilies #dealmakers #technicalskills #softskills #businesstransactions #exitplanning #governance

Please read below on how contrarian thinking and implementation supported #NextGen development, #durablefamilyharmony, and #financialprosperity in three totally different but common circumstances. We welcome and appreciate novel and creative approaches that support #enterprisingfamilies such as in, “Wealth 3.0” authored by Jim Grubman, Dennis Jaffe, and Kristin Keffeler, MSM, MAPP. Their positive lens inspired our work in thinking creatively and “outside the box.” Thank you to Theodora Viney and Tom Burroughes at the Family Wealth Report for publishing the article authored by our firm’s founder, Richard J. Wolkowitz. #familyoffice #familyengerprise #familybusiness #nextgen #leadinggen, #governance #successionplanning #continuityplanning #generationalplanning

In the complex world of multigenerational enterprising families, it's easy for families to find themselves stuck, and unable to move forward, transition, and/or manage their businesses affairs effectively. When paralysis persists, frustration builds, breakdown in communication results, and family conflict almost always follows. Family dynamics suffer. Family prosperity suffers. It is all avoidable. Having supported families for decades in getting unstuck, I had the opportunity to be a guest on the Family Office Exchange's (FOX’s) podcast hosted by FOX’s CEO, Peter Moustakerski. I hope you find this discussion practical and useful. I was particularly honored by this collaborative opportunity as FOX is widely recognized as the industry’s most exclusive, innovative, and influential community for enterprising family peer networking and learning with an impressive global reach. The organization offers expert guidance regarding complex obstacles related to family transitions and family wealth. During this podcast, we delve into the reasons why families often have trouble moving forward and, more importantly, how they can overcome these challenges. Whether it’s building, transitioning, or managing their enterprises, we explore the mindsets, strategies, and activities that can help families "right the ship" and continue their journey toward long-term success. Key takeaways include: • Understanding the Challenges: Learn why multigenerational families often run into roadblocks and how to recognize the early signs. • Practical Solutions: Discover actionable strategies and mindsets that can help families navigate these complex issues and move forward with confidence. • Advice for Advisors: Gain insights on how family wealth advisors, expert vendors, and service providers can better support the families they serve. I invite you to listen to the podcast and learn more about how to help families get unstuck and continue their path to success. https://lnkd.in/g6w7sQNp At Xylogenesis™ | Family Office Advisory we are focused on creating a family office ecosystem based on three objectives: (1) durable family harmony, (2) financial prosperity, and (3) operational excellence. You’ll find that Xylogenesis™ offers a totally different and novel perspective and approach; one that can only be understood through actual experience, and by owning, working in, or leading family offices – for which Xylogenesis™ and its team are uniquely qualified. Visit our website to learn more about everything we have to offer and to schedule an appointment. We look forward to hearing from you! https://lnkd.in/gcCHMwKV #FamilyOffice #Governance #FamilyBusiness #FamilyEnterprise #SuccessionPlanning #TransitionPlanning #ContinuityPlanning #Structure #FamilyOfficeExchange

I am proud to share that I have been recognized as one of the Family Capital Publishing's FamCap World’s Top 50 Family Enterprise Advisors, an honor that highlights the top advisors in the family enterprise world. Being recognized is both humbling and motivational. The FamCap 50 Advisors are recognized for their outstanding contributions to family enterprises in various fields, including finance, law, consultancy, and more. This list was compiled after extensive polling of Family Capital’s readership, followed by a thorough review of each advisor's work and impact within the family enterprise ecosystem. I am humbled to be included among such esteemed professionals who are making a difference in this sector. To do this work properly truly requires a 24/7/365 day fiduciary mindset, ownership commitment, and time availability as these complex multigenerational families are dynamic and their opportunities and challenges rarely idle. Being in the room and facilitating conversations where “breakthroughs” occur on both the “head” and “heart” matters where individuals are exchanging ideas and talking with each other, getting to know their family and themselves more authentically, and hugging, laughing, and crying together is a purposeful and meaningful way to spend each day. I thank my family clients for the opportunity. You can learn more about this exclusive list and special honor by downloading this PDF file now. https://lnkd.in/gmC8qvxi At Xylogenesis™ | Family Office Advisory we are focused on creating a family office ecosystem based on three objectives: (1) durable family harmony, (2) financial prosperity, and (3) operational excellence. You’ll find that Xylogenesis™ offers a totally different and novel perspective and approach; one that can only be understood through actual experience, and by owning, working in, or leading family offices – for which Xylogenesis™ and its team are uniquely qualified. Visit our website to learn more about everything we have to offer and to schedule an appointment. We look forward to hearing from you! https://lnkd.in/gcCHMwKV #FamCapWorldsTop 50 #FamilyOffice #Governance #FamilyBusiness #FamilyEnterprise #SuccessionPlanning #TransitionPlanning #ContinuityPlanning #Structure

Ben Franklin said: “An ounce of prevention is worth a pound of cure.” Addressing difficult situations before they happen can be a painful but necessary exercise for family offices. For example, in the intricate world of family office management, few topics spark as much frustration as insurance and risk mitigation. Often regarded as tedious and complex, discussions about insurance can derail productive meetings and family office dynamics. In my latest co-authored article for Crain Currency we explore why the topic of insurance often gets sidelined and how proactive management can transform risk mitigation from a burden into a strategic advantage. From understanding the purpose and value of coverage to tackling the challenges of underinsurance and overinsurance, this piece provides crucial insights into managing these vital aspects of family office operations. The article also provides several case studies addressed by a family office insurance broker. Key takeaways include: • Common challenges: Learn about the frequent pitfalls that lead to insurance gaps, such as complacency, miscommunication, and complex policy language. • Effective solutions: Discover the value of governance and consistent and transparent communication between family office teams and risk managers to ensure comprehensive coverage and avoid costly oversights. • Proactive strategies: Explore actionable strategies for creating a governance structure that prioritizes regular updates, audits, and a culture of risk awareness. The article also includes a compelling case study highlighting how a thorough insurance audit can reveal significant coverage gaps and the benefits of establishing a routine for reviewing policies and assessing risks. I invite you to read the article to learn more about this important topic. https://lnkd.in/gY2h7K6b At Xylogenesis™ | Family Office Advisory we are focused on creating a family office ecosystem based on three objectives: (1) durable family harmony, (2) financial prosperity, and (3) operational excellence. You’ll find that Xylogenesis™ offers a totally different and novel perspective and approach; one that can only be understood through actual experience, and by owning, working in, or leading family offices – for which Xylogenesis™ and its team are uniquely qualified. Visit our website to learn more about everything we have to offer and to schedule an appointment. We look forward to hearing from you! https://lnkd.in/gcCHMwKV #FamilyOffice #Governance #FamilyBusiness #FamilyEnterprise #SuccessionPlanning #TransitionPlanning #ContinuityPlanning #Structure

Congratulations to our firm’s Founder, Richard J. Wolkowitz, for being recognized by Family Capital Publishing as one of the World’s Top 50 Family Enterprise Advsiors. https://lnkd.in/gZQ7x6Zs #familyoffice #familyenterprise #familybusiness #multigenerational #LeadingGen #NextGen #durablefamilyharmony #financialprosperity #operationalexcellence

Tree rings record a deep, rich history of tree growth, health, sickness, and even trauma. They reflect the natural, organic growth of a tree, as well as the effect of external factors such as weather conditions (drought, flood, excessive wind, etc.), insects, and other environmental conditions. Tree rings are a language unto themselves; perhaps the first language ever. In a new article I authored for Investments & Wealth Monitor from Investments & Wealth Institute, you’ll see that a family of substantial means, and its enabling business or enterprise, evolve organically and dynamically, too. They are impacted by external factors such as birth, death, marriage, divorce, business cycles, industry changes, government laws and regulations, acquisitions, divestiture, litigation, and other factors that can strengthen or weaken the family and its enterprise. Thus, “xylogenesis™” can be a useful metaphor for BOTH the family and its advisors in approaching and aligning around family wealth and dynamics. You’ll also discover why effectively navigating your own multigenerational family or advising multigenerational families requires an understanding of the “xylogenesis™ effect” and, equally important, the balance between technical, objective, quantitative matters (“left brain”) with emotional, subjective, and qualitative matters (“right brain”). Family offices require intentionality around head-heart as a “both/and,” not an “either/or.” To have an enduring and endearing relationship amongst family members and their advisors, everyone in the system must contemplate, lead, plan, and communicate with their heart besides their head. I invite you to read the article to learn more about this critically important approach. https://lnkd.in/gVJ7aT6q At Xylogenesis™ | Family Office Advisory we are focused on creating a family office ecosystem based on three objectives: (1) durable family harmony, (2) financial prosperity, and (3) operational excellence. You’ll find that Xylogenesis™ offers a totally different and novel perspective and approach; one that can only be understood through actual experience, and by owning, working in, or leading family offices – for which Xylogenesis™ and its team are uniquely qualified. Visit our website to learn more about everything we have to offer and to schedule an appointment. We look forward to hearing from you! https://lnkd.in/gcCHMwKV #FamilyOffice #Governance #FamilyBusiness #FamilyEnterprise #SuccessionPlanning #TransitionPlanning #ContinuityPlanning #Structure