Intergenerational Transitions: Serving the Entire Family

July 11, 2023

at 12:00 pm EST

Guest Speaker(s):
Dean R. Fowler, PhD and Josh Gentine
Host:
John A. Warnick, Esq., Founder, Purposeful Planning Institute
 The best intergenerational transitions are developed through open communication and ongoing dialog within the entire family, and particularly when the next generation has a voice in planning the future.  Once the family is clear about their future goals, then excellent plans (that are also tax efficient) may be developed.  Too often advisors to families of wealth and family businesses see the senior generation – in particular the wealth creator – as their primary, and often, only client.  Such planning often fails with the death of the senior generation when the next generation falls into conflict. Designing continuity is a process that weaves together issues of love, power, and money.

Introduction to our Guest Speaker(s)

Dean R. Fowler, Ph.D. is recognized as one of the world’s leading family business advisors. For forty years he has served hundreds of families-in-business and facilitated Forums for Family Business™ – peer advisory boards. The Family Firm Institute, honored him with the prestigious Award for Interdisciplinary Achievement. He is the author of several books including “Love, Power, and Money”, “Proactive Family Business Successors”, and “Family Business Success Factors,” and his essays appear in both editions of “The Wisdom of Wealth.”  Through his international research, he developed an assessment process – The FamilyNavigator  – completed by the entire family and its advisors to measure twelve competencies for successful intergenerational transitions. 

 

Josh Gentine is a family business advisor, executive coach, and talent consultant, helping families, individuals, and family-run organizations navigate high-impact transitions. By combining his experience as a third-generation family business owner, corporate director, and former human capital consultant with Deloitte Consulting, Josh draws upon a wealth of experience when advising clients. Josh’s focus at Bench is centered around helping families-in-business transition leadership from one generation to the next, supporting families through conflict resolution, coaching family members and senior leaders, and building talent strategies that support family transitions. Josh is a board member at several organizations including his family’s company, Sargento Foods, an international food company. In addition to his consulting and advisory work, Josh leads a round table group for family executives with middle- and large-cap family-run companies and he has also partnered with Dean Fowler to develop The FamilyNavigator, a family business assessment tool used to support successful, intergenerational transitions.

Webinar Host

John A WarnickJohn A. Warnick, who family, friends, and clients know as “John A,” describes himself as a “recovering tax attorney.” After practicing for thirty years as a tax and legal advisor to wealthy families, he left the large law firm he was a partner in to pursue his passion of assisting clients transition their wealth more purposefully. He works with clients and their team of advisors to ensure that the impact of their technical planning will be a positive force in the lives of the rising generations of their family. His blog, Seedlings, provides suggestions on powerful but easy ways in which we can create non-financial legacies for our families and communities.

John A has been on what he describes as the path to Purposeful Planning Mastery for almost twenty years. There are many technical and professional mentors he is indebted to. But he is quick to point out, “My greatest teachers have been my clients. It is through them I discovered the secrets for producing not just tax-wise plans but plans that promote family harmony, individual growth and long-term preservation of family wealth.”

John A is a Fellow of the American College of Trust and Estate Counsel. He has served as the Philanthropic Editor of the Journal of Practical Estate Planning and serves on the Carter Center Philanthropy Council and the Multidisciplinary Teaming and Professional Collaboration Committee of the National Association of Estate Planners and Councils. His publications include “Generative Trusts & Trustees: A New Paradigm for Design and Administration,” “Innovate or Die,” and “Selecting a Trust Situs in the 21st Century.” He graduated magna cum laude from Brigham Young University with a Bachelor of Arts and received his JD from George Washington University, graduating with honors.

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