Transitioning Next-Gen Wealth with Tom Deans - Always On With Duncan MacPherson, Ep. 56

Passing on a legacy and managing family dynamics can be overwhelming for first-generation business owners.

As their advisor, how can you help prepare their heirs and transition wealth smoothly?

I spoke with Tom Deans, Ph.D., who is an expert on passing wealth between generations. He is a speaker and author of "Every Family's Business" and "Willing Wisdom." Advisors can assist self-made first-generation business owners and professionals by focusing on continuity and succession planning. This can help boost client retention and referrals.

We also discuss:

• Major challenges faced by business owners during succession planning
• How advisors can set the stage for successful wealth transfer
• Why multi-generational family meetings (with the advisor present) can be incredibly powerful and revealing
• Strategies for addressing complex family dynamics
• A sneak peek into Tom's upcoming book: The Happy Inheritor
• And more

Stream the new episode of Always On by clicking here: paretosys.co/AODM_ep56