Investment Commentary


Voices in Leadership: Expert Advice on Navigating a Successful Wealth Transition

In this podcast, Chief Knowledge & Learning Officer Amy Hart Clyne speaks with President & CEO Amy Castoro of The Williams Group, a family coaching firm in San Clemente. Amy Castoro has helped countless families build a legacy of prosperity, trust, and care for future generations. In their discussion, the two Amy's talk about family wealth transitions, including establishing family roles and the importance of having difficult conversations.

 

 

Here is what is discussed in the episode:


3:45 – The reasons behind the often-cited stat that 70% of families fail at transitioning their legacies.

6:35 – How the coronavirus has created new threats to family legacies, as well as opportunities for new voices and new ideas to emerge.

9:35 – Conversations around roles within the family and looking at competency and standards

14:38 – Broadening the family communications scope to include family conversations, not just family business conversations.

18:00 – How to start the money conversation. 

21:55 – The importance of talking about the purpose of wealth and creating an aligned family mission statement.

26:20 – The fear of starting and the cost of waiting to have the difficult conversations around wealth.

28:25 – Advice to help resilient families be successful. 


 

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About Pitcairn

Pitcairn is a true family office and leader in helping families navigate the challenges and opportunities created by the interplay of family and financial dynamics. Through Wealth Momentum®, an experience-based family office model, Pitcairn helps families achieve a more effective and complete experience. Since its inception, Pitcairn has partnered with some of the world’s wealthiest families to meet their needs and drive better outcomes – year to year, decade to decade, generation to generation. Today, Pitcairn is recognized as an innovator, guiding families through generational transitions and redefining the industry standard for family offices. The firm is located in Philadelphia, with offices in New York and Washington, DC and a network of resources around the world.