Thought Leadership

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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