What happens when the boardroom table is also the family dinner table? For many, the vision of building a lasting legacy through a family business can evolve into a complex reality, one met with unspoken tensions and competing desires.

In this episode of On Pointe, host David Savir sits down with Megan Helzner and Tom Bonner, expert consultants from CFAR who specialize in helping multigenerational families navigate the many complexities of operating a family-owned business or holding shared assets across generations. Together, they explore the delicate balance between family harmony and business performance, moving far beyond simple financial advice to address the deeply personal dynamics that shape a legacy.

This conversation uncovers the meaning of “fairness” when some family members work in the business and others do not, revealing a fascinating framework that includes not just financial wealth but also roles, influence, and evaluation. Megan and Tom share powerful insights from their work, including the importance of “making the implicit explicit” and the memorable analogy of a family leader who uses different physical hats to separate their roles as board member, manager, and family member.

This episode is a must-listen for families navigating similar territory.

00:00 : Introduction

01:38 : Welcome to On Pointe: Navigating Family-Owned Businesses

02:23 : Introducing Megan Helzner & Tom Bonner of CFAR

03:31 : The Unique Role of a Family Enterprise Consultant

05:22 : The Generational Challenge: From Siblings to Cousins

06:24 : What Does "Fairness" Really Mean in a Family Business?

07:36 : The Four Dimensions of Fairness: Beyond the Financial

10:07 : Who Leads? Navigating the Gravity of Influence

11:52 : The CFAR Process: How to Begin Untangling Family Dynamics

17:37 : Is It Ever Too Late? The Right Time for Governance

22:02 : Three Pillars of Family Governance: Start Early, Be Explicit, Revisit

24:31 : Wearing Different Hats: Separating Roles in a Family Business

29:13 : The Family Business Advantage: A Truly Long-Term View

33:13 : The Liquidity Dilemma: When to Sell vs. When to Hold

36:10 : When Outsiders Enter: The Impact of Private Equity

38:38 : The Core Principles: Understanding, Knowledge, and Communication

38:59 : It's Deeply Personal: Navigating History and Hurt Feelings

40:33 : Final Thoughts & Thank You

Co-hosted by Element Pointe Family Office CEO and Co-Founder David Savir and CIO and Co-Founder Carlos Dominguez, this podcast explores topics that matter to ultra-high-net-worth families and family offices. Each episode features candid, in-depth conversations with expert advisors, industry leaders, and influential voices across wealth management, investing, philanthropy, cybersecurity, art, travel, private aviation, and more. New episodes released twice a month on Thursdays. Follow us on YouTube, Spotify, and Apple Music.

Links:

Element Pointe Family Office: elementpointe.com

Spotify: https://open.spotify.com/show/7zeWi0jLDpbaw90AHsvh5r?si=d856e03ca281479eApple Podcasts: https://podcasts.apple.com/us/podcast/on-pointe-podcast/id1828453489

Disclaimers:

The information provided in this podcast is for informational purposes only and does not constitute financial, investment, or professional advice. The views expressed by the host and guests are their own and do not necessarily reflect the opinions of any organization or company. The host and guests may maintain positions in any securities discussed on the podcast. Always consult with a qualified financial advisor or professional before making any investment decisions.

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