Only 10% of family businesses make it to the fifth generation. Rex Templeton's family beat those odds. 

In this episode, Barbara sits down with Rex, fifth-generation leader of Morris and Templeton Insurance, for an honest conversation about navigating family dynamics, maintaining core values across generations, and the difficult decision to sell a legacy business after more than 40 years of family ownership. Rex shares powerful stories about integrity, the evolution of communication styles between generations, and what it takes to keep a family business healthy while protecting family relationships.

What’s in This Episode:

• Core values that transcend generations: honesty, hard work, and diligence

• The Mr. Mosley story and what it reveals about trust and integrity in business

• How communication styles change from generation to generation and why it matters

• Managing conflict resolution when family members work together

• The "eat what you kill" commission model and how it minimizes hierarchy conflicts

• Why Rex and his wife decided working together wasn't right for their marriage

• The importance of authentic community involvement without immediate business expectations

• Succession planning: why they were "10 or 12 years too late" and how they navigated the sale

• Interviewing 18 potential buyers and choosing culture fit over the highest offer

• Maintaining the Morris and Templeton name, team, and operations after the sale to Alchemy Insurers

• Advice for young entrepreneurs: protect the business entity like a family member and prioritize transparency

Visit:

Learn more about Barbara Treadwell and future episodes at BarbaraTreadwell.com

Follow on Instagram @LoveAndMoneyPodcast and on Facebook Love & Money with Barbara Treadwell

Securities offered through Osaic Wealth, Inc. member ⁠FINRA⁠/⁠SIPC⁠. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.