Family Matters for Business Owning Families

Date: Monday, October 21, 2019
Time: 12:00pm - 1:15pm
Location: MAC 405 Washington Avenue, St. Louis, MO 63102
Speaker: Claudia B. Sangster

About the talk:

Much of the wealth in America today has come from family-owned businesses.  Recognizing that family businesses are the engine of significant wealth, it should be no surprise that business-owning families would like to see the business (and the wealth from such business) continue through multiple generations.

But there is a rub. The likelihood of successful transitions of family businesses to the third generation and beyond is distressingly low: less than 12% of businesses survive to the third generation.  Why the dismal results in succession planning for family businesses?  This presentation will explore how the family can mitigate the failure rate and some best practices that can be implemented to strengthen the business and the family over multiple generations.

Speaker bio: 

EXPERTISE

Claudia B. Sangster is the Director of Family Education and Governance in Wealth Management at the Northern Trust Company. In this role she designs the firm's advisory capabilities in financial education, family decision-making, and relationships around money and wealth. Claudia collaborates with clients, their advisors and Wealth Planning partners in identifying and establishing appropriate educational programs and governance structures for multi-generational families in order to prepare family members to steward the wealth, to enhance family unity and to help sustain all aspects of the family’s capital—financial, intellectual, human and social.  She works with families to create their legacy of wisdom, wealth and giving through multiple generations.

EXPERIENCE

Claudia has over 30 years of experience in advising individuals and families in financial education, estate planning, family governance and philanthropy. Prior to joining Northern Trust, Claudia was with CTC | myCFO, where she served as the Director of Philanthropy, Estate and
Trust Services.

EDUCATION

Claudia earned a Bachelor’s degree, Summa Cum Laude, from Pepperdine University, and a JD, Magna Cum Laude, from the University of Houston, College of Law.

CREDENTIALS

Claudia is a frequent speaker and author on topics including values, finance and family legacy, as well as trends in family education, governance
and philanthropy.

COMMUNITY INVOLVEMENT

Claudia is a Founding Partner of Social Venture Partners in Los Angeles, Board Chair Emeritus of the Associated Women for Pepperdine, former Board member of the Prostate Cancer Research Institute of Los Angeles, Advisory Board member Emeritus of the Preston Robert Tisch Brain Tumor Center at Duke University Medical Center and Chairperson of the Board of Trustees of the Nicholas Endowment.

 

CE

CPE Learning Objectives

Upon completion of this course, you should be able to:

Better understanding of how family dynamics affect family businesses and the family and ideas to assist famalies who are planning for transitions. 

Delivery Method: Group-live setting

Earn 1 CPE Credits for this session. Number of credit hours earned based on 50 minutes of talk. Change if more than one hour.

Field of Study:  Specialized knowledge.

Program Level Basic

Prerequisites – There are no prerequisites or advanced preparation for this session.

Who should attend? Everyone at all levels

CFP 

Program Summary:  

Much of the wealth in America today has come from family-owned businesses.  Recognizing that family businesses are the engine of significant wealth, it should be no surprise that business-owning families would like to see the business (and the wealth from such business) continue through multiple generations.

But there is a rub. The likelihood of successful transitions of family businesses to the third generation and beyond is distressingly low: less than 12% of businesses survive to the third generation.  Why the dismal results in succession planning for family businesses?  This presentation will explore how the family can mitigate the failure rate and some best practices that can be implemented to strengthen the business and the family over multiple generations.

Learning Objective(s): Better understanding of how family dynamics affect family businesses and the family and ideas to assist famalies who are planning for transitions. 

 

Level of Complexity Basic

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