The Voice of the Rising Generation: Family Wealth and Wisdom

Praise for THE VOICE OF THE RISING GENERATION “Hughes, Massenzio, and Whitaker have given us a model for voicing and listening to the challenges and opportunities heirs face. They encourage self–reflection through an exploration of Homer’s Odyssey, real–life profiles, and questions that promote a deeper and broader understanding of the context for assessing risk and making choices regarding wealth and one’s life path.” —BONNIE BROWN HARTLEY, President, Transition Dynamics Inc; co–author, Family Wealth Transition Planning “This book speaks directly to individuals struggling to find their own voice in the family enterprise, clarifying the challenge and importance of individuation for all of us. The bite–size chapters are easy to absorb, and there are three workshop strategies at the end to help you get started with the critical conversations.” —SARA HAMILTON, Founder and CEO, Family Office Exchange “From brass tacks practicality to insights and inspiration, the authors have provided a helpful guide that is both refreshing and timeless, illuminating key challenges and choices facing rising generations.” —ANNE D. M C CLINTOCK, Executive Director, Harvard University Planned Giving “Bravo to Jay Hughes, Susan Massenzio, and Keith Whitaker whose The Voice of the Rising Generation ??acknowledges that the younger—rising—generation has choices, hope, and vision where they may have thought they had none; poses questions that are bound to spark conversations among and between generations that have long been stuck and silenced; and provides tools that are bound to develop resilience, confidence, and competence in readers.” —ANGELO ROBLES, Founder and CEO, Family Office Association “Jay Hughes, Susan Massenzio, and Keith Whitaker have once again reframed the dialogue surrounding the possibilities of multi–generational success.??By recasting the journey inheritors must make from following, or being ‘Next,’ to ‘Rising,’ the authors infuse the passage into adulthood with the possibilities of self–actualization. The Voice of the??Rising Generation provides an important guide to cultivating the human capital, which is where the strength and ultimate success of a family lies.” —MINDY ROSENTHAL, President, Institute for Private Investors “Jay Hughes, Susan Massenzio, and Keith Whitaker share with the rising generations of legacy families what the unconventional Lionel Logue offered to King George V—the priceless pathway towards finding one’s voice and the faith to know that it is worth the journey.” —JOHN A. WARNICK, Founder of the Purposeful Planning Institute

Preface Acknowledgments Introduction A Well–Known Family The Challenge The Journey Our Approach Aids to Navigation Chapter One: Setting Sail The Black Hole Talking about Silence The Very Good Steward The Meteor Froggy The Parallel Universe The Anxious Heir Mr. Reputable The Grand Giver Testing the Boundary Mentor Chapter Two: Rosy–Fingered Dawn Awakening Rising Slings and Arrows Chapter Three: Self–Knowledge The Center Internal and External Dreams Strengths and Hurdles Individuation Externals The Balance Sheet Chapter Four: Facing the Waves Getting Away Taking the Leap Work Relationships Communication Leaving Ithaca Chapter Five: the Middle Passage The Island of the Lotus–Eaters The Middle Passage A Forceful Hand Self–Advocacy Ownership Leadership Parenting in the Middle Passage Questions for Rising on Your Own Conclusion Another Well–Known Family Our Journey Thus Far Searching for Elders Returning to Mentor Flying Away About the Authors Index

JAMES (Jay) E. HUGHES, J R . is the author of the acclaimed classic Family Wealth and Family: The Compact Among Generations , and the co–author of The Cycle of the Gift: Family Wealth and Wisdom . He has also written numerous articles on family governance and wealth preservation. James is a frequent speaker at symposia on the growth of families’ human, intellectual, social, spiritual, and financial capital. D R . SUSAN E. MASSENZIO is a psychol–ogist with many years’ experience consulting to heads of family businesses and helping to plan leadership succession. Susan is the co–author of The Cycle of the Gift: Family Wealth and Wisdom. D R . KEITH WHITAKER has many years’ experience aiding enterprising families in communication around estate planning and philanthropy. His writings have appeared in The Wall Street Journal, The New York Times , and The Financial Times . Keith is the co–author of The Cycle of the Gift: Family Wealth and Wisdom.