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Business Owner Insights

Wealth Magazine
Insights and advice for managing wealth.

Explore our collection of business owner focused videos and webinars featuring Northern Trust experts and special guests

Engaging the Next Generation

Transition planning is critical to the future of every business. But for family businesses, engaging the next generation, identifying future leaders and preparing responsible shareholders is also crucial to successful transitions. Engaging the next generation is a process that is not easy—especially as families grow in size.

Speakers: Northern Trust expert Claudia Sangster, Director, Family Education and Governance Services and Charlotte Lamp, PhD, Principal and Family Business Consultant of Rockwood Consulting.

Video: Engaging the Next Generation (60:00)

 


Finding Purpose After the Sale

Regardless of whether selling or transferring the business to the next generation, it is important to understand the dynamics of what will occur after this transition, financially and emotionally.

Speakers: David Williams, Northern Trust’s Trust and Advisory Services Practice Executive and Mary Ann Sisco, Regional Senior Wealth Advisor, Northern Trust.

Video: Finding Purpose After the Sale (55:00)

 


Benefits of a Strong Governance Culture

What is family governance? Learn the importance of a governance framework and how it focuses shared family values, vision and mission across multiple generations.

Speakers: Ashley D. Joyce, President, The Duchossois Family Foundation and Claudia Sangster, Director, Family Education and Governance Services, Northern Trust.

Video: Benefits of a Strong Governance Culture (60:00)

 


Sharing Expectations About the Family Business

Transition planning is critical to the future of every business. But for family businesses, the transition process – whether transferring to the next generation or selling the business – is infused with family dynamics that can derail, or at a minimum, complicate the process. Hear some best practices that families have used to sustain their wealth, their business and family harmony.

Speakers: Charlie Mueller, Northern Trust’s Trust and Advisory Services Practice Executive and Claudia Sangster, Director, Family Education and Governance Services, Northern Trust.

Video: Sharing Expectations About the Family Business (59:00)

 


After the Sale...A Retrospective

Review the recent sale of a family business as a basis to learn techniques that contributed to the success of the transaction, and hear how it could have been handled differently.

Speakers: J Schwan, Founder and CEO of Solstice, and Kevin Harris, Managing Director of Northern Trust’s Family Business Group.

Video: After the Sale...A Retrospective (52:00)

 


Developing Next Generation Leaders

When it comes to family, who gets a job in the family business? Once engaged, how are future leaders identified? Learn the key ideas that help advance the development of next generation family business leaders.

Speakers: Peter Begalla, Conference and Education Director, Family Business Magazine, and Charlie Mueller, Northern Trust’s Trust and Advisory Services Practice Executive.

Video: Developing Next Generation Leaders (58:00)

 


Selling a Business - How Do I Prepare?

Planning for the sale of a business is more than just minimizing the risk of not selling, minimizing income and transfer taxes, and preserving family consensus. Learn how the planning process can be summarized into three parallel and inter-related areas: Business plans. Wealth plans. Family plans.

Speakers: Dennis Kessler, former Co-President of Fel-Pro, Inc., and Charlie Mueller, Northern Trust's Trust and Advisory Services Practice Executive

Video: Selling a Business - How Do I Prepare? (58:00)

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This information is not intended to be and should not be treated as legal advice, investment advice or tax advice and is for informational purposes only. Readers, including professionals, should under no circumstances rely upon this information as a substitute for their own research or for obtaining specific legal or tax advice from their own counsel. All information discussed herein is current only as of the date appearing in this material and is subject to change at any time without notice.