Impact Coaching & Consulting works with:
For Multi-generational HNW Families & their Advisory Teams:
Decision-making around philanthropic impact, wealth succession planning, generational transitions, and culture change involves navigating the complicated waters of individual personalities, perspectives, and paradigms on top of the existing family dynamics.
Joint decision-making and collaborative impact in families is a unique team sport. There is nothing simple about playing on a team with our partners, parents, siblings, and extended families.
How can families set the stage for success as they generate impact both externally in the world and internally within the relational system?
- Being proactive in creating the best possible conditions for the family to discuss and negotiate the interconnected themes of money, power, leadership, values, and mission will serve the system well.
- Re-establishing and fortifying the system with the comprehensive set of currencies will improve trust, agility and resilience thus - sustained engagement.
“While the vast majority of participants enjoyed their experience participating in their family foundation, felt that it increased their personal giving, and felt closer to their family as a result, participants from more collaborative family foundations had a more positive experience. They reported higher levels of family cohesion, effective governance, and impact on communities served. They also reported lower levels of tension between individuals and branches in the family, and between personal and collective interests.”
- Excerpt from “Philanthropy in Complex, Multi-Generational Families: Balancing Individual Preference with Collective PurposeLeaders/Social Entrepreneurs”, A.Blanchard & W. Ulaszek, NCFP Report, April, 2023
It is exciting to witness our present and future leaders embracing their role in our collective global path to NetZero and beyond. Embracing environmental stewardship, climate justice solutions, supportive DEI cultures, and the expansive horizon of a regenerative/circular economy is more than exciting; it’s necessary.
This next economy, the emerging economy, requires a leadership rebalancing act. These leaders stand at the precipice of generative leadership, holding vast resources and influence in their hands.
- How will you lead in this new paradigm?
- How will you successfully navigate and guide your organizations and teams into a future requiring a different perspective?
- What do you need to successfully meet the moment?
- How will you set the stage for success as you generate impact both externally in the world and internally, for yourself, your senior team and the broader relational system of your organization?
Increasing individual and collective agility, learning to foster cultures that invest in and honor psychological safety, trust, and inclusion, as well as the willingness to mindfully share power while continuing to nurture talent, profit, success, and rapid innovation, will all be top of mind.
"When you have a psychologically safe culture, you’ll retain your best people and attract other top talents who want to work for you. A secure culture enables productivity to soar, because people aren’t too intimidated to ask questions, make suggestions or ask for help. In these cultures, people tend to be more loyal and take great pride in the organization and the work they do. Moreover, you’ll inspire an atmosphere where engaged employees are motivated to achieve greater innovation: creativity that improves revenues."
- Susan David, Ph.D., Emotional Agility
When co-founders embark on a shared venture together, the endeavor closely resembles a family system and the dynamics that come along with it. Navigating the complex and unique dynamics of such a system in the context of high-stakes decision-making requires similar care and attention to all the work outlined above.
- How will you keep teamwork and the system thriving when the inevitable core themes of money, power, leadership, shared and individual identity, and mission become a source of uncomfortable divergence and potential conflict?
- How will you set the stage for success as you seek to generate impact both externally in the world and internally, for yourself, and within the relational system of your team and your organization?
“And while marriages are complicated, business partnerships are even more so. The added pressures of courting investors, managing employees, speaking to the public and meeting the bottom-line add further strain to multilayered dynamics. Few co-founder relationships survive the pressure—research shows that 65% of startups fail because of interpersonal tensions within the founding team. I often see three categories of hidden issues: power and control, care and closeness, and respect and recognition.”
- Esther Perel (www.estherperel.com)
There are many choices couples must make regarding their individual and shared relationship around money and meaning. Those choices inevitably have big implications on individual and shared identity as well as family culture.
Navigating the important work of financial decision-making, giving, and planning together, which includes the following emotionally charged topics, is not an easy task:
- Exploring the if/why/when/how regarding the question of blending assets/finances.
- Understanding and negotiating spending habits.
- Aligning around the fiduciary responsibilities and impact of inherited wealth.
- Exploring the if/why/when/how of pre-nuptial and post-nuptial agreements.
- Working together and aligning around unexpected and expected wealth events.
- Designating Power of Attorney and Health Care Proxy.
- Designating beneficiaries.
- Leading aligned conversations with children about money
- And so much more...
How will you create the conditions for success as you seek to generate a positive impact both externally in the world and internally for yourself, your relationship, and your family system?
"Money is never just about money—financial plans are also emotional plans."
“By 2030, American women are expected to control much of the $30 trillion in financial assets that baby boomers will possess—a potential wealth transfer of such magnitude that it approaches the annual GDP of the United States.”
- Excerpt from - “Women as the next wave of growth in US wealth management”, July 29, 2020 | Article
This is an extraordinary and important time for women to hone their identity and values, and embrace their power/influence as they continue to build their autonomy and agency, allowing them the freedom to generate the kind of impact they hope for and envision for themselves, their families, their communities, and the world.
- How will you shape your individual and collaborative financial future?
- What do you need and want in order to reach the next level of empowerment and confidence in your relationship with money, power, leadership and giving?
- How will you set the conditions for success as you generate impact both externally in the world and internally, for yourself, your family system, your organization and beyond?
“With wealth comes influence, as women today control more investable capital, voting shares of stock and corporate board seats than ever before. In 2021, the percentage of director roles held by women on the boards of S&P 500 companies reached an all-time high of 30%. That means the unique perspectives of our mothers, wives, daughters, colleagues and business partners are increasingly moving the markets and changing the ways we talk about money.”
- Elizabeth Dennis, Women, Wealth and Investing; A Story of Evolution, Morgan Stanley Wealth Management.
Client Engagement Process
We begin with an Initial consultation that includes:
- Identifying major themes, potential areas of focus, and aspirations/goals for our work
- An overview of our lens on the work: a strengths based model and systems lens/ approach.
- Exploring any concerns or obstacles to the process
- Sharing relevant examples of client engagements including challenges, successful outcomes and engagement design
- Discussing and establishing a measured set of expectations for the process.
- Establishing a communication and feedback loop to support an effective and consistent working relationship.
Once we complete an initial consultation, we draft and send a proposal that includes:
- Scope of Work
- Goals/Intended Outcomes
- Phases of Work
- Timeline & Cadence
- Fees & Billing summary
- A brief narrative that describes and captures the nuances of the work and how we will engage with you and your family/team/ organization/system.
We work co-creatively with every client at this stage:
- You review the proposal in detail and send feedback.
- We iterate the document until we agree it is ready to be converted into a contract.
- A signed contract serves as a customized shared Action Plan/Map.
- We launch the timeline and put our first meeting/session on the calendar.
This process involves:
- Guided inquiry within the initial consultation and beyond.
- Consideration of potential timeline, cadence of the work, and availability.
- Initial goal setting.Setting expectations for the process.
- Discussion of boundaries and system thinking/approach.
- Discussion on communication and feedback loop to support an effective and consistent working relationship.
Once we complete all the above, the proposal will convert into a formal contract, and then we begin the work. The signed contract serves as a customized Action Plan. Along the way, we will be adhering to clear “phases of work,” and a formal “check-in'' will take place as we near the completion of each phase to evaluate the process and progress. See an [LINK]Example Engagement Proposal/Contract[/LINK].
An important part of any customized work within a client engagement is to pay close attention to any adjustments that need to be made along the way, not only in terms of the goals and intended outcomes but also to the client system and the process. When engaging in this kind of nuanced work, it is essential to assess how the work is going and how it is being experienced as it unfolds. Often, we will spend some important time exploring and identifying the “why” behind the core guiding principles, values, and system dynamics that guide the system.
- Expansion and empowerment of leadership identity, skills, and development.
- Creating the conditions for a learning and growth mindset.
- Tools and processes to support and accelerate effective decision-making and transitions.
- Fostering group cohesion.
- Addressing conflict - constructively.Shifting individuals and teams to become more knowledgeable, agile, comfortable, and skillful when engaging with, managing, and repairing conflict.
- Deepening our understanding of relevant, persistent, and aspirational system dynamics.
- Deconstructing and exploring the leadership potential within individual and team roles and responsibilities.
- Uncovering blind spots and addressing the existing paradigms around money, power, influence, and leadership within your unique system.
Strategic partners can be invited in as needed to support the design and delivery of key puzzle pieces as needed.