Coaching and Mentoring - The Rising Generation

Yeah.

So I think that when you're developing an emerging leader in a firm, you're thinking specifically about a role or sort of a very specific career trajectory.

Whereas when you're developing a family member, you are developing their identity, right? You're In a firm, you can separate that idea of performance from personhood.

And in a family, you're talking about the person.

Families can't separate that, even when there is a role that maybe they are developing into perhaps many roles.

We often wear many hats as family members.

And so development for family members are occurring in a lot of different places.

Not that that can't be true of emerging leaders otherwise, but relationships, expectations, legacy, wealth, family history, belonging, all of those things are really wrapped in to developing a rising generation family member relationship.

And not that they aren't important for anybody working in any role, but they become much more meaningful when you're talking about being a part of your family and moving as a family towards something in the future.

Brilliant.

Thank you.

And just sticking with you, and then I'll invite Jess and Paul to share their views on this point as well.

But families often invest heavily in preparation, preparing the next generation for wealth, if that's the environment they're growing up in.

But what are the things that sometimes they might miss? As I say, start with Bryn, but open the conversation up to everybody.

Yeah.

I mean, I think that the sort of key is that there's often a thought about preparing people, rising gen to manage wealth rather than preparing them to relate to wealth.

And I think that that is a really big difference.

So there's a way in which we've sort of the wealth 1.0, 2.0 ideas that we're teaching financial literacy.

We're teaching the basics of governance.

We're teaching different types of ownership structures and investment concepts, but we're missing, and Paul talked about this, how do you make decisions? How do you think about decision-making? How do you think about what your own personal judgment looks like? Emotional maturity, we're missing self-awareness.

We're missing the elements that are tied to identity and things like that.

And so, And we're missing that personhood element.

I'll go back to that phrase.

And focusing maybe too much on, or maybe in the past we have, and we've learned our lesson, we focus too much on the structural things, things that are going to be really necessary, but forgetting about the people themselves.

I think that's what we often miss.