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When picking the next leader of the family enterprise, don’t let emotion get in the way of good decisions

One of the most gut-wrenching decisions a patriarch or matriarch needs to ultimately make is determining which family member should take on the senior-most role of the family enterprise.

Founders tasked with making this succession decision have likely lost many a night’s sleep thinking about what's best for both the business and the family, writes Gerald Pulvermacher, an organizational psychologist and head of Gerald Pulvermacher & Associates (GPA). 

In this article for Canadian Family Offices, Pulvermacher offers a step-by-step, structured approach that has shown itself to be both fair and effective. 

It was our most popular article so far this week. 

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Member Content

Uncertainty abounds: highlights from January’s Canso Market Observer

With Trudeau out, and Trump back in, there is plenty of uncertainty as we start the new year—and currently the risks seem high. In their latest quarterly Market Observer, the team at Canso Investment Counsel Ltd. highlights the unpredictability of tariffs, inflation, and risk—while also outlining their strategy for the quarter.

This story is brought to you by Canso Investment Counsel Ltd.

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More This Week & From Our Archives

Wealth arrives suddenly, and now you feel ‘like a guest in your own life’

Recipients of a windfall can feel a disorienting loss of identity. ‘The wealth feels like it isn’t truly theirs’
Wealthy family’s weak point: an unwary senior with signing authority

Criminals are weaponizing social media and AI to defraud family members coping with the transition to digital world
How to choose the best outsourced CIO for your family office or foundation

OCIOs are gaining ground in Canada, but families seeking one need to do their homework and ask the right questions
Cancer survivor Patrick Keeley brings holistic health to forefront at Seven Hills

Diagnosis forced him to confront an often-ignored truth in the financial industry: Wealth means little without health
With grant from Patricia Saputo, new chair at U. of Ottawa to prioritize research of family enterprises