42: The Quest for Legitimacy

Introduction Welcome to Let's Talk Family Enterprise, a podcast that explores the ideas, concepts, and models that best serve Family Enterprise Advisors in supporting their clients.   All views, information, and opinions expressed during this podcast are solely those of the individuals involved and do not necessarily represent those of Family Enterprise Canada.   Description Host Steve Legler speaks with Dr. Jamie Weiner, author of the recent book, The Quest for Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World. They discuss the challenges faced by rising generation members of enterprising families and how we as FEAs can better support our family clients by shedding light on these challenges, which are often invisible to their parents.   Guest bio Dr. Jamie Weiner   Dr. Weiner is a clinical psychologist with over 40 years of experience. In addition to his work with individuals and families, he successfully designed structured programs and systems to address the broad range of challenges people face and is credited with delivering over 100 lectures and workshops. He also has a Certificate in Family Business Advising and Family Wealth Advising from the Family Firm Institute and is the co-author of The Legacy Conversation: the missing gem in wealth planning.   You can find out more about Dr. Jamie Weiner on LinkedIn and the Inheriting Wisdom website.   Key Takeaways [:26] Steve Legler, your host for this episode, welcomes Dr. Jamie Weiner and asks him to share a little bit about how he started working on the idea of legitimacy.   [5:17] Dr. Weiner shares how the interview process for his most recent book went and how his reputation enabled a long list of warm introductions.   [6:55] From a bunch of interviews to a university research project, Dr. Weiner shares how he met Frank Barbera in an elevator.   [8:00] An econ-sociological analysis of the data uncovered a four-phase journey — or Quest — that is universal to all rising gen members: awareness, tug-of-war, exploration, and taking ownership of your life.   [10:59] The non-linear nature of the phases, as explained by Dr. Weiner.   [12:51] How can advisors use the information in the book to better reach the rising gen? Dr. Weiner shares the two things the "now" generation doesn't understand.   [16:33] Dr. Weiner shares a butterfly story as an allegory for harming while trying to help.   [18:43] Affluenza as a damaging concept.   [22:29] The true stories that populate the book find a way to speak to everyone, even J. Hughes!   [26:00] Creating opportunities to have discussions is a critical part of the advisory service — courage also!   [29:10] Dr. Jamie shares his book recommendation as well as his advice for advisors.   [30:58] Steve thanks Dr. Jamie Weiner for coming on the show to share so much insight with the audience.   If you enjoyed today's episode, you can subscribe to Let's Talk Family Enterprise on Spotify, Apple Podcasts, or other podcast app. Please remember to share this episode with family, friends, and colleagues.Share your thoughts with us at [email protected].   Mentioned in this episode The Let's Talk Family Enterprise podcast is brought to you by Family Enterprise Canada. Inheriting Wisdom The Quest For Legitimacy: How Children of Prominent Families Discover Their Unique Place in the World, by Jamie Weiner   Reading recommendations: Man's Search For Meaning, by Viktor E. Frankl   More about Family Enterprise Canada Family Enterprise Canada (FEC) FEC on Facebook FEC on Twitter FEC on LinkedIn