Episode 71: Rebecca Gooch on Succession Planning and the Family Enterprise Boom

R. Adam Smith is joined by Dr. Rebecca Gooch, Global Head of Insights at Deloitte Private, for a data-rich look at the modern family enterprise. Rebecca shares research on the rapid growth of single family offices worldwide, the revenue outperformance of family businesses versus non-family peers, and the generational transition now reshaping succession planning across the industry. The conversation also covers technology adoption, AI, and the rising cybersecurity risks facing family offices and family businesses alike. Rebecca offers a global perspective on how sophisticated families are building governance structures, human capital strategies, and long-term thinking to protect wealth across generations.00:00 Welcome and episode introduction01:17 Introducing Rebecca Gooch of Deloitte Private02:53 The rapid rise of the modern family office04:20 Regional breakdown of family office growth04:50 Family office AUM projected to hit $5.4 trillion07:37 Family businesses make up 22% of global firms08:39 Family business revenue growth versus non-family firms09:33 Why long-term thinking drives outperformance12:08 Succession dynamics and culture across Asia14:44 The generational wealth transition underway15:40 Why 41% of families lack a succession plan18:25 CEO age and the coming leadership shakeup19:16 Private equity, IPOs, and sales as succession options20:17 Deloitte's family office and family business research series22:29 Technology adoption inside family offices23:32 AI adoption rates in family businesses24:40 Cybersecurity risk facing family offices26:18 What a cyber attack actually looks like27:23 Family business exposure to cyber attacks29:31 Encrypted data storage and vendor safeguards32:01 Rebecca's favorite part of her work