Preparing the Next Generation of Western Entrepreneurial Families

In this excerpt from La croisée (only available in French), hosted by Sébastien Nemeth on ICI Première, Justine Delisle, Partner and Division Director, Family Office Services, explains how the evolution of Western Canadian entrepreneurial families is transforming their needs when it comes to wealth management and wealth transfer. She speaks in particular to the importance of having a local presence to truly understand the realities of these families, their business environment and the unique characteristics of their region.

Justine also addresses a central issue for families seeking to preserve their wealth over the long term: preparing the next generation. She explains why education, governance, clearly defined expectations and the gradual involvement of family members are essential to ensuring a smooth transition. More than a transfer of wealth, succession also involves a transfer of responsibilities and preparation that must begin well before it becomes necessary.

HIGHLIGHTS

• The evolution of Western entrepreneurial families: how growth and wealth creation are changing their wealth management needs.
• The importance of local expertise: why understanding the culture, tax context and regional nuances is essential to properly supporting families.
• Preparing the next generation: the role of education and the gradual involvement of family members in preserving wealth continuity.
• Transferring more than wealth: why inheriting wealth also means inheriting responsibilities toward the family.
• Establishing a governance framework: the importance of defining the expectations, responsibilities and rules that will guide family decisions.
• Planning succession early: why family continuity is a long-term process that requires preparation from both the entrepreneur and those around them.
• Supporting intergenerational success: how structured planning can help preserve family continuity and harmony across generations.

This interview offers a practical look at the challenges facing Western Canadian entrepreneurial families and the importance of preparing the wealth, structures and next generations needed to support lasting intergenerational success.

Catch the full interview on Ohdio.