Will, Harper, and Nora Lee Dawson are heirs to a vast Southern empire. But when their father dies without a will and their calculating mother disappears, the family’s motto becomes a curse. Do they “Protect our assets? Trust nobody?”
Threats include legal ambiguity, AI manipulation, cyber predators, bizarre beneficiaries, and new advisors with contradictory expertise. To unlock – and protect- their family legacy, the siblings must develop new powers that their parents never taught them: Hope. Agency. Resilience. Optimism.
They have to do what they’ve never done before— trust each other.
FREE access is at https://action-learning.com/product/legacy-locked-book/. Use the coupon code crubne3q
Legacy Locked is more than a novel.
It’s a journey into the forces that shape what we inherit… and what we hide.
Gift #2: Download Legacy Locked book now. While it’s still free. FREE access is at https://action-learning.com/product/legacy-locked-book/. Use the coupon code crubne3q
Because the only thing scarier than a locked legacy… is never knowing what was inside.
Artificial intelligence dominates headlines with promises of revolutionary change, so it’s easy to feel overwhelmed by the noise. But beneath the hype and buzzwords lies tremendous value that can be applied immediately—particularly for family business leaders, Next Gens and smaller organizations.
Cutting Through the AI Noise
There’s a lot of “hoo-ha” around artificial intelligence today. Open any business publication—Harvard Business Review, McKinsey reports, VentureBeat, or Forbes—and you’ll find endless articles about AI’s utility, examples, and trends. Terms like “predictive analytics” get tossed around without clear definitions. Can we truly predict the next word in a sentence or the next market opportunity? There are tools like Lex Machina and Bloomberg Law that can forecast divorce or succession risk. But should they do so? The ethical clarity isn’t always there.
What we call “artificial human intelligence” are essentially algorithms—compilations designed to anticipate the next word. You’ve experienced this already: when you type “How do I…” into a Google browser, it fills in the likely next words, based on your search history. This predictive capability has evolved from simple sentence search completion to sophisticated tools like Microsoft’s Copilot that can generate content, edit documents, and create personalized interactions. AI learns from itself, which is why the default browser for Google has recently been replaced by Gemini.
The Rise of Customized AI
One of the most powerful developments is the ability to create customized AI systems. I’ve built what some call a “closed chat GPT”—an AI trained on my books, dissertation, research papers, blog posts, and website content. I call it “Gray Matters” and share it with my clients. When asked, “How would Doug respond to this situation?” it provides evidence-based answers drawn from that data set. Crucially, you can configure these closed systems to maintain confidentiality, which prevents your data from being shared with large language models.
Small business leaders can leverage this same technology. If you need to maintain client confidentiality for legal reasons but want to provide unique value to those clients, a closed AI system offers a perfect solution. This fact explains why there are so many chatbots on company websites—they’re cost-efficient and can provide consistent service 24/7. Do you need to invest in Schwab or Fidelity or Vanguard? Then you need to interact with bots before humans.
Digital Trust and Consumer Adaptation
Remember when Amazon first introduced Prime? Many doubted that package would succeed. Now one-click purchasing and “people like you bought” suggestions have become standard AI tools. These weren’t implemented randomly—they were based on extensive data analysis showing that buyers of one product were likely to purchase related items.
This example reflects a broader trend: we have developed increased digital trust in AI tools. Think about how you interact with Siri or Alexa—as if there’s another person in the room. These AI assistants weren’t part of our lives a decade ago, yet now they’ve become integral to our daily routines. Our expectations around AI are also shifting—we expect it to be personalized, always available, and worthy of our digital trust.
Accelerating Leadership Development
For the past year, I’ve focused on how AI can accelerate leadership development. The implications are profound for any individual or team committed to professional development. We can now provide 24/7 utility to confidential resources and interactive learning opportunities using AI avatars based on customized role-plays and scenarios.
Imagine clicking on ChatGPT repeatedly to gain insight into difficult topics: How do I deal with anxiety? How do I sleep better? How do I have a difficult conversation with a family member who’s resistant to dialogue? Now, these are skills that can be developed through deliberate practice.
Years ago, when I asked Google, “Can you be my executive coach?” it said “Not at this time.” Today, any AI platform—whether it’s ChatGPT, Claude, Grok, Poe, or another—will happily take on that role.
Our Hybrid Coaching Solution
AI can re-design executive coaching, leadership consulting, and transform your career. Imagine using hybrid coaching that combines AI practice with human expertise. Let me give you some examples.
A client named George wanted to develop better communication skills but didn’t want to ask his manager for help. Using our AI platform, George practiced difficult conversations repeatedly in a confidential environment. Then, when we meet for our 1:1 executive coaching session, George can share his screen and show me his AI interactions. I can provide feedback not just on the content of his responses but on his approach to learning.
This hybrid model works across professions. Imagine you’re a lawyer with clients who need to discuss succession planning, or a family wealth advisor helping clients prepare for difficult conversations with the next generation. These discussions require skills that many people haven’t developed. Behavioral feedback can provide better analysis and coaching suggestions than humans. When we practice new skills with AI, my clients can find the right words and approaches before having those crucial real-world conversations.
B2C and B2B Applications
I’ve developed two models for implementing hybrid consulting:
B2C (Business to Consumer): Individuals can access a platform to practice scenarios like dealing with anxiety, burnout, difficult family members, or deeper questions about purpose and faith. For about $100 monthly ($1,200 annually), users get unlimited access to AI-assisted practice scenarios. That investment often delivers more lasting value than a couple of traditional coaching sessions at the same investment level. See www.JITCoach.com or ask for a demo.
B2B (Business to Business): Teams and organizations can implement AI-assisted consulting to accelerate skill development. The data is compelling—sales teams using these approaches have shown a 24% increase in sales performance and 97% improvements in training retention. Compared to traditional online training programs that often show minimal results, this AI-assisted consulting represents a breakthrough. See www.Action-Learning.com or ask for a demo.
The Bottom Line
Artificial intelligence has been evolving since 1995. Now we have reached a point where it’s more consumer-friendly and accessible than ever. Just as you talk to Siri or use ChatGPT, you can now use AI-assisted consulting tools to accelerate your skill development, improve communication, and achieve outcomes faster, more effectively, and more affordably.
We will interact with AI-driven cars and live in an AI-enhanced world. Why wouldn’t we apply these same technologies to leadership development and executive coaching?
Want to learn more about implementing AI in your leadership development? Contact Doug at doug@action-learning.com or visit action-learning.com to schedule a demo.
He stood there for so long that a gigantic security guard said, “You can’t just stand here.”
No response.
Then the guard said, ” If you don’t move along then I’ll have to fine you $100.”
Still no response.
Then the guard said, “What are you doing here? Where are you going?”
The positive psychologist smiled and said, “How about if I pay you the $100 and come back next week? I want you to ask me those two questions week after week.”
And so began the history of professional coaching…
Yes, you can define a meaningful outcome for yourself!
Based on my research, here are the top outcomes for business coaching. Pick one or two.
Top business coaching outcomes:
o Banking and financing
o Board of directors/advisors
o Branding
o Change management
o Communication skills
o Compensation and benefits
o Computer security
o Conflict resolution
o Customer service
o Ethics
o Insurance / risk management
o Leadership assessments
o Managing growth
o Managing others
o Marketing
o Net profit
o Operations
o Personal finances
o Personal health and well-being
o Presentation skills
o Safety/ workers compensation
o Sales
o Talent development
o Time/energy management
Now what?
Find someone who can ask you those two questions: “What are you doing here? Where are you going?”
The Future of Family Offices: Why Multidisciplinary Teams Are Essential
The goal of every family office is the same- to serve the financial and capital needs of current and future generations. However, the process is changing.
We will always require attorneys and wealth advisors to “stay in their swim lanes” and practice compliance. That will never change. Those silos are necessary, but NOT sufficient. Today, cross functional teams of interdisciplinary advisors are collaborating and providing external expertise.
Recently I was asked to create video recordings for a multi-family office (MFO) with over $1B in assets under management. They wanted me to share succession planning advice with their 80+ clients. Last week I talked with my new friend, Charmaine Tang, CEO of Orca Americas, about the need for people and technology to model innovation for family offices. Also last week I invited Brannon Fisher, a MFO partner, to share advice with our Next Gen Peer Group leaders when we met in Denver. Minutes ago I spoke with Bradley Franc, CEO of Succession Strategies, who said, “We don’t do what you do. We should partner.”
Notice the pattern?
We all have such meetings, because we all serve the current and future needs of our clients.
I can only imagine that such collaboration will accelerate. There is a growing trend toward building multidisciplinary teams within large family offices. Those internal teams may include specialists from various fields together to collaborate and provide comprehensive advice. Naturally, each advisor brings unique legal, financial, or relational expertise. Every smaller Family Office needs to do the same. They need to develop external teams of expert advisors. The power of multidisciplinary collaboration lies in our ability to address the full complexity of family dynamics and wealth management.
Wealth advisors, thankfully, are focused on maximizing assets for long-term gain. Attorneys and insurance advisors focus on protecting assets and minimizing risk, thankfully! Both roles are critical and are NOT sufficient for Next Gen leaders who expect more transparency, digital access, and opportunities to learn.
Family Offices, like any social organization, need to evolve. Every aspect of the family’s wealth or legacy deserves expert advice.
Navigating Intergenerational Conversations
Consider a typical family office meeting: the Elder Generation is planning for retirement and succession, while the Next Generation is learning about investments and long-term financial planning. In the middle, a team of advisors—legal, economic, and often behavioral psychologists (like me) —helps facilitate the conversation.
These discussions may be delicate. The Elder Generation needs to learn to bite their tongues. They need to encourage the Next Generation to ask questions about access to funds, investment strategies, and their personal goals.
For younger family members, these meetings present an opportunity to learn about critical topics like compounding interest, wealth distribution, and long-term planning. I’ve been facilitating a series of family meetings with three Elders, five Next Gens, and three wealth advisors from Northern Trust. By the end of the last session, the Elders were beaming with satisfaction. A multidisciplinary team ensures that these meetings are not just about financial details but about fostering open, constructive dialogue across generations. Advisors from different fields can help ensure that the right questions are being asked and that all voices are heard.
The Expanding Role of the Family Office
Family offices have historically focused on wealth management—handling investment portfolios, estate planning, and tax strategies. But the role of the family office is evolving faster than ever. Many family offices are expanding toward a more comprehensive model that addresses both financial and Family Capital.
The Family Capital Model includes five key areas:
Health and well-being
Family governance and decision-making
Succession planning and education for the next generation
Family dynamics and interpersonal relationships
Risk management, both financial and relational
This expansion reflects a broader understanding that to preserve a family’s legacy, the focus must be on the whole family, not just its financial assets. How do Family Office leaders support that broad need? With timing and expertise.
The Importance of Multidisciplinary Collaboration
Timing matters. Bringing in the right expertise at the right time is critical for any family office. A well-rounded team of advisors can ensure that a family’s needs—whether related to wealth, legal matters, or family dynamics—are met efficiently and effectively. When a Family Office relies solely on financial experts, it risks overlooking other vital family legacy elements. A multidisciplinary team mitigates this risk by ensuring that all aspects of the family’s life and legacy are considered in decision-making processes. Quarterly meetings work well. An annual cadence of ownership meetings is a minimal requirement.
Expertise matters. Advisors from different disciplines often approach problems from unique perspectives. After years of formal schooling, credentialing, and serving similar clients, those perspectives are reinforced and they bias every advisor. Thankfully! Think of any trigger event, like the sale of an asset or death of an Elder. Financial advisors are adept at identifying the right moments—like liquidity or birthdays or significant life milestones—to reassess strategies. Legal and insurance advisors ensure that these strategies are sound from an asset protection or risk management perspective. Family psychologists or governance consultants may facilitate conversations around succession planning, interpersonal relationships, and decision-making structures. Nothing is more crucial.
Today, more than ever, families face complex challenges beyond financial management. We all require a team that can holistically serve our needs for expertise in health, wealth, and relationships.
Embracing the Complexity
Let’s assume that Family Offices will play an increasingly important role in managing wealth and the complex needs of families. The sheer scale of assets expected to be transferred between generations in the next decade—estimated to be over $80 trillion USD – makes succession planning and Next Generation leadership development essential priorities for Family Offices. That’s why our team partners with Family Offices. People need our 360 assessment process to confirm who has leadership capacity and what behaviors to develop. People need our Peer Groups to improve communication, reduce conflict, and reduce anxiety about succession.
Let’s also assume that technology will also play a more significant role. Advanced tools, from AI-driven assessments to virtual platforms for family collaboration, are already being used to enhance family governance and communication. Can you imagine a hologram with your 100-year old Elder or Founder in a discussion? Can you imagine 5 generations of family in a meeting, rather than 2-3 generations, as a result of enhanced lifespans? Those technologies will never replace the need for human expertise. Curiosity and humility can never be replaced by AI, and those are two competencies worth developing in most family systems.
Preparing for the Future
To navigate this evolving landscape, Family Office leaders must ensure that their teams can handle both financial and family capital needs. Multidisciplinary teams are not just a trend—they are becoming necessary for Family Offices looking to sustain their success across generations. External advisors provide scaled solutions and reduce costs.
For advisors who serve Family Offices, now is the time to evaluate whether your advisory team is comprehensive enough to address the full range of family needs. Are you prepared to guide your clients through complex psychological and social transitions?
If not, consider expanding your advisory network to include experts who can help you address the evolving challenges facing family offices today. We can help.
In this episode: Rod Zeeb & Doug Gray, Co-Founder of Assess Next Gen and a Consultant with The Family Business Consulting Group, discuss trends in both qualitative and quantitative assessments that are available, information for access to the assessments, and collaborators to help you if you need it.
There is plenty of nonsense from online extremists. I’m sick of it. You may be frustrated too.
One of my clients said, “I’m just paralyzed. I’ve submitted my PPP application to Wells Fargo because I trusted them to deliver. Now they say I should consider a new bank. I don’t know who to trust.”
Another client said, “We have adopted new norms for remote work. Everyone has a laptop with a secure virtual private network (VPN). But, people are late for meetings. WebEx doesn’t work. We get interrupted by crying children and barking dogs. Our deliverables are down 20% in 3 weeks.”
That’s why I want to give you these 6 great resources:
As a species we have always adapted to aversive stimuli with resilience. 100 years ago over 600,000 people died as a result of the Spanish Flu Pandemic. Our grandparents survived. 100 years from now we will have new global health protocols. You and I will not be alive, but our children will learn from our work today. Resilience defines us. We can adapt. Some great resources are at the Greater Good Science Center.
Teams are stronger than individuals. They always have been stronger. Consider any project team, family team, virtual or direct team… Teams will always will be stronger because teams provide different perspectives, tension, innovation, results. Social isolation leads to anxiety and depression, and kills more people than cardio-vascular disease, obesity and smoking. Combined. Lately I have been calling at least 5 old friends every day. Physical isolation is critical. Social isolation occurs when we do not reach out to one another. Some great free resources are here. You can strengthen your teams today.
Networks of teams are stronger than individuals. Networks look like spiderwebs or a map of your favorite highways. Networked organizational maps make it possible for anyone to be a leader. One good article on the road ahead using networks of teams is from McKinsey. It’s worth sharing with your teams.
The road ahead is paved with new leaders, from many networks. Consider recent examples of healthcare leaders like your local physicians and nurses, or Dr. Anthony Fauci. Consider thousands of leaders in education who quickly migrated course content online and are encouraging songs across the physical distance. Leaders emerge when teams practice using OKRs. Objectives and Key Results (OKR) increase accountability and engagement, especially with over 50% of the workforce who are millennials. Recently, over 20% of the U.S. workforce has lost their job or is underemployed. Please share this link from my newest book with anyone in a career transition. For anyone interested in learning about OKR Leadership, please share this link to chapter 1 in audio or digital format. You may be a great leader for your loved ones.
We finally have a new language to describe our virtues and character strengths. Over 7 million people use the language of signature strengths to describe themselves or others “At your best.” For the past two years I have listed my signature strengths in my email signature as a small experiment. I strongly recommend that you take the free VIA assessment here and practice developing your strengths daily. When we leverage our strengths, then we are more capable of flourishing. The science and practice of character strengths has gained momentum during this pandemic, because people want to know, “What really works?”
Recent Comments