How a Family Business Can Build Generational Wealth
On this week’s episode of THE FINANCIAL COMMUTE, host Chris Galeski welcomes Wealth Advisor Joe Seetoo to discuss building generational wealth as a family business.
Here are some key takeaways from their discussion:
- Small businesses are the cornerstone of the American economy, and 90% of American small businesses are family owned.
- About 70% of family businesses do not get passed down to the second generation successfully. Succession is difficult because there are so many complicated dynamics to navigate. Not only are there familial relationships to consider, but employees who are not…
The skinny
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