Dear UHNW Institute Members,
For generations, succession in family businesses and advisory firms has been framed as a simple baton pass: identify the successor, transfer leadership and move forward. But the enterprises serving and created by ultra-high-net-worth families today are far more complex. Ownership is broader, leadership expectations are evolving and the next generation often brings diverse skills, perspectives and ambitions. Succession is no longer a moment in time—it is an act of design. The architects of tomorrow are rethinking how firms, family offices and family enterprises structure leadership, cultivate talent and align culture with a new era of client and family needs.
Last month, The UHNW Institute explored the theme Passing the Baton: Navigating Leadership and Generational Transitions in Firms and Families. This month, we dive deeper by exploring the work of a team of Institute experts as they think beyond the baton toss and instead design structures that enable a broader participation in ownership, leadership and stewardship while maintaining coherence around a shared purpose.
A Blueprint for Multi-Generational Success: Building a Coalition of the Willing, a white paper conceived by Institute faculty, explores a different model for the future of succession. Rather than relying on a single successor, the paper introduces the concept of a “Coalition of the Willing”—a governance and leadership approach that expands the traditional “Four Rooms” framework into a more dynamic architecture designed to accommodate diverse capabilities across generations.
This shift—from one leader to many contributors—requires what the authors call a Coalition Mindset. Families must clarify shared purpose, balance differentiation with integration and develop governance practices that support collaboration rather than control. While concerns about complexity or decision-making are common, families that embrace this approach often unlock the full range of talent within the family system.
Join the authors for the Roundtable, A Blueprint for Multi-Generational Success: Building a Coalition of the Willing on March 26 at 3:30 PM ET, a conversation exploring the practical frameworks and questions that can help families and advisors design leadership structures built to endure across generations.
And dive deeper into the Coalition Mindset as the authors discuss their model in The UHNW Institute Podcast, a 2-part series this month with our host and co-author of the white paper, Russ Haworth.
Why Adopt a Coalition Mindset?
By embracing this ‘Coalition Mindset’ the authors posit that families can:
- Align around their shared purpose, enabling owners to strengthen their family glue and come together to envision and plan for the future of the business.
- Leverage their collective strengths by bringing unique perspectives, experiences and skills to the table and improving the quality of their decision-making.
- Foster collaboration and shared decision-making, promoting a more inclusive and democratic approach to governance, where different voices are heard and valued, leading to insights that may otherwise be missed or overlooked.
- Prepare next-generation leaders, providing them with opportunities to develop the necessary skills, knowledge and experience to contribute to the business and take on a variety of critical roles.
- Ensure continuity and adaptability, involving multiple family members in the leadership and governance of the business, allowing for smoother leadership and ownership transitions over time and lowering the risk of relying solely on one individual.
- Promote family harmony and engagement through their participation, where individuals have something to gain from the collaborative process and gain agency from having a voice in the process.
Learn more about the Coalition Mindset and Building a Coalition of the Willing by exploring the following UHNW Institute Resource Library resources to support this month’s Architects of Tomorrow theme.
The Authors
Paul Edelman, Family Enterprise Advisor, Edelman Coaching
Paul Edelman, PhD, is a family enterprise advisor who helps families and their advisors navigate complex decisions, governance challenges and intergenerational leadership transitions. His work blends developmental insight with practical experience to build capability and confidence across generations.
Russ Haworth, Founder, The Family Business Partnership
Russ Haworth is an advisor to family businesses and family offices, working alongside families to help them navigate the complexity of ownership, governance, transition and decision-making across generations. He combines his work as a consultant, facilitator and coach to create thoughtful spaces for dialogue, clarity and progress, supporting families to make better decisions together and build foundations for long-term flourishing.
Bryn M. Monahan, Senior Consultant, Relative Solutions
Bryn Monahan is a Family Enterprise Consultant with Relative Solutions, advising enterprising families on governance, leadership, succession and shared decision-making at moments of complexity and transition. Her work focuses on helping families navigate the human dynamics of ownership, including clarifying roles, strengthening communication and building structures that support continuity across generations. Bryn serves on the Boards of Directors of Foster Holdings Inc. and FAM Legacy Solutions, and previously chaired 5/4ths, a family investment group. She is an active contributor to the field through her involvement with the Southeastern Family Office Forum (SEFOF), StoryKeep, The UHNW Institute and as a moderator for Campden Education’s Becoming Responsible Stewards of Family Wealth. She holds a BA in Psychology from Skidmore College and an MBA in Family Enterprise and Entrepreneurship from Louisiana State University, and was inducted into the SEFOF Hall of Fame for her contributions to the family enterprise field.
Amelia Renkert-Thomas, Founder, Renkert Thomas Consulting LLC
Amelia Renkert-Thomas is the founder of Renkert Thomas Consulting LLC, the author of Engaged Ownership: A Guide for Owners of Family Businesses (Wiley, 2015), and Professor of the Practice at Kenan-Flagler Business School, University of North Carolina at Chapel Hill, where she teaches Family Business Ownership and Governance. She chairs the Leadership and Transition Planning Domain of The UHNW Institute. Renkert Thomas Consulting LLC works with family enterprise owners on issues related to strategy, ownership and governance. Amelia brings to her work multi-disciplinary training and extensive experience in governance design, business operations and strategy, estate planning and family systems and organizational development.
Daniel Trimarchi, National Lead — Family Dynamics & Governance at KPMG Australia
Daniel Trimarchi has over 17 years of international experience advising business families across Australia, the UK and Canada. As National Lead of Family Dynamics & Governance at KPMG Australia, he works closely with families, family offices and high-net-worth individuals to navigate change and complexity through tailored governance, decision-making, investment and communication frameworks. Recognized in Family Capital‘s Global Top 50 Family Enterprise Advisors, his work centers on helping families define success, manage transitions and build structures that strengthen both their enterprises and their relationships. He serves on several global committees and faculties within the industry and is an accredited Specialist Family Business Advisor and a full TEP member of STEP. Daniel regularly contributes to global research, whitepapers, conferences and education initiatives focused on the evolution of the business families sector.
Meredith Thomas Straight, Consultant, Renkert Thomas Consulting, LLC
Meredith Thomas Straight is a junior member and consultant with Renkert Thomas Consulting, LLC, that works with family enterprise owners on issues related to strategy, ownership and governance, with a particular focus on clarifying shared purpose to build engagement and alignment. In addition to her work with clients, Meredith also supports RTC’s undergraduate, graduate and continuing education programs through the University of North Carolina’s Kenan-Flagler Business School and Engaged Ownership, a branch of RTC dedicated to educating family business owners and their advisors on the distinctive features of family business governance. Meredith brings a background in organizational development and complex systems to the Renkert Thomas Consulting team. Much of her work focuses on the involvement, engagement and education of rising generation family members with their family’s operating businesses and family offices.
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ARTICLES | WHITEPAPER
Blueprint for Multi-Generational Success: Building a Coalition of the Willing, Part 1
Co-authored by Paul Edelman, Family Enterprise Advisor, Edelman Coaching; Russ Haworth, Founder, The Family Business Partnership; Bryn Monahan, Senior Consultant, Relative Solutions; Amelia Renkert-Thomas, Founder, Renkert Thomas Consulting LLC; Daniel Trimarchi, National Lead – Family Dynamics & Governance, KPMG Australia; Meredith Thomas Straight, Consultant, Renkert Thomas Consulting, LLC
Part I advances the governance house model, showing why and how the system must expand to serve multiple generations — adding wings, rooms, structures and practices to the existing house. This adaptive structure fosters collaboration, inclusion and effective decision-making for all generations.
Blueprint for Multi-Generational Success: Building a Coalition of the Willing, Part 2
Co-authored by Paul Edelman, Family Enterprise Advisor, Edelman Coaching; Russ Haworth, Founder, The Family Business Partnership; Bryn Monahan, Senior Consultant, Relative Solutions; Amelia Renkert-Thomas, Founder, Renkert Thomas Consulting LLC; Daniel Trimarchi, National Lead – Family Dynamics & Governance, KPMG Australia; Meredith Thomas Straight, Consultant, Renkert Thomas Consulting, LLC.
Part 2 explores what families must do to make this more inclusive and collaborative approach succeed. It calls for a revolutionary shift in governance — one that demands changes in attitudes, behaviors and practices across generations while fostering new leadership skills, management capabilities and a mindset built for a collaborative, multi-generational future.
Making Better Decisions in Your Family Business
Josh Baron, Rob Lachenauer, Sebastian Ehrensberger, Harvard Business Review. 2015
The decisions facing business families can be gut-wrenching, yet the implications of these decisions are huge for the future of both the family and the business. Using the “four room model,” the article provides a metaphor of “What room are you in?” for clarity in decision-making. This is a very readable and straightforward article suitable for giving to families to help them understand the basics of family enterprise governance.
Josh Baron, Rob Lachenauer, Harvard Business Review. 2021
This family business handbook is a great textbook by two prominent family enterprise consultants. It covers the basics needed to understand family enterprises while providing useful detail in selected areas of governance, boards and family dynamics. It is also frequently recommended by advisors to family members who are beginning their education about ownership and governance in family businesses. The handbook contains useful exercises for families to work on.
The 10×10 Learning Roadmap: Advancing Flourishing in Families of Wealth
Joan DiFuria, Stacy Allred, Stephen Goldbart, James E. Hughes, Jr. Foundation. 2024
Three experienced family wealth consultants applied strengths-based psychology, neuroscience and human development concepts to this comprehensive guide to learning and development. Ten core learning competencies at ten vital life stages provide multigenerational UHNW families with the skills they need to feel empowered throughout life.
Crucial Conversations Tools for Talking When Stakes Are High (Second Edition)
Kerry Patterson, McGraw-Hill. 2011
The first edition of Crucial Conversations revolutionized the way millions of people communicate when stakes are high. This new edition gives the tools to prepare for high-stakes situations, transform anger and hurt feelings into powerful dialogue, make it safe to talk about almost anything and be persuasive, not abrasive.
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PODCASTS
The UHNW Institute Podcast: Blueprint for Multi-Generational Success: Building a Coalition of the Willing, Part 1
Paul Edelman, PhD, PCC, Russ Haworth, Bryn Monahan, Amelia Renkert-Thomas, Daniel Trimarchi and Meredith Thomas Straight
A conversation with the authors of the Institute’s white paper of the same title.
The UHNW Institute Podcast: Blueprint for Multi-Generational Success: Building a Coalition of the Willing, Part 2
Paul Edelman, PhD, PCC, Russ Haworth, Bryn Monahan, Amelia Renkert-Thomas, Daniel Trimarchi and Meredith Thomas Straight
A conversation with the authors of the Institute’s white paper of the same title.
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VIDEO
Blueprint for Multi-Generational Success: Building a Coalition of the Willing
A recording of the Roundtable, available in April 2026 in the Resource Library.
