Author: davidwerdigertransitions

David Werdiger, writer, speaker, adjunct professor, revolutionized cloud-based recurring billing as he migrated from his second-generation family business to C-level technology growth company roles. He is a frequent speaker at International Society of Private Wealth Network events, presents case studies at private HNWI events, and public national conferences. Werdiger is a #1 International Best-Selling author of the book ‘Transition; How to Prepare Your Family and Business for the Greatest Wealth Transfer in History’ and Founder of the Nathanson Pearson Family Office in Melbourne Victoria Australia. Today Werdiger works from the #nextgeneration of EY Family Office Guide 2019 as the bridge between generations through The Nathanson Pearson Family Office Advisory. Utilizing technology tools like his exclusive Business Succession Risk Assessment (BSRA) programs and his Bridge Between Advisory Services (BBAS). Learn more about David Werdiger and his Programs of excellence at and on social networks @dwerdiger and @davidwerdiger.https://davidwerdiger.com

More darkness; more light

davidwerdigertransitionsLeave a comment
Our menorah, tonight

We just lit Hanukkah candles here in Melbourne, and as we sang the traditional Hanerot Hallalu song, we all broke down in tears. Just a couple of hours ago, our brothers and sisters in Sydney, celebrating Chanukah at Bondi Beach, were gunned down. We personally know some of those shot and killed. We’re in shock.

As we begin the festival of light, the world has become darker.

Yet again, we are shocked but not surprised. People have been saying for months that a terrorist attack with mass casualties in Australia was inevitable, and now it has happened. Our government has shown by their (in)action that they don’t care about us.

Expect the usual mealy mouthed (*#&$^ from our Labor politicians over the next few days, and a heavy dose of both-sides-ism: Hatred of any kind has no place in our society. We can’t act on the antisemitism recommendations until we also act on the Islamophobia recommendations. Yeah, yeah. Heard it before, many times. Will hear it again, and again.

But enough politics. What can we take from this?

Firstly, to those non-Jewish business associates who reached out with messages of support: with tears in my eyes as I write this, I cannot thank you enough. Knowing there are people who genuinely care for what has happened and continues to happen to the Jews in Australia means so much. You are a shining light.

Secondly, the juxtaposition with the festival of Hanukkah carries a strong message. On Hanukkah, it’s not enough for us to light candles each night in our homes. An essential component of the mitzvah is pirsumei nissa – publicising the miracle. Whether it’s Hanukkah celebrations on the beach, or in the park, or menorahs on cars everywhere, we display our Judaism proudly. We don’t cower or hide.

I wear my kippah proudly in the street. Yes, it leads antisemitic comments from haters. But they can get *&^#$ed. Not only won’t you stop me from proudly displaying my Judaism, you only strengthen my resolve – and our resolve as a people. We’ve been doing this for thousands of years, and nothing has stopped us, and nothing will.

Our Rabbis teach: “a small amount of light deflects a large amount of darkness”. The world is darker tonight with the tragic murder of innocents celebrating Hanukkah at the beach. Please respond by lighting Hanukkah candles this year and remaining proud and strong in your Judaism.

Am Yisrael Chai!

This post is originally posted at The Times Of Israel.

The post More darkness; more light appeared first on David Werdiger.

source https://davidwerdiger.com/blog/death-mourning/more-darkness-more-light/

A Prophet in Your Own City

davidwerdigertransitionsLeave a comment

For many years, I thought ‘Jesus’ was the answer.

The question was: who first said “one cannot be a prophet in their own city”?

Because the statement is first recorded in the New Testament and associated with Jesus, people think he first said it. But if you dig deeper, the style is inconsistent with his other teachings, and the context indicates that it’s actually a quoted piece of ancient wisdom.

The earliest source I’ve found is the 4th century BCE Greek playwright Menander, who wrote: “No man is esteemed by those who knew him from the cradle”. I’m still looking.

But enough of the history lesson.

What does it have to do with intergenerational wealth?

Everything.

In families more than anywhere else, context is everything.

When business families sit around a board table ostensibly to make business decisions, it’s very easy for them to switch back to ‘kitchen table’ dynamics.

Relationship issues that have been there for decades – between parents & children, between siblings – can be the elephant in the room.

A human resource discussion regarding the suitability of a family member for a certain position in the family business may actually be a proxy for who is Mum’s favourite child.

And while a family member may be accomplished and knowledgeable, they may be viewed as that youngest spoilt brat whose opinion never counted for anything.

I lived this.

And I see it all the time in the families I work with.

One can’t be a prophet in their own city.

There is too much baggage.

Someone will always remember your humble beginnings (and remind you of them).

This is why:

  • It’s a useful policy for family members to get outside experience and accreditation before joining the family business
  • Outsiders are often needed to facilitate family discussions

 

Getting outside experience can help mitigate the “own city” bias. It demonstrates that the family member can make it somewhere else on their merits.

That can be as important for the family member themselves as for the family.

While I grew up around a family business and worked there as a student, I needed to get a job elsewhere. It was about proving to myself that I could get a job using what I knew, rather than whom I knew.

When it comes to family meetings, external facilitators help in many ways:

  • Family members are on better behaviour in the presence of outsiders
  • Mediating the power dynamics in the room
  • Ensuring everyone follows an agreed code of conduct and has a voice
  • Helping the family have focused discussions that lead to good decisions

It’s hard to do this as a family member.

For my immediate family, we engaged someone else, despite knowing exactly what we needed to do and how to do it.

I tried with my wider family and sadly, was unable to help.

That’s what drives me to help other families.

To be their prophet from another city.

 

Conversation Starters:

How do you take a comment about family business from a family member differently from an outsider?

Who are the ‘prophets’ in your family whose opinions have been rejected?

How have external advisors helped your family?

Further Reading

Even The Ultra-Rich Stink At Talking About Money With Their Heirs
How intergenerational advisory teams are managing the great wealth transfer
The dynasty dilemma: Secrets to balancing family and external leadership in family businesses
The loneliness of the next-gen family member: The challenge of finding purpose
Tips for engaging siblings not in the family business
The art of ‘heavy’ conversations as an advisor
Finding a purpose for family wealth during uncertainty
Sun Tzu’s The Art of War: Two Teachings for Family Advisory
The family office next-gen sandwich: Keeping generations together
When Your Family Business Has a Conflict Over Governance
Why Governance — Not Growth — Will Define the Next Era of Family Offices
More family offices adopt constitutions — but don’t always use them

The post A Prophet in Your Own City appeared first on David Werdiger.



source https://davidwerdiger.com/family-governance/a-prophet-in-your-own-city/

Should the kids fly business class?

davidwerdigertransitionsLeave a comment

People ask me this regularly, and it’s a tough one.

The family is travelling together, and the parents usually travel business class. The kids are old enough to look after themselves on a plane, but where should they sit?

Some years ago, my parents, my wife and I, and a few of our children (then aged 10-15) happened to be booked on the same 15-hour flight home. The three generations of our family mapped to the three classes of travel on that plane.

Some families ask: “what’s the right thing to do here?” to which I respond that there is no right or wrong; there are only consequences. Start by accepting this and therefore seek a policy that is right for your family, and one where you consider the consequences – intended and otherwise – of the policy.

Let’s also assume for these purposes that it’s not a financial decision – “can we afford this?” Rather the decision is “should we spend money on this?”

That gives the decision a strong moral or ethical lens, which suggest that it should be driven by the family’s values.

The other factor to consider is communication: how any policy will be explained to the stakeholders (who may not be the decision-makers).

Here’s a good question to prompt the family discussion: what family values would underpin the decision to have the kids fly business class? Or not to?

The ‘yes’ case: Pleasure, Prosperity, Fairness, Success, Enjoyment, Belonging

The ‘no’ case: Self-control, Moderation, Responsibility, Prudence, Discretion

These values examples are ones that I think might support an argument either way. This is not something to be taken as prescriptive and is very subjective.

The choice of values to support each case is two-fold: the values that the family chooses to live by, and the values they would like to model for future generations (and we’d like to think they are the same).

This is where the communication piece comes in. Whatever the family decides, it needs to have a fair and justifiable answer to: “why can’t we fly in the front of the plane with you?”

It’s essential not to lie when answering questions like these. Both you and the kids know that “we can’t afford it” is not true. While other phrasings like “it’s not a responsible use of money” might be more correct, they may not be sufficient to close the debate. It can be helpful to workshop the potential family discussions within the decision-making group, so you are ready for the tough questions.

Families often express concern about “spoiling” children, and that concern is genuine. Some families choose to limit financial support for kids between certain age ranges (e.g. 18-30) so they can learn the values of hard work and fiscal prudence. Once those lessons are learned, access to family capital is far more generous.

This is why shared values articulation is such a foundational piece in any work I do with families. It makes for better quality decision-making, as well as decisions that are readily explained and justified to the wider family group.

Conversation Starters:

What does your family wealth do to improve your lives?

What policies do you have for how family wealth is deployed for the benefit of family members?

Which family members decide on those policies and how?

Further Reading

What It’s Like to Grow Up With More Money Than You’ll Ever Spend
Intergenerational wealth transfer is a family affair
Wait a Minute. How Can They Afford That When I Can’t?
Is it time for inheritance to end in favour of spending it yourself?
Are UHNW families too discreet for their own good?
What Should You Do After You’ve Won Powerball Or Mega Millions?

The post Should the kids fly business class? appeared first on David Werdiger.

source https://davidwerdiger.com/ultra-high-net-worth/should-the-kids-fly-business-class/

The Daniel Karim Podcast: The Commandments of Wealth

davidwerdigertransitionsLeave a comment

In this episode, David joins Daniel Karim for an inspiring and deeply personal conversation about wealth, legacy, and the human purpose behind it all. From his beginnings in a family business to becoming a family enterprise advisor, tech entrepreneur, and best-selling author — David shares the lessons, challenges, and values that shaped his philosophy on family, business, and life itself.

It’s an insightful discussion that goes beyond money — diving into what it really means to build something meaningful and lasting across generations.

Watch the full episode here

The post The Daniel Karim Podcast: The Commandments of Wealth appeared first on David Werdiger.

source https://davidwerdiger.com/events-news-media/interviews/the-commandments-of-wealth/

Horizons: Equal vs Fair

davidwerdigertransitionsLeave a comment

By David Werdiger
Published in Horizons: Family Office and Investor Magazine | Issue 11 | October 2025

The article challenges the common belief that treating everyone equally is the same as being fair. David Werdiger highlights that in family wealth and succession planning, strict equality can unintentionally create resentment or imbalance. Instead, he emphasizes fairness through process—understanding each family member’s unique needs, involving them in transparent discussions, and building shared trust.

Ultimately, the piece reframes fairness as a relational concept rather than a mathematical one. It’s not about dividing wealth evenly, but about maintaining harmony and respect across generations through empathy, communication, and inclusion.

How does your family define fairness?

Read the full article:
Equal vs Fair — Full Article

More Horizons issues & newsletter:
Opalesque Horizons Archive
Subscribe to Horizons Newsletter

The post Horizons: Equal vs Fair appeared first on David Werdiger.

source https://davidwerdiger.com/events-news-media/press-releases/horizons-equal-vs-fair/

Wealth Is As Wealth Does

davidwerdigertransitionsLeave a comment

Q1. “What would you like to do?”
A1. “I’ve worked hard to build this wealth; I want it to stay in the family for generations.”

Q2. “What good will it provide the family?”
A2. “Hmmm … not sure.”

 

This kind of exchange between client and advisor happens all too often. The first instinct of the G1 is that the wealth should be “preserved”. And this preservation needs to be long term – for generations.

That in turn leads to discussions about structuring and asset protection, and about investment strategies and asset allocation.

But something really important is missing.

My late father would tell me from time to time: “I don’t need to work anymore. I’m building assets for the future.” What he said was 100% correct. But there was never any discussion about what the future looked like or when it would happen.

 

Discussion like these have things backward.

 

To paraphrase Forrest Gump’s mother: “wealth is as wealth does”.

It’s not about having or preserving the wealth for generations, it’s about how that wealth will make a material impact on the lives of your family and the world around you. What are you actually going to do with it? And how will that achieve the goals you have for your family?

 

What does this mean in practice?

Working with a family heading towards a wealth transition, I developed “the 40 year plan”. The premise was simple: the G2 will receive X; what to do with it?

Rather than a plan of how to invest it, we started “below the line” – with expenses. What would it be used for? Helping the kids with education & housing, lifestyle & wellbeing support, family holidays, philanthropy.

That’s the important stuff. That’s what it’s for. So that’s where to start.

We modelled the family’s expenses over 40 years, and then worked backwards: in order to support those outflows, what target return (after inflation) would be required?

That was one key input into the investment strategy.

 

This is essentially a tactical business plan that answers the question: “what is it for?”

That question can be answered by doing a values articulation exercise with the family, then agreeing on a set of shared values and purpose that drives decisions. This is my preferred way to work with families. But whether or not they choose to work with a values foundation, the tactical execution is essential.

 

In one case, this approach helped answer an important question: do we keep it together or split it up? The family came up with an innovative solution. Only a small core remained together – enough to fund education and regular family holidays. The rest was split between the G2s to give them the autonomy to invest and use as they wanted, rather than be bound together.

 

Thinking in practical terms like this can help families strike a health balance between the present and the future.

 

Conversation Starters:

What does your family wealth do to improve your lives?

What policies do you have for how family wealth is made available for the benefit of family members?

 

Further Reading

Is Your Financial Success Leading to Your Family’s Failure? 5 Signs It Could Be
Why You Should Manage Your Wealth Like A Business
4 Wealth Planning Considerations For Clients With Illnesses Or Disabilities
5 Huge Lies About Generational Wealth
7 Proven Strategies to ‘Winning’ the Great Wealth Transfer
How can I talk with my teenager about wealth and purpose?
Intergenerational Wealth Shifts and the Power of Ikigai

The post Wealth Is As Wealth Does appeared first on David Werdiger.

source https://davidwerdiger.com/wealth-transition/wealth-is-as-wealth-does/

Power Maps

davidwerdigertransitionsLeave a comment

In this episode, Russ Haworth engages with Betsy Erickson and David Werdiger to explore the intricate power dynamics within ultra high net worth families. They introduce the concept of the Power Map, a tool designed for advisors to understand and navigate the various sources of power within family structures.

The conversation delves into the roles of advisors, the importance of cultural competency, and the evolving landscape of wealth management, particularly in the context of generational transitions and the shift towards a more collaborative approach in family governance. Through a case study, they illustrate the practical application of the Power Map and emphasize the need for advisors to reflect on their own power and influence in family decision-making processes.

Takeaways

  • Advisors must recognize their own power in family dynamics.
  • Power can manifest in various forms beyond formal roles.
  • The Power Map helps identify and unlock sources of power.
  • Cultural dynamics significantly influence family governance.
  • Wealth 3.0 emphasizes collaboration over control.
  • Families today face more complexity than ever before.
  • Engaging the rising generation is crucial for family success.
  • Advisors should foster an enabling environment for families.
  • The illusion of governance can hinder effective decision-making.
  • Understanding cultural differences is essential for advisors.

Listen to the full podcast here:

Apple Podcast

The post Power Maps appeared first on David Werdiger.

source https://davidwerdiger.com/events-news-media/interviews/power-maps/

Aerion Technologies – Stop Selling Time: David Werdiger’s Recurring Revenue Blueprint | Ep 257 | DevReady Podcast

davidwerdigertransitionsLeave a comment

In this week’s DevReady Podcast, host Andrew Romeo, CEO & Co-Founder of Aerion Technologies, sits down with David Werdiger — Executive Coach with Asian Leadership International Executive Coaching, author, entrepreneur, and adviser to SMEs on intergenerational wealth transition, governance, and strategy.

David shares lessons from growing up in a family business to building scalable tech, the power of founder-led sales, and how governance turns ventures into valuable, transferable assets.

Key themes include moving from owning a job to owning a business, advisory boards and CEO autonomy, values-driven decision-making, and David’s Time Purpose Map for balancing work and life.

Topics Covered

  • Family business roots and transition to stockbroking as a quant analyst
  • Pivot to entrepreneurship in the mid-1990s telco deregulation
  • Building a telecom billing system and owning the IP
  • Early SaaS model with revenue share and recurring revenue
  • Founder-led sales vs. hiring a BDM for complex tech
  • Scaling through operations leadership, governance, and non-profit board experience
  • Defining what the business is for and avoiding founder burnout
  • Advisory board setup, CEO autonomy, and clear delegation
  • Time Purpose Map, values-based decision making, and intergenerational wealth transition with family charter facilitation

Watch the full episode here:

Also available on:

Spotify and Apple podcast

Aerion Technologies | Spotify 

Aerion Technologies | Apple Podcasts 

The post Aerion Technologies – Stop Selling Time: David Werdiger’s Recurring Revenue Blueprint | Ep 257 | DevReady Podcast appeared first on David Werdiger.

source https://davidwerdiger.com/events-news-media/interviews/aerion-technologies-stop-selling-time/

Barriers to Exit

davidwerdigertransitionsLeave a comment

You’ve been running the business for decades, and it’s been a hard slog.

You survived the ups and downs, including COVID, and lately the discussions have started about a possible sale.

It’s time, the family says.

It’s time, you tell yourself.

 

Things start happening: private equity firms knock on your door and express interest, or you engage with business brokers and M&A specialists.

Then it starts to become real: indicative term sheets, mandates.

You may never have thought about your business in these terms before. For all those years, it was what you did every day, and what paid for all the good things in your life.

But now it’s different. It’s an EBITDA multiple, or the present value of future flows. For you and your family, it’s potentially a large chunk of liquidity.

 

When push comes to shove and documents are there to be signed that actually move the prospect of a business sale forward, something is holding you back.

It’s hard to put your finger on.

The terms and the numbers all stack up.

Commercially, it makes sense.

Everyone you discuss it with agrees.

Yet something is holding you back.

And that doesn’t make sense.

 

Questions and doubts come to you:

– What will I do every day after the business is sold?

– Will the future owner look after things – the staff, the customers, the brand – the way I did?

– How will I invest the proceeds of the sale? I’ve never invested in that way before.

 

While these questions have something of a business lens, they come from a very different place – one that is not well considered when approaching business exit.

When making a business ‘exit ready’, we naturally think of the operational, financial and structural dimensions. But we don’t think about the emotional.

But starting a business is like having a child: we create it, it’s a part of us, and we watch it grow from business infancy to business maturity. Saying goodbye when we exit is hard enough; uncertainty about what the future holds makes it even harder.

 

—————————–

Over twenty years ago, I decided that I didn’t want to be an ‘owner-operator’ until the day I died (like my father). I set about steadily withdrawing from the business operationally, and establishing an advisory board so I could shift to ‘owner-investor’.

About ten years ago, I started building what has now become my third career as a family enterprise advisor.

Now, with the operating business only taking about 10% of my time, and the advisory business my primary focus, the thought of exiting the operating business carries no fear. My next chapter is written.

—————————–

 

Not everyone has the approach, the foresight and the time to plan their next stage of life.

My lived experience growing up in a business family and taking my own journey led me to become an advisor and help others experiencing similar challenges.

 

The greatest barrier to exit from your business might be the fear of uncertainty as to what comes next for you.

Rather than let those barriers hold you back, deal with the uncertainty and create the future you want for you and your family.

 

Conversation Starters:

How do you balance the needs of your business and your family?

What is the marginal benefit of remaining an owner-operator for another X years?

What does your next chapter of life look like?

 

Further Reading:

Family-Owned Business: Saying ‘Time to Go’
3 Challenges To Consider When Transitioning Your Family Business To A Third Party
4 Things About Investing in a Family Business
How to Successfully Transition a Family-Owned Business, According to The Colony Group
Is Succession In Founders’ Economic Interest?
Who Will Inherit the Family Business? Often, It’s Private Equity
‘My father’s succession planning took two decades – now I help other wealthy families’
How to Bring an Outside CEO into the Family Business
Workers Stick with Family Businesses for Generations, Family Business Study Finds
The Benefits Of Turning A Family Business Into The Business Of Family
Should You Treat Your Family Business Investment Like You Treat Your Stock Portfolio?

The post Barriers to Exit appeared first on David Werdiger.

source https://davidwerdiger.com/family-business/barriers-to-exit/

‘On the land, in the air, on the sea, and …’

davidwerdigertransitionsLeave a comment

Aug 24, 2025, 4:33 PM

The text of prayers are a deep part of our tradition. At what point should they be changed or “upgraded” to reflect changes in circumstance?

Congregations around the world recite the prayer for the IDF, following a standard form composed by former Chief Rabbi of the IDF, Rabbi Shlomo Goren, in 1956:

“He Who blessed our forefathers … may He bless the fighters of the IDF, who stand guard over our land … from the border of … unto the approach of the Aravah, … בַּיַּבָּשָׁה בָּאֲוִיר וּבַיָּם – on the land, in the air, and on the sea. …”

This last phrase notes the three common branches of armies: infantry, air force and navy, which engage with our enemies on land, in the air, and at sea.

But in recent times, new fronts in the war against us have opened up, and this has led me to start adding another place where we engage in war: בסייבר – in cyberspace.

Israel has been fighting the war on this front for many years. The Greek dramatist Aeschylus first said that “in war, the first casualty is truth”. Media reporting on a conflict through the fog of war is difficult at any time. Nowadays, media has been reshaped – through the democratization of social media, and the increased partisanship of so-called mainstream media – to the extent that it has become an important new front in any war.

On this front, Israel battles not just for her physical safety, but indirectly for the safety of Jews around the world. The front itself is digital media which extends into the court of public opinion, forums such as the UN, the International Court of Justice, and the NGO world. In Australia, the left-leaning media accept the word of the Gaza Ministry of Health as gospel, and questions everything coming from the IDF and the government.

So just like we pray for the success of the IDF’s air force, so should we pray for its cyber divisions, and other government agencies who battle in the cyber front. Their role in what has become a global war against Israel and Jews, will only grow.

Considering this further, the cyber front of this war is actually much broader. Anyone active on social media is – like it or not – another soldier in this war.

But unlike in an army, where there is a strategy, and command & control to implement it, we online “lone soldiers” are largely operating on our own. Not only do we not have strategic guidance from leadership, we differ in our own views of the conflict! In that, we are often our own worst enemies. This is hardly a way to fight an effective campaign, especially if our enemies are very clear and consistent in their messaging, and find allies and useful idiots in the neo-Marxist and anticolonialist Left.

It’s time for this broader online “army of the people” to work more closely together on consistent messaging, and quell our internal bickering. We need to seek out our own allies amongst the silent majority, and empower them to speak up on our behalf.

We are all fighting the war in this new front, and we need all the help we can get!

May God cause the online haters who rise up against us to be struck down. May He preserve and rescue our online fighters from trouble and distress, may He send blessing and success in their every endeavor, and may truth prevail in a world of falseness.

And may there be fulfilled for them the verse: “For it is Hashem, your God, who goes with you to battle your enemies for you to save you”, and let us say Amen.

This is originally posted at Times of Israel.

The post ‘On the land, in the air, on the sea, and …’ appeared first on David Werdiger.

source https://davidwerdiger.com/blog/on-the-land-in-the-air-on-the-sea-and/