Family Business Succession: Balancing Legacy and Relationships (Ep. 72)
What happens when a family business faces the question of “what’s next”?
In this conversation, Nicole Romito sits down with Justin Albertson, Vice President of Client Services at The Family Business Consulting Group, to unpack the delicate balance of transitioning a business while preserving family relationships.
Together, they explore why the family side of succession is often more complex than the legal or financial mechanics, and how thoughtful conversations can create alignment across generations. Justin shares real-world examples from successful transitions to tough moments of misalignment, highlighting the importance of open dialogue, clear expectations, and independent third-party guidance.
What to expect in this episode:
- How to start the right conversations around succession and ownership
- Why alignment on family values and expectations matters as much as legal documents
- Lessons from families who navigated transition well and those who struggled
- The role of a “family constitution” in creating clarity across generations
Connect with Nicole Romito:
Connect with Justin Albertson:
- LinkedIn: Justin Albertson
- LinkedIn: The Family Business Consulting Group, Inc.
- The Family Business Consulting Group: Justin Albertson
- jalbertson@thefbcg.com
- 773-372-1349
About Our Guest:
Justin Albertson is the Vice President of Client Services at The Family Business Consulting Group. With more than 20 years of experience in assessment, organizational effectiveness, leadership development, and executive coaching, he partners with families to strengthen relationships and create strategies that align business success with family vision.
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