Family Planning

Newton, Catherine
November 2001
Journal of Financial Planning;Nov2001, Vol. 14 Issue 11, p72
Academic Journal
The article presents an interview with four professional financial planners, Ben G. Baldwin, Judith A. McGee, Chuck Morris, and Mark L. Smith, on the issue of bringing a son or daughter into a financial planning practice, or joining a parent's financial planning practice. The challenges and rewards of a family-owned practice are discussed. Smith describes the roles of family members in the family practice. McGee discusses the importance of an employer-employee relationship between family members. Morris describes being under the wing of his father in an apprentice role for about five years, a role he found to be very beneficial. Another topic discussed is the concern that personal issues leaking into the business environment may become a problem, and, if this is the case, the role of outside coaching as being helpful to remedy the situation.


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