Successful Generations

In the previous episode, Eric Allyn shared the history of his family’s business, Welch Allyn. He told us how his generation banded together to change the governance model of the business, effectively removing control from the third generation and eliminating a family member CEO. When we left off, Eric was telling us about the sale of Welch Allyn to Hill-Rom in 2015.   In this episode, Eric shares his family’s process of creating ‘Allyn family 2.0, life after the sale.’ We talk about how his family is learning the ins and outs of wealth management and the evolving role of their family office. As Eric said, family members understood ophthalmoscopes and defibrillators. Now they’re learning a new language involving investments, insurance and trusts. They’re also facing the challenges of raising children with tremendous liquidity.   Eric shares some lessons learned from his Welch Allyn experience and also does a great job answering my bonus questions. Enjoy!   Topics discussed in this episode:   Recap of part 1