
From Expert to Catalyst: Helping Families Build Decision-Making Confidence
Practical Strategies for Advisors Working with Enterprising Families
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by Paul Edelman, PhD, PCC
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Abstract
This article offers practical strategies for advisors looking to help families build confidence in their decision-making. It outlines how to move beyond advice-driven models toward approaches grounded in experiential learning and structured opportunities for collaborative decision-making. Drawing on examples from family governance, leadership development, and generational transitions, it provides strategies to support rising leaders and help families strengthen their capacity for collaboration across generations.
Introduction

Historically, family wealth advisors were often positioned as experts. Advisors once cast themselves as protectors, using cautionary narratives to maintain control and prevent missteps—reinforcing dependency on outside guidance and limiting growth across generations.
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Today, that model is beginning to change. Increasingly, professionals are embracing a different role: that of catalyst and coach. Rather than offering prescriptive answers, they help families build skills to think critically, act collaboratively, and make decisions with greater confidence.
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This shift reflects a more complete view of what families need. Ultra-high-net-worth families are stewards of financial assets—and dynamic communities of people with diverse talents and perspectives. The ability to make sound decisions, especially across generations, is essential to sustaining both wealth and cohesion over time. Decision-making isn’t an innate skill; it’s developed through experience, feedback, and support.
In this context, confidence isn’t about certainty or fearlessness. It’s the trust—built through experience—that you can move forward, even when outcomes are uncertain.
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This article offers a practical roadmap for advisors seeking to help families build confidence in their decision-making. Drawing on insights from leadership development, governance, and experiential learning, it explores how advisors can shift from being answer-givers to becoming trusted guides—supporting rising decision-makers as they grow into capable, confident leaders.
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Bridging the Gap: Building a Foundation for Family Leadership
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Well-designed structures provide the framework, but it’s people’s ability to make thoughtful decisions that ultimately determines the success of governance and leadership transitions. Developing this capacity, particularly in rising-generation (rising-gen) family members, lays the foundation for enduring leadership, continuity, and effective stewardship of the family’s wealth.
Yet rising-gen family members can be slow to step into decision-making roles, unsure whether they’re ready to lead. Accustomed to relying on advisors or senior family members—and often lacking direct experience, they may feel unsure of their judgment or reluctant to act independently.
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Several factors contribute to this dynamic:
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Limited real-world experience can lead to self-doubt and hesitation.
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Over-reliance on professional advice may unintentionally send the message that key decisions are best left to the experts.
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Fear of making mistakes, especially in high-visibility situations, can discourage initiative and risk-taking.
The result can be passivity, disengagement, or a reluctance to lead—outcomes that weaken both family governance and the continuity of leadership over time.
This is where advisors can make a pivotal difference. By helping families create learning environments that emphasize practice, feedback, and shared responsibility, advisors can support the development of confident, capable decision-makers who are prepared to navigate complexity and lead with purpose.
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​​​Key Strategies for Developing Confident Decision Makers
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The following strategies can help advisors support the development of confident, capable decision-makers within enterprising families.
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1. Promote Self-Awareness and Responsibility
Self-awareness is foundational to confident decision-making. Individuals are more likely to make sound choices when they understand their own strengths, blind spots, and preferred approaches to problem-solving and collaboration.
Advisors can support this development in several ways:
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Use assessment tools to spark insight. Assessment tools can be powerful catalysts for conversation. Instruments that explore leadership style, collaborative attributes, or emotional intelligence can help families surface blind spots and better understand how each person approaches complexity and interpersonal dynamics.[1]
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Encourage reflective habits. When family members take time to consider the outcomes of their decisions, what worked, what didn’t, and why—they begin to build insight and confidence. Whether through journaling, peer discussions, or informal debriefs, these moments of reflection help turn experience into learning.
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Clarify roles and promote accountability. Clearly defining responsibilities within family governance or business structures supports accountability and engagement. When individuals have real opportunities to make decisions, paired with support and feedback, they gain experience that builds confidence and fosters growth.
2. Create a Safe Environment for Learning
Developing decision-making skills requires an environment that encourages learning and treats mistakes as opportunities for growth rather than failures to avoid. Advisors can help foster these conditions by guiding families toward practices that support both experimentation and accountability.
Accountability fosters safety by clarifying expectations and reinforcing the importance of follow-through. When family members trust that their efforts count and that mistakes will be treated with fairness, they become more open to taking risks and learning from the process.
Key approaches include:
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Encouraging mentorship. Pairing rising-gen members with mentors—whether inside or outside the family—can provide valuable guidance and perspective. When mentors openly share their own learning curves, they help make imperfection acceptable and reinforce that growth often comes from trial and error.
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Starting with low-stakes decisions. Smaller-scale projects—such as managing a philanthropic grant, leading a working group, or evaluating a new service provider—allow rising-gen family members to practice decision-making with real but manageable consequences. These experiences build confidence over time.
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Creating room for curiosity. In families that view asking questions as a sign of engagement, learning becomes a shared value. Advisors can model this by posing open-ended questions and encouraging thoughtful inquiry during meetings and discussions.
​​3. Teach Decision-Making Frameworks
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Structured tools can help family members break down complexity and approach decisions with greater clarity and confidence. Advisors can introduce practical frameworks that support strategic thinking, enhance discernment, and encourage sound judgment over instinct or the voice of authority.[2]
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Introduce accessible tools. Simple methods—such as mapping internal strengths and weaknesses against external opportunities and threats (SWOT analysis), laying out possible choices and their consequences step-by-step (decision trees), or comparing potential costs and benefits across different paths—can help families organize their thinking and explore options more deliberately. Even basic tools like these encourage people to slow down, weigh alternatives, and become more intentional in their choices.
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Use scenario planning exercises. Exploring multiple plausible futures together helps families build flexibility and foresight. Real or hypothetical scenarios allow members across generations to anticipate trade-offs, surface differing assumptions, and strengthen their ability to adapt when circumstances change.
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Encourage written reflection. Capturing key decisions—what was considered, why a choice was made, and what the outcome revealed—sharpens judgment and supports learning over time. Writing things down helps individuals notice patterns in their thinking and refine their approach. When shared, reflections can also spark meaningful conversation and shared learning within the family.
4. Facilitate Collaborative Problem-Solving
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Effective decision-making rarely happens in isolation. Families that thrive across generations often structure collaboration into their governance, creating environments where diverse perspectives are valued and collective problem-solving is the norm. Advisors can play a key role in fostering these conditions.
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Practical approaches include:
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Use meetings and retreats as opportunities to practice. Structured exercises—such as simulations, case discussions, or what-if exercises—create low-risk settings where family members can work across generations to develop shared problem-solving habits.
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Model constructive dialogue. Advisors can help families establish norms around active listening, respectful disagreement, and integrating diverse viewpoints. This strengthens both decision-making and the trust that sustains family unity over time.
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Bring in diverse perspectives. Inviting non-family professionals, industry experts, or trusted advisors can expose the family to new ways of thinking, while keeping decisions in the family’s hands.
5. Recognize and Celebrate Achievements
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Confidence in decision-making grows not only through experience, but also through meaningful recognition. When families recognize effort, growth, and thoughtful leadership—even when outcomes aren’t perfect—they strengthen the environment needed for continued development.
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Advisors can encourage families to:
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Recognize growth alongside outcomes. Celebrating initiative, resilience, and thoughtful risk-taking reinforces that leadership is a process—one that includes both missteps and successes.
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Highlight sound judgment. Acknowledging moments of clear thinking, collaboration, or strategic insight helps set expectations and encourages others to lead with confidence.
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Create rituals of recognition. Spotlighting accomplishments in meetings, offering informal awards, or inviting rising-gen members to share decisions they’ve led can reinforce good habits and sustain growth over time.
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6. Address Fear of Failure
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Fear of failure is one of the most common obstacles to developing confident decision-makers. When the perceived cost of getting it wrong feels too high—whether due to family expectations, fear of judgment, or lack of experience—rising leaders may avoid taking on meaningful responsibility altogether.
Advisors can help families see failure differently. One way to do this is by creating a more supportive context for learning through the following practices:
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Treat setbacks as part of leadership growth. When senior family members or mentors share stories of early missteps, they help reduce the stigma of failure and show that leadership ability develops with time, responsibility, and reflection.
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Facilitate post-decision review. Setting aside time to revisit outcomes, test assumptions, and extract lessons strengthens both individual insight and shared decision-making capacity. Advisors can support this process by facilitating regular opportunities for families to reflect together and learn from experience.
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Emphasize progress over perfection. Confidence builds through consistent practice and learning over time. Advisors can help families focus less on “getting it right” and more on “getting better”—a mindset that fosters resilience and long-term growth.
Case Studies: Real-World Challenges and Solutions
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Third-Generation Family Business Succession​
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Challenge: A third-generation family business faced succession challenges because the patriarch continued to control most financial decisions. This left the rising generation with little opportunity to develop decision-making experience and created uncertainty around the leadership transition.
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Approach: With guidance from an advisor, the family recognized that leadership readiness wouldn’t develop through observation alone. They introduced a rotational model in which each next-generation member led a division, supported by regular coaching from senior family members.
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Outcome: Over time, the rising generation built confidence and practical leadership skills. The patriarch was able to step back gradually as the next generation took on expanded decision-making authority and leadership responsibility.
Family Foundation’s Impact Investing Debate​
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Challenge: A family foundation experienced a generational divide over its investment strategy. Younger members advocated for impact investing—investments that aim for both financial returns and measurable social or environmental benefits. Older members, however, were skeptical, concerned that this approach departed from the foundation’s traditional investment principles.
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Approach: The family organized structured conversations and brought in an external facilitator who introduced decision-making tools and helped them explore how to frame complex issues at the right level of generality. In this case, polarization had emerged around the term impact investing itself—language that carried positive connotations for some family members and negative ones for others.
Instead of asking, “Should we do impact investing or not?”, the family reframed the question: “How can we invest our philanthropic dollars in ways that align with what’s important to us?” This shift helped elevate the conversation and encouraged the group to move beyond an either/or mindset. Together, they generated a range of potential approaches, each reflecting shared values but offering different levels of financial risk, time horizon, and measurable impact.
As an incremental step, they agreed to pilot more than one approach, including a project aimed at producing electricity without burning coal and another that supported community health outcomes in a region where the family has long-standing ties.
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Outcome: The pilots delivered strong financial returns and meaningful social and environmental outcomes. Their success helped ease concerns, deepen mutual respect, and bridge the generational divide. The foundation has since adopted a more flexible investment strategy that reflects the family’s evolving priorities and willingness to explore diverse pathways toward shared goals.
Key Takeaways
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Confidence is built, not assumed. Families that succeed across generations are intentional about developing decision-making capacity—especially in rising-gen members—through structured, real-world opportunities like project leadership, committee roles, or guided discussions, with support and learning along the way.
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Advisors play a catalytic role. The most effective ones know when to provide answers—and when to act as facilitators, coaches, and educators who help families reflect, collaborate, and grow through experience.
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Learning environments matter. Mentorship, guided conversations, and experiences where it’s safe to make mistakes help family members strengthen their judgment and leadership skills.
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Make progress visible—and celebrate it. Acknowledging thoughtful effort, even when the results aren’t perfect, reinforces growth and encourages continued engagement.
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Resilience is more valuable than perfection. Treating setbacks as normal and framing them as part of the learning process helps families create an environment where leadership can evolve with confidence and continuity.
Call to Action: Supporting the Next Generation of Decision-Makers
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Advisors can help families take meaningful steps toward building decision-making capacity and confidence. Start by identifying a decision, project, or conversation where rising-generation members could play a more active role—and use that as a platform for learning and growth.
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For advisors: Embrace your role as catalyst. Help families develop clarity, confidence, and capability by introducing decision-making frameworks, encouraging thoughtful reflection, and supporting the design of governance structures that promote shared responsibility and growth across generations.
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For family leaders: Invite participation early and often. Create opportunities for rising-gen members to contribute to real decisions—starting with manageable projects and expanding as confidence grows. Acknowledge their contributions, and model transparency, humility, and trust.
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For rising-gen members: Don’t wait to be invited in. Take initiative, ask thoughtful questions, and reflect on your experiences. Confidence doesn’t mean the absence of discomfort; it’s the trust—derived through experience—that allows you to move forward even when the path is uncertain.
Summary
Families that build decision-making confidence across generations preserve more than financial capital—they strengthen the relationships and leadership capacity that sustain wealth and purpose over time. Advisors play a vital role in this process—not by managing outcomes, but by guiding families as they learn, grow, and lead together. When families are equipped to make thoughtful decisions, and supported in developing that ability, legacies are not only protected—they’re encouraged to evolve, so each generation can shape its own path while contributing to the family’s unfolding story.
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[1] Examples of commonly used tools—many of which have been tested for reliability and statistical validity—include assessments developed by organizations such as Genos International (https://www.genosinternational.com), Gardner & Co. (https://www.gardnerandco.co), and John Wiley & Sons (https://www.pxtselect.com).
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[2] Many of the practices described draw on well-established insights from leadership development and behavioral decision science, including work on cognitive bias, framing, and experiential learning.
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About the Author
Paul Edelman, PhD, PCC is a coach and facilitator specializing in work with
ultra-high-net-worth families, family offices, and the professionals who support them. He is the founder of Edelman & Associates, a solo advisory practice focused on helping families build decision-making capacity, navigate complex transitions, and design governance systems that foster clarity, confidence, and collaboration.
​​​​​​​Paul holds a PhD in Personality and Developmental Psychology from Harvard University. He also serves as an Entrepreneur in Residence at the Bertarelli Institute for Family Entrepreneurship at Babson College and as a faculty member of the UHNW Institute.
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https://www.edelmancoaching.com
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