Next Gen 2022: the lowdown
Q&A with programme leader Matthew Fleming
Friday 1 July marked the last day of the twelfth Stonehage Fleming Next Gen Course. A cohort of 30 young people joined the weeklong programme, taking part in interactive sessions on leadership, family dynamics, communication and the foundations of finance and business.
Programme leader, Matthew Fleming, Head of Family Governance & Succession, shared his reflections on the week.
Experience and education were the catalysts for launching the course. There is a real educational gap in schools and universities around financial planning and the investment universe. Our in-house experts cover this as well as some of the more practical topics such as - How do I put a portfolio together? and What is a trust?.
We also cover the importance of ‘intellectual capital’. The accumulated knowledge, experience and wisdom a family has an important role to play in the management of its wealth. The programme includes presentations from a range of carefully-selected speakers, collaborative team sessions and exercises to open the minds of the young people who attend. We facilitate those vital conversations around leadership, family dynamics, crisis management, risk and communication.
Guilt and wavering self-worth is a key challenge for the next generation. Young people question what they have done to deserve the fortunate position they are in or whether they are going to be able to live up to their family’s expectations. This manifests itself in many ways and we allow space on the course for attendees to ponder these questions.
"Our job is to provide a safe environment for people at similar stages in their lives to talk, reflect and understand the perspectives of their peers".
Attendees have ‘lightbulb’ moments at different points in the week. Whether that’s becoming an entrepreneur, the importance of making an impact, or the realisation that failure can actually be a really good thing. Watching them develop is hugely rewarding.
The ’Dragons’ Den’ challenge has gained legendary status on the programme. People get quite anxious about the task but we are not there to judge the quality of a business plan. It’s about the teams working together to communicate a purposeful and interesting idea. Although there is a tangible – and in some cases competitive – output, the learning outcomes have a much wider and longer-term impact.
Matthew Fleming is Head of Family Governance & Succession, responsible for helping clients develop and implement plans for passing on their legacy to subsequent generations.