What is family systems theory, and why should advisors care? In this episode of the PPI 101 Podcast Series, family legacy coach Steve Legler hosts Dr. Charles Eckhart, PPI's Dean of Family Dynamics, Systems Theory, and Relationships and leader of the Family Systems Theory Learning Circle. Charles traces family systems thinking to its roots in mid-20th-century family therapy, then shows how it gives advisors a new way to understand clients who seem stuck. The conversation centers on three foundational concepts: wholeness and interdependence, or seeing the family as a connected unit rather than a group of individuals; circular causality, the idea that family conflicts have many contributing causes instead of one "problem" person; and homeostasis, the tendency of families to resist change even when everyone wants to move forward. A familiar case anchors the discussion: parents waiting for their rising generation to "show they're ready" before discussing wealth, while the next generation puts off major life decisions until they know more. Charles also offers three practical questions advisors can use to shift into a systems lens, and recommends Nichols and Schwartz's Family Therapy: Concepts and Methods as a starting point for further reading.

In the premiere episode of the PPI 101 podcast series, sponsored by the Merrill Center for Family Wealth, host Steve Legler sits down with Valerie Galinskaya, Managing Director and Head of the Merrill Center for Family Wealth, to explore what "rising generation" really means and why it matters for family wealth advisors. Valerie explains that the term is intentionally inclusive, spanning anyone from an 11-year-old to a rising generation member in her 60s, and shares research showing that nearly half of ultra-high-net-worth families now share financial decision-making across two or more generations, with limited governance and unclear expectations cited as the biggest challenges. Drawing on real client stories, she outlines a three-part approach to engaging the rising generation, listening without judgment, helping them build relevant skills, and ensuring advisory teams reflect the perspectives of those they serve, while offering practical language advisors can use to earn buy-in from skeptical parents. The conversation makes the case that understanding the rising generation isn't just good practice but essential to serving families well amid an estimated $124 trillion wealth transfer underway through 2048.