The Real Reason Most Family Businesses Fail | David Specht | The Power Of Integrity Podcast

What if the biggest risks in your family business aren’t financial, they’re relational? 

In this episode of The Power of Integrity, host Ralph Adamo sits down with David Specht, founder of Advising Generations LLC and author of The Family Business Whisperer, for a powerful conversation on legacy, leadership, and integrity in family-owned enterprises.

With decades of experience advising multi-generational families and building programs at institutions like the Drucker School of Management and the University of Nebraska, David reveals how entitlement, poor communication, and lack of clarity often derail family businesses, not taxes or investment strategies. He shares his own defining moments where integrity was tested, including walking away from a lucrative partnership to protect his values.

In this episode, you’ll discover: ✅ Why "the business of family" is often harder than running the family business ✅ How doing what’s right, even when it costs you, builds long-term credibility ✅ Why curiosity, honesty, and humility matter more than having all the answers

 

🎙 Podcast Quote: "Trust is built over time, but lost in a moment. And integrity has everything to do with it." – David Specht

 

Whether you're a business owner, advisor, or part of a legacy-driven family, this episode will challenge you to rethink what it means to lead with integrity.

 

Connect with David Specht:

• LinkedIn: https://www.linkedin.com/in/davespecht/ 
• Book: The Family Business Whisperer
• Courses: Coming soon—Family Business & Generational Wealth Masterclasses 

Connect with Ralph Adamo:

• LinkedIn: https://www.linkedin.com/in/ralph-adamo/ 
• Website: http://www.integrityiwm.com/ 
• Website: https://www.integrityatwork.com/ 
• Podbean: https://thepowerofintegrity.podbean.com/ 
• YouTube: https://www.youtube.com/@integritywealthmanagement9812 

 

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Disclaimer: 

Ralph Adamo is registered with and securities are offered through Kovack Securities, Inc., Member FINRA/SIPC, 6451 N. Federal Highway, Suite 1201, Ft. Lauderdale, FL 33308. Tel: [phone]. Investment advisory services are offered through Kovack Advisors, Inc. Integrity Wealth Management is not affiliated with Kovack Securities, Inc. or Kovack Advisors, Inc.

 

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