Chapter 12

On Leadership and Management

For as long as we have participated in organizations, we have heard some variation of “Leaders are born, not made,” or the contra position, “Leaders are made, not born.” We suspect that both concepts are true.

Individuals who have an innate sense of responsibility and a drive to succeed usually do not leave the steering to others when they feel that the group, the business, or the family is drifting off course. We often do not notice those leadership traits until confronted with a crisis, a difficult decision, or an urgent circumstance. It is fair to say that all three of these conditions exist in the advisory world today.

Who will rise to the occasion? It is common for people to confuse ownership and ...

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