Show Notes

Air Date: 7/6/2021

How to align heads, hearts and stomachs in family businesses

Having grown up around family business, Phil Harriman has dedicated his career to helping family businesses. In this episode, Phil shares how he guides his clients using his head, heart and stomach approach. Find out what he recommends for strategizing for the future, whether passing the business on to the next generation or preparing to sell. Listen as Phil describes what he learned while serving in public office.

3:45 – Phil explains how he wanted to go into his family’s supermarket business and why he had to find a new dream.

14:47 – Phil describes how he navigates family businesses’ financial issues with clients.

18:11 – Phil talks about how he helps families strategize how to help the next generation run the family business or prepare it for sale.

21:39 – Phil shares how he has used public relations to spread the word about what he does while maintaining client confidentiality.

25:54 – Phil describes his time on the Yarmouth Town Council and in the Maine Senate

31:13 – Phil shares his recommendations for family-owned businesses when branding and promoting themselves.

34:24 – Phil talks about the second and third-generation future leadership in place at Lebel & Harriman ~ Financial Advisors.

36:06 – For his resource, Phil shares that he likes to read biographical writing.



“Everyone has a unique story. It’s their story and it’s not my place to judge their story or tell them how their story should end, rather to understand.” – Philip Harriman, founding partner at Lebel & Harriman ~ Financial Advisors



Start with Why by Simon Sinek


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About the guest:

For more than 40 years, Phil Harriman has worked with hundreds of family-held and non-profit businesses in the areas of retirement planning, business continuation planning and estate planning. He started his career with Maine Governor James B. Longley’s insurance agency in 1977.

Phil is a graduate of Husson University earning a degree in Business Administration, majoring in Insurance. He was awarded the Chartered Life Underwriter and Chartered Financial Consultant designations from The American College in Bryn Mawr, PA.

Phil is the Past President of the Million Dollar Round Table, an international association of financial and life insurance advisors. He is a past executive committee member of the Maine Estate Planning Council.

Phil has spoken to international audiences worldwide including Australia, Japan, Korea, Taiwan, Hong Kong, India, Malaysia, Mexico, Singapore, Brazil, Europe, Philippines, Canada and Thailand. He has also appeared on CNN Financial, Sky Tel and Bloomberg Radio Network.

Lebel & Harriman is one of the largest retirement and business succession planning firms in New England. They manage over 1.3 billion dollars in retirement and investment accounts and serves family businesses in all areas of succession planning, key employee retention and legacy planning.

His community service includes serving on numerous boards including Chairperson of Make A Wish- Maine and a trustee of Husson University. Phil’s civic involvement includes serving four terms in the Maine Senate.

Phil delivers political analysis for the NBC television network in his home state of Maine.


Looking to connect:          



Twitter: @phil6_2