Capital Club

What does the word legacy mean to you? Everyone leaves a legacy, either a default one or an intentional one and Lance Welch's new book, The Legacy Navigator, is a blueprint to create your best legacy possible. Join us for an engaging conversation with Lance Welch, a Certified Business Development Coach with the John Maxwell organization, Certified Behavioral Consultant for DISC Personality Profiles, and author of The Legacy Navigator.Order your copy of The Legacy NavigatorConnect with LanceConnect with BrianThis episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Selling your business can be an emotional journey, and it's often the lack of knowledge of what comes after that causes anxiety. So, what happens after an exit?Todd Goldman is the managing director of a boutique M&A firm specializing in ESOP advisory. ESOPs, or Employee Stock Ownership Plans, incentivize owners to transition their companies through Congress' 1042 legislation, enabling them to sell tax-free. This conversation covers the challenges and opportunities of private equity transactions and ESFs. Todd also dives into the goals of ESFs, including maintaining a sense of control, stakeholder value, legacy, and market liquidity for the business. Tune in to learn more about exit strategies for business owners and employee stock ownership plans![00:01 - 07:25] Opening SegmentESOP stands for Employee Stock Ownership PlanLouis Kelso pioneered the concept in the 1970s to incentivize business owners to transition in a different way[07:26 - 14:45] ESF Deals for Market Liquidity, Legacy, and Life of RelevancePrivate equity is seen as significant on the front end but can be challenging to work withThe goals for ESFs include legacy, a life of relevance, culture, stakeholder value, and getting market liquidity for the business[14:46 - 20:48] Generational Differences in Employee OwnershipGen Z and Millennials view work relationships differentlyEmployee ownership is attractive to younger generationsRetention rates are higher in employee-owned companies[20:49 - 27:04] Unlocking the Benefits of ESOPsESOPs are an excellent outcome for people-based businessesESOPs are an attractive option for owners who want to transition out of their businessESOPs involve raising third-party financing with a bank and setting up a legal entity[27:05 - 33:51] The Nuances of Business Transition PlanningHaving the right influencers around the table is vital for closely held businessesGoals must be discussed to understand what the business owner wants to accomplish[33:52 - 35:49] Closing SegmentTodd's daily practice: yoga and sleeping wellConnect with Todd through the links belowQuotes:"It's not the ability to keep a hundred dollars in your pocket. If you're thinking about the macro picture for your family, it's legacy. It's a life of relevance, it's the culture, and it's the stakeholder value." - Todd Goldman"Don't put your head in the sand. Get the right people around the table. Do the education while you have time, and then be honest about your goals." - Todd GoldmanConnect with Todd!Website: www.lazearcapital.com LinkedIn: https://www.linkedin.com/in/todd-goldman-81a968149/ Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Does your family business have the appropriate ecosystem to contribute each unique skill effectively?Join us as we explore the importance of engaging the next generation in family businesses with Rebecca Finley-Schidlowsky. Rebecca is a strategy, governance, and leadership development specialist for family offices and companies across North America. She has identified three main groups of next gens - young kids (0-11 yrs old), teens (12-16 yrs old), and young adults (17-35 yrs old). She will explore topics such as teaching them how to run an effective meeting, communication, transparency, social media policies and ESG initiatives, financial literacy, philanthropy, networking outside their family, trust with their peers, and setting up a shadow board. We will also learn about the importance of exposing the next generations to various learning opportunities to foster their identity and education around leadership.Tune into this episode to gain insights into engaging the next generation in family businesses![00:31 - 08:19] Opening SegmentIntroducing Rebecca to the showNext Gen is a term used to refer to anyone 40 years old or youngerRebecca divides Next Gen into three buckets: young kids (0-11), teens (12-16), and young adults (17-35)There is a challenge with the middle group of 35-65-year-olds who should be stepping into leadership positions but are held back by the generation above them[08:20 - 20:34] Engaging Next Gens in Leadership and PhilanthropyNext Gens need guidance and assistance to carve out space for their own identity outside of the familyFinancial literacy is often lacking, and investment councils can help teach thisShadow boards comprised of solely next gens are becoming more popular to advise family companiesNext Gens are passionate about ESG initiatives and have a huge thirst to learn[20:35 - 30:31] How to Foster Engagement and Learning Within the Next GenerationOlder generations should ask the next-gen what they are interested in doingStarting young is crucial; families should be intentional about retreats, in-person activities, meetings, etc.Family history research can help connect families and build interactive family trees[30:32 - 33:00] Closing SegmentConnect with Rebecca through the links belowQuotes:"Even though you're born into a place of privilege, these Next Gens have a lot of anxiety, especially about thinking that they can't fill the shoes of the people that have come before them." - Rebecca Finley-SchidlowskyConnect with Rebecca!Email: rebecca@finleyandassociates.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Tom Geddes and Alice Paik join the Capital Club Podcast to discuss their work at Brown Advisory, a financial advisory firm with an institutional and private client business. Learn how the firm values clients, offers a scale of assets and investment strategies, and how complexity can change the calculus for setting up a true single-family office. Discover how families need the right mix of critical people to pull all the pieces together and attract and retain the best talent. Tune in now to hear this insightful conversation on family wealth management from two experts at Brown Advisory![00:01 - 06:55] Opening SegmentIntroducing Tom Geddes and Alice PaikBrown Advisory is a private, independent firm with clients across all 50 states and in other countriesThe importance of having a warm and engaging client-first mentality[06:59 - 13:30] What Families Need to Know in 2023The threshold for setting up a single-family office has grown in recent yearsMulti-family offices are often used as a marketing term without fully understanding itAdvice and service are two other vital components for families[14:31 - 20:07] Exploring NextGen Education and ESG Investing for a Smooth TransitionThe importance of raising responsible decision-makersHelping families understand what wealth means to them and their impactEducating kids/grandkids about the responsibility that comes with wealth[20:08 - 28:49] Investing and Philanthropy Come Together for FamiliesReminding the senior generation to let go of their control in small, incremental stepsESG sustainability is a core competency at the farm and is seen as an investment approach that can drive a competitive advantageEndowments and foundations business growing with families are often involved with these organizations[28:40 - 32:26] Investing in Prosocial Ways to Align with Mission Goals5% of endowment resources are being used for prosocial and mission-aligned investmentsCombinations, acquisitions, and expansions are all tied back to the core mission of the firm[32:27 - 35:19] Closing SegmentConnect with Tom and Alice through the links belowA daily practice that helps bring peace to your lifeAlice: watching the sunrise every morning and turning the phone offTom: reading and dropping off his kids in the morningFinal wordsQuotes:"We know our client's dog's names too. We operate on a very warm and engaging client-first kind of mentality." - Tom Geddes"Values are expressed in different ways, and to remind people of that along the way, that you may be acknowledging that hard work or faith or something is very important to a family." - Alice PaikConnect with Tom and Alice!Website: www.BrownAdvisory.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Join us as we dive into ESG investing with our special guest Jennifer Goode. She is a director at Bernstein Private Wealth Management in Washington, DC, and a former founding partner of Birchstone Moore LLC, a boutique law firm focused on estate planning and trust administration. Jennifer discusses the challenges fiduciaries face in ESG investing and their duties of loyalty and prudence. Jennifer will explain the different types of ESG strategies, such as ESG integration and ESG-focused strategies, which can be used to improve financial returns while also striving to further an environment-related goal like fighting climate change. She also explores how traditional screens for ESG investing have yet to be found to reduce returns significantly and how structuring strategies according to broad themes can minimize diversification concerns. [00:01 - 07:46] Opening SegmentIntroducing Jennifer to the showThere are two types of ESG investing: integration and focused strategiesIntegration strategies invite more information into the analysis to provide a better financial return[07:47 - 14:38] Exploring the Intersection of Fiduciary Obligations and ESG InvestingFocusing on three fiduciaries: trustees of a trust, administrators of private retirement plans, and decision-makers for nonprofitsTwo duties applicable to ESG investing: fiduciary duty of loyalty and duty of prudenceESG integration goal is purely financial, with no third-party interests[14:39 - 21:51] Understanding the Benefits of ESG Investing for Multi-Generational TrustsFiduciaries should look at historical performance, portfolio managers, strategy structure, and goalposts to measure up against benchmarkCreate a standardized vocabulary and shared understanding of what is being discussedHave a meeting of beneficiaries and trustees to create space for education about the strategy and its role in investment[21:52 - 30:53] Exploring the Complexities of ESG InvestingJennifer talks about the lack of consistency and standardization in terms of what counts as ESG and what doesn'tIt is hard to determine the goalposts for the ESG goal due to the lack of a straight line between trying to further a more inclusive employment field and making sure companies have policies in placeThe media lacks consistency in covering these issues[30:54 - 32:40] Closing SegmentConnect with Jennifer through the links belowJennifer's daily practice: snuggling with her kidsFinal wordsConnect with Jennifer!Email: jennifer.goode@alliancebernstein.comWebsite:  www.bernstein.comDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON!Disclosure: The views expressed herein do not constitute research, investment advice or trade recommendations and do not necessarily represent the views of all AB portfolio-management teams and are subject to revision over time. Hosted on Acast. See acast.com/privacy for more information.

Richard Wilson, CEO and founder of the Family Office Club, shares his experience and insights into high-net-worth family wealth management. Richard has witnessed changes in the definition of a family office, how some wealth management firms try to masquerade as multi-family offices, and how families should design their game boards. He also shares his views on how large families can become private equity firms themselves and the value of applying a private equity playbook to family assets. Lastly, he touches on trends in wealth management related to generational transfer and ESG, emphasizing the importance of passing on values and wealth and working together to ensure a successful transition.[00:01 - 07:56] Opening SegmentRichard's brief background and careerA family office is a full balance sheet investment solution for an ultra-wealthy familySome wealth management firms call themselves multi-family offices to target more affluent clients[07:58 - 12:35] Investing in Health and Wellness: What Wealthy Families Need to KnowHelping families design an approach to acquire deals at a superior valuationPost Covid, people move faster to take advantage of opportunitiesSmart families invest in health & wellness programs[12:36 - 18:19] Taking Advantage of Opportunities to Self-Regulate and Live LongerInvesting in health is more important than moneyNot having caffeine or alcohol can have positive impacts on wellbeingSleep is essential; less than 6 hours a night is unhealthy[18:20 - 26:07] Unlocking Capital Allocation Strategies for New and Multi-Generational Family OfficesEmail blasting and following up excessively do not work when trying to access family office investorsAdding value, standing out, concise communications, and a unique offering are keyReferrals and knowing the industry help speed up the process[26:08 - 35:19] Exploring the Trends of Impact Investing and Generational Wealth TransferYounger generations are more likely to focus on ESG and impact investing than older generationsSuccessful families outsource investment management, focus on areas they are passionate about, and pass on values rather than just wealthFamily values should be integrated into everyday life and reinforced with rewards and consequences[35:20 - 38:02] Closing SegmentConnect with Richard through the links below!Quotes:"The smartest families focus on just one to three games that they get good at." - Richard Wilson"Passing on your values is more important than passing on the wealth because the values protect the wealth and the family from destroying each other. They will also protect the ability to regrow wealth. If the wealth is lost or damaged, the values will bring it back." - Richard WilsonConnect with Richard!Website: www.FamilyOffices.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

The rising generation today is different. The idea that you have to earn credibility over decades doesn't make as much sense as it did in the past.Join us as we explore how Greg McCann, founder and board member at Generation6, and Jesus Casado, one of the advisors at Generation6, work to empower the younger generations and help families adjust to challenges. They discuss the design flaws in existing family offices, solutions for improvement, and the European families' ability to remain unified and prosperous for hundreds of years through their key characteristics such as family cohesion, financial benefits, emotional connection to business endeavors, and being proud stewards of their wealth. Tune in now to learn more![00:01 - 07:05] Opening SegmentIntroducing Greg and Jesus to the showGreg is a founder and board member of Generation Six, a family enterprise consulting firmJesus is an advisor of Generation Six, focusing on succession issues and governanceGeneration Six has an innovative approach to family business consulting with a holistic approachGeneration Six helps families through leadership transition by developing leadership and helping with the handoff[07:06 - 14:05] Uncovering the Design Flaws and Hidden Assumptions of Family OfficesProfit is necessary for life, but not a good reason for livingLack of purpose and ownership are design flaws in family officesPrivate equity is becoming more widespread in Europe, but families still prefer long-term investments[14:06 - 22:32] The Gathering: Discussions about Family OfficesGreg shares what The Gathering is and how it was writtenThe book was meant to be provocative and not a templateWealthy people do not think of themselves as rich and would be better[22:33 - 30:27] Family Cohesion, Financial Benefits, Business Emotional Pride, and Stewardship of WealthEuropeans tend not to show wealth and have a negative perception of it compared to the USThe rising generation needs to create their own space for self-identification and be perceived as credible in some fieldFamilies need four types of cohesion (family, financial, business & emotional) to survive over time[30:28 - 32:03] Closing SegmentConnect with Greg and Jesus through the links belowGreg and Jesus' daily practiceFinal wordsQuotes:"If the human capital is being sacrificed at the cost of financial capital, nobody wins." - Greg McCann“It's not up to the senior generation to be the drivers of change. Transformation, and especially digital transformation, should be led by the next generation." - Jesus CasadoConnect with Greg and Jesus!Website: www.Generation6.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

There's a common denominator across globalization, macroeconomics, geopolitics, and climate–it's geography. Our geography is getting increasingly complex, and Parag Khanna is here to share with us the different driving factors that drive this complexity and how these affect businesses and economies around the globe.Parag Khanna is the founder and CEO of Climate Alpha, an AI-powered analytics platform to forecast asset values and future-proof global real estate, and founder & managing partner at FutureMap, a data, and scenario-based strategic advisory firm. In this episode, Parag shares his insights on why climate change has become paramount to him, believing that geography is the common denominator in all topics, including climate change. Parag discusses the need for individuals, investors, and governments to anticipate and plan for global population changes due to climate change. He touches upon the importance of mass migration in the future and Mexico's role as the world's second-largest repository of displaced people. Tune into this episode for more information about how you can invest in high-growth areas that are climate resilient![00:30 - 08:17] Opening SegmentParag's brief background and careerClimate Alpha was founded to adapt and retrofit American real estate for climate change[08:18 - 18:49] Grappling with Mass MigrationFiguring out where 400 million people can live through climate, economic, and infrastructure modelsEconomy and climate as the main reasons why mass migrations occur across the globe[18:50 - 28:19] A Sustainable Future Through Investing in Climate ResilienceThe state of immigration in various nationsParag shares how women experienced the shorter end of the stick during the pandemicClimate Alpha provides insights on where to invest in climate-resilient locations[28:20 - 36:39] Exploring the Benefits of Nearshoring and DeindustrializationNearshoring can be used to combat deindustrializationUS, Canada, and US Mexico have two busiest borders on the planetGlobalization is not going away, but regionalization is increasing[36:40 - 39:12] Closing SegmentConnect with Parag through the links belowParag's daily practice: 5 minutes of mindfulnessQuotes:"Build in the right places. Build for everyone. That's how you have an economy that's looking forward, a society that's looking forward, a productive place, and that's what I want America to be." - Parag Khanna“The world is more complex than it's ever been in the history of human civilization, where geopolitics affects economics, economics affects climate, climate affects infrastructure, and infrastructure affects society.” - Parag KhannaConnect with Parag!www.ClimateAlpha.ai www.ParagKhanna.com Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Are you seeking expert guidance to build a harmonious family dynamic and reach your goals?In this episode, Paul Edelman talks about empowering individuals and families to reach their goals and find an identity that doesn't rely on wealth or affluence. He discusses NextGen leadership challenges when it comes to self-identification and decision-making. Paul breaks down his concept of "creative tension" and touches on how experts can help families develop structures for collaborative decision-making. Tune in now for this insightful episode!Paul Edelman helps individuals, families, and their advisors more effectively achieve their goals. He earned his Ph.D. in Psychology at Harvard University, where his research and teaching focused on group, family, and board dynamics.[00:01 - 06:23] Opening Segment• Paul's experience as an angel investor, board chair, and advisory board member• How parents can provide their children with the space to explore who they are and who they want to be• How having one goal is straightforward, but having two goals can create conflict[06:24 - 13:08] Developing Good Judgment and Decision-Making• The challenges the NextGen leadership community are facing• Why families have difficulty with collaborative decision-makingDecision-making should be systematic and guided by a model that everyone learns to follow[13:09 - 19:14] A Model-Based Approach to Decision-Making for Family Businesses• Paul breaks down the creative tension model• Every model is incomplete, but some are useful• Behavioral finance studies show people are motivated by what they don't want• Model-based decision-making to develop family skills for self-sufficiency[19:15 - 25:35] Unlocking Solutions to Generational Transitions• Why fear-based selling is a common but ineffective strategy• Advisors should engage with families by asking questions to access relevant information• Parents want the next generation to be comfortable but not spoiled[25:36 - 31:44] Closing Segment• Paul's advice on cultivating self-awareness and understanding your feelingsUsing self-awareness and understanding feelings as data to solve problems• Using models to think systematically and come up with reasonable solutionsWant to connect with Paul? Follow him on LinkedIn. Head to Edelman Coaching, an excellent resource for family offices!Key Quotes:“The minute you have two goals side by side, there's the potential for them to come into conflict.” - Paul Edelman"Fear is a good short-term motivator, but over the long term is corrosive." - Paul Edelman"The more information that we have, the better the quality of the decisions that we'll make."  - Paul EdelmanDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

How can partnering with the right people and taking a conservative approach to financing paves the way to real estate success?Join us as we sit down with Meg Epstein and learn how she built an institutional platform with a billion-dollar portfolio of projects across industrial and mixed-use properties. She shares her advice on how to break into real estate investing, including spending time at a larger brokerage shop, partnering with the right people, and taking a conservative approach to finance. Meg talks about her commitment to paying it forward and providing opportunities for other women in the field. Don't miss this inspiring conversation with one of Nashville's leading real estate developers!Born in California but today calls Nashville home, real estate developer Meg Epstein has over a decade of experience creating efficient, modern lifestyles for people where it matters most: their homes and neighborhoods. Her passion is developing and establishing spaces that support whole living and simplify home and work life for individuals.[00:01 - 07:24] Opening Segment• How Meg ended up building Ca SouthThe idea to bring Nashville her sense of design and style of building homes• Meg got her start in real estate by working on a 60,000-square-foot French chateau projectHow she pivoted to commercial real estate when she moved to Nashville[07:25 - 15:07] From Outsider to Real Estate Developer• How one entrepreneur turned ignorance into a billion-dollar platformBought a for sale by owner site in Nashville and saw potential in the waterfront• How Meg took over the project and redesigned it, value engineering it and making it successful• Doing around $1B worth of projects in Nashville and branching out into other markets[15:08 - 22:40] Diversifying Your Portfolio in a Challenging Market• The Southeast and its pro-business environment• Meg started investing in real estate without any prior experienceHow she gained a competitive advantage by being a woman in the industry• Meg shares how she sold two industrial deals for 25% more than expected[22:41 - 32:19] Closing Segment• Meg shares advice to aspiring developersSpend time in a brokerage shop & get exposure to investment real estate• Real estate development needs discipline & partnersWant to connect with Meg? Follow her on LinkedIn & Instagram. Visit CA South Development to develop modern, lifestyle-efficient projects!Key Quotes:“There are 2,500 things that go into a project from the first time you identify a site to the time you do the press release at the end."  - Meg EpsteinDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Are you interested in differentiating your company from competitors while giving back to the community?In this episode, Nicole Juday explores how leveraging the foundation to engage with the company can create opportunities to differentiate it from competitors and attract talent. She stresses how to increase the capacity to give away more money effectively and responsibly, how the world of philanthropy has changed over the years, and how to restructure a foundation. Nicole shares her insight on ways to bridge the gap between those with resources and those without and how to manage the increasing demand for resources. Listen to explore what it takes to establish and run a successful foundation!Nicole Juday Rhoads has 20 years of experience in the nonprofit sector, designing programs and overseeing their implementation. She was hired at the IDEAL Industries Foundation in 2021 to align philanthropic activity with corporate strategy and to increase impact.[00:01 - 06:58] Opening Segment• Nicole Juda discusses 20 years of nonprofit experience and a family business storyHow to align philanthropic activity with corporate strategy and increase the impact• Nicole's career in the nonprofit sector developing programs, fundraising, and doing significant gifts[06:59 - 13:41] Revamping the Foundation• Restructuring, updating the mission statement, and making an impact with philanthropy• Structural, legal, and cultural differences between the operating company and family office• The parameters and guidelines for making decisions• How to ensure good policies and insurance for board members[13:42 - 20:37] Protect Your Portfolio from Inflation• How the construction industry is a fast and effective way to build wealth•  Addressing issues and problems that concern the company, its customers, or their communitiesThe Ideal Industries Foundation• The importance of honest communication between funders and nonprofits[20:38 - 27:19] Trust-Based Giving to Nonprofits• The ego of funders and agents of transformation• Why building a network of potential implementation partners is key• Focus on economic development and quality of life in the community• Best practices for foundation work and diversifying the construction trades[27:20 - 35:44] Closing Segment• Nonprofits have difficulty reaching national donors, as opposed to local donors• Learn as you go and not get paralyzed by perfectionism• Make sure investments align with the mission of the foundationWant to connect with Nicole? Head to Ideal Industries Foundation and increase equity and prosperity for all!Key Quotes:“When nonprofits feel that they are competing for funding, it's just really hard to be very honest.” - Nicole Juday “You just need to learn as you go. Do the best you possibly can, but don't get paralyzed because maybe you're not doing things perfectly.” - Nicole Juday Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

How does Dad Guild support fathers' personal growth and development as parents and individuals?Join us as we discuss the importance of creating a safe space for fathers to engage in meaningful conversations about fatherhood issues and build meaningful connections. Keegan Albaugh addresses gender equality within the workplace and discusses the challenges of substance use and addiction, particularly within men's culture. Let's hear about Keegan's journey with Dad Guild and its mission to empower fathers!Keegan is the founder and Executive Director of Dad Guild, a grassroots nonprofit organization whose mission is to support and empower fathers by offering opportunities for connection, education, and community engagement.[00:01 - 07:29] Opening Segment• Keegan's background in conflict resolution, mental health, and exploring masculinity• Keegan started Dad Guild after realizing there were limited offerings for dadsOffering opportunities for connection, education, and community engagement• How the organization has grown to Vermont's largest fatherhood network[07:30 - 14:24] The Serious Issue of Men's Isolation: How to Fix It and Find Support• Men have half the number of friends as before and seven times higher suicide rates• Keegan provides multiple avenues for engagement with different interests and activitiesResearch shows people live longer, happier lives when they have friends• Life is a zero-sum game, and the guilt factor is challenging to overcome[14:25 - 21:03] How to Create a Safe Environment for Conversation and Support• Why taking time for self-care is important• Addiction can be complicated, and understanding it is key• Conversations about substance use and addiction are becoming more accepted• Modeling healthy behavior for children is important[21:04 - 27:48] Rewriting the Script for Gender Equality in the Workplace• The importance of taking time off and modeling a balanced life• Navigating social situations without alcohol can be intimidating and isolatingRewriting the script around substance use and self-care is important• Patriarchy still has an impact on workplace policies, such as family leave[27:49 - 33:44] Closing Segment• Parents need more flexible schedules and support from employers• Leaders should model taking time off to encourage employees to do the sameWant to connect with Keegan? Follow him on Instagram and Facebook. Head to Dad Guild, a supportive network of dads in your community!Key Quotes:“If we're trying just to be here all the time and not take time for ourselves and focus on our own self-care. We slowly deteriorate until the point where we're just miserable people to be around. ” - Keegan AlbaughDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Have you ever wondered how to build trust and inclusivity among family members in a family office? In today's episode, Mindy Kalinowski and Hannah Shue discuss the challenges of transitioning leadership to the next generation in family businesses and share their personal experiences of building trust with family members. They highlight the importance of intentional investment in identifying oneself outside the business and dive into multi-generational wealth management. They explain how inclusivity and ownership drive change and stress the importance of asking powerful questions to ensure a smooth leadership transition. Let’s dive in!Mindy Kalinowski Earley is Chief Learning Officer for Family Office Exchange. In her role, she fosters integrated learning programs for enterprise families and is responsible for developing the family learning community. Hannah June Shue is a lifelong learner, connector, and encourager. She is a third-generation leader in several of her family’s business ventures. She leverages this first-hand experience and expertise to coach and consult with other prominent families and emerging generations.[00:01 - 07:09] Opening Segment• Fox provides resources for families to navigate transitions and develop their people• 45 million US households will transfer $68 trillion in wealth over the next 25 years• What rising gen challenges include• Hannah's personal experience as a third-generation leader in her family's business ventures[07:10 - 14:19] Navigating Family Business Leadership Transitions• Next generation needs to know who they are before stepping into a leadership positionTransparency, clarity, and shared vision are critical for successful family governance structures• Willingness and openness from G2 to put in the work is crucial for success• Bringing in key advisors and building trust over time is important[14:20 - 20:59] Generational Differences in Family Businesses and Financial Families• The challenges of multiple generations working together in a family business or financial family• The importance of asking powerful questions and having open communicationWhy the idea of a collective family rather than separate branches or generations is suggested• Inclusion and ownership within the family are crucial for pushing through changes[21:00 - 28:15] The Complexities of Family Wealth• Having a business can provide shared learning opportunities and decision-making experiences• Hannah discusses leveraging family investments for learning opportunitiesHer journey of balancing individual identity with family ties• Mindy emphasizes the importance of personal development and leadership in rising gen programs[28:16 - 34:41] Closing Segment• Autonomy and belonging are both critical for the next gens in family systems• Some next gens are opting out of family enterprisesWant to connect with Mindy? Head to Public Office to create an environment where family office executives can meet and connect to share experiences!Key Quotes:“You can have the most wonderful structures and policies and constitutions that look really good and feel really good. But if you aren't living it out if you aren't developing your people, It's not going to work. ” - Mindy Kalinowski"The more you have clarity about what you're going to do together and what your shared vision is, it makes everything a little bit easier." - Hannah ShueDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

While financial questions are certainly important when evaluating investment opportunities, understanding how a sponsor will behave and respond in difficult situations is equally crucial. In this episode, Brian discusses the importance of assessing potential investment partners beyond their financial track record and how investors can gain valuable insights into a sponsor's character. He has great suggestions for using proxies to gauge behavior and response to adversity and tackles a question many investors struggle with: what is your Uber passenger rating? Listen and enjoy![00:01 - 02:52] Opening Segment• What is your Uber passenger rating?• Savvy investors know financial questions to ask, but character evaluation is harder• Using Uber passenger rating as a proxy[02:53 - 05:19] Questions that LPs Don't Ask but Should• Why your Uber rating could reflect your ability to manage relationships in business• How a person behaves in a one-time relationship reflects how they treat othersValuing relationships, customer service, and effective communication[05:20 - 07:28] Closing Segment• Low ratings - The negative implications of running a company• Why a five is unrealistic and a warning signKey Quotes:"Your behavior and how you treat others in a one-time relationship can be a telling indication of how you value relationships and communicate with customers or stakeholders." - Brian AdamsDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on  LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

How can advisors incorporate financial therapy skills and training into their practice?In this episode, Sonya Lutter delves into the exciting and rapidly evolving world of financial therapy. She emphasizes the need for empathy in financial planning and outlines ways to identify certified financial therapists. She discusses how the financial advisory business is evolving towards a more human connection-driven approach and stresses why asking clients what's on their minds and saving time to address their needs is vital. Take advantage of valuable insights that can help you navigate your financial journey!Sonya Lutter, Ph.D., CFP®, LMFT, serves as the inaugural Director of Financial Health and Wellness with Texas Tech University’s School of Financial Planning, where she leads curriculum and continuing education opportunities in financial psychology, financial therapy, and financial behavior. [00:01 - 08:04] Opening Segment• Why financial therapy has become more prevalentThe human side of financial planning and increasing stress about money• The difference between financial therapy and the psychology of financial planning• The controversy over whether a clinical degree is necessary for financial planners[08:05 - 16:09] The Next Evolution of Financial Planning• Financial therapy is the next evolution of financial planningClients want a human connection in financial advisory• Why some advisors are resistant to incorporating financial therapy into their practice• Advisors should do their work on stress and relationships before helping clients[16:10 - 24:19] Understanding the Physiological Effects of Stress on Financial Decision-Making• Physiological stress can be measured through skin temperature and impacts decision-making• How financial planning and relationships can be negatively impacted by stress• Advisors should take note of clients' physiological stress and look for indicatorsAsking clients what's on their mind is vital for addressing their needs[24:20 - 32:15] The Need for More Accessible Financial Education and Therapy• Why financial literacy is a broader challenge across the populationMore publicly accessible information needed on financial therapy and deeper financial questions• Scheduling intentional conversations about personal finance with spouse and children is important[32:16 - 37:57] Closing Segment• Openly discussing family finances with children can be beneficialHow children can learn about moneyWant to connect with Sonya? Follow her on LinkedIn and Twitter.  Visit Enlite, bridging the gap between financial planning and mental health. Key Quotes:“I think we are experiencing right now the next evolution of financial planning, and we don't even know that it's happening right now. ” - Sonya LutterDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

What are the benefits of creating a wealth roadmap for families, and how can it help grow human capital and positively impact the community?In this episode, Kristin Keffeler dives into the importance of wellness in family businesses and wealth management. She discloses how to create a wealth roadmap for families and ensure their financial resources are used to grow human capital and positively impact their community. She touches on common tripwires that younger generations face in family businesses and emphasizes the significance of addressing these challenges to ensure successful transitions. Let’s discover the relationship between wealth and well-being, specifically for rising generations!Kristin Keffeler, MSM, MAPP, is a thought leader at the forefront of a global shift in family wealth advising, known as Wealth 3.0. She guides affluent and enterprising families, rising gen, and the professionals who support them in embracing the positive power of wealth and doing the “inner work of money."[00:01 - 07:55] Opening Segment• How Kristin guides affluent families in embracing the positive power of wealthHelping families integrate wealth well into their lives• Rsing gen lacking knowledge and support to understand the landscape of family wealth advising• Working with whole family systems and building skills to include privately held enterprise[07:56 - 16:22] The Importance of Wellness in Family Enterprise• Physical, emotional, and spiritual well-being must be in alignment for a well-lived lifeIncorporating health and wellness into family businesses is crucial to success• How families often prioritize technical aspects over mental and physical wellbeing• Why tending to human capital is vital for multi-generational success[16:23 - 24:06] Creating a Wealth Roadmap• Wealth roadmap process helps families connect financial resources with human capital growthThe impact wealth should have on family and community• The common tripwires for younger generations in family businessesIdentity, communication, and preparation for leadership roles[24:07 - 31:47] Navigating Family Wealth and Creating an Impactful Life• Building identity capital is essential for pursuing a path of contribution• Why growth mindset and grit are essential character traits to develop for rising gen• How diminished motivation to earn income can lead to a lack of sense of mattering and depression• Kristin's journey in writing The Myth of the Silver Spoon[31:48 - 39:44] The Challenges & Benefits of Wealth for Rising Generations• Our relationship with money and wealth is cluttered and complexWealth creates both benefits and detriments to growth and wellbeing• Rising gens with clarity of identity has a unique position for creating change• Clearing emotional and psychological clutter around money, work, relationships, and identity[39:45 - 44:35] Closing Segment• The common traits among thriving rising gensGrowth mindset, grit, mastery orientation, unconditional positive relationshipsWant to connect with Kristin? Follow her on LinkedIn. Head to Illumination360  to identify the “clutter” that family money can bring & clear a path to thriving!Key Quotes:“If we're not tending the human capital, the wealth will eventually dissipate because without the people awake and alive and ready to do something with it, it'll just get consumed.” - Kristin KeffelerDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

Are you a family business owner looking to build a resilient leadership team?Today, we have the pleasure of speaking with Doug Gray, a seasoned consultant with the Family Business Consulting Group. With over 25 years of experience in leadership development, Doug shares his insights into what it takes to build strong and resilient leaders within family businesses. This episode provides valuable insights into family businesses built on effective communication, distributed ownership models, and tips on how to assess NextGen leaders effectively. Tune in now!Doug Gray is a father, husband, consultant, author, and former adventure racer who can still skate backward. He is a consultant with The Family Business Consulting Group where he specializes in leadership development, succession planning, and building family unity in enterprising families.[00:01 - 08:36] Opening Segment• Doug shares his expertise in leadership development, succession planning, and building family unityWhat the Family Business Consulting Group does• Working with affluent families and found boarding schools to be transformative for students• Doug's background in positive psychology and coaching protocols[08:37 - 16:59] The Premier Family Business Consulting Group• Why The FBCG focus is on leadership development, specifically working with NextGen leadersA vetting process to match the best consultant for the engagement• How the definition of NextGen has changed over timeThe trend towards more involvement from younger generations in the family[17:00 - 25:01] Revolutionizing Family Business Leadership with Innovative Assessment Techniques• Family businesses struggle with migrating to digital platforms and are concerned about security risks• What's causing older generations to worry about their successors' capacity• The trend towards innovation and the Assess NextGen 360 leadership assessmentBusiness, ownership, individual capacity, and learning[25:02 - 33:11] Navigating Family Dynamics in Business Ownership• Feedback is important but must be confidential and ethical• How active engagement from leadership leads to a successful implementation of feedback• Dos and don'ts for distributed ownership• The importance of effective communication and teamwork in family businesses[33:12 - 37:49] Closing Segment• How using "I statements" and sharing personal experiences can be powerful tools in communication• Why involving in-laws in family business decisions can be important• Consultants can play a role in supporting the team approach to the family systemWant to connect with Doug? Head to The Family Business Consulting Group, and explore what’s best for your family and business! Key Quotes:“When we're all tossed into a less familiar environment, we can grow and learn.” - Doug Gray“The top two problems that every family has is communication and conflict.” - Doug GrayDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

How can purpose-built systems revolutionize family office management?Today’s guest is Christian Grupp, CEO of Entole, a family office command center. We explore the intersection of family office management and technology and how they can create purpose-built systems rather than large monolithic platforms. We discuss the current state of technological solutions for family offices, with differing approaches being taken by different offices. We touch on the importance of a family constitution and the evolution of family offices toward hybrid or digital models. Join us as we dive into this fascinating topic and uncover how technology can help shape the future of family office management.Christian has nearly two decades of experience with Family Offices and Technology through serving as an executive of his family’s MFO and driving the growth of businesses through people and technology systems.[00:00 - 08:11] Opening Segment• Christian’s experience in family offices and technologyHow Entole is a command center that pulls together purpose-built systems for family offices• Family offices touch many service areas, making digital infrastructure vital• Rising generations expect a digitized experience and technological optionality[08:12 - 16:29] A Technological Solution for Family Offices• How family offices have unique technological solution setsMost people use specific tools that suit their needs and integrate them• All-in-one solutions may not keep up with innovation and governance needs• FOX provides research and best practices for family enterprise management[16:30 - 24:45] The Rise of Technology in Family Offices• The importance of family constitution in family governanceCommand center to monitor and push updates on the family constitution• Trend towards hybrid/digital/virtual family offices• Technology as a service delivery mechanism, not a replacement for a personal touch[24:46 - 33:07] The Challenges of Developing a Command Center in the Digital Age• The difference between a digital and virtual family office• Why do people want both a digital & a physical experience?• Fewer skilled technologists understand how to address issues within the family office[33:08 - 40:11] Closing Segment• Family offices aren’t well known, so there’s limited awareness of the industry• Building a technology product for family offices takes yearsWant to connect with Christian? Follow him on LinkedIn. Visit Entole, a new place for your private capital!Key Quotes:“Figuring out how to have infrastructure that digitally interconnects with all of the different things that touch a family’s life is absolutely vital” - Christian Grupp“We don’t want to go replicate what’s out there; we want to focus on how are we bringing things together.” - Christian GruppDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

What stories do you want to pass down to future generations, and how can StoryKeep help you preserve and share them?Today's episode features Jamie Yuenger, founder of StoryKeep, who discusses the growing trend among multi-generational family offices and businesses to document their history professionally. She explains how the power of media has made it easier to share valuable family stories for future generations. From audio-based works to full-fledged documentary films and private podcasts, Jamie shares how StoryKeep has evolved to meet the needs of families looking to create a lasting legacy. Join us as we explore the power of media in connecting families and creating lasting legacies!Jamie Yuenger is the founder and principal of StoryKeep, a company that creates films and books that document family and business stories. For over a decade, Jamie's team has helped multi-generational and business-owning families honor and share their legacies.[00:01 - 08:43] Opening Segment• The growing trend among multi-generational families to professionally document their historyHow the power of media has made it easier to share valuable family stories with others• Jamie shares how the story’s work has evolved over time• What led Jamie to start StoryKeep[08:44 - 16:38] Creating Legacy Projects• StoryKeep specializes in creating custom legacy projects, including films and private podcastsThe discovery conversation, production, and pre-production• Emotional investment is key in connecting with clients and their families[16:39 - 25:05] The Essence of Family and Business Legacies• Alternative investments can help safeguard portfolios in the current market environment• Film and podcasting can be tools for emotional connection and community building within families• Private podcasting is a niche that offers unique opportunities for documenting family stories• Best practice involves testing concepts and adjusting based on feedback from the group[25:06 - 34:40] Closing Segment• Tips for compelling storytelling and connecting with rising generations• Working together to identify interests and build buy-in• Three things often left out of personal storiesWant to connect with Jamie? Follow her on LinkedIn and Instagram. Head to StoryKeep to build a legacy across generations!Key Quotes:“If we don’t have that emotional investment or experience, then we’ve missed out on the power of what we’re doing.” - Jamie Yuenger“One of my main goals is trying to educate advisors about how film, in particular, can be a tool for connection, for being a witness to someone’s experience and to widening the conversation and bringing more voices into a conversation.” -  Jamie YuengerDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.

How has the perception of psychedelic medicine evolved over time, and what role does Empath Ventures play in this change?In this episode, we are joined by Brom Rector, founder of Empath Ventures, a VC fund that invests in early-stage psychedelic medicine companies. Brom shares his experience in finding investors interested in the space and the importance of targeting those who have already experienced the transformative effects of psychedelics. He discusses his personal journey with psychedelics and touches on how psychedelics can be used to treat mental health issues. Brom highlights the potential for real estate professionals to invest in the emerging psychedelic industry and provides resources for learning more about it. Let’s dive in![00:01 - 07:12] Opening Segment• Investing in early-stage psychedelic medicine companiesBrom introduces Empath Ventures• Psychedelics as a form of experiential medicine that gives you a perspective shiftPeople who have had transformational experiences with psychedelics[07:13 - 13:41] A Fund Focused on Psychedelic Medicine• Psychedelic medicine has defining characteristics of an experience and long-lasting benefitsInvesting in both natural and synthetic compounds• Brom’s personal experience with psychedelics and what led him to start the fund[13:42 - 20:29] Exploring the Regulatory Landscape and Business Opportunities• Pharma companies are working on getting psychedelics approved by the FDA through clinical trials.• How companies are inventing new psychedelic drugs and creating infrastructure and accessories for psychedelic therapy• How psychedelics can be used to treat depression, anxiety, and PTSDCurrent treatments like SSRIs are not effective for everyone[20:30 - 27:48] Why Investors Turn to Psychedelics• Current psychiatric drugs have side effects and often don’t work wellAnti-anxiety drugs like benzodiazepines can be addictive and don’t solve the root problem• Psychedelic-assisted therapy is showing promise in treating depression, anxiety, and PTSD• Investment in the psychedelic industry could redirect funds from ineffective psychiatric drugs[27:49 - 34:38] The Growing Acceptance and Investment Opportunities in Psychedelics• Popular media portrayals of psychedelics have helped shift public perception• Biotech companies are exploring the use of psychedelics for disorders beyond mental healthAlzheimer’s and stroke recovery• How retreats and resorts in other countries can be good cashflow-generating businesses[34:39 - 42:28] Closing Segment• The opportunities and risks of investing in psychedelics• Brom shares resources for learning about psychedelicsWant to connect with Brom? Follow him on Twitter. Head Empath Ventures, funding the future of psychedelic medicine!Resources Mentioned:How to Change Your Mind - Michael PollanKey Quotes:“My general take on drugs, including alcohol and even caffeine, is that they work better the less frequently you do them. So pace yourself.” - Brom RectorDownload our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/Connect with me on LinkedIn!LIKE, SUBSCRIBE, AND LEAVE US A REVIEW on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on. Thank you for tuning in, and Stay Tuned for the Next Episode COMING SOON! Hosted on Acast. See acast.com/privacy for more information.