Capital Club

This episode of the Capital Club Podcast features an in-depth conversation with Mark Tepsich, a seasoned family office veteran, and our host, Brian Adams. Mark shares his journey from starting an internship at a family office in 2008 to becoming an influential advisor for family offices across the Americas. Drawing from his experiences, Mark discusses the unique challenges of managing wealth for multigenerational families, the importance of focusing on family dynamics over financial optimization, and strategies for engaging the next generation. The conversation addresses the impact of generational transitions, the nuances of governance, and the evolving landscape of direct investments by family offices in private equity. Furthermore, Mark highlights the importance of listening to family members' needs and creating a positive user experience within family offices to ensure future engagement and success.Connect with MarkConnect 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!

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!

What are the unseen emotional investments and risks accompanying family wealth management, and how can families navigate these to ensure generational success?In this episode, our guest is Thomasina Williams, a pioneering family dynamics consultant who specializes in guiding ultra-high-net-worth families through the complexities of generational wealth transition. Thomasina sheds light on the often-overlooked human elements of family wealth, emphasizing the critical need for investment in family relationships and effective communication to safeguard and perpetuate wealth across generations.[00:01 - 07:55] The Overlooked Risks in Family WealthThe internal family dynamics and external economic factorsThe significance of nurturing family relations to maintain wealth across generationsThe role of effective communication in mitigating risks associated with wealth transition[07:56 - 14:34] Communication as a CornerstoneCommunication breakdowns can be the biggest threats to family unity and wealthThe necessity of developing communication skills within family structuresTechniques to improve dialogue among family members to foster a healthier family enterprise[14:35 - 21:29] Conflict Management and Change NavigationStrategies to manage conflicts effectively to prevent long-term damage to familial relationshipsImportance of addressing and navigating generational changes sensitivelyUnderstanding the psychological impacts of unresolved conflicts within family businesses[21:30 - 28:16] Implementing Effective Family GovernanceThe role of governance structures in stabilizing family businessesHow leadership from the top influences family dynamics and business successTechniques for fostering leadership skills among family members[28:17 - 34:14] Tools for Future SuccessIntroduction to practical tools and frameworks to manage family dynamicsThe impact of external consultants in facilitating difficult conversationsFuture directions in family enterprise consulting focusing on women's roles in family businessesKey Quotes:"One of our biggest challenges I think as human beings is just to love people for who they are." - Thomasina Williams"The real investment needs to be in our families, who are the actual bearers of the legacy we wish to preserve." — Thomasina WilliamsConnect with Thomasina!Website: https://www.developfamilyleaders.com/ This 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.Connect with me:https://www.linkedin.com/in/brian-c-adams/ (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 the trauma embedded in our DNA influence our personal and professional lives, and what can we do to overcome it?In this episode, Monica Clare, a global consultant specializing in conflict management and strategic leadership, shares her profound insights into the impact of individual, intergenerational, and collective trauma on business and personal relationships. With a rich background that blends finance, mediation, and psychological safety, she provides actionable strategies for fostering healthier, more creative, and resilient organizations. The conversation delves into the science behind trauma, the importance of self-awareness, and the transformative power of addressing inherited conflicts.[00:01 - 06:26] Unpacking Conflict: Roots and RecognitionUnderstanding the layers of conflict: personal, familial, and systemicThe role of self-awareness in recognizing and addressing inherited conflictsImportance of acknowledging historical and cultural impacts on personal behavior[06:27 - 12:40] Navigating Through Awareness and AcceptanceThe first steps in conflict resolution are awareness and acceptance of underlying issuesSelf-regulation techniques to manage personal triggersThe significance of personal responsibility in healing and transformation[12:41 - 18:23] Implementing Change: Theory and PracticePractical applications of theories like polyvagal and epigenetics in everyday interactionsThe benefits of creating a supportive environment for open dialogue and self-reflectionHow structured communication practices can alleviate longstanding familial conflicts[18:24 - 24:01] Cultivating Compassion and Establishing BoundariesDifferentiating between empathy and compassion in conflict resolutionThe role of boundaries in maintaining healthy personal and professional relationshipsStrategies for effective negotiation and maintaining boundaries within family businesses[24:02 - 29:54] Legacy and Leadership: Preparing for TransitionPreparing family businesses for generational transitions through effective leadership and legacy planningThe importance of acknowledging and integrating the wisdom of elder generationsTechniques for ensuring smooth transitions and the continued success of family businessesKey Notes:"Responsibility is the ability to respond. If I'm responsible for myself, I'm able to respond to my own reactions, my own issues." - Monica Clare"If you're in a position of leadership, acknowledging that we're all shareholders in humanity's legacy is crucial for transformative leadership." - Monica ClareConnect with Monica!Website: https://www.monicaclare.ca/ This 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.Connect with me:https://www.linkedin.com/in/brian-c-adams/ (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 is the shifting financial landscape affecting estate planning and wealth transfer between generations?In this captivating episode of the Capital Club podcast, host Brian engages with Anthony Venette, Director of Business Valuation & Advisory at DeJoy & Co. Anthony brings to the table his expertise in estate planning and business valuation, particularly focusing on optimizing gift and estate tax strategies for business owners. As the financial world grapples with demographic shifts and changing tax laws, Anthony sheds light on the critical intersection of income tax, estate tax, and business valuation, offering valuable insights into strategic wealth transfer across generations.[00:01 - 08:33] Introducing Anthony VenetteAnthony's role in business valuation and estate planningThe demographic shift impacting business and wealth transferThe importance of understanding the nexus between generations in estate planning[08:34 - 16:01] Navigating the Estate Tax LandscapeUpcoming changes in tax exemption and their impactStrategies for optimizing gift and estate tax planningThe importance of proactive planning in estate management[16:02 - 24:20] Advanced Estate Planning TechniquesThe use of carried interest in estate planningDifferences between European and American waterfall structures in fundsThe strategic benefits of early planning in estate tax optimization[24:21 - 32:12] The Role of Family Offices in Estate PlanningHow family offices can enhance wealth transfer strategiesThe significance of closely held business discounts and appreciation in estate planningThe impact of legal structures on wealth management[32:13 - 38:07] Carried Interest and Derivative SalesIn-depth exploration of carried interest and its role in estate planningUnderstanding the vertical slice rule and carried interest derivative salesThe need for expert guidance in complex estate planning scenariosKey Notes:"We sit at the nexus point between generations, facilitating that handshake from baby boomers to Gen X and millennials." - Anthony Venette"Estate planning isn't just about the numbers; it's about establishing and preserving legacy." -Anthony VenetteConnect with Anthony!Website: https://www.teamdejoy.com/contact-us LinkedIn: https://www.linkedin.com/in/anthonyvenettecpaabv/ This 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.Connect with me:https://www.linkedin.com/in/brian-c-adams/  (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.

Could understanding the dynamics of succession planning in family businesses offer clues to navigating personal and professional transitions more effectively?In this episode, Brian engages with guest Shelley Forsythe in a deep dive into the intricacies of succession planning in family businesses. Shelley, an expert in family governance and legacy planning with BMO Family Office, shares her insights on the importance of early planning, the role of professional advisors, and the emotional complexities involved in handing over the reins to the next generation. The conversation uncovers common pitfalls in succession planning, the significance of communication and external support, and how these elements contribute to the successful transition of leadership and legacy within family enterprises.[00:01 - 07:21] The Art of Succession PlanningSuccession planning in family businesses and its challengesThe importance of starting early and integrating technical and qualitative aspectsThe role of professional advisors in facilitating the process[07:22 - 14:24] Next-Gen Leadership and LegacyPreparing the next generation for leadership rolesBalancing personal passions with family business obligationsThe significance of independent board members in the transition process[14:25 - 22:06] The Family Meeting FrameworkStrategies for effective family meetingsThe importance of neutral venues and inclusive agendasIntegrating fun and meaningful activities to strengthen family bonds[22:07 - 29:14] Navigating Family DynamicsAddressing the emotional aspects of succession planningThe role of family councils in larger family enterprisesAdapting to generational changes within the family business context[29:15 - 37:16] Cultivating a Sustainable Family LegacyThe significance of aligning family values with business goalsUtilizing family councils for generational representation and decision-makingThe role of philanthropy and social responsibility in the family legacyKey Notes:"Succession planning is not just about business transition; it’s about preparing the family for a future that sustains their values, legacy, and relationships." - Shelley Forsythe"The best time to start planning your succession is yesterday; the next best time is today." – Shelley ForsytheConnect with Shelley!Website:https://privatewealth-insights.bmo.com/en/experts/shelley-forsythe/ LinkedIn: https://www.linkedin.com/in/shelley-forsythe-fea-cfp-tep-mfa-p-cepa-2171b220/ This 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.Connect with me:https://www.linkedin.com/in/brian-c-adams/ (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.

Can the right estate planning approach preserve wealth and prevent family discord, or is the dissipation of wealth an inevitable outcome of generational transitions?In this episode, Brian sits down with Syd Walker, an estate planning consultant specializing in serving ultra-high-net-worth families. Their conversation delves into the nuanced world of estate planning, asset distribution, and the evolving concept of generational wealth management. Syd shares his journey from a campus minister and foreign missionary to a trusted advisor in the family office space, offering unique insights into creating actionable plans that resonate with family values and long-term objectives.[00:01 - 06:22] The Evolution of Estate PlanningSyd's transition from ministry to estate planningThe impact of family office conferences on industry practicesThe importance of authentic engagement in wealth management[06:23 - 13:08] Servant Leadership in Wealth ManagementThe concept of a 'servant's heart' in serving wealthy familiesThe role of empathy and understanding in financial advisoryChallenges of aligning family dynamics with wealth preservation[13:09 - 20:14] Personal Stories and Professional InsightsSyd's personal experience with family and wealthCase studies illustrating the scope of his estate planning workThe process and importance of comprehensive family assessment[20:15 - 27:42] Entrepreneurial Journey and Client EngagementSyd’s experiences and realizations as an entrepreneurThe significance of problem-solving and education in wealth managementThe process of engaging with families and creating tailored action plans[27:43 - 34:11] Legacy Beyond WealthStrategies for defining and preserving a family legacyThe role of governance and practical legacy in estate planningClosing thoughts on achieving wealth success and maintaining family unityKey Notes:"When you put yourself in the position of a servant, that's exactly how a lot of people will treat you." - Syd Walker“One of the commonly held thoughts on why most families fail is a lack of trust.” - Syd WalkerConnect with Syd!Website:https://www.prosperispartners.com/ LinkedIn:https://www.linkedin.com/in/sydwalker/ This 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.Connect with me:https://www.linkedin.com/in/brian-c-adams/  (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 high-net-worth individuals protect their digital lives from increasingly sophisticated cyber threats? In this episode, Chris Pierson, a renowned cybersecurity expert, discusses the dynamic and fast-evolving nature of cyber threats, especially against high-net-worth individuals and family offices. They delve into the complexities of digital executive protection, the nuances of cyber risks for corporations versus individuals, and practical steps for enhancing cybersecurity. The conversation illuminates the multi-faceted approach required to safeguard digital assets, highlighting the importance of active defense and the necessity of adapting to the ever-changing cyber landscape.[00:01 - 07:10] The Ever-Changing Cyber Threat LandscapeThe rapid evolution of cyber threats and their impact on families and corporationsThe sophistication of cybercriminals and nation-state actorsThe personal experience of cyber threats by high-profile individuals[07:11 - 14:35] Cybersecurity Dichotomy: Professional vs. PersonalThe disparity between cybersecurity measures in family offices and personal livesThe concept of being a constant target regardless of one's role or positionThe importance of a holistic approach to cybersecurity across all facets of life[14:36 - 21:33] Practical Cyber Defense StrategiesEmphasis on active defense and practical steps to improve cybersecurityThe critical role of education in combating cyber threatsRecommendations for implementing robust cybersecurity measures in daily life[21:34 - 26:32] Balancing Convenience and SecurityThe challenge of reducing friction while maintaining high-security standardsPersonal anecdotes and examples of effective cybersecurity practicesThe relationship between user experience and cybersecurity effectiveness[26:33 - 33:37] Emerging Cybersecurity Trends and Personal InsightsDiscussion on new and not widely reported cybersecurity threatsPersonal routines and practices that contribute to peace of mind in a digital worldThe significance of staying ahead of cyber threats through proactive measuresKey Notes:"Once something is stolen digitally, it's gone forever. That's why protection is so important." - Chris Pierson"The goal is to try to get the individual to move as far as they can into a better place from a cybersecurity and privacy perspective." - Chris PiersonConnect with Chris!Website:https://blackcloak.io/ LinkedIn:https://www.linkedin.com/in/drchristopherpierson/ This 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.Connect with me:https://www.linkedin.com/in/brian-c-adams/  (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 understanding your family history empower you to make better decisions and create a lasting legacy?Today, our guest is John Seaman, an accomplished author, historian, and entrepreneur who has dedicated his career to helping families and organizations leverage their histories to shape their futures. John shares his unique perspective on the power of family narratives and how understanding the past can drive meaningful and sustainable decisions for future generations. He discusses the importance of going beyond mere genealogy and delving into the rich, complex stories that define a family's values, experiences, and identity.[00:01 - 05:29] The Circuitous Route to Family HistoryJohn's background in academic history and biographyTransitioning from historical consulting to focusing on family enterprisesThe personal anecdote that validated John's path in family history[05:30 - 10:43] The Power of Family NarrativesHow family history binds families together beyond just moneyThe role of family history in decision-makingThe importance of understanding the "why" behind family decisions[10:44 - 16:39] Best Practices for Capturing Family HistoriesGoing beyond genealogy and legacy films to uncover rich, complex storiesThe value of professional research and historical methodologyThe role of family representatives in initiating family history projects[16:40 - 22:18] Navigating Difficult Pasts and Generational DividesThe importance of confronting and learning from difficult family historiesHow younger generations can reimagine family values and find their place in the storyThe potential for difficult pasts to serve as narrative drivers for positive change[22:19 - 31:52] Engaging with Family Histories in the Modern AgeCommon pitfalls and the importance of emotional commitment and trustThe various formats for presenting family historiesThe value of making family histories accessible among family membersKey Notes:"Understanding our past helps us make meaningful and sustainable decisions for our family's future." – John Seaman"A legacy is not just transmitted, but it's also received, and it has to be received for it to carry forward from one generation to the next." - John SeamanConnect with John!Website:https://www.saybrookpartners.com/ This 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.Connect with me:https://www.linkedin.com/in/brian-c-adams/  (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!