The Mack Podcast

Join us for a conversation with Jake Williams and Robin Miller, co-founders of Fortified Risk Group. We discuss the current state of personal security for high-net-worth-individuals, the challenges within the personal security industry, and the importance of taking both physical and digital security measures in today's world.

Learn more about Mack International at www.mackinternational.com.

In this conversation, Covie Edwards-Pitt discusses her journey as an author and thought leader in wealth management, focusing on the importance of positive framing in addressing the challenges faced by wealthy families. She emphasizes the need for intentional parenting, the balance between support and independence for children, and the significance of agency in wealth inheritance. Covie also explores the dynamics of non-linear relationships, the implications of governance structures, and the often mishandled prenup discussions. The conversation highlights the necessity of redefining risk in wealth management to prioritize human relationships and effective communication.

Learn more about Mack International at www.mackinternational.com.

Scott Saslow discusses the concept of building a sustainable family office and the importance of having a clear purpose and mindset. He emphasizes the need for family offices to be robust and durable, built to last even if principals leave. He shares his own experience of starting a family office and the intentionality behind it. The conversation delves into the role of sustainable investing and the ability of family offices to leverage different forms of capital for impact. Saslow outlines five key building blocks for a sustainable family office: mindset, mission, structure, talent, and flexibility. The conversation concludes with a discussion on the paradigm shift in the management of family offices, where they are seen as opportunities rather than obligations.

To learn more about Mack International, please visit www.mackinternational.com.

The conversation delves into embedded family offices—often overlooked structures within family businesses—highlighting their blurred boundaries between family and business, along with the risks and challenges they pose. Experts stress the importance of proper documentation, controls, and systems to manage these risks, while also discussing the transition from embedded to standalone family offices. This transition requires careful planning, addressing psychological factors in business sales, and focusing on governance and risk management. The discussion covers best practices for pre- and post-sale scenarios, emphasizing comprehensive insurance, regular document reviews, and the involvement of neutral parties. The role of family offices in preserving legacies, fostering communication, and supporting philanthropy is also explored, with insights into the common traits of successful transitions.

Resources:

hotalinginsurance.com

theblumfirm.com

xylogenesis.com

To learn more about Mack International, please visit www.mackinternational.com.

Beth Rahn, founder of New Era Advisors, discusses the concept of non-concessionary investing and the importance of backing diverse and sustainable investment managers. She highlights the outperformance of teams with greater gender and racial diversity and emphasizes the opportunity for investors to generate alpha by allocating capital towards diversity initiatives. Beth also shares insights on the current landscape of LPs and emerging managers, the role of family offices in backing emerging managers, and the importance of relationship building in fundraising. She encourages family offices to ask the right questions and leverage their networks to find opportunities that align with their investment goals.

To learn more about Mack International, please visit www.mackinternational.com.

In this conversation, Brian Adams and Liz Handlin discuss the importance of a well-crafted resume and how to make it stand out to recruiters. They highlight common resume challenges and emphasize the need for resumes to be tailored to the specific audience. They also discuss the importance of addressing the problems a candidate can solve and the need for cultural fit in family office positions. Liz provides insights into her resume review process and how she helps clients improve their resumes. They also touch on the differences between resumes, CVs, bios, and deal sheets. They conclude by highlighting the importance of personal connections and relationships in the family office industry.

For more information on Mack International, please visit www.mackinternational.com.

In this episode, Brian Adams is joined by Arden O'Connor, Founder of Intent Clinical. Arden shares her personal story of dealing with family addiction and how it led her to start her company. We discuss the unique challenges of working with ultra high net worth individuals and family offices, including the prevalence of substance use and mental health issues in these populations. We also highlight the importance of navigating different generational cohorts and the need for individualized plans and multiple professionals to address the complex dynamics within families.

For more information on Mack International, please visit www.mackinternational.com.

Today, Brian is joined by John Castrucci and Ben Berger from RSM's family office practice. RSM is the leading U.S. provider of assurance, tax and consulting services focused on the middle market.

In this episode, they discuss how RSM defines and works with family offices, focusing on the needs of families throughout their wealth journey. They emphasize the importance of a holistic approach that goes beyond traditional accounting services and includes succession planning, governance, and operational aspects. The conversation also touches on the role of technology in family offices, the transition to the next generation, and emerging trends in the industry.

For more information on Mack International, please visit www.mackinternational.com.

In this episode, Brian C. Adams is joined by Angelo Robles, Founder of Family Office Association (FOA).

In this conversation, Angelo draws from his extensive experience with dynastic families, highlighting the crucial roles of culture, governance, and engagement across generations. He provides actionable advice for revitalizing struggling family offices, stressing the importance of fostering a strong culture, clear purpose, and accountability.

For more information on Mack International, please visit www.mackinternational.com.

In this conversation Brian is joined by Cindy Steeb. Cindy has worked in the family office/family trust company space for more than 25 years. She worked for four single family offices with increasing responsibility before launching her own consulting firm in 2017. She also wrote the very first draft of what is now the Ohio Family Trust Company Act. To share her perspective on private family trust companies, Cindy wrote Preserving Multigenerational Wealth: How a Private Family Trust Company Can Promote Family Harmony & Positive Family Dynamics which was published earlier this year.

For more information on Mack International, please visit www.mackinternational.com.