The Great Wealth Transfer: Strategic Planning, Family Values & Emerging Decision Makers

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 Segment

• Introducing Tom Geddes and Alice Paik
• Brown Advisory is a private, independent firm with clients across all 50 states and in other countries
• The importance of having a warm and engaging client-first mentality

[06:59 - 13:30] What Families Need to Know in 2023

• The threshold for setting up a single-family office has grown in recent years
• Multi-family offices are often used as a marketing term without fully understanding it
• Advice and service are two other vital components for families

[14:31 - 20:07] Exploring NextGen Education and ESG Investing for a Smooth Transition

• The importance of raising responsible decision-makers
• Helping families understand what wealth means to them and their impact
• Educating kids/grandkids about the responsibility that comes with wealth

[20:08 - 28:49] Investing and Philanthropy Come Together for Families

• Reminding the senior generation to let go of their control in small, incremental steps
• ESG sustainability is a core competency at the farm and is seen as an investment approach that can drive a competitive advantage
• Endowments and foundations business growing with families are often involved with these organizations

[28:40 - 32:26] Investing in Prosocial Ways to Align with Mission Goals

• 5% of endowment resources are being used for prosocial and mission-aligned investments
• Combinations, acquisitions, and expansions are all tied back to the core mission of the firm

[32:27 - 35:19] Closing Segment

• Connect with Tom and Alice through the links below
• A daily practice that helps bring peace to your life
• Alice: watching the sunrise every morning and turning the phone off
• Tom: reading and dropping off his kids in the morning
• Final words

Quotes:

"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 Paik

Connect with Tom and Alice!

Website: www.BrownAdvisory.com 

Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/

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