The Mack Podcast

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.comtheblumfirm.comxylogenesis.comTo 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.

In this conversation, Brian C. Adams interviews Mohamed, the founder of Nines, a software company that helps families manage their homes and staff. Mohamed shares his background as a personal trainer for ultra-high-net-worth individuals and how that experience led him to create Nines. They discuss the complexity of managing multiple properties and the need for a centralized solution. Mohamed explains how Nines helps families organize and communicate with their staff, improving efficiency and reducing turnover. The conversation highlights the importance of running a household like a business and the challenges faced by wealthy individuals in managing their assets. For more information on Mack International, please visit www.mackinternational.com.