FOXcast

Today, I'm excited to speak with Drew Mason and Christianna Mason. Drew is Managing Partner at St. Joseph Partners, a precious‑metals brokerage and wealth protection firm serving individuals, families, and family offices across the U.S. and internationally. He is a G2 principal of Andrew Mason Associates, a family business founded in 1979 as a strategic management consultancy and later pivoted to acquiring and building businesses, with three ultimately sold to private equity. Christianna is Drew's daughter and a G3 member in their family office. She is a CPA who has advised Fortune 100 and private equity clients on global M&A from PwC's New York office. Earlier in his career, Drew held positions at major Wall Street firms including Lehman Brothers, where he witnessed first-hand the 2008 Global Financial Crisis, an experience that triggered a personal and professional search for true financial safe havens in times of stress. This ultimately led to him founding St. Joseph Partners, and over the past fifteen years, the firm's services have expanded to include: an online trading engine, secure domestic and international storage, private-label minting, audit and insurance facilitation and logistics. In this episode we focus our conversation on gold. Drew and Christianna share their views on what is so unique about gold as an alternative investment asset and why investors should be paying particular attention to gold right now. They also address the skeptics and risk managers out there, who may not be convinced, and explore what the worst-case scenario might look like for gold. Drew and Christianna delve into the options and intricacies associated with investing in physical gold vs. financial instruments that emulate the performance of gold. And for those who are worried they may have missed the gold rally and are wondering whether it's too late to get in now, they provide a perspective on where their think gold is headed from here. Enjoy this instructive conversation with two of the leading experts on multigenerational families investing in gold and precious metals.

Today, it is my absolute pleasure to speak with Amy Hart Clyne, Chief Knowledge & Learning Officer at Pitcairn. Amy is responsible for Pitcairn's Family Engagement Services function and leads the firm's thought leadership and learning initiatives. Before joining Pitcairn, Amy served as Executive Director and Chief Knowledge Officer at FOX, and led our knowledge, learning, and education strategies serving our community of families and multi-disciplinary advisors. Amy is the co-author of the book Finding Her Voice & Creating a Legacy: Portraits of Pioneering Women Leading Wealthy Families – an exploration that draws from intimate, in-depth conversations with over 40 women of wealth about how they came to wealth, their role in the family, and the obstacles they overcame. Amy holds a Certified Financial Planner™ (CFP®) designation and an Advanced Family Business certification (ACFBA) from the Family Firm Institute where she is also an FFI Fellow. She, and her firm Pitcairn, are valued wealth advisor members of FOX and we are thrilled to have their expertise as part of the FOX membership community. Finally, Amy is a former member of the FOX team, and I am thrilled to welcome such a distinguished FOX alumna to FOXCast. Amy's book, Finding Her Voice is a groundbreaking book and, in my view, required reading in the family wealth space. Amy shares with our audience the story of the book, including what motivated her to write it and what methodology she used for gathering the insights and stories captured in the book. Having captured the fascinating and unique stories of these 40 women, Amy talks about the main revelations and learnings that she took away from her research and that she is passing on to the readers of the book. We then talk about the more practical outcomes of Amy's research and the applied learnings for female wealth owners, starting with some practical tips and suggestions for the women who are founders or wealth-creators and built their wealth from scratch. Next, we discuss the advice and suggestions Amy would offer to female inheritors – those who are the recipients of generational wealth being passed on to them. This is a must-hear conversation with one of the pioneers of family wealth learning and education, and a groundbreaking researcher, writer, and thought leader in the field of women in wealth.

Join Amy Wirtz, a seasoned Senior Consultant with the Family Business Consulting Group, as she dives deep into the world of generation-skipping trusts. With her extensive background in law and mediation, Amy explores the nuances of these powerful estate planning tools. She outlines their tax benefits and complexities, emphasizing long-term family dynamics. Practical tips on trustee selection and effective trust management provide invaluable guidance for families. Discover the vital role of family enterprises in economic and social stability.

Today, I am pleased to welcome Bob Weinhold, Partner at Velocity Advisory Group, an advisory firm helping clients accelerate organizational success through leadership development, executive coaching, cultural alignment, and strategic execution. Bob oversees the firm's Family Business Advisory and Executive Coaching practices. He began his career in healthcare working with executives in 1996 and later that year was fortunate to support the Atlanta Olympic Games with his individual and team performance enhancement experience. Bob supports the development of next generation leaders to prepare for succession and help senior family members transition responsibilities while mitigating risk. In his work with families, Bob talks about the concept of "mental scripts" that family members have in their heads that, while helpful in some cases, can also get in the way of successful transitions, communications, and relationships within family enterprises. He elaborates on this concept and gives some examples of how these mental scripts form and manifest themselves within families of wealth. One common challenge related to the "mental scripts" topic is the "fear of screwing up" mentality that so often guides and derails progress among enterprise families and their members. Bob explains why this "Don't Mess It Up!" attitude is so pervasive both among older generations looking to transition control and their next-gen descendants who are looking to step into leadership. He also offers some insights into what families can do to avoid or navigate this common pitfall. One practical tip Bob offers is for family members to really mind their language – to study the phrases they use in their conversations. Bob delves into why language is so important and unpacks what family leaders and members can do to make sure how they speak to each other helps them grow and succeed rather than derail or hold them back. Another practical tool Bob uses and recommends is "the list", which often older generations have in their mind before they can be comfortable transitioning power and control. He talks about this mental list – what's often on it, how to deal with it, and how rising-gen members can manage toward and around this list. Enjoy this instructive conversation with a prominent and experienced thought leader and practitioner in the field of intergenerational transitions and succession within UHNW families.

Today, I'm excited to speak with Van Carlson, Founder & CEO of SRA 831(b) Admin, a specialized risk management solutions company. Van has over 25 years of experience within the risk management industry. Prior to founding SRA, Van ran his own property and casualty firm for 15 years and was awarded Presidents Council's and other top-performing achievements during his tenure as a P&C Agent. In 2008, he saw the Great Recession hit his commercial business clients hard, and just like them, he was also affected by the sharp economic downturn. Out of that challenging experience, he emerged committed to developing better ways to manage risk and improve business operations for his clients, and consequently founded SRA 831(b) Admin to pursue this mission. In this episode, we delve into the topic of micro-captive insurance plans, or 831(b) plans, and the ways family businesses and family offices can deploy this specialized tool to manage a range of risks. Van covers the fundamentals, offering our audience an overview of how 831(b) plans work and why wealth owners and family enterprises should consider deploying this innovative risk management tool. There are many ways 831(b) plans can create value for families and their enterprises. Van describes the most common use cases families and family offices can address by deploying 831(b) plans and shares some examples of the different unfunded liabilities this tool can help address. One very practical and helpful tool Van developed is the 831B.com website. He talks about the resources that are available on the website and how families and family office teams can utilize this public resource. The 831(b) solutions have many positive applications, but as is the case with everything in life, there are also downsides to consider. Van covers the potential risks associated with 831(b) plans and shares his tips on how our listeners can avoid or mitigate these risks. Please enjoy this insightful conversation with a pioneer and thought leader in the technical field of micro-captive insurance plans.

Today, I'm excited to speak with Brad Mindich, CEO and Founder of Inveniem, the leading archiving & fan engagement company that works directly with artists, estates, athletes, brands, and individual celebrities on finding, organizing, preserving, and monetizing their artifacts and history. Brad also founded Agent Phoenix, a brand realignment and creative consulting agency, which works with companies to improve and enhance their relationships with their target audiences. Brads businesses have served such iconic artists as Coldplay, Metallica, Norah Jones, Jeff Bridges, Questlove, and Elvis Costello, to name just a few. Prior to founding Inveniem and Agent Phoenix, Brad was President of the Phoenix Media/Communications Group, a multi-media organization, and is a veteran of several media and technology start-ups in the US and UK. Brad talks about the world of iconic creators – artists, actors, athletes, and other creative personages – and provides an overview of this exclusive niche and how he and other experts serve these VIP UHNW clients, especially helping them preserve and manage their intellectual property, intangible assets, and unique artifacts. The knowledge, tools, and processes Brad and his firm have developed and apply are not limited to just in this creative niche of the market. Brad describes how families of wealth can also leverage this approach and solutions to preserve and pass down their artifacts, heirlooms, and collections – but also their legacy and values more broadly. Brad goes over the practical steps of how families and UHNW clients can get started on this journey of understanding, managing, and making the most out of their creative assets and intellectual property. He delves into one of the most common roadblocks for many families and clients – how to first organize all the artifacts and creative assets they have so they can know what is there, what exists, and then follow the robust process to begin to manage these collections of unique, alternative assets. Enjoy this informative conversation with the leading service provider in this exclusive niche of the UHNW wealth management landscape.

Mark Tepsich, Executive Director at UBS Private Wealth Management, shares his expertise on closely held family office groups. He discusses the growing trend of firms creating in-house family office teams to provide tailored wealth management solutions. Mark delves into the rationale behind these structures, emphasizing their role in effective governance and decision-making. He also reflects on his journey from general counsel in a family office to a design specialist, highlighting the importance of collaboration and trust among advisors in the wealth management landscape.

Today, I have the pleasure of speaking with Sharon Schneider, founder of Integrated Capital Strategies. She works with families and foundations to align all of their activities with their values, expanding from philanthropy and impact investments to advocacy, operating businesses and property management/household operations. She is the author of "Handbook for an Integrated Life: A Practical Guide to Aligning Your Everyday Choices with Your Internal Compass". Previously Sharon served as Executive Director of the Telluray Foundation and was the founding Director of the Walton Personal Philanthropy Group. She was also co-founder and CEO of the for-profit social enterprise Moxie Jean, a Chicago Innovation Award winner in 2013 and a 2012 portfolio company of renowned tech accelerator Excelerate Labs (now TechStars Chicago). Moxie Jean was acquired by Schoola in 2015. Before starting Moxie Jean, Schneider spent 12 years as a staff member and consultant to private foundations, including the Bill & Melinda Gates Foundation, the Pew Charitable Trusts, and dozens of small family foundations, working on issues ranging from strategic planning and outcome management to engaging your family in philanthropy. Sharon wrote a highly regarded book about the concept of an "Integrated Life", and she shares with our audience the meaning of this term and its key takeaways for UHNW families. In her writings, Sharon posits that these is a "3rd Gen Problem" – that by the time G3 steps into the leadership role, the family office structure begins to strain. She describes this problem, and illustrates how it is manifested across families, why it occurs, and most importantly, what to do about it. Through her work with families, Sharon has formulated 8 principles for a values-aligned family office, and she unpacks her thinking and practical insights related to the 8 principles. She then provides some specific practical applications of the principles, and shares some use cases that can help bring the principles to life for our audience. Enjoy this informative conversation with one of the best recognized philanthropy advisors and practitioners in the family wealth space.

Drew McMorrow, President & CEO of Ballentine Partners, shares insights on optimizing family office design. He discusses the trade-offs between insourcing, outsourcing, and partnering for single-family offices, using real-world examples like custody arrangements. Drew also introduces the Center for Family Wellbeing, emphasizing effective partnering for communication and HR needs. He offers practical strategies for managing family dynamics and enhancing next-gen engagement, ensuring families leverage their unique strengths while navigating complex financial landscapes.

Today, it is my pleasure to speak with Anne Rappa & Alex Glauber. Anne is the fine art practice leader for Marsh McLennan. She provides risk management advice and assists clients by negotiating risk and insurance solutions related to fine art collections and transactions. Anne has 30 years' experience representing the interests of both individual and institutional collectors, institutions, art dealers, auction houses, art logistics companies and other fine art focused businesses. Anne, and her firm Marsh McLennan, are a valued Advisor member of the FOX community, and we are grateful to have their expertise and thought leadership in our membership community. Alex is an art advisor, curator, and educator based in New York. He is the founder and principal of AWG Art Advisory, where he works with private individuals, corporations, and institutions in the conceptualization, building, and management of fine art collections. Prior to founding AWG Art Advisory in 2009, Alex served as an assistant curator for the Lehman Brothers and Neuberger Berman art collections from 2006 to 2009. He has curated monographic and thematic group exhibitions at venues as varied as the Portland Museum of Art in Maine, Phillips auction house, and Bryant Park, New York, as well as at galleries such as Lisson Gallery, Andrew Kreps Gallery, Chapter NY, Dickinson, David Lewis Gallery, and Casey Kaplan. He is a board member of The Brooklyn Rail and the president of the Association of Professional Art Advisors. Art is an increasingly popular investment asset among enterprise families and family offices – both as a passion investment and an alternative asset in their diversified portfolios. Anne and Alex talk about what is going on today in the world of art investing and highlight the latest trends that have been shaping the space over the recent years. They also explain how art is different from other investment assets, describing the unique attributes and market structures that set art apart from other investments and even from other alternative assets. One practical piece of advice Anne and Alex have for our listeners is to consider and understand the role of a professional art advisor. They describe the role of the art advisor and share their views on why families and family offices should be working with one and what value they can extract from such a relationship. With the unique attributes and value of art come also some unique risks. Anne and Alex shed some light on the major risks art investors should be aware of and how family offices and their clients can manage and protect themselves against those risks. Don't miss this deeply instructional conversation with two of the leading experts and advisors in the world of art investing.