Capital Club

Are family offices becoming more popular? In this episode, Robert Daugherty dives into the importance of having a functional family office, and the role of the Chief Learning Officer in it. He breaks down the complexities of family offices today – from generational wealth transfer to the need for communication and understanding within families – as well as working with trusted advisors and navigating the blurred line between philanthropy and investing. Tune in to learn more about getting the most out of your own family office venture!Robert C. Daugherty served as the Dean of the Forbes School of Business and Technology and is a Professor of Strategy and Finance. Having served on over two dozen corporate boards, he regularly advises private equity firms, institutional investors, and family offices on mergers and acquisitions, and corporate governance. He writes a regular column for Forbes China on investing and leadership. Key Highlights:[00:01 - 06:21] Opening Segment• How to build a high-performing family office• Metrics for a high-performing family office• The recent trend of proliferation of single-family offices and multi-family offices • Wealth creation is driven by technology and innovation[06:22 - 12:58] Finding the Right Talent for Your Family Office• Best practices for compensation, hiring, and firing• The importance of having a clear understanding of their purpose and mission• Why the qualitative emotional relationship is a chore characteristic• Family offices are now hiring Chief Learning Officers[12:59 - 19:31] Uncovering the Challenges of Family Offices• How to thrive across generations• Having the right team around you is essential for first-generation wealth creators• Self-awareness is an important skill for successful family offices.• The biggest challenge facing family offices today[19:32 - 25:55] Challenges and Opportunities for Family Offices• Family offices require a different approach than traditional high-net-worth clients• Leadership transition can be difficult for families who haven't done the work early on• Generational wealth transfer is occurring now and can be challenging for families• Communication is critical in successful generational transitions[25:56 - 31:14] Closing Segment• Philanthropy and investing are becoming increasingly blurred• How families deploy capitalWant to connect with Robert? Head to Endowment Assurance to build, grow and preserve wealth!Key Quotes:“The people who are working on the issues of today are not necessarily the right people to be working on the issues of tomorrow.” - Robert Daugherty"Successful family offices require a temperament that is not prone to action."- Robert DaughertyDownload our FREE guide here: https://www.excelsiorgp.com/guide/Connect with me on 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.

As your parents age, you may find that you want or need to broach the often-difficult subject of finances. In this episode, Cameron Huddleston, an award-winning personal finance journalist, discusses how to have meaningful conversations with your parents about their finances. She emphasizes the importance of having estate planning documents, a power of attorney, and a long-term care plan in place. She also dives into the psychological reasons why parents may be hesitant to talk about money and outlines the importance of introducing children to money from a young age. Tune in to find out what steps need to be taken when planning for your parent’s future! Cameron Huddleston is an award-winning personal finance journalist and author of Mom and Dad, We Need to Talk: How to Have Essential Conversations With Your Parents About Their Finances. She is the director of education and content at Carefull, the first service built to organize and protect aging adults' daily finances.Key Highlights:[00:01 - 07:29] Opening Segment• Essential tips for having conversations with your parents about their finances• Don't bring up the topic of money during a holiday meal• Start the conversation naturally• Go into the conversation out of love and respect for your parents[07:30 - 14:25] A Checklist for Emergency Planning• Why all adults should have estate planning documents to ensure their wishes are known• What estate planning documents include• Understanding debt, investments, insurance policies, and long-term care plans• How conversations about money should be done over time [14:26 - 22:09] Planning for Long-Term Care• The importance of introducing children to the concept of money• Talk openly with children about estate planning, retirement savings, and guardianship• Scam incidents and dollar amount lost keep increasing year after year• Why parents should plan for long-term care[22:10 - 29:09] Advice for the Sandwich Generation• Parents may not be able to provide care for their elderly parents• Caregiving can be a full-time job and require round-the-clock care• Long-term care insurance can help cover the cost of care• Early communication and planning are essential to have more options available[29:10 - 36:09] Closing Segment• The benefits that assisted living facilities provide• What brings Cameron peace of mindWant to connect with Cameron? Follow her on LinkedIn, and Instagram. Visit her website to learn how to have conversations with your parents about their finances!Resources Mentioned:Mon and Dad, We Need to TalkCarefullKey Quotes:“You have to make your own finances a priority.” - Cameron Huddleston"If you want your wishes known, they have to be in writing." - Cameron HuddlestonDownload our free guide here: https://www.excelsiorgp.com/guide/Connect with me on 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.

Learn how to amass wealth – the right way, for you. In this episode, Barbara Friedberg, a former portfolio manager and university investments and finance instructor, delves into how Robo-advisors have revolutionized traditional financial advisory services. She explains what Robo-advisors are, how they can benefit investors, and how to get started. She also discloses her personal approach to money management and why understanding your risk tolerance is key for any investor. Join us to learn more about taking advantage of Robo-advisors in wealth management and investing!Key Highlights:[00:01 - 07:27] Opening Segment• Robo-advisors are an umbrella term for technology-enhanced investing platformsProviding individuals with access to low-cost asset management• Hybrid models offer access to both robo and human advisors• How Robo-advisors are used by traditional financial advisors[07:28 - 14:53] Fee Compression in Robo-Advisory Industry• Robo advisors offer investment management at lower fees than traditional financial advisorsThe difference between traditional advisors vs Robo-advisors• The customization options available within the Robo-advisory field• How Robo-advisors provide well-diversified portfolios with low fee drag[14:54 - 22:31] Robo-Advisors for Wealthy Investors• Barbara breaks down some of the best Robo-advisors• Robo-advisors are highly regulated and insuredInvestments are fairly safe• A look at the latest developments in investment technology[22:32 - 30:06] Exploring the Benefits of Robo-Advisors• How Robo-advisors create an investment portfolio with the greatest returns for a specific risk level• Different Robo-advisors use different asset classes• Robo-advisors base their assumptions on how truthful you are on the inputHow they provide better access and education to people[30:07 - 33:23] Closign Segment• Get financial security and balance• Focus on balance in life, not just moneyWant to connect with Barbara? Follow her on LinkedIn and Twitter. Head to Robo-Advisor Pros, a comprehensive + trusted resource for the latest robo and technology-enhanced investing platforms! Resources Mentioned:Barbara Friedberg Personal FinanceKey Quotes:“Nobody knows the future, but you can feel comfortable investing with a robot advisor that you're getting as much protection as you would with most other brokerage companies or with your bank.” - Barbara Friedberg“Wealth can give you a certain amount of financial security, but it won't solve your problems.” - Barbara FriedbergConnect with me on 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.

This episode of the Capital Club podcast is your chance to get a behind-the-scenes look at the life and story of Brian. He talks about the challenges he faced along the way, his successes and failures, how networking helped him find his current path, and what he’s learned about business development. He also discusses how he found work/life balance by creating a daily routine that brings peace and joy. This is an inspiring conversation with a real estate investor whose ambition has enabled him to create one of the most successful investment platforms today. Tune in to hear more![00:01 - 06:31] Opening Segment• Brian's journey from a small town to Excelsior CapitalAn idyllic childhood with his younger brother• Why money was not discussed in the family[06:32 - 12:16] From Aimless to Successful• How Brian’s journey led him to a new life• Brian’s experience graduating in 2009 during the Great Recession• Learning about commercial real estate, private equity, etc.[12:17 - 18:40] Take the Next Step in Investing• Hired a marketing person and controller for the best investor experience• How Brian mapped out the entire investor journey step by stepHis first real estate deal - a small office building[18:41 - 23:53] Closing Segment• Find peace in your daily routine• How routine helps stay present and focusedConnect with me on 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.

Take a thoughtful approach to growing your business, hold yourself accountable, and bring opportunities that you never could have found on your own. This episode of the Capital Club features Chris Yount, a battle-tested CEO who took his family business from bankruptcy to record profits. He explains why he believes companies should install a board structure and how it can provide entrepreneurs with access to industry insider connections, broader experience, and accountability. He outlines the differences between boards of directors and boards of advisors as well as how to go about setting up an effective board. Let’s dive in![00:01 - 07:33] Opening Segment• How Chris restructured his family businessFrom bankruptcy to record profits• Chris’s passion for multi-generational businesses by serving as a board advisor• How mistakes and negative experiences can be resources for success[07:34 - 14:41] The Benefits of Having a Board of Advisors• How to find the right people and make the most of their expertise• Think about your biggest weakness and find a board member to fill that gap• The difference between a Board of Directors and a Board of Advisors• Find time for what is important in your life[14:42 - 22:11] How to Onboard Board Members for Maximum Insight• Push yourself with someone who compliments weaknesses• Make sure to have a solid onboarding procedure• Focus on high-level strategy• Why a board packet of reading should be sent ahead of time[22:12 - 29:34] Understanding the Challenges of Shifting Mindset• How term limits and annual evaluations can be used to assess board performance• Mindset shift is necessary for business leaders to admit they don't know everything• Gen 1 entrepreneurs often have difficulty asking for help• How joining YPO and other networking opportunities can help you improve your business[29:35 - 39:04] Closing Segment•  Ask around, look for surveys, and find comparable companies• Determine what is common in terms of board structure• Take advantage of the valuable resources that board members bringWant to connect with Chris? Follow him on LinkedIn, and Twitter. Head to his website, and lay out a winning strategy for your company!Key Quotes:“The people that take the time to learn more challenge themselves, push their thinking, expand their horizons are the ones at the end of the day who end up actually being more productive.” - Chris YountConnect with me on 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.

This episode of the Capital Club podcast dives deep into 1031 and 1033 exchanges. Our guests, Camille Renshaw, CEO and co-founder of B+E, and Brad Borden, a professor of law at Brooklyn Law School, provide expert insight into how these sections work and how they may apply in a business environment. They discuss differences between 1031 and 1033 exchanges such as types of property that can be acquired, time periods, use of proceeds, ownership restrictions, and much more. Tune in to learn more about 1031/1033 exchanges and get helpful advice from our knowledgeable guests!Key Highlights:[00:01 - 06:25] Opening SegmentUnderstanding the difference between 1031 & 1033 exchangesTypes of properties that can be acquired are differentCamille’s experience with 1033 in both personal and business sense[06:26 - 12:57] 1031 & 1033 ExchangesThere are secondary markets across the country with industrial property in the middle of downtown1033 exchanges allow property owners to reinvest proceeds from the sale within 2 years1031 exchanges require a 45-day identification period and 180 day exchange periodWhy qualified intermediaries are involved in 1031 exchanges, but not in 1033 exchanges[12:58 - 19:30] Navigating the Complexities of 1031 and 1033 Exchanges Under 1031, the replacement property must be like the relinquished propertyUnder 1033, there is a similar or related in-use standard that is broader than 1031How people are fatigued after going through the condemnation process[19:31 - 25:30] Leveraging Exchange Proceeds for InvestmentOften there are multiple family members involved in 1031/1033 exchangesTech platform allows people to scour the whole market for net lease assetsPeople want something less hands-on and less cumbersome than their previous investment profile[25:31 - 32:07] Exploring 1031 and 1033 ExchangesWhat's allowable, not allowable, and what ownership structuresPrepaid construction services and materials are not considered real propertyHow ownership structures can be divided tax-free with partnerships[32:08 - 39:39] Closing SegmentDistributions of property from S corporations or C corporations will trigger gain recognitionGet expert advice on complex tax issuesIt’s important to have communication between all parties involved in the transactionWant to connect with Brad? Head to his website to learn more about complex property transactions and business restructurings!Want to connect with Camille? Follow her on LinkedIn.Key Quotes:“I definitely encourage you if you are basing a 1033 or 1031 frankly, you won't find any better people than Brad or Camille in the business or industry.” - Brian AdamsConnect with me on 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.

Whatever digital experience you're creating for your end users, make sure it is as efficient as possible. In this episode, Travis Coley, the Managing Director at Whitepenny, shares his insight on the current talent war taking place and how it is forcing businesses to rethink their branding strategies. He explains how family-owned businesses can remain competitive and attract top talent, as well as why digital marketing is essential for creating a unified customer experience across multiple channels. Tune in now to learn more about what you need to create the best digital experiences!Leaning on two decades of strategic planning and corporate finance experience, Travis helps advise clients through the lens of gaining a strategic advantage, growth, capital investment, and brand as an asset. He partners with clients to define brand strategy and establish a differentiated market position.[00:01 - 11:45] Opening SegmentFamily-owned and multi-gen businesses need to rethink their brand strategyFocusing on both external and internal audiencesBusinesses and business leaders need to become content creators The wealth transfer and leadership transition from Gen X to millennialsHow to create a website that goes beyond a digital catalog[11:46 - 24:14] Understanding Digital Strategies to Drive OutcomesHow to leverage technology, branding, and marketing for successFocus on creating digital experiences for end usersModes of building relationships have changedQuestions to ask when vetting a digital vendor/partnerLeveraging family businesses' stories into the digital atmosphere [24:15 - 34:27] Closing SegmentBest practices for auditing, iterating, and AB testing digital experiencesConsumers don't want choice, they want confidence in making the right choiceRemoving unnecessary activity or hops from the customer journey is keyWant to connect with Travis? Email him at tcoley@whitepenny.com, or follow him on LinkedIn!Resources Mentioned:The War on ClunkKey Quotes:“You have to work just as hard now, and be just as effective at branding yourself internally to continue to retain your best talent.” - Travis Coley“Branding is really about creating a differentiating position in the marketplace.” - Travis ColeyConnect with me on 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.

Do you believe in the power of introductions and creating significant relationships? In this episode, Justin Breen and Mark Fujiwara, the co-founders of the exclusive connectivity platform BrEpic Network, delve into how to build global networks and meaningful connections to develop extraordinary companies. They touch on the concepts that rule their lives and the importance of treating partnerships as an investment. Tune in and start your journey to your epic life![00:01 - 10:01] Opening SegmentWhy Justin & Mark decided to write a bookThe importance of creating real valueTreating partnerships as an investment How the right networks lead to success[10:02 - 20:47] What True Entrepreneurs Care AboutThe patterns of successful entrepreneurshipTrue knowledge is knowing where to look something upFind a partner with a complimentary skillsetFocus on what you are really good at[20:48 - 33:35] Everything is PossibleIntroducing the manifestation conceptWhy Justin & Mark’s goal is to change the way things are doneWhat the process is the shortcut meansThe more shortcuts, the better outcomes[33:36 - 43:00] Closing SegmentThe 2 Japanese concepts of entrepreneurship & growthHigh achievers don't like mediocre peopleA daily practice that brings Justin & Mark peace in their lifeConnect with Justin on LinkedIn. Head to BrEpic to access exclusive resources!Key Quotes:“We only partner with visionaries who live in abundance and who look at things as investments, not costs.” - Justin Breen“The right mindset attracts the right network and creates the right opportunities.” -  Justin Breen“It's not only being present but appreciation for the uniqueness of the moment.” -  Mark FujiwaraConnect with me on 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.

Have you explored the global population crisis and its impact on economic growth? In this episode, Brian dives into the worrying trend of depopulation and its far-reaching implications. He discusses how this could lead to slower economic growth or even contraction in some countries due to decreased labor forces, fewer healthcare workers, an inability for social programs, and much more. Let’s dive in![00:01 - 05:12] Opening SegmentExploring the impact of depopulationThe final installment of the Killer D seriesHow depopulation is becoming top of mind for many countriesBaby boomer population hitting retirement ageThe opportunity for historically underrepresented groups to enter the workforce[05:13 - 09:54] Shrinking Populations and the Impact on GDPCountries that have shrinking populationsThe Statistics of China's populationUS working-age population has been stagnant for 15 yearsHuge challenge to have enough healthcare workers[09:55 - 13:18] Closing SegmentDeclining fertility rates are hard to reverseTo maintain quality of life, GDP per capita needs to move forwardKey Quotes:“We need to continue to move forward in order to drive economic growth.” - Brian AdamsConnect with me on 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.

In this episode, Brian welcomes Jason Ma, award-winning Chief Mentor of Next-Gen Leaders and advisor to high-net-worth families and CEOs. Jason talks about how he helps individuals to not only maximize their life-stage goal achievements, but also build greater character and strengthen relationships, via trusted third-party top-notch mentorship. He explains the massive wealth transfer that is occurring from baby boomers to Gen X, Millennials, Gen Zs, and charities, and notes that many younger Next Gens view money as a burden or are unprepared.He suggests that those receiving the wealth focus on creating meaningful connections and contributing to causes they care about but with wisdom and sound family values, and not simply on accumulating wealth. Additionally, he highlights the importance of intellectual humility for success and emphasizes philanthropy as an important factor in connecting with others. Jason then provides practical advice on how to help families and CEOs build a stronger foundation and achieve greater outcomes and happiness.[00:01 - 14:22] Boomer Generation Challenges: Connectivity, Relationships, and Peace of MindPeace of mind and relationships are what patriarchs and matriarchs look for at the end of the dayHappiness comes from a sense of connection, contribution, and personal growthCoachability as a critical success factor in life, business, family, and careerBiggest challenges facing boomers: peace of mind, relationships (with their children), certainty, significance[14:23 - 28:13] Navigating the Wealth Transfer: Exploring the Impact of Boomers, Gen Xers, Millennials, and Gen ZsJason's invention of ThreeEQ (“3EQ” - pragmatic emotional, social, and leadership intelligence)Various Gen Xers rose to be pragmatic captains of their companies and industries and don't see much attentionThe negative stereotypes associated with millennials in the mediaSoft skills are foundationally more important than hard skills over the long haulHigh anxiety and stress caused by addictive digital distractions are a challenge for current high school and college students[28:14 - 36:46] Gaining Leadership in the Next Generation: Advice from 20,000+ Hours of Successful Coaching and ResearchHigh-quality preparation with top-notch guidance is key to success in elite college admissions and beyondCollege planning, application, and admissions should be thought of as part of a long-term plan, not just a four-year processAdvice for engendering leadership: develop strong personal operating systems and employable skills, and coach and groom children with third-party top-notch mentorship early on for greater life-cycle impact and benefits[36:47 - 42:37] Closing SegmentQuotes:“Build a stronger (mindset, skill set, and directional) foundation. It's gonna set the stage for you to raise your happiness and rise up (in career and business) faster than most people.” - Jason Ma“What's between stimuli and response is a space. The space is where you could (hone and act from your mindset, skills, strategies, vision, and) get greater outcomes, peace, and joy.” - Jason Ma"Don't just see the trees in front of you. See the (complex, consequential) forest for (beyond) the trees.” - Jason MaConnect with Jason by visiting www.ThreeEQ.com.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.