Capital Club

Running a successful multi-generational family business is no easy feat. The statistics are daunting—only about 30% survive into the second generation and a mere 12% operate into the third. So what sets the thriving minority apart? In this episode, third-generation business owner Rodrigo Himiob draws upon his personal experience navigating the familial complexities of business to provide some keen insights. Discover what Rodrigo has identified as the core component for harmoniously carrying on an enduring family legacy.Rodrigo Himiob is a family business advisor who embraces a collaborative, process-improvement approach to solving complex business problems. Venezuelan-born, Rodrigo is a third-generation business owner whose expertise encompasses executive leadership, operations, project management, and strategic planning. His academic training as an engineer and experiential knowledge as a family business advisor differentiate him as a service provider, and his ability to move people as harmonic units toward a common goal augments his value as a board member.[00:01 - 06:08] Rodrigo's Background and Journey into Family Business Consulting3rd generation family business owner in VenezuelaStudied engineering but always had a passion for family businessesProvides perspective as an owner who wants to carry on the legacy[06:09 - 20:04] Bringing in Advisors to Prevent Bigger Issues The trigger is often an acute moment of anxiety - death, retirement, turmoilAdvisors are usually brought in to put out fires instead of proactivelyBest to bring in advisors early to prevent bigger issues down the lineRules and meeting agreements facilitate better communication[20:05 - 25:20] Non-Family Dynamics and Red FlagsImportant to give spouses and trusted advisors a voiceBuilding shared base knowledge enables productive discussionsRed flags - legal disputes and overly pushy family member[25:21 - 33:22] Professionalizing the Family EnterpriseThoughtful process for bringing in outside executivesHave buy-in from family for major decisionsFrequently reassess board competencies as the company evolvesNeed to move from a "country club" to a proper institutionalized boardKey Quote:“Focus on what your points of unity are. Work toward those because that's ultimately what we're trying to build.” - Rodrigo Himiob Connect with Rodrigo Himiob!Website: https://generation6.com/ Email: rhimiob@generation6.com This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

For families with great wealth, financial capital is just table stakes. The real challenge is the human element—how families relate to each other across generations. In this conversation, Aileen Miziolek provides concrete strategies for helping family members better communicate, resolve conflicts, and build partnerships.Aileen Miziolek helps families use their wealth intentionally, with meaning, purpose, and direction to create the fulfilling lives they desire. She is a guide to business-owning families and families of means who are navigating the unique opportunities and challenges of inter-generational wealth transfer, business succession planning, estate planning, and philanthropy. Aileen brings a multi-disciplined and integrated approach to her work, including 20 years of experience in complex financial and estate planning, family systems coaching, and family business consulting. She is the co-author of Inspired Wealth, Financial Leadership for the 21st Century, and believes that all families can learn the skills to flourish at the intersection of wealth, personal well-being, and positive family relationships.[00:01 - 06:44] Early Days and Evolution of Aileen’s Work Started as an entrepreneur during the Great RecessionBecame a financial planner focused on family businessesWrote the book Inspired Wealth about integrating coaching and mindset work[06:45 - 20:25] The Power of Systems Coaching and Relationship SkillsSystems coaching works with the whole family, not just individualsTeaches critical relationship skillsFocuses on co-creating, adapting togetherManaging conflict and staying curious[20:26 - 34:21] Working with Sibling TeamsDefine partnership, create a shared visionUtilize complementary strengthsEstablish trust and belief in each otherValidate differences but nurture collaboration[34:22 - 44:00] Coaching Program with a Financial Planning ProcessCreating a process for people to understand their financial goalsFacilitating communication in familiesThe mission to grow wealth sustainabilityKey Quote:“The fastest way to destroy wealth is conflict in families.” - Aileen MiziolekConnect with Aileen Miziolek!Websites: https://aileenmiziolek.com/ and https://www.thefbcg.com/ This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

What does it take for a family business to successfully transition ownership and leadership across generations while retaining familial bonds? In this episode, third-generation business owner Todd Garretson shares his wisdom on intentionally building cultures grounded in shared purpose and values to ensure harmony and growth for the long haul.As a former executive in a 75M manufacturing family business he co-owned and eventually sold, Todd Garretson brings multi-generational perspectives to his specialty advisory firm serving family enterprises. With over 20 years of leadership experience across strategy, culture, and organizational development, Todd provides invaluable guidance to founder-led and privately held companies approaching ownership/leadership transitions.[00:00 - 12:32] Embedding Family Values into Business CultureCreate intentional design for the desired cultureDefine the purpose of uniting families across generationsUse values to guide behaviors and decisions[12:33 - 21:07] Building Trust Through Communication NormsEstablish "being together" principlesHelp family members understand communication stylesAdapt methods for cross-generational leadership[21:08 - 31:07] Aligning Strategy and CultureCulture and strategy must work in syncLeadership signals shape strategic cultureValues embedded enable strategy execution[31:08 - 43:39] Leadership Development as Succession PlanningInvolve the next generation in enterprise soonerCreate internal leadership development programsTailor messages for cross-generational preferencesKey Quote:"Wherever people gather, whether it be in a team setting, whether it be your family, whether it be an organization or a community group, there's a culture that's forming and we know that culture is either going to be by design or it's going to be by default." - Todd Garretson Connect with Todd Garretson!Website: https://www.circlemakers.co/LinkedIn: https://www.linkedin.com/in/toddgarretson/Email: todd@circlemakers.coThis episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

In this episode, Brian is joined by international tax and immigration experts David and Mel to discuss the complex process of obtaining an alternative citizenship or residence for high-net-worth individuals concerned about global instability. They outline common motivations, provide real client examples, explain key planning considerations around taxation and inheritance, and offer best practices for anyone exploring this route.[00:00 - 08:20] - Wealthy Americans Seek Second PassportsHow U.S. citizenship-based taxation complicates moving abroadCitizenship by investment involves complexitiesExiting U.S. citizenship triggers serious exit tax and inheritance implications[08:21 - 22:07] - Holistic Approach to International Living and Tax PlanningIndividual situations vary, requiring tailored plans for optimal tax efficiencyBalance lifestyle and tax efficiencyConsider financial, family, and future aspects in holistic reviews[22:08 - 31:53] - Understanding Inheritance Tax in Expatriation PlanningStrategy involved the pre-transfer of assets before considering U.S. trust for childrenCovered expatriate classification lasts a lifetime, posing post-expatriation challengesAmerican exceptionalism in taxation requires a specialized expatriation approach[31:54 - 44:06] - Global Living and CitizenshipEngage experts early for insights on global movesCollaborating with specialists ensures comprehensive guidanceIdentifying the deal breakers to alternative citizenship[44:07 - 53:08] - Global Wealth Strategies for High-Net-Wage IndividualsExplore alternative citizenship for financial flexibilityConsider political uncertainties and potential tax changesFactors like healthcare access and education influence decisionsKey Quote:"One of the keys is to have a plan that works for all the family members, especially when you're dealing with multiple generations." - David LesperanceConnect with David & Mel!Websites: https://lesperanceassociates.com/ and https://melvinawarshaw.com/Email: Melvin.warshaw@gmail.com and david@lesperanceassociates.com This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

Challenging the notion that pain is purely negative might empower us to reach our highest, happiest selves.In this episode, Dr. Julia DiGangi discusses how we can use emotions, even difficult ones like fear and anxiety, to unlock greater confidence, resilience, and meaning in our lives. She provides a neuroscientific perspective on integrating our emotional and behavioral systems to increase personal power.Dr. Julia DiGangi is a neuropsychologist expert in the connection between the brain, leadership, and emotion. Her fMRI and EEG research examine anxiety, stress, and the brain. She has worked with leaders at the White House Press Office, global companies, international NGOs, and US Special Forces. Her book, Energy Rising, is published by Harvard Business Review Press and was released in September 2023.[00:00 - 07:15] Emotions Direct BehaviorEmotions are neuroelectrical impulses communicating behavioral directivesIntegrating emotion and behavior increases personal powerSevering emotion from behavior causes depletion            [07:16 - 21:45] Emotional ContagionEmotions spread unconsciously between peopleStruggling team members affect the leader's emotionsBy matching low emotions, leaders lose their leadership role[21:46 - 27:03] Emotions Create MeaningExternal rewards often leave emotional emptinessProblems feel problematic because of associated negative emotionsEmotions mediate questions of success, meaning, and purpose[27:04 - 36:02] The Harm of AvoidanceExternal rewards often leave emotional emptinessNegative emotions define problems, shift emotions to shift problemsAvoidance requires self-betrayal and accrues distrust[36:03 - 50:32] Releasing Trapped EmotionExposure therapy releases emotion trapped from traumaNeural patterns compel harmful avoidance behaviorsSocial support provides space to heal emotional injuriesKey Quote:“One of the most powerful things we can do in this lifetime is integrate our emotional system with our behavioral system." - Dr. Julia DiGangiConnect with Dr. Julia DiGangi!Website: https://drjuliadigangi.com/LinkedIn: https://www.linkedin.com/in/juliadigangi/This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

In this episode, Brian C. Adams is joined by Emily Bouchard, head of PNC Private Bank Hawthorn's Institute for Family Success. They discuss topics involving blended families, multi-generational dynamics, family meetings, next-generation engagement, and resilience-building. Emily draws on over 20 years of experience coaching affluent families to provide insights and best practices around the intersection of wealth and communication.[00:00 - 08:50] - Emily's BackgroundEmily has a Master's in social work and specializes in family systemsGot into the field by working at a therapeutic camp and children's hospitalsRecruited by a family office services firm 20 years ago[08:51 - 15:52] - Working with Blended FamiliesBlended families face complex step-family dynamicsCreating a "family code of arms" can help define values when togetherBringing people together and supporting each other through shared experience and challengesRegular, open conversations about finances is key[15:53 - 28:09] - Holding Productive Multi-Generational MeetingsMix strategic talks with enjoyable activitiesNeed an agenda but also a "cooler" for parking issues to address laterAddress unexpected topics using a "yes and" approach.A professional facilitator aids effective communication[28:10 - 42:52] - Building Resilience and Engaging Next GensRising generations tend to have higher emotional intelligenceUse curiosity, not judgment, when they share vulnerable perspectivesGive them responsibility matched with empathy and supportKey Quote:"When you have an agenda, you want to have an agenda ahead of time, and you want to look for input from everybody who's attending and give everybody a chance to put their input in." - Emily BouchardConnect with Emily Bouchard!Website: https://www.pnc.com/en/personal-banking/private-bank/hawthorn.htmlLinkedIn: https://www.linkedin.com/in/emily-bouchard-5a9a049/This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

Small daily improvements create an edge in managing money. In today’s episode, Jeremy Kokemor joins the show to discuss long-term investing in high-conviction public stock portfolios. We explore how Jeremy's childhood experiences shaped his investing philosophy, the benefits of thinking like a business owner, and how continuous learning and self-improvement pay dividends in long-term investing.Jeremy Kokemor founded Right Tail Capital: a concentrated, fundamental equity investment firm based in Richmond, Virginia. Jeremy loves helping people with their investments through owning high-quality, under-valued companies for the long term. Jeremy grew up in New Orleans, Louisiana prior to attending the University of Virginia and Harvard Business School. He then worked with several fantastic investors at global mutual fund company T. Rowe Price before managing concentrated portfolios at Private Advisors and Thompson, Siegel & Walmsley[00:00 - 09:49] - Early Life Lessons in InvestingParents' divorce and family financial struggles showed the value of education and hard workWorked jobs throughout childhood and adolescence to pay for schoolJeremy’s grandfather introduced concepts of investing through his stock portfolioJoined respected investment management company T. Rowe Price out of business school[09:50 - 21:19] - Jeremy on Launching His Own FundThe critical factor was the support of his wife and three kids at homeHaving the right mix of investing experience and energy in his careerNamed fund "Right Tail Capital" to represent excellent returns and focus on high qualityFocuses on higher quality businesses, strong management, durable compounders[21:20 - 29:49] - Thoughts on Current Investment StrategyAlways be aware of the status of the macro environmentKeep an eye out for great investment opportunities - they are always thereCreating the environment to produce great investment results[29:50 - 35:41] - Questions to Ask Yourself for Better InvestingWhat type of investing feels comfortable to you?How do you and your investment manager align?Key Quote:"I'm always trying to get a little bit better. And that could pertain to a lot of different things." - Jeremy KokemorConnect with Jeremy Kokemor!Website: https://www.righttailcapital.com/ LinkedIn: https://www.linkedin.com/in/jeremy-kokemor-righttailcapital/ This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

After years of leading companies that made headlines but took a toll on his personal life, Reed realized developing employees was most rewarding. Now an executive coach, he helps leaders maximize productivity by supporting staff’s whole selves. Reed has spent the last 15 years in startups and turnaround across various industries, and his passion always came back to one thing: developing the people, personally and professionally, within his companies.[00:00 - 11:33] - From Profits to People: Shifting Business PrioritiesReed focuses on improving the 3P’s - people, processes, and productsCaring about people drives better business outcomesGetting people to open up about personal struggles has value[11:34 - 20:46] - Coaching Leaders to Be Their Best SelvesDeveloping people can unlock huge latent productivityHelps leaders enhance strengths versus radical changeWhat it means to provide space for vulnerability and reflection[20:47 - 33:36] - Cultivating Fulfillment in Work and LifeComparison between men and women in openness and vulnerabilityMen's retreats show peers have similar strugglesDifferentiate between transactional and relational connectionsCelebrate focused productivity over constant "busyness"[33:37 - 45:41] - Comfortable Space for Vulnerability and GrowthThe importance of reciprocated opening up to your friendsSocietal roles and economic pressure can cause neglect in other areasSustainability is key to cultivating better habits; do not be stagnantKey Quotes:"If you truly care about the people that you're working with, it's amazing what you can get done there." - Reed Koehler"How we operate outside of work is also how we operate inside of work." - Reed KoehlerConnect with Reed Koehler!Website: https://www.thekoehlergroup.co/ LinkedIn: https://www.linkedin.com/in/reed-koehler-31113818 This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

How do we thoughtfully structure family philanthropy to maximize impact? In this episode of the Capital Club podcast, host Brian Adams interviews Dr. Sharilyn Hale, an expert on generational wealth, philanthropy, and governance. Sharilyn explains the landscape of philanthropy options today, best practices she sees amongst successfully generous families, common pitfalls to avoid, and how to partner with the right advisors.Dr. Sharilyn Hale helps those who give, give well, engage their families, and channel their wealth and influence for good.  Leading philanthropists, multi-generational families, and social purpose organizations across North America and the Caribbean look to Sharilyn’s expertise in philanthropy, corporate and family governance, and community development to become more thoughtful and confident givers at a time when their generosity is needed more than ever.[00:01 - 06:00] The Changing Face of PhilanthropyThere are more options than ever to "do good" - from traditional charity to impact investingYounger generations want alignment across investments, business practices, and philanthropyFor families, philanthropy builds capacity and brings them together[06:01 - 14:43] Best Practices for High-Impact Giving and Good GovernanceCommunicate clear purpose in the family wealth spaceChildren are never too young for parents to talk about givingPhilanthropy conversations tie into broader family governance[14:44 - 26:28] The Secrets of Successfully Generous FamiliesCraft an intentional dual mission for community and family and establish clear roles and responsibilitiesPlanting the seeds to the younger generation of how giving is a joyful actBe thoughtful in your approach - there is no one-size-fits-all[26:29 - 41:41] Taking Current Giving to the Next LevelUnderstand motivations, hesitations, and past experiences first then co-design a structure suited to family complexityLack of coordination across advisors risks missing key considerationsAdvisors should be honest and families should be candid with their current statusKey Quote:“Philanthropy has an important role to play in building bridges and to remind us all how we need each other. And society only works when we're all able to be there together and to be successful together.” - Dr. Sharilyn HaleConnect with Dr. Sharilyn Hale!Website: www.watermarkpc.com  LinkedIn: https://www.linkedin.com/in/sharilynhale/ This episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.

In today's episode, we welcome Louis O' Connor, our distinguished guest appearing for the third time. As the Managing Director of Truffle Farms Invest, Louis invites private investors to join him in a unique truffle farm venture in Ireland, promising passive income for 30 to 40 years. With notable features in publications like The New York Times, Louis has previously discussed rare earth and strategic metals. Now, he introduces us to the fascinating truffle farming—an exotic investment that has caught our attention.[00:00 - 08:16] - The Roots of Truffle Farming and Market DynamicsLouis began truffle farming in 2005 A striking stat hints a possible 78-100% decline in truffle harvests in the next 50 yearsIreland's nearness to Shannon Airport and the rising global demand for truffles position it as a key player in the global truffle supply chain[08:17-15:20] - Truffle Cultivation UnveiledApplying horticultural advancements to cultivate truffles in a farm setting while preserving the natural symbiosis between the fungus and the tree's rootsEnsuring proper biosecurity to prevent mismanagement and maintain optimal conditions for truffle growthIrish truffles uniquely meet the rising demand in high-end global restaurants through sustainable cultivation practices[15:21 - 26:28] - Investing in Truffle Farms in Ireland Investment of $30,000 for 400 truffle trees and a guaranteed return upon harvestWith a 70-30 split, investors enjoy 70% of gross profits, translating to an average annual return of 25-29% over 35-40 yearsIdeal Retirement Spot: Emphasizing safety, European charm, and expansive landscapesKey Quote:“The market dynamics involve a combination of high demand, decreasing supply, and the unique advantage of our Irish truffle production, making it a noteworthy investment opportunity." - Louis O' ConnorConnect with Louis O Connor!Website:https://trufflefarminvest.com/Email: louis@trufflefarminvest.comLinkedIn: https://www.linkedin.com/in/louis-o-connorThis episode is sponsored by Mack International, a specialized executive search and human capital consulting firm serving the family office/wealth management markets. Please visit their website here for more information.Download our FREE Strategizing for Inflation Guide here: https://www.excelsiorgp.com/download/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.