The Great Wealth Transfer: Strategic Planning, Family Values & Emerging Decision Makers
Podcast: The Great Wealth Transfer – Strategic Planning, Family Values & Emerging Decision Makers
[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
Connect with Tom and Alice: www.BrownAdvisory.com
Brian’s Linkedin: https://www.linkedin.com/in/brian-c-adams/
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