Family Business Audiocast

Kelly Pollock, CEO of the Burgess Family Foundation, and Betsy Cohen, philanthropic futurist and founder of FutureGood, join R. Adam Smith for a wide-ranging conversation on strategic philanthropy, community impact, and the evolving role of family enterprise in shaping long-term social change. Drawing on decades of experience in nonprofit leadership, trust banking, and futurism, Kelly and Betsy explore how family foundations can deepen community relationships, navigate generational transitions, and move from transactional giving to sustained impact. The conversation also touches on AI's emerging role in the nonprofit sector, the diverging philanthropic priorities of G1 and G2, and what it means to be a builder — not just a buyer — in your community.00:00 Welcome, Introductions & Guest Backgrounds02:01 The Burgess Family Foundation: Mission and Structure03:04 FutureGood: Philanthropic Futurism Explained04:19 Kelly's Path from COCA to Family Foundation CEO06:07 Betsy's Journey from Corporate Futurist to Philanthropic Advisor08:10 Translating Family Passion into Strategic Philanthropic Investment10:31 St. Louis Philanthropy: Depth of Community and Collaboration12:11 Collaborative Funding Initiatives Across the Region15:51 FutureProof: Bringing Nonprofits Together for Shared Planning16:35 Next Gen Engagement Inside the Burgess Family Foundation18:29 G1 vs. G2 Philanthropic Priorities and the Generational Shift20:53 Scale of Family Office Philanthropy: Data and Trends24:50 Unlocking Capital Beyond Grant Making26:37 Innovation, Risk Capital, and Scenario Planning in Philanthropy29:02 AI's Impact on Nonprofits and Family Foundations31:09 Next Gen Leadership and Being a Student of the Work35:07 Closing Reflections: Buyers vs. Builders

Philip Marcovici — international tax lawyer, author, and advisor to ultra-high-net-worth families — joins R. Adam Smith to explore what it takes for a family enterprise to endure across generations. Drawing on decades of advising families across Asia, Europe, and beyond, Philip challenges the assumption that culture determines planning outcomes, arguing that wealth's destructive potential is universal. The conversation spans governance structures, the role of advisors, next-generation stewardship, tax system reform, and the concept of regenerative wealth — connecting the internal health of a family enterprise to its obligations and impact in the wider world.00:00 Welcome & Philip Marcovici Introduction02:22 Career Background & Baker McKenzie Years03:16 Culture, Governance & Global Family Patterns05:31 Family Enterprise: Long-Term Vision Planning08:30 Advisors, Education & Asking Better Questions10:45 Governance Structures & Legal Frameworks15:54 Using a Governance Entity Across Structures16:50 Tax Systems, Non-Dom Reform & the UK Example20:53 Corporate Tax, Family Wealth & Economic Impact23:41 Regenerative Wealth & the Family Enterprise Role in Society26:00 Internal vs. External Sustainability: Bridging the Silos30:13 Tax, Branding & Wealth's Obligation to Society32:58 Emotional Intelligence & Next-Gen Succession37:19 Closing Reflections & Sign-Off

James Rosebush — Reagan White House veteran, author, and family office advisor — draws direct lines between presidential leadership and multigenerational stewardship. Having worked alongside Reagan as Chief of Staff to the First Lady, Rosebush witnessed firsthand how indifference to public opinion, deep spiritual conviction, and a relentless drive to understand "what is really going on" shaped one of history's most consequential presidencies. He translates those lessons into the realities of family enterprise: the complexity of working with difficult wealth creators, the emotional demands placed on advisors, and why integrity compounds over time just as capital does. 

Emily Balentine Barbour, Partner and Head of Client Engagement and Family Legacy at Balentine, shares her unique perspective as a third-generation member of an Atlanta-based wealth management firm. The conversation explores Balentine's journey from sale to major bank during the financial crisis back to independence in 2010, now managing $8.5 billion under advisement. Emily discusses the evolution of wealth management beyond investment performance to encompass family legacy planning, the importance of engaging spouses and next generations for retention, and how AI enhances client relationships. She emphasizes that modern family financial planning requires integrating values with financial strategy while maintaining independence from private equity pressures.

Jeremy Cheng, Principal at Lansberg Gersick Advisors, shares his approach to building learning capacity for enterprise families across Asia and beyond. Broadcasting from Hong Kong, Jeremy discusses the evolution of family business enterprise education, the importance of continuous curriculum development, and how families can embrace portfolio thinking for rising generations. He explores cultural differences between Eastern and Western approaches to family wealth office management, the role of emotional intelligence in mentorship programs, and why allowing the next generation to reinterpret legacy is essential for long-term continuity and individual freedom.00:00 Introduction to Jeremy Cheng 02:05 Journey into family enterprise advisory 04:22 Evolution of learning systems 05:07 Research and generational transitions 07:00 Gaps in family enterprise education 08:00 Curriculum development essentials 10:15 Core competencies across generations 12:30 Portfolio thinking in Asia markets 14:45 Thailand and Philippines comparisons 17:00 Rising generation venture development 19:20 Owner versus governor role clarity 22:31 Expectations and emotional intelligence 23:15 Mentorship program implementation 26:40 Governance and power dynamics 27:10 Reinterpreting legacy for freedom 29:02 Closing thoughts on continuity

David Werdiger returns to discuss his Power of Pause Institute and the concept of time as a critical leadership asset. Drawing from his experience as a second-generation family business enterprise member and decades advising high net worth families, David explores how family enterprise leaders can create clarity through intentional pause rather than constant urgency. The conversation covers stewardship principles learned from nonprofit boards, the importance of manufactured adversity in rising generation education, and navigating binary decisions like selling versus keeping family assets. David emphasizes that family wealth office governance thrives when leaders balance strategic clarity with relational awareness and treat time as their most valuable resource.00:00 Introduction to David Werdiger 01:57 Origins of the Power of Pause 04:03 Second-generation business experience 06:07 Time as a leadership resource 08:00 Leadership styles and patience 10:15 The pause practice framework 12:30 Technology and intentional time 14:45 Decision making under pressure 16:52 Rising generation preparation 20:29 Manufactured adversity concept 22:45 Binary decisions in transitions 24:49 Learning to be good owners 26:33 Making every day intentional

Dr. Jan-Philipp Ahrens, leading scholar at the University of Mannheim, discusses his groundbreaking research at the intersection of family enterprise, artificial intelligence, and sustainability. As a fifth-generation family business successor, Jan brings personal insight to his academic work leading an interdisciplinary research group that combines data science with traditional business research. The conversation explores how family businesses navigate succession, governance, and digital transformation while maintaining their unique values. Jan introduces his intelligent entity view theory, examining how family wealth office structures and organizational memory influence innovation and sustainability outcomes in an evolving global economy. 00:00 Introduction to Dr. Jan-Philipp Ahrens 02:00 The interdisciplinary research group 03:30 Research focus on sustainability and AI 05:00 Fifth-generation family business experience 08:00 Personal journey through crisis management 12:00 Academic research methodology approach 15:30 Big data and AI in business research 18:00 Sustainability challenges for firms 21:00 Family office management and governance structures 24:00 Innovation and digital transformation 27:30 Female leadership and board diversity 30:00 The intelligent entity view theory 34:00 Organizational memory and routines 36:00 Future of AI integration in firms

 Suzanne Gyorgy, Partner at Emigrant Bank Fine Art Finance, shares her expertise on the intersection of art and wealth management. With over 35 years of experience advising collectors and institutions, Suzanne explores how family wealth office strategies incorporate art as an asset class. The conversation covers art finance fundamentals, leveraging collections for liquidity without selling, and the evolution of collecting across generations. Suzanne discusses family estate planning considerations for collectors, the growing presence of women in the market, and how Emigrant's integrated approach combines advisory, appraisals, and financing services to support families worldwide.  00:00 Introduction to Suzanne Gyorgy 02:09 Core services at Emigrant Fine Art Finance 04:21 Working with family office management structures 06:19 Evolution of art finance and lending 07:37 Leveraging collections for family financial planning 09:53 Art as collateral and succession considerations 13:04 Regulatory landscape and appraisal standards 16:07 Women collectors shaping the market 19:13 Digital transformation in art acquisition 23:20 Viewing art online versus in person 25:16 Next generation collectors and trends 27:47 Liquidity management for family estate planning 28:50 New artists and accessible price points 30:32 Final thoughts on collecting and wealth 31:35 Closing remarks 

John Koeppel, partner at Lippes Mathias LLP and leader of their private equity and independent sponsor practice, joins host R. Adam Smith to explore how independent sponsors are transforming direct deal making. With over 250 transactions closed, Koeppel shares insights on why family investment office structures are increasingly backing fundless sponsors, the strategic advantages of flexible deal structuring, and the critical dynamics between sellers, sponsors, and capital partners. The conversation covers QSBS tax benefits, succession planning for family enterprise transitions, and the essential mentorship role legal advisors play in navigating complex lower middle market transactions. 00:00 - Welcome and introductions 02:17 - John's practice and client base 04:41 - Flexibility in deal structuring 06:09 - Direct deal making expansion 08:54 - Operating expertise and value 10:20 - Deal sourcing strategies 12:53 - Structure and economics 14:40 - GP commitment expectations 16:56 - Post-closing governance 18:59 - Deal timelines 20:42 - Seller rollover equity 22:29 - Exit considerations 24:35 - Common challenges 27:18 - Industry activity levels 29:27 - Seller relationship importance 31:00 - Three-party dynamics 33:22 - Mentorship and persistence 35:35 - Final thoughts and closing

Henry Brandts-Giesen, global co-chair of Dentons' high net worth group, explores the rapid evolution of private wealth in Asia and the professionalization of family office services. The conversation examines Singapore's emergence as a global wealth hub, the complexities of intergenerational transitions, and the critical role of governance in sustainable family wealth management. Brandts-Giesen shares insights on moving from founder-directed models to democratized decision-making structures, emphasizing the importance of human capital alongside financial capital. The discussion addresses philanthropy, social license, and how technology enables more sophisticated family enterprise operations across borders.00:00 - Introduction to Henry Brandts-Giesen and Dentons02:16 - Asia's wealth transformation and Singapore's rise as a hub05:38 - Generational transitions and family office management evolution09:12 - Professionalizing family wealth and governance systems12:46 - Redefining next generation succession planning15:41 - Family capital beyond financial metrics18:00 - Fundamental questions of governance and decision-making21:28 - Philanthropy, impact, and social license for family wealth office structures23:53 - Technology and the future of family business enterprise26:19 - The human element in wealth advisory28:00 - Closing remarks