015 Alison Marckstadt: Creating Family Money Conversations

In this episode, Nathan and Alison discuss: The importance of constructive communication within families Why inheritors need to understand family decisions The differences between a single-family and multi-family office The challenges and opportunities within family wealth succession    Key Takeaways: It is critical for inheritors to understand why decisions were made in order for them to become responsible stewards of wealth.  If you're looking for a CEO successor within a business, generally, there is a job description and a track record that you're considering for any candidate that comes in the door. It should be the same for family members.  Don't assume communication has occurred, have a plan, ask for feedback, and set expectations that open dialogue is an ongoing process. How Succession Advisors created an educational platform of wealth succession resources to meet needs of individuals and families.   "Creating a roadmap in a succession plan is critical. " —  Alison Marckstadt   About Alison Marckstadt: Alison Marckstadt is co-founder of Succession Advisors and has over 15 years of experience in private equity and family office, supporting successful entrepreneurs and investors alike. Most recently, she was a Vice President and Client Relations expert at Caprock, a multi-family office, SEC-registered investment advisory firm focused on developing and advising on customized wealth strategies for individuals and families. Previously, Alison worked for Tom Barrack the Founder/Chairman/CEO of Colony Capital, Inc, where she provided day to day oversight and management of the various aspects of his public and private businesses, in addition to being a Lead for his Family Office team. Prior to Colony Capital, Alison was at Leonard Green & Partners, a leading Private Equity firm based in Los Angeles who primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials; and formerly as the Chief of Staff for Marty Geller of Geller & Company a firm that provides custom strategic financial advisory and wealth management solutions for businesses, individuals, families and not-for-profit organizations, located in New York City. Alison graduated from Vassar College with a B.A. in Philosophy and Chemistry and obtained her Series 65 license, known as the Uniform Investment Adviser Law Examination, in 2019.   Connect with Alison Marckstadt:  Website: https://successionadvisors.com/ Email: [email protected]   Linked In: https://www.linkedin.com/in/alison-marckstadt-a07b0091/   Connect with Nathan Mersereau:  Phone: 248-645-1520 Website: www.dayinacanoe.com Email: [email protected] Twitter: @NathanMersereau LinkedIn: Nathan Mersereau Address: 255 S Old Woodward Avenue, Suite 310 Birmingham, MI 48009   Show notes by Podcastologist: Justine Talla   Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.