Episode 64: Luke Jernagan on Building Family Office Services That Go Beyond the Balance Sheet

Luke Jernagan, Director of Family Learning and Culture at Matter Family Office, joins R. Adam Smith for a conversation about the relational and human dimensions of managing multi-generational wealth. Luke traces his unusual path from Episcopal ministry to family advisory work, and describes how Matter structures its engagement model around communication, shared values, and generational learning — the elements he believes sustain a healthy family enterprise over time. He covers the firm's recent merger with IWP in Denver, the philosophy behind permanent capital ownership, next-gen wealth preparedness, and how families can build a living legacy that outlasts the sale of any single business.00:00 Welcome and host introduction 01:07 Introducing Luke Jernagan and Matter Family Office 02:36 Matter's service model and family office services 04:09 Luke's path from Episcopal ministry to family advisory 07:07 What distinguishes Matter's culture and ownership structure 09:50 Communication as the foundation of family enterprise 12:30 Concentrated wealth and preparing families for a sale 15:09 Next-gen readiness and whole-family education 17:21 Human capital, Barry Wehmiller, and Kathy Lintz's vision 20:58 Trends in ultra-high-net-worth families and the industry 25:41 Stewardship curriculum and next-gen engagement 28:34 Redefining legacy beyond the family business 31:05 Closing reflections and a note on St. Louis