015 Alison Marckstadt: Creating Family Money Conversations

Day in a Canoe Podcast: Financial Planning, Wealth Management, RIA

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: [phone]

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.