Wednesday October 12 - Friday October 14, 2022
AFHE is hosting its 2022 Fall Conference & Membership Meeting at the Omni Orlando Resort at ChampionsGate in Orlando Florida .
"Building a Toolkit for Family Enterprises"
"Allyn Family 2:0: The Transition from an Operating Business Family, to a Financial Family"
In 2015, the family business Welch Allyn was sold, after 100 years of Allyn family ownership. Eric Allyn, the 4th Generation Chairman of the Board in the 6 years before the sale, will discuss the challenges in moving a family from owning an operating business, to being a financial family. You may recall Eric’s discussion at AFHE 2018 on “Selling the Family Business When You Don’t Want to Sell the Family Business”, and AFHE 2019 on “The Sale of Welch Allyn, and the Rebuilding of the Allyn Family Foundation”. Eric will continue with the next chapter of his family’s transition, particularly related to issues related to Trusts, Investments, “Trimming the Family Tree”, and Building Identity in a post-sale world. Today, the Allyn family spans 3G, 4G, 5G and 6G, which certainly adds unique challenges.
Eric Allyn is the former Chairman of the Board of Directors of Welch Allyn, Inc, a company owned by the Allyn Family for 100 years, and sold in the year 2015. Since then, he has helped to shape the next chapter of his family’s legacy, between their Foundation, Family Office, and Investments. Today, he is Managing Member of 50 State LLC, the Family Office for the Allyn family, as well as Chief Investment Officer for ALL-YN Investments. In addition, Eric serves as Trustee to over 75 Family Trusts, and serves on the Board of Directors of the Allyn Family Foundation, where he has chaired the Investment Committee since 2008. Outside of his work with his family, Eric also serves on the Board of Health Care Originals; as LP Advisor to Armory Square Ventures; serves on Upstate Medical University Council; and most recently on the Board of Pathfinder Bank, a small publicly-traded bank in upstate New York. He also serves on the various boards and committees of other Family Offices across the country. In addition, Eric is Founder and Managing Partner of two private Investment Funds, which he has managed since 2011. Eric is a past board member at GOJO (makers of Purell), Pharma Tech Industries, Eagle Dream Health, Hand-Held Products, The Gifford Foundation (Investment Committee Chairman), NYS Business Council, and Family Firm Institute (FFI). He also served on the Board of Directors Auburn Community Hospital (past-Chairman), the Hospital Trustees of New York State (Chairman), and Hospital Association of New York State (HANYS). Eric is a frequent speaker nationally and internationally on the topics of family business governance, family enterprises, philanthropy, and investment management. Eric is a graduate of Dartmouth College, and earned his MBA from University of Virginia (Darden School). He lives in Skaneateles NY with his wife and three wonderful adult daughters.
"Creative Compensation Strategies for Multi-Generational Enterprises"
A key part of an effective succession plan for families is creating a “Win-Win” compensation platform among all stakeholders . Properly aligned compensation can help pave the way for the retiring generation to feel secure and properly rewarded for their historical contributions and also recognized as they turn the business over to the younger generation for future growth. As the family continues to attract non-family member leadership, the family’s compensation philosophy must often transform with it. Without the “right” compensation structure and components being put into place prior to these changes, it can be virtually impossible to attract, motivate and retain not only non-family leaders, but top family talent as well. Having strong strategic alignment of the economic interests of both non-family and family leaders can supersize growth and profitability for many generations to come.
Bruce Benesh is an executive compensation advisor with more than 42 years of experience in all facets of compensation arrangements, including strategic and tax planning relating to compensation arrangements and in international human resource consulting. Currently Bruce is the managing Principal at Benesh Consulting Group. Prior to this, Bruce was the national managing partner for Grant Thornton’s Human Capital Services and Family Business Practice. He was also the partner-in-charge of Arthur Andersen’s North American and Latin American Human Capital Practice and the Divisional President of a consulting practice for a publicly traded company.
Greg Ungemach is the CEO of MedPro Systems, a data and services firm supporting the Life Sciences industry adhere to regulations such as Aggregate Spend, DSCSA, PDMA, and Stark Law. Greg has been with MedPro for over ten years, and held roles in product development, pre-sales, data acquisition and planning. Prior to joining MedPro, Greg was an Analyst at Accenture supporting clients in the communications and pharmaceutical industries with technology enablement projects and strategic planning. In his current role at MedPro, he sets the strategy and direction for the long-term vision of the company to deliver solutions and services. He manages a senior leadership team responsible for 160 employees who execute daily operations for MedPro in support of over 700 Life Sciences customers.
"How to Assess Next Gen Leaders; Creating Competitive Advantages for Advisors and Family Enterprises"
At root, all of us 1) assess client needs, 2) recommend next steps, and 3) serve client outcomes. Assessments describe what performance or behavior outcomes can be observed or developed in a family system. Our clients expect more digital, validated assessments than ever before. They demand more transparency and feedback. Many of our clients struggle with succession planning, continuity, wealth transfer, conflict, and communication problems. So, how do you know what to assess and recommend for your clients? This session will describe trends in both qualitative and quantitative assessments, practice new skills in a case study break out activity and provide free resources that AFHE participants can use immediately.
Doug Gray, Ph.D. is a consultant with The Family Business Consulting Group where he specializes in leadership development, succession planning and building family unity in enterprising families. He assists family-owned firms and leadership teams with assessments and strategic solutions that leverage his expertise in positive psychology, outcome-based consulting, executive coaching, conflict resolution, family meeting facilitation and succession planning. Doug particularly enjoys developing collaborative relationships between generations of leaders so that those inside and outside the family can perpetuate the processes and systems required for continued growth. As an author and expert presenter, Doug often coaches newly promoted family business leaders on executive presence, communication skills and conflict resolution.
"The Re-Birth of a Family Enterprise
After a Major Crisis"
Unfortunately, no business is immune to crisis. Family businesses, when faced with crisis, experience it both on an interpersonal level as well as an organizational one. Meredith Wilson Parfet, CEO of the Ravenyard Group, describes the inner and outer world dynamics of a family enterprise in crisis and offers tools for navigating the complex technical and strategic demands while also protecting the wellbeing of the people involved. Meredith has an MBA from the Kellogg School of Management and an MA in Spiritual Care from the Iliff School of Theology. In addition to her work in crisis management, she also works a few shifts a month as a hospice chaplain. Meredith is regularly featured in Fast Company, Mindful Magazine, Law360 and Lawline.
is the CEO and Founder of Ravenyard Group, a crisis management consultancy with expertise in matters that involve legal or regulatory action, white-collar crimes, large insurance litigation, or complex family-office disputes. (www.ravenyard.com) Ravenyard is unique in its emphasis on problem solving and strategy and in supporting the wellbeing of leaders in crisis. Meredith is an accomplished investor, seasoned entrepreneur and a passionate philanthropist. She has nearly two decades of asset management and hedge fund experience, including acting as the Chief Operating Officer for two alternative investment funds. She also co-founded Denali Venture Philanthropy, an investment organization that funds entrepreneurs who are committed to social change.
"The Evolution of Dispute Resolution - Alternative Strategies for Family Conflict Resolution"
Collaborative Practice is a sophisticated dispute resolution process whereby clients actively participate (with the guidance of counsel) in a structured interest-based negotiation with the sole purpose of reaching a settlement outside of court. Collaborative Practice has enjoyed overwhelming success in family-related disputes here in the U.S. and internationally.
Marc Sheridan, Esq., AFHE Board Member, founder of the New York Civil Collaborative Group, trainer, Northeast Regional Chair of the Global Collaborative Council, and Committee Chair of the International Academy of Collaborative Professionals Trainers’ Development and Practice Group will discuss his and colleagues’ success in tailoring Collaborative Practice to family business disputes. Attendees will be introduced to the Civil Collaborative Practice structure, understand its distinctions from other forms of dispute resolution (including interdisciplinary teams and roles), learn about its application to the unique strengths and challenges of a family business, and know how they can make Collaborative Practice a part of their dispute resolution toolkit offerings.
Marc Sheridan has represented individuals, closely-held and family businesses, and multi-national clients for over twenty years concerning commercial disputes and employment discrimination claims in state and federal trial and appellate courts, and arbitral forums. He has extensive litigation experience representing corporate clients on risk transfer and liability issues involving commercial leases and construction contracts.
In addition to his litigation experience, Mr. Sheridan is a panel mediator for the Supreme Court, Westchester County Commercial Division and Civil Panels, and Westchester County and Bronx County Surrogate’s Court Panels, and an employment discrimination panel mediator for the United States District Court for the Southern and Eastern Districts of New York. Mr. Sheridan co-authored the 9th Judicial District Presumptive Mediation Program Rules and the Westchester County Surrogate’s Court Presumptive Mediation Program. Mr. Sheridan is also a Board Member for Attorneys for Family-Held Enterprises (AFHE) and Assistant Treasurer for the Westchester County Bar Association. Mr. Sheridan is a former Chair of the Westchester County Bar ADR Committee, and a member of the New York State Bar Association ADR Section. Mr. Sheridan has also made various CLE presentations on employment law and ADR topics, including trainings for mediators on mediating personal injury matters, family business, and trust and estate disputes.
Over the last decade Mr. Sheridan has become a recognized speaker on Civil Collaborative Practice. He is Co-Chair of the Trainers Networking and Development Committee for the International Academy of Collaborative Professionals (IACP), and the Northeast Regional Director for the Global Collaborative Law Council (GCLC), and has trained numerous lawyers and other professionals on Civil Collaborative Practice both domestically and internationally.
"Bringing Generations Together - The Importance of Governance Utilizing Private Family Trust Companies"
The expansive use of trusts to transfer wealth between generations has fundamentally changed the ways in which business-owning families need to think about governance. This includes how to keep beneficial owners engaged in a meaningful way, how they can make decisions together that are within the proper areas of authority & how to expand their shared learning to include the structure & usage of trusts. Private Family Trust Companies (“PFTC”) can be set up with a focus on bringing generations together at the same table providing more education & transparency in an attempt to harmonize wealth planning & facilitating family business shareholder transitions. Understanding the family dynamics and considering these dynamics when structing a PFTC are important components to the design of a PFTC. From the structure to the operations, thoughtful consideration can help create a positive experience for family members having a PFTC as Trustee of family trusts.
Cindy L. Steeb is the Founder & President of CLS Consulting, LLC where she is a consultant & advisor working with family businesses transitioning ownership across generations. Cindy develops trusting client relationships through her interpersonal skills, strong business judgment, & sensitive approach to family & business dynamics. She draws on experience she has gained working in four different single-family offices. Cindy has formed trust companies in Ohio, Wyoming, & South Dakota and has managed trust companies in Ohio, Wyoming & Delaware. She currently serves on the Board and/or as an Officer for 4 private trust companies & one public trust company.
Todd Smith is a Principal at CFAR, where he specializes in working with multi-generational family enterprises. He is seasoned consultant who has worked with family and owner-led business for over two decades in the areas of governance, education, strategy, and communication improvement. With a large and diverse client list spanning numerous industries, Todd brings deep experience in strategy, process improvement, and organizational alignment to his client engagements. Todd’s unique perspective has been honed over hundreds of engagements with large and mid-sized family enterprises. In addition to working as a family business consultant, Todd served as EVP of Strategy & Governance within a complex multi-generational family office. He is a skilled facilitator, able to adapt quickly to a variety of business and interpersonal challenges as they arise. He enjoys assisting families in successfully managing the competing demands of running a thriving business enterprise while maintaining family cohesion and ensuring longevity.
"From Immigrants to a Publicly Traded Thrift - It's a Wonderful Life!"
Marc Stefanski from Third Federal will share how his family started the bank and how it grew into a savings and loan powerhouse in Cleveland by going public. Throughout the company's history, they have been focused on helping people in the community through the Third Federal Foundation and Rhonda's Kiss Foundation. Marc will also discuss how the 3rd generation of his family is taking on the leadership roles in the firm. With the company's growth and continue family ownership, Marc will share how his family is facing the challenges of maintaining the culture and values that the founds instilled in the family and the institution.
Marc Stefanski joined Third Federal in 1982 and succeeded his father, founder Ben Stefanski, as chairman and chief executive officer of Third Federal in 1987. Mr. Stefanski has maintained and grown the mission his parents established when they founded the company in 1938 – helping people achieve the dream of home ownership while creating value for its customers, communities, associates and stockholders.
The company achieves its mission while staying true to its values of love, trust, respect, and a commitment to excellence.
Since Mr. Stefanski became chairman, Third Federal has grown from $1.8 billion to $14.5 billion today, with retail branches in Ohio and Florida. Through the company’s more than 1,000 associates, Third Federal does business in 25 states and the District of Columbia, reaching approximately 65 percent of the U.S. population.
During his 35 years as Chairman and CEO, Mr. Stefanski has led Third Federal with the belief that the role of a company goes beyond making a profit; that it also has a social responsibility to make the world a better place.
In 2007, Third Federal made a minority public offering. From the IPO, the $55 million the Third Federal Foundation was created. To date, more than $30 million has been donated to the communities Third Federal serves, supporting education, housing, and health initiatives.
"Strategies for Dealing with Family Mental Health Issues with Multi-Generational Family Enterprises"
Educate and train attendees regarding the options available in the legal and related mental health systems to enable them to assist their family-held enterprises when challenges and concerns arise. Provide a roadmap for attendees to know when and how to reach out to appropriate professionals in this area. Inform attendees of relevant red flag laws and red flag behaviors in order to be preventive and proactive when faced with mental health related concerns that have arisen in the family unit and/or business setting.
Carolyn Reinach Wolf, Esq., is an Executive Partner in the law firm of Abrams, Fensterman, LLP and Director of the Firm's unique Mental Health Law practice, a practice she created over thirty years ago, after seeing the need to support families and address their needs in obtaining treatment, support and a roadmap for those experiencing serious mental health, substance use and related issues. It is the only family-focused mental healthcare practice in the country, concentrating in guiding these families and their loved ones through the complex legal, healthcare and mental health systems. Her background also includes her having an MBA in Management from the Hofstra University School of Business and an MS in Health Services Administration from the Harvard School of Public Health in addition to her JD from the Maurice Deane School of Law, Hofstra University. She was a hospital administrator/Director of Risk Management prior to her law career and she currently teaches Law and Psychiatry at Hofstra Law School. She speaks widely throughout the country and has been interviewed on radio and television, online and in person, as well as published in major journals and newspapers.
"Creating Legacy and Building Generational Leadership: Supporting Family-Held Enterprises In Making Impact Through Philanthropy and Angel Investing"
Philanthropy is good for families. When a family is philanthropic and when the family-held enterprise’s mission is clearly defined – future generations have incredible lessons to learn and opportunities to grow and flourish. Legacy building, when facilitated properly, can create leadership moments within family-held enterprises that elevates rising generational voices and grows future leaders. The best practice to grow leadership and to build enthusiasm and excitement for the future often can be rooted in philanthropy and family leadership.
Through this presentation and conversation, practitioners will walk through a legacy building gift – beginning with a family as they coalesce around their goals and then advancing through sample institutional policies, potential roadblocks and key moments to elevate the family-held enterprises’ mission, vision and values to further the reach and impact of this philanthropic commitment. Through a thoughtful plan, each generation will see their own voices elevated and connect even further to the mission of both the family-held enterprise AND the purpose of the philanthropic gift.
- Model guide for practitioners in working with charitable organizations for philanthropic gift
- Conversation guide as family-held enterprise coalesces around goals and values related to this potential gift
- Sample language for gift agreements and MOUs
- Examples of national “gifts gone bad” – when the donors’ wishes were no longer met by institution
For sixteen years, Mitchell Spearman has partnered with individuals and families across the United States and three continents to achieve transformative impact to benefit humanity.
Mitchell creates a values-based learning program tailored uniquely for each client’s goals and objectives. The learning program is curated with practical experiences that include storytelling, site visits, family history lessons and individual purpose and mission work to ensure the most joyful and rewarding results. Mitchell believes that identifying core values, stating purpose and the development of a shared mission and vision creates opportunities for discernment and conversations that fuel even greater impact – within the life of the individual or the family.
Mitchell is a graduate of The University of South Carolina School of Law where he was awarded a Juris Doctorate degree and recognized for his service to the university community and the state of South Carolina. He is also a graduate of Presbyterian College where he served as student body president for two terms and served as a student member of the Presbyterian College Board of Trustees. Mitchell is a member of the South Carolina Bar. His greatest joy in life is being called Uncle Mitchie by two precious nieces who reside in Charlotte, NC.
"Effective Transfer of Leadership in Family-Owned Enterprises"
Professionals and Family Enterprises often focus on developing family decision making, family governance, and business transition plans. Unfortunately, without the successful transfer of leadership from generation to generation, those plans are likely to fail.
During this session, you will learn how to effectively transfer leadership in a Family Enterprise (and the family). The key points are:
- The importance of “Experiential Learning”: “Tell me and I forget, teach me and I may remember, involve me and I learn.” (Ben Franklin and others)
- Monarch to mentor: Creating meaningful opportunities to lead WITH effective mentorship to help guide. Don’t give them a leadership opportunity without the tools to be successful. Ask (and guide). Don’t tell.
- The value of “Pre-inheritance Experiences.” We learn from our mistakes and failures. So, it is OK (and often a good thing) if they make a mistake with a small amount in a controlled environment while the current leadership is there to help them.
- Developing leadership in a Family Enterprise when the wealth creator/entrepreneur is still in charge may be both the most important and the most difficult transition.
Rod Zeeb, JD, HDP™, Founder and CEO of The Heritage Institute. Rod has over three decades of experience in estate planning, charitable planning, and heritage design and is recognized internationally for his contributions to the field. Among the major national conferences and events Rod has spoken to are MDRT, Pershing’s INSITE Conference, NAIFA, AFP, National Network of Estate Planning Attorneys, Securities Industries and Financial Markets Associations (SIFMA ), NAPFA Advanced Planners/Larger Firm Initiative, United Way of America National de Tocqueville Conference, AFP, FPA (national and regional groups), International Association of Advisors in Philanthropy, and many others. Rod typically receives the highest speaker evaluations. Rod has been quoted in The Wall Street Journal, The Christian Science Monitor, Dow Jones News, Macleans Magazine (including international editions), Wealth Collection Magazine, Financial Advisor Magazine, Wealth Manager Magazine, Inside Information, Boomer Magazine, Investment News, Research Magazine, and many other print and online publications.
Rod is also author of Beating the Midas Curse (now in its 3rd Edition) and Family Stewardship, and coauthor of the novel What Matters.
Tentative Conference Schedule
Wednesday, October 12, 2022
5:30 p.m. – 7:30 p.m. Opening Cocktail Reception at Celebration Falls (Dinner on own)
Thursday, October 13, 2022
8:30 a.m. – 9:00 a.m. Breakfast
9:00 a.m. – 9:15 a.m. Opening Remarks
9:15 a.m. – 10:15 a.m. “Strategies for Dealing with Family Mental Health Issues with Multi-Generational Family Enterprises” presented by Carolyn Reinach Wolf
10:15 a.m. – 11:15 a.m. “The Re-Birth of a Family Enterprise After a Major Crisis” presented by Meredith Parfet
11:15 a.m. – 11:30 a.m. Break
11:30 a.m. – 12:30 p.m. “The Evolution of Dispute Resolution – Alternative Strategies for Family Conflict Resolution” presented by Marc Sheridan
12:30 p.m. – 1:30 p.m. Luncheon
1:30 p.m. – 2:30 p.m. “From Immigrants to a Publicly Traded Thrift – It’s a Wonderful Life!” presented by Marc Stefanski
2:30 p.m. – 3:30 p.m. “Effective Transfer of Leadership in Family-Owned Enterprises” presented by Rod Zeeb
3:30 p.m. – 3:45 p.m. Break
3:45 p.m. – 4:45 p.m. “How Creative Compensation Strategies Drive Family Enterprise Growth” presented by Bruce Benesh & Greg Ungemach
4:45 p.m. – 5:00 p.m. Closing Remarks
5:15 p.m. – 6:15 p.m. AFHE Board Meeting (For AFHE Board Members Only)
7:00 p.m. – 10:00 p.m. Group Dinner
Friday, October 14, 2022
8:30 a.m. – 9:30 a.m. Breakfast
9:30 a.m. – 9:45 a.m. Opening Remarks
9:45 a.m. – 10:45 a.m. “How to Assess Next Gen Leaders; Creating Competitive Advantages for Advisors and Family Enterprises” presented by Doug Gray
10:45 a.m. – 11:00 a.m. Break
11:00 a.m. – 12:30 a.m. “Allyn Family 2:0: The Transition from an Operating Business Family, to a Financial Family ” presented by Eric Allyn
12:30 p.m. – 1:30 p.m. Luncheon
1:30 p.m. – 2:30 p.m. “Bringing Generations Together – The Importance of Governance Utilizing Private Family Trust Companies” presented by Cindy Steeb & Todd Smith
2:30 p.m. – 3:30 p.m. “Creating Legacy and Building Generational Leadership: Supporting Family-Held Enterprises in Making Impact Through Philanthropy and Angel Investing” presented by Mitchell Spearman
3:30 p.m. – 3:45 p.m. Closing Remarks
4:00 p.m. – 5:00 p.m. Closing Cocktail Reception (Dinner on own)
Saturday, October 15, 2022
11:00 a.m. (Optional) Golf Outing at the International Course
Golf Outing - Saturday, October 15
AFHE's outing will be held on the International Course of The ChampionsGate golf courses. The International Course was recently ranked no. 9 in the top overall ranked courses by GOLF Advisor. The 7,363-yard links-style International Course is home to sprawling greens and wind-swept dunes, featuring 18 of the most dramatic and challenging holes in the state.
Tee Time: 10:00 a.m.
Cost: Golfers will cover their own greens fees and refreshments for the outing
Please contact AFHE at 201-591-AFHE (2343), or visit www.AFHE.com, or email the AFHE Office.
Click here for the conference booklet.