What’s Next?

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What’s Next?

Parcion Private Wealth

16 episodes

7 months ago

What's Next? explores how business owners and their families can optimize a business sale or other wealth event to strategically plan for their futures. Join Terry Cook, CFP®, CIMA®, founder of Parcion Private Wealth in Bellevue, Washington, as he interviews experts from across the financial services industry to help listeners determine what's next.

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Entrepreneurship

All content for What’s Next? is the property of Parcion Private Wealth and is served directly from their servers with no modification, redirects, or rehosting. The podcast is not affiliated with or endorsed by Podjoint in any way.

What's Next? explores how business owners and their families can optimize a business sale or other wealth event to strategically plan for their futures. Join Terry Cook, CFP®, CIMA®, founder of Parcion Private Wealth in Bellevue, Washington, as he interviews experts from across the financial services industry to help listeners determine what's next.

Hosted on Acast. See acast.com/privacy for more information.

Show more...

Entrepreneurship

Episodes (16/16)

What’s Next?

AI Implementation for Business Owners with Natalie Pierce

Join Terry Cook as he speaks with Natalie Pierce, a leading expert in AI and partner at Gunderson Dettmer. Discover how business owners and leaders can harness the power of AI to transform their operations, enhance efficiency, and stay competitive. Natalie shares insights on generative AI, the importance of prompt engineering, and best practices for AI adoption in the workplace. Tune in to explore the future of AI in business.

If you are interested in learning more about how Parcion can support you, please contact us at info@parcionpw.com or visit www.parcionpw.com.

00:54 – Episode introduction

1:30 – Natalie Pierce explains her role at Gunderson Dettmer and her expertise in AI

3:20 – What is Artificial Intelligence? What isn’t it? What is Generative AI?

6:08 – Generative AI versus Machine Learning

10:20 – Training a workforce to use this technology

12:50 – Prompt engineering and upskilling the workforce

18:40 – The dark side of AI, including cybersecurity threats and deep fakes

21:30 – Explanation and importance of a closed enterprise solution

24:45 – Best practices and examples for business owners implementing AI

31:15 – Augmented versus virtual reality

33:50 – Cobots and their use

38:40 – Considerations for employers deploying general or HR AI powered tools

42:00 – Contact information for Natalie Pierce and further resources

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1 year ago

46 minutes 46 seconds

What’s Next?

Unlocking Generational Wealth Conversations with Mike McGrann

In this episode of What's Next? from Parcion Private Wealth, host Terry Cook and guest Mike McGrann, from the Fidelity Center for Family Engagement, discuss legacy preservation and wealth communication. They tackle fears surrounding wealth's impact on future generations and strategies for constructive family dialogue. As a subject matter expert on families of wealth and family-owned firms, Mike shares insights on maintaining healthy relationships around wealth, emphasizing the importance of open communication to prevent misunderstandings and conflicts. If you are interested in learning more about how Parcion can support your generational conversations, please contact us at info@parcionpw.com or visit www.parcionpw.com.

1:00 – Episode introduction

2:52 – Addressing the fear of money ruining kids by utilizing better conversational tools

4:45 – Creating distance with hierarchical behavior

8:20 – Statistics around wealth transfer

10:00 – Defining what "Legacy" means to you

13:20 – Using intentional reflection to define your legacy and relationship to wealth

14:00 – Intended and unintended outcomes and consequences

15:40 – Voice versus vote

16:00 – Peership and commitment to mutuality

18:40 – Real life example of a conversation about wealth with a 14 year old around shoes

21:40 – Real life example of a conversation about wealth with estate planning and family dynamics

25:03 – Fair versus equal

29:20 – Wish versus fear

32:00 – Developing a healthy respect for wealth in your children

36:22 – Takeaways and strategies for constructive family dialogue

44:25 – Fidelity Center for Family Engagement's mission and passion to support family businesses

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1 year ago

49 minutes 24 seconds

What’s Next?

How to Use Employee Stock Ownership Plans (ESOPs) to Optimize Your Business with Ted Lape

In this episode of What’s Next?, host Terry Cook is joined by Ted Lape of Lazear Capital Partners to discuss ESOPs, a tool commonly used to facilitate succession planning, allowing a company owner to sell their shares to support their goals and transition flexibly out of the business. Ted has an impressive 30-year history in the banking industry and has helped many clients with setting up an ESOP at their company. More information about ESOPs can be found in our whitepaper “How to Successfully Exit Your Business with an Employee Stock Ownership Plan (ESOP)” available on our website www.parcionpw.com or at www.lazearcapital.com/.

1:35 – Ted’s introduction to ESOPs

2:44 – What is an ESOP?

3:30 – How are ESOPs different from ESPPs (Employee Stock Purchase Plan) or other employee stock

ownership plans?

5:30 – Mechanics, steps, and benefits of ESOPs, timeframe

7:55 – How is an ESOP different from a direct sale?

13:20 – Advantages

14:20 – Disadvantages

14:58 – Example when ESOP is the right solution

18:40 – Financing options and involvement

24:40 – Why don’t more business owners choose to exit with an ESOP?

26:20 – Cost and professionals involved

30:50 – How an ESOP can help ensure a legacy for a business owner

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2 years ago

36 minutes 20 seconds

What’s Next?

An Intro to the Stanford Seed Program with JoAnna Halk and Mark Phelps

In this episode of What’s Next?, JoAnna Halk, an associate director for the Stanford SEED Program, and Mark Phelps, a retired serial entrepreneur and Stanford SEED coach, join host Terry Cook to discuss the benefits of the SEED program, the unique opportunities it presents to business owners, and effect that it’s had on participating companies across Africa and Southeast Asia.

More resources at www.parcionpw.com and https://www.gsb.stanford.edu/seed.

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2 years ago

41 minutes 16 seconds

What’s Next?

Managing the Transition of Selling Your Business and Other Lifequakes with Bruce Feiler

For this episode, Terry Cook is joined by Bruce Feiler. Bruce is the author of seven New York Times bestsellers, including Life Is in the Transitions and Secrets of Happy Families. His three TED Talks have been viewed more than 4 million times. In their conversation, Bruce and Terry dive into navigating challenging life and family moments and discuss Bruce's new book, The Search, about finding meaningful work.More resources at www.parcionpw.com and www.brucefeiler.com.

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2 years ago

40 minutes 15 seconds

What’s Next?

Venture Capital Explained with Brendan Wales

Join Terry Cook and Brendan Wales, general partner of Fuse, an early-stage venture capital firm, as they discuss all things venture capital, including how firms like Fuse operate and the opportunities available to interested investors. More resources at www.parcionpw.com and www.fuse.vc.

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2 years ago

36 minutes 33 seconds

What’s Next?

Donor-Advised Funds - A Primer with Colby Bircher

Join Terry Cook and Colby Bircher, vice president of charitable planning at Fidelity Charitable, as they discuss how donor-advised funds can be used as a tool for impactful philanthropic planning and the advantages of this form of charitable investing. More resources at www.parcionpw.com and www.fidelitycharitable.org.

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3 years ago

34 minutes 31 seconds

What’s Next?

Private Aviation 101 with Craig Ross

Join Terry Cook and Craig Ross, CEO and Founder of Aviation Portfolio LLC as they discuss all things private aviation – from the various models currently in vogue to trends in private jet travel. More resources at www.parcionpw.com and www.aviationportfolio.com.

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3 years ago

32 minutes 33 seconds

What’s Next?

360-Degree Insurance Planning for Wealth Events with Lorrie Baldevia

Join Terry Cook and Assured Partners Agency COO Lorrie Baldevia as they discuss what business owners should consider – both from a business and a personal perspective – when navigating insurance planning and potential consulting services for a successful business transaction.More resources at www.parcionpw.com and www.assuredpartners.com.

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3 years ago

30 minutes 15 seconds

What’s Next?

Engaging M&A Attorneys for Business Transactions with Tana Materi

Join Terry Cook and Carney Badley Spellman Mergers and Acquisition Attorney Tana Materi as they discuss what business owners should consider when choosing a mergers and acquisitions lawyer and share some tips for a successful transaction.More resources at www.parcionpw.com and www.carneylaw.com.

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3 years ago

41 minutes 20 seconds

What’s Next?

Engaging Investment Bankers for a Business Sale with Brian Murphy

Join Terry Cook and Meridian Capital Investment Bank President Brian Murphy as they discuss what business owners should consider when choosing an investment bank and how to go about the search for an investment banker.

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4 years ago

32 minutes 53 seconds

What’s Next?

Keys to Estate Planning with Eric Fahlman

Join Terry Cook and Fahlman Olson & Little, PLLC Co-Founder Eric Fahlman as they discuss estate planning basics and tools, such as Spousal Lifetime Access Trusts (SLATs) and Intentionally Defective Grantor Trusts (IDGTs) and walk through a client case study, highlighting aspects that might apply to others going through a wealth event.More resources at www.parcionpw.com and www.faolaw.com.

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4 years ago

39 minutes 14 seconds

What’s Next?

Overcoming Gender Bias to Amplify Women’s Voices with Kendall Anderegg

Join Terry Cook and Mutual Materials President Kendall Anderegg as they discuss unconscious gender bias in the workplace, what it means to be a strong female leader in a male-dominated industry and how colleagues can demonstrate effective allyship.More resources at www.parcionpw.com and www.mutualmaterials.com.

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4 years ago

36 minutes 11 seconds

What’s Next?

Introduction to M&A for Business Owners with Michael Butler

Join host Terry Cook and Michael Butler, co-founder and CEO of Cascadia Capital, as they discuss what every business owner needs to know before selling a business. From selecting an investment banking partner to deciding whether moving forward with a sale is the best decision for you, Michael and Terry share what they’ve learned from their joint decades of experience overseeing mergers and acquisitions. Learn how business owners and entrepreneurs can optimize a sale in Parcion’s whitepaper at parcionpw.com/whitepapers and visit www.cascadiacapital.com for more information on Cascadia Capital.

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4 years ago

33 minutes 4 seconds

What’s Next?

Exploring Opportunity Zones Part 2 with Peter Ciganik

In the second episode of our two-part series on Opportunity Zones, we dive into the “nuts and bolts” of this investment structure through the eyes of a developer. Host Terry Cook welcomes Peter Ciganik, managing director of strategy, research and investor relations at GTIS Partners, to share his insights on what factors to consider when evaluating a potential Opportunity Zone investment. Learn more about opportunity zones in Parcion’s whitepaper at https://parcionpw.com/whitepapers and visit https://www.gtispartners.com for more information on GTIS Partners.

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4 years ago

41 minutes 31 seconds

What’s Next?

Exploring Opportunity Zones Part 1 with Greg Porter

In the inaugural episode of What’s Next?, CBIZ Berntson Porter Managing Director and co-founder of newly acquired Berntson Porter & Company, Greg Porter, joins Parcion Private Wealth’s Terry Cook to discuss the benefits of Qualified Opportunity Zone investments, a powerful tool that can significantly help mitigate the tax implications of wealth events such as the sale of a business. Learn more about opportunity zones in Parcion’s whitepaper at https://parcionpw.com/whitepapers and visit https://www.bpcpa.com/ for more information on Berntson Porter, now CBIZ Berntson Porter.

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4 years ago

34 minutes 42 seconds