Luke Jernagan, an ordained priest in the Episcopal Church and Director of Family Learning at the Matter Family Office, passionately shares the value of counseling for wealthy multigenerational business owners and their families. The problems facing any family are complicated; however, the issues can escalate when wealth is added to the equation. The Matter Family Office provides tools that enable families to work through problems while focusing on identity, values, vision, and purpose. Tune in to hear how this type of counseling creates a foundation for families to thrive over generations.
IN THIS EPISODE:
- [01:33] Luke Jernagan explains the purpose of The Matter Family Office
- [04:04] The benefits of communication
- [06:27] Luke describes the differences between secular counseling and the counseling done at The Matter Family Office
- [11:04] How successful families navigate the wealth they have by listening, identifying purpose and intent
- [15:33] Bringing in-laws into a family business seamlessly
- [17:54] Encouraging parishioners to seek outside counseling and the rules regarding that situation in the Episcopal Church
- [21:09] Luke leaves us with a takeaway about himself and his passion
- Multi-generational families with businesses have obstacles that other families do not. It takes effort to manage wealth and teach children how to manage money successfully..
- Extended family within the business can bring another set of problems. The best way to handle those joining the existing family is to have a plan before the situation arises.
- It is essential to begin training children early about the mechanics of running a business and the pitfalls they may face.
- Business owners need to realize that all the tools and knowledge they have that create a successful business are different from the tools that make a healthy, thriving family.
Luke joined Matter in 2022 after 15 years as a parish priest in the Episcopal Church. He was drawn to the Family Matter Office for many of the same reasons he is drawn to ministry – his love of helping people celebrate the joys of life – and has deep experience guiding families as they navigate complexities, transitions, and opportunities.
As Matter’s Director of Family Learning, Luke works with families to strengthen their relationships, communicate effectively, and identify what matters most to them, so they can thrive as individuals and together. He also leads Philanthropic Strategic Planning and Next-Gen Education at Matter and enjoys supporting family members of all ages and financial acumens on their wealth journeys.
A graduate of the University of Alabama with master’s degrees in divinity and sacred theology from the General Theological Seminary, Luke is also a trustee of American Friends of the Anglican Centre, a Rome-based organization working to promote reconciliation across denominations. He serves on the board of the Episcopal Parish Network, which encourages innovation and collaboration across the church. He is a board member of the Cricket Island Foundation, which funds organizations that support youth-led social change.
Luke is a lifelong learner and is drawn to hobbies and activities that lend themselves to continuous improvement. Nothing makes him happier than skiing with his kids and pushing himself to tackle harder runs and techniques. Golf is another passion (he picked it up during the pandemic, and now he’s hooked), though Luke notes that woodworking with his children is more satisfying and produces better results…time together and a hand-made item that will last forever.
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