Exclusive to Business Families
November 18-20, 2022 [CONCLUDED]
Banff Centre for Arts and Creativity

  • See this year's key takeaways
  • Focused on today's issues and tomorrow's opportunities
  • Learned together in nature!

  • Drew on shared wisdom, contrasting opinions and solution-driven ideas
  • Designed for families who work together
  • See what we learned in 2021
Hosted by

Powered by

 
Family Enterprise Canada Monthly Barometer Family Enterprise Foundation

 

Supported by



 
Talsom Watershed Inc  

Why Attend

New Connections

Make new connections with business families from across Canada who understand your unique reality.

Thought Leaders

Get unique insights and perspectives on today's issues directly from global thought leaders in family enterprise.

New Opportunities

Take full advantage of this Summit to discover the opportunities of tomorrow for your business and family.

Learning Together

Strengthen your family relationships as you and your family members learn, share and grow together in nature.

This Year's Theme was "Preparing for the Unpredictable"


Lend your mind and voice to today's vital conversations in Banff, Alberta at Families Summit of Minds 2022. This year's program will be focused around two main threads:

  1. Key macro issues (economics, geopolitics, society, environment and tech) and how they are likely to evolve and impact your investment and business decisions.
  2. Themes at the intersection of natural capital and the great outdoors, especially their fundamental contribution to our planetary, societal and individual wellbeing.

Over three days, Families Summit of Minds will combine high-level thinking, access to an exceptional network and mind-stretching conversations in an informal atmosphere defined by mutual trust. This exceptional alchemy is further enhanced by “walkshops” out in Alberta's beautiful nature peppered with micro-sessions and memorable shared activities in the mountains.

Sessions


Timing: Registration opens Friday, November 18 at 9:30 AM. Opening keynote with Jack Mintz, President’s Fellow, School of Public Policy, University of Calgary at 1:00 PM. Summit concludes Sunday, November 20 at 1:30 PM.

Managing Risk, Maximizing Opportunity

Do family enterprises understand their risk capacity?

In a well-run enterprise, whether family leaders are risk-averse or risk takers, risk needs to be collectively managed.
We will explore whether enterprising families should take on more risk and ask:

  1. As we identify family enterprise risks, how should we prioritize them?
  2. How do we assess our appetite for risk or measure risk capacity?
  3. How do we convert that knowledge into a board strategy?

Introduction: Geoff Powter, Co-Founder, Watershed Inc.

Facilitator(s): Devin DeCiantis, Managing Partner, LGA

Panelist(s): Patricia Saputo, Crysalia, Steven Hirth, Hirth & Associates and Naim Ali, SM2 Capital Partners

In a well-run enterprise, whether family leaders are risk-seeking or risk-averse, all risks need to be strategically managed. The capacity to deftly manage business or family threats – and seize opportunities – are essential ingredients of resilience. Explored through the lens of behavioral psychology and risk management, and supported by conversations with those who live it, we will explore how managing risk in a family is different from managing risk alone, and how all families can leverage these insights to enhance the continuity of their enterprise.

Fortifying Financials

Family Fortunes: Are there any safe harbours for investing families?

This year has been dominated by global conflict and inflation as the world tries to find a new normal amid the ongoing pandemic. We will ask:

  1. Where should families park their wealth?
  2. What will financial resilience look like in 2023?
  3. Is “stagflation” the new normal?

Introduction: Karl Moore, Associate Professor, McGill University

Facilitator(s): Carine Salvy, Executive Director, Alpine Club of Canada

Panelist(s): Rob Van Wielingen, Viewpoint Group, Max Fortmuller, Vesta Wealth Partners Ltd. and Jack Mintz

This year has been dominated by global conflict and inflation as the world tries to find a new normal amid an ongoing pandemic. Entrepreneurial families are at pains to preserve their wealth. Seeking stronger returns, family offices are piling into private equity. Others see direct investing, which offers more control and lower fees, as a better bet. Some see crypto currencies as the new great hedge against inflation and a platform for growth. Never far are green issues: Future financial regulations that track the environmental cost of activities could alter how businesses calculate profitability. Which way to certainty?

What Price for Sustainability?

The Planet: Can families afford to put off sustainability?

Long term, a hostile biosphere could unleash geopolitical turmoil and slash global economic growth. Is sustainability the way forward? We will ask:

  1. What is the role of private enterprise in saving the planet?
  2. What tangible outcomes can we expect from progressive enterprises?
  3. Governments provide regulatory frameworks. Can family businesses do more?

Introduction: Eric Wetlaufer, Managing Partner, TwinRiver Capital

Facilitator(s): Craig Ryan, Director of Sustainability & ESG, BDC

Panelist(s): Karina Birch, Rocky Mountain Soap Co., Eric Wetlaufer, TwinRiver Capital and Olivier Laquinte, Talsom

Academics, policy makers, investors and corporates all have different and changing understandings of what ESG should be, and where it should go. In this state of confusion and complexity, it’s tempting to postpone the work of evaluating how we want to attach our values to our capital deployment, believing others will figure it out. It’s that great quote from the end of The Sun Also Rises, “Isn’t it pretty to think so?” But we can start now, not by rushing to answers, but by question storming. From all the questions we could ask around values-based investing, which ones do we want to ask? Which ones will make a bigger difference?

Clashing Clans

Transitioning leadership and "letting go"

The act of “letting go” involves more than one family member. The question is how to do so an elegant and unified manner. In this session, we will ask:

  1. When is choosing not to lead in everyone’s interest?
  2. What does “letting go” mean to all family members?
  3. For whom is leadership transition more taxing: leaders or successors?

Introduction: David C. Bentall, Founder, Next Step Advisors

Facilitator(s): Tim Yeung, Peterson BC

Panelist(s): Elyce Simpson Fraser, Simpson Seeds, Kris Rennie, Rennie Group and Jeremy Frohlich, LRDG

Families: The Strongest or Weakest Link?

Governance: Can families find grace in disruption?

There is a body of research that paints family enterprises as solid employers and businesses whose owners take a long term view. Resilient and tight knit, they ride out disruptions, but are there better tools for confronting uncertainty? We will ask:

  1. What does “good governance” look like in the family business of tomorrow?
  2. What governance tools do family businesses need in an age of disruption?
  3. Where do family enterprises excel as models of good governance?

Introduction: Estelle Metayer, Principal and Founder, Competia

Facilitator(s): Matt Fullbrook, Fullbrook Board Effectiveness

Panelist(s): Jeff McCaig, Trimac Transportation Group and Ambreen Bhaloo, Foray Group

There is a body of research that paints family enterprises as solid employers and businesses whose owners take a long-term view. Resilient and tight-knit, they ride out disruptions. Certain companies resist external board members in favour of blood relatives. Others are lax in succession planning. Yet, family businesses are often cited as governance role models for their “kinder” ways of doing business. Now, disruption is back. Russia, Ukraine, the pandemic and inflation. Can family enterprises grow without adding new tools to their old governance kits?

(Un)Limited Resources

Are we paying enough attention to scarcity?

The gap between limited resources and (theoretically) limitless wants is widening. Natural resources are becoming the new powerful key to defining geopolitics and securing economic and strategic interests. Are family enterprise leaders paying enough attention to scarcity? We will ask:

  1. Who will pay the enormous costs of transitioning to renewable energy?
  2. Should we discourage investment in fossil fuels?
  3. What is the cost of inaction on family enterprises slow to adapt to energy policy changes?

Introduction: Ed Whittingham, Public Policy Professional, Whit & Ham 

Facilitator(s): Thierry Malleret, Founder and Managing Partner, Monthly Barometer

Panelist(s): Alex G. Adelaar, Coril Holdings

Are family enterprise leaders paying enough attention to scarcity? The gap between limited resources and (theoretically) limitless wants is widening. Natural resources are becoming the new powerful key to defining geopolitics and securing economic and strategic interests. As the hunger for raw materials and resources rises exponentially, the intricate balance between economic priorities and global political discourse has become more fragile. In a globalized economy, imbalances affect businesses and private consumers profoundly. Enterprising families must expect the unexpected.

 

How Will AI Impact Family Firms?

Artificial intelligence and beyond

In this session we will explore the phenomenon of artificial intelligence (AI) and discuss its applicability to family businesses. We will ask:

  1. What exactly is artificial intelligence?
  2. How do organizations leverage AI to change their way of doing business?
  3. What is the relationship between “values” and AI?

Introduction: David R. Beatty, Board Chair, The David and Sharon Johnston Centre for Corporate Governance Innovation

Facilitator(s): Vern Glaser, Associate Professor, Entrepreneurship and Family Enterprise, University of Alberta

Panelist(s): Jordan Allen, Atlantic Packaging

We live in a world where computers can mimic human intelligence to perform tasks. It is called artificial intelligence, or AI. If it has not already had an impact on you or your business, it will. Many executives believe AI will transform their companies by automating processes, creating insight through data analysis, and engaging with customers and employees. There will be bumps in the road. Workforce displacement and the ethics of smart machines are raising questions, yet cognitive technology could usher in a golden age of productivity and prosperity.

Geopolitics, Family Business and Long-Term Views

Is the west’s golden age of innovation over?

Some believe that the aggressive axis of Russia and China is the main threat to the Western-dominated international system. Is the West’s golden entrepreneurial and innovation age behind it? We will ask:

  1. Can family enterprises find long term stability amid increasing geopolitical instability?
  2. What would a reduced Chinese role in the Canadian economy look like?
  3. Canadian companies have enjoyed decades of relatively stable geopolitics. Has time run out?

Introduction: Mathew Burrows, former Appointed Counselor to the US National Intelligence Council

Facilitator(s): Thierry Malleret, Founder and Managing Partner, Monthly Barometer

Panelist(s): Thomas Flichy, Rennes University

A new narrative has taken hold among the ruling classes in the West: that the aggressive axis of Russia and China is the main threat to the Western-dominated international system. Some commentators believe the West’s golden entrepreneurial and innovation age is behind it. Either way, what are the implications for family enterprises? Since the 1980s, entrepreneurship, innovation and, more generally, business dynamics have been steadily declining – particularly so in the US. Canada’s relatively high taxes on capital gains discourage risk-taking and reduces access to financing for starting and growing entrepreneurial businesses, critics argue. Is complexity ossifying the Western economies?

Health, Wellness and Tech: A Convergence?

Where will convergence lead?

The growing wellness industry, whose focus is to shift disease management from reactive to preventive, is worth trillions. Where do families, businesses and doctors fit it into a future shaped by software engineers? We will ask:

  1. Tech is improving our health, but is it leading to sedentary lifestyles?
  2. Has tech been co-opted into tools of behavioral manipulation and addiction?
  3. What happens when AI systems are wrong?

Introduction: Susie Ellis, Chair & CEO, Global Wellness Institute

Facilitator(s): Kathi Irvine, Co-Founder, Watershed Inc.

Panelist(s): Rachel Kiddell-Monroe, SeeChange Initiative and Mary-Anne Malleret, Monthly Barometer

The growing wellness industry, whose focus is to shift disease management from reactive to preventive, is worth trillions. Telehealth, itself a growing pillar of Canada’s healthcare sector, is flourishing due to better infrastructure and a pandemic push. Now, in deepening convergence, AI, chatbots, virtual and augmented reality technologies are taking health, wellness and tech into new waters. Where do families, businesses and doctors fit it into a future shaped by software engineers?

The Transition Hike Journey

Where there is a will there is a way

Getting from the first generation to the fifth generation can be a daunting hike. Discover how the Mannix family overcame and mapped it out, every step of the way.

Introduction and Facilitator: Michelle Osry, Partner, Deloitte Canada

Panelist(s): Margaret-Jean Mannix, Chair, Viridian Family Office

An enduring family enterprise does not just happen. Transitioning from generation to generation is akin to climbing a mountain. As challenging as that is, it can be tremendously rewarding. Generations may differ in ways of doing things, yet there are governance mechanisms to bridge those gaps. Boomers consider work a principal value. Millennials value a work-life balance. Yet both are right. Reaching the succession summit means anticipating generational differences exploiting mutual values through a common vision. In a family enterprise, achieving generational longevity means planning, communicating and tackling the journey to the top, one step at a time.

"Walkshops"

Reach higher, gain perspective

Hike through magnificent panoramic viewpoints with a diverse group of experts and practitioners while exploring new perspectives on today’s issues. Nature alters our perception just as an invigorating walk in a fresh setting resets our frame of mind. The aim of these workshops is twofold:

  1. To arrive at a more granular understanding of the issues raised.
  2. To generate ideas and solutions to both seize opportunities and mitigate risks.

Learning From the Heights

Learning opportunities with an amazing view

Get new perspectives firsthand from experts and fellow participants on issues surrounding today's shifting values and attitudes, including:

  1. "Geopolitical Turmoil: A Panoramic Overview and What It Means for Family Businesses in North America" by Mathew Burrows, former Appointed Counselor to the US National Intelligence Council
  2. Filmmaker and one of North America's top alpinists, Barry Blanchard
  3. Author Geoff Powter in conversation with Canada’s premier multisport adventure athlete, Will Gadd, on the psychology of risk-taking
  4. “The White/Whytes of Banff: An Enterprising Family” by renowned author and mountaineer, Charles "Chic" Scott