family business succession Archives

Cary Matthews, Adam Marshall, and Jonathan Bill on Guiding Family Businesses

September 17, 2025 by John Ray

Family Business Radio

Cary Matthews, Adam Marshall, and Jonathan Bill on Guiding Family Businesses

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Cary Matthews, Adam Marshall, and Jonathan Bill on Guiding Family Businesses (Family Business Radio, Episode 68)

On this episode of Family Business Radio, host Anthony Chen sits down with three leaders who specialize in helping family businesses grow, plan, and prepare for the future. Cary Matthews of Opal Partners Group draws on his Fortune 50 and small business background to help companies clarify their identity, strategy, and culture. Adam Marshall of Lorium Law explains how his firm combines technical excellence with a human approach to risk management, transactions, and succession planning. Jonathan Bill of SBS Accounting and Advisors shares how his firm frees entrepreneurs from back-office burdens, delivering accurate books, timely financials, and proactive guidance. Together, they show how strategy, law, and financial discipline intersect to build strong family business legacies.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network. The show is produced by John Ray and the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode

Cary Matthews emphasizes clarity on identity and culture as the foundation of strategy.
Adam Marshall shifted from “big law” to client-centered legal practice to focus on relationships and assisting clients in making informed choices.
Jonathan Bill sees accurate, timely financials as essential for growth, lending, and exit planning.
Strategic planning, legal foresight, and sound bookkeeping intersect in family business success.
Host Anthony Chen emphasizes that beyond dollars and cents, family businesses need clarity of purpose and must tie financial planning to personal meaning and legacy.

Topics Discussed in this Episode

00:00 Introduction to Family Business Radio
00:47 Cary Matthews’ Journey from COO to Business Strategist
02:14 The Importance of Organizational Structure
04:05 Common Challenges in Small Businesses
08:36 The Role of Strategy in Business Growth
12:01 Introducing Adam Marshall and His Legal Journey
14:52 Building Client Relationships in Law
18:50 The Importance of Risk Management and Pragmatism
25:21 The Importance of Foundational Documents
26:56 Preparing for Business Exits
28:20 Family Business Transitions
32:03 Introducing Jonathan Bill
32:10 The Origin Story of SBS Accounting
36:30 Unique Aspects of SBS Accounting
45:54 Legacy and Business Values
50:43 Anthony’s Financial Corner

Cary Matthews, Opal Partners Group

Cary Matthews is the Managing Partner of Opal Partners Group, LLC (OPG), where he helps small business owners and leadership teams get unstuck, achieve their goals, and build businesses they enjoy. As a strategy coach and fractional executive, he draws on more than two decades of experience leading operational improvement and growth in small businesses.

Before founding OPG, Cary served as COO and EVP of Operations for several Atlanta-area companies, overseeing project management, support services, accounting, HR, engineering, and logistics. His leadership produced measurable results, including reducing invoicing time by 80%, boosting gross profit by 10% while managing a 30% increase in sales, and cutting training development costs by 30%. Earlier in his career, Cary worked for Fortune 100 companies and a start-up, experiences that built the foundation for his passion and expertise in small business leadership.

Cary holds a Bachelor of Electrical Engineering and an MBA from Auburn University.

Website | LinkedIn

Adam Marshall, Lorium Law

Adam Marshall focuses his practice on matters dealing with corporations, with an emphasis on corporate restructuring, bankruptcy, and distressed M&A. Adam has represented debtors, creditors, corporations, lenders, funds, and buyers and sellers of assets in numerous industries, including retail, food service, real estate, healthcare, automotive, energy, and financial services.

Further, Adam counsels business owners/C-level executives on general corporate matters, including structuring, financing, operational needs, and liquidity events/strategies. Adam began his career as an attorney with several national and international law firms, including White & Case and Greenberg Traurig, working in the restructuring and distressed M&A practice areas.

He has practiced law since 1999 and lived in Florida for 21 years, until recently relocating to the Atlanta area with his wife Stefanie and two sons, Joshua (Duke ’23) and Alexander (University of Michigan LSA Honors ‘26).

Website | LinkedIn

Jonathan Bill, SBS Accounting

Jonathan Bill owns SBS Accounting & Advisors. Jonathan grew up in a small business and seeing his dad struggle to start a new business is what gave him his heart to help entrepreneurs. As a result, Jonathan started his company in 2006 with a passion to free and empower small businesses—”free” by taking their back-office responsibilities off their plate and “empower” by providing them with the key metrics and coaching in order to meet their goals. Since 2006, Jonathan and his companies have had the privilege of bringing this transformation to hundreds of organizations.

Outside of work, Jonathan enjoys spending time with his family and ministering in his church in the area of music.

Website | LinkedIn

Anthony Chen, Host of Family Business Radio

Family Business Radio is sponsored and brought to you by Anthony Chen with Lighthouse Financial Network. Securities and advisory services are offered through OSAIC, member FINRA/SIPC. RAA is separately owned, and other entities and/or marketing names, products, or services referenced here are independent of OSAIC. The main office address is 575 Broadhollow Rd., Melville, NY 11747. You can reach Anthony at 631-465-9090, ext. 5075, or by email at anthonychen@lfnllc.com.

Anthony Chen started his career in financial services with MetLife in Buffalo, NY, in 2008. Born and raised in Elmhurst, Queens, he considers himself a full-blooded New Yorker while now enjoying his Atlanta, GA, home. Specializing in family businesses and their owners, Anthony works to protect what is most important to them. From preserving to creating wealth, Anthony partners with CPAs and attorneys to help address all of the concerns and help clients achieve their goals. By using a combination of financial products ranging from life, disability, and long-term care insurance to many investment options through Royal Alliance, Anthony looks to be the eyes and ears for his client’s financial foundation. In his spare time, Anthony is an avid long-distance runner.

Follow this link to access the complete show archive of Family Business Radio.

Human-Centered Family Business Succession Planning, with Andrea Carpenter, The Transition Strategists, and Jamie Reynolds, Reynolds CFO Services

June 17, 2025 by John Ray

Human-Centered Family Business Succession Planning, with Andrea Carpenter, Transition Strategists, and Jamie Reynolds, Reynolds CFO Services, on Family Business Radio with host Anthony Chen

Family Business Radio

Human-Centered Family Business Succession Planning, with Andrea Carpenter, The Transition Strategists, and Jamie Reynolds, Reynolds CFO Services

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Human-Centered Family Business Succession Planning, with Andrea Carpenter, The Transition Strategists, and Jamie Reynolds, Reynolds CFO Services (Family Business Radio, Episode 65)

In this episode of Family Business Radio, host Anthony Chen welcomes Andrea Carpenter of The Transition Strategists and Jamie Reynolds of Reynolds CFO Services. Andrea shares her journey from UX design to becoming a transition specialist focused on the human side of family business and internal succession planning. Jamie discusses his pivot from a corporate career to launching a fractional CFO firm that supports small and mid-sized businesses. Together, they explore the challenges and strategies of family business transitions, emphasizing the importance of communication, values, and aligning personal passions with business roles. You will gain valuable advice on preparing for succession, maintaining brand equity, and ensuring that next-generation leaders are equipped and passionate about taking over the family enterprise.

Anthony concludes the show with comments on the value of communication and individual identity in family business succession.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network. The show is produced by John Ray and the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode:

Andrea Carpenter, The Transition Strategists

Start with Values Before Structures – True succession success starts with understanding personal goals, non-negotiables, and passions—not just business mechanics.
Use Dialogue to Prevent Disconnection – Transparent conversations between generations prevent misaligned expectations and foster trust.
Empower, Don’t Pressure, the Next Generation – Support younger family members in discovering their authentic path—whether inside or outside the family business.

Jamie Reynolds, Reynolds CFO Services

Fractional CFOs Bring Strategic Clarity – Jamie helps small businesses make financial decisions with confidence, beyond bookkeeping or tax prep.
Training Beats Replacing – Family members often have the heart, but need the tools. Jamie helps build their capability to lead.
Work-Life Balance Is a Leadership Priority – After a heart attack, Jamie redefined success: being present with family while helping others grow.

Anthony Chen, Lighthouse Financial and Host, Family Business Radio

Legacy Is More Than a Business – The real asset being transferred isn’t just ownership. It’s identity, values, and intent.
Succession Is a Conversation, Not a Conclusion – Families must start talking, even before they feel “ready,” to explore what a good transition looks like.
You Don’t Have to Become Them to Honor Them – Children don’t have to copy their parents’ careers to carry forward their values and legacy.

Topics Discussed in this Episode

00:00 Introduction to Family Business Radio
00:30 Andrea Carpenter’s Journey into Family Business
02:05 The Human Side of Family Business
12:38 Navigating Family Business Conflicts
26:15 Jamie Reynolds: Transitioning to Business 2.0
31:10 Believing in the Mission
31:38 Relaunching Reynolds CFO Services
32:55 Balancing Family and Business
33:04 Health Scare and Its Impact
33:43 The Flexibility of Business Ownership
37:04 Family Support and Early Return to Work
39:13 Client Success Stories
43:11 The Role of a Fractional CFO
46:57 Contact Information and Services
48:15 Words of Wisdom for Family Business Succession Planning
49:16 Legal Disclaimer and Closing Remarks

Andrea Carpenter, The Transition Strategists

Andrea Carpenter, Transition Strategists — **Andrea Carpenter, The Transition Strategists**

As President of The Transition Strategists, Andrea Carpenter specializes in guiding multi-generational families through complex business succession planning. Her unique perspective as both a successor in her family business and an advisor to transitioning families offers priceless information about the challenges faced by both generations.

Andrea excels at creating psychologically safe environments where families can navigate the delicate balance between preserving legacy and embracing innovation. As a certified XChange facilitator, she combines human-centered design principles with proven facilitation techniques to help clients transform business transitions into opportunities for deeper family connection.

The Transition Strategists is an international boutique consultancy headquartered in Denver, Colorado, with over 30 years of experience in business succession planning and transition strategies. The firm works with family and private business owners, their companies, and their families. They design dynamic, people-first succession plans, balance business objectives with family relationships, and create transition paths that sustain business success and launch leaders into new ventures.

Andrea LinkedIn | Company Website

Jamie Reynolds, Reynolds CFO Services, LLC

Jamie Reynolds is the founder and owner of Reynolds CFO Services, LLC. As the principal of the firm, Jamie specializes in providing financial services to small and medium-sized businesses (SMBs), with a focus on financial planning and analysis (FP&A), bookkeeping, and grant writing

Reynolds CFO Services positions itself as a partner for business owners who need professional financial guidance but may not require a full-time, in-house CFO. The firm’s mission is to provide reliable, actionable financial insights and support, enabling clients to focus on running and growing their businesses. Reynolds CFO Services is renowned for its pragmatic approach and unwavering dedication to assisting clients in reaching their financial objectives.

Jamie LinkedIn | Company Website

Anthony Chen, Host of Family Business Radio

Follow this link to access the complete show archive of Family Business Radio.

Navigating Family Business Succession and Sale: Insights from Rick Calabrese and Joe Bergin, Commonwealth M&A, and Lyle Newkirk, SeatonHill Partners

May 21, 2025 by John Ray

Navigating Family Business Succession and Sale: Insights from Rick Calabrese and Joe Bergen, Commonwealth M&A, and Lyle Newkirk, SeatonHill Partners, on Family Business Radio podcast with host Anthony Chen, Lighthouse Financial

Family Business Radio

Navigating Family Business Succession and Sale: Insights from Rick Calabrese and Joe Bergin, Commonwealth M&A, and Lyle Newkirk, SeatonHill Partners

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Navigating Family Business Succession and Sale: Insights from Rick Calabrese and Joe Bergin, Commonwealth M&A, and Lyle Newkirk, SeatonHill Partners (Family Business Radio, Episode 64)

In this episode of Family Business Radio, host Anthony Chen welcomes three experienced advisors to discuss the intricacies of planning for family business succession and sale. Rick Calabrese and Joe Bergin from Commonwealth M&A share their personal journeys and expertise in assisting small businesses with transitions, covering topics such as business valuation, the emotional aspects of selling, and the importance of having a professional advisor. Lyle Newkirk from Seton Hill Partners brings a different perspective, discussing his experience in corporate M&A and the importance of preparation and strategic advisory for small and mid-sized businesses. The discussion includes practical advice on preparing for an exit, the role of private equity, and addressing common misconceptions and pitfalls. The episode aims to provide family business owners with valuable insights to ensure a seamless transition and maximize their business’s value.

Anthony concludes the show by underlining the need for thoughtful retirement planning.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network. The show is produced by John Ray and the North Fulton affiliate of Business RadioX®.

Key Takeaways from This Episode:

Rick Calabrese, Commonwealth M&A

“There’s no perfect time to sell—only the right time, when your goals and your business are aligned.”
Rolling equity (a partial sale with continued involvement) allows owners to take chips off the table now and participate in a second payday later.
Emotional readiness is just as important as financial readiness in family business succession.

Joe Bergin, Commonwealth M&A

“Your business is worth what someone is willing to pay. That’s why process and positioning matter.”
Valuation isn’t just math. It’s about risk, recurring revenue, and how the buyer sees your future cash flow.
M&A advisors aren’t just negotiators. They’re emotional buffers and translators between the parties.

Lyle Newkirk, SeatonHill Partners

“Don’t wait to clean up your books. Due diligence is like a 90-day colonoscopy.”
Many deals fall apart not on price, but on poor preparation, such as missing contracts, inadequate reporting, or emotional resistance.
Fractional executives can professionalize operations, prepare for exit, and give owners a trusted outside perspective.

Anthony Chen, Lighthouse Financial

Retirement planning isn’t just about the numbers; it’s about the lifestyle. Financial success is meaningless without a clear vision of what fulfillment looks like post-exit.
Think beyond the golf course. True retirement satisfaction requires more than vague hobbies. Entrepreneurs must get specific about how they want to spend their time and structure their lives once the business chapter closes.
Plan for retirement well in advance of the proposed deal. Planning for retirement should begin long before a business is sold. Knowing what comes next adds clarity and confidence to the decision to exit.

Topics Discussed in this Episode

00:00 Introduction to Family Business Radio
00:48 Meet the Guests: Rick Calabrese and Joe Bergin
01:01 Background Stories: Rick and Joe’s Family Business Roots
05:31 Understanding Business Valuation
07:41 Timing the Sale of Your Family Business and Family Business Succession
10:17 Options for Partial Liquidity Events
13:45 Misconceptions About Private Equity
17:16 The Importance of M&A Advisors
19:02 Emotional Aspects of Selling a Family Business
23:25 Recognizing When to Step Aside
24:19 Resources for Business Owners
24:37 The Importance of Early Planning
25:46 Introducing Lyle Newkirk
28:01 Common Mistakes in Business Transactions
30:22 Preparing for a Successful Exit
35:05 The Role of Fractional Executives
38:29 Final Thoughts and Key Takeaways

Rick Calabrese, Esq., CPA, LL.M., Co-Founder, Commonwealth M&A

Rick Calabrese is a licensed attorney and certified public accountant in the Commonwealth of Pennsylvania and also has a Masters of Law in Taxation from Villanova University School of Law. Prior to attending law school, Rick obtained a Bachelor of Science in Business Administration (accounting) from the University of Pittsburgh. After law school, Rick worked at “Big 4” accounting firm PricewaterhouseCoopers LLP in Center City, Philadelphia, prior to engaging in the active practice of law primarily in the fields of tax, corporate business, M&A and commercial real estate at suburban Philadelphia-based law firms.

During his time practicing law (which he still does part-time), Rick handled multi-million-dollar transactions for small to medium-sized businesses. While many other clients may have to use multiple advisors on a given transaction, Rick used his unique and specialized tax, business, M&A, and CPA background to assist clients through the entire process of family business succession, from initial planning and structuring to drafting purchase agreements and closing.

Rick now lives with his wife, Lindsey; their son, Luca; and their dog, Maverick, in Chester County, PA. In his free time, you can find Rick out on the links or passionately cheering on the Big 4 Philadelphia sports teams, Villanova basketball, and Pitt Panthers football.

LinkedIn | Firm Website

Joe Bergin, Co-Founder, Commonwealth M&A

Joe Bergin graduated from Penn State University (University Park) with Bachelor’s Degrees in Finance and Economics. Joe is also a Certified Management Accountant and worked at Johnson & Johnson for over a decade spanning multiple roles & responsibilities culminating in a series of roles spent analyzing, structuring, and executing M&A and venture capital transactions.

During his time in Corporate Finance, Joe developed experience and skills ranging from strategic planning to complex financial modeling and business valuation. Joe passionately believes that Commonwealth M&A clients deserve to be represented with the same level of sophistication that Fortune 100 companies receive, regardless of deal size.

Born and raised in West Chester, PA, Joe is a passionate fan of all Philadelphia and Penn State sports. In his free time you can find him spending time with his wife and daughter or attending Penn State football games in the Fall.

LinkedIn | Firm Website

Lyle Newkirk, CFO Partner, SeatonHill Partners

Lyle Newkirk is a CFO partner with SeatonHill Partners. He has over 35 years of experience in CFO and executive finance roles. He has worked with public and private companies based both in the US and internationally, where he developed the strategies to achieve significant top-line revenue growth and helped to facilitate various successful acquisitions and strategic exits, including three exits to Fortune 500 companies. Lyle has extensive experience in technology companies in general and SaaS companies specifically. Lyle’s expertise also includes FP&A, growth planning and tactics, cash management, HR, sales operations, and regulatory compliance

SeatonHill provides organizations financial leadership with a strategic and operational focus by placing elite CFO talent to challenge the business and contribute to operational decisions to achieve results. With their curated talent, their financial leaders guide small and medium-sized businesses through complex financial problems to mitigate risk and achieve organizational goals.

SeatonHill is the fastest-growing CFO services firm in the nation, offering the power of combined thought leadership and the support of the country’s top financial talent to the benefit of all our clients. SeatonHill has offices in Boston, Dallas, Fort Worth, Los Angeles, Austin, Houston, New York, Atlanta, Chicago, Philadelphia, Phoenix, San Diego, and Washington, D.C.

LinkedIn | Firm Website

Anthony Chen, Host of Family Business Radio

The complete show archive of Family Business Radio can be found by following this link.

Navigating Family Business Dynamics with EOS, with Jacqueline Jensen

April 28, 2025 by John Ray

Family Business Radio

Navigating Family Business Dynamics with EOS, with Jacqueline Jensen

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Navigating Family Business Dynamics with EOS, with Jacqueline Jensen (Family Business Radio, Episode 63)

In this episode of Family Business Radio, host Anthony Chen interviews Jacqueline Jensen from EOS Worldwide. Jacqueline shares her unique experiences growing up in an entrepreneurial family led by a Marine and her eventual involvement in the family business. She discusses her journey through education, working in sports tourism, and finally returning to the family business out of a sense of obligation. Jacqueline speaks about the challenges she faced, including burnout and the lack of a clear roadmap, which ultimately led her to EOS. The discussion explores her transition to working with EOS Worldwide, helping other family businesses implement structured operating systems. Touching on themes like clarity in roles, succession planning, and work-life balance, this episode offers valuable insights for anyone involved in a family business or contemplating joining one.

Anthony concludes the show with thoughts on prioritizing family over financial gains.

Family Business Radio is underwritten and brought to you by Anthony Chen with Lighthouse Financial Network. The show is produced by John Ray and the North Fulton affiliate of Business RadioX®.

Jacqueline Jensen

Jacqueline Jensen grew up in an entrepreneurial family, where conversations around the dinner table often centered on business goals and growth ideas. After college, she joined the family business and was quickly placed in leadership roles—often learning by doing. At just 28, she became General Manager of a private country club, where she experienced firsthand the pressure, complexity, and emotional dynamics that come with leading in a family-run organization.

In 2019, after years of long hours and chasing results, Jacqueline discovered a business framework that brought clarity, alignment, and accountability to her team—and transformed the business. She now dedicates her work to helping other family business owners simplify operations, strengthen communication, and build healthy, scalable companies. As a Professional EOS Implementer®, she believes that with the right structure, family businesses can thrive for generations.

Website | LinkedIn

EOS Worldwide

EOS Worldwide helps entrepreneurial businesses—especially family-owned companies—get what they want from their business. Through a simple, practical, proven system, EOS provides the tools and structure to help leadership teams gain clarity, improve communication, and strengthen accountability. For family businesses navigating the complexity of shared roles, generational transitions, and personal relationships, EOS brings the clarity and alignment needed to grow a healthy, scalable company. With over 28,000 companies running on EOS, it’s a powerful system for families who want to preserve their legacy, empower their team, and lead with confidence.

Topics Discussed in this Episode

00:00 Introduction to Family Business Radio
00:41 Jacqueline Jensen’s Entrepreneurial Background
02:11 Challenges and Lessons in Family Business
05:36 Discovering EOS and Its Impact
11:05 Implementing EOS in Family Businesses
18:01 Navigating Family Dynamics and Succession Planning
23:46 Discussing Family Business Succession
24:50 Generational Shifts in Family Business
27:15 Vision Traction Organizer: A Key Tool
30:29 Personal Reflections on Family Business
34:33 Understanding EOS and Ideal Clients
39:10 Client Success Stories and Organizational Clarity
41:40 Future Plans and Advice for Young Entrepreneurs