Purpose of Wealth

How generous are you feeling? Philanthropy is a growing feature of family wealth portfolios, and frankly, in a world where there seems no shortage of problems to be solved, it’s a force that needs unleashing.     In this episode Narelle Hooper sits down with Peter Yates AM and Ralf Haase to explore why thinking like an investor is a useful tool in the quest for impact, and how philanthropy can be helpful as a learning exercise for every family member. Want to know more about the ground breaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au or email us at purposeofwealth@mutualtrust.com.au Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel Phelps Executive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

The dynamics around family wealth are changing, and there’s a bold new force emerging in the great intergenerational wealth transfer.  In episode six, Joline Godfrey dropped some clues of what’s coming. She said “we see women at the table and women who are deploying very large amounts of money, and we see them doing it in very thoughtful, sometimes very provocative ways, but it's like the head of the spear”.  In this episode host Narelle Hooper sits down with someone who has been leading this charge for decades. A powerhouse advocate, entrepreneur, and champion for change, Carol Schwartz AO shares her thoughts on leadership, impact, entrepreneurship, and why Jane Fonda still rocks.   Want to know more about the ground breaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au or email us at purposeofwealth@mutualtrust.com.au Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel Phelps Executive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

When you think about family wealth down the generations, how do you know when it’s time to call time on the structures that have underpinned the family business, who controls the money, and who makes the decisions?  And when it comes to the crunch… what matters most - freedom, or control?  In this episode, host Narelle Hooper speaks with Peter Michell, a director of Michell Wool, and a non-executive director of Mutual Trust, and Kirby Rosplock, founder of Family Office consultancy Tamarind Partners, and author of The Complete Family Office Handbook. Both Kirby and Peter have family enterprise connections that stretch back to the 19th century and a lifetime of lived experience through various family office model evolutions. Listen in as they share their insights, knowledge, and uncover the many possibilities that a Family Office can grow into.    Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au or email us at purposeofwealth@mutualtrust.com.au Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel Phelps Executive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

In this episode, we confront the complexities of new love and the family, and what can happen when a clash of ideals turns a love match into a battle for control.  Our guest, Coventry Edwards-Pitt says we need to flip our thinking.  Covie is Chief Creative Officer & Founder and Director of The Center for Family Well-being at Ballentine Partners in Boston and has spent 25 years in the wealth advising industry. She’s the author of the Healthy, Wealthy & Wise Collection of books and after a decade's worth of research and conversations on success, what Covie has to say is provocative.  Listen in to hear why considering human risk is as important as financial risk, the surprising benefits of a “mouth shut, mind open” attitude, and why sometimes you’ve just gotta pretend you like modern art for the greater good of the family.    Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au or email us at purposeofwealth@mutualtrust.com.au Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel Phelps Executive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

In this episode, host Narelle Hooper grabs a beer with Bob and Nicola Mac Smith at their pub in Cargo, New South Wales for a lively chat about farming, family, and forward-thinking. As fifth-generation farmers, now with the sixth generation, Sam, Jock, and Tom, stepping up - they know firsthand the ups and downs of life on the land. But instead of betting everything on farming’s unpredictable nature, they took a bold step into processing. More than 30 years ago, Bob and his brother Pete launched a small canola mill on their farm - a venture that has since grown into MSM Milling, a powerhouse in global agribusiness that’s on track to double its production. It’s a story of smart diversification, family wisdom, making sure your chair isn’t too wobbly, and how an investment meant to pay for Sam, Jock, and Tom’s boarding school fees turned out to be more rewarding than they ever imagined. Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au or email us at purposeofwealth@mutualtrust.com.au     Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

How often do you think about tax?  You might think about tax planning and tax effectiveness, but what about the role it plays in our day-to-day life? In this episode of Purpose of Wealth, we sit down with tax expert Kerri Reynolds, Partner at Mutual Trust in Adelaide, to help us navigate a smart approach to tax planning throughout life so that you don’t let the tax tail wag the dog.  Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au This podcast has been prepared in Australia by Mutual Trust Pty Ltd (ACN 004 285 330) (AFSL 234590). It is general information only and has been prepared without considering any particular person’s objectives, financial situation or needs. It does not constitute, and should not be relied upon as personal financial product, taxation or legal advice. Before making any investment decision you should read the relevant product disclosure statement or other disclosure document and obtain personal financial, taxation and legal advice. For more information about the financial services Mutual Trust provides, please contact us or visit our website, mutualtrust.com.au for a copy of our Financial Services Guide. Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

How do you invest for multiple generations so you set your family up for success? Turns out there’s a fair bit of science, a sprinkling of art, and it’s pretty good to have nerves of steel too. In this episode we find out how to grow financial capital sustainably to provide for the needs of current and future generations you may not even have met yet.  Jono Gourlay, Head of Wealth at Mutual Trust also explains what it takes to hold the line through the rollercoaster of market booms and busts. Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au ***This podcast has been prepared in Australia by Mutual Trust Pty Ltd (ACN 004 285 330) (AFSL 234590). It is general information only and has been prepared without considering any particular person’s objectives, financial situation or needs. It does not constitute, and should not be relied upon as personal financial product, taxation or legal advice. Before making any investment decision you should read the relevant product disclosure statement or other disclosure document and obtain personal financial, taxation and legal advice. For more information about the financial services Mutual Trust provides, please contact us or visit our website, mutualtrust.com.au for a copy of our Financial Services Guide.*** Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive Producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

Great wealth casts a long shadow for those who have it. You might not think so, but for those who have it, great wealth casts a looonnng shadow. Society heaps praise on the wealth creators, but the inheritors are often seen as people who “got lucky” by birth. This next generation frets it’s selfish and privileged to talk about their struggles.  In this episode, we meet someone who knows just what that’s like.  Someone who knows how to navigate these challenges, and who embraces the positive power of wealth.Along the way, we’ll discover why pursuing personal aspirations is an important step toward a family’s Purpose of Wealth. Join Narelle Hooper as she speaks with Kristin Keffeler, Chief Learning Officer at the Denver-based Johnson Financial Group, and Brad Simmons, Head of South Australia, Mutual Trust.  Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive Producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

Imagine this. You’ve spent your childhood growing up in a family business - the whole family lives and breathes it. Then one day the driving force behind the business - your Dad - suddenly gets ill. Seriously ill. What happens next?  In this episode of Purpose of Wealth, we take a trip to the pharmacy and chat with second-gen entrepreneur Simon Reynolds, co-founder of the national network the Pharmacy Alliance, about scaling up, selling out, and the wake-up call when a founder faces a serious illness. Oh, and there’s a surprising story about a turkey, too. Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive Producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

Have you ever thought about why you think about money the way you do? In this episode of Purpose of Wealth, we explore how early money messages shape us, how understanding them is a vital step to clarity about what matters most, and how family members can be empowered by early financial education, as host Narelle Hooper speaks with Joline Godfrey, Financial Education Innovator and Wealth Consultant, and Lizzy Goldfinch, Partner in the Family Office Team at Mutual Trust. Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive Producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

You’ve invested blood, sweat, tears and hard earned cash into your business. But as much as things might be going OK,  you never know what’s around the corner. “Nothing is certain except death and taxes”  Benjamin Franklin once said. In modern life, turns out there’s a multitude of other complicated twists you might also have to deal with - all the D words - Divorce, Defactos, Family Dynamics, Cognitive Decline, and the list goes on. This brings with it a bunch of legal, financial, and personal considerations, which all come under the heading Succession Planning. Basically, making sure you are sorted for things that might happen and the one thing we all know definitely will happen.  So let’s get on board the D Bus and talk through the issues with Australia’s very own Will Whisperer - Eliza Newson, Director - Trustee Services with Mutual Trust in Melbourne.  Want to know more about the ground breaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au  Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel Phelps Executive Producer is Lauren McWhirter See omnystudio.com/listener for privacy information.

Thanks to the research Why the Modern Family Office Matters, we know that wealthy families have a huge positive social and economic impact on our nation. But lasting impact depends on those families going the distance, prospering over the generations. And an important part of prospering is having open conversations about the challenges of wealth transfers, and sharing family history.  In this special episode of Purpose of Wealth, host Narelle Hooper sits down with Lady Marigold Southey, the daughter of one of Australia’s most significant retail empires. How has the Myer family built and maintained such a substantial business and philanthropic legacy into its fifth generation? What is the glue that keeps the family together? You’ll find out from Lady Marigold Merlyn Baillieu Southey AC herself.  Want to know more about the ground breaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au    Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel Phelps Executive Producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

A bit like the evolution of the interweb, wealth advice has gone through some fairly hefty iterations. From a time when it was largely about money and compliance, to approaches that demand a far deeper understanding of family dynamics, as well as a holistic approach to wealth.  Where we’re at now has been termed Wealth 3.0. It involves a pretty big mindset shift - not only for founders and family elders who have been guarding and growing their assets since formation, but also for the advisers who guide them.  In this third episode of Purpose of Wealth, host Narelle Hooper unpacks developments in the role of family wealth advice, the new skills this is demanding of wealth advisers, and a look ahead to what’s coming - as she sits down with Dr Dennis T Jaffe, co-author of Wealth 3.0: The Future of Family Wealth Advising, and Brad Simmons, partner in the Family Office with Mutual Trust.  Want to know more about the groundbreaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au - or email us at purposeofwealth@mutualtrust.com.au    Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel Phelps Executive Producer is Lauren McWhirter See omnystudio.com/listener for privacy information.

We know that families of wealth have a huge ripple effect on the economy - in terms of jobs, entrepreneurship and community impact. But did you know we’re also in the midst of what they call the Great Wealth Transfer? It’s estimated that three and a half trillion dollars of wealth will pass between generations in Australia over the next two decades, and it's already begun.  But there’s a huge point of tension emerging - will these families take the necessary steps to ensure their wealth thrives when they throw the keys to the kids and the grandkids? In this second episode of Purpose of Wealth, sit down with host Narelle Hooper as she chats with world leading advisor on family governance and wealth preservation, James (Jay) E. Hughes Jr., and Elizabeth (Lizzy) Goldfinch, Director in the Family Office Team at Mutual Trust, as they delve into how great transformations can take place when families reframe how they think about wealth, and what they really want to do with it.Want to know more about the ground breaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au or email us at purposeofwealth@mutualtrust.com.au  Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.

Mutual Trust and the University of Adelaide Business School have recently released ground breaking research Why a Modern Family Office Matters. It’s the first of its kind in Australia to reveal the contributions our wealthiest families make to the nation.  You probably know that lasting impact depends on families going the distance, protecting and growing their wealth over generations.  But that's not a guarantee, and more often than not family wealth transfers go wrong. This is where the value of a Family Office comes in.  In this first episode of Purpose of Wealth, you’ll learn some surprising facts about the impact of family wealth in Australia, and bust open some secrets on how successful families do it, as host Narelle Hooper speaks with Associate Professor, Dr. Christopher Graves, director of the Family Business Education and Research Group at the University of Adelaide Business School and Jeff Steiner, Mutual Trust’s head of Family Office. Want to know more about the ground breaking research Why the Modern Family Office Matters? Head to mutualtrust.com.au or email us at purposeofwealth@mutualtrust.com.au    Purpose of Wealth is hosted by Narelle HooperProducer and editor is Samuel PhelpsExecutive producer is Lauren McWhirterSee omnystudio.com/listener for privacy information.