Hosting 'Speaking of Wealth'
My journey through the business world has given me a front-row seat to the ambition, risks, and triumphs of building value. From the initial spark of RedBalloon to the strategic discipline required in the boardroom, I’ve always been driven by the power of authentic conversation.
This is why I was thrilled to host the entire run of the "Speaking of Wealth" podcast series, produced by Commonwealth Private. This series wasn't just about financial metrics; it was a deep dive into the complex world of high-net-worth individuals, exploring the intricate relationship between strategy, legacy, family, and money.
Over 12 episodes, I sat down with leading experts from Commonwealth Private, KPMG, JP Morgan, and top legal firms like Hall & Wilcox and Cudmore Legal. The conversations spanned everything from market resilience and global asset allocation to the emotional complexities of wealth transfer and the personal imperative of philanthropy.
For any entrepreneur, investor, or leader interested in moving beyond short-term gains to build a truly enduring legacy, these episodes provide an invaluable roadmap.
Modern Legacy
Theme 1: Investing for Resilience—Strategies for a Global World
The modern wealthy portfolio requires diversification and an agile approach to market shifts. A significant portion of the series focused on deconstructing the sophisticated strategies employed by private wealth experts.
We looked at the fundamental principles of building resilient portfolios, exploring how expert asset allocation and active management—not just passive investing—are key to long-term success. The core idea? To achieve true resilience, you must understand the risks and opportunities across all asset classes, both listed and private.
- Portfolios Without Borders (Episode 4): This episode explored Commonwealth Private’s global equities strategy, diving into diversification and market trends with Chief Investment Officer, James Foot, and JP Morgan Asset Management's Kerry Craig.
- Beyond the Listed Market (Episode 6): For sophisticated investors, private markets offer crucial opportunities. We discussed the rise of private equity and credit with Paul Stevenson of Commonwealth Private, focusing on how these assets are selected and integrated into diversified portfolios.
- Constructing Portfolios for Resilience (Episode 8): With Ben Smoker and James Foot from Commonwealth Private, we focused on the principles guiding long-term investment strategy for high-net-worth individuals, moving beyond traditional thinking.
- Fixed Income Investments (Episode 9): A resilient portfolio needs balance. Chris Viol from Commonwealth Private demystified bonds, hybrids, and credit strategies, explaining fixed income’s role in providing stability and income across market cycles.
- Unlocking Opportunity Through Satellite Investing (Episode 11): We explored the role of "satellite" investments—opportunities beyond core holdings—to boost portfolio performance with James Foot and Ben Smoker.
Theme 2: The Human Side of Wealth—Legacy and Change
True wealth is measured not just by what you accumulate, but by how you manage and transfer it. The "Speaking of Wealth" series spent significant time exploring the human and legal complexities that affect wealth across generations.
The coming decade will see $3.5 trillion change hands in Australia. Successfully navigating this transition requires robust planning that goes far beyond simple legal documents—it requires managing family dynamics, tax strategy, and an honest look at life's unexpected challenges.
- Living Luxe (Episode 1): We examined the growth of premium property in Australia, with experts Simon Cohen and Ben Braysich, sharing insights on selecting and valuing high-end homes while emphasizing the vital role of financial education for future generations.
- Preserving Your Legacy (Episode 3): Joined by experts from Commonwealth Private, KPMG, and Hall & Wilcox, we navigated the art of successful wealth transfer, from tax strategy to avoiding legal disputes across generations.
- Managing Wealth in Times of Change (Episode 10): Life is unpredictable. With Alicia Godwin and Luke Cudmore, we explored how high-net-worth families can prepare for complex financial and legal decisions that arise from unexpected challenges like divorce, illness, or loss.
Theme 3: The Macro Lens—Future Trends Shaping the Australian Economy
Leaders must look beyond their immediate balance sheet to understand the macro forces shaping the future marketplace. Two episodes provided a critical macro lens, grounding investment and planning decisions in the wider economic and social landscape of Australia.
- Maintaining Wealth in a Changing World (Episode 2): With Luke Yeaman, Chief Economist at Commonwealth Bank, we dove into the forces shaping Australia’s economy and beyond—from interest rate shifts to global dynamics—to understand what it means for your bottom dollar.
- Australia Tomorrow (Episode 7): Futurist Bernard Salt joined me to explore Australia’s evolving landscape, unpacking how demographics (ageing, immigration) and shifting work and living trends are shaping markets and industries for investors.
Theme 4: Purpose, Impact, and Private Client Excellence
Finally, the series addressed the essential role of purpose in modern wealth management, highlighting how the pursuit of impact is becoming inseparable from the building of a legacy.
- Giving Back (Episode 5): Philanthropy is a powerful way to build a legacy that reflects your values. With experts Josephine Hanna (Commonwealth Private) and Fiona Higgins (Australian Philanthropic Services), we explored how structured giving—from foundations to volunteering—supports meaningful causes.
- Inside the World of Private Banking (Episode 12): As the season concluded, we looked at the private banking experience itself with Sarah Chadzynski and Ashika Chand, exploring how this bespoke service model supports clients through their entire financial journey.
Building Your Enduring Legacy
Hosting "Speaking of Wealth" reinforced my belief that true success is about more than accumulation—it's about strategic stewardship and a clear purpose. For high-net-worth individuals, managing wealth is managing complexity: not just market volatility, but family dynamics, intergenerational planning, and the responsibility of capital.
Whether you are a founder scaling a business, a seasoned investor, or someone thinking deeply about the legacy you wish to leave, the hard-won insights shared in this series are essential listening.
The greatest asset you own is your own strategic clarity.
Speaking of Wealth: The Full Episode Guide
I am proud to have hosted every episode of this vital series. You can find all episodes on Apple Podcasts and Spotify.
Frequently Asked Questions (FAQs) on The 12 Conversations That Defined Modern Legacy
What is a "modern legacy"?
A modern legacy moves beyond the traditional idea of purely financial inheritance. It is a more holistic and intentional transfer of values, life lessons, stories, and purpose to the next generation. It's about the wisdom and character you impart, not just the assets you leave behind.
Why are conversations so important for building a legacy?
Conversations are the primary way we build and transfer a modern legacy. It is through open and meaningful dialogue that we can share our experiences, articulate our values, and pass on the stories that have shaped our lives. These conversations are the threads that weave a family's history and principles together for the future.
How does a modern legacy differ from a traditional inheritance?
A traditional inheritance often focuses on the distribution of material wealth and physical assets. A modern legacy, however, is richer and more profound; it includes the inheritance of knowledge, resilience, ethics, and a sense of purpose. It answers the question, "What do we stand for?" not just "What do we own?"
What kind of topics should legacy conversations cover?
Legacy-defining conversations should explore a range of meaningful topics, including personal and family values, pivotal life lessons learned from both successes and failures, cherished memories, and hopes for the future. The goal is to create a shared understanding of what truly matters to your family.
How can I start having these important conversations with my family?
Starting can be as simple as choosing one meaningful topic and setting aside a relaxed, dedicated time to talk. Begin by sharing one of your own stories or asking an open-ended question like, "What's a lesson from our family's past that you think is important to carry forward?" The key is to be intentional and create a safe space for sharing.
