This week on The Wealth Exchange, David Sung, President of Nicola Wealth Management, will be your host. He’s kicking off a new segment called ‘Lead Impact,’ where they’ll be meeting with successful leaders to learn how they use their influence to create impact and inspire change within their community and beyond.

 

For their first guest on this new segment, David is joined by Frank Giustra — businessman, philanthropist, and mining pioneer. Frank is the CEO of the Fiore Group of Companies; a private firm managing a broad portfolio of private equity investments in companies specializing in food and lifestyle, art and entertainment, and has a proven track record in financing and building natural resource companies. Frank’s entrepreneurial successes include founding Lionsgate Entertainment (now one of the world’s largest independent film companies).

 

During this episode, David and Frank discuss the markets and the recent attraction to gold, his advice for living a balanced life (including how he teaches his kids about wealth), and his strategy for philanthropy. Tune in to hear Frank’s invaluable insight on how he uses his influence to create impact and inspire change!

 

Key Takeaways:

[:29] David Sung speaks about The Wealth Exchange’s new segment: Lead Impact, and introduces the special guest this week, Frank Giustra.

[1:32] David welcomes Frank on to the podcast.

[2:42] Frank gives some background on how he got started in the precious metals space and became interested in gold in particular.

[9:09] A bank in Denmark was the first to issue a negative interest rate mortgage. This may seem like a great thing for a homeowner, but as Frank explains, it might not be all good.

[11:52] Frank’s thoughts on the public equity market.

[13:27] In addition to gold as a hard asset, where else does Frank recommend someone put their capital? Would real estate be a consideration? And what percentage of someone’s portfolio should be in gold?

[14:35] Frank has been quoted to say that gold will reach new highs in this phase and cycle but also faces an ugly future. He elaborates on what he meant by that. Are we looking at a large percentage drop in the market?

[20:11] Should we be stocking up on physical gold?

[22:20] How does Frank recommend we prepare the next generation for the future economy and the transition of wealth, both as an investor and as a parent?

[26:40] Frank reveals the five secrets to living a balanced life.

[35:35] With so many people in the world who need help and support, when is it okay to stop or take a break for your own wellbeing? And where is he currently at with other crises is he involved in (such as the crises in Syria and Venezuela)?

[42:56] When does family and philanthropy cross over for Frank? And when did he begin to engage his children in doing philanthropy themselves?

[46:06] Frank explains his approach to philanthropy as well as his succession plan for philanthropy.

[47:57] Frank gives his parting words of wisdom on entrepreneurship and philanthropy.

 

Mentioned in this Episode:

Frank Giustra’s LinkedIn

FrankGiustra.com

Gold Corp.

Fiore Group

Frank’s first article: “A Tarnished Dollar Will Put The Shine On Gold”

“What If Money Was No Object? - Alan Watts” (Youtube Video)

The Syria Crisis

The Venezuela Crisis

Andrew Carnegie’s Philosophy on Philanthropy

 

Guest Bio

Frank Giustra

Frank Giustra is CEO of Fiore Group of Companies, a private firm managing a broad portfolio of private equity investments and companies, specializing in food and lifestyle, art and entertainment, while having a proven track-record in financing and creating public natural resource companies.

 

For his full bio, visit: LinkedIn.com/in/Frank-Giustra

 

About Your Host — David Sung

David is the President of Nicola Wealth Management. As the President, he leads a team of financial advisors who are committed to achieving unsurpassed client satisfaction through the delivery of the highest quality investment management and financial planning services for business owners, corporate executives, foundations and other individuals or entities of substantial income and/or assets.

 

For his full bio, visit: NicolaWealth.com/Our-Team/David-Sung

 

For More Information on this Week’s Episode, Visit:

www.NicolaWealth.com/Category/Podcasts

 

Disclaimer:

This presentation contains the current opinions of the presenter and such opinions are subject to change without notice. This material is distributed for informational purposes only and is not intended to provide legal, accounting, tax or specific investment advice. Please speak to your NWM Advisor regarding your unique situation. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. NWM fund returns are quoted net of fund-level expenses. Past performance is not indicative of future results. All investments contain risk and may gain or lose value. Projected returns are estimates only. Returns are not guaranteed. NWM is registered as a Portfolio Manager, Exempt Market Dealer and Investment Fund Manager with the required provincial securities’ commissions in Canada.