Russ speaks with storyteller and filmmaker Rick Stevenson about why our personal stories are our most valuable legacy, and how families can use storytelling to connect across generations, strengthen decision making, and shape their philanthropy. Rick shares insights from 8,000+ interviews, the origins of the 5,000 Days Project, and practical ways advisers and families can start capturing stories with care, consent and purpose.

• Your story as your greatest asset: Identity, purpose and self-knowledge as the foundation for a lived legacy
• Safe, consent-led storytelling: Why participants should retain control and how privacy builds honesty and depth
• From emotion to insight: How telling a story moves feeling into language and reduces its hold on us
• A “family voice,” not just a founder’s voice: Interviewing every generation to reveal shared values and differences
• Philanthropy and purpose: How stories surface what people truly care about and guide meaningful giving
• Advisers as humans first: Do your own story work to build trust with the whole family, not only the patriarch
• Getting started at any age: Simple, repeatable practices for capturing stories from early childhood to later life

• Institute members can access the Legacy Playbook in the member portal and resource library
• To explore a Family Voice series or personal story mentoring, get in touch via the Institute website - https://www.uhnwinstitute.org/

Summary

In this episode of the SFO Inner Circle Conversations podcast, host Kristin Oliveri and guests Josh Miller, Linda Mack, and Rich Wolkowitz explore the concept of the expert generalist within the single-family office (SFO) space. They discuss the essential skills and qualities needed to thrive in this role, the challenges faced in high-stakes environments, and the importance of continuous learning and adaptability. The conversation also delves into the future of family offices and the evolving role of expert generalists in meeting the diverse needs of ultra-high-net-worth families.

Takeaways

The expert generalist has knowledge across multiple wealth management disciplines.

Curiosity and a thirst for knowledge are essential traits.

Expert generalists must balance depth in certain areas with breadth across others.

Unexpected challenges can arise in high-stakes environments.

Intellectual curiosity drives continuous learning and evolution.

Building a strong network is crucial for expert generalists.

Adaptability is key in dealing with diverse family dynamics.

The future of family offices will require more strategic and sophisticated roles.

Expert generalists must focus on customization to meet individual family needs.

Successful family offices should demonstrate a return on investment for their services.

Chapters

00:00 The Expert Generalist Defined

02:54 Essential Skills for Expert Generalists

05:45 Navigating a Day in the Life

08:49 Balancing Depth and Breadth of Knowledge

11:47 Challenges in High-Stakes Environments

14:51 The Importance of Intellectual Curiosity

17:49 Continuous Learning and Evolution

20:49 Advice for Aspiring Family Office Professionals

23:53 The Future of Family Offices

26:44 Transformational Changes Ahead

In this episode, Russ Haworth engages with Betsy Erickson and David Werdiger to explore the intricate power dynamics within ultra high net worth families. They introduce the concept of the Power Map, a tool designed for advisors to understand and navigate the various sources of power within family structures.

The conversation delves into the roles of advisors, the importance of cultural competency, and the evolving landscape of wealth management, particularly in the context of generational transitions and the shift towards a more collaborative approach in family governance. Through a case study, they illustrate the practical application of the Power Map and emphasize the need for advisors to reflect on their own power and influence in family decision-making processes.

Takeaways

• Advisors must recognize their own power in family dynamics.
• Power can manifest in various forms beyond formal roles.
• The Power Map helps identify and unlock sources of power.
• Cultural dynamics significantly influence family governance.
• Wealth 3.0 emphasizes collaboration over control.
• Families today face more complexity than ever before.
• Engaging the rising generation is crucial for family success.
• Advisors should foster an enabling environment for families.
• The illusion of governance can hinder effective decision-making.
• Understanding cultural differences is essential for advisors.

Chapters

00:00 Introduction to Power Dynamics in Ultra Wealthy Families

02:58 Understanding the Power Map Concept

05:41 Nuanced Sources of Power

11:48 The Role of Advisors in Power Dynamics

17:32 Practical Application of the Power Map

23:59 Empowering Families Through Understanding Power Dynamics

27:19 Navigating Complex Family Structures

30:12 Cultural Competency in Family Dynamics

34:28 The Shift to Wealth 3.0

41:07 Case Study: Power Dynamics in Family Philanthropy

46:06 Key Takeaways for Advisors

Navigating Risk Management with Kate Norris

Join us in this insightful episode of the Ultra High Net Worth Institute podcast as Russ Haworth sits down with Kate Norris, founder and CEO of Attenuate Risk. They delve into the top risk trends impacting wealth managers and their clients today. Kate shares her journey from financial services to launching her own firm, emphasizing the importance of understanding non-portfolio risks such as physical security, digital footprints, and family dynamics.

Key Takeaways:

The significance of non-portfolio risks and their impact on financial security. The importance of personalized risk management plans for families. How wealth managers can better understand and address the unique risks faced by ultra-high-net-worth families. The role of wealth advisors in protecting clients' financial legacies.

Chapters:

1. Introduction to Kate Norris and Attenuate Risk
2. Kate's Journey in Financial Services
3. Understanding Non-Portfolio Risks
4. The Role of Wealth Advisors in Risk Management
5. Top Risk Trends for Ultra-High-Net-Worth Families
6. Personalized Risk Management Plans
7. The Importance of Independent Advice
8. Conclusion and Key Takeaways

For more information about the Institute head to https://uhnwinstitute.org

Summary

In this episode of the Ultra High Net Worth Institute podcast, Russ Haworth speaks with Judy Galst from Henley and Partners about investment migration.

They explore the increasing interest from Americans in obtaining alternative residence and citizenship through investment, the differences between residency and citizenship, and the popular programs available. Judy shares insights on the motivations behind this trend, the importance of strong passports, and common misconceptions surrounding investment migration.

The conversation emphasizes the need for education and guidance in navigating these options.

Chapters

00:00 Introduction to Investment Migration

02:30 Understanding Investment Migration

04:02 The Surge of American Interest

10:27 The Importance of Strong Passports

12:13 Residency vs. Citizenship

16:52 Popular Programs for Americans

25:58 Investment Structures and Tax Considerations

35:05 Common Misconceptions and Advice

Summary

The conversation introduces the new Single Family Office (SFO) membership program by the Ultra High Net Worth Institute, highlighting its purpose, unique offerings, and the insights gathered from advisory board discussions. The speakers discuss the need for relevant content, the complexity of the SFO leader role, and the importance of networking and collaboration among family office executives. They outline the membership structure, benefits, and upcoming events designed to engage members and foster a community of learning and support.

Chapters

00:00 Introduction to the SFO Podcast

02:50 The Need for SFO Membership

05:43 Unique Offerings of the Institute

08:50 Insights from the Advisory Board

11:36 Evolution of the SFO Initiative

14:40 Target Audience for Membership

17:43 Membership Structure and Benefits

20:46 Engaging Events and Clinics

23:40 Future Plans and Launch Announcement

Summary

In this episode, Russ Haworth and Teresa Leigh discuss the complexities of elder care within ultra high net worth families. They explore the reluctance of families to bring in external caregivers, the risks associated with transitioning in-house staff to caregiving roles, and the importance of managing expectations during these transitions.

The conversation emphasizes the need for proper vetting of care providers, the potential pitfalls of improper vetting, and the role of technology in caregiving. Additionally, they highlight the critical involvement of family members in coordinating care and ensuring the well-being of their loved ones.

In this conversation, Teresa Leigh discusses the complexities of caregiving within ultra high net worth families, emphasizing the emotional and relational dynamics that come into play when making care decisions. She highlights the importance of reframing care as a positive experience rather than a negative one, focusing on quality of life rather than costs.

Effective communication strategies are essential for families to navigate these discussions, and understanding the risks associated with care management is crucial for ensuring safety and well-being.

Chapters

00:00 Introduction to Elder Care in High Net Worth Families

03:04 Understanding the Reluctance for External Care

05:48 The Risks of In-House Staff Transitioning to Caregivers

09:04 Managing Expectations with New Caregivers

12:13 Protocols for Hiring Caregivers

14:47 The Importance of Vetting Care Providers

18:02 Potential Pitfalls of Improper Vetting

20:49 Integrating Technology in Caregiving

24:07 The Role of Family in Care Coordination

29:21 Navigating Family Dynamics in Care Decisions

34:23 Reframing Care as a Positive Experience

39:08 Quality of Life Over Cost

44:03 Effective Communication Strategies for Families

52:31 Understanding Risks in Care Management

In this episode of the Ultra High Net Worth Institute Podcast, guest host Jamie McLaughlin sits down with Stephanie Gromek, Managing Partner at BBR Partners, to discuss the origins and purpose of the Collegium and the Practice Management Council within the Ultra High Net Worth Institute. They explore how these initiatives create valuable learning environments for business leaders, advisors, and wealth managers, while also fostering collaboration among industry professionals.

• The Collegium was born out of a panel discussion moderated by Jamie in 2018.
• Aimed at creating a safe, conflict-free space for industry leaders to share insights and best practices.
• Addresses the need for unbiased, independent information in the ultra-high-net-worth sector.
• The Collegium synthesizes discussions into a formal report to advance industry knowledge.
• Transitioned from virtual during the pandemic to in-person in October 2023 and 2024.
• Upcoming Collegium VIII will be held virtually on April 23rd & 24th, 2025.

• Led by Stephanie Gromek, the council helps industry players learn and share best practices.
• Focuses on how business leaders can build sustainable firms that meet the evolving needs of wealthy families.
• Organized around five key pillars:

• Human Capital: Attracting, retaining, and developing talent.
• Sales & Marketing: Growing businesses with effective strategies
• Business Management: Aligning profitability, capital structure, and strategy.
• Technology: Enhancing operations and client service through innovation.
• Integrated Wealth Management: Delivering across the 10 domains of wealth management

• Expert-led panels: Featuring professionals from member firms.
• Breakout discussions: Participants share challenges, best practices, and solutions.
• Focus on actionable takeaways: Turning insights into tangible strategies.

• Topic: Firm Sustainability – critical for long-term success.
• Keynote by Andrew Schwede del (Bain & Co.): The challenge of scaling intimacy in high-touch businesses.
• Four core discussion areas:

1. Growth & Profitability – ensuring firms remain competitive.
2. People & Talent – attracting and retaining top professionals.
3. Capital Structure – long-term sustainability of business models.
4. Strategic Focus – defining what firms will and will not do.

• Two sessions: April 23rd (3:30 PM EST) & April 24th (12:00 PM EST).
• Virtual format with structured breakout discussions.
• Reports & takeaways will be shared post-event.
• Opportunity to collaborate and learn from other leaders in the industry.
• Designed for C-level executives, business operators, and wealth management professionals.

• The Collegium fosters a spirit of collaboration and professional growth.
• Participants leave with new insights, strategic clarity, and stronger industry relationships.
• The Ultra High Net Worth Institute is committed to being both a think tank and a do tank, ensuring these discussions translate into meaningful advancements.
• Register now to join Collegium VIII and be part of the conversation shaping the future of the wealth management industry.

Thank you for listening!

For more information on the Ultra High Net Worth Institute and upcoming events, visit https://www.uhnwinstitute.org

In this episode, Russ Haworth engages with security experts Paul Violis and Eddie Marshall to discuss the critical aspects of security and risk management for ultra high net worth families. They explore common misconceptions about security, the importance of thorough due diligence, and the evolving threats that wealthy families face today.

The conversation emphasizes the need for proactive measures and tailored security solutions to protect families from various risks, including cyber threats and physical security breaches. In this conversation, experts discuss the multifaceted nature of cybersecurity threats, particularly focusing on the vulnerabilities of ultra-high-net-worth individuals and their families.

They emphasize the importance of intelligence-driven risk management, the role of technology in both facilitating and combating cybercrime, and the necessity of proactive measures to ensure safety. The discussion also highlights the balance between living life fully and maintaining security, advocating for smart, informed decisions rather than paranoia.

Ultimately, the conversation underscores the value of expert guidance in navigating these complex challenges.

00:00 Introduction to Security Concerns for Wealthy Families

02:08 Common Misconceptions About Security

05:45 Understanding Family Security Needs

09:55 Identifying Top Threats to Families

17:50 The Importance of Due Diligence

29:12 Comprehensive Risk Management Strategies

35:33 Exploiting Vulnerabilities: The Family Angle

36:34 Technical Surveillance Countermeasures: A New Norm

37:30 Creating Secure Spaces: The Rise of Skiffs

39:11 The Business of Cybercrime: Understanding the Threat

42:09 Intelligence as a Shield: Proactive Strategies

44:40 The Importance of Intelligence in Risk Management

47:22 Finding the Right Partners: A Litmus Test

49:28 AI and Cybersecurity: A Double-Edged Sword

54:49 Balancing Life and Security: Smart Living

01:01:30 Final Thoughts: Prioritizing Family and Security

Summary

In this episode, Russ Haworth speaks with Linda Bourn, the domain chair for risk management at the Ultra High Net Worth Institute. They explore the unique risks faced by ultra high net worth families, including generational wealth, social media presence, and the evolving landscape of AI. Linda emphasizes the importance of proactive risk management strategies and the role of advisors in recognizing and addressing these risks. The conversation also highlights educational initiatives and resources available for advisors to better support their clients in navigating these complexities.

Chapters

00:00 Introduction to Risk Management in Ultra High Net Worth Families

02:52 Understanding the Unique Risks of Ultra High Net Worth Families

06:25 Generational Perspectives on Social Media Risks

10:43 Supporting Advisors in Recognizing Risks

14:51 The Evolving Landscape of AI and Risk Management

16:44 Educational Initiatives and Resources for Advisors

20:59 Proactive Risk Management Strategies for Families