122 episodes

Interviews with the Next Generation of Experts, Commentators, Entrepreneurs and Creatives in and around wealth and the wealth management industry. From Frazer Rice, noted fiduciary expert, operator of frazerrice.com and author of "Wealth Actually".

Wealth Actually Frazer Rice

    • Entrepreneurship

Interviews with the Next Generation of Experts, Commentators, Entrepreneurs and Creatives in and around wealth and the wealth management industry. From Frazer Rice, noted fiduciary expert, operator of frazerrice.com and author of "Wealth Actually".

    EP-120 CHILDHOOD WEALTH DISCUSSIONS with JEFF SAVLOV

    EP-120 CHILDHOOD WEALTH DISCUSSIONS with JEFF SAVLOV

    It is a common saying that wealth in families is built and lost in three generations.However, this “shirtsleeves to shirtsleeves” phenomenon is on the minds of most wealthy families.There is constant demand for advice from families of wealth on how to raise productive and kind children.However, there is also a sentiment that the education and preparation of wealthy kids solely stays within the realm of money discussions OR that the interactions should only happen when older.That may not be the case- JEFF SAVLOV is here to talk about the benefits of having these discussions - many times earlier than people think is possible. Jeff is the Founder of Blum & Savlov, LLP He consults with business families, legacy wealth families and the advisors who serve them. He brings more than 30 years of unique experience in sales and marketing, business ownership including business succession within his own family, and family dynamics/psychological training.We will get into what he sees as the benefits of deep early involvement with kids and the establishment of a productive culture to help kids become productive, thoughtful and community oriented.







    Outline







    • Jeff's Background • So, raising kids in the context of family wealth is an area of particular interest? 5:25• Is your work about talking to kids about money at really young ages? • How has communication about family wealth changed over time? • I’ve often heard you talk about proactive and reactive in this context. Can you say more about these ideas? • How young can you start? 10:50• What are some practical tips for parents in this context? 14:00• Can you describe an ideal proactive situation you were involved in? 23:00• Do these ideas apply to poor and working-class folks? • Is it ever too late?27:45







    How Do We Stay in Touch with Jeff?







    JEFF SAVLOV







    LINKEDIN









    https://www.youtube.com/watch?v=k5iZDrYil3U











    https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

    • 27 min
    EP-119 (BONUS) GOLF LEGEND, JAY SIGEL on MENTORSHIP, DETERMINATION and GIVING BACK

    EP-119 (BONUS) GOLF LEGEND, JAY SIGEL on MENTORSHIP, DETERMINATION and GIVING BACK

    Golf legend, JAY SIGEL joins us on this episode of "Wealth Actually."







    In United States Amateur Golf, there are three names: Bobby Jones, Tiger Woods and Jay Sigel. Jay is one of the most accomplished amateur golfers in American history.







    After growing in Pennsylvania, Jay played his college golf at Wake Forest. Afterwards, he embarked on a successful career in insurance and focused on the amateur side of the game-And focus on it he did . . .







    Jay won:







    The US Amateur twice (Including his win at the Country Club in Brookline in 1982)The US Mid AmateurThe British Amateurand he played in 9 Walker Cups (captaining two of them).







    Jay later turned professional at age 50 and played on the Senior tour where he won 10 times.









    https://www.youtube.com/watch?v=5weEssiMjgM









    While it’s an amazing story of golf accomplishment, many of the lessons from Jay’s life come from his insurance business, his lessons in mentorship from Arnold Palmer and Jack Nicklaus, his charity work and the importance of family.







    OUTLINE (Transcript is below . . . .)







    Jay’s early golf and rise to prominence,







    -Junior Golf-The role of Wake Forest-His arm injury, the decision to forgo professional golf and the economics of the Tour "back then"







    The start and story of Jay’s successful insurance business in Pennsylvania







    -The factors that went into his long-term success in business (and golf’s role in business)-The role of family-The decision to compete on the Senior Tour (and the role of Jack Nicklaus)-Winning as a pro







    Jay’s charitable endeavors and what is happening now?







    -THE JAY SIGEL INVITATIONALGolf questions







    -What made Jay a terrific player?-Was anything missing?







    -What is the difference between the top .01% and the top .0001%?-Mindset of Stroke vs Match Play







    -The match with Rick Fehr at Brookline and the aftermath-The great players and lessons learned in Jay’s career















    The State of the Game







    -What he thinks of the state of the game after a whirlwind of news in the world of golf:-Impact of length and power on the game -How did Brookline hold up with the modern game?







    How Do We Stay In Touch?







    WWW.JAYSIGEL.COM







    THE 2022 JAY SIGEL INVITATIONAL























    Jay's Golf Resume







    https://www.jaysigel.com/new-page







    https://www.amateurgolf.com/golf-tournament-news/27871/Catching-up-with-Jay-Sigel









    https://www.youtube.com/watch?v=yhLj8EMCok0









    TRANSCRIPT







    Intro:







    Welcome back to the Wealth, Actually podcast.

    • 41 min
    EP-118 (BONUS) COVID and THE FUTURE OF PLAGUE RESPONSE with PROF. POLLY PRICE

    EP-118 (BONUS) COVID and THE FUTURE OF PLAGUE RESPONSE with PROF. POLLY PRICE

    Two years after its onset, the world's response to the COVID-19 Pandemic will be generational event studied for years. It is a reminder that tail risk events happen more frequently than we think. Pandemics have been a feature (not a bug?) throughout the American experience. POLLY PRICE's new book sheds light on the US government's response to epidemics throughout history- with larger conclusions about COVID-19 and reforms needed for the next plague.







    Polly J. Price is the Asa Griggs Candler Professor of Law and is also Professor of Global Health in the Rollins School of Public Health at Emory University. A public health law scholar as well as a legal historian and citizenship and immigration law expert, she has published, lectured, and taught widely about immigration and citizenship, public health law and regulatory policy, federalism, property rights, and the judiciary. (She also had the "joy" of having me in her Legal Methods class when I was at Emory Law!)







    Her new book: PLAGUES IN THE NATION









    https://www.amazon.com/Plagues-Nation-Epidemics-Shaped-America-ebook/dp/B09CD2WDFC/









    A) Tell us about your background







    B) What prompted you to write the book?







    C) A quick rundown of America's Pandemic History







    1 America’s First Plagues2 Yellow Fever and the Shotgun Quarantine3 Black Death on the West Coast4 The 1918 Great Influenza5  Confronting Tuberculosis6 The Fight Against Polio7 The AIDS Epidemic8 Ebola in Dallas9 A Coronavirus Pandemic







    D) How do you evaluate America's efforts with COVID?







    E) How did the speed of information affect efforts?  The Global nature of the spread?







    F) Federalism-







    What did we learn about the interaction between the Federal Government and State Government Responses?







    F) What should we do differently?  What are the lessons learned?







    G) How do we stay in touch?







    PROF. POLLY PRICE's BIO







    POLLY's TWITTER







    PLAGUESINTHENATION.COM









    https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

    • 21 min
    EP-117 RETHINKING CLIENT LONGEVITY in WEALTH MANAGEMENT with CHRIS HEYE, PhD

    EP-117 RETHINKING CLIENT LONGEVITY in WEALTH MANAGEMENT with CHRIS HEYE, PhD

    Today, I have a challenging discussion with Dr. CHRIS HEYE, PhD, founder of WHEALTHCARE SOLUTIONS. We talk about the issues of older age on decision-making and how that affects an individual’s retirement. We go through data on aging and explore diminished mental capacity in detail.  Advisers will learn what to look out for in clients who may be suffering from cognitive decline or even Alzheimers disease, and what those advisers can do about it. Finally, we hear about the formation of Whealthcare Solutions and the data behind the firm.







    * Data on aging. (It's alarming)* The expense and wealth redistribution taking place- with no signs of slowing down.* The story of Whealthcare Solutions.* Misperceptions of “diminished capacity.”* The surprising peak age for financial decision-making.* How does it affect advisers, and what can advisers do about it?* Warning signs.







    The Wealth Management Industry is in a new and brave world as the tools and thinking around asset management and financial planning may be straining to catch up with the new demographics of country.









    https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

    • 20 min
    EP-116 WEALTH CYBERSECURITY with TOMMY RAGSDALE

    EP-116 WEALTH CYBERSECURITY with TOMMY RAGSDALE

    For advisers dealing with wealth management clients, cybersecurity is a necessary conversation. The wealthy are clamoring for digital protection. Advice on the defense against social media attacks, the selling of information on the Dark Web, online security breaches and asset theft are a part of the advice that most wealth management clients have come to expect from their advisors. How do you get your arms around this high stakes discussion?







    Today I spoke with TOM RAGSDALE to find out more.







    Tommy is an early team member at 360PRIVACY, a Nashville-based cybersecurity firm specializing in digital protection for high profile individuals, family offices and executives. He joined in February of 2021 after working in healthcare technology for four years. Prior to that, Tommy flew fighter jets in the United States Marine Corps. Tommy served as a Weapons and Tactics expert, a flight instructor, and led maintenance teams in combat.







    He is on the literal front lines of the digital security war that clients are fighting everyday- whether they know it or not!







    We talk about:







    THREAT ASSESSMENT







    * Define Threat Surface* Identify Vulnerabilities* Overlay Threat Landscape







    DIGITAL HARDENING







    * Privacy Protections* Device Hardening* Darkweb Solutions







    THREAT RESPONSE







    * Breach Assistance* Cyber Enhancement* Tailored Consulting







    TYPES OF CLIENT







    * Family Offices* Corporate Executives* Public Figures (and the balance between being "off the grid" and "out there")* HNW and UHNW clients







    Find 360 Privacy here:







    360Privacy.io







    TOM RAGSDALE LINKEDIN









    https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

    • 27 min
    EP-115 DISRUPTION IN WEALTH MANAGEMENT with MATTHIAS KUHLMEY

    EP-115 DISRUPTION IN WEALTH MANAGEMENT with MATTHIAS KUHLMEY

    The Wealth Management Industry is in the midst of massive demographic change. Business models are evolving, old entrants are retiring or merging, technology is leveling the playing field. As a result, clients are demanding more value and the industry is coping with a rapidly shifting landscape.







    As "Wealth Management" clamors for direction, new expertise to manage this change is emerging. With us today is MATTHIAS KUHLMEY, Chief Development Officer at Hightower Advisors and the developer of the "Disruption in Wealth Management" Module for Columbia University's Wealth Management program.







    Matthias Kuhlmey began his professional journey as a trained musician, landing somewhat fortuitously in the field of global finance where he has been active as an advisor, capital market expert, and corporate executive for the past 20+ years.







    Whereas the origins of his two worlds cannot be more different. Matthias has been passionately exploring parallels, especially in observing how technology has been disrupting both industries. Lowering the barrier of entry, preparing the path for a creative (r)evolution.







    Matthias is a thought-leading critic of socioeconomic affairs, C-Suite executive of one of the leading firms in the independent space for financial advice, and lecturer at Columbia School of Professional Studies in New York City.















    Background







    Overview







    1. “Disruptive Trends in WM”







    2. Big opportunity to define disruption in the context of WM (Music Industry as an example)







    3. Ttrust and lack of trust in the system; emerging stores of value







    4. The firm of the future; what to consider, trends to build on, etc.







    Independent Movement Around the Registered Investment Advisor Space







                -“Wire House” to Independence







                -Regulatory and definition Clarity







                -Transparency







                -Client -centric







    Digitization







                -Movement away from vertical integration







                -Firms now have access to best in breed technology through 3rd party sources







                -Vendor selection and maintenance







                -Tech as differentiator is now tech as equalizer







    Product to Service Shift in Industry







                -Move away from commoditized offerings







                -Relationship oriented advice







                -Shifting consumption models- the move to digital







                -the importance of Shared mission







    The Impact of Political Risk 







                -Mitigating Store of Value Risk
    ...

    • 27 min

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