Explore every episode of the podcast Wealth of Wisdom

In this episode of the Wealth of Wisdom podcast series, Keith Whitaker speaks with Scott Hayman and Tom McCullough, co-founders of Northwood Family Office. Scott and Tom share the inspiring story of how Northwood was founded and how the company has evolved over the last two decades.  At the heart of this episode is an in-depth discussion of Northwood's Family Self-Assessment Tool, featured in Wealth of Wisdom. Tom and Scott explain how this 52-question framework helps families identify strengths and gaps in areas such as investments, estate and tax planning, family education, and succession planning. They also share valuable insights on how couples and families can use the tool to foster dialogue, gain clarity, and improve the probability of meeting their long-term goals.

In this episode, Michelle Osry discusses how she used Otto Scharmer's Generative Dialogue framework to help a stuck family improve their communication. The framework includes four conversational fields, from Politeness to Flow, each representing a different level of conversation depth. By applying this framework, families can navigate difficult conversations and achieve a state of flow where new possibilities emerge, fostering lasting success across generations.

In this insightful chapter of the Wealth of Wisdom podcast, Jill Shipley delves into the impact of our money history on our current financial behaviors and attitudes. She emphasizes the importance of reflecting on the messages and experiences we encountered growing up, which often unconsciously shape our relationship with wealth. By engaging in personal reflection and guided conversations, we can uncover and transform our money narratives, fostering a healthier and more intentional approach to wealth.

In this episode, Tom McCullough, and Ian McDermott explore the incredible power of questions and how they shape our thinking and conversations. Ian illustrates the profound impact of framing questions differently so they will trigger positive internal searches in the brain. This can offer valuable insights for families and advisors alike in fostering effective communication and problem-solving.

In this podcast episode, Leslie Pine explores the world of family philanthropy and introduces the TPI Philanthropic Curve, a tool to assess philanthropic journeys. She outlines the six levels of the curve, emphasizing the importance of strategic giving, impact measurement and collaboration, and inspiring families to reflect on their philanthropic aspirations and potential for positive change.

In this episode, Natasha Pearl highlights the importance of personal and administrative infrastructure for wealthy individuals and their advisors. Using the example of "Mr. Bluebird," she illustrates how a lack of infrastructure can lead to financial and personal challenges. Natasha provides a seven-step plan to help identify and address infrastructure deficiencies, emphasizing the value of resilient infrastructure in wealth preservation and quality of life.

In this episode, Kathy Lintz and Ned Rollhaus demonstrate the importance of selecting the right advisor to ensure a family's long-term prosperity. They highlight key considerations including firm culture, the quality of people, alignment of interests, scope of services, fee structure, and matching the family's profile with the advisor's expertise — all in a helpful checklist.

Does the best thief make the best guardian? Where are the potentials for fraud in your family office structure? How can you make decisions "stick" amid the swirl of family passions? These aren't pleasant questions to think about, but family offices ignore them at their peril. In this engaging episode, family office COO Eugene Lipitz discusses the importance of creating internal controls policies, and procedures for family offices to protect clients, enforce decision-making, and streamline operations.

In this episode, join Stacy Allred as she shares insights on making better decisions by leveraging the power of storytelling. Discover the concept of prospective hindsight and how it can combat common decision biases. Learn about the premortem and promortem tools, developed by cognitive psychologist Gary A. Klein, to identify risks, optimize opportunities, and strengthen decision-making. Gain practical steps to conduct a premortem and promortem, and explore real-life scenarios where these tools can be applied in wealth-related decisions. Don't miss this episode packed with valuable strategies for making informed choices and improving outcomes.

In this episode, Mark Pletts encourages families to understand the costs associated with financial services and products, especially due to the pervasive lack of transparency in the industry. He advises them to ask their advisors detailed questions about fees and compensation structures to become better stewards of their wealth and avoid conflicts of interest. This includes attorneys, CPAs, wealth advisors, insurance agents, and other advisors. 

Join us for a thought-provoking episode as we explore the concept of ethical wills with Scotty McLennan. Discover how an ethical will goes beyond material possessions, focusing on passing on a vision of the qualitative dimensions of life that matter most. Learn how to craft a values-based letter to your loved ones, expressing your beliefs, lessons, hopes, and requests, and leaving a lasting legacy of love and purpose. Gain insights into the process of creating an ethical will and the positive outcomes it can bring to family relationships and estate planning.

In this week's episode, Keith Whitaker and Christian Stewart explore practical tools for building healthy families, emphasizing the importance of becoming a learning organization. It explores both individual and family perspectives on improving communication, trust, and collaboration, offering a curriculum to enhance skills and foster resilience within family dynamics.

Join us for a fascinating exploration of family roles and responsibilities in a family enterprise with Dr. Lee Hausner. Using the "Hats Off to You!" exercise, we dive into the invisible hats that family members wear and the power dynamics that come with them. Through a lively discussion around various roles, such as owners, managers, and family members, we uncover the rights and responsibilities associated with each hat. Discover how this exercise can enhance family communication, promote understanding, and guide decision-making in a family enterprise.

In this week's episode, Keith Whitaker talks with Etienne Eichenberger and Malgorzata Smulowitz about the "Family Philanthropy Navigator" as a guide for philanthropic families, emphasizing the importance of choosing the right focus and involving the rising generation in philanthropy. It encourages aligning motivations and interests to achieve meaningful and impactful giving.

In this week's episode, Tom McCullough talks with Kofi Hope and Zahra Ebrahim about the Identity Wheel, a tool that helps individuals explore different dimensions of their identity and understand the power dynamics connected to them. Through personal reflection and group discussions, we examine how our self-perception aligns with how the world perceives us and explore the impact of identity on our lives, relationships, and decision-making. 

In this episode, Keith Whitaker and Courtney Pullen discuss the "Stages of Wealth Integration" that help individuals and families explore their relationship with wealth. It encourages self-awareness, conscious choices about behavior with wealth, and alignment with values, ultimately fostering empowered relationships with money.

In this episode, Tom McCullough and Jim Garland delve into the story of the Jeffrey family and their investment education seminars. The Jeffrey Company, a family-owned business, created a private mutual fund and conducted seminars to educate family members on their unique investment objectives. These seminars aimed to foster family cohesion and provided valuable insights into investment fundamentals, behavioral finance, taxes, and estate planning. Join us as we explore the importance of investment education for family members and its impact on family wealth preservation.

In this episode, Tom McCullough talks with Blair Trippe and Doug Baumoel and delves into the "Family Factor" concept and how it can deconstruct conflicts within families. They explore the three components of the Family Factor: shared history, shared vision of being a family in the future, and trust. Listeners will gain insights into evaluating their own family factor and learn practical steps to build and strengthen it over time, fostering resilience and connectedness within their families.

In this episode, co-editor Tom McCullough interviews investment expert Jean Brunel to discuss the challenges individuals and families face when constructing an investment portfolio that aligns with their specific goals. They highlight the importance of considering multiple goals with different time horizons and stakeholders in mind and emphasize the need to factor in costs, such as taxes, when adjusting asset allocation. Through practical examples and statistical analysis, they guide listeners through the process of setting goals, identifying sub-portfolios for each goal, and combining them to develop an overall investment portfolio. Listeners will gain valuable insights into how to align their investment strategy with their family's financial aspirations and make informed decisions about portfolio construction.

Welcome back to the Wealth of Wisdom podcast with your hosts Tom McCullough and Keith Whitaker. This podcast is an audio companion to the book, 'Wealth of Wisdom: Top Practices for Wealthy Families and Their Advisors', where we focus on practical applications and how a family can use these tools exercises, and practices to learn, to develop, and to make progress. In this episode, Scott Peppet, President of Chai Trust Company, introduces the "Four Horsemen" graph, a powerful tool for families to monitor their stewardship of financial capital. By condensing information on investment gains or losses, fees, taxes, spending, and inflation into a simple visual, the graph helps families assess whether they are preserving their purchasing power and effectively managing their wealth for future generations.

In this episode, co-editor Tom McCullough interviews Guillermo Salazar, a family business advisor, exploring the power of genograms as a tool for understanding family patterns. Genograms go beyond traditional family trees, using symbols to depict the dynamics and interactions among family members. Join us as we delve into the fascinating world of genograms, uncovering hidden stories, identifying patterns, and discovering how they can help families navigate their legacies and create a brighter future.

In this episode of the Wealth of Wisdom podcast series, co-editor Keith Whitaker interviews Joline Godfrey.  They discuss her chapter and the concept of "making kids happy" vs. "raising happy kids". She introduces the Birthday Eve tradition, which promotes maturity, self-sufficiency, and the balance between privilege and responsibility in children.

In this podcast episode, Tom McCullough interviews Arden O'Connor, founder, and CEO of the O'Connor Professional Group. They discuss her chapter on the impact of mental health issues on families, addressing warning signs, family dynamics, protective behaviors, and crisis management. Arden emphasizes the potential for growth and recovery in this journey.

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews Greg Burrows and Ruth Steverlynck. Tom, Greg, and Ruth discuss their chapter "Creating Impactful Learning Programs for Families" and how having empowered, engaged individuals in the system is the antidote to entitlement and dependence. Their chapter provides the tools for impactful learning.

In this episode of the Wealth of Wisdom podcast series, co-author Keith Whitaker interviews management and organizational consultant, Barton Parrott. Keith and Bart discuss Bart's chapter - Finding What's Next for Your Family - which helps families find "what's next" after a significant change (sale of business, death of a matriarch or patriarch, a shift in the business landscape, etc).

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews Family Advisor and Author, Matthew Wesley. Tom and Matthew discuss his chapter - Gamechanging. They discuss family keystone habits, the importance of identifying them, and how gamechanging causes cascading effects through an entire system.

In this episode of the Wealth of Wisdom podcast series, co-editor Keith Whitaker interviews Linda Bourn. Keith and Linda discuss her chapter - Undertaking a Family Risk Assessment - this chapter provides an assessment tool that can help identify family's risk landscape and help provide insight into unique risks that require a more detailed plan.  

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews Katherine Grady and Wendy Ulaszek on "Leading Successful Family Meetings" - and how this chapter provides the tools to learn how to become an "ambidextrous leader" by tending to both family and enterprise needs with agility. We also talk through their excellent checklist of 10 questions to ask in planning and leading your family meetings.

In this episode of the Wealth of Wisdom podcast series, co-author Keith Whitaker interviews Kim Kamin on her chapter 'Choosing Trustees with Care and Wisdom' and the main purposes for using trusts. Kim's chapter provides a comprehensive guide to understanding a trustee's role and the proper tools to decide on one and common cautions that could arise in the process.

In this episode of the Wealth of Wisdom podcast series, co-author Keith Whitaker interviews author, lawyer and educator Patricia Annino. Keith and Patricia discuss her chapter - Managing the Risk of Diminished Capacity - and how her chapter provides a checklist for families to use for advanced planning for diminishing capacity. Patricia gives her advice on family 'proxies', family dynamics, and tips every family should hear in case of a family emergency.

In this episode of the Wealth of Wisdom podcast series, co-editor Keith Whitaker interviews Don Opatrny and Keith Michaelson. Keith interviews them on their chapter - Using the Ikigai Model to Foster a Legacy of Meaningful Engagement - Their chapter discusses how to explore meaning and purpose using the Ikigai Diagram and how applying family resources to an Ikigai exploration can lead to the development of character, competence and contribution.

In this episode of the Wealth of Wisdom podcast series, co-editor Keith Whitaker interviews Stacy Allred, Joan DiFuria, and Stephen Goldbart. Keith interviews them on their chapter - Advancing Flourishing: A 10x10 Learning Roadmap - their chapter provides a comprehensive framework for family members of all ages to effectively manage wealth and life choices by using the 10 core competencies across 10 life stages.

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews the Chair & Co-founder of Silver Sherpa Inc., Susan Hyatt. Tom and Susan discuss Susan's chapter - Building a Smart Aging Plan. They discuss 'Smart Aging' and how to incorporate health and personal care into your financial retirement plan to live your best 'third act'. Susan gives her advice on the best time to discuss this plan with your loved ones and other great examples.

In this episode of the Wealth of Wisdom podcast series, co-author Keith Whitaker interviews founder and managing partner of Wealthbridge Partners, Ellen Miley Perry. Keith and Ellen discuss her chapter on the four profound questions families should ask for a pathway to deep connection, emotional intimacy, and a greater familial well-being.

In this episode of the Wealth of Wisdom podcast series, co-author Keith Whitaker interviews James Grubman. Keith and James discuss James' chapter - Understanding the True Goals of Wealth Preparation - and how this chapter provides an exercise for families of new wealth that puts things into perspective, revealing what they do not yet understand about preparing for wealth and how to properly strategize.

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews family, business and legal consultant Josh Kanter. Tom and Josh discuss Josh's chapter - Creating a Family Owner's Manual - and how this practice can help track key family information, identify blind spots, and educate family members and advisors.

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews the founder and owner of illumination360, Kristin Keffeler. Tom and Kristin discuss Kristin's chapter - Tapping Character Strengths to Move Families Forward - and how this chapter provides the tools to measure, apply and recognize character strengths amongst family members. Kristin discusses "strength spotting" and provides an example of a client and his family that applied this exercise resulting in a heartfelt moment of true connection.

In this episode of the Wealth of Wisdom podcast series, co-author Keith Whitaker interviews Josh Baron and Rob Lachenauer on their chapter 'Deciding If You Should Join the Family Business'. Josh and Rob discuss their assessment tool in their chapter that will help articulate what's driving one's decision.

In this episode of the Wealth of Wisdom podcast series, co-author Keith Whitaker interviews Andrew Doust founder of Plenitude Partners and co-founder of Kore Venture. Keith and Andrew discuss Andrew's path to advisory work, how he helps families flourish, and his chapter that discusses the practice of a 'College Send-Off Ritual' for all generations in the family.

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews John A. Warnick. Tom and John A. discuss his chapter, the practice of giving your trust a heart and soul that is a reflection of you, and the benefits it will bring to your family.

In this episode of the Wealth of Wisdom podcast series, co-editor Tom McCullough interviews Dr. Jamie Traeger-Muney. Tom and Jamie discuss her practice of "creating your future now". Instead of just thinking about what you want, if you ask your brain to visualize it as if it has already happened, you have a far greater ability to envision your future.