Jay Hughes - Wisdom of the Tribe

14 snips

Oct 23, 2023

Jay Hughes, an expert in family wealth and development, discusses elder development, midlife crisis, and transcendent values. He mentions pioneers in the family wealth field, his new book with Mary K. Duke and Stacy Allred, and an online lecture course with David Specht. Hughes talks about Wealth 3.0 and how the industry restrains the field, offering insights on evolving ideas. The podcast explores the importance of holistic wealth beyond financial measures and the role of cultural considerations in family dynamics.

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Introduction

00:00 • 2min

Exploring the Role of Talerand and the Importance of Being a Supportive Number Two

02:08 • 14min

Reflections on Being in a Movie and Understanding Wealth vs. Financial Capital

16:01 • 3min

The Journey Towards Holistic Wealth

19:28 • 23min

Strategic Philanthropy and Personal Reflections

42:40 • 5min

Evolution of Wealth 3.0 and Cultural Considerations in Family Dynamics

47:30 • 10min

Navigating Midlife Crisis and Personal Growth

57:03 • 6min

“Families that are failing spend all their time on power.”

Today's guest is Jay Hughes.

Jay and I had a deep and fascinating discussion about the development of the elder in a family, the importance of the midlife crisis, and transcendent values.

We also discussed many great pioneers in the family wealth field like Joanie Bronfman, Charlie Collier, and Peter Karoff, and we also talked about Matt Wesleys key paper on family culture, which I will link to in the show notes. Jay also mentioned that he is writing a new book with Mary K. Duke and Stacy Allred, and has a lecture course online with David Specht of the Drucker School, part of which I will also link to about the five capitals of wealth.

We turned over the new ideas in Wealth 3.0 and Jay had some great insights about how the industry restrains the field and how ideas evolve.

This is the inaugural interview The Inheritance Podcast in a series in conjunction with the James E. Hughes Jr Foundation. I’d like to invite you all to join us on this journey of exploration as I talk to Jay and those he has influenced Next up is Gunther Weil talking about values.

Jay Hughes is an author, advisor to families, and founder of a law partnership in New York that represented private clients throughout the world, and now retired from the active practice of wealth. His wonderful book, Family Wealth, Keeping it in the Family, has become a classic in the family wealth space, and where he warns that the shirtsleeves proverb is a warning and not a curse.

Please enjoy my interview with Jay Hughes.

Link to Matt Wesley Paper on Culture: https://jehjf.org/the-blob-how-culture-eats-structure-for-breakfast/

Link to Drucker Interview: https://vimeo.com/746951432/5cae8e6538

Link to Jay's book: https://www.amazon.com/Family-Wealth-Keeping-Intellectual-Financial-Generations/dp/157660151X

Link to James E. Hughes Jr. Foundation: https://jehjf.org

NOTE: This podcast is for educational and entertainment purposes only. Anything said by the guests or host should not be construed as legal or investment advice. Thanks for listening.

Joe Reilly is a family office consultant, and the host of the Private Capital Podcast as well as the Inheritance Podcast.

FOLLOW JOE: https://twitter.com/joereillyjr

WEBSITE: https://www.circulus.co/

PRIVATE CAPITAL PODCAST: https://podcasts.apple.com/us/podcast/private-capital/id1644526501

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