Grant Hackett: rituals, performance, managing 300 staff and using investment bonds
Dec 16, 2024
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Grant Hackett, CEO of Generation Development Group and celebrated Olympic swimmer, shares insights from his unique journey. He discusses translating competitive swimming strategies into effective leadership, including rituals that inspire his team and enhance performance. Hackett dives into his passion for finance, explaining investment bonds and their advantages for after-tax strategies. He also explores recent changes in superannuation, making complex topics accessible while emphasizing personal and professional growth.
Grant Hackett emphasizes the importance of genuine leadership in guiding teams, drawing parallels between his athletic experiences and business practices.
He explains that investment bonds are effective for wealth accumulation and possess unique tax benefits, especially for long-term financial planning.
Hackett highlights the need for personal accountability within organizations, fostering a culture of continuous improvement and performance excellence among team members.
Deep dives
Introduction to AQLT
The BetaShares Australian Quality ETF (ASX: AQLT) emphasizes quality in the Australian stock market by implementing a rigorous stock selection process. To be included in AQLT's portfolio, companies must score highly on three critical metrics: return on equity, low debt levels, and earnings stability. This careful selection aims to create a portfolio comprising high-quality Australian firms that can either serve as a foundational investment or enhance an investor's existing holdings. The ETF presents an appealing option for those seeking a reliable core investment focused on long-term quality.
Perla and Dollar Cost Averaging
Automated investment tools, such as Perla, encourage investors to practice dollar cost averaging by making regular contributions to their investment portfolios. On average, users of Perla invest about $1,750 monthly, allowing them to systematically build their wealth over time. This approach simplifies the investment process and removes emotional decision-making, thus fostering a consistent investment strategy. Perla’s innovative platform supports investors in navigating the complexities of the stock market while making informed decisions.
Grant Hackett's Leadership Journey
Grant Hackett, the CEO of Generation Life and an accomplished Olympic swimmer, shares insights from his diverse career blend of athletics and finance. His transition from sport to business was fueled by his ambition for financial markets, with years of share trading experience prior to his professional journey. Hackett emphasizes the importance of genuine leadership, where he focuses on improving both his performance and that of his team members. Drawing parallels between his athletic training and corporate leadership, he highlights accountability and a commitment to fostering talent within his organization.
The Importance of Accountability in Leadership
Hackett's leadership philosophy underscores the significance of accountability, which he has honed throughout his career in sports and business. He believes in encouraging team members to exceed their own expectations by genuinely caring about their performance. This principle is rooted in Hackett’s own experience as a captain of the national swimming team and has seamlessly transitioned into his role as CEO. By taking personal responsibility for both successes and setbacks, Hackett fosters a culture of ownership and continuous improvement within Generation Life.
Investment Bonds as a Strategic Tool
Investment bonds are presented as effective vehicles for wealth accumulation and estate planning, particularly in light of recent changes to superannuation laws. These bonds offer tax benefits, such as tax-free growth after a 10-year period and creditor protection, making them appealing to individuals looking to safeguard their assets. Hackett advocates for recognizing the potential of investment bonds for ambitious individuals, noting that they provide a strategic way to manage taxes as income levels rise. With the capability to cater to diverse objectives, including growth and security, investment bonds offer flexibility for investors planning long-term financial goals.
In this Australian Finance Podcast episode, your host Owen Rask speaks with Grant Hackett, OAM, who is the CEO of Generation Development Group (ASX: GDG) - a $1.1 billion company that has grown rapidly in recent years.
In this podcast with Grant Hackett, Owen and Grant discuss:
What Grant took from the pool to his CEO role
Why he moved into finance
How to inspire and lead a team
How Grant thinks about personal and professional growth
Investment bonds - how and why they work
The tax of investment bonds
Potential changes to Superannuation you need to know
1:00:30 - advice Grant Hackett would give to his young self
DISCLAIMER: This podcast contains general financial information only. That means the information does not take into account your objectives, financial situation, or needs. Because of that, you should consider if the information is appropriate to you and your needs, before acting on it. If you’re confused about what that means or what your needs are, you should always consult a licensed and trusted financial planner. Unfortunately, we cannot guarantee the accuracy of the information in this podcast, including any financial, taxation, and/or legal information. Remember, past performance is not a reliable indicator of future performance. The Rask Group is NOT a qualified tax accountant, financial (tax) adviser, or financial adviser. Access The Rask Group's Financial Services Guide (FSG): https://www.rask.com.au/fsg
