Grant Hackett: leadership, high performance and using investment bonds
Dec 27, 2024
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Grant Hackett, CEO of Generation Development Group and former Olympic swimmer, shares his journey from the pool to the boardroom. He discusses the leadership principles he applies from sports to manage his team effectively. Grant dives into investment bonds, explaining their tax benefits and rules like the 10-year and 125% regulations. He also addresses potential superannuation changes and how those impacts investment decisions. His insights on personal growth and navigating challenges make for an engaging listen.
Grant Hackett's transition from Olympic champion to CEO highlights the importance of discipline and structured performance in business leadership.
Investment bonds offer flexible, tax-effective long-term savings options that align with estate planning and changing superannuation regulations.
Hackett advocates for a proactive leadership approach that emphasizes quick decision-making and adaptability in response to market challenges.
Deep dives
Understanding GARP and Its Benefits
GARP, or Growth at a Reasonable Price, is an investment strategy that balances growth and value, potentially enhancing an investment portfolio. The strategy focuses on identifying good companies that are priced reasonably, making it an attractive option for investors seeking a blend of growth and stability. Utilizing a GARP ETF allows investors to access a diversified array of such companies all in one investment vehicle. This approach caters to those looking to capitalize on both the growth potential of stocks and the inherent stability often associated with value investing.
Grant Hackett's Leadership Journey
Grant Hackett, a renowned Olympic champion, transitioned from athletics to corporate leadership, emphasizing accountability and a structured approach to performance. His previous experience as the captain of the Australian swim team cultivated his leadership qualities early on, shaping his commitment to team performance and individual support. Hackett's strategic planning and foresight guided his entry into the financial sector, where he sought advice from industry leaders before making the shift. This blend of ambition and preparation has been a cornerstone of his success as the CEO of Generation Life.
Rituals and Continuous Improvement in Leadership
Hackett emphasizes the importance of daily rituals and routines in maintaining focus and momentum within his organization. He draws parallels between the discipline required in competitive sports and its application in the business world, advocating for processes that drive continuous improvement and accountability. His leadership style incorporates a relentless focus on performance metrics and feedback loops, ensuring that both he and his team remain aligned with their goals. This commitment to improvement not only enhances individual performance but fosters a resilient corporate culture.
Navigating Risks and Opportunities in Business
In an ever-evolving business landscape, Hackett focuses on recognizing and addressing problems as opportunities for growth and development. He advocates for a mindset that embraces quick decision-making and adaptability in the face of challenges, urging teams to fail fast and learn swiftly. By maintaining a close relationship with stakeholders and monitoring market conditions, Hackett ensures his leadership team is well-prepared to seize emerging opportunities. This proactive approach not only mitigates risks but also reinforces a culture of innovation and responsiveness within the company.
Investment Bonds as a Strategic Financial Tool
Investment bonds serve as a unique financial instrument for tax-effective long-term savings and estate planning, especially amidst changing superannuation laws. These bonds offer a favorable tax rate and can serve as a protective asset, facilitating seamless wealth transfers while avoiding complex probate processes. The structures also provide flexibility for investors, allowing for customization according to individual financial goals and family dynamics. As the landscape of investment options continues to shift, understanding and utilizing investment bonds can empower investors to better secure their financial futures.
In this Australian Investors 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