Episode 17

The Million Dollar Document

Purpose of Wealth Podcast

About the episode

What’s the most powerful document a family can have?

Most of us would think it’s your will – but there’s another important document that can shape your family’s legacy for generations, its a Family Constitution.

In this episode, host Narelle Hooper sits down with Nicola Michell, a sixth-generation family member and director of Michell Wool – Australia’s oldest wool exporter. A physiotherapist by trade and passionate advocate for family governance, Nicola explains why she once turned down a million-dollar offer for that document.

Joining the conversation is Jeff Steiner, Head of Family Office at Mutual Trust and a leading expert in crafting Australian Family Constitutions for nearly 20 years. Jeff also features in Episode 1 of Purpose of Wealth.

Featuring

Narelle Hooper - Host

During more than 25 years as a business and finance journalist and editor Narelle has worked for Australia’s leading media groups including the ABC, Fairfax Media and SBS TV. She’s a former Editor of the Australian Financial Review’s BOSS Magazine and was founding co-chair of the Financial Review’s Women of Influence Awards.

Narelle is also a member of the board of the The Ethics Centre. She has held a number of non executive director roles over the past decade, including with the Tasmanian Development Board, the Documentary Australia Foundation and with women's entrepreneurship accelerator SBE Australia, which runs the Springboard Enterprises program.

Jeff Steiner - Guest
Partner, Head of Family Office

Jeff leads Mutual Trust's Family Office, helping high-net-worth families navigate the complexities of intergenerational wealth across ever-changing economic cycles. His mission is to maximise success in preserving, growing and transferring family legacies in a harmonious and orderly way. With over 25 years of experience in Family Advisory and Family Office management, Jeff is a highly sought after and acknowledged global thought leader in this space. It is this deep expertise in managing family dynamics, combined with a passion for helping families to achieve what matters most which enables our clients to accomplish their long-term goals across all aspects of their wealth.