Intentional Family Wealth Podcast

Hosted by Stephen H. Nelson, CFA, CFP® & Matthew E. Higbie, CFA, CFP®,TPCP®

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Oct 2026

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About the show

For families with significant wealth, the question shifts from "Will I have enough?" to "How do I steward this well?" Over years of working with affluent families, we've seen recurring concerns: How much should we give our children without harming their motivation or well-being? How do we live with purpose? How can we protect family unity from the challenges wealth can bring? And how do we balance enjoying our resources with giving? Join Stephen Nelson, CFA®, CFP® and Matt Higbie, CFA®, CFP®, TPCP® as they share insights on investing, tax planning, and raising grounded, capable children. This isn't generic advice—it's clarity for those with more at stake.

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November 1, 2026Episode 9120 min

Are Charitable Trusts Worth It? (CLT vs. CRT Explained)

Are charitable trusts worth the complexity? Charitable Remainder Trusts (CRTs) and Charitable Lead Trusts (CLTs) can offer significant tax and estate planning benefits, but they also come with important trade-offs. In this episode, we explain how charitable trusts work, when they make sense for high-net-worth families, and how they compare to simpler charitable giving strategies like donor-advised funds. We cover charitable trust tax benefits, strategies for diversifying appreciated stock, estate tax planning, and the often-overlooked costs of giving up control of your wealth. If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com

October 15, 2026Episode 5816 min

How To Invest $70 Billion

What if the best way to invest $70 billion is also one of the simplest? Nevada's $70 billion pension fund, managed by Steve Edmundson and a remarkably small investment team, has outperformed many of its peers using a straightforward strategy built around low-cost index funds, Treasury bonds, and disciplined rebalancing. In this episode, we explore how Nevada PERS achieves impressive investment returns while avoiding the high fees and complexity of hedge funds, private equity, and alternative investments. We also discuss what wealthy families can learn from this approach, why investment costs and taxes matter, and whether more sophisticated investment strategies actually produce better results. The takeaway: More money doesn't have to mean more complexity. If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com

October 1, 2026Episode 8910 min

What Are You Actually Retiring To? (The Responsibility of Retirement)

Retirement isn't just about having enough money. It's about deciding what you'll do with the freedom you've worked decades to achieve. In this podast, Stephen explores the responsibility of retirement - why financial independence can actually require more intentionality, initiative, and purpose. From strengthening family relationships and investing in grandchildren to generosity, faith, and creating meaningful experiences, a successful retirement requires more than a financial plan. It requires a plan for how you'll use your time.

September 15, 2026Episode 8917 min

This Is How Families Give Generously With Purpose

What does it look like to be truly generous with your wealth? Stephen Nelson sits down with Becky Cullum of National Christian Foundation (NCF) to discuss how families can approach generosity with greater clarity, purpose, and joy. They explore the biggest barriers to charitable giving, how to create a family giving strategy, involving children in generosity, and how families can think differently about stewarding wealth. Resources: Causes and Passions Guide -- https://www.ncfgiving.com/causes-and-passions-guide Women Doing Well -- https://womendoingwell.org/the-pathway/ Generous Family -- https://generousfamily.com/ If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com

September 1, 2026Episode 8720 min

Have a Huge Capital Gain? Here's What We'd Do

How should you manage a large capital gain and minimize the taxes you pay? In this episode, we break down how we think about direct indexing, tax-loss harvesting, concentrated stock, exchange funds, 351 exchanges, long/short strategies, and Qualified Opportunity Zones. We explain why long-only direct indexing can be compelling for high-tax investors—and why some sophisticated tax strategies may not be worth the added fees, illiquidity, complexity, and investment risk. If you have significant capital gains or concentrated stock, this episode provides a framework for evaluating tax strategies based on what ultimately matters: long-term wealth creation after taxes and fees. If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com

August 15, 2026Episode 8618 min

Concentrated Stock: How Much is Too Much?

Holding a winning stock can build tremendous wealth, but when one company becomes too much of your portfolio, it can also create significant risk. In this episode, we break down concentrated stock positions, why investors become emotionally attached to their biggest winners, and what the historical data says about the risks of owning too much of a single company. We discuss diversification, behavioral biases, RSUs and inherited stock, and why even great companies don't stay great forever. If a single stock represents a meaningful portion of your wealth, this episode will help you think more clearly about the tradeoff between future upside and protecting what you've already built. Next episode: How we actually manage concentrated stock positions and which popular strategies we typically avoid. If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com

August 1, 2026Episode 8520 min

4 Lessons Every Wealthy Parent Should Know

If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com After interviewing both a successful entrepreneur and his adult son, we reflect on the biggest lessons they shared about raising grounded children, teaching financial responsibility, practicing generosity, and building a lasting family legacy. In this episode, we discuss the four biggest themes that emerged: -- Why generosity may be the most important family wealth habit -- When (and how) parents should financially help adult children -- How to have meaningful conversations about money across generations -- Why money alone will never bring lasting fulfillment Whether you're building wealth, preparing your children for inheritance, or simply trying to create stronger family values, this conversation offers practical wisdom for parents and grandparents alike.

July 15, 2026Episode 8435 min

(Pt. 2) How to Raise Grounded Kids After a Business Exit [The Son's Perspective]

If you've built significant wealth, one question probably keeps you up at night: Will my kids grow into capable, grateful adults? In this episode, we hear from the adult son of a successful entrepreneur who grew up after his family experienced a major business sale. He shares what his parents did well, what shaped his character, what he wishes they'd talked about more, and the lessons he's now applying as a father himself. We discuss parenting, money conversations, work ethic, generosity, faith, purpose, and how wealthy families can raise children who flourish—not despite wealth, but because they're intentional with it. If you're a family with significant wealth looking to preserve both your assets and your family values, this conversation is for you. If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com

July 1, 2026Episode 8325 min

(Pt. 1) How to Raise Grounded Kids After a Business Exit [The Father's Perspective]

What happens when a family experiences significant wealth—but the children still grow up grounded, generous, and motivated? In this conversation, entrepreneur Steve R. shares how he and his wife navigated parenting through a successful business exit, taught their children about money, work, generosity, and faith, and avoided many of the pitfalls that often come with wealth. You'll hear practical lessons on raising financially responsible kids, family values, inheritance expectations, generosity, and preparing the next generation for wealth. If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com

June 15, 2026Episode 8235 min

Victor Haghani on Why Wealth Doesn't Last: Lessons from The Missing Billionaires

What happens to great fortunes over generations—and why do so few billionaire families stay wealthy? In this episode, former Long-Term Capital Management co-founder Victor Haghani shares lessons from his book The Missing Billionaires, revealing why wealth preservation is harder than most people realize. Learn about investing, risk management, diversification, intergenerational wealth planning, market crashes, tax-efficient investing, direct indexing, and why Victor invests his own family's money in low-cost index funds. If you're interested in family wealth, financial independence, investing, and preserving wealth across generations, this conversation is packed with practical insights. Victor's firm: https://elmwealth.com/ Elm Wealth YouTube: https://www.youtube.com/@elmwealth *** If you feel like you should be getting more value than the AUM fee you're currently paying at your brokerage firm, visit https://engagewithbirchwood.com