EP 30

Table Stakes 2.0

In this episode of The UHNW Institute Podcast, host Russ Haworth is joined by Tom McCullough, Managing Director of Thought Leadership and Strategy at the Institute and Partner at Corient. Together, they discuss Table Stakes 2.0, an updated framework outlining what a firm needs in place to deliver integrated wealth management to UHNW families.

Hear why Tom believed a 2.0 version of the Table Stakes was needed and listen as he explains the client needs as the table top to the framework and walks through the four legs, including firm, advisor, services and process, and discusses why the industry is treating the integrated advisor as an emerging profession. He also reflects on what distinguishes genuinely integrated firms from those that only market integration, and the credentialing programs the Institute is developing.

Topics discussed include:

  • How to distinguish a genuinely integrated firm from one that markets integration without delivering it
  • Common mistakes in the discovery process and how effective discovery benefits clients
  • Questions families should ask before meeting with an advisor
  • How AI and wider access to information are changing what clients expect from an advisor

For a more detailed examination of the concepts discussed in this episode, download Tom McCullough’s white paper, Table Stakes: The Service Model of the Future for Integrated Family Wealth Management.

 

Watch the Episode

 

Russ Haworth

Head of Family Governance, Transition & the Next Generation
Charles Park Family Office

Russ is a specialist adviser, facilitator, and coach working with family businesses and family offices. He has over fifteen years’ experience supporting families as they navigate the relational, strategic, and governance challenges that come from owning and leading together.

His work is grounded in a deep understanding of family dynamics, decision-making, and transition, shaped by a background in financial planning and wealth management. This combination allows him to work comfortably across both commercial and personal dimensions, helping families build clarity, confidence, and alignment over time.

Russ holds the Advanced Certificate in Family Business Advising from the Family Firm Institute, a globally recognised qualification for advisers working with family-owned enterprises. He is known for his thoughtful, plain-speaking approach and for creating the conditions where families can have honest conversations and make well-considered decisions together

Tom McCullough

Managing Director of Thought Leadership and Strategy
The UHNW Institute

Partner
Corient

Tom McCullough is a Partner of Corient. He is a frequent speaker on issues relevant to families of wealth and is the co-author of three books — Wealth of Wisdom: The Top 50 Questions Wealthy Families Ask, Wealth of Wisdom: Top Practices for Wealthy Families and Their Advisors, and Family Wealth Management: 7 Imperatives for Successful Investing. He is an adjunct professor and executive-in-residence at the University of Toronto’s Rotman School of Management, a member of the Editorial Board of the Journal of Wealth Management, and a member of the board and faculty of the Ultra High Net Worth Institute. He was awarded ‘Best Individual Contribution to Thought Leadership in the Wealth Management Industry (North America)’ at the 2020 Family Wealth Report Awards.