This month, the Institute spotlights our quarterly conversation with Brian Hughes, President of Eton Advisors.
Brian traces his path with the Institute from an “idea on a napkin” pitched by Steve Prostano to a founding role on the Domains development sub-committee. He revisits the early-career client question that turned him toward serving families rather than selling products and draws on ten years leading the Southeastern Family Office Forum to speak to what the next generation of SFO executives are looking for in peer community.
Brian Hughes
President, Eton Advisors
LinkedIn | Bio
Q+A
- Why did you join the Institute and what keeps you engaged here?
- I was approached by Steve Prostano with an idea on a napkin. I thought he was crazy. I committed. Started on the “Domains” development sub-committee and started to see something special. Something needed. Something unique that could bring a much-needed framework to serving UHNW families. I was also a founding faculty member and advisory board member, and continued to be impressed by the talent coming to the Institute and the incredible content that was being created and preserved.
- As it pertains to UHNW client needs, what are the most significant trends you’re seeing now?
- I continue to see a trend with G1 wealth creators and especially with the rising gen, to focus more on non-investment services. i.e., philanthropy/impact, preserving a family’s legacy/story, preparing the heirs to be good stewards of their wealth. As an industry, there is a lot of scaffolding that must be in place, especially training, in these areas, and complementary services.
- Tell us about a moment — with a client, a colleague, or in your career — that fundamentally changed how you approach your work?
- Early on in my career as a financial advisor, working in a retail financial services firm, I discovered that families wanted objective advice, not sold a product or even a solution. I had the “aha” moment when a client asked, “When should we give our children this money they are going to inherit?” It made me take a big step back and wonder if I was in the wrong part of the industry, as I was so unprepared to help them answer that question. It’s NOT about the money, it’s about what the money does to relationships, decision making, etc. “Dynamite on the tracks,” as my former boss and mentor, Dirk Junge, a Pitcairn family member, used to say.
- What’s a book, podcast, or idea that’s been living rent-free in your head lately?
- Oh boy. That’s so hard. If I could only choose one, in this moment, I’d pick “Unreasonable Hospitality” by Will Guidara. The remarkable power of giving people MORE than they expect.
- Share a recent thought leadership piece.
- Recently, Brene Brown teamed with her social media “dustup” nemesis, Adam Grant, and created “The Curiosity Shop” podcast. I just listened to their latest episode titled “Uncertainty is Not the Enemy.” It’s all about having a strategy for “Pre-Mortem” conversations in our leadership team. What it takes to have the courage to discuss “what if this doesn’t happen (results)” and creating the safe space for people to be heard. Fascinating.
- You are an active member of the SFO business advisory board and have been integral in spreading awareness about the SFO Circle since its launch. What do you think the next generation of SFO executives is looking for in terms of community and connectivity?
- Having helped lead the Southeastern Family Office Forum for ten years, I was always astounded by the appetite of family office executives to both learn from their peers and be vulnerable to share what has failed in their office and or with their principal family. It’s not a specific topic or area; it’s the collective desire to learn from each other.
