This was going to be the summer I learned to play golf!
Then, in May, I received an email from Anne Maggisano, VP and Investment Counsellor at Burgundy Asset Management. Anne and I met more than a decade ago when she first invited me to speak at an event for her clients at Burgundy.
Since then, Anne founded Women of Burgundy (WoB), an initiative to motivate more women to make investing a priority and take a leadership role over their wealth.
“My colleague Rachel Davis and I are planning our WoB Minerva Summit for the fall,” wrote Anne, “building on our prior Summits around generational wealth. This year's focus will be on the Inheritance Economy with the goal of educating, informing and empowering families to understand the world the next generation is emerging into, and to provide them with tools and strategies that will support their children's and grandchildren's flourishing around wealth.
I immediately thought of you, Robin, and your work to raise money-smart kids. We are reaching out to see if you are interested and available to lead a session on this topic.”
Yes, I was interested! Over the years, Anne had kindly invited me to WoB’s events, including their Minerva Summits in 2023 and 2024, which were always outstanding. Now she was asking me to be a part of it!
I was excited to craft a new speech on a topic that’s near and dear to my heart. And to collaborate with Anne, Rachel and their colleague Mirjana Vladusic, who’d be in the room to introduce me and help with the Q&A section. Plus, I’d be on the agenda with other incredible women, including the legendary Janice Gross Stein, founding director of the Munk School of Global Affairs and one half of my favourite Canadian podcast on current events, Friday Focus.
Crafting a transformational speech always takes time and effort and I wanted my session to be more than just informative. It had to be “an experience” for the audience, something you can’t get by asking ChatGPT about the Inheritance Economy! (But if you did, it might tell you that over the next 20 years, $2 trillion in wealth will change hands in Canada and $70 trillion will be passed along in the US. In the Inheritance Economy, access to inherited wealth will increasingly shape opportunities and life outcomes. Hard work alone may no longer guarantee the same rewards it once did.)
The Summit took place last Thursday, September 18 in Toronto in a full ballroom at the Four Seasons Hotel. In her keynote, Dr. Eliza Filby talked about Inheritocracy and the “bank of mum and dad”. And I discovered why higher education and housing, which have long been two powerful investments for families seeking a brighter future for their kids, are now both under strain.
I was surprised and delighted that my session was standing room only! My group was very engaged throughout my talk and Mirjana and I had a chance to take some questions before I closed it out. The feedback I received was very positive and enthusiastic. If you were there, thank you!
I’ll be getting photos and hopefully video from the event soon, which I plan to share with you in a series I’m planning on Preparing for the Inheritance Economy.
I guess my golf game will have to wait a little longer!