RWH074: True Wealth w/ Matt Ludmer

Matt Ludmer (0:00)

You're listening to TIP.

William Green (0:03)

Hi there. It's wonderful to see you again on the Richer, Wiser, Happier podcast. I'm particularly excited about today's episode because it's a long-awaited opportunity to introduce you to someone who's been a really important figure in my life since we first became great friends about eight years ago.

His name is Matt Ludmer, and he runs a wealth management firm called Aligned Wealth, which helps sophisticated high net worth clients build long-term wealth in a very simple, low-stress way that tries to give them the freedom and spaciousness to concentrate on what matters most to them. As you'll hear, Matt's focus is on building a life that's truly rich in every dimension, which obviously goes way beyond money. That's also the focus of his new book, which I have right here, which comes out this week. It's titled The Right Mountain, and the subtitle is Practical Wisdom for Achieving True Wealth.

I'm not by any means an impartial observer because I worked very closely with Matt and his co-author, Kristin Kay, on this book over several years, ultimately serving as their editor. But I have no doubt at all that you'll find Matt's insights extremely valuable, both in the book and in today's discussion. But before we get to our conversation, I also wanted to mention quickly that I still have several open spaces in my upcoming Richer, Wiser, Happier Masterclass, which begins in December.

This is an opportunity to study with me over the course of a year in a very small, intimate group that's likely to be somewhere between 10 and 20 people. We'll meet once a month over Zoom, and we'll also get together in person at a couple of unique events. The aim here is to create a year-long journey of exploration to help you move toward a life that's truly richer, wiser and happier. We'll chat in depth about how you can actually apply in your own life the lessons I've learned from great investors like Charlie Munger, Sir John Templeton, Ed Thorpe, Howard Marks, Nick Sleep, Bill Miller and the like. These are not just lessons about how to build enduring wealth, but about how to think and how to live. This is the third year in a row that I've hosted a Richer, Wiser, Happier Masterclass, and I expect it to be the last class that I offer. The first two groups included an exceptionally accomplished selection of people from all over the world, including some hugely successful hedge fund managers and mutual fund managers, asset allocators, wealth advisors, managers of family offices, a doctor, a management consultant, several CEOs and entrepreneurs, a renowned physicist, Tung Kwant, and the head of global real estate, the world's largest asset manager. But what matters most to me is that this is an unusually thoughtful, soulful bunch of people who love learning from each other and sharing insights about investing, business, and life.

One member of the current master class recently landed an extraordinary new job, and I was thrilled to learn the other day that another member of the class had played a vital role in helping to guide him and think through this life-changing opportunity. That's really the essence of what we're talking about here. It's all about building really rich relationships with a wonderful group of people who operate this, friends along the path, helping you to design a more meaningful, aligned, joyful life. If you'd like to know more about the master class, please feel free to contact my friend and fellow podcast host, Kyle Grieve, and he can answer any questions you might have about it, including information about dates, prices and such. His email is kyle, that's k-y-l-e, at theinvestorspodcast.com.

I'm entirely biased, but I think this is a rare opportunity to become not only a better investor, but to think more deeply about how you actually want to live and to build life-enriching friendships with a really special group of people. If that appeals to you, please reach out to Kyle. And if the stars align, I'd love to see you in December. And now back to the show.

Matt Ludmer (4:11)

You're listening to the Richer, Wiser, Happier Podcast, where your host, William Green, interviews the world's greatest investors and explores how to win in markets and life. This show is not investment advice. It's intended for informational and entertainment purposes only. All opinions expressed by hosts and guests are solely their own, and they may have investments in the securities discussed. Now for your host, William Green.

William Green (4:45)

Hi folks, I'm thrilled to be back with you today on the Richer, Wiser, Happier podcast. It's an absolute joy to introduce our very special guest, Matt Ludmer, who's one of my closest friends. Matt has spent more than four decades in the investment business. After graduating from the business school at the University of Chicago, he started his career as one of the first wealth managers at Morgan Stanley. He went on to become a director at Morgan Stanley and a director at Donaldson, Lufkin and Genret, where he led the firm's largest wealth advisory group. In 2013, Matt broke free and launched his own company, Aligned Wealth Management, where he manages money for high net worth clients. As we'll discuss, his focus is not just on building financial riches, but on helping people to move beyond financial success to what he calls true wealth, which involves building a happy and fulfilling life that's rich in the deepest sense of the word.