What Everyday Kiwi Can Learn from High Net Worth Families: Andrew Clements on Making Cents

New Zealand’s wealthiest families don’t manage money the way most people expect.

Behind the privacy and low public profiles is a deliberate, values-led approach to wealth, one that focuses as much on protection and stewardship as it does on growth.

On the Making Cents podcast, Grayson Clements Director Andrew Clements joined financial journalist Frances Cook to share insight into how high-net-worth families build, manage and protect wealth, and why many of those lessons are just as relevant for everyday Kiwi families.

“Money talks, but wealth whispers”

One of Andrew’s earliest observations working with wealthy families is how unassuming many of them are.

“The difference between people who have money and people who are wealthy isn’t just numbers,” he explains. “It’s mindset and values.”

Rather than chasing visibility or short-term gains, these families prioritise privacy, trusted relationships and long-term thinking – often summed up as “money talks, but wealth whispers.”

Playing the long game

Across Andrew’s client base, long-term thinking consistently stands out.

Wealth creation and wealth protection are treated as two distinct phases, each requiring a different mindset. Quick wins are rarely worth damaging relationships or increasing risk.

“If today isn’t the right moment,” Andrew notes, “they’re happy to wait.”

Why the biggest risk isn’t financial

While market, tax and business risks are well understood, Andrew says the greatest threat to wealth is often internal.

“Family risk can destroy wealth faster than almost anything else.”

Poor communication, unclear expectations and unresolved conflict are far more likely to derail wealth than bad investments, which is why values, governance and early planning matter so much.

Designing wealth by intent, not default

Families who successfully preserve wealth don’t leave things to chance.

They start with values, then design legal and governance structures to support them, including wills, enduring powers of attorney, trusts and succession planning.

“Every family ends up with a system,” Andrew says. “The only question is whether it’s by design or by default.”

Why this matters for Kiwi families

While Andrew works with some of New Zealand’s wealthy families, the principles he shares are widely applicable.

Values-based planning, early conversations and long-term thinking can help families at any stage protect what they’ve built and reduce the risk of conflict down the track.

Watch or listen to the full conversation on the Making Cents podcast to hear Andrew explore these ideas in more depth, and how everyday families can apply them in practice.