In this engaging episode of Wealthyist, host Anthony Mlachnik (Senior Wealth Advisor at Annex Private Client) sits down with Joan Nesbitt, Vice Chancellor for University Advancement at the University of Wisconsin-Milwaukee (UWM). With over 30 years in higher education fundraising—including more than a decade in a similar role at Missouri S&T—Nesbitt shares insights from the front lines of partnering with ultra-high-net-worth individuals, families, and philanthropists to create lasting impact through education.

The conversation opens with Nesbitt's journey from Oklahoma roots (complete with a relaxed attitude toward Midwest tornado warnings and tennis during sirens) through Missouri to her current role in Wisconsin. She reflects on her accidental entry into fundraising in the 1980s and the shift from smaller nonprofits to better-resourced higher ed environments.

Key topics include:

• Evolving donor strategies: Most annual gifts still come simply as checks or credit cards from income, but high-capacity donors leverage sophisticated vehicles like stock donations, charitable remainder trusts, donor-advised funds, and planned/legacy giving tied to life events (e.g., business sales, liquidity events, or RMDs).
• Shifting alumni engagement: The old assumption of natural alumni loyalty has faded, especially among younger graduates burdened by student debt. Millennials and Gen Z prioritize broad societal impact, justice, and fairness over "helping someone just like me." Nesbitt discusses how UWM is adapting with personalized digital strategies and even piloting AI-driven platforms for scalable, avatar-based donor engagement (surprisingly appealing to those over 50).
• The power of storytelling and experiences: Annual galas, alumni awards, and heartfelt reflections highlight how connections—with professors, mentors, dorm friends, or campus moments—create enduring emotional ties. Donors often express genuine humility and surprise when recognized.
• Major gifts and ultra-wealthy mindsets: Nesbitt recounts standout stories, including a record-breaking $300 million gift (in ETFs) from a billionaire engineer who wanted transformative impact beyond "just a building." She emphasizes holistic donors who blend cash, time, volunteering, corporate resources, and networks. Even during UWM's 414 Day giving campaign, a major donor made seven targeted gifts across challenges, showing deep alignment with personal values.
• Sports, NIL, and the "front porch" of the university: Athletics draws attention and enrollment for many schools, but Nesbitt notes it varies by institution (less central at her prior engineering-focused school). She stresses operating with integrity amid the "Wild West" of NIL, keeping student-athlete education and experience first while collaborating across advancement and athletics.
• Personalization as the secret sauce: Whether for philanthropy or wealth management, success comes from understanding individual goals, values, and passions. Sophisticated donors leverage giving to amplify networks, teach family members, and create community connections—much like high-net-worth clients intentionally align time, relationships, and resources.

Nesbitt closes by inviting listeners to explore UWM's role as a community-engaged institution (recognized by the Carnegie Foundation) that transforms potential into opportunity through education, workforce development, and public events.

The episode offers wealthy listeners practical takeaways on intentional philanthropy, legacy planning, and building meaningful impact—while drawing thoughtful parallels to personalized wealth strategies. It's a warm, insightful look at how ultra-wealthy families turn resources into societal transformation, with a forward-looking nod to AI's role in advancement.

A great listen for anyone interested in higher ed giving, donor psychology, or blending personal values with strategic generosity.

In this remote episode of Wealthyist, recorded live from Jet OUT’s new hangar in Waukesha, Wisconsin, host Anthony Mlachnik (Senior Wealth Advisor at Annex Private Client) sits down with Evan Rossiter, Sales Director at Jet OUT — a Milwaukee-based private aviation company.

Evan clearly explains Jet OUT’s co-ownership model: it’s not traditional fractional ownership (like NetJets), not a jet card, and not aircraft management. Instead, it’s structured like tenant-in-common real estate — multiple co-owners share one Cessna Citation CJ4 Gen2 jet, but Jet OUT owns and operates the entire fleet. Co-owners simply call and fly. JETOUT handles all maintenance, piloting, flight planning, and heavy lifting.

Key highlights include:

• Strategic expansion — Bases in Milwaukee, Southwest & East Florida, Scottsdale, and Dallas (with 6 more CJ4s arriving in 2026, bringing the fleet to ~16 aircraft).
• The efficiency niche — Matching co-owners flying the same day or opposite directions (especially Midwest-to-Florida runs), which reduces costs and boosts utilization.
• Time as the ultimate luxury — Dramatic contrast vs. commercial travel: 15-minute airport arrivals, no TSA, direct flights to smaller airports, and multi-stop business days that let executives be home for dinner.
• Real-world use cases — Business owners hitting 3–4 cities in one day; families reaching second homes in Florida or Arizona; even light-hearted stories like flying pets solo.
• Entry points — Ideal for 4–5+ round trips per year; a shorter “dip-your-toe” one-year program is also available.
• Community & lifestyle angle — Like-minded co-owners often connect (when desired), and different paint schemes on each jet preserve anonymity.
• Future outlook — Continued growth in private aviation driven by commercial frustrations post-COVID and TSA issues; possible larger aircraft coming.

Anthony ties the conversation back to wealth management: how high-net-worth clients are “time poor,” and how strategic choices like smart private aviation can protect family time, reduce stress, and align with values — exactly the kind of lifestyle optimization Wealthyist explores.

In this episode of Wealthyist, host Anthony Mlachnik interviews Jim Villa, CEO of NAIOP Wisconsin (the Commercial Real Estate Development Association). With 35 years in public policy, politics, and economic development—including roles under Governor Tommy Thompson and Scott Walker—Villa offers a grounded, insider perspective on commercial real estate as a vehicle for wealth creation and community impact.

Key Highlights:

• Jim’s Background & NAIOP’s Mission: Villa leads efforts focused on public policy advocacy and developing the next generation of leaders (under 35). He stresses that "policy matters"—tracking local and state policies gives better market insight than national headlines.
• Core Challenges in Commercial Real Estate: Talent/people shortages remain the #1 issue, ahead of financing and permitting. Long-term strategies are essential to weather economic cycles.
• Office Sector Trends: Post-COVID hybrid work (accelerated but not created by the pandemic) continues. Demand persists for Class A spaces with premium amenities, technology, huddle areas, and “Starbucks-like” environments in vibrant locations. Downtown Milwaukee (e.g., BMO Tower) is strong; suburban markets are rebounding. Conversions and rehabs are more common than new builds.
• Multifamily & Housing: High-end luxury apartments in Milwaukee are filling slowly due to conservative absorption rates. Major shortage of workforce housing (for teachers, firefighters, service workers) amid high construction costs. Wisconsin saw some of the nation’s steepest rent/housing price spikes but remains more affordable overall than coastal markets.
• Investment Appeal of Wisconsin/Midwest: Viewed as a stable, “durable,” and good-value tertiary market. Less volatile than Sunbelt hotspots like Texas. Strong local investor participation, cautious development practices, and tangible community impact make it attractive for long-term holds. Post-COVID, some coastal capital has shown interest due to affordability and consistency.
• Strategies for Wealthy Investors:
  • Diversification alongside other assets.
  • Tax tools like 1031 exchanges, Opportunity Zones, and bonus depreciation (strengthened in recent legislation).
  • ESG/impact focus: Local developers often deliver community benefits (childcare, retail, neighborhood revitalization) beyond pure financial returns.
  • Partner with trusted local professionals and align with overall tax/estate plans.
• Future Outlook: AI-driven demand for data centers and energy generation will be critical. Wisconsin’s reliable power is a competitive advantage. Emphasis on creating “places” not just “spaces,” legacy-building, and balancing innovation (e.g., tech in buildings) with practical needs.

Villa portrays commercial real estate as more than an asset class—it’s economic development that creates jobs, shapes communities, and builds lasting generational wealth when approached thoughtfully with the right team and long-term mindset. The episode is especially relevant for Midwest investors who prefer tangible, drive-by assets and balanced portfolios.

In this episode of Wealthyist, host Anthony Mlachnik(senior wealth advisor at Annex Private Client) interviews Dr. Tim Murray, an anesthesiologist and founder/CEO of Solstice Health. Murray launched the company in 2012 after witnessing pricing practices in traditional hospital systems, noting that medical bills remain the #1 cause of bankruptcy.

Core Business Model:
Solstice Health combines Direct Primary Care (DPC) with direct surgical care under one umbrella — a rare (and possibly unique) setup in the U.S. Patients pay a flat $59/month for unlimited primary care access (24/7, no copays, longer visits), plus labs, imaging, and medications at true wholesale cost. They also operate an ambulatory surgery center, delivering procedures like hip replacements for ~$19,500 all-in — compared to $60,000–$100,000 at traditional hospitals.

Key Themes & Insights:

• Education is everything. Most people (and many business owners) don’t understand the difference between insurance (financial risk protection) and healthcare itself. Murray emphasizes transparency and fiduciary responsibility for self-funded employers.
• Why people resist change: Comfort with the status quo ("just hand over the insurance card") and lack of price visibility.
• Incentives matter. In DPC, providers have smaller patient panels (600–800 vs. 2,000–4,000), giving them time for real care, prevention, and even "deprescribing" medications (e.g., removing statins or metformin after lifestyle changes, especially through their medically supervised weight loss program targeting the obesity epidemic).
• Physician challenges: Many doctors fear leaving hospital systems due to non-competes, loss of benefits, or business unfamiliarity. Hospital lobbies exert heavy control (e.g., ACA restrictions on physician-owned hospitals).
• Wellness & holistic approach: Strong focus on lifestyle, nutrition (critiquing the modern food system’s sugar overload), functional medicine, IV therapy, and keeping people healthy rather than just treating sickness. Incentives in DPC align with prevention, not volume.
• Time savings: Huge reductions in employee absenteeism, no more wasted time on unnecessary urgent care/pharmacy runs, and more remote care options — freeing up time for family, work, and life.
• Wealthy trends: Concierge medicine pioneered premium direct access for the rich; DPC democratizes that model at a fraction of the cost while delivering "executive physical" level attention to everyday patients and employees.

Closing Takeaways:
The conversation highlights a holistic view of wealth — financial health alone isn’t enough without physical and mental well-being. Dr. Murray and Anthony both stress integrated wellness, time efficiency, and proactive decision-making for business owners, leaders, and families. Solstice positions itself as a transparent, competition-driven alternative that can dramatically lower costs while improving care quality and doctor/patient satisfaction.

Overall, the episode serves as both an inspiring entrepreneurial story and a practical call-to-action for business owners and individuals frustrated with rising healthcare costs: question the system, seek transparency, and explore direct care models that realign incentives toward better health and lower spending.

The episode of Wealthyist (the podcast exploring the lifestyles, choices, and strategies of the wealthy, produced by Annex Wealth Management) features host Tom Parks, Director of Retirement Plan Services, interviewing his colleague Deanne Phillips, Managing Director of Client and Community Engagement. The focus is on "passion assets"—personal items acquired out of genuine love and passion rather than primarily as investments, which often lack formal beneficiary designations unlike financial accounts.

Key Points from the Discussion:

• Definition: Passion assets include art, classic cars, wine collections, musical instruments, rare books, watches, sports memorabilia, jewelry, and even pets (highlighted as America's favorite, with Americans spending over $140 billion annually on them). These can represent significant value (hundreds of thousands of dollars) in high-net-worth households but are frequently overlooked in estate planning.
• Why They're Overlooked: Unlike retirement or brokerage accounts with built-in beneficiary forms and professional management, passion assets are often stored informally (basements, attics, wine cellars). Heirs may not know their worth, leading to hasty disposal ("haul it all away") or emotional oversights.
• Real-World Examples: Deanne shares a personal story of inheriting a hoarded family home filled with hidden treasures like over 100 pieces of Cristal d'Arques and Orrefors crystal, vintage fabrics concealing a pristine 1940s Deanna Durbin doll, old slides, and more. Surprises can include vintage electronics (e.g., original Apple computers or iPods), comic books, first-edition books, mid-century furniture, early Rolex watches, or even flip phones amid modern trends.
• Planning Importance — Three main reasons for valuation and documentation:
  1. Insurance: Standard homeowners policies often fall short; specialized riders or coverage are needed, especially for older/antique items.
  2. Estate Planning: Prevents family disputes over unequal values (e.g., one child getting a high-value painting) and ensures fair division.
  3. Taxes: Collectibles face higher capital gains rates upon sale; appraisals help with accurate reporting.
• Preservation Tips: Protect items from damage (e.g., temperature-controlled wine storage, UV/humidity control for art, regular servicing for watches/cars, archival methods for paper ephemera like Civil War letters). Before donating or discarding anything 30–40+ years old, consult appraisers or experts—markets are cyclical and surprising.
• Pets as Passion Assets: A major focus, given generational pet ownership trends (e.g., 76% of millennials). If a pet outlives the owner (e.g., parrots or tortoises), plan for care. Pet trusts (recognized in all states, though provisions vary) allocate funds for a designated caregiver, specify care standards/vet/groomer, and name a contingent beneficiary (e.g., charity) for remaining funds after the pet's life. Famous example: Leona Helmsley's trust for her dog (reduced by courts but spotlighted the concept).
• Actionable Steps (Deanne's five key recommendations):
  1. Take inventory (use video for ease).
  2. Photograph/document everything.
  3. Get appraisals (update every few years as markets shift).
  4. Ensure proper insurance coverage.
  5. Communicate with heirs (e.g., confirm they're willing/able to care for a pet or want specific items).
• Final Takeaway: Passion assets enrich life, but without planning, they can burden the next generation. Proactive steps turn them into meaningful legacies rather than problems.

Host Anthony Mlachnik, Senior Wealth Advisor at Annex Private Client, interviews Rich Gray, founder of Rebrand NY—a sports and business development firm that connects brands with athletes for authentic marketing partnerships, while helping athletes (current, NIL-eligible, and retired) maximize their personal brands, off-field ventures, and long-term opportunities.

Key Discussion Points:

• Rich's Background: Born on Chicago's South Side, basketball opened doors (first flight for a game, college at Chicago State). Post-playing, early internships with Chicago Sky exposed him to NBA stars/recruits. A pivotal chat with Hank Thomas (Octagon/Kesmai) inspired his shift to sports business. He earned a law degree (Washburn University, with time at KU), interned at Priority Sports, then joined Brooklyn Nets front office via connections. This led to his current role bridging sports, law, and brand strategy.
• When Athletes Become Brands: Historically, marquee college players; now, elite high school freshmen/sophomores must think this way due to NIL. Protection (legal/IP) and marketing start early.
• What Brands Seek in Athletes:Authenticity above all—no forced narratives. Brands want athletes whose values/lifestyle already align (e.g., health-focused athlete for nutrition brand). High performance + genuine fit creates believable stories and consumer trust. Data (social following, virality) helps, but behavior/nuance matters long-term.
• Cash vs. Equity in Deals: Assess brand stage—startups/white-space opportunities favor equity for massive upside (e.g., Kobe Bryant's BodyArmor investment turned a challenger into a competitor vs. Gatorade). Balance immediate cash needs with potential growth; value your time/input.
• Athlete Brand Value: Mix of tangible metrics (social followers, content performance) and behavioral alignment. Follow "the wealthy" (high-achievers) for strategies.
• Sustainable vs. Transactional Partnerships: Long-term storytelling (full lifecycle: college → pro → retirement) builds retention/value (e.g., trading card companies investing in NIL for ongoing narratives). Transactional = short-term flashes.
• Wellness/Mental Health Trends: Shift from taboo to open; brands now support holistic athlete health (mental, physical). Unions/retired players associations partner on lifecycle support. Some brands think long-term (today/tomorrow/future); others chase trends without red-flag awareness.
• Parallels to Wealth Management/Business Owners: Intentionality, values alignment, long-term planning mirror athlete branding. Athletes learn from business owners (strategic info use); vice versa. NIL democratizes opportunities—even mid-major/reserve players can build wealth thoughtfully.
• AI/Social Media & Rebrand's Focus: Keep IP relevant post-peak via targeted community engagement. Package legacy for businesses, nonprofits, etc. Maintain satisfaction beyond playing days.
• Emerging Sports: Women's volleyball exploding (e.g., daughters of NBA stars like Jermaine O'Neal, Kevin Garnett, Rajon Rondo). Dads apply pro experience to daughters' new landscape—unique mentorship, purpose, faster growth than early WNBA.
• Media Evolution (e.g., NBA): Shift toward centralized platforms (NBA app as hub, others as plug-ins). Testing phase; post-next TV deal, expect consolidated access.
• Player Empowerment: NBPA's evolution (e.g., Think450 marketing arm, player-led like Andre Iguodala) influences deals, including broadcasting rights—positive for athletes.

The episode draws strong parallels between athlete career transitions/retirement and business sales/retirement planning—emphasizing intentionality, education, and long-term vision.

In this week's episode of Wealthyist, hosted by Anthony Mlachnik, Senior Wealth Advisor for Annex Private Client, Anthony and Rose Gray from Fox World Travel explore how the definition of luxury travel has evolved dramatically. No longer about the most extravagant, showy accommodations or vehicles to "make a statement," today's affluent travelers prioritize exceptional service, bespoke and unique itineraries, quality over quantity, and low-key, private experiences. They often keep trips understated—rooted in Midwest values of humility, family, and privacy—focusing on emotional impact (e.g., meaningful volunteer work or profound memories) rather than bragging rights.

Rose shares her favorite continent is Africa (for its profound experiences), and she gently challenges the "visit all seven continents" goal by highlighting realities like Antarctica's challenges (e.g., penguin smells, zodiac landings without easy access).

They address modern trends:

• AI in travel: Fox World Travel embraces it (with their own bot "Kobe the Cheese" for initial ideas/emails), but Rose stresses human expertise is essential—citing AI's hilarious errors (e.g., recommending a food bank as a top restaurant).
• Social media's double-edged sword: It amplifies misinformation (e.g., recent Puerto Vallarta shelter-in-place coverage portrayed as being "trapped," scaring people away from Mexico broadly), but Fox uses it to evoke emotion. Phones enable stunning photos (replacing bulky cameras), yet pose risks like location tagging aiding poachers in Africa or security vulnerabilities—advising delayed posting or turning off location services.
• Group vs. personalized travel: Rose explains how structured group trips (corporate incentives, family/multi-gen, or high-end adventures) provide "freedom within structure"—pre-planned logistics allow flexibility (e.g., skipping for ancestral visits). They balance large events with personalization by vetting partners deeply, understanding group dynamics, and incorporating individual needs.

Core theme: The new pinnacle of luxury is ultimate, anticipatory service—beating clients to their needs, creating memorable "life moments" (parallels drawn to wealth management, where investment performance is table stakes, but holistic life support shines).

Rose recounts a recent Puerto Vallarta trip disrupted by events, turning into a positive bonding experience with kindness and sharing among guests (mostly Canadians post-hockey game). They touch on private aviation (prices dropping, viable alternative to premium commercial), membership-style annual travel services (high-touch, family-like knowledge of clients), and preparations for remote/extreme trips (vetted partners, on-ground security intel, group compatibility).

Destination highlights include:

• Corporate retreats: Costa Rica for adventure/team-building or Little Palm Island (Florida) for luxury.
• Family/multi-gen: Africa safaris for unforgettable impact.
• Romantic getaway: Ladera in St. Lucia (cave-like rooms with plunge pools, Michelin-level dining, ultimate relaxation).

Advice for starting luxury travel: Allocate your budget intentionally (e.g., one blow-out trip vs. several solid ones, multi-gen vs. couple-focused, incorporating philanthropy/volunteerism for deeper fulfillment). Travel insurance (via partners like Travel Guard) is non-negotiable—offered every time, with clear explanations of coverage.

The episode ties travel trends to broader wealthy lifestyles: emphasizing service, anticipation, emotional depth, risk management, and balancing opulence with purpose and giving back.

In this episode of Wealthyist, host Deanne Phillips, CFP® and Managing Director of Client and Community Engagement at Annex Wealth Management, interviews Dr. Suzanne Gehl (a board-certified family physician, former WAFP president, and owner of a solo Direct Primary Care practice in Hartford, Wisconsin.

Dr. Gehl explains Direct Primary Care (DPC) as a membership-based model that provides unlimited access to a personal physician without insurance billing for primary care. Key features include:

• Ultra-accessible care: Same/next-day appointments (30–120+ minutes long), 24/7 direct phone/text/email response (often within hours), telemedicine, home visits, and no waiting rooms or phone trees.
• Cost savings: Covers unlimited visits, point-of-care testing (e.g., rapid strep, urine tests), drastically discounted labs (90–95% off), and low-cost generic meds (e.g., 3-month supplies under $3). No copays, deductibles, or markups.
• Patient experience: Direct doctor interaction from the start, comprehensive histories/exams, in-office procedures (e.g., joint injections, EKGs), and proactive management—catching issues like undiagnosed hypertension, thyroid problems, or even cancer early.
• Business/employer angle: Companies can cover memberships to slash group health costs (examples: 16–42% savings in first year, preventing job offshoring by reducing expenses). Employees gain easy access, leading to better preventive care and fewer ER/urgent care visits.
• Differences from alternatives: More affordable than concierge medicine ($2,700–$40,000+/year, often bills insurance); no middlemen, fancy lobbies, or large staffs—keeps overhead low.
• Medicare integration: Practices opt out of Medicare (no billing/reimbursement), but patients can use it for hospitalizations/specialists. DPC complements (doesn't replace) high-deductible or catastrophic insurance for major needs.
• Advanced tools: Dr. Gehl highlights innovations like multi-cancer early detection blood tests (e.g., Galleri), genetic longevity profiling (e.g., via GB Insights or New Amsterdam Genomics for personalized prevention, supplement/medication guidance), and virtual specialist consults—enabled by small patient panels (500–700 max) for deeper research and faster implementation.

The discussion emphasizes DPC's growth since ~2010 (now ~9% of U.S. primary care docs), its efficiency for busy/high-net-worth individuals , and its wellness focus—promoting healthier lives, reduced overall healthcare spend, and better quality/quantity of life.

Deanne ties it to strategic choices for the wealthy: using DPC as a smart, proactive complement to insurance for time savings, cost control, and superior outcomes. Listeners can find DPC providers via dpcare.org.

This episode positions DPC as an empowering lifestyle upgrade—restoring the doctor-patient relationship while aligning health with financial savvy.