1. There are more food banks in the UK than there are McDonalds.

2. According to Dr Nicholas Nassim Taleb the three most harmful addictions in life are heroin, carbohydrates and a monthly pay check.

It was these two sentences that confronted Stephanie Brobbey enough for her to trade in her coveted law career to found her own purpose driven wealth advisory firm. The Good Ancestor Movement.

Her story is a personal one; this chapter begins in 2018 at an event on social mobility held at The Conduit. ‘There was something very powerful about being surrounded by individuals who are all purpose-driven and seeking to live in greater alignment with their values. I was coming up to ten years of being a private wealth lawyer and feeling a growing sense of discomfort, recognising that it was time for me to become more connected to my broader purpose.’ On an upward career trajectory, Stephanie had worked her way through the ranks, heading towards the pinnacle – partnership. And yet she turned it down. I mention that it was a very courageous decision, but Stephanie quickly rebuts, ‘it didn’t need courage, it just felt right.’

‘I realised that what I had enjoyed so much about working in private wealth was exploring my curiosity around the complexities of human relationships and the psychology of how we all, as individuals, relate to wealth.’ Armed with this insight Stephanie went on a pilgrimage to discover what her real calling was, how she could have a bigger impact outside of a prescriptive profession and realign with her values. The Conduit provided Stephanie with a space to network and converse, a seed of an idea forming alongside a realisation that her passion for values driven wealth stewardship and intergenerational attitudes to wealth sat within the context of harnessing the power of resources, connections and networks for the greater good.

Since then, Stephanie’s idea has bloomed into the Good Ancestor Movement, receiving grant funding to undertake a research report about the role of the trusted advisor in the private wealth industry, highlighting their role in society and how it shapes the global flow of capital. The Good Ancestor Movement’s primary intention is to offer a consultancy service, challenging the industry to form ecosystems that better facilitate progressive wealth stewardship and distribution – not just progressive tax avoidance and maximisation.

It seems odd. Who are these people that actually want to pay more tax? ‘There is a spectrum, from very progressive to more traditional, but they are all incredibly values driven.’ And, according to Stephanie, have a tendency towards vegetarianism… It may seem like a flippant remark, but it makes sense. Affluent individuals who are choosing to be vegetarian for ethical reasons are the same ones who feel the weight and baggage of their wealth. Seeking alternative distribution of their finances for positive impact. Regardless of steak or tofu, I ask Stephanie if she thinks that the past few years have caused a shift and whether the confronting issues that we are all facing have modified perspectives. She references a Guardian article by George Monbiot, in which he details that due to its indisputable links to climate change there is a need to make extreme wealth extinct. ‘It’s only in the past couple of years that I’ve come to develop an understanding of how western imperialism is largely responsible for climate change – aggressive industrialisation of our economy, globalisation, the list goes on… and the pandemic has been a real wakeup call because we have been able to witness how the real economy actually connects.’ As millions of people around the world lost their jobs, a report by UBS found that between April and July 2020 billionaires increased their wealth by more than a quarter (27.5%) – ‘this is now a public health issue.’

‘A large part of what we’re doing at the Good Ancestor Movement is increasing political education for a strategic group of value driven wealth holders, who feel connected to these societal and global issues and want to do something different with their wealth as a consequence.’ Education around these topics is severely lacking across the board, often by design, and there is a need for people to have a basic understanding of how the economy works, how tax works, how the government redistributes money… Stephanie is at her most animated when she discusses her intentions to create this education by bringing people back into relationship with one another, creating an interconnectedness and a forum for individuals from different backgrounds to unite. The central motivation around the Good Ancestor Movement is to create a community and home for those who want to focus on a radically different way of redistributing their wealth, and that includes allowing space for a diverse set of people to educate one another on their personal, human, stories. The ones that shape our world views and inform our political and economic choices.

‘This is about more than just an accounting exercise, this is about the social contract.’

Find out more about Good Ancestor Movement here.

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