{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Ep 100: Crafting a 25-year overnight success - Michael Heine","description":"In our milestone 100th episode, Matt Heine interviews his father and founder of Netwealth, Michael Heine, in a rare and wide-ranging conversation spanning decades of business lessons and life experience. Michael recounts how his father arrived in Australia as a stateless prisoner of war with nothing and built a global trading empire. From trading and media to funds management and eventually founding Netwealth, Michael\u2019s journey is packed with high-risk plays, hard-won insights, and moments of extraordinary resilience. This is a deeply personal and professional story about legacy, timing, pivoting when needed, and backing yourself\u2014even when no one else will. A must-listen for founders, advisers, and entrepreneurs alike. 00:01:12 \u2013 Celebrating 100 episodesMatt Heine reflects on launching Between Meetings eight years ago and introduces his father, Michael Heine, as the special guest for this milestone 100th episode. 00:02:25 \u2013 A family legacy of resilienceMichael shares the remarkable story of his father Walter, a Jewish refugee from Nazi Germany who built Australia\u2019s largest trading company after arriving as a prisoner of war with no money or contacts. 00:08:58 \u2013 Business at the dinner tableMichael recalls growing up in a household where business was ever-present. Walter lived for his work, and conversations often centred on deals, strategy, and growth. 00:12:57 \u2013 Dropping out of university and joining the businessMichael talks about not finishing his degree, starting work with his father, and quickly learning the value of real-world experience over theory. 00:17:12 \u2013 Chasing recurring revenueAfter years in the trading business, Michael explains why he sought businesses with consistent income streams, which eventually led to the founding of Netwealth. 00:24:45 \u2013 Selling Heine ManagementMichael details the tough decision to sell the business in 1999, the challenges of listed property trusts, and how the sale freed him to pursue new opportunities. 00:30:48 \u2013 The birth of NetwealthMichael discusses \u201cretiring\u201d for two weeks before launching Netwealth. He describes the early planning, modest goals, and lessons from past ventures that shaped the platform\u2019s strategy. 00:38:15 \u2013 Building tech from the ground upHe recounts early tech partnerships and why they chose to build their own front-end, emphasising the importance of owning the client experience and data. 00:43:12 \u2013 $25 million to first $1B FUAMichael shares the grit it took to reach Netwealth\u2019s first billion dollars in funds under administration. Despite early losses, they stayed focused on long-term vision and strong governance. 00:45:40 \u2013 Scaling a business the right wayHe reflects on the complexities of scaling, highlighting the need to pair creative leadership with strong financial oversight, and to evolve the team and systems as the company grows. 00:47:49 \u2013 The future of technologyMichael shares his excitement for AI and how he sees it transforming business efficiency. He encourages embracing technological change, not fearing it. 00:50:04 \u2013 Beyond NetwealthMichael touches on his continuing involvement in the business and his passion for strategic thinking, admitting that retirement never quite suited him. ","author_name":"Between Meetings with Matt Heine","author_url":"https:\/\/www.netwealth.com.au","html":"