Eleanor de Rusett serves as Director of Client Advisory at the London based multi-family office Hundle. An exhibition featuring 14 female collectors at the Hamptons Art Center inspired her to launch a unique initiative for the financial firm.
Hundle currently serves 14 UHNW families, providing comprehensive support across all aspects of wealth management, from estate planning to investments, art collections, and philanthropic goals. De Rusett, as Director of Client Advisory, oversees two significant initiatives at Hundle: «Women and Wealth» and «Art and Collectibles.‘
Hundle Art Collection: Juno Calypso, «Reconstituted Meat Slices», 2013 (Image: Hundle)
Focusing on Women's Needs
De Rusett spent nine and a half years at J. P. Morgan in London and Los Angeles. Coming from an artistic family, she engages in creative pursuits in her spare time. This passion led her to create an initiative specifically addressing the needs and interests of Hundle's female clients. Over the past decade, she identified two major issues in the industry: the inaccessibility of wealth management for women and the isolation that can accompany growing wealth.
Eleanor de Rusett (Image: Hundle)
Art as a Communication Tool
«It is crucial to understand the visions, values, concerns, and goals of the female family members, regardless of whether they are the financial decision-makers,» de Rusett emphasizes. These conversations often lead to discussions about art, which naturally bridge to further financial and planning matters. Inspired by the connection between art and wealth management, de Rusett is forming a group for female collectors, organizing art events and meetings to merge social and financial aspects.
Networking and Investment
The Hamptons exhibition celebrating 14 female art collectors was the catalyst for establishing this group. «The aim is to provide a pleasant, social setting where like-minded women can exchange ideas and network, while also having the opportunity to invest in art collectively,» de Rusett explains. This could involve supporting an emerging female artist or a women-led gallery.
Hundle Art Collection: Zemba Luzamba, «Rat Race »1, 2022 (Image: Hundle)
Investing with a Social Gesture
An example of Hundle's innovative investment strategy is its collaboration with HOPE93, an art advisory and project space founded by Aki Abiola, focused on spotlighting the work of historically underrepresented artists in the art world. «This route of investing allows a diversified approach to the art world, generating financial returns whilst also having the chance to make positive social impact», de Rusett explains.
Art Builds Trust
The wealth manager underscores that the goal is not just investments, but also building trust and relationships with female family members: «By combining art and wealth management, we create a platform that caters to both the financial and personal interests of our clients.»
Art by Sohelia Sokhanvari, «The Woman in the Mirror», 2021, Jeremy Deller, «Neon Henge», Pink, 2022 (Image: Hundle)
Art in the Office
The Hundle office itself showcases an art collection that frequently sparks conversations. «This collection serves as an excellent starting point for discussing finances with our clients,» de Rusett explains. Harinder Hundle, the company's founder, is a passionate art collector and well-connected in the art world. His collection is displayed in Hundle's office spaces, promoting dialogue about art and finance.
What if the Art Isn’t Appreciated?
One of the challenges Hundle faces is succession planning. «What if the next generation doesn't want the art collection or isn't interested in it?» de Rusett asks. «It's about finding a balance that preserves the legacy while accommodating the new generation's interests and styles.»
Bridging Generation
De Rusett highlights that these discussions often occur in the context of legacy planning. «Some families might have a traditional art collection, like Old Masters, but the next generation might not appreciate the style. This is where family governance comes into play. We need to find ways to connect the two worlds.»
Opening to Broader Networks
In conclusion, de Rusett emphasizes that the initiative is not limited to Hundle's clients. «The goal is to involve women from other networks as well, creating a broader community of female collectors. "This fosters exchange and mutual support, which is especially important in the somewhat isolated world of wealth.»
