The Next 40

THE NEXT 40 YEARS

Few people have the foresight when starting out a business at 18 years of age to think about what its long-term legacy will be.

But then again, few people are like John Fitzgerald.

When John first created JLF Corporation in 1981 he was already thinking ahead – a hundred years ahead in fact. “When I started my first company, it was probably a pretty bold thought but It was very clear in my mind that we weren’t just going to be a company that might come and go or anything like that,” he said.

“It was going to grow and grow and grow and it was important to me that whatever we did it had longevity. It still needed to be relevant in 100 years time.”

John’s inclusive language is reflective of his attitude to the now 34 companies which make up the JLF Group.

From the very start it wasn’t just about John, it was about ‘we’. It was always going to be a team sport and John wanted to bring friends and family along for the ride.

“My philosophy has always been that the people who work within the company are like family as well and while I’m thrilled to have the next generation of Fitzgerald’s working in the company, everyone is treated as if they are part of a big extended clan,” he said.

Those family members, John’s daughter, Alex, head of Acquisitions in Victoria and South Australia as well as Special Projects, and his nephew, James, the Managing Director of JLF, are now well and truly entrenched in the family firm.

Joining the family business wasn’t something John pushed, but he said both Alex and James couldn’t help but become immersed in what they were doing.

“They would always have been involved in the business either passively or actively because they were always around it, but it was just a matter of time until they put their hand up to become a part of it,” he said.

“It’s great to have both Alex and James on board now and they are both well aware that they have been entrusted with a very important duty: to lead the business until it is time for the generation after them to take it on.

“I envisage that they and their children will be working with the children and grandchildren of our clients today.”

For Alex that’s a responsibility she takes seriously.

“Joining the family business wasn’t really front of mind for me until I was about 18 or 19,” she said.

“I had finished school and was trying to figure out what I wanted to do in the world. John had always invited me along

on business trips so I could see what he was doing and be a part of it, but it wasn’t until I was a little bit older that it started to make sense and those pieces of the puzzle fell into place.

“I remember being on a plane trip back from Melbourne, travelling with John – and I wasn’t working in the business yet – and he suggested I just give it a go for three months. That was nearly 10 years ago and I’ve been giving it a go since!”

Alex doesn’t feel the pressure of the responsibility to take the next level of JLF and Custodian clients on, she feels an enormous sense of pride. Pride in helping people achieve their dreams, pride in helping people become financially secure and pride in what John has done not just for clients but the community.

Anyone who meets John knows that what really drives him is his commitment to helping young people find their path – and the Toogoolawa School is a testament to his mission –helping boys who have been kicked out of mainstream schools find their way into society again.

John created the school with the help of clinical psychologists Ron and Suwanti Farmer in 1989 and since then it has helped thousands of boys aged from 8 to 15.

Continuing that commitment is something that John sees very much in Alex and James, who is already chair of the board of the school.

“The Toogoolawa school is a very important part of our why,” James said.

“And it’s important to not lose sight of that. Not everyone has an easy journey in life, so it is up to use to help those who don’t along the way.

At JLF I think one of the most important things we do is take the stress and worry away from owning real estate. Every day I see how that helps people and how we are helping them build their own legacy for the next generation.

John said 2020 and the beginning of the Covid pandemic reinforced many things at JLF. It showed him that both James and Alex were steady hands during tough times and it reinforced their key message to clients, that investing in land was what would help provide financial security for decades to come.

“Last year was an amazing and testing year for many reasons,” John said.

“James and Alex were both tested. James had to shut down some sections of the business which were no longer relevant and Alex had to operate out of the world’s most locked down city.

“It was a baptism of fire in so many ways for us, but it was also a real turning point, a moment when I realised this business was in good hands and they will carry that custodianship into the future.”

The past two years have helped cement the way forward for both Alex and James.

“More than anything now, I recognise that as a company we need to evolve,” Alex said.

“We need to ensure we stay relevant and the past 18 months have shown us how to do that. It’s not just about ensuring JLF continues to grow and thrive, but more importantly that our clients continue to grow and thrive. Without them we are nothing.

“We need to also ensure we take Toogoolawa along on the ride with us, it may have started as John’s dream but it has definitely evolved to be our ‘why’ as well.”

For James it’s about ensuring that they continue to help everyday Australians take control of their personal finances and set themselves up financially for the rest of their lives.

“Hopefully that will evolve into creating more multigenerational groups of Custodians, we have a few already but we’d like to see that carry on further. We want to continue to promote and have success helping all of these families who have put their trust in us.”

With sentiments like that John is confident that the next generation of Fitzgeralds have what it takes to carry forward the 100-year legacy that John had in mind when he started out as an 18-year-old.

Watch this space …

‘As you think, so you shall be’