Host: Anthony Mlachnik (Senior Wealth Advisor, Annex Private Client)
Guest: Anna Franklin – Founder & Creative Director of Stonehouse Collective (Milwaukee/Wisconsin-based luxury interior design firm)
Anna’s Journey
- Grew up in small-town Wisconsin → studied Public Relations → moved to Chicago for event planning & major-gift fundraising (10 years).
- Met husband in Chicago, moved back to Wisconsin (Whitefish Bay, Milwaukee area) ~10 years ago to raise family (now 3 kids).
- After first child, rediscovered creative passion → accidentally fell into home staging → became “the stager of Milwaukee” → pivoted to full interior design during 2020/COVID.
- Not a formally trained designer; acts as creative director/entrepreneur.
- Grew Stonehouse Collective to 15 employees (5 full-time designers), opened first retail store in Shorewood in March 2023, and hit record revenue in 2025.
Key Themes & Insights on Wealthy Clients
- Two Types of Clients Today
- High-customization, unique, heirloom-quality (willing to pay $30k for a sofa).
- Want the “look” but at the lowest possible price (tariffs & cost pressures pushing this segment).
- Psychology of Spending
- Wealth does not equal willingness to spend on furniture/design.
- Some ultra-wealthy clients buy the $3k sofa because “they don’t care about furniture.”
- Some middle/upper-middle clients will stretch or max out credit for fully U.S.-made, 40-hands-touched heirloom pieces because that is what they value.
- It’s never about the dollar amount; it’s about personal values, legacy, memories, and emotional connection.
- Trends by DemographicYounger / Millennial / Liquidity-Event Wealth
- Full smart-home integration (Lutron, Sonos, automated showers, security, lighting scenes controlled by phone).
Wellness spas at home: cold plunges, saunas, steam, red-light therapy — all ideally in one integrated wellness room.
Hitting all five senses the moment they walk in (scent, sound, light temperature, etc.).
- Boomers / 60s–70s
- Surprisingly also adding wellness/spa elements (many now want saunas & cold plunges too).
- Grandkid-focused spaces (arcade rooms, integrated TV/gaming areas with sleek motion furniture instead of old dedicated theaters).
- Aging-in-place planning: wider doors, future elevator shafts, curbless showers.
- Strong aversion to bold 90s-style patterns/color that millennials are embracing (“grand-millennial” trend).
- Tech & Smart Homes
- Almost everything is now phone-controlled; wall panels and whole-house distributed audio are largely out.
- TVs hidden or pop-up, projectors still used, but giant TVs are cheap and ubiquitous.
- Some boomers initially resist phone control but warm up once they see it in action.
- Outdoor & Extended Living
- Big focus on indoor-outdoor flow, pool houses with saunas, outbuildings (elevated “she-sheds,” homeschool barns, wellness barns).
- Layered exterior lighting (down-lights, up-lights, feature lighting on stone/wood) is huge.
- Emerging & Fun Requests
- Flower rooms / cutting rooms (glass conservatory-style for arranging bouquets).
- Dog washes still popular but no longer novel.
- Lighting as “jewelry” of the house — heavy layering (picture lights, sconces, pin spots, etc.).
- Social Media & Pinterest Effect
- 97% of clients arrive with a Pinterest board or saved Instagram images.
- Pros: helps clients communicate when they lack design vocabulary.
- Cons: creates unrealistic expectations about cost, lead times, and customization (Amazon-effect).
- Anna actively discourages excessive scrolling and digs deep (“You say you love this photo — is it the lamp or the feeling?”).
Closing Message from Anna
- Emphasizes timeless, classic design with layers of trend so homes don’t need gutting every 5–10 years.
- Stonehouse Collective retail store in Shorewood, Milwaukee is open to the public.
- Instagram: @stonehousecollectiveco
Overall, the episode highlights how deeply personal luxury design is — wealth buys options, but values and life stage dictate what people actually spend money on and how they want their home to feel.
What is Wealthyist?
Wealthyist, the podcast that discusses the lifestyles, choices, and strategies of the wealthy. Each week, the Annex Private Client team talks to experts in a variety of areas to discuss trends and paths visited by people who have built or are in the process of building significant wealth.