Cultivating Good Financial Habits for Entrepreneurs

Money Tree Investing

Money Tree Investing Podcast

Stockmarket, Valuestocks, Investing, Finance, Passiveincome, Wealth, Business, Personalfinance

4.6 • 658 Ratings

🗓️ 17 May 2024

⏱️ 47 minutes

🔗️ Recording | iTunes | RSS

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Summary

Chad Willardson shares insights into how to he helps to encourage good financial habits for entrepreneurs. Chad shares his journey from Merrill Lynch to founding his own firm and sheds light on the rollercoaster ride of managing finances for entrepreneurs.

Chad highlights the value of cultivating good financial habits, no matter where you are on your wealth journey.

Today we discuss:

Chad's background, including nine years at Merrill Lynch and founding Pacific Capital in 2011
Chad's clientele, focusing on entrepreneurs with at least $10 million to invest
The unique financial needs and challenges of entrepreneurs
How entrepreneurs typically have a higher risk tolerance and unique approach to financial planning
The asset-rich but cash-poor nature of many entrepreneurs
The perpetual entrepreneurial mindset and generational wealth transfer
The importance of financial education and family planning to navigate wealth responsibly
Cultivating financial discipline and good habits at any stage of wealth accumulation

Today's Panelists:

Kirk Chisholm | Innovative Wealth
Barbara Friedberg | Barbara Friedberg Personal Finance
Phil Weiss | Apprise Wealth Management

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For more information, visit the show notes at https://moneytreepodcast.com/financial-habits-for-entrepreneurs-chad-willardson-608

Transcript

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0:00.0	Welcome to the Money Tree Investing Podcast.
0:04.0	Stock market, wealth, personal finance, value stocks, invest in your life.
0:10.0	Hello, the Smart Money Tree Podcast listeners, and welcome this week's show.
0:13.0	My name's Kurt Chisholm and I'll be your host.
0:15.0	So today, I'm interviewing Chad Willardson.
0:18.0	How are you doing you, Chad?
0:19.0	I'm doing great, thank you.
0:20.0	Chad, what do you tell us about your background before we begin?
0:23.8	I spent nine years at Merrill Lynch after getting a degree in economics.
0:27.2	I was in Merrill Lynch wealth management and decided to jump out of the corporate world,
0:33.1	leave the big Wall Street bank and become an independent fiduciary.
0:36.7	Started Pacific Capital in 2011 in
0:40.3	Southern California. Got clients all over the place, but we are a fiduciary family office,
0:45.6	serving entrepreneurs with at least 10 million to invest. I primarily, my role is really working
0:50.9	with the entrepreneurs, their spouses, their families. And we've got a lot of
0:55.4	smart, great people who are doing the investments, financial planning, estate planning, taxes,
0:59.5	all that stuff. So that's my background, been in the industry now for 22, 23 years. That's all I've
1:05.8	ever done. So I love it. I'm curious to find out more about like the entrepreneurs. So you deal with a lot
1:09.9	of entrepreneurs.
1:11.1	They have some, I don't want to say unique needs, but they're very different than probably
1:15.7	most people who are working in W2.
1:18.1	What's the life of the entrepreneur like?
	...

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