John Parise - 70% Of Wealth Is Lost In The 3rd Generation | #189

The Meb Faber Show - Better Investing

The Idea Farm

Management, Business, Investing

4.8 • 978 Ratings

🗓️ 27 November 2019

⏱️ 68 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

In Episode 189 we welcome our guest, John Parise. John and Meb kick off the conversation with the idea of the family CFO and wealth planning. As John gained experience in financial planning, he investigated the family office model, and he consistently saw a lack of planning. That eventually led him to the foundations that helped him eventually form his firm, Copper Beech. Meb and John then cover to the process of what planning looks like at Copper Beech. John describes the interview, discovery process, and the types of conversations the firm has with families. They then get into some examples of the mechanics of what the planning process really looks like, and some methods to pay zero estate tax. The pair then shift to talking about teaching young generations to handle wealth. As the conversation winds down, John covers some of the major items people can consider to improve their planning outcomes. All this and more, in episode 189 including John’s most memorable investment. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Welcome to the Mebb Faver Show, where the focus is on helping you grow and preserve your wealth.
0:11.0	Join us as we discuss the craft of investing and
0:13.5	uncover new and profitable ideas all to help you grow wealthier and wiser.
0:17.2	Better investing starts here.
0:18.8	Met Faber is the co-founder and chief investment officer at Cambria Investment Management.
0:23.3	Did it industry regulations, he will not discuss any of Cambry's funds on this podcast.
0:27.2	All opinions expressed by podcast participants are solely their own opinions and do not reflect the opinion
0:31.1	of Cambria Investment Management or its affiliates.
0:33.4	For more information, visit Cambria Investments.com.
0:39.6	Welcome, podcast listeners.
0:40.7	We got a great show for you today.
0:42.3	Our guest is the founder of Copper Beach Financial Group
0:44.7	He's got over 30 years experience in planning wealth management his practice emphasizes the interplay between asset protection
0:51.2	tax efficiency and family governance that are critical
0:54.8	developing a holistic generational family wealth strategy.
0:58.2	Welcome to the show, John Pries.
1:00.2	Hey guys, how is everybody doing today?
1:02.2	Oh, it's wonderful. It's beautiful day in LA. John you're live from New Jersey outside of Philly.
1:08.0	Yeah, it's a little rainy here. Well, but it's okay. To be expected, it's great to have you.
1:13.2	Your focus and your firm's focus, you've been doing this for a while,
1:16.3	this concept of a family CFO.
1:20.5	Talk to me a little bit about what that means,
	...

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