Rethinking Wealth Management: The Shift from Stock Picking to Comprehensive Financial Planning

Thinking about selling your company? 24 founders told us what really happens after the wire hits. — joinhampton.com/exit-report

Rob Townsend says you’re wrong about financial advisors… mostly. And he’s built an 8-figure firm to prove it.

Here’s what we talk about:

• Why $3M liquid is Rob’s version of “f*** you money”
• How he went from $0 to 8 figures by modernizing financial planning
• Why the old guard of wealth management is failing founders
• What most people get wrong about index funds
• The simple investing mistake that wipes out 44% of stocks
• Why the happiest clients aren’t the richest ones
• How sabbaticals change Rob’s life (and business) every time
• His full portfolio: Dimensional Funds + a little Bitcoin
• The real reason private deals feel better than they perform
• The toxic mindset that plagues people with $25M+ net worth

Cool Links:

• Hampton https://www.joinhampton.com/
• Lower Street https://www.lowerstreet.co/
  
  

Sponsors:

• The best phone system for teams at http://www.openphone.com/moneywise
• Achieve your dream body with https://www.dailybodycoach.com/moneywise

Chapters:

• The Financial Advisor Debate (00:00)
• Rob’s Personal Money Story (00:43)
• Growing Up & Early Influences (01:53)
• Lessons from Rob’s Uncle (05:39)
• Breaking into Wealth Management (06:31)
• Mistakes in Investing & Learning the Basics (09:01)
• The Case for Financial Planning (14:15)
• Building a Modern Wealth Firm (15:26)
• The Defense of Financial Advisors (19:14)
• Psychology of Wealth & Happiness (37:53)
• Final Thoughts: Money as a Tool for Life (45:53)

This podcast is a ridiculous concept: high-net-worth people reveal their personal finances. Inspired by real conversations happening in the Hampton community.

Your Host: Harry Morton

• Founder of Lower Street, a podcast production company helping brands launch and grow top-tier podcasts.
• Co-parents a cow named Eliza.