Optimizing Your Financial World

Hosted by Mark Wade

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Mar 2024

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About the show

Welcome to Optimizing Your Financial World, where we tackle an array of financial strategies and wealth management topics to help better position you, your family, or your business for a better future. Each episode features Mark Wade, President of Echelon Family Office, who brings over four decades worth of experience in wealth management and investment planning to the show. Mark regularly works with affluent families and entrepreneurs to help better position their portfolios given their personal and professional goals. Listen as Mark explores a new financial topic each episode and offers guidance on navigating these complex circumstances. At the end of the day, it's not about how many assets you have or how much income you create, it's about how much you get to keep! So sit back, relax, and allow Mark to shed some light on countless financial strategies and his methodologies for helping four decades worth of clients optimize their financial world.

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36 recent

March 15, 202416 min

Optimizing Your Financial World - Episode 36 (Four Ways to Ease the Tax Bite When Selling Your Business)

Selling a business that you’ve worked to build for years or decades comes with an enormous number of considerations—not the least of which is easing the tax burden that accompanies a big sale. On the latest episode of Optimizing Your Financial World, we’re looking at four ways business owners who sell their companies might mitigate taxes. Let’s dive in! Chapters: 0:00 - Introduction and overview on the topic of the day 1:23 - Tax-related issues are top-of-mind concerns for business owners 2:51 - Transferring your assets regularly over time 4:35 - Selling your business through an installment sale approach 5:51 - The risks associated with an installment sale approach 7:58 - Opportunity Zones and how a business owner can leverage these when selling a business 9:52 - Charitable remainder trusts can be a great solution 11:47 - Addressing the income component with a charitable remainder trust 13:33 - Which of these strategies makes the most sense for you? 15:10 - How to get in touch with Mark and his team to discuss this futher 16:05 - Closing remarks

February 23, 202417 min

Optimizing Your Financial World - Episode 35 (What Type of Buyer Should You Sell Your Company To?)

If you’re an entrepreneur, the idea of selling your business may have crossed your mind more than once. If you ultimately decide to sell your business, you’ll likely encounter two main types of buyers: financial and strategic. It’s a good idea to consider which type of buyer is the right one for you and your company. On the latest installment of Optimizing Your Financial World, we’re exploring how these two categories of buyers could play an important part in how much you get for your company! Chapters: 0:00 - Introduction and overview on the topic of the day 1:31 - What can a entrepreneur expect when encountering a financial buyer 3:26 - Where the seller fits into the financial buyer's vision for the sale of the company 5:26 - Where financial buyers come from 7:01 - How a strategic buyer approaches the acquisition of a company 8:58 - A strategic buyer is looking into the greater value being created beyond the sale 11:18 - The types of strategic buyers 12:36 - How an entrepreneur can decide which type of buyer would be best for them 14:14 - Advice for navigating deals with strategic buyers 15:37 - How you can get in touch with Mark and his team 16:19 - Closing remarks

January 22, 202424 min

Optimizing Your Financial World - Episode 34 (Six Big In-Retirement Money Mistakes and How to Avoid Them)

Even if you’ve done excellent planning for your golden years, it’s possible to make mistakes once you’re in retirement that can prove to be costly. On the latest episode of Optimizing Your Financial World, we’re examining some of the big mistakes that retirees tend to make along with potential solutions and, even better, ways to avoid making them in the first place. Chapters: 0:00 - Introduction and overview on the topic of the day 1:31 - Many people aren't aware of the financial risks that exist after they retire 3:41 - The common mistake of overspending 7:05 - Avoiding 'money talks' with family members 9:57 - Using the 'wrong' withdrawal strategy for income 12:53 - Stop making investing your part-time hobby 15:36 - Being aware of the different scamming techniques out there 18:01 - How to combat scammers in today's day and age 20:55 - Just because you enter retirement, doesn't mean you should enter auto-pilot 22:57 - How to get in touch with Mark and his team 24:03 - Closing remarks

December 18, 202325 min

Optimizing Your Financial World - Episode 33 (What are Your Biggest Financial Concerns?)

We all have financial concerns of some sort or another. On the latest episode of Optimizing Your Financial World, we're taking a closer look at some of the key concerns shared by many affluent individuals and families today. How many of these concerns are on your own list of issues to address? Chapters: 0:00 - Introduction and overview on the topic of the day 1:35 - Managing your wealth is like managing your health 3:10 - Preserving your wealth over the course of your lifetime 6:16 - Affluent people aren't always as "all set" as you would think 8:34 - The enhancement of wealth over time 10:45 - Taxes can create questions and uncertainty 13:08 - Estate planning is a crucial concern of the affluent 15:52 - Asset protection and guarding your wealth is a top concern of the affluent 18:08 - The charitable side of wealth planning 20:34 - How to get in touch with Mark and his team 24:24 - Closing remarks

November 28, 202326 min

Optimizing Your Financial World - Episode 32 (When Financial Uncertainty Rears its Ugly Head)

We can be blindsided at any time by bad news. Perhaps it's a death, a job loss, or a natural disaster? Either way, these difficult life events make it hard to know whether we’re still on solid financial ground. In the latest installment of Optimizing Your Financial World, we’re taking a closer look at smart ways to regain much-needed clarity if you’re faced with major uncertainty, as well as steps you can take if you need to get back on track. Chapters: 0:00 - Introduction and overview on the topic of the day 1:47 - We're not immune from challenges and stressful events 4:09 - The first move someone can make when experiencing sudden shock 6:35 - Developing an in-depth assessment of a client's unique situation 9:42 - Examining the existing financial strategies currently being leveraged 12:15 - Are most people protected in the event of a sudden challenge in their life? 14:30 - Mark's advice for staying calm when faced with stress and a loss of control 18:42 - How Mark's team navigates negative situations when an assessment reveals something bad 22:07 - The bottomline and key takeaways 24:17 - How to get in touch with Mark and his team 25:21 - Closing remarks Connect with Mark Wade: Website LinkedIn

October 30, 202321 min

Optimizing Your Financial World - Episode 31 (Should You Have a Family Bank?)

Family banks are a tool that some very wealthy families use for a number of reasons, and they’re increasingly being adopted by more and more families across the net worth spectrum. On the latest installment of Optimizing Your Financial World, we’re looking at whether family banks could be a smart move for you! Chapters: 0:00 - Introduction and overview on the topic of the day 1:23 - What is a Family Bank? 2:36 - The types of initiatives that Family Banks fund 4:26 - How a Family Bank can help build financial responsibility of a family member 5:49 - A Family Bank can also assist with a business-building desire 8:28 - Why Family Banks need to be formal in nature 11:21 - Family Banks should be very tailored to a given family's needs and goals 13:43 - Family Banks are not only reserved for those with significant assets 16:34 - Leverage a team of professionals to assist in running your Family Bank 19:45 - How to get in touch with Mark and discuss the topic further 20:30 - Closing remarks Connect with Mark Wade: Website LinkedIn

September 29, 202318 min

Optimizing Your Financial World - Episode 30 (Want to Win in Negotiations? You'll Need These Three Tools!)

On the latest installment of Optimizing Your Financial World, we're discussing how you can become a savvy negotiator, which is a skill that comes in handy both professionally and personally. Highly successful self-made multimillionaires, high-caliber professionals and other high achievers are typically extremely successful negotiators. On this episode, we explore what they say and do get what they want when dealing with other people and how we all can take a page from their playbook. Timecodes: 0:06 - Introduction and overview on the topic of the day 1:45 - The habits of the most successful negotiators 4:00 - The foundation of a smart approach towards negotiating 5:38 - A win-win negotiation isn't always possible 6:41 - You need to have a deep understanding of the issues at hand 8:18 - "People smarts" 11:27 - How to enhance your "people smarts" over time 13:30 - It's important to understand the desires of the people you're negotiating with 14:00 - Look at deals your counter-parties have completed in the past 16:40 - How to get in touch with Mark and his team 17:44 - Closing remarks Connect with Mark Wade: Website LinkedIn

September 9, 202319 min

Optimizing Your Financial World - Episode 29 (A Super Rich Best Practice That Can Benefit You Too!)

One of the smartest financial moves that individuals and families can make is to learn what strategies are being used by people who are wealthier than they are. Primarily, this is done to see if they could benefit by adopting those same habits and best practices. On the latest episode of Optimizing Your Financial World, we're discussing one extremely valuable tool that the wealthy regularly use called a stress test. This process is leveraged for seeing how well positioned, financially, you really are! This episode is packed with some helpful takeaways for your own financial world. Let's get started! Timecodes: 0:06 - Introduction and overview on the topic of the day 1:40 - What is a stress test? 4:13 - Why stress testing is being used by extremely wealth people 6:00 - Stress testing isn't reserved only for very wealthy people 8:43 - There tend to be more financial opportunities uncovered during a stress test 12:12 - Why there tend to be more issues with wealth plans that aren't stress testing regularly 13:38 - Stress testing can be an eye-opening experience 14:56 - The construction company analogy 16:30 - The signs and signals you should be on the lookout for 17:30 - How to get in touch with Mark and his team 18:35 - Closing remarks Connect with Mark Wade: Website LinkedIn

August 21, 202316 min

Optimizing Your Financial World - Episode 28 (Inheritors and the Quest for Legitimacy)

Believe it or not, it’s not always easy to inherit significant wealth. Many inheritors feel tremendous pressure to prove that they deserve the money and that pressure can lead to great things or big problems, depending on how well they navigate the situation. On the latest episode of Optimizing Your Financial World, we’ll explore ways that inheritors can feel more validated and comfortable with wealth. Timecodes: 0:06 - Introduction and overview on the topic of the day 1:40 - Inheriting significant wealth can present challenges to those beneficiaries 4:08 - There are two categories of inheritors 5:54 - Inheritors seeking validation and legitimacy 7:08 - The issue with inheritors seeking out validation 9:28 - Smart ways inheritors can go about achieving that level of validation 10:53 - What if an inheritor isn't interested in the family business? 12:58 - Inheritors need to find what matters most to them 15:06 - How to get in touch with Mark and his team 16:18 - Closing remarks Connect with Mark Wade: Website LinkedIn

July 28, 202322 min

Optimizing Your Financial World - Episode 27 (Do You Know Your High-Net-Worth Personality?)

We all have various personality traits. Some of us are introverts while others are extroverts, for example. But did you know you also have a wealth personality and that it can have a big impact as you pursue your financial goals? On the latest episode of Optimizing Your Financial World, we’re examining the topic of high net worth personalities — how to identify yours, and how you can put it to work as you seek to make smart decisions about your wealth. Timecodes: 0:06 - Introduction and overview on the topic of the day 1:58 - The how and why behind people's attitudes about money 3:10 - Your wealth personality should match your wealth manager's 5:00 - The most popular wealth personalities out there 6:51 - The more nuanced types of wealth personalities 9:50 - The benefits of working with a wealth manager that shares your wealth personality 12:23 - How you can figure out your wealth personality 16:36 - How involved do you want to be in your wealth planning matters? 18:28 - Can you have a mixture of these wealth personalities? 20:14 - How to get in touch with Mark and his team 21:31 - Closing remarks Connect with Mark Wade: Website LinkedIn