Optimizing Your Financial World - Episode 31 (Should You Have a Family Bank?)
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Optimizing Your Financial World - Episode 31 (Should You Have a Family Bank?)
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Narrated by:
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About this listen
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