{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Capability Amplifier","title":"Dana Cornell on How Wealthy Families Approach Financial Planning","html":"","width":"100%","height":180,"duration":2313,"description":"What happens when you reach a certain level of success and realize the financial strategies you've been using may no longer fit where you are today?\nIn this episode of Capability Amplifier, I sit down with Dana Cornell, founder of Cornell Capital Holdings, for a fascinating conversation about how successful business owners can think differently about taxes, investing, income, risk, and protecting what they've built.\n\nDana has seen both sides of the financial world.\nHe managed more than $1.4 billion at Morgan Stanley, served hundreds of clients, and eventually gained access to the advanced planning strategies being used with families at a very different level of wealth.\n\nWhat he saw changed the direction of his career.\nDana realized there was an enormous difference between traditional wealth management and the coordinated approach available to ultra-wealthy families. Eventually, that gap became big enough that he decided to leave and build something different.\n\nDana and I dug into what he learned behind the scenes, the mistakes successful founders often make with their own money, and why your financial strategy needs to evolve as your business and wealth become more complex.\n\nIn this episode, Dana and I break down:\nWhy Dana walked away from a $1.4 billion practice at Morgan Stanley?\nThe 1% advisory fee that may actually be costing you closer to 20%\nWhy do the ultra-wealthy keep most of their liquid capital out of stocks and bonds?\nWhat founders should understand about private and pre-IPO investing?\nWhy the tax planning on a business or real estate sale has to happen before you sell?\nThe risk most wealthy families overlook, and it isn't the market\nEveryone has a CPA, an attorney, and an advisor. Almost nobody has a quarterback\n\nOne of my biggest takeaways from this conversation is that financial complexity requires coordination.\n\nYou can have a great CPA, a great attorney, and a great financial advisor. But if nobody is looking at the entire picture and taking...","thumbnail_url":"https://img.transistorcdn.com/kgTYhn3YuQ0EJ2vxGE6ZcmPVPNNKsKrPb2sB109vVv8/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS9zaG93/LzIwNTA0LzE2NDcy/ODQ3MDgtYXJ0d29y/ay5qcGc.webp","thumbnail_width":300,"thumbnail_height":300}