A couple of years ago, Paul West, managing partner at Carson Wealth, saw a gap in the market to better support business owners and executives. As a one-time business owner who still sees himself as an entrepreneur, he realized the need for a team approach to address the complex money management requirements of this group.

Today, West, who has been ranked among Barron’s Top 100 Independent Wealth Advisors and as a Best-in-State Wealth Advisor by Forbes, works with Carson private clients (CEOs, executives and multigenerational families) to do just that. A big part of the strategy is helping business owners transition to life outside the business.

“When a business owner decides to sell their company, everybody asks, ‘How much money are you going to get?’” West says. “We ask, ‘What are you going to do with it and how does that make you feel? What good are you going to get out of it?’ That’s really why entrepreneurs build businesses: to be good stewards.”

In today’s episode, Paul talks to Jamie about his earliest money lessons, his path to financial services and Carson, what it takes to be a good leader (“a willingness to listen and understand where people are coming from”), the difference between investment advisors and strategists, what financial freedom means to him and the legacy he is creating.

Key Takeaways

  • Entrepreneurs build businesses to have an impact. They want to be good stewards of their wealth. This takes a team approach that goes beyond financial planning and investment advice.
  • CEOs have an identity problem. They see themselves as business owners almost exclusively. When they retire, that identity is gone. They need help to plan their next chapter.
  • The best advisors of the future will be better educators and strategists.

Quote

“I have an amazing opportunity in my role to influence people to help them be good stewards with their money. I am also Chair of Economic Development for the city of Omaha and super passionate about Omaha and Nebraska. I want to help influence the growth of the city and the state.” – Paul West

Links

Carson is committed to helping clients define and find financial freedom. Schedule a consultation to learn how Carson Coaching can help you help your clients and grow your business.

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