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:

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