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Beverly Hills Wealth Manager: How the 1% Protect Their Money | Richard McWhorter
Description
Most people focus on making money. The wealthy focus on keeping it.
In this episode, Matt Haycox sits down with Richard McWhorter, managing partner at SRM Private Wealth in Beverly Hills, to break down what high net worth clients actually care about: wealth preservation, trust, tax strategy, estate planning, and the real-world psychology behind financial decisions. Richard manages $2.1B for 36 families, and has a specialist division working with athletes and musicians, where money mistakes are common and careers can end overnight.
They also go deep on networking and relationship-building: how Richard built his client base through small, consistent events (including a long-running poker game), and why trust and authenticity matter more than “being good at investing.”
Timestamps:
0:00 - Coming Up
0:57 - Intro
2:07 - How Do You Land Ultra-High-Net-Worth Clients?
4:13 - The Beverly Hills Poker Game: Networking That Actually Works
5:51 - From Clients to Families: How 36 Families Became 540 Accounts
7:14 - Why Would a Billionaire Need a Financial Advisor?
12:57 - The Wealth Preservation Mindset: Don't Lose It
15:36 - Generational Wealth
18:37 - Estate Planning and the Shirt Sleeves to Shirt Sleeves Problem
22:56 - Athletes and Musicians: When the Money Runs Out
29:49 - Taxes, Schemes and the Dangers of Bad Advice
31:59 - Investment Strategy: Singles, Doubles & the Accidental Home Run
35:30 - AI in Financial Advisory
37:50 - Final Thoughts & Advice
Follow Richard:
LinkedIn: https://www.linkedin.com/in/richard-mcwhorter/
SRM Private Wealth: srmprivatewealth.com
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Connect with Matt Haycox, No BS Business Podcast Host & 8-Figure Entrepreneur.
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