Navigating Wealth

Long Angle is a private, vetted global community of accomplished entrepreneurs, executives, and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities, and ambitions.

Hosted by the founders of the Long Angle community, Navigating Wealth is a podcast for founders, executives, and investor operators who have built significant wealth. Each episode features a guest with an unusual career journey and deep expertise across some aspect of the economy, investing, family, health, or lifestyle.

In this episode, Tad Fallows, Sriram Gollapalli, and Matt Shechtman discuss the inaugural 2025 Long Angle Professional Services Benchmarking Survey. The hosts analyze spending patterns and satisfaction levels across financial services, personal services, and family-related services for individuals with $5M to $200M in net worth.

Key Topics Covered:

• Why 20% of high net worth individuals don't use CPAs and 42% are considering switching

• The surprising dissatisfaction gap between personal trainers (9.3/10) and personal assistants (6.7/10)

• AUM vs. fee-based wealth management models and why satisfaction varies dramatically

• Estate planning costs ranging from $9K to $35K for similar services

• The challenge of finding quality personal trainers and virtual vs. in-person service delivery

• Whether the future lies in à la carte services or bundled family office solutions

• Public vs. private school decisions among wealthy families (nearly a 50/50 split)

Links:

• 2025 Long Angle Professional Services Survey: https://www.longangle.com/research/high-net-worth-professional-services

• Long Angle Community: https://www.longangle.com/apply-now-nw

• Subscribe to Navigating Wealth's Weekly Newsletter: https://www.longangle.com/navigating-wealth-podcast

Chapters: 

00:00 - Welcome to Navigating Wealth: Professional Services Survey

02:27 - CPAs & Tax Preparation

15:07 - Wealth Management: The AUM Pricing Dilemma 

24:28 - The Family Office Satisfaction Model

25:24 - Personal Trainers: Highest Satisfaction at 9.3/10

25:48 - Personal Assistants: The Low Satisfaction Problem

29:08 - What Makes Executive Assistants Valuable 

31:01 - Finding Quality Personal Services 

37:44 - Estate Planning 

38:41 - The Estate Attorney Search & Price Variance 

41:14 - Why Estate Planning is So Hard To Evaluate 

42:01 - Key Takeaways & Next Steps 

#WealthManagement #HighNetWorth #FinancialPlanning #EstatePlanning #TaxStrategy #WealthAdvisor #UHNW #FamilyOffice #FinancialAdvisor #CPATax #WealthBuilder #InvestmentStrategy #PrivateWealth #FinancialIndependence #EntrepreneurLife #FounderLife #WealthCreation #FinancialServices #TaxPlanning #PersonalFinance

Long Angle is a private, vetted global community of accomplished entrepreneurs, executives, and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities, and ambitions.

Hosted by the founders of the Long Angle community, Navigating Wealth is a podcast for founders, executives, and investor operators who have built significant wealth. Each episode features a guest with an unusual career journey and deep expertise across some aspect of the economy, investing, family, health, or lifestyle.

Today we’re thrilled to welcome David Gardner. He is the Co-Founder of The Motley Fool, host of the Rule Breaker Investing podcast, Chairman of The Motley Fool Foundation, and author of the just-released book Rule Breaker Investing.

Key Topics Covered:
• The 4 hidden valuation factors that drive long-term returns but don't appear in financial statements: CEO quality, brand strength, innovation capability, and corporate culture.
• Why "overvalued" is often a buy signal—and how the best companies always look expensive because traditional PE ratios miss part of the equation.
• The "losing to win" philosophy: Why David picks more bad stocks than most people he knows, but his winners (like Tesla up 100x) more than compensate for his 50%+ losers.
• Market timing vs. buy discipline: Why David stayed fully invested through the dot-com crash, the 2008 financial crisis, and COVID
• The sleep number concept: What percentage of your portfolio you'd allow a single stock to become and still sleep at night—and why David's is 50%+.
• Growth vs. Value investing: Why David rejects these categories entirely and focuses on "excellence" instead, looking for top dogs and first movers in important emerging industries.
• What David is buying today and why he's comfortable with stocks the market considers "the most overvalued of all time."
• Private markets and IPO timing: Why David rarely buys at IPOs and prefers lesser-known public companies
• The role of macro analysis: Why David agrees with Warren Buffett that "forming macro opinions or listening to market predictions is a waste of time" and focuses on bottoms-up company analysis instead.

Links:
• Apply to become a Long Angle member - https://www.longangle.com/apply-now-nw
• Subscribe to get notified when we release new episodes: https://www.longangle.com/navigating-wealth-podcast
• Rule Breaker Investing – David Gardner's book RuleBreaker Investing.com – • David's framework and resources Fool.com – The Motley Fool's investment services 
• @DavidGFool – David on Twitter/X
• Download Long Angle 2025 Professional Services Report - https://www.longangle.com/research/high-net-worth-professional-services

Chapters:
0:00 - 09:33 - Which Investment Game Are You Playing?
09:33 - 13:02- By Low / Sell High Philosophy & Compounding Returns, 
13:02 - 15:55 - Gardner Hype Cycle, Nvidia & Rule Breakers
15:55 - 17:21 - The Snap & Cola Tests
17:21 - 33:35 - How to Value Companies: CEOs, Brands, Innovation & Culture
33:35 - 38:20 - Accessing Private Markets & Staying Private Vs. Going Public
38:30 - 44:03 - Investing Signals Vs. Noise & The Lifecycle of Companies
44:03 - 49:28 - The Bottoms Up Investing Approach
49:28 - The Motley Fool Methodology (Indices, Mutual Funds, Sleep Number)

Long Angle is a private, vetted global community of accomplished entrepreneurs, executives, and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities, and ambitions.

Hosted by the founders of the Long Angle community, Navigating Wealth is a podcast for founders, executives, and investor operators who have built significant wealth. Each episode features a guest with an unusual career journey and deep expertise across some aspect of the economy, investing, family, health, or lifestyle.

Today's guest is Michael Horn, a leading education strategist, author, and researcher whose work focuses on how innovation can reshape learning outcomes. He has written extensively on technology in education, is the co-author of several books on the future of learning and workforce development, including "Job Moves: 9 Steps for Making Progress in Your Career", and publishes "The Future of Education" on Substack. Michael regularly advises schools, districts, and organizations navigating the intersection of pedagogy, technology, and workforce preparation.

Key Topics Covered:
• Why “wait until eighth” matters—and how Michael’s family balances screen access, iPads, and zero-phone policies while still allowing free play, neighborhood exploration, and responsible independence for their 11-year-old twins.
• A staged model for introducing screens to kids, from interactive family-mediated use for young children to structured autonomy with clear household limits as they age.
• How boredom can be a developmental advantage, fostering creativity and resilience, and why Michael sees it as a “privilege” rather than a problem to eliminate.
• The tension between social belonging and device restrictions, including how group texts, after-school coordination, and school norms influence when kids need communication tools.
• Why school-wide phone bans (bell-to-bell vs. full restrictions) are rising nationwide, and the nuanced trade-offs schools face enforcing them.
• Michael’s critique of how ed-tech was deployed during COVID, and why simply layering technology on top of the traditional class model rarely produces meaningful learning gains.
• A deeper look at experiential learning models like Alpha School, Acton Academy, and Summit Public Schools, and why mastery-based, project-driven structures can outperform conventional pacing.
• How schools should rethink AI—not as “banned technology” but as a tool for targeted skill development, and why academic integrity rules will need to evolve alongside LLM use.
• What the future of early-career work looks like in an AI-driven economy, including why entry-level roles are most vulnerable and why teens and college students must get real work experience far earlier.

Links:
• Apply to become a Long Angle member - https://www.longangle.com/apply-now-nw
• Subscribe to get notified when we release new episodes: https://www.longangle.com/navigating-wealth-podcast
• Download Long Angle 2025 Professional Services Report - https://www.longangle.com/research/high-net-worth-professional-services

Chapters:
00:00 - Introduction
02:10 - Debate on Screens, Gaming & Kids
08:06 - Why “Wait Until 8th Grade” Works
08:51 - Boredom Is a Superpower
12:57 - Inside the New School Phone Bans
20:39 - Alpha Schools, AI & The Future of Education
26:40 - Why Teens Need Real Work Sooner
46:59 - The Care Economy & Pursuing Passions
48:31- Disposeable Income & Quality of Life
50:15 - Social Dynamics in the School System
53:21 - The Purpose of College Today
01:00 - Where to Find More from Michael Horn

Long Angle is a private, vetted global community of accomplished entrepreneurs, executives, and professionals who have reached meaningful financial milestones and want to navigate wealth with peers who understand their challenges, opportunities, responsibilities, and ambitions.

Apply to become a Long Angle member - https://www.longangle.com/apply-now-nw

Hosted by the founders of the Long Angle community, Navigating Wealth is a podcast for founders, executives, and investor operators who have built significant wealth. Each episode features a guest with an unusual career journey and deep subject matter expertise to share fresh, candid perspectives across some aspect of the economy, investing, family, health, or lifestyle. 

Today’s guest is Daniel Altman, an economist, founder and bestselling author. He's a Harvard-trained PhD who writes the High Yield Economics newsletter and has contributed to The New York Times, Forbes and The Economist. Dan is a founding investor in Calgary Wild FC.

Key Topics Covered:

• How commission structures create principal–agent problems in real estate and the strategies Dan uses to negotiate rebates and align incentives
• The economics behind women’s sports, why live content is “the emperor,” and how relatability drives the growth of leagues like Canadian women’s soccer
• Inside the business model of sports investing, including promotion dynamics in European soccer and where MLS valuations are today
• Lessons from Dan’s years running analytics inside professional soccer clubs and identifying undervalued opportunities across global soccer markets
• What generative AI will—and won’t—disrupt in the labor market, and why Dan believes many service jobs remain insulated
• How a shrinking labor force, new tariffs, and weak training systems could create another politically destabilizing wave of worker displacement
• The parallels between today’s U.S. economy and Argentina’s recent Peronist era, and why high debt-to-GDP ratios are fueling inflation fears
• Why foreign direct investment is gaining relevance, the countries currently offering the strongest growth-adjusted risk profiles, and how currency depreciation reshapes returns
• Dan’s outlook on the U.S. dollar, why even German bonds outperformed this year, and what a depreciating currency means for high-net-worth Americans

Links:
• Subscribe to get notified when we release new episodes: https://www.longangle.com/navigating-wealth-podcast
• Download Long Angle 2025 Professional Services Report - https://www.longangle.com/research/high-net-worth-professional-services

Chapters:
00:00 - Introduction
02:15 - Real Estate Commissions 
12:30 - Career Journey
18:45 - Sports Investing 
28:20 - Lessons from Instawork and Labor Market Disruption
35:10 - Generative AI's Impact on White-Collar vs Blue-Collar Jobs
42:30 - The Baseline Profitability Index
48:50 - Currency Devaluation, Gold, and Portfolio Diversification
55:40 - Follow Daniel Altman