Beverly Hills Wealth Manager: How the 1% Protect Their Money | Richard McWhorter

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 Up0:57 - Intro2:07 - How Do You Land Ultra-High-Net-Worth Clients?4:13 - The Beverly Hills Poker Game: Networking That Actually Works5:51 - From Clients to Families: How 36 Families Became 540 Accounts7:14 - Why Would a Billionaire Need a Financial Advisor?12:57 - The Wealth Preservation Mindset: Don't Lose It15:36 - Generational Wealth18:37 - Estate Planning and the Shirt Sleeves to Shirt Sleeves Problem22:56 - Athletes and Musicians: When the Money Runs Out29:49 - Taxes, Schemes and the Dangers of Bad Advice31:59 - Investment Strategy: Singles, Doubles & the Accidental Home Run35:30 - AI in Financial Advisory37:50 - Final Thoughts & AdviceFollow Richard: LinkedIn: https://www.linkedin.com/in/richard-mcwhorter/SRM Private Wealth: srmprivatewealth.com========================Connect with Matt Haycox, No BS Business Podcast Host & 8-Figure Entrepreneur.I’m Matt Haycox, entrepreneur, investor, and your straight-talking guide to building a business that actually works. I’ve raised over £750M, built (and rebuilt) 8-figure companies, and learned the hard way what it really takes to win.On No Bollocks with Matt Haycox, I cut through the bollocks to bring you raw conversations with 7–8 figure founders, investors, and experts who’ve been there, done it, and got the scars to prove it. No hype, no theory, just actionable strategies you can use today to start, grow, and scale your business.Whether you’re stuck in your 9–5, building your side hustle, or trying to hit your first £100k month, this is your go-to podcast for entrepreneur tips, startup growth strategies, raising capital, building a personal brand, and avoiding the costly mistakes most founders make.📩 Get Matt’s free business newsletter for weekly strategies, mindset shifts, and behind-the-scenes lessons → https://nobollockswithmatthaycox.beehiiv.com/subscribe▶ Instagram – https://www.instagram.com/thematthaycox/ ▶ YouTube – No Bollocks Podcast - YouTube ▶ LinkedIn – https://www.linkedi...