Flashback Friday Ep 02 - Becoming The First Millionaire In Your Family

Do you want to stop working for money and start having money work for you? In this Flashback Friday Featured episode, guest Edmund Chien and Nicole Pendergrass talk all about how he built and managed a $70 million book of business for high-net-worth clients, what he’s learned from coaching and advising millionaires and what it takes to make your first million. All this and more!   Edmund Chien has over 15 years of experience managing money for high-net-worth investors, including serving as a senior partner of a private equity firm that managed ½ billion in assets. He is experienced in real estate syndications and was also a licensed stockbroker and life insurance advisor. In retirement, Edmund now focuses on coaching real estate syndicators in client relations. ________________________________ FREE Discovery call for The Microfamily Investing Accelerator  https://calendly.com/noirvest/microfamilymavericks ________________________________ [02:40 - 04:00] Who is Edmund Chien?  Starting off as a neophyte to pursue excellence Working as a professional in Broadway productions Enlisting in the military and becoming a boot camp instructor Learning how to invest my salary properly Reading about personal wealth and personal finance Becoming a full-fledged professional in the industry [05:00 - 07:00] Wealth Management Is Considered As Private Equity The main focus of the different types of investment brokers What is considered private equities? How Venture Capital differs from Private Equity [07:20 - 10:00] Private Equity Gives You A Lot More Control Downsides of public markets versus open markets The upsides of private equities Price to earnings ratios tend to be lower Buying Assets Privately [10:20 - 15:00] The Hardest Million To Make Is The First Million Coaching and advising Millionaires Surpassing your parent's income generation and collection of wealth Showing respect to your parents when giving advice Finding great mentors and great coaches to help you Key Quotes  “If you invest and the company fails, you can't foreclose on property. There are no bricks and wood there. And because there's no asset there. It's not considered private equity. It's considered a venture capitalist considered VC because there's very little collateral.” - Edmund Chien “Buy assets privately because you get it at a better price. I'm a value investor so that's my philosophy; I'd rather buy assets at a better price. In public stocks or real estate income trust, you can’t control that.” - Edmund Chien Connect with Edmund on LinkedIn https://www.linkedin.com/in/edmundchi... and Instagram https://www.instagram.com/edmund.chien/ Visit his website <a...