Show Notes
What does your bank actually do for your wealth, and what changes when you move to private wealth management? In Episode 18 of The Up Side, Eli Kirchmaier sits down with Myles Martin, Private Wealth Consultant at Up Financial to discuss what he learned from nearly a decade working at a major Canadian bank, why he made the move to private wealth management, and what Canadians should understand about building, protecting, and transferring wealth. From the limitations of traditional banking to the family conflicts that can arise during inheritance and estate planning, Eli and Myles explore the financial decisions that become increasingly important as your wealth grows. They also discuss the growing use of AI tools like ChatGPT and Claude for financial planning, why generic advice can overlook important Canadian tax considerations, and how social media can distort our perception of financial success. In this episode, you'll learn: Why Myles left traditional banking for private wealth management
The differences between a bank financial advisor and a private wealth manager
How investment risk and financial priorities change as you build wealth
Why preserving wealth requires a different approach than accumulating it
How inheritance, estate planning, and family business succession can create unexpected conflicts
Why personalized financial planning matters, especially for Canadians
The risks of relying on AI-generated financial plans
How social media can create unrealistic expectations about wealth
Why ongoing relationships with financial advisors matter
Whether you're approaching retirement, managing significant investments, navigating family wealth, or wondering whether your current financial advisor is the right fit, this conversation offers a closer look at what thoughtful wealth management involves. Learn more about Up Financial: upfinancial.ca/book Connect with Eli: @elithemoneyguy Connect with Myles Martin: @milesmoneystrategies Subscribe to The Up Side for conversations about Canadian wealth management, retirement planning, investing, tax strategies, and financial decisions that matter. #WealthManagement #FinancialPlanning #CanadianFinance
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In this listener Q&A episode, Eli Kirchmaier and Brandon Murphy answer real financial planning questions from Canadians.
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