Tag: Financial Advisors
Celebrity Estates: First-Generation Wealth with George Stefanou

Celebrity Estates: First-Generation Wealth with George Stefanou

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Leon Spinks shocked the world in 1978 when, in just his eighth professional fight, he defeated Muhammad Ali to become the undisputed heavyweight champion, a victory still regarded as one of boxing’s greatest upsets. Yet, despite his early success and multimillion-dollar earnings, financial missteps and the long-term effects of brain injuries would take a heavy toll.

At his lowest point, Spinks worked as a janitor and fast-food worker in Nebraska. But with the unwavering support of his wife Brenda, he eventually found peace and stability in Las Vegas, where he remained a cherished figure in the boxing community until his death from prostate cancer at age 67.

Join WealthManagement.com Senior Editor David Lenok as he sits down with advisor and author George Stefanou for an insightful conversation on the unique estate planning challenges faced by first-generation millionaires.

Together, they explore the emotional complexities and generational tensions that arise when “old country” values meet modern American dreams—and how advisors can help families navigate the delicate balance between legacy, lifestyle, and long-term stewardship.

George shares insights into:

  • Challenges faced by first-generation millionaires
  • The emotional side of estate planning and the importance of family conversations
  • How heirs can avoid a ‘windfall mentality’ 
  • Strategies for fostering family cohesion and legacy
  • The expanded role of advisors, including the need for increased financial literacy
  • And more

Resources:

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About Our Guest:

George is a first-generation Greek-American and a 2023 & 2024 Forbes Best-in-State Top Next-Gen Wealth Advisor, serving as the financial guru behind “Two-Comma Wealth.” As a University of Central Florida alumnus and avid football fan, George brings a unique perspective to the world of personal finance.

Alongside his roles as a devoted husband to Kristin and father to Ella and Aubrey, George is a CERTIFIED FINANCIAL PLANNER™ professional who also holds the following advanced credentials: Certified Exit Planning Advisor (CEPA®), Certified Private Wealth Advisor® (CPWA®), Accredited Asset Management Specialist℠ (AAMS®), Chartered Retirement Plans Specialist℠ (CRPS®) and Chartered Retirement Planning Counselor℠ (CRPC®). Drawing on over 15 years of experience and thousands of diverse client interactions, George has developed a talent for humanizing finance, helping clients navigate the complexities of wealth management while empowering both investors and advisors.
68. Conrad Hilton and Advising First Generation Wealth Creators

68. Conrad Hilton and Advising First Generation Wealth Creators

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Conrad Hilton got his start in hospitality at his family’s general store in the New Mexico Territory. Years later, he established the largest hotel chain in the world, Hilton Hotels. After his death, Conrad left much of his estate to the Conrad Hilton Foundation — until his son decided to contest the will.

In this episode, David Lenok is joined by David Bokman, Managing Director and Head of Family Office Resource at Morgan Stanley Wealth Management, and Andrea Levine-Sanft, Managing Director and Co-Head of the Wealth and Estate Planning Strategy, in discussing first generation wealth management in comparison to inherited wealth.

David and Andrea discusses:

  • What makes financial planning for first generation wealth creators unique;
  • How generational wealth is passed down;
  • The major problems in creating a financial plan for first generational wealth;
  • The importance of communication between financial professionals;
  • And more.

Connect with Andrea Levine-Sanft:

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About Our Guests:

David Bokman is a Managing Director and the Head of Family Office Resources for Morgan Stanley Wealth Management. Family Office Resources provides ultra high net worth clients a virtual family office experience, with world-class, comprehensive services including family governance and wealth education, philanthropy, estate planning, trust services, single family office advisory and lifestyle advisory.

Andrea Levine-Sanft is Managing Director and Co-Head of the Wealth and Estate Planning Strategy.  Andrea was formerly an Estate Planning Strategist in Morgan Stanley’s Private Wealth Management Division. Andrea advised Morgan Stanley’s ultra high net worth clients and their advisors on complex gift, estate and income tax planning matters.