Building Wealth Beyond the Balance Sheet (AUDIO)

In this episode of Fractional Firepower, host Kyle Ancelin sits down with Mike Prado, Partner and Portfolio Manager at Hillside Wealth Management, to unpack what true wealth management really looks like for business owners. From separating personal and corporate finances to preparing for an exit years in advance, Mike shares practical strategies that go far beyond traditional investment advice. They discuss the psychology of money, why time is your biggest ally, and the importance of having your business “ready for sale” even if you never plan to sell it. Guest Introduction: Mike Prado is a Partner and Portfolio Manager at Hillside Wealth Management, where he helps business owners structure their finances for long-term success. With over two decades in the wealth management industry, Mike combines deep technical expertise with a human approach—focusing on joy, purpose, and financial clarity. His work bridges investment strategy with life planning, ensuring clients know their numbers and live their values.

 

Key Takeaways:

• Business owners must separate personal and corporate finances to create real clarity.
• Start exit planning early—the best deals and tax treatments require years of preparation.
• A solid financial plan begins with knowing your numbers—what you have, where it is, and where you’re headed.
• True wealth management blends portfolio performance and life planning, not one without the other.
• Keep investing simple: own great businesses, avoid overcomplication, and think long-term.
• Happiness is part of the balance sheet—money is a tool, not the outcome.

 

Chapter Markers: 0:00 – Intro 1:40 – Meet Mike Prado and Hillside Wealth 3:00 – From Fishing Guide to Financial Manager 4:15 – Why Hillside Focuses on Business Owners 5:30 – The Biggest Financial Challenges Business Owners Face 6:45 – Preparing for a Business Exit the Right Way 10:00 – How to Make Your Business “Ready for Sale” Anytime 13:30 – The Difference Between a Financial Advisor and a Wealth Manager 17:00 – Planning Conservatively: Living to 95 and Annual Reviews 20:00 – Managing Emotions and Market Fluctuations 22:30 – The Joy Philosophy at Hillside Wealth 24:30 – What to Do with Excess Business Cash 27:00 – Corporate Investment Accounts Explained 31:00 – Keeping Wealth Simple: Stocks, Bonds, and Balance 33:20 – The #1 Wealth Rule: Spend Less Than You Make 34:40 – How to Connect with Hillside Wealth 36:00 – Quickfire Round with Mike Prado 40:15 – Closing Thoughts

 

Keywords: fractional firepower, kyle ancelin, mike prado, hillside wealth, business wealth management, financial planning for business owners, exit strategy, small business tax planning, know your numbers, wealth management podcast, investment strategy, retirement planning, portfolio management, joy in wealth, financial clarity