Unlocking Wealth Strategies Used by the High-Net Worth with Chris Marino

Unlocking Wealth Strategies Used by the High-Net Worth with Chris Marino

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Welcome back to The Daily Mastermind. I'm George Wright III, bringing you your daily dose of inspiration, motivation, and education.

Today, we’re diving deep into the topic of wealth — specifically, the mindset behind financial success and long-term security. Joining me is a special guest with a wealth of experience in financial planning and insurance strategies: Chris Marino.

Chris is a Senior Marketing Director and Partner at Turo Point. With over 15 years of experience as a wealth advisor, life insurance broker, and strategist for high-net-worth individuals, he has closed over a billion dollars in insurance deals. His focus is not just on strategy, but on helping business owners and individuals understand the mindset required to build and preserve wealth.

Chris, welcome to the podcast.

Thank you so much, George, for having me on. It’s a pleasure and an honor.

It’s great to have you here. I know scheduling is always a challenge with guys like you and me, but we made it happen. I’m currently in Scottsdale at our regenerative medicine clinic, and you're out in Texas, right?

Yes, I’m in our Austin, Texas office today. We also have an Orange County, California location, but I’m based here for now.

Gotta love technology. It's one of the reasons I love doing this podcast—we can share ideas and knowledge with people across the world, no matter where they are.

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Chris Marino’s Journey into Wealth Planning

Let’s jump right in. You’ve been in the financial space your entire career. Our audience is mostly made up of business owners, CEOs, and high achievers. What initially drew you into wealth management and planning?

I actually backed into space. I got out of school in 2006, pre-2008 financial crisis, and started working for investment banks. At the time, they were purchasing insurance policies and bundling them like they did with mortgages. After 2008, most of those banks pulled out of that space.

I transitioned into working with a multi-generational wealth planning office in Texas. I started helping with high-net-worth insurance needs. Being in my early twenties, it was tough to connect directly with clients at that level, but I was already working with planners, advisors, and brokers. So I pivoted to help clients get new policies rather than buy out existing ones.

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The Wealth Mindset in Action

Let’s talk about the wealth mindset. You've worked with ultra-successful individuals. What stands out about how they think about money?

Wealthy people think very differently. People in lower or middle-income brackets often think about saving money just to pay bills or buy something they want. Wealthy individuals focus on making their money work for them.

They don’t like seeing large sums just sitting in a bank account. They understand that once you have money, the key is to use it wisely—to invest and grow it. That mindset makes all the difference.

That’s so true. Most people—even business owners—spend their time working for money, instead of putting their money to work. They think financial planning is something they do once they’re wealthy. But in reality, successful people integrate financial planning into their growth strategy from day one.

Exactly. Entrepreneurs, in particular, tend to pour everything into their businesses. But not all businesses succeed. If there’s no Plan B, they could lose everything. That’s why financial planning is critical. The earlier you start, the better.

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The Importance of Financial Planning

How critical is it for individuals—especially business owners—to have a financial strategy in place before they accumulate large assets?

It’s essential. Most entrepreneurs focus entirely on their business, which makes sense—they’re investing in themselves. But the truth is, many businesses fail. Without a financial plan, a business owner can go from very wealthy to struggling, fast.

Even if your business is doing well, you need strategies in place: buy-sell agreements, key person insurance, tax planning, and long-term wealth protection. These aren't just good ideas—they’re necessary to safeguard your future.

Absolutely. I teach a seven-step formula to many of my clients. It begins and ends with mindset and financial planning—those bookends are crucial. Everything in between—marketing, sales, business growth—won’t matter if you don’t protect what you’re building.

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Reframing Insurance as a Wealth Tool

Let’s talk about insurance. There’s a lot of misunderstanding around it. People often see it purely as protection, not as a tool for wealth building. Can you explain how insurance can be used strategically?

Sure. First, for business owners with partners, a buy-sell agreement backed by insurance is non-negotiable. If one partner passes away, the business can continue running without suddenly being co-owned by the deceased partner’s spouse or family.

Next is key person insurance. If you lose a crucial executive or employee, the insurance payout allows you to stabilize and find a replacement.

But beyond protection, we specialize in using Indexed Universal Life (IUL) and Variable Universal Life (VUL) insurance as investment tools. With IUL, you’re protected by a death benefit, but also investing into the market—with tax-free growth and withdrawals. The floor is 0%, so you never lose your investment, and the ceiling gives you consistent returns over time.

It’s a smart, dual-purpose solution: protection and tax-advantaged growth.

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Real-World Applications and Case Studies

Can you share a couple of real examples where insurance made a difference—whether as protection or an investment?

Absolutely. At my previous company, we had a key person policy on a vital team member. Tragically, she passed away from an aneurysm at just 45. The company was able to use the payout to recover operationally, and her family received $2 million, which put her three kids through college. That’s life-changing impact.

On the investment side, I started one of these IUL policies personally about 10 years ago. It’s grown steadily, tax-free. We’ve also helped business owners set up executive benefit plans using these policies to grow their personal net worth while protecting the company.

One client had a company valued at $100 million. He set up a policy that later accumulated over $3 million. When his company went bankrupt, that policy allowed him to keep his home, maintain his lifestyle, and eventually launch a new venture.

That’s powerful. Too many entrepreneurs tie their entire financial future to their business. Insurance gives them stability, flexibility, and protection when life doesn’t go according to plan.

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Getting Started: What You Should Know

For someone who’s new to this concept, what’s the first step? Where should they begin?

Start by learning the basics. Today, with the internet, it’s easy. Educate yourself on indexed and variable life policies, long-term care riders, tax benefits, and investment structure.

Then, connect with an experienced independent advisor—not someone tied to a single provider like Northwestern Mutual or New York Life. At Turo Point, we work with 25–30 companies so we can tailor plans based on the client’s specific needs.

Also, keep in mind that your health affects your policy options, so it’s wise to address that early too.

That’s such an important point—people need to do their due diligence, but also work with someone who isn't tied to just one product. You need flexibility and objectivity when building a financial plan.

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Final Thoughts and How to Connect

Chris, where can listeners go if they want to learn more or connect with you?

You can visit us at www.turopoint.com. I’m also available by email at chris@turopoint.com, and we share educational articles and blogs regularly. LinkedIn is another great place to connect.

Perfect. We’ll link all of those in the show notes. I encourage everyone to reach out to Chris if you’re serious about building a financial future that’s stable, strategic, and built to last.

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Closing Thoughts

Here’s the bottom line: The most successful individuals don’t just make money—they manage, protect, and multiply it. Insurance isn’t just for emergencies. It’s a strategic tool for building wealth, reducing taxes, protecting your family, and creating a legacy.

Take the time to explore your options. Learn. Ask questions. Find a trusted advisor. Most importantly, take action.

Thanks again, Chris, for joining us today.

It was a pleasure, George. Thank you for having me on.

If you enjoyed this episode, make sure to subscribe to The Daily Mastermind and share it with someone who needs to hear this. As always, it’s never too late to start building the life you’re meant to live—but you must take action today.

Until next time, stay focused and live intentionally.