Michael Wagner, COO of Omnia Family Wealth Featured in Barron’s

Michael Wagner, co-founder of Omnia Family Wealth, was recently featured in Barron’s for his insights on handling requests for financial support from friends and family after receiving a significant windfall.

In the article, “Just Had a Windfall? How to Say No to Friends and Family Seeking Money,” Michael highlights the importance of approaching personal investments with a thoughtful process, as business proposals from personal networks can often come with unexpected risks.

“Your first investment is often not your last. If you go into it and fund the business, sometimes it’s more money down the road. So, think of your first investment as being your minimum investment. And it can really snowball because you’ve said yes once already, so it’s hard to change that path,” Wagner explains.

You can read the full Barron’s article here.

At Omnia Family Wealth, we understand the complexities that come with sudden wealth and the pressures it can create. We work closely with clients to evaluate opportunities thoughtfully, ensuring their financial decisions align with their long-term goals and protect their overall well-being.

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