How a Poor Kid Built Generational Wealth

Summary

Podcast Summary: "How a Poor Kid Built Generational Wealth"

Living Your Legacy – Host: Rudy Mawer (Guest Host: Angelina) with Sean Phelps
Air Date: July 15, 2026

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Overview & Main Theme

In this episode of Living Your Legacy, guest host Angelina sits down with Sean Phelps, founder of River Tree Wealth. Sean shares his personal journey from a modest upbringing in a small Ohio town to building a successful private wealth practice, emphasizing values, legacy, and the philosophy of helping others achieve generational wealth. The conversation covers financial planning basics, the importance of vision, and actionable advice for entrepreneurs and families seeking to create enduring impact. The tone is candid, reflective, and inspiring, underscored by Sean's humility and focus on service.

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Key Discussion Points & Insights

1. Sean’s Background: Humble Beginnings

• Sean grew up in Newark, Ohio (“Nerc Ohio”), raised by his single mother, Marcia, alongside his brother Justin. Despite material scarcity, he recounts feeling loved and supported.
  • "Grew up, I guess you would call poor, but I never felt it." (02:33 – Sean Phelps)

2. Building River Tree Wealth

• Founded River Tree Wealth 15 years ago, focusing on helping families, business owners, and entrepreneurs align their vision and financial direction.
  • “We help families, family businesses, entrepreneurs live their best life, really try to help them align their vision, perspective, and direction.” (03:07 – Sean Phelps)

3. Financial Planning: The “Three I’s”

• Sean’s simple, actionable framework:
  • Ideas: Start with your vision of the future.
  • Investments: Build strategies to grow wealth.
  • Insurance: Protect what you’re building.
• “It usually starts with ideas. So what's your idea of your financial future? Start to think about that. And then we intertwine investments and insurance around those ideas.” (03:47 – Sean Phelps)
• Sean explains that many clients have vision but lack full understanding of what’s possible and the tools at their disposal.
  • “It's not for a lack of opportunity. It's a lack of understanding of what's possible.” (04:03 – Sean Phelps)

4. The Value of Guidance: Real-Life Example

• Sean shares a story of helping a real estate client avoid a $1 million tax pitfall by asking a key question and connecting him to the right advisor:
  • “He would have owed over a million dollars in taxes had we not pivoted around that...just getting the right people around the planning table to help him.” (04:47 – Sean Phelps)

5. Personal Story: How Sean Got Into Wealth Management

• Inspired by seeing his mother’s version of “financial planning” (lining up bills to pay), he wanted to find a better, more abundant way. His early career in banking allowed him to observe and learn from financial professionals.
  • “I literally remember seeing mom line up the bills on the kitchen table and what mom called the cracker jack house.” (05:41 – Sean Phelps)
  • “I was a consumer of information, a consumer of experiences. So I watched bankers, I watched attorneys, I watched accountants...trying to learn what's the best way to help people really think about their wealth.” (06:14 – Sean Phelps)

6. Past, Present, and Looking Forward

• Sean reflects on 30 years in finance: first as a banker, now as a founder and partner, emphasizing keeping promises to clients, serving multiple generations, and facilitating true legacy.
  • “It's delivering on the promises that we've already made to our clients and making sure those promises get maintained for the next generation or even the next next generation.” (07:06 – Sean Phelps)
• Discusses the excitement and responsibility of working with clients who will make generational change for their families.
  • “Some of our clients are the one person in their family that's going to make a seismic shift in the financial future for the family. And I get excited when that one sits across from us on the table.” (07:39 – Sean Phelps)

7. Family, Faith, and Legacy

• Values humility and faith as he considers his role as a potential “legacy maker” in his own family. He encourages his children to forge their own paths but also hopes they contribute meaningfully if they join the family business.
  • “If they choose to and they earn the right to be a part of our practice, I don't want them to just be in charge of it either. I want them to sit around the table at the business with other great young men and women.” (08:53 – Sean Phelps)
• Emphasizes diversity and teamwork in business succession:
  • “My wish is that they're part of the ownership, but not the ownership. I really want them to sit around the table with diverse individuals, men, women, of all kinds of people, to really sit at that planning table of River Tree and deliver on the promises that we've made.” (09:09 – Sean Phelps)

8. Openness and Approachability

• River Tree Wealth serves people at all stages—from those with just an idea to seasoned business owners. Sean describes his network as “the friends business.”
  • “The more friends we can make, the better off life will be. We have a big strike zone on purpose...If you're honest, hard working, ethical, and you're really trying to move forward with your legacy, we're open for business.” (11:12 – Sean Phelps)

9. Community, Influence, and Gratitude

• Sean appreciates the diversity and inspiration within his industry and the platform, acknowledging the importance of both men and women in business success. He credits his upbringing by a strong single mother and feels inspired by other “Women in Power.”
• Closes with deep gratitude for his clients, family, and the River Tree team:
  • “A lot of times I get the limelight. A lot of times I get to be on the podcast. But there's a dozen of folks behind and a hundred behind them that really love and support us and take care of our clients every day.” (13:43 – Sean Phelps)

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Notable Quotes & Memorable Moments

• On childhood perspective:
  “Grew up, I guess you would call poor, but I never felt it. We always had what we needed.”
  — Sean Phelps (02:33)

• On the importance of asking questions:
  “Just getting the right people around the planning table to help him.”
  — Sean Phelps (05:12)

• On legacy and succession:
  “I want them to sit around the table with diverse individuals, men, women, of all kinds of people, to really sit at that planning table of River Tree and deliver on the promises that we've made.”
  — Sean Phelps (09:09)

• Business philosophy:
  "We're in the friends business. The more friends we can make, the better off life will be."
  — Sean Phelps (11:12)

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Timestamps for Important Segments

• Sean’s background and upbringing: 02:24–03:02
• The “Three I’s” approach to financial planning: 03:34–03:57
• Client tax story—The value of having a trusted advisor: 04:44–05:27
• Sean’s journey into wealth management: 05:41–06:45
• Past, present, and future of River Tree Wealth: 06:45–07:59
• On family, faith, and business succession: 08:13–09:33
• Open invitation to entrepreneurs at every stage: 10:03–12:02
• Acknowledging women in business, team, and gratitude: 12:30–13:51

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Final Thoughts & Where to Find Sean

Sean concludes by expressing thanks to his clients, family, and team—and reiterates his philosophy of service and humility. For those seeking financial guidance or simply wishing to connect, he welcomes outreach:

• Website: rivertree-wealth.com
• Socials: Search "River Tree Wealth"

“We're in the friends business. Just reach out, introduce yourself. Love to make a friend.” (13:58 – Sean Phelps)

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This episode offers both inspiration and practical wisdom for anyone looking to build and leave a meaningful legacy, no matter their starting point.

Transcript

[Sean Phelps]

15 years ago, founded a company called River Tree Wealth. We're a private client wealth practice and we help families, family businesses, entrepreneurs live their best life. Really try to help them align their vision, perspective and direction of what they're doing in their career.

[Narrator]

Sean W. Phelps is a wealth advisor, entrepreneur and the founder of River Tree Wealth. He helps business owners and families build, protect and preserve their wealth through personalized financial planning, trust in estate strategies and long term legacy planning.

[Sean Phelps]

So I had a client owns a lot of rental real estate. He made a major error in his tax situation. We're not tax advisors, don't give tax advice. But I just asked the question, are you sure you're able to do this? Just the question around that. He was able to call his cpa. We're going to avoid a million dollar tax issue. He would have owed over a million dollars in taxes had we not pivoted around that.

[Angelina]

Do you have any advice on how people should live their best life financial wise?

[Sean Phelps]

Starts with the three eyes.

[Podcast Intro/Host]

It spans the globe like a super high cold Elvis ready time for free. Today, Apple is going to reinvent the phone. It's not over until I win. The Living your Legacy podcast. For those who live to leave a legacy that's extraordinary. The impossible has happened. Oh, that is sensational. Jordan, open Chicago with the lead. You said Paul is the fastest man on the planet. You can live your dreams.

[Angelina]

Welcome to Living youg Legacy podcasts on Inside Success tv. I'm Angelina and I'm here with Sean Phelps. Hi, Sean, how are you?

[Sean Phelps]

Wonderful.

[Angelina]

Great. So, Sean, you just filmed your episode with us. How'd it go?

[Sean Phelps]

It was amazing experience.

[Angelina]

Yeah.

[Sean Phelps]

Very reflective on just 30 years of work and 50 years of life.

[Angelina]

Amazing. We're going to reflect some more, so give us the rundown. What did you talk about? What did you highlight in your episode? What do you want to focus on right now in this podcast?

[Sean Phelps]

Yeah, honestly, it was, it was a chance for me to just take a pause in the business and think about past, present and future of where we've been, what we're doing now as a team and what the future might hold.

[Angelina]

Yeah, I think this is a great experience for all of our clients to take a step back and kind of reflect on everything they're doing. And it's really a great opportunity for you guys to kind of start fresh, see where you're at and see what you want to do from here, right?

[Sean Phelps]

Yeah.

[Angelina]

Cool. So, Sean, tell us a little bit about yourself.

[Sean Phelps]

Yeah. So, Sean Phelps from a little town called Newark, Ohio. If You've not been there. A lot of the locals call it Nerc Ohio.

[Angelina]

Okay.

[Sean Phelps]

And started off, was raised by a single mom, myself, my brother Justin and my mom Marcia. And grew up, I guess you would call poor, but I never felt it. We always had what we needed. We always had birthday parties, we always went to the park. So just a young kid from the south side of Newark.

[Angelina]

Yeah. Cool. I think it's really funny to see that you never feel poor until you realize how rich other people really are. You know what I mean? Exactly. Oh, I could definitely relate to that. So what do you.

[Sean Phelps]

Especially in Miami.

[Angelina]

Yeah, yeah, yeah, yeah. For sure. But what are you doing now?

[Sean Phelps]

Yeah. So 15 years ago, founded a company called River Tree wealth. And now we're a private client wealth practice. And we help families, family businesses, entrepreneurs live their best life, really try to help them align their vision, perspective, and direction of what they're doing in their career.

[Angelina]

Okay. So I know, me personally, I want to live my best life, and I think everyone does. Do you have any advice on how people should live their best life? Financial wise, planning, all that good stuff?

[Sean Phelps]

Yes. So I think it starts with the three eyes.

[Angelina]

Okay.

[Sean Phelps]

So when we. When we first meet someone and maybe even working with you someday.

[Angelina]

Yeah.

[Sean Phelps]

Where is the idea is investments and insurance. How do we put. Put that puzzle together for you?

[Angelina]

Okay.

[Sean Phelps]

And it usually starts with ideas. So what's your idea of your financial future? Start to think about that. And then we intertwine investments and insurance around those ideas.

[Angelina]

Cool.

[Sean Phelps]

Yeah.

[Angelina]

All right. So it's kind of like a. Done for you. Like, I know what I want. I don't know how to do it though.

[Sean Phelps]

Exactly. And most of the folks that sit. Oops. Most of the folks that sit across from us, they have a great vision of what they're trying to accomplish. And it's not for a lack of opportunity. It's a lack of understanding of what's possible.

[Angelina]

Yeah.

[Sean Phelps]

What they could do in the future. And all the tricks of the trade of compounding interest and wealth and tax and legal. Just putting all of that puzzle together, if you will, around their ideas.

[Angelina]

Okay, cool. Well, I think that's really valuable because especially in this day and age, we have too much information. There's so many things you can do, but it's like, okay, what's the right thing to do? What's the wrong thing to do? Maybe I'm doing something now and it's okay, but I could be doing something way better. And you just never know sometimes until it's too Late. Right.

[Sean Phelps]

I totally agree. I had an experience this week that actually was like that.

[Angelina]

Yeah.

[Sean Phelps]

So I had a client, great vis, great perspective of where he is in that vision. He owns a lot of rental real estate. He made a major error in his tax situation. A major problem. We're not tax advisors, don't give tax advice. They need to work with their CPAs. But I just asked the question, are you sure you're able to do this? And the direction we were able to give him and just the question around that. He was able to call his cpa, get solid advice from them. We're going to have another follow up call next week. We're going to avoid $1 million tax issue. He would have owed over $1 million in taxes had we not pivoted around that. And it's just taken the slow down understand what he was really trying to accomplish and just getting the right people around the planning table to help him.

[Angelina]

Amazing. So clearly very valuable to important people. Right. You become a big asset in business owners lives. Right.

[Sean Phelps]

We try to.

[Angelina]

That's great. But tell me, how did you get into this?

[Sean Phelps]

Yeah.

[Angelina]

How did it start?

[Sean Phelps]

Yeah. So quick story. There was no financial planning in my life growing up. My mom's version of financial planning, and God love her, was which bill can I pay out of this paycheck? I literally remember seeing mom line up the bills on the kitchen table and what mom called the cracker jack house. I didn't feel that way, but it was small, it was cozy. And so mom, that was our version of financial planning. So when I got to go to university through football and athletics and then eventually start in banking, I thought there might be a different way, a better way, a more abundant way to kind of look at wealth. And I just, I was a consumer of information, a consumer of experiences. So I watched bankers, I watched attorneys, I watched accountants, how they interacted with their own money, but also how they interacted with their clients money. And just trying to understand and learn what's the best way to help people really think about their wealth.

[Angelina]

Yeah. Cool. And at the beginning of this podcast you mentioned like start, you know, current and then future. Yeah. So what was your start like? And then how do you think you are from between your start and now and what do you plan to do next?

[Sean Phelps]

Oof, great question. So I, I think for me, the past, I was fortunate to become a banker pretty early on, in my early 20s. So when I say I've been helping people with their money for 30 years, the first part of my career was As a banker.

[Angelina]

Yeah.

[Sean Phelps]

And then this part now as a private wealth advisor, founder of a company, and now a partner. I have partners in the business, which is another blessing.

[Angelina]

Yeah.

[Sean Phelps]

For us, it's. It's delivering on the promises that we've already made to our clients and making sure those promises get maintained for the next generation or even the next. Next generation. And when I think about that, and I start to think about how our clients have trusted us, embraced us, worked with us around their legacy goals for us. When we were asked, are you a legacy maker? I'm like, well, I think I'm a legacy. I want to maintain those promises about their legacy. I want to make sure I understand their vision and their perspective. And we give them great direction on how are they going to accomplish their legacy, how are they going to leave their legacy through that. It oftentimes turns into a conversation where some of our clients are the one person in their family that's going to make a seismic shift in the financial future for the family. And I get excited when that one sits across from us on the table.

[Angelina]

Amazing. Yeah. So it seems like for you, you were that one person in your family, and I saw in your story, you spoke about your sons that, you know, you want to continue that legacy for them. So can you tell us a little bit about that, how involved your family is in your business now?

[Sean Phelps]

Amen. What a blessing. And I get a little embarrassed when you say, sean, you're the one. Like, I don't feel that way. I don't look at myself that way. I try to. We always want to be humble in God's eyes. But if I'm the one or if we're the one as a family, for that, you ask the question of how I want that legacy to be passed forward. Humble. I think true men of faith, because I have boys or women of faith as they bring, you know, other Cami and others into the. Into our world. And for them, I just. I want them to live their own life. You know, it's. It seems like there's this natural path for them to follow dad in the family business. Yeah, but that's not a necessity. Maybe they want to be a football coach. Maybe they want to be a stay at home dad. Who knows what they're going to be when they grow up. But if they choose to and they earn the right to be a part of our practice, I don't want them to just be in charge of it either. I want them to sit around the table at the business with other great young men. And women.

[Angelina]

Yeah.

[Sean Phelps]

I want to have. I would love if I had a magic wand. My wish is that they're part of the ownership, but not the ownership. Yeah, I really want them to sit around the table with diverse individuals, men, women, of all kinds of people, to really sit at that planning table of River Tree and deliver on the promises that we've made. Help the second and third generation of our clients really pay it forward to who invested in us.

[Angelina]

I love that. Thanks.

[Sean Phelps]

Thank you.

[Angelina]

I think, you know, you're very thoughtful and intentional with everything you do and it's displayed, you know, here now. But clearly you're a successful guy. You've done good for yourself. So it seems like, you know, your clients feel the same way as well. Yeah. Wow, that was amazing. So let's see, anything else? Is there anything that you want to share with us today? Anything that you want anyone watching this podcast to know, to see?

[Sean Phelps]

Well, we're open for business. Let's talk about that. Open for business. Yeah, absolutely. And in a lot of different ways. So you might be somebody that's listening, watching the podcast and think, well, can I start my own business?

[Angelina]

Yeah.

[Sean Phelps]

Am I the one? I don't know. Let's have a conversation about that. Let's talk about that. You know, let's give us a call, reach out to us, send us a DM and let's have a conversation about that. Or if you're already established, you've already have the business, but you don't understand how to go from paycheck to playcheck, you don't know how to actually exit the business, we're open for business for that too. Let's have a conversation. Let's sit across the table from each other, really understand vision, perspective and direction of where you're trying to take the company and then let's figure that out together. And if we don't have all the answers, because we don't always do, we'll bring other team members, other joint work partners, other legacy makers, if you will, in other industries to help us understand how to accomplish that goal.

[Angelina]

Cool. So it seems like a one stop shop and it seems like you accept people at any stage of their business life. You know, if that initial idea phase, whether the idea is, you know, startup, bare bones, or if they already have something big there.

[Sean Phelps]

Yeah, Angelina, we're in the friends business. The more friends we can make, the better off life will be. Love that we have a big strike zone on purpose, a lot of private wealth advisors, and no knock to them, they have a Very specialized business. They only work with doctors, they only work with business owners. We're pretty open to good people. We've earned the right in our business to surround ourselves with good people. If you're honest, hard working, ethical, and you're really trying to move forward with your legacy, we're open for business. We're ready to help you. And thankfully, it's not just myself, Brandy, Justin, who are the partners in the business that can sit across the table? We have other advisors too. We have second generation advisors who are getting their CFPs and their CFAs, they're getting their designations, their MBAs, they can help as well. So yes, we're open for business. And a big strike zone of if you're a good person, give us a call. Hopefully we can help you.

[Angelina]

Cool. We can definitely relate to that here. Yeah, I mean, we accept all good people, right? We want to work with everyone who has a good story to tell, who wants to, you know, make their mark on their legacy. You know, now we have different shows for different types of people and industries, but everyone's kind of here for the same purpose. Either share their story or, you know, progress their business themselves, their lives, their families, stuff like that. So we can definitely all relate on that part.

[Sean Phelps]

I can tell from just my interactions virtually and now in person, you got. That's true. Like there's the Women in Power segment that I was able to watch a couple episodes of Truly Inspiring Women. I mean, again, raised by a single mom, so powerful women. I've been surrounded by powerful women my entire career, my entire life. And I started watching some of those episodes, I get goosebumps in the air about like just awe inspiring situations. So no, it's cool to hear about it and just truly humbled and thankful to be here today.

[Angelina]

Well, that's true. As a woman myself and you know, I meet all the women here, they are amazing. I don't know how they do it. They're superstars. And I will say they produce amazing kids. Even their kids are, you know, future legacy makers. I will say a lot of them. So I'm sure your wife is a woman in power as well. But thank you so much for that.

[Sean Phelps]

Yeah. Anything else, I guess I would just end with just a humble thanks, you know, a thanks to our clients, our thanks to my family who raised me right. A thanks to the Northwestern Mutual and River Tree team members who support us every day and pour countless hours of education help support to us. You know, a lot of times I get the limelight. A lot of times I get to be on the podcast.

[Angelina]

Yeah.

[Sean Phelps]

But there's a dozen of folks behind and a hundred behind them that really love and support us and take care of our clients every day. So I guess I would end with just thanks.

[Angelina]

Cool. Well, thank you so much for coming. It was great to have you. And that's a wrap. Oh, where can people find you?

[Sean Phelps]

Oh, online. Go to just rivertree-wealth.com. send us a message on the website. You can also find us on socials. Just look up River, Tree, dash, Wealth. You can find us everywhere. Send us a message. We'd love to interact, even if it's just an encouraging word. Or again, we're in the friends business. Just reach out, introduce yourself. Love to make a friend.

[Angelina]

Amazing. Thank you so much, Sean.

[Sean Phelps]

Thank you.