Executive Chairman, Core Main
Search every verified Stephen Leclair interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Steven Leclair, Executive Chairman at Core Main, appeared on two podcasts in 2021 and 2023 to discuss wealth management for entrepreneurs. He said that business owners often have their wealth tied up in their companies and may lack sophistication in investments after a sale. Leclair stated that most businesses sell to private companies or private equity rather than going public, and he described retirement as "often a facade," noting that many people exit one business only to enter another. He advised young entrepreneurs to find a "tribe of champions" to challenge and support them. Leclair discussed tax mitigation strategies, stating that he believes tax policy will begin to change in 2022 and 2023. He described the March 2020 market downturn as "an opportunity of a lifetime" and said he is an optimist about markets. Leclair also noted that there are about 30% fewer securities in public markets over the last 20 years, which he attributed to companies being bought, taken private, or not going public. He emphasized that honesty is the most valuable resource in wealth management and that sugarcoating problems leads to issues during economic uncertainty.
“Most business owners don't realize that key managers often have more liquid wealth than the owners themselves until the company is sold, because the owner's wealth is tied up in the business and reinvested every penny back into it.”
“Business owners with companies worth tens of millions often lack sophistication in investments and tax advantages, entering uncharted territory post-sale and facing emotional challenges adapting to public markets.”
“The vast majority of companies we work with sell to private companies or financial buyers like private equity, rather than going public.”
“Many entrepreneurs think of themselves as middle class despite having substantial businesses, because they come from average backgrounds and have poured their heart and soul into building their companies.”
“In wealth management, honesty is the most valuable resource; sugarcoating problems leads to issues, especially in times of economic uncertainty like high inflation and market volatility.”
“If faced with the same information again, making the same decision means it wasn't a mistake; mistakes are made when decisions are made blindly without information.”
“Cold calling is still alive and well in sales because there will always be a personality that matches yours and the right effort at the right time can change your life.”
“Most businesses in the United States are owned by Baby Boomers who will eventually have to exit their businesses, and it's better to do so on their own terms.”
“Retirement is often a facade; most people exit one business only to enter into another, redefining their work and life purpose.”
“To young entrepreneurs, I would say find a tribe of champions—a diverse group of people striving to be better, who challenge you and support your goals.”
“At this point in time we're at all-time lows on interest rates, so from a financial reason most debts when we're talking about good debts should you buy a house, should you refinance your mortgage, should you extend the length of time? We're looking at interest rates that are less than 3%. Historically, keeping your mo...”
“Retirement is not an age problem, it's a cash flow problem. As soon as you have the cash flow to cover your expenses, then you're set. You've bought yourself time, which is what we're exchanging right now for money for the most part when you get out of high school and get your job.”
“We spent $7 trillion as a country right now and we're going to have to pay for this stuff somehow. Becoming tax aware within your investments, incomes, and businesses is vitally important. I don't think tax policy is going to change in 2021 but I do think it's going to start to change in 2022 and 2023, so you need to t...”
“There's about 30% fewer securities in the public markets over the last 20 years because companies have been bought, taken private, or not going public. So all these statistics about public market valuations being so high are partly because there are more people chasing fewer things. It's going to be harder for the aver...”
“Life insurance is here for two reasons: it's either to create an estate or to preserve an estate. For most people, it's the creation of the estate—like buying a 20 to 30-year term policy to replace income if you die prematurely. For wealthy families, it's about preserving the estate from estate taxes, which currently a...”
Steven Leclair joins The Damn Good Day Show to discuss how he guides successful families and entrepreneurs to and through ...
Episode 637: Steve was recognized by Forbes in 2019* as one of the top financial advisors in Ohio. His financial services career ...
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