Family Wealth Advisor
Michael Palumbos is the founder of Family Wealth and Legacy, a boutique wealth management firm that provides small firm personalized service with big firm capabilities. He is a second-generation family wealth advisor focused on serving middle market family-owned construction businesses (annual revenues of $10M to $500M) as their advisor, coach, mentor, strategist, and educator.
Mr. Palumbos has over 20 years of experience working with multi-generation family businesses and their accumulated wealth. Michael is a Certified Business Exit Consultant (CBEC), Chartered Financial Consultant (ChFC) and a Metronomics business coach. Michael earned his bachelor’s degree in economics from the University of Rochester.
Mr. Palumbos is a board member for Wayne Cooperative Insurance Company, a founding member of the Purposeful Planning Institute, a member of the Rochester Estate Planning Council and an active member of Vistage. He was the President of the Rochester Society of Financial Service Professionals and the chair of the Family Business Group of the Syracuse Chamber of Commerce.
Michael is the host of the top rated podcast*, The Family Biz Show, and the author of the book, Your Family Legacy: 32 Ways to Preserve Your Family’s ‘Wealth’ for generations. Throughout his career Michael has worked with and interviewed 100s of family businesses, coaches, and family business advisors. This unique perspective led him to the creation of the Thriving Family Enterprise system which is designed to help families get fully aligned and thrive for generations.
DID YOU KNOW
Michael's extended family has been vacationing together for over 20 years - Palumbos Family Vacation (PFV) is the highlight every July.
Michael is an avid scuba diver and he loves diving with sharks. Michael has dove with over 10 species of sharks, including Great Whites at Guadalupe Island in 2021.
He is a huge fan of Elon Musk. He follows and researches almost everything the entrepreneur does and in 2020 finally purchased his Tesla Model S. Next will be to get a ticket for a ride on a Space X rocket.
*Currently ranked in the top 10 family business podcasts by feedspot.com