The statistics are sobering. Studies show that 70% of wealthy families lose their wealth by the second generation, and 90% have depleted it by the third. Despite decades of hard work building successful businesses and investment portfolios, most high-net-worth families watch their legacies evaporate due to poor planning, inadequate estate structures, and erosion from transfer taxes.
For families who have built their wealth in illiquid assets, such as businesses and real estate, which are often the most successful wealth builders, traditional financial institutions often fall short of providing the sophisticated planning strategies these situations demand.
It’s a problem that requires more than generic financial advice. Steven BowlesCLU®, founder of Catalyst Advisoryrepresents a unique breed of advisor who combines technical expertise with an entrepreneurial vision focused entirely on solving these challenges. His journey to becoming a leading voice in advanced planning provided him with the diverse experience and insights needed to serve high-net-worth families in ways that traditional advisors often cannot.
Building the Foundation
After graduating from Cairn University with a degree in business administration in 2004, Steven spent the better part of a decade building his foundation in sales and business development across various industries. This diverse experience taught him how to identify client needs, build relationships, and deliver tailored solutions.
The Pivot to Wealth Transfer Planning
The turning point came when Steven transitioned into wealth transfer planning, spending seven years at a family office advisory firm that specialized in serving ultra-high-net-worth families. This experience opened his eyes to the sophisticated strategies employed by the wealthiest families in America and the significant gaps in service for those who didn’t quite reach the traditional family office threshold.
“I constantly saw balance sheets of wealthy families and witnessed their growth patterns,” Steven explains. “What struck me was that these families weren’t just invested in securities. They built wealth through businesses and real estate, often achieving 20+ percent annual growth. But if you weren’t liquid, you weren’t getting the same attention from large private banks.”
Working in this environment, Steven gained invaluable insights into how the ultra-wealthy structure their affairs, protect their assets, and efficiently transfer wealth across generations. He witnessed firsthand complex trust structures, sophisticated gifting strategies, and the strategic use of life insurance for estate liquidity and tax efficiency.
The Birth of Catalyst Advisory
By 2020, Steven had earned his Chartered Life Underwriter (CLU®) designation and was contemplating launching his own practice. He shared his entrepreneurial aspirations with his wife, noting that while he wanted to build something of his own, he felt he needed more experience and credentials first. Two years later, when his employer faced unexpected closure, Steven found himself with the perfect catalyst, if you will, to launch Catalyst Advisory in the fall of 2022.
“The name ‘Catalyst’ represents exactly what we aim to be,” Steven says. “We support clients in shaping their financial strategies, with a focus on wealth transfer planning and exploring opportunities that align with their goals.”
A Different Approach to Wealth Transfer Planning
What sets Catalyst Advisory apart is its focus on bringing family office-level strategies to a broader audience. While traditional family offices typically serve clients with $100 million or more in assets, Catalyst works with high-net-worth individuals and business owners starting around $10-15 million in net worth who can benefit from sophisticated planning but don’t need a whole family office structure. “There’s a significant gap in the market,” Steven explains. “Many wealthy families are underserved because they’ve built their wealth in illiquid assets like businesses and real estate. They need advanced planning strategies, but they don’t fit the typical private banking model.”
Catalyst’s client base includes entrepreneurs, real estate investors, private equity professionals, and business owners who have successfully built substantial wealth but need guidance on how to preserve it, protect it, and efficiently transfer it to the next generation.
Comprehensive Service Offerings
Catalyst Advisory provides three core service areas, each designed to address specific wealth preservation needs:
Advanced Planning forms the cornerstone of the firm’s offerings. This involves coordinating estate planning, wealth transfer strategies, and life insurance solutions for high-net-worth clients. Steven works closely with clients’ existing advisors, attorneys, accountants, and other professionals to ensure comprehensive planning that addresses potential gaps or opportunities for improvement.
Business Protection addresses critical vulnerabilities that many successful business owners overlook. This includes implementing funded buy-sell agreements, key person insurance strategies, and succession planning solutions. “A lack of proper business protection can leave companies exposed to significant risks,” Steven notes. “We help business owners protect their most valuable asset while planning for retirement and succession.”
Family Protection focuses on using life insurance strategically to protect families from the financial impact of losing key providers, whether they work outside the home or manage household operations. This service extends beyond simple coverage to comprehensive estate planning and trust strategies.
Looking Ahead
With a growing network of like-minded professionals and clients, Steven Bowles and Catalyst Advisory represent the future of wealth planning. Here, sophisticated strategies are accessible to a broader range of successful families, not just the ultra-elite. And with the One Big Beautiful Bill Act (OBBBA) providing a historic high estate tax exemption of $30 million per couple ($15 million per individual), at least for the time being, now is the time to plan.
For Steven, the ultimate goal extends beyond financial success. As a father of three sons, he hopes to one day pass the business to the next generation, creating his own family legacy while assisting many other families with similar planning needs.
