“I Don’t Want More. I Want Meaning.”—How David Steele Redefined Wealth Beyond Numbers

Cut The Tie | Entrepreneur Success Unleashed

Cut The Tie Podcast with Thomas Helfrich
Episode 262

In this introspective and powerful episode of Cut the Tie, Thomas sits down with David Steele—entrepreneur, investor, restaurateur, and founder of One Wealth Advisors—to unpack a career built on service, reinvention, and emotional intelligence. From growing up poor to managing over $1.1 billion in client assets, David shares the lessons behind every scar, including why he walked away from Bear Stearns and how failure in one restaurant birthed a booming hospitality empire.

David also opens up about choosing not to have children and how a life of intentional service shaped his purpose beyond money, homes, or success.

About David Steele:
David Steele is the founder and CEO of One Wealth Advisors, a boutique financial planning firm with over $1.1 billion in assets under management. He’s also the executive chairman of a thriving hospitality group responsible for one of the most successful restaurants in San Francisco history. From financial planning to food, David believes that every business should be built to last—and built in the service of others.

In this episode, Thomas and David discuss:

• Rebuilding From Nothing
  From being fired, betrayed, and surviving Bear Stearns, David shares how he kept starting over—and how each reset sharpened his mastery.
• From Finance to Food
  Why he opened a restaurant “to scratch an itch,” and how it became an award-winning brand with multiple locations and CPG growth.
• Scar Tissue as Strategy
  The biggest lessons weren’t from wins—but from the pivots, setbacks, and imperfections he couldn’t ignore.
• The House That Didn’t Make Him Happy
  David built a modernist dream home—then realized joy lived in a tiny New York apartment.
• Mastery, Not Monetization
  David explains why every business he starts is built for longevity, not a quick exit—and why he’d rather keep his business partners than cash a check.

Key Takeaways:

• Starting over is not the same as starting from zero
• Relationships are the most valuable asset you can build
• Your art doesn’t have to be traditional—business can be your medium
• Don’t chase “more”; chase meaning
• Everything we do should be in service to others

Connect with David Steele:
🔗 Website: https://davidsteele.xyz

Connect with Thomas Helfrich:
🐦 Twitter: https://twitter.com/thelfrich
📘 Facebook: https://www.facebook.com/groups/cutthetie/
💼 LinkedIn: https://www.linkedin.com/in/thomashelfrich/
🌐 Website: https://www.cutthetie.com/
📧 Email: [email protected]
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Chapters

1. Introduction to David Steele (00:00:00)

2. Building Billion-Dollar Businesses (00:04:45)

3. Learning From Failures (00:09:10)

4. Mastering Your Craft (00:13:35)

5. Building Businesses as Living Art (00:17:05)

6. Success Through Service to Others (00:21:20)

7. Rapid Fire Questions (00:25:00)