Unlocking Financial Freedom: A Conversation with Stoy Hall on Business Growth Talks
In this episode of Business Growth Talks, I had the pleasure of speaking with Stoy Hall, the CEO and Founder of Black Mammoth and host of the No BS Wealth Podcast. Stoy is a champion of financial literacy, inclusivity, and holistic wealth management. His mission is clear: to eliminate financial illiteracy and empower individuals with the right tools and mindset to build lasting wealth.
We covered a wide range of topics, including the importance of financial education, breaking generational money habits, building a business around community, and redefining wealth beyond money. Stoy shared his insights on how modern family offices can serve everyday individuals, the role of mindset in wealth creation, and why financial trauma holds people back.
If you're ready to transform your financial future, this episode is packed with actionable strategies and deep insights that can help you shift your financial perspective and take real action toward financial stability and growth.
Meet Stoy Hall: The Man Behind Black Mammoth and No BS Wealth Podcast
Stoy Hall is a financial educator, wealth manager, and entrepreneur who approaches finance differently. Unlike traditional financial advisors who focus solely on investments, Stoy takes a holistic and community-driven approach to wealth building.
His Background
- CEO and Founder of Black Mammoth, a financial planning firm focused on holistic wealth management.
- Founder of Calla Capital, applying a family-centric approach to financial planning.
- Host of the No BS Wealth Podcast, where he provides candid insights on financial empowerment.
- Passionate about philanthropy, community engagement, and financial inclusivity.
- An advocate for educating minority communities on wealth creation.
His work is rooted in the belief that wealth is more than just money—it’s about mindset, community, and long-term planning.
The Power of a Business Mindset
One of the first questions I asked Stoy was: What does having a business mindset mean to you?
His answer was profound:
“A business mindset is about focusing on serving others, not just making money. If you focus on solving real problems for people, the money will follow.”
Many entrepreneurs start with the idea of making money first, but Stoy believes that wealth follows when you prioritize impact. He has built his business around this philosophy, focusing on helping individuals, families, and business owners understand their financial options and create meaningful wealth.
Key Takeaway
If you want to succeed in business, start by identifying how you can serve your community or customers first. When you genuinely help others, financial success follows naturally.
Breaking the Cycle of Financial Illiteracy
One of the most eye-opening moments in our conversation was when Stoy described how most people’s financial struggles don’t come from a lack of knowledge—but from deeply ingrained financial habits formed in childhood.
Why Financial Trauma Matters
Stoy explained that most people make financial decisions based on their earliest money memories. He starts his financial planning process by asking his clients:
"What is your first memory of money?"
For some, it’s seeing their parents struggle to pay bills. For others, it’s associating money with stress, fear, or even shame. These early experiences shape our financial behaviors and beliefs, often leading to poor money habits that persist into adulthood.
My Own Financial Upbringing
Stoy’s insights resonated deeply with me. I shared how my parents would go into credit card debt every year to make Christmas special. While they worked hard and provided for us, their financial approach taught me that spending money (even beyond your means) was a way to show love. Over time, I had to unlearn these habits and redefine my own relationship with money.
How to Overcome Financial Trauma
Stoy’s advice? Start by recognizing where your money habits come from. If you understand your financial trauma, you can begin to make conscious, informed decisions rather than emotional ones.
Key Steps to Breaking Financial Trauma:
- Identify your earliest money memory—was it positive or negative?
- Recognize patterns in your financial behavior—do you overspend, avoid money discussions, or struggle with saving?
- Create a new financial narrative—adopt a mindset of abundance and control over your financial future.
- Get a financial support system—work with a planner, mentor, or financial therapist to guide your transformation.
The Modern Family Office: A New Approach to Wealth Management
Many people believe that financial planning is only for the wealthy, but Stoy is challenging that notion with his concept of a "Modern Family Office."
What is a Family Office?
Traditionally, a family office is a dedicated wealth management team for ultra-high-net-worth individuals. They manage everything from investments, tax planning, and estate planning to philanthropy and lifestyle management.
Stoy’s modern take on this concept is making high-level financial planning accessible to everyday people. His firm, Black Mammoth, provides:
✅ Investment planning
✅ Insurance and estate planning
✅ Tax planning
✅ Business financial strategy
✅ Financial mindset coaching
This comprehensive approach ensures that people at all income levels can receive the kind of structured financial guidance that is usually reserved for the ultra-rich.
Taking Action: How to Implement Financial Knowledge
One of the biggest challenges people face isn’t lack of financial knowledge—it’s taking action.
Stoy emphasized that knowing about investments, tax strategies, or savings accounts isn’t enough—you have to actually DO something about it.
How to Take Action on Your Finances
- Stop procrastinating—Set a financial goal TODAY, whether it’s saving, investing, or budgeting.
- Automate good habits—Use automatic savings, investment contributions, or debt payments to stay consistent.
- Get accountability—Surround yourself with people who hold you to your financial goals.
- Educate yourself daily—Follow finance podcasts, YouTube channels, and books to stay informed.
- Work with an expert—A financial advisor or planner can accelerate your progress and keep you on track.
"It’s not just about knowing what to do—it’s about actually doing it." – Stoy Hall
Final Thoughts: The Future of Financial Planning
Stoy’s approach to financial literacy and wealth building is refreshingly different. Instead of focusing solely on investments, he prioritizes mindset, community, and long-term financial wellness.
Key Takeaways from Our Conversation:
✅ A business mindset is about serving others first—the money will follow.
✅ Financial struggles often come from deep-rooted money trauma—understanding your first money memory is key.
✅ A Modern Family Office approach can help everyday people, not just the ultra-rich, take control of their finances.
✅ Taking action is more important than just gaining knowledge—implement what you learn.
✅ Building a financial support network can help you navigate challenges and stay accountable.
If you’re serious about improving your financial mindset and taking control of your wealth, follow Stoy on social media and check out his No BS Wealth Podcast for more insights.
Where to Find Stoy Hall
📌 Website: BlackMammoth.com
📌 Podcast: No BS Wealth Podcast
📌 Social Media: @StoyHall on TikTok, Instagram, Twitter, and YouTube
Let’s Continue the Conversation!
What was your biggest takeaway from this episode? Leave a comment or DM me on social media!
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