The Wealth Stream Podcast

In a world plagued by rising prices, inflation, and interest rates, you can't help but wonder: How will these factors impact the stock market and our financial stability? In this episode, Tim Scannell introduces Michael Shea, the Managing Director of the Investment Solutions Group at Hightower. Michael shares his investment style focused on value and … Read More Read More

What's your take on the importance of infrastructure investment and onshoring for supporting the economy?  In this episode, Tim Scannell invites Stephanie Link, Chief Investment Strategist and Head of Investment Solutions for Hightower, to delve into the services provided by Hightower's asset management business, the importance of research and staying informed about global markets, and … Continue reading Exploring the Current State of the Economy and the Impact of Inflation with Stephanie Link (Ep. 113) →

Successfully exiting your business isn't easily done without the help of other professionals, credible resources, and other business owners who have “been there, done that!” In this episode, Tim Scannell discusses the value of strategic business planning for business owners. They outline the steps involved in valuing and preparing a business for exit, including estimating … Continue reading A Comprehensive Guide to Business Exit Preparation: A Recipe for Business Success (Ep. 112) →

Understanding the complexities of Social Security and effectively planning for taxes can significantly impact your finances during retirement. What factors should we consider and know before that phase? In this episode, Tim Scannell explores tax planning related to Social Security and when to elect it. He delves into the complexity of Social Security, the many … Continue reading Maximizing Social Security Benefits: A Tax Planning Guide (Ep. 111) →

How do you measure success in your business? There isn't one definitive way of measuring the success of your business, however, there are strategies and benchmarks you can use to get an accurate idea of how it is performing. In this episode, Tim Scannell discusses some of the most reliable metrics you can use as … Continue reading The Success Metrics Every Business Owner Should Use (Ep. 110) →

Many financial advisors express great admiration for fiduciaries, while some undermine their significance in the financial industry and argue against their necessity. However, by the conclusion of this episode, you will attain a thorough comprehension of fiduciaries and gain the ability to appreciate the immense value they bring to your financial planning endeavors. In this … Continue reading A Conversation About Fiduciaries With Don Stellin (Ep. 109) →

When someone mentions “taxes” or “tax season”, it may cause you to tense up and feel a wave of stress.  This usually happens when people aren't confident in their tax strategies and worry they may be losing more money than they have to. In this episode, Tim Scannell delves into the world of tax strategies … Continue reading How To Strategize Your Taxes For Maximum Benefit (Ep. 108) →

Lifelong relationships aren't just created outside the workplace. These types of relationships are created with colleagues and clients all the time! In this episode, Tim Scannell discusses how he curates his professional relationships as well as how he helps others find and maintain meaningful relationships, including accountability partners, both in and out of the financial … Continue reading Finding Your Lifelong Accountability Partner (Ep. 107) →

Step into the shoes of a CEO turned retiree who has made the most of his golden years!  Join Tim Scannell as he welcomes Scott Bening, the retired CEO of Monosol, LLC and Amazon Best Selling Author, to the show. Discover how Scott expertly navigated his retirement journey and transitioned into a productive and satisfying … Continue reading Creating A Successful Exit Plan As A CEO With Scott Bening (Ep. 106) →

There's no escaping the dreaded tax season, so you might as well learn how to navigate it efficiently! In this episode, Tim Scannell discusses some of the ways he helps people minimize their taxes during tax season. This includes tax loss harvesting, staying up to date with tax law changes, and so many more of … Continue reading Navigating The Dreaded Tax Season (Ep. 105) →

As a business owner, there may come a time when you start to think about who will replace you and when they will replace you. Whether you have thought about this before or this is the first time you are thinking about it, this episode can help make your transition into retirement much smoother! In … Continue reading 5 Strategies for Identifying Replacements for Business Owners (Ep. 104) →

Are you looking for ways to ensure financial stability for yourself and your family in the upcoming year? Now that we have discussed how to create a year-end financial plan for your business, it's time to discuss how to make a plan for you as an individual! In this episode, Tim Scannell highlights practical strategies … Continue reading Tackling Your Family's Year-End Financial Plan Part 2 (Ep. 103) →

2022 has come to a close, meaning Hightower Great Lakes has received many calls about end-of-the-year financial planning. So what is a year-end plan and how can you create one for your business? In this episode, Tim Scannell discusses some financial tips you should use at the end of each year and how they can … Continue reading Tackling Your Year-End Financial Plan Part 1 (Ep. 102) →

COVID made a mark on just about everything, even business owners. It's time to get your quality of life back. In this episode, Tim Scannell talks about helping business owners plan for 2023 and set a new years resolution to get their lives back. He dips into why money is important for different people, and … Continue reading 3 Steps To Help Business Owners Get Their Lives Back (Ep. 101) →

We've hit our 100th episode of The Wealth Stream Podcast!  Today, we're discussing the impacts inflation can have on business valuations. In this episode, Tim Scannell talks about how to avoid costly mistakes that impact and delay business owners' ability to become financially independent and make work optional. He focuses on ways to help business … Continue reading How Inflation Impacts Your Business Valuations (Ep. 100) →

Inflation is a topic that you can't seem to escape nowadays. Everyone has an opinion on the topic, whether it's the news, your relatives, or someone else. In this episode, Stephanie Link, Chief Investment Strategist and Portfolio Manager at Hightower, joins us to help break down inflation and interest rates. We advise you to turn … Continue reading How To Protect Your Wealth Through Inflation with Stephanie Link (Ep. 99) →

Salary increases are great, but not increasing your savings after one could be hurting you. So what are some of the steps you should take after receiving a raise? This is part two of our two-part episode with Samantha Pietruszynski! Samantha discusses the importance of reallocating your money once you receive a raise so you … Continue reading Avoiding The Common Mistakes People Make After Receiving A Raise With Samantha Pietruszynski PT. 2 (Ep. 98) →

You've worked hard to create the retirement of your dreams, but if you don't know the right strategies to minimize your taxes in retirement, you might not be as well-off as you think. So, how can you maximize the amount of money you keep in retirement? In this episode, fellow Financial Advisor at Hightower, Samantha … Continue reading How to Minimize Taxes In Your Retirement With Samantha Pietruszynski Part 1 (Ep. 97) →

Being empowered as a woman in the male dominated financial industry is easier said than done.  In this episode Tim Scannell chats with coaching leader Dawn Rowley, CoFounder of BenchStrength Coaching and Women Rising. They discuss “Women Rising ” a program created to help women recognize and achieve their highest potential and pursue higher levels … Continue reading Women Rising: A Chat with Dawn Rowley about Women Empowerment (Ep. 96) →

Business owners like you should always be looking for ways to enhance and modernize their skills. But if you don't want to go back to school, how can you do that? In this episode, Tim Scannell is excited to introduce the upcoming launch of his new business owner program and workshop! He then goes on … Continue reading Hightower Great Lakes' New Business Owner Workshop (Ep. 95) →

Everybody has a reason for why they are in the field they are in. What's yours? In this episode, fellow Hightower employee Gina S. discusses the journey that shaped her and her skills into the professional that she is today and how you can strengthen your abilities in your profession as well. Gina discusses: How … Continue reading Becoming A Lifelong Learner with Gina S. (Ep.94) →

Everyone handles their money differently and everyone has different priorities with their money. These are called “money personalities”. In this episode, Tim Scannell discusses how to discover and focus on what is important to you with your money by highlighting the different money personalities he has worked with in his career. Tim discusses: Money personalities … Continue reading Discovering Your Money Personality (EP. 93) →

Consulting is a path you may consider when you retire or exit your business. So what should you take into consideration before committing to the role? In this episode, Tim Scannell discusses what you need to know prior to becoming a consultant post-exit of your business and describes both the pros and cons of the … Continue reading So You Want To Be a Consultant? (Ep.92) →

Part two of “how to create recurring revenue for your business” is here with additional tips and tricks about how you can adopt the subscription-based business model! In this episode, Tim Scannell highlights some well-known companies who have adopted the subscription model and how it changed the landscape of their business. Tim discusses: Major benefits … Continue reading Create Recurring Revenue For Your Business, Part 2 (Ep. 91) →

What are some ways you can enhance your business' services to your customers? Well, in this episode, Tim Scannell provides you information about just that! In Part 1 of this series, Tim discusses the business models companies are adopting to eliminate seasonality and increase customer engagement. Tim discusses: The idea of wealth enhancement – maximizing … Continue reading Create Recurring Revenue For Your Business, Part 1 (Ep. 90) →

Once you have decided what your next passion after business is, the next step is bringing that passion to life. In part two of the Passion Series, Tim Scannell and Stewart McMillan continue to describe the landscape of exiting a business and working toward your next big passion. They also highlight the importance of not … Continue reading Leaping From Your Business to Your Next Passion, Part 2 with Stewart McMillan (Ep. 89) →

A lot of business owners feel like their business is their biggest passion, and they will lose purpose after exiting the business. However, exiting a business can be the perfect opportunity to explore your next big passion! In part one of the Passion Series, Tim Scannell speaks with returning guest Stewart McMillan. Stewart talks about … Continue reading Leaping From Your Business to Your Next Passion, Part 1 with Stewart McMillan (Ep. 88) →

Sometimes, it is hard to find your passion after you have exited your business and retired. Our guest, Rocky Schiralli, discusses how you can maintain purpose and find your new passion once your working days are over.  In this episode, Rocky describes his experience of leaving one workplace and pursuing another business passion. He then … Continue reading The Must-Knows When Starting a Passion Project (Ep. 87) →

Eventually, everyone exits their business.  When that time comes, how can you ensure you're getting the best price possible? What are buyers looking for? In this episode, Tim Scannell runs through the six power ratios that most buyers are going to want to know before they purchase your business. Tim discusses why it's important to … Continue reading The Six Power Ratios for Selling Your Business (Ep. 86) →

People don't like to talk about death and people don't like to talk about money—and people really don't like to talk about these things with their parents. However, sometimes the most important conversations are the ones that are the hardest to have.  In this episode, Samantha Pietruszynski discusses how to approach having “the talk” with … Continue reading Having the “Parent Talk” (Ep. 85) →

Parenthood is a huge step filled with many unknowns. And if you start to consider the financial uncertainty that comes with parenthood, it can start to feel extremely overwhelming. Luckily, it doesn't have to be!  In this episode, Justin McCurdy, co-worker of Tim Scannell, walks through four key areas where you can plan for parenthood … Continue reading Four Ways to Plan for Parenthood (Ep. 84) →

As a business owner, there are plenty of things you need to keep in mind to run your business smoothly. As a result, your exit plan can often go untouched.  However, it is important to think about your exit strategy well before you plan to leave.  In this episode, Tim Scannell lists 10 things that … Continue reading 10 Questions Every Business Owner Should Think About (Ep. 83) →

We all have a freedom point, and for each of us, that point is different. The freedom point of one person is completely different from the freedom point of another. In this episode, Tim Scannell speaks about what he means when he says ‘freedom point' and why it is important in retirement. Tim helps you … Continue reading What To Do When You Hit Your Freedom Point (Ep.82) →

Have you ever thought about nurturing your business like a child, so that when it comes time for you to exit the business, it can be independent and stand on its own? In this episode, Tim Scannell discusses how raising your business as if it were your own child can maximize your value for your … Continue reading Raising Your Business Like Your Child (Ep. 81) →

As a business owner, there are three things you don't want to be overly reliant on when setting up and structuring your business. In this episode, Tim Scannell introduces us to the Switzerland discount, explaining why you want to avoid being Switzerland when it comes to your business. Tim details three things business owners should … Continue reading 80. The Switzerland Discount →

During the pandemic, business owners had to adapt their products and services. What if you could create a product out of your service? In this episode, Tim Scannell shares eight things you can do to create a product out of your services. Many people are shopping online and prefer not to go in-store, creating a … Continue reading 79. Eight Things You Can Do To Turn Your Service Into A Product →

There are plenty of non-business related things business owners think about when planning their exit. Numbers are critical, but they're not everything. Valuing your business is not rocket science, it's more personal. In this episode, Tim Scannell looks at reasons for why business owners choose to exit, their personal motivations, whether there's an event that … Continue reading 78. Valuing Your Business Is Not Rocket Science →

If you own a piece of art or an art collection, you don't want to make the mistake of not properly protecting and insuring your art. There are several measures you should take to protect your art to avoid costly losses and mistakes.  In this episode, Tim Scannell outlines five key mistakes people make trying … Continue reading 77. How You Can Protect Your Art For Future Generations →

The sandwich generation are those adults who are raising their kids while also caring for their aging parents. Naturally, this time period comes with a lot of financial responsibility, among other things. In this episode, Tim Scannell aims to help the sandwich generation manage the financial situations of both their family and their parents. Tim … Continue reading 76. Five Key Areas to Consider For the Sandwich Generation →

As a business owner, exit planning is something that you only get one shot at. Have you considered growth through acquisitions as an exit plan? In this episode, Tim Scannell is joined by Laurie Barkman, founder of SmallDotBig to discuss growth through acquisitions as a means of succession and exit planning for business owners. Laurie … Continue reading 75. Learn How to Grow to Exit With Laurie Barkman →

Setting up a special needs trust for your child with special needs is always a tough conversation to have. But having that conversation in the first place goes a long way in easing stress about the future. In this episode, Tim Scannell is joined by Keith Wolak, an attorney and Certified Public Accountant at Hoeppner … Continue reading 74. How to Secure a Future For Your Special Needs Child With Keith Wolak →

Many people share similar concerns about their finances, like ensuring you have enough money to meet all your monthly needs, and ensuring you have enough money to retire comfortably. But what about the wealthy? Are there specific financial concerns that only pertain to them? In this episode, Tim Scannell looks at five financial concerns he … Continue reading 73. Five Key Financial Concerns for The Wealthy →

Are you busy serving clients, managing operations, and growing your business? It's time for you to take a step back and think about your exit strategy—even if it's still years away. In this episode, Tim Scannell discusses why it is never too early to start your succession planning. Using a detailed client example, Tim explains … Continue reading 72. It's Never Too Early To Build Your Business's Succession Plan →

When experiencing economic downturns or just shifts in the market, it's important to not allow emotions to run your decision making. In this episode, Tim Scannell introduces listeners to Donald Stellin, a financial advisor for Hightower Great Lakes. Don shares his love for not only helping his clients achieve their financial goals, but also his … Continue reading 71. Meet Donald Stellin of Hightower Great Lakes →

Running a family business is complex—it's easy to overlook simple things and then find your business in a complicated scenario. In this episode, Tim Scannell shares three critical wealth planning mistakes he sees family business owners make. Tim walks you through each mistake and provides an example that showcases the types of issues that may … Continue reading 70. 3 Critical Wealth Planning Mistakes Family Business Owners Make →

Samantha Pietruszynski is in the hot seat today, she's kicked Tim out of the interview chair! She is an associate wealth advisor for Hightower Great Lakes and she has brought along Wesley Barnes, Chief Operating Officer of Hightower Great Lakes. In this episode, Samantha introduces us to Wes, we learn about his journey to becoming … Continue reading 69. Meet Wesley Barnes of Hightower Great Lakes – With Wesley Barnes →

Policy changes can affect numerous things, and for Blair Anderson, knowing everything there is to know is something he strives to be on top of when those changes happen.  In this episode, Tim Scannell introduces listeners to Blair Anderson, CEO and partner at Hightower Great Lakes. Blair shares a bit about his history as an … Continue reading 68. Meet Blair Anderson of Hightower Great Lakes – With Blair Anderson →

Being a business owner can get lonely. When you want to talk about ideas, it's better to discuss with your peers. In this episode, Tim Scannell talks all about mastermind groups, shares details about a group he is running, and how mastermind groups come to fruition. Tim explains the process of forming a mastermind group … Continue reading Episode 67 – Why Mastermind Groups are Great for Business Owners →

Financial planning is important, no matter what stage of life you are in. So as a youth who has just begun accumulating wealth, what are some key financial decisions you need to think about? In this episode, Tim Scannell and Justin McCurdy, associate wealth advisor at Hightower Great Lakes, answer this question. Going through the … Continue reading Episode 66 – How To Secure Your Financial Future as a Young Person – With Justin McCurdy →

At a year under lockdown, new and innovative virtual platforms have now made several opportunities accessible from the comfort of your home. We believe that this virtual trend is here to stay. In this episode, Tim Scannell takes a break from the financial planning side of things. Instead, he shares exciting virtual opportunities that he … Continue reading Episode 65 – Explore, Learn, and Interact From the Comfort of Your Home →

Have you heard of the “pandemic puppy?” The pet adoption rates saw a sharp spike during COVID-19. After all, a furry friend would make the lockdown less lonely, right? But – owning a pet comes with several financial responsibilities! In this episode, Samantha Pietruszynski, an associate wealth advisor at Hightower Great Lakes, helps you navigate … Continue reading Episode 64 – Can You Afford a Pet? – With Samantha Pietruszynski →