Podcasts about cfp

Nobody skips reading a contract because they're careless. Contract attorney Leo Mann spent 30 years writing the fine print that governs leases, car loans, job offers, and gym memberships, and he says the reason smart people sign blind isn't laziness at all. It's four specific psychological pressures, engineered on purpose, stacked on top of each other in the exact moment you're handed the paperwork. Today he walks through exactly how those tricks work, and more importantly, how to spot them before you sign away something you'll regret.What You'll Walk Away WithThe four psychological traps, stacked together on purpose, that get otherwise careful people to sign without readingWhy the phrase "this is standard" should be one of the biggest red flags in any negotiationA green flag, yellow flag, red flag rundown of common contract moments, from blank spaces to rush deadlines to page-by-page initialsThe hidden clause in shared leases that can leave one person legally responsible for an entire group's unpaid rentWhy the number on the front page of a lease or job offer is often just marketing, and where the real total actually livesThe critical difference between an employment offer letter and the actual employment agreement, and why only one of them is legally bindingWhy severance is almost always more negotiable than employers make it seem, and the two questions worth asking about any financial product before you commitWhy This Matters NowEvery adult signs dozens of contracts over a lifetime, apartment leases, car loans, job offers, gym memberships, and the fine print in most of them is written to be skimmed, not read. That's not an accident, and it's not really about intelligence or diligence either. It's about recognizing the exact moments you're being nudged to move fast, and knowing which few sentences in a stack of paperwork actually matter. A little contract literacy doesn't just protect your money, it gives you real leverage the next time someone slides a stack of paper across the table and says, "just sign here."From the BasementA headline about Pepsi's infamous 1996 fighter jet promotion becomes the day's trivia detour, proving that even the biggest brands occasionally get burned by their own fine print, right alongside the rest of us.Resources MentionedDon't Sign That by Leo Mann — Leo's #1 bestselling guide to consumer contractsThe Contract Literacy Movement — Leo's initiative teaching everyday people to read what they signStacking Benjamins Field Kit — the all-in-one budgeting, credit monitoring, and financial tracking toolStacko Financial Action Month board — the interactive game with a money move for each squareSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Learn how to save for a home, pursue FIRE, and quiet money anxiety when every goal feels urgent at once. What does it really take to balance saving for a first home, building toward early retirement, and spending without guilt — when every goal feels like it needs to come first? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola sit down with listener Hana from Portland, a super-saver putting away over $4,000 a month who still worries she's falling short. They dig into how much she actually needs for a down payment and closing costs, what makes a home a money pit rather than a sound investment, how to prioritize competing goals like the HSA, 401(k), Roth IRA, and house fund, and what it really takes to hit FIRE in 15–20 years — plus the money anxiety that makes even high savers second-guess every dollar they spend on fun. See how far your homebuying budget could take you with NerdWallet's free home affordability calculator: https://www.nerdwallet.com/mortgages/calculators/how-much-house-can-i-afford  Buying a home? Estimate the closing costs for a house of any value with this calculator: https://www.nerdwallet.com/mortgages/calculators/closing-costs  Mortgage Closing Costs: How Much You'll Pay https://www.nerdwallet.com/mortgages/learn/closing-costs-mortgage-fees-explained  First-Time Home Buyer Loans and Programs: A Beginner's Guide https://www.nerdwallet.com/mortgages/learn/programs-help-first-time-homebuyers  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money's YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

The S and P 500 was relatively unchanged as growing artificial intelligence optimism among investors was measured against tensions in the Middle East, Anthropic's second-quarter revenue was more than 11.5 billion dollars which is a massive jump from a year earlier, Saturday September 12th at 10am is the Taxes in Retirement seminar with EP Wealth Advisors and CFP's Ryan Ignacio and Julie Chan-O'Rourke at the Don Tatzin Community Hall at the Lafayette Library

The S and P 500 was relatively unchanged as growing artificial intelligence optimism among investors was measured against tensions in the Middle East, Anthropic's second-quarter revenue was more than 11.5 billion dollars which is a massive jump from a year earlier, Saturday September 12th at 10am is the Taxes in Retirement seminar with EP Wealth Advisors and CFP's Ryan Ignacio and Julie Chan-O'Rourke at the Don Tatzin Community Hall at the Lafayette LibrarySee omnystudio.com/listener for privacy information.

Strong Market Breadth The market typically begins to experience greater volatility around this point in midterm election years. However, one encouraging development is the strength and breadth of current market momentum. The S&P 500 continues to show broad participation, with the highest percentage of stocks trading above their 200-day technical moving average since 2024. Currently, approximately 74% of stocks are above their 200-day moving average. Broad participation like this is generally a positive sign for the overall health of the market. The internal momentum of the S&P 500 is also strengthening. Nine of the 11 sectors are showing better momentum than they were on June 22, with only energy and utilities showing weaker momentum. Taken together, these indicators point to a market with strong underlying momentum. While volatility can increase as the midterm elections approach, the current breadth of participation provides an encouraging foundation. For now, momentum is our friend. Inflation Continues to Evolve The latest Consumer Price Index, or CPI, provided some encouraging news on the inflation front. July CPI increased 0.1%, in line with expectations, bringing the year-over-year increase to approximately 3.5%. The fact that inflation did not come in higher than expected is important. While inflation remains elevated, the latest reading does not suggest that prices are accelerating rapidly. For investors and consumers, however, the headline CPI number is only part of the story. Two important questions are what the Federal Reserve makes of the data and how inflation is affecting people in their everyday lives. The outlook for Federal Reserve policy has shifted as inflation data has evolved. At one point, markets were pricing in roughly a 50% chance of a rate hike at the Fed's September 16 meeting. Those odds rose to approximately 52% about a week ago but have since fallen to around 30%. Current expectations suggest that there may be one rate hike toward the end of the year, although there is still significant time for the outlook to change. Another useful measure is the “Common Man's CPI,” a proprietary index from Strategas that focuses on essential expenses, including food, energy, shelter, insurance, and children's clothing. These are expenses consumers generally cannot avoid or easily postpone. The Common Man's CPI increased 3.5% year-over-year in July, down from 3.7% in June and 4.6% in May. That deceleration is encouraging, but the longer-term impact of inflation remains significant. Since the middle of 2020, the Common Man's CPI has increased approximately 32%, while wages have risen about 28%. That gap helps explain why many consumers continue to feel the effects of inflation even as the rate of price increases slows. Prices may be rising more slowly, but wages have not yet fully caught up with the cumulative increase in the cost of essential goods and services. The trajectory of both inflation and wages will remain important as the year progresses. The Fed's Other Inflation Tool The Federal Reserve has several tools available to influence the economy, but two of the most important are interest rates and the Fed's balance sheet. Interest rates influence economic activity by making borrowing more or less expensive. The balance sheet works differently. When the Fed adds money to the financial system, it can support economic growth. When it reduces the amount of money in the system, it can help restrain growth and inflation. This second tool receives considerably less attention because its effects are less visible to consumers. Interest rates are relatively easy to understand because they directly affect mortgages, savings accounts, credit cards, and other forms of borrowing. The balance sheet is much less tangible. Earlier this year, the Federal Reserve was expanding its balance sheet through a process referred to as monthly net reserve management. The terminology is intentional because quantitative easing, or QE, has developed a negative association following the significant monetary stimulus implemented during the COVID-19 pandemic. Through net reserve management, the Fed injects capital into the banking system by purchasing Treasury securities from banks and replacing those securities with cash. Maintaining sufficient liquidity in the banking system is important, particularly during periods when large amounts of money are flowing out of the system for purposes such as tax payments. Beginning in December, the Fed was injecting approximately $40 billion per month into the banking system. That pace subsequently began to taper as leadership at the Federal Reserve changed. New Fed Chair Kevin Warsh has written extensively about the size of the Federal Reserve's balance sheet and the importance of eventually reducing it. One concern with simultaneously raising interest rates while expanding the balance sheet is that the two policies can work against one another. Higher rates are intended to slow economic activity, while an expanding balance sheet can add liquidity to the financial system. Under the current approach, the Federal Reserve has moved toward stopping the expansion of its balance sheet before relying more heavily on interest-rate increases. August marks the first month since the beginning of the year in which the balance sheet is not expected to expand. The implications could be important for consumers and the broader economy. Consider a simple example. If a consumer earns $100 per week and spends $50 on gasoline and $50 on groceries, an increase in gasoline prices to $60 would leave only $40 available for groceries. Unless the consumer has additional money to spend, higher costs in one area can lead to reduced spending elsewhere. Economists refer to this as demand destruction. For broad-based inflation to persist across the economy, there generally needs to be enough money available to sustain demand even as prices rise. If the money supply increases, a consumer who previously had $100 to spend might instead have $110, allowing spending to continue despite higher prices. That dynamic has been evident in recent economic data. As gasoline prices increased, spending in areas such as leisure and hospitality and retail sales remained surprisingly resilient. Ordinarily, higher gasoline costs might be expected to reduce spending elsewhere, but that demand destruction has been limited. One possible explanation is the additional liquidity that has been present in the financial system. August provides an important test. For the first time this year, the economy is facing higher energy prices without the same additional expansion of the Fed's balance sheet. That creates an opportunity to observe whether demand begins to weaken in other areas of the economy. How that dynamic develops could have meaningful implications for economic growth, inflation, and ultimately the stock market. Greg Powell, CIMA® President and CEO Wealth Consultant Email Greg Powell here Bobby Norman, CFP®, AIF®, CEPA® Managing Director Wealth Consultant Email Bobby Norman here Trey Booth, CFA®, AIF® Chief Investment Officer Wealth Consultant Email Trey Booth here Ty Miller, AIF® Vice President Wealth Consultant Email Ty Miller here Fi Plan Partners is an independent investment firm in Birmingham, AL, with a team of professionals serving clients across the nation through financial planning, wealth management and business consulting. The team at Fi Plan Partners creates strategies in the best interest of their clients using fee based investing. The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. Economic forecasts set forth in this presentation may not develop as predicted. No strategy can ensure success or protect against a loss. Stock investing involves risk including potential loss of principal. Securities and advisory services offered through LPL Financial, Member FINRA/SIPC and a registered investment advisor.The post Momentum is our Friend first appeared on Fi Plan Partners.

Think you know how Social Security calculates your benefit? Chances are, you're missing at least one piece of the puzzle. Host Robert Brokamp takes a listener's real-world question and turns it into a clear, step-by-step guide to how your benefit is actually built. Key concepts discussed:-The “35 highest-earning years” rule—demystified: How Social Security treats your top earning years, wage inflation adjustments, and what “zero years” can do to your average.-AIME, bend points, and PIA: The three core building blocks of your benefit and why the formula is designed to replace a higher share of income for lower earners.-Claiming strategy matters more than you think: How taking benefits early vs. waiting (up to age 70) permanently changes your payout—and why family benefits (spousal/survivor) should be part of the decision.-How to estimate your benefit with better tools: Where the Social Security statement can mislead (especially if income will drop later), plus the best calculators and resources to model realistic future earnings and claiming ages.Host: Robert Brokamp, CFP®, EAEngineer: Bart Shannon and Kristi Waterworth Disclosure: Advertisements are sponsored content and provided for informational purposes only. The Motley Fool and its affiliates (collectively, “TMF”) do not endorse, recommend, or verify the accuracy or completeness of the statements made within advertisements. TMF is not involved in the offer, sale, or solicitation of any securities advertised herein and makes no representations regarding the suitability, or risks associated with any investment opportunity presented. Investors should conduct their own due diligence and consult with legal, tax, and financial advisors before making any investment decisions. TMF assumes no responsibility for any losses or damages arising from this advertisement. We're committed to transparency: All personal opinions in advertisements from Fools are their own. The product advertised in this episode was loaned to TMF and was returned after a test period or the product advertised in this episode was purchased by TMF. Advertiser has paid for the sponsorship of this episode. Learn more about your ad choices. Visit megaphone.fm/adchoices Learn more about your ad choices. Visit megaphone.fm/adchoices

Miami Dolphins get ready for the Commanders tonight what we'll see, Manny Navarro talking Canes, Jayen Daniels statement, 3A Grapix Sports Calendar, Today in Music History, Birthdays in Music and Entertainment, Seahawks sign an alleged criminal, Aikman's honesty is refreshing, WNBA's Carrington screws up AGAIN, The 5-Teams who are unranked and could be in the CFP, Bill Zito does the things Riley can't do anymore or the Dolphins constantly fail in and more!

There's a version of financial responsibility that looks a lot like discipline but can quietly become something else: an inability to ever stop optimizing. Chasing 0.2% more interest. Driving fifteen minutes out of the way for cheaper gas. Budgeting so tightly that a $5 bottle of multivitamins feels like a crisis. Wealthy Kids Club founder Maya Corbic joins Carol Ann Desiderio and Jesse Cramer for a genuinely fun debate about where the line actually sits, and what over-optimizing quietly costs when nobody's counting it.What You'll Walk Away WithA simple test for telling the difference between smart optimization and time-wasting perfectionismWhy budgeting "until it hurts" can quietly damage your relationship with money more than it helpsThe real math behind small optimizations, like driving out of your way for cheaper gas or chasing a slightly higher savings rate, and when they're actually worth itA reframe on "one more year" retirement thinking that flips the entire question aroundWhy letting kids make small, reversible money mistakes teaches more than any lecture ever couldThe surprising overlap between "still researching the best option" and simply avoiding a decisionWhy the biggest lever in your investment returns has almost nothing to do with picking the "best" individual stockWhy This Matters NowIt's easy to assume that more research, more comparison, more fine-tuning always makes for a better financial decision. But there's a point where that instinct stops protecting you and starts costing you, in time, in joy, and sometimes in the decision never actually getting made at all. Recognizing when a plan is genuinely good enough isn't giving up. It's redirecting your energy toward the things optimization can't fix: time with people you love, work that fulfills you, and a life that isn't built entirely around squeezing out one more percentage point.From the BasementA wild detour into the 1964 Great Plymouth Mail Truck Robbery keeps the crew's year-long trivia race razor close, while an entirely unrelated cookie heist upstairs in mom's kitchen proves that not every optimization scheme goes according to plan.Resources MentionedWealthy Kids Club — Maya Corbic's family financial education programPersonal Finance for Long-Term Investors podcast — Jesse Cramer's show, referenced episode: "Is My DIY Financial Plan Working?"Stacking Benjamins Benjamins After Dark meetups — local in-person Stacker meetup groups, including BostonGranola — AI-powered meeting notes tool mentioned in the sponsor breakSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

How much money do you really need to retire? Headlines touting a retirement “magic number” may do more harm than good, especially when an intimidating savings target becomes an excuse to give up. Richard Rosso & Jonathan McCarty explain why successful retirement planning isn't about reaching one arbitrary number. It's about building sustainable income around your actual spending, lifestyle, Social Security benefits, savings, and other resources. We also examine why many older workers now view Social Security as their retirement plan, whether Social Security alone can provide enough income, and how to build a realistic retirement strategy even if you're starting later or haven't saved as much as you hoped. The goal isn't to hit someone else's magic number. It's to create a retirement plan that works for you. 0:00 INTRO 0:48 - Social Security DLS Recap, Medicare Preview 3:29 - Financial Literacy Continues to Fall 6:35 - The 60/40 Portfolio kind of sucks this year 9:53 - Rampant Market Gambling - 11:01 - Investors are Keeping too Much Cash 13:41 - Mistakes People Make 17:19 - The Private Credit Mistake 22:49 - The Retirement Magic Number Fallacy 29:00 - Social Media & Reels 31:30 - Social Security Decisions 33:16 - Terrible Advice abounds - "Boiler Room" Hosted by RIA Advisors' Director of Financial Planning, Richard Rosso, CFP, w Senior Investment Advisor, Jonathan McCarty, CFP Produced by Brent Clanton, Executive Producer ------- Do you enjoy our content? Rate us on Google: https://bit.ly/4b9JtEo ------- Watch Today's Full Video on our YouTube Channel: https://youtube.com/live/vjIZ60E3B0I?feature=share ------- Articles mentioned in this report: "Abel Takes Charge at Berkshire Hathaway" https://realinvestmentadvice.com/resources/blog/abel-takes-charge-at-berkshire-hathaway/ -------- Watch our previous show, " ?" ------- Get more info & commentary: https://realinvestmentadvice.com/insights/real-investment-daily/ ------- * REGISTER for our next Dynamic Learning Series, "Savvy Medicare Planning: Everything You Need to Know Before You Enroll," Thursday, August 20, 2026: https://streamyard.com/watch/Qjx33M2tS4i4 --- Visit our Site: https://www.realinvestmentadvice.com Contact Us: 1-855-RIA-PLAN --- Subscribe to SimpleVisor : https://www.simplevisor.com/register-new --- Connect with us on social: https://twitter.com/RealInvAdvice https://twitter.com/LanceRoberts https://www.facebook.com/RealInvestmentAdvice/ https://www.linkedin.com/in/realinvestmentadvice/ #RetirementPlanning #SocialSecurity #RetirementSavings #PersonalFinance #FinancialPlanning

Guest: Peyton Hoppes, ProVest Wealth Advisors (Spartanburg, SC)Episode SummaryDavid sits down with longtime friend and fellow financial advisor Peyton Hoppes to talk shop. Peyton recently joined ProVest Wealth Advisors in Spartanburg, SC, where he and colleague Gabe are stepping in to take over the client relationships of a retiring advisor. The two dig into what they're seeing with clients day-to-day: how busy families in their "formation years" actually manage cash flow, the real difference between Roth and pre-tax retirement accounts (and when each makes sense), and — for anyone who's ever dreamed of owning a beach house — a breakdown of the smartest (and riskiest) ways to actually pay for one.Key TakeawaysPurposeful money management beats default money management. Peyton runs a system of segregated accounts (savings, taxes, vacation/project fund) so every dollar has a job — and vacations get booked only once the savings cover them.Family formation years (roughly age 28–47) are the most expensive of your financial life. Most people's spending peaks here, then tapers as kids move out.Wealth isn't a number — it's time. Peyton's definition: wealth is the amount of time you can spend not working, not a dollar figure on a screen.Roth vs. pre-tax isn't a "which is better" question — it's a "which serves this purpose" question. Younger earners in lower tax brackets often benefit more from brokerage/Roth flexibility than maxing out pre-tax accounts; higher earners in higher brackets benefit more from pre-tax now with planned Roth conversions later.The three-bucket strategy: pre-tax, Roth (post-tax), and brokerage (post-tax, flexible) — where you focus your dollars should shift as your income and life stage change.Funding a dream property (like a beach house) has real tax tradeoffs. David and Peyton walk through three scenarios: cashing out a brokerage account (and eating the capital gains tax), a HELOC against your primary residence, and a securities-backed line of credit — each with very different risk profiles.Late-in-life cash flow planning is about spending well, not just accumulating. For those in their late 60s+ with fixed income covering expenses, the conversation shifts to strategic giving and enjoying wealth now rather than only growing net worth.About Peyton HoppesPeyton recently joined ProVest Wealth Advisors in Spartanburg, SC, focusing on families with busy lives and high financial complexity — business owners, medical professionals, and families with special-needs children. He and David worked together for several years before Peyton's move.Connect with Peyton:Email: peyton@provestwealth.comLinkedIn: Peyton HoppesWebsite: provestwealth.com

Learn why a 69-year-old retiree is returning to work and why homeowners are staying put in a stuck housing market. What happens when your nest egg doesn't grow fast enough to support your retirement? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola talk with a 69-year-old listener who's returning to work after years of overly conservative investing left her savings falling behind. NerdWallet Wealth Partners CEO Ryan Sterling joins the conversation to help her think through how much investment risk to take at this stage, what required minimum distributions will mean for her taxes, and whether working even a little longer could change her outlook. Then: why does it feel so hard to find a home to buy right now? Senior news writer Anna Helhoski talks with NerdWallet mortgage writers Abby Badach Doyle and Kate Wood about why so many homeowners are choosing to stay put — and how that's limiting the number of homes on the market for everyone else. NerdWallet Wealth Partners, LLC is an affiliate of NerdWallet Inc. NerdWallet Wealth Partners is a fiduciary online financial advisor, offering low-cost, comprehensive financial advice and investment management. Learn more at nerdwalletwealthpartners.com/smart  The NerdWallet Homebuying Climate Index tracks how favorable conditions are for home buyers each month: NerdWallet Homebuying Climate Index Subscribe to our podcast's free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.com/  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money's YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices

After spending decades accumulating wealth, shifting into retirement spending can be more difficult than expected. For many retirees, the challenge is not simply determining whether they have enough assets. It is becoming comfortable using those assets without feeling that they are jeopardizing the future. Derek Gabrielsen, CRPC®, and Dave Abate, CFP®, discuss the psychology behind this transition and the role a financial plan can play in evaluating spending decisions. The conversation covers retirement anxiety, individualized spending goals, stress testing, withdrawal sequencing, tax efficiency, lifestyle expenses, and the balance between enjoying wealth today and preserving assets for future generations. This episode offers perspective for investors considering what they ultimately want their retirement assets to accomplish and how a financial plan can help bring structure to those decisions.

Fresh all-time intraday high as oil prices declined to 87 dollars a barrel and traders digested more inflation data, Taking a look at the new Apple Watch, This Saturday's event has been cancelled but coming up Saturday September 12th at 10am is the Taxes in Retirement seminar with EP Wealth Advisors and CFP's Ryan Ignacio and Julie Chan-O'Rourke at the Don Tatzin Community Hall at the Lafayette Library

There's a particular kind of quiet worry that comes with being Childfree, the suspicion that everyone else received some piece of wiring you're missing. Dr. Amy Blackstone spent her mid-30s certain she was broken as a woman, and she went looking for the research to explain what had gone wrong with her. What she found became her life's work. There is no maternal instinct waiting to switch on, and the majority of Childfree people she interviewed had opted out for a reason that genuinely surprised her: they watched their parents do it well, understood exactly what good parenting asks of a person, and chose to put their energy somewhere else. She joins Dr. Jay Zigmont, CFP® for a conversation that runs from the political noise around falling birth rates to what the research actually says about regret, and lands on the thing that reframes everything. If you feel wrong, it may be because you've been measuring yourself against the wrong population.In This Episode, You'll Learn:Why there is no scientific basis for the maternal instinct, and how the absence of that supposed pull leaves so many people convinced something is wrong with themThe biggest surprise in Dr. Amy Blackstone's research, that most Childfree people she interviewed had good childhoods and opted out precisely because they saw how much good parenting requiresWhat the research actually shows about regret, why the distinction between Childfree and Childless matters so much, which group does report unhappiness later in life, and how that compares to the share of parents who regret having kidsWhy measuring your life against the standard life script guarantees you'll feel like you're doing it wrong, and how comparing yourself to the right population changes the entire pictureHow stigma around the Childfree choice has shifted over the decades, what today's pronatalist politics and policy fights look like, and why roughly a quarter of the country remains almost entirely underservedResources Mentioned: Laura Carroll, Childfree author and advocate who revitalized International Childfree Day: https://childfreeinsights.com/resources/podcast/episode-74/ Marcia Drut-Davis, author of Confessions of a Childfree Woman:https://www.amazon.com/stores/Marcia-Drut-Davis/author/B08429L4CL The Childfree Path to a Healthier Planet | Jay Zigmont, PhD, MBA, CFP® | TEDxWilsonPark: https://youtu.be/ltZpfHCpHPg?si=38LrZlkf4oMGWyE8 Episode Guest:Dr. Amy Blackstone is a public sociologist who studies and writes about reproductive justice, population trends, workplace sexual harassment, activism and other forms of civic engagement, power and politics, and any other topic that strikes her fancy, hits the news, or gets myopic dingdongs with too much power riled up. In recent years, much of her focus has been dedicated to the COVID-19 pandemic and what's been left in its wake: a silent but no less crushing aftershock, an illness known as Long COVID, that has claimed millions, snatching her from public life, while the world carries on as if nothing has happened. Her book, CHILDFREE BY CHOICE (Penguin Random House) enraged pronatalists the world over, a career highlight. Dr. Blackstone worked as a professor of sociology at the University of Maine for a quarter century and she now looks forward to a future of retirement and troublemaking.Connect with Dr. Amy Blackstone:Website: amyblackstonephd.com Instagram: instagram.com/a.maria.blackstone/ Childfree by Choice by Dr. Amy Blackstone https://www.amazon.com/stores/Amy-Blackstone/author/B07T7TM4DT Episode Host:Dr. Jay Zigmont, CFP® (he/him) is the Founder of Childfree Wealth, a life and financial planning firm dedicated to helping people simplify their finances so they can live an amazing Childfree life. Dr. Jay is a CERTIFIED FINANCIAL PLANNER®, Childfree Wealth Specialist, and author of the book "The Childfree Guide to Life and Money."About Childfree Insights:Childfree Insights focuses on planning for solo aging and later life without children. It offers trusted education on financial planning, estate planning, and building support systems for people aging independently. Home of Childfree Wealth® and Childfree Trust®.Connect with Us:Ready to work on building better financial habits? Connect with our financial planning team at childfreewealth.com or learn more about estate planning at childfreetrust.com.Follow Childfree Life by Design on your favorite podcast platform and join the conversation on social media:Instagram: https://www.instagram.com/childfreeinsightsFacebook: https://www.facebook.com/ChildfreeInsights/LinkedIn: https://www.linkedin.com/company/childfreeinsightsYouTube: https://www.youtube.com/@ChildfreeInsightsDisclaimer: This podcast is for educational & entertainment purposes. Please consult your advisor before implementing any ideas heard on this podcast.

Patrick Larkin, Partner & Practice Leader, Cerity Partners Three years after launching his independent RIA, Patrick Larkin merged with Cerity Partners—but not because that was the original plan. He explains how ownership changed the way he viewed enterprise value, optionality, and the future of his business. In Summary Going independent is often viewed as the destination. Patrick Larkin discovered it was just the beginning. Louis sits down with Patrick, Partner and Practice Leader at Cerity Partners and former founder of Oak Hill Wealth Advisors, to discuss an unconventional journey: leaving Wells Fargo to build an independent RIA, then choosing to merge that business just three years later. Rather than following a predetermined exit strategy, Patrick shares how ownership fundamentally changed the way he thought about enterprise value. A conversation with a prospective acquirer revealed that buyers weren't interested in purchasing a book of business—they were looking for a business. That realization reshaped how he invested, hired, delegated, and ultimately positioned his firm for the future. The conversation from our Build Grow & Transact series also offers a candid look at life after a merger, from evaluating cultural fit and partnership to balancing autonomy with the resources of a larger organization. More broadly, it illustrates how ownership creates optionality—and why the most valuable decision an advisor makes may not be the one they originally envisioned. The Storyline After spending nearly 15 years building a successful practice at AG Edwards, Wachovia, and Wells Fargo, Patrick Larkin launched Oak Hill Wealth Advisors in 2022 with a simple objective: build a business on his own terms. Like many advisors, he expected independence to be the final destination for a long time. But then there was the realization that ownership changes more than economics; it changes perspective. And it became the beginning of an entirely different way of thinking. As acquisition inquiries arrived sooner than expected, Patrick realized something that fundamentally changed his strategy. Sophisticated buyers weren't evaluating his client relationships as a book of business; they were evaluating Oak Hill as an enterprise. That insight shifted his priorities from maximizing short-term profitability to building a business that could thrive beyond its founder. Just three years after launching, Patrick chose to merge with Cerity Partners—not because he was looking for an exit, but because he believed it strengthened the future for his clients, his team, and his family. Louis and Patrick explore what led to that decision, how ownership increased the value of his business almost immediately, why he compares independence to an IPO, and what advisors should consider if they hope to create options for the future—even if they don't yet know what that future looks like. Topics Covered Building enterprise value versus maximizing annual income Creating optionality through ownership Leaving Wells Fargo to launch an independent RIA Why buyers value businesses more than books of business Evaluating strategic partners and acquisition opportunities The economics of independence and business valuation Life after merging with Cerity Partners Balancing autonomy with enterprise-scale resources Leadership, succession, and building beyond the founder Long-term ownership and partnership models > Download a transcript of this episode… Listen and Learn Highlights for Advisors Why did Patrick decide to leave Wells Fargo? (11:07) Patrick explains why growing frustrations around control, firm priorities, and the ability to build his business eventually outweighed the comfort of staying put. How did going independent immediately change the value of his business? (21:42) Patrick introduces one of the episode's biggest ideas: why launching Oak Hill felt like taking a company public and how ownership increased the firm's value almost overnight. Why did Patrick sell only three years after becoming independent? (20:03) An unexpected conversation with a prospective acquirer completely changed how he viewed enterprise value and accelerated his long-term thinking. What separates a business from a book of business? (21:42) Patrick discusses why recruiting advisors, delegating client relationships, and investing beyond himself made Oak Hill more attractive to strategic buyers. Why Cerity Partners? (26:48) Rather than focusing on valuation, Cerity emphasized culture, partnership, and long-term alignment—qualities Patrick says ultimately mattered most. What is life actually like after a merger? (37:57) Patrick offers an unusually candid perspective on autonomy, leadership, and why he says he hasn't second-guessed the decision once. Key Takeaways Ownership creates opportunities that often aren't visible until after independence. Enterprise value is built by creating a business that can thrive beyond its founder. The first acquisition conversation can be valuable even if no transaction occurs. Cultural alignment may ultimately matter more than valuation when selecting a long-term partner. Independence doesn't eliminate future options—it expands them. Strategic transactions can strengthen outcomes for clients, employees, and owners simultaneously. The goal isn't simply to own a business; it's to create choices for what comes next. https://youtu.be/f7FGLGjBbyo Quotable Moments “The day Oak Hill launched felt like the business had gone public.” “Potential acquirers weren't interested in buying a book. They were interested in buying a business.” “Ownership isn't simply about control. It's about creating optionality.” “The fear of leaving is almost always worse than the actual experience of leaving.” FAQs Why did Patrick Larkin merge with Cerity Partners only three years after launching his RIA? Patrick explains that independence changed how he viewed enterprise value. After learning what sophisticated buyers were actually looking for, he intentionally built Oak Hill as a business rather than simply managing for annual profitability. Why does Patrick compare independence to an IPO? Because ownership immediately transformed the economic value of his practice. Rather than participating in an internal succession model, he owned an independent enterprise that carried substantially greater market value. What changed after Patrick became independent? Beyond gaining control, he began making decisions through the lens of enterprise value—investing in advisors, systems, and infrastructure that would make the business less dependent on him personally. What made Cerity Partners stand out? Patrick cites the firm's culture, partnership model, meritocracy, long-term vision, and ability to combine local autonomy with enterprise-level capabilities. Is this episode only relevant for advisors considering selling? No. The broader lesson is that ownership creates flexibility. Whether an advisor ultimately remains independent or joins another organization, understanding how enterprise value is created can influence decisions from day one. What is the biggest lesson Patrick hopes advisors take away? That independence isn't simply about leaving a firm. It's about creating the ability to choose what comes next on your own terms. Patrick explains that independence changed how he viewed enterprise value. After learning what sophisticated buyers were actually looking for, he intentionally built Oak Hill as a business rather than simply managing for annual profitability. Because ownership immediately transformed the economic value of his practice. Rather than participating in an internal succession model, he owned an independent enterprise that carried substantially greater market value. Beyond gaining control, he began making decisions through the lens of enterprise value—investing in advisors, systems, and infrastructure that would make the business less dependent on him personally. Patrick cites the firm's culture, partnership model, meritocracy, long-term vision, and ability to combine local autonomy with enterprise-level capabilities. No. The broader lesson is that ownership creates flexibility. Whether an advisor ultimately remains independent or joins another organization, understanding how enterprise value is created can influence decisions from day one. That independence isn't simply about leaving a firm. It's about creating the ability to choose what comes next on your own terms. Related Resources From Start-Up to $31B Behemoth RIA: The Catalysts Behind the Growth of Mega-Firm Cerity Partners Ownership Matters: What Advisors Need to Know When Evaluating Firms Top Tips for Setting Your Business Up for Success Years Before a Move Patrick LarkinPartner and Practice Leader Patrick is a Partner and Practice Leader in the Lansdowne, VA office. He is a member of the Lansdowne Practice, where he works closely with families, foundations, and non-profits to help them define and achieve their financial goals with clarity and confidence. With a deep specialization in retirement income distribution planning and complex risk and wealth management strategies, Patrick is known for helping clients simplify complicated financial decisions, reduce uncertainty, and build sustainable, long-term plans. His approach emphasizes fiduciary responsibility, transparency, and personalized guidance — ensuring clients always feel informed and empowered. Prior to joining Cerity Partners, Patrick was the founding member of Oak Hill Wealth Advisors, where he built a highly respected independent advisory practice that earned the trust of families, professionals, and mission-driven organizations across the region. His leadership was instrumental in shaping a client-first culture that continues today. Patrick's work is rooted in a passion for long-term relationships — guiding clients not just through markets, but through life's milestones such as retirement, business transitions, philanthropic planning, and wealth transfer across generations. He takes pride in being both a strategic advisor and a steady partner to the people he serves. Patrick lives in Bluemont, VA, with his wife Angela, their two children, Paige and Sean, and their Golden Retrievers, Huckleberry and Genoa. Outside of the office, Patrick and his family enjoy an active lifestyle — whether it's hiking and backpacking on the Appalachian Trail, biking the Great Allegheny Passage, or sailing on the Chesapeake Bay. These experiences reflect his belief in balance, resilience, and enjoying the journey — values he also brings to his work with clients. NOTE: The views and opinions expressed by the guests on this podcast are their own and do not necessarily reflect the views and opinions of Diamond Consultants. Neither Diamond Consultants nor the guests on this podcast are compensated in any way for their participation. View the transcript of this episode… Build, Grow & Transact: From Breakaway to Transaction in 3 Years A conversation with Louis Diamond and Patrick Larkin, Partner & Practice Leader at Cerity Partners.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Build, Grow & Transact: From Breakaway to Transaction in 3 Years. It’s a conversation with Patrick Larkin, Partner and Practice Leader at Cerity Partners. I’m Louis Diamond, and this is The Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education-driven and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at 908-879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual Advisor Transition Report. It’s the award-winning, data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: Ownership as a way of creating opportunities you can’t always predict. That’s exactly why we created our Build, Grow, and Transact series. Independence isn’t the end of the story. It’s often the beginning of thinking differently about enterprise value, optionality, and what comes next. Today’s guest is Patrick Larkin, Partner and Practice Leader at Cerity Partners, and formerly the founder of Oak Hill Wealth Advisors. Patrick spent nearly 15 years building a successful practice at A.G. Edwards, Wachovia, and eventually Wells Fargo before launching his own independent firm in 2022. Just three years later, he merged that firm into Cerity. At first glance, that timeline might seem surprisingly short, but as you’ll hear, the merger wasn’t a change in direction. It was the result of seeing his business differently once he owned it. Yet, it’s this perspective that really brings that thought home. Patrick said the day Oak Hill launched felt like the business had gone public because overnight, what had been viewed as a book of business became an enterprise with substantially greater value, some four to five times the value of what it was worth at Wells. And that realization changed the way he invested, the way he hired, and ultimately the way he thought about the future. Pat and I also talk about something advisors don’t often discuss candidly, what life actually looks like after a merger. How much control do you give up? What changes day to day? How do you know whether you’re joining a partner or simply selling a business? Whether your long-term plan is to remain independent forever or eventually join a larger organization, Patrick’s experience is a reminder that ownership isn’t simply about control. It’s about creating optionality and putting yourself in a position where the next decision is yours to make. So let’s get to it. Patrick, thanks for coming on our show today. Patrick Larkin: Oh, my pleasure. Nice to meet you, Louis. Louis Diamond: You too. So let’s start off basically how we start every interview. Tell us about yourself, your background, and how you found your way into our industry in the first place. Patrick Larkin: Yeah, thank you for asking. I knew I always wanted to be a financial advisor. That part really wasn’t in question, but upon graduating college and being a 22-year-old, I knew that it was probably not practical to walk in and start advising people my parents’ age with their life savings. Probably wasn’t going to be a recipe for success. So I took a quick tour through the pharmaceutical industry first, which ended up being unexpectedly valuable. My employers there pushed me to think like an entrepreneur and within our territories. And honestly, that mindset never left me. It shaped how I built everything that came after. Eventually, an opportunity presented itself in Loudoun County, Virginia in Northern Virginia, and I became an FA trainee with A.G. Edwards, absolutely fantastic firm to start my career. Now, what drew me to this career was pretty simple. I felt like it was one of the professions that we had an opportunity to do so much good for others while simultaneously also doing well for yourself, and those two things aren’t in conflict. I also really loved the idea that in this profession there was no hiding. You don’t get paid to show up. You get paid for what you actually do. And perhaps for me, what was most important, I loved the weight of responsibility. I loved earning people’s trust. I loved the idea of deserving, being deserving of their trust, and being a steward of what they’ve worked a lifetime to build. I never took that lightly, and I still don’t. Louis Diamond: That’s amazing. Yeah, I mean, the number of people I’ve heard, you talked so fondly about A.G. Edwards and there’s a bunch of other firms that have since been absorbed or emerged that are like the regional firms of old. So not surprised to hear you loved it. A.G. Edwards, obviously, became Wells Fargo Advisors or was acquired or merged with Wells Fargo. So I know you’re at Wells and A.G. Edwards until 2022. So give us a quick version. How’d you build your practice from the pharma world into being in FA? Patrick Larkin: Yeah, so as I started with A.G. Edwards, I came in at really just the perfect time. It was towards the end of the financial crisis. And I built the business the old-fashioned way with a lot of cold calling and eventually did some dinner seminars, which I can tell you is a very expensive way to learn how to speak in front of a room. But I made some progress, and I was also in a great office, small enough that some of the advisors there would hand off some of the smaller accounts that they weren’t interested in working with, and got an opportunity to get a lot of reps in working with real life clients and individuals. I knew early on I didn’t have enough talent to win on talent alone, so I made up for it and compensated for that with really hard work. The real turning point came for me when A.G. Edwards was first acquired by Wachovia Securities, and that was about five years into my career. And at that point, my branch manager, who was eyeing retirement, asked me to step in as her partner, and that changed everything. We eventually moved over to a Wachovia Securities office, another really great local office in Loudoun County, Virginia. And from that office, I worked on and became a CIMA, a CFP, worked with the clients, built a business through referrals. And I found at that point in my career when I would go to a meeting with Wachovia, eventually Wells Fargo, as a young 30-year-old, I would look around the room often and realize that I was the youngest person in the room. The funny thing was 10 years later, I would go into that same room and I’d look around and I still was the youngest guy in that room. And those demographics in our industry, and when I came into our industry, ultimately led that office that I worked in with Wells Fargo Advisors, I eventually was the recipient and party to five different succession plans- Louis Diamond: Wow. Patrick Larkin: … at Wells Fargo Advisors. I hoped that I had built a reputation as somebody that these other advisors would entrust with their clients. And over that time period, really, I would say professionally, one of my accomplishments I’m most proud of is all five of those retired advisors that I used to work with, who had an opportunity to see me work with clients, all became clients of mine, I still continue to work with. And it’s professionally just one of the greatest honors that I’ve ever had. Louis Diamond: I mean, that’s a large number of advisors you helped sunset, but I would agree it’s the ultimate proof of concept that they not only trusted you with their clients and their life’s work, but now also with their family’s wealth. So I like that, kind of the full life cycle there. So I’m curious, though, you stayed at Wells through a really turbulent time through the fake bank scandal. There’s a lot of attrition. I mean, obviously, they’re still a powerhouse to this day, but what kept you at Wells for as long as it did before you left in 2022? Patrick Larkin: You described it as a turbulent time. Pretty turbulent might be an understatement. Even before Wells, the transition to Wells, Wachovia Bank had been the first company that we transitioned to from A.G. Edwards. And we, of course, went through the financial crisis during that time period and handholding our clients and helping them get through that time period and dealing with concerns that we shouldn’t really have to be prepared with. “Is my money safe? It’s not what’s happening to the market, but is my money safe in your institution?” But once things stabilized, I found real purpose in partnering with some of the retiring advisors and opportunities that came up. It was a really wonderful climate and atmosphere in our local office. It was really a family-like atmosphere, and I still had a lot to learn. And all those advisors that I partnered with, I’ve joked I’ve never had an original idea in my entire life. I stole all my good ideas from them. And some of them were really ahead of their time, and I learned, adopted, and built my own philosophies by working closely with them. Ultimately, by the time I left Wells Fargo, I was finishing up the fifth sunset program and had only made my way halfway through the sunset before the opportunity presented itself to create my own practice. Louis Diamond: So I’m curious, when did you first seriously start thinking about leaving and what really tipped the scales for you? What was the proverbial straw that broke the camel’s back? Patrick Larkin: Yeah, it really was a number of small items and ultimately one big one. But for a long time, I’d been content, but as I tried to grow the business beyond what I could do individually, I felt like I kept running into walls. There were it felt like limitations on how I could build out my team and structure the practice the way I envisioned it. Additionally, there were some new policies that also started to bother me. One of them was the platform advisory fee, which in my eyes was less about client transparency and more about replacing a declining revenue source on the firm’s balance sheet. And after dealing with clients and helping them through the bank scandal at the firm, I was concerned that this would come back and hurt me and the relationships that I had with my clients. Incidentally, I just recently onboarded a new client that transferred to us. And for them, looking at their statement, identifying this platform advisory fee- Louis Diamond: Oh boy. Patrick Larkin: … was the last straw for them before they moved about 15 million of assets to us. Also, I thought I would be I would be a better allocator of resources than Wells Fargo. Wells Fargo retained about half of the revenue that I earned for the business. They seemed to think that the best allocation of that money was additional middle management. Whereas, I thought investment in technology, investment in additional personnel, and an investment in marketing were best places to continue to build out my vision. The final straw, and really a thing that crystallized everything for me was when I read a book in 2021 called The Infinite Game, a book written by Simon Sinek. Chapter eight, the title is Ethical Fading. And it uses the Wells Fargo bank scandal as a case study in what happens when a firm loses its moral compass. I read the chapter and thought, “There it is, I have to do something.” That was really the final push I needed. I mentioned earlier I was very fortunate to start my career with a company called A.G. Edwards, a regional brokerage firm. And while I was at A.G. Edwards, there was a research report that came out on A.G. Edwards as a company. And I’m going to paraphrase a little bit on what was said in that report, but ultimately there was a line in there, and it was a criticism, but I took it as a huge positive as being an employee there. The line said, “While management does not necessarily say it, we believe the client is put ahead of the shareholder.” And that was something I was very proud of. And I just, upon reflecting on it, felt confident those were words that I never was going to see go to print about Wells Fargo. Louis Diamond: So you left Wells in 2022 and founded Oak Hill Wealth Partners in Lansdowne, Virginia. Walk us through that decision. Why go independent rather than going to another firm? Patrick Larkin: I really thought moving to another firm, the things that I had grown frustrated with at Wells Fargo Advisors, I would also find at another wirehouse firm. I was ready, and honestly, the simple answer is I thought I could do better. And I wanted control after having what I felt like was very little control. I had grown frustrated with others making important decisions, and I wanted an opportunity to grab the reins and make decisions on my own. I believe at that time, the future of wealth management was going to be built around fiduciary advice, and I didn’t want to watch that from the sidelines anymore. I was watching what was happening in the industry. And as we were trying to hire new advisors, reaching out to college graduates who were studying CFP programs, identified that they were more inclined to want to start employment with an RIA than a wirehouse. What made the timing work really well was Wells Fargo had actually introduced a program to help advisors in the private client group spin off and establish their own RIAs. Now, whenever I tell this to another advisor, particularly ones that are wirehouses, they can’t understand it. And quite frankly, I don’t understand why they helped us do it, but we were about the 30th practice that they helped us through this process and they provided real support. They hired consultants, made vendor recommendations, even referrals to financing so I could pay off my last succession plan before I left. The only really upside for Wells Fargo was that the ask was that we continue to use First Clearing as the custodian. And one of the downsides for me was I was going to leave all of my deferred comp behind with Wells Fargo. Now, all clients had to do to join me was sign a positive consent. And on May 9th, 2020, we turned on our computers in our new office and our clients were already there. That same day, we launched and started a relationship with Charles Schwab. And it was so exciting to be able to start shopping for what I thought was the best FinTech, really feeling like I was stuck with proprietary tools that Wells Fargo advisors had offered. I felt like I was a kid in a candy store. And if there was a cool tool that I identified that would help us serve our clients better, I was all in and I was buying it. I really feel that some of the technology that Oak Hill eventually bought into and some of the tools we’re using now are going to take years and years before they eventually trickle down to where the wirehouses are, if ever. Louis Diamond: Interesting. So it was really it was for the most part an internal move from one- Patrick Larkin: It was- Louis Diamond: … channel to the other. Patrick Larkin: … it was an internal move, but there was no requirement to stay at First Clearing. As a fiduciary, they couldn’t make those demands. And again, they helped us with the financing, which is really unusual that they helped us secure a loan so I could pay off the last retiring advisor. It’s really unusual that a bank will loan money where there is no business at the time, but because of previous experience that financial institution had working with Wells, they helped us facilitate the transaction. And the program is still in place at Wells Fargo, which is absolutely amazing to me after the experience that I’ve just had myself. Louis Diamond: Yeah, it’s interesting. I mean, does it cannibalize a more profitable revenue source? Sure. But if the alternative was all the assets go to Schwab or Fidelity, to me, honestly, it’s smart. I think they played the long game by not being adversarial on it. Patrick Larkin: I think they played a long game and they took the philosophy, and I think they use it as a recruiting tool that if you love them, set them free. And that’s exactly what they did. Louis Diamond: So for the rest of the episode, I want to talk about your eventual, and not that long period of time, transaction or decision to merge Oak Hill with Cerity Partners. This is our Build, Grow, Transact subseries. And I was really struck by your story because you were three years or so into running Oak Hill, and then your merger with Cerity Partners, an amazing RIA closed. That’s a fairly short runway. Usually when I see folks go independent for the first time, it’s 10, 15, 20 years, maybe never, that they decide to merge or sell. I’m curious to understand your thinking about the transaction. Were you looking to do something? Or was it just like right place, right time and the opportunity presented itself? Patrick Larkin: I had started Oak Hill with the intent of eventually down the road, much closer to retirement, looking for a partner. The opportunity and what I learned early on helped change that idea and philosophy, and I adapted and made modifications to take advantage of it. Louis Diamond: Interesting. So you weren’t necessarily planning on selling or merging the business, it just kind of circumstances happened the way they did? Patrick Larkin: Yeah. When we started Oak Hill Wealth Advisors, it was a really pretty short period of time before we started getting calls from larger national RIAs about potential acquisition, much sooner than I expected. Early on, I just brushed them off, but about a year in, I took one of those calls and it really just opened my eyes up. I realized for the first time this small firm, this little practice actually had some real value, way more than I’d given it credit for. That first call, that first exploration didn’t go anywhere. It wasn’t a good fit. But what it gave me was a much clearer picture of what the serious acquirers were actually looking for. And that changed decisions I made at Oak Hill going forward. I really at that point stopped trying to optimize for near-term profit and really thought of my business as a business and started building towards enterprise value, sometimes at the cost of short-term income. And that turned out to be exactly the right call. Louis Diamond: That’s such an interesting perspective. Let’s double-click into that concept. So it sounds almost counterintuitive that if you kind of had this light bulb moment that like, “Okay, maybe I want to transact my business sooner than I initially thought.” I think most people would say, “Let’s become lean and mean. Let’s become as profitable as possible so my EBITDA’s higher.” But you took the different approach. What were the decisions you did to invest more in enterprise value rather than current cash flow? Patrick Larkin: A true business is one that doesn’t need me to be here every day to operate. And when we left Wells Fargo Advisors, it was myself and one other advisor that created Oak Hill Wealth Advisors. I was responsible for about 95% of the assets and revenue. And one of the more significant investments we made is in additional advisors. I recruited three new advisors, all CFPs, to join Oak Hill Wealth Advisors. Whereas, before I had been largely managing all the relationships myself. For someone that kind of grew up in the regional wirehouse space, it’s pretty counterintuitive to start moving relationships away from you onto other advisors. You’re trained and built to create a moat around your relationships, and realized that the potential acquirers are not interested, at least the ones I was interested in, weren’t interested in buying a book. They were interested in buying a business. And that just meant every decision we made going forward was not profit-driven, but how can I increase the value of the business? So after that first call, I knew I probably would be looking to move forward with a transaction sooner as opposed to the end of retirement. That information that I got on that first call helped me realize that when Oak Hill Wealth Advisors opened its doors on May 9th, 2022, we effectively had an IPO. I had great familiarity with how the succession plans at Wells Fargo Advisors worked. And on that day that we opened our practice, the value of my business jumped to be four to five times the value of it in a succession plan at Wells Fargo Advisors. Now, I knew going forward that I was going to be able to increase revenue. I was going to be able to increase EBITDA. I was going to potentially have some benefits from a market tailwind. I knew the multiples of EBITDA that the firms use may fluctuate, but the biggest change by far occurred leaving the wirehouse and having the value of my business grow four to fivefold in that same day. So what I really focused on was making sure that I was going to, when I was ready to start looking again after I had worked on improving the practice, really was going to look for a firm that was going to be a good cultural fit for both my clients, my team, and myself. Louis Diamond: That’s such a cool perspective. I’ve never heard anyone say that the day we launched your independent business was like an IPO. But honestly, it’s so true. You’re planting a flag in the ground that like, “Here is real value. This is value that we’ve created that we own rather than it being a book of business and a W-2 paycheck.” And it’s a fascinating perspective. Patrick Larkin: Yep. It really is amazing that the value changed that much on one day and the future value changes. Looking at the equity that I owned in Oak Hill Wealth Advisors, it made sense to consider is there a better way to take some risk off the table for myself and my family and diversify some of the equity that I had in Oak Hill Wealth Advisors with a larger enterprise? Louis Diamond: It makes complete sense. Obviously, everyone would sign up for 4 to 5X increase in value. Patrick Larkin: Sure. Louis Diamond: That’s not the reason most people go independent, but it’s important to know. And also, what I really liked about what you shared is I think a really valuable learning for anyone is those calls come in, whether it’s from annoying people like me or from an acquirer, from a firm, they’re not all noise. You took it as an opportunity to learn. Even though that first person who called wasn’t the right fit, it crystallized something in your mind and it let you make proactive decisions that ultimately paid off in spades when it came time to sign the dotted line for your transaction with Cerity. So I think it’s brilliant. And it’s very big picture, big-business-owner-type stuff that I think a lot of people will just filter out because it’s annoying and I’m young, I’m not looking to sell, but that was the journey. Patrick Larkin: Yeah, that first call changed my opinion about timing of when to move forward with a partnership. Originally, I thought this would be something at the end of retirement. The timing of doing so sooner seemed a lot more appealing after having that conversation and realizing what we had actually built. Louis Diamond: Amazing. So ultimately you decided to merge with Cerity Partners. We’ve had Kurt Miscinski from Cerity Partners on the show. They’re a real heavyweight within the RIA world. Most recently, they were valued at $8 billion in a recap, and it’s a very impressive firm. What specifically drew you to Cerity versus other potential buyers? Like you said, you got a lot of calls. Patrick Larkin: After that first call, I just got to work and focused on continuing to take care of our clients, building a team, adding new advisors, being a mentor to those advisors. But at the same time, we were being approached fairly regularly by that point. And I had a pretty good system for quickly deciding whether something was worth a second look, and most weren’t. But about a year ago, one of the national RIAs caught my attention and I started having conversations with them. And once I had progressed with them, I though, “You know what? If I’m giving this consideration, I really need to cast a wider net.” So I reached out to other RIAs that I had looked at and admired and been keeping an eye on. And ultimately, my longtime business coach, Barbara Kay, suggested I talk with Cerity Partners, a company that one of her other clients had just recently joined. And from the very first call, I could tell something was different. And I talked to many different companies. Cerity Partners, and an individual I spoke with, Geoff Newman, they weren’t leading with valuation formulas or deal structure. They were asking questions about my clients, my team, and how I actually ran the practice. They had a very defined process for identifying partners who were genuinely compatible, not just advisors with books that were transferable. And that distinction mattered greatly to me. They also offered really, in my opinion, the right balance of support and still having some autonomy. And their aspiration to deliver consistent standard of care to clients, whether they be in California or Virginia, so that those individuals get the same quality of experience, resonated with how I was already running things within my practice. That combination of support and autonomy, I really liked the idea of continuing to have oversight over my local practice, over our practice, which included the budget, salaries, and bonuses. It more than anybody else felt like a partnership and not a buyout. And I really appreciate it during that first call, Cerity was the only company that talked about a hundred-year plan. It was amazing to me to hear what their thoughts were. Most of the other firms I spoke with talked about valuations. And very quickly in the process, I found myself on a Zoom call with a Patagonia fleece vest-wearing private equity rep walking me through a valuation. And it was efficient, but it was not a cultural fit for me. And the infrastructure behind us and the combination of autonomy is really harder to find than most people think. As I progressed with Cerity, I remember early on in the process thinking to myself, “My God, I hope they want me, I hope they want me,” because I could tell I’m a very process-driven person They had a process with the way they brought me on board. And ultimately, we had a due diligence trip set up to go to one of their larger offices where I met with one of their leaders, Claire O’Keefe, part of their practice development, and had an opportunity to meet with different leaders within the firm and really get my arms wrapped around the potential that they had. Just the quality of the people I encountered through the whole process just kept reinforcing the decision. And by the time we got to the finish line, it didn’t feel like a transaction. It felt like I was joining something that I was excited to be part of. So just a little bit more about what attracted me to Cerity, their culture is just phenomenal. Cerity Partners uses the word “meritocracy” and they actually mean it. Ownership and influence here track your contribution, not your tenure or how well you play the politics. I just attended my first partner meeting in April, and without exaggeration, it was the most extraordinary professional meeting I’ve attended in my 25-year career. During the meeting, there was open debate about the direction of the firm, and every voice in the room carried weight. You could feel the culture. And that type of culture is built over years. You can’t fake it. Everyone in the room it felt like was rowing in the same direction. And by the time the meeting was over, I was so excited to get back to my team and tell them about what I had just witnessed, I wasn’t looking for the exit. I was looking for the brick wall to run through. I was so excited. And every once in a while I wonder having spent so much time in the wirehouse spaces, the bar just set really low for me when I talked to some of my other colleagues that have been independent for a long time. But it was just an absolutely amazing experience. And I do want to just add, one of the last really important things to me about Cerity Partners is I’ve been very fortunate with my career and in this profession. And part of my goal over the rest of my career is to have a legacy. And my legacy currently exists with the families I’ve advised and the team that I’ve built and have served and led. But Cerity Partners is helping me achieve even a greater legacy in our industry with our shared long-term goals. During my first meeting, they talked about their hundred-year vision of being a worldwide employee-owned professional services firm. And currently, and this is very exciting, the employees are the largest shareholder of the firm. No one else I talked to talked about their long-term goals like this, and it’s a vision I believe in. I want to contribute to help to see it accomplished. And one day when I do retire, I want to look back and see how I contribute it to a company that I believe is going to change the direction of professional wealth management. Louis Diamond: Wow. Patrick Larkin: My partnership with Cerity Partners is going to make that a reality. It’s just an amazing place. Yeah, very happy. Louis Diamond: Honestly, you can’t fake that type of enthusiasm. It sounds like- Patrick Larkin: It’s not- Louis Diamond: … you entered into a transaction, which is it’s like jumping into the deep end. How do you sort through what’s the sales process versus what’s real? How much of this is actually going to translate to my life? But hearing you not that long after the transaction, you still feel that and it’s very cool. In the press release I read, you cited estate planning, private markets access, and cross-border planning as key reasons for the merger. Can you talk about what it was about those? Maybe- Patrick Larkin: Yeah. Louis Diamond: … anything else that was missed? Patrick Larkin: Yeah. Louis Diamond: And were those not things that you felt like you could have delivered yourself as a standalone? Patrick Larkin: I thought that they were going to help me be able to be more effective in delivering those, but they weren’t the complete picture. The capabilities that we cited in the release were genuine gaps I wanted to fill and have available for clients and be able to prospect and go after new additional clients. But being fully honest, there were also deeper drivers. One was my team. Sometimes we get emotional about this. Being someone who’s trusted is really important to me, and that’s something I hold in high priority. There are people that followed me out of Wells Fargo to join me. One of my client associates had delayed her retirement so that she could join me and help us launch for the first three months. One of my other client associates has been with me close to 15 years. These are people that trusted me to do the right thing and to make sure that I wasn’t walking them off the plank. Being able to join Cerity Partners and give them a future that didn’t hinge entirely on my personal longevity was a huge relief. And Cerity Partners is an ownership culture. I’m so happy to say today that every single individual on my team in our practice in Lansdowne is now either an equity owner in Cerity Partners or very shortly will be an equity- Louis Diamond: So cool. Patrick Larkin: … equity owner. So they have a stake as well in what they’re building. It matters. My youngest client associate noticed how much it costs to send to FedEx. And he goes, “Now that I’m an owner, maybe we should rethink about sending regular mail.” Another driver was my family. And I’ve always had the philosophy of trying to prioritize and clients first, team and colleagues, and then my family. And I’ve always made decisions that if I put those others before myself, eventually I’ll be taken care of. And going through this transaction, it was so generous to my family and provided such security. There was a little bit of guilt that, “Am I doing this for all the right reasons?” But being able to secure my family’s future, converting equity in a three-year-old RIA into a stake of a $8 billion-plus valuation with institutional backing, that was a meaningful moment and I’d be less than honest if I glossed over that. I also really wanted to be part of something larger than myself. And the opportunity to help build a legacy in this business with Cerity Partners really gives me the platform to do that. Louis Diamond: Very cool. I can tell that you’re genuine, not just because of the way you sound, the way you’re speaking, but in the very beginning of the episode, you talked about the reason you got into this business was because you thought it gave you the dual purpose of being able to help people, but also being able to enrich yourself or your family. So this answer, it comes full circle. You’re able to accomplish all these goals, which made it the right decision. And I think, look, I say to advisors all the time, “You’re allowed to be greedy, you’re allowed to be selfish as long as the clients are still in the front of your mind as the most important thing.” There’s nothing wrong with doing better for clients, building a legacy in your case, but also reaping the rewards of all your hard work and labor and also all the risks that you’ve taken over your career. I got to ask you, though, from being an employee of Wells, where you were running your team, for the most part, you can run the business within their guardrails the way you want, to then running an RIA, which is really like you’re fully in control of everything, to now being a partner, but you’re not the one who has the name on the door anymore. Patrick Larkin: Right, right. Louis Diamond: Well, how do you think about the giving up control and full ownership of your practice versus owning a very small amount of a much larger entity? Patrick Larkin: There was such continuity. Oak Hill Wealth Advisors and Cerity Partners were so philosophically aligned that I genuinely never felt like I was giving up anything that I wasn’t glad to let go. My wife joined the business shortly before I left Wells Fargo Advisors. And still to this day, on my drive home from work, I call her up and say, “You’re not going to believe this.” And it’s all a positive, good thing. So Cerity has struck the perfect balance of that autonomy and support combination that I was looking for. So I still have control and a say over the way our practice is managed. Very shortly after the merger, my supervisor came down and met me for the first time, and we went out together after the day had ended. And early in the conversation I said to him, “What can I do to make your life easier?” And he said, “Pat, what can I do to make your life easier?” And that set the tone that still exists to this day. I almost cried when he said that because that was so different than what I had experienced up to that point. So the collaboration, the way we work together, it’s just absolutely amazing. And not once for a single moment have I second-guessed my decision. And it’s really weird because I’ve now been part of this organization for nearly nine months, and there just has not been one thing that’s occurred where I said, “That’s a disappointment.” It’s just been absolutely amazing every single day. Louis Diamond: Very cool. To me, there’s different arcs of when you want to ask people the question of, “Hey, any regrets?” And usually you don’t want to ask them too soon because they’re still going through the transition and integration and growing pains. And you don’t want to ask them too far in the future because you forget about what was life before. To be this short of a duration into this new partnership and to have these feelings, that’s absolutely pretty special. I got two more questions for you, Pat, if you don’t mind. Patrick Larkin: Sure. Louis Diamond: First one, economically, to me, one of the hardest things for really any advisor to really grapple with or to fully comprehend or make their own is, “I own 100% of the equity in my business. I get to decide when I want to sell in the future. My business is growing 10% per year. I wait to sell until 10 years from now, my business is going to be much bigger and I get to keep all the cash flow. I get to make all the decisions.” That compared to the path that you took, which was take cash off the table, which everyone understands, to, “Now, I own a much smaller piece of a much larger pie.” How would you talk to someone about the financial trade-off between a hundred percent ownership in their business, full control, full discretion over everything, versus becoming a minority equity partner in a larger entity? Patrick Larkin: You have to look at the valuation of my business, again, the day that we opened our doors as Oak Hill Wealth Advisors. There was such a massive jump in the value of the business. There was not going to be an opportunity for an appreciation at that level. So then, you have to compare what the growth rate is of Oak Hill Wealth Advisors versus a Cerity Partners. And I’m not embarrassed to say that Cerity Partners is and has been growing at a much faster rate of return. The value of the equity that I have retained in Cerity Partners, my ownership stake, I fully expect by the time I transact that business as I get closer to retirement, that’s going to be worth many times more than whatever opportunity I would have had at Wells Fargo with the valuation they would have provided me. Nevermind, very important, the tax consequences of a structure like this is all the retiring advisors that I worked with were taxed at their highest marginal rate. I owned a business and we were taxed at long-term capital gains rates. A significant difference in savings in what as the owner we actually realize. So yeah, I feel very comfortable with the ownership that I have and the control and continued opportunity with the meritocracy culture to increase my share of ownership in the company. Louis Diamond: Okay, and let’s do one more question here. I’ll pick it back up. So Pat, I think it’s a really cool perspective. It’s almost do your homework, and if you find the right horse and the right jockey that can run faster than you can on your own, that the equity value will compound and grow and appreciate in a faster, more efficient way than what you’re doing on your own, which makes complete sense. It’s the ultimate trade-off. And again, it’s like jumping into the deep end. On the one hand, Oak Hill was all you, right? You control the growth, for better or worse, for the good days, the bad days, the good years, the bad years, versus now your growth is diversified amongst hundreds of partners across M&A, across different lead flow channels, et cetera. It makes complete sense. But honestly, if I were an advisor, I don’t know how I would think about it. I think it’s all just fact-and-circumstance-based on where I am in my life and who the firm is and what I’m trying to accomplish. But it’s such a cool perspective because usually the playbook that we see, which is why we did this series, is go independent and there’s a long pause until there is a realization of all the value that’s been created. So seeing you do this in a much quicker timeframe, it seems like it was the absolutely right decision. To me, it just is another path, another way that an advisor or a firm is able to think about their future. Any final advice or parting words for someone who is sitting right where you were in 2021 or 2022 thinking about making the leap? And we’ll say a transition in general, or really anything you want to share to wrap our episode here. Patrick Larkin: Thank you for having me, and this is a great question. Happy to give a thoughtful answer to it. Before I’d left Wells Fargo Advisors through the program and started Oak Hill Wealth Advisors, I had an opportunity to go through a due diligence process and make sure that this was going to be a right move for me. There was no carrot out there that was obvious. I learned after that first conversation that I had built a practice that had some value to it. I was leaving behind the security of something I knew, leaving behind a significant amount in deferred compensation, and I wanted to make sure I was making the right decision. And through that due diligence process, talked to about five other firms that had recently left Wells Fargo to join this RIA program. I asked them a lot of different questions about what their experience was. And at every point during those conversations, they all said the same thing at different points. And it sounded like this. They said, “I’m working harder than I ever have before, but I wish I had done this sooner.” So my advice to those people, do it. I know that sounds simple, but I mean it. The fear of leaving is almost always worse than the actual experience of leaving. And I understand the inertia of not leaving and the real apprehension of what was on the other side. But what I found was a version of this profession I genuinely didn’t know was possible. One where I could do things the right way on my terms for the people I care most about serving. And not every path is going to look like mine. Some advisors should go fully independent and stay there, and that can be an incredible life. But when it comes time to look for a partner, quite frankly, if Cerity Partners is not on your shortlist, you’re making a significant mistake. And I say that not to sell anything, but because I’ve lived the comparison firsthand and there’s simply nothing else like it. Louis Diamond: So Pat, it’s been really fun, but I don’t think we’ve had anyone on the eight years or so we’ve been doing this show that’s gone through this type of arc or journey that you have. One of my big takeaways or sticking points that this episode brought for me is by going independent and taking control over your future, you created complete optionality for yourself to do exactly what you wanted to do with your business, even if that was different than what you initially planned. So in your case, it was selling within three years of going independent, but by taking action, being proactive, playing some offense, you made the opportunity happen on your terms and your timeline. So this has been fun in so many different ways. I loved your comment about how when you went independent, it’s basically like the day of your IPO, the four-to-five-times increase in value versus an internal succession deal, and even just the way to think about getting equity in a larger entity versus running your own plays only. So thank you so much for doing this. This has been fun. Mindy Diamond: As a financial advisor, you hold yourself to the highest standards of integrity, honesty, and credibility. You are successful because you take your professional responsibility seriously and are dedicated to your clients. But are you living your best business life? Are your goals aligned with your firm’s or could a better option exist? Should I Stay or Should I Go? Is a book written with you in mind? It’s a self-guided journey that walks you through the key steps that we take with our advisor clients. This strategic thought process and roadmap to professional self-discovery is designed to help you ask the right questions and think critically and objectively, whether you’re considering change or not. Learn how to get your copy at diamond-consultants.com/thebook.   Build, Grow & Transact: From Breakaway to Transaction in 3 Years A conversation with Louis Diamond and Patrick Larkin, Partner & Practice Leader at Cerity Partners.      Louis Diamond: Welcome to the latest episode of our podcast series for financial advisors. Today’s episode is Build, Grow & Transact: From Breakaway to Transaction in 3 Years. It’s a conversation with Patrick Larkin, Partner and Practice Leader at Cerity Partners. I’m Louis Diamond, and this is The Diamond Podcast for Financial Advisors. Mindy Diamond: At Diamond Consultants, we help elite advisors identify the right environment for their businesses to thrive, whether that’s at a wirehouse, boutique, or independent firm. With nearly three decades of experience, we’ve guided thousands of advisors and represented more than a quarter of a trillion dollars in assets transitioned. And each year, one in four advisors managing a billion dollars or more who change firms are our clients. Our process is education-driven and based on building relationships, starting as your strategic partner well before you’re even thinking of a move. To schedule a confidential conversation, call us at 908-879-1002. Wondering why advisors change firms and where they’re headed? Are transition deals going up or down? Those very questions and more inspired us to create our annual Advisor Transition Report. It’s the award-winning, data-driven resource designed for advisors that connects the dots between the motivations around movement and the firm’s appetite for top talent. Arm yourself with the knowledge you need to make smart decisions. Download your copy at diamond-consultants.com/transitionreport. Louis Diamond: Ownership as a way of creating opportunities you can’t always predict. That’s exactly why we created our Build, Grow, and Transact series. Independence isn’t the end of the story. It’s often the beginning of thinking differently about enterprise value, optionality, and what comes next. Today’s guest is Patrick Larkin, Partner and Practice Leader at Cerity Partners, and formerly the founder of Oak Hill Wealth Advisors. Patrick spent nearly 15 years building a successful practice at A.G. Edwards, Wachovia, and eventually Wells Fargo before launching his own independent firm in 2022. Just three years later, he merged that firm into Cerity. At first glance, that timeline might seem surprisingly short, but as you’ll hear, the merger wasn’t a change in direction. It was the result of seeing his business differently once he owned it. Yet, it’s this perspective that really brings that thought home. Patrick said the day Oak Hill launched felt like the business had gone public because overnight, what had been viewed as a book of business became an enterprise with substantially greater value, some four to five times the value of what it was worth at Wells. And that realization changed the way he invested, the way he hired, and ultimately the way he thought about the future. Pat and I also talk about something advisors don’t often discuss candidly, what life actually looks like after a merger. How much control do you give up? What changes day to day? How do you know whether you’re joining a partner or simply selling a business? Whether your long-term plan is to remain independent forever or eventually join a larger organization, Patrick’s experience is a reminder that ownership isn’t simply about control. It’s about creating optionality and putting yourself in a position where the next decision is yours to make. So let’s get to it. Patrick, thanks for coming on our show today. Patrick Larkin: Oh, my pleasure. Nice to meet you, Louis. Louis Diamond: You too. So let’s start off basically how we start every interview. Tell us about yourself, your background, and how you found your way into our industry in the first place. Patrick Larkin: Yeah, thank you for asking. I knew I always wanted to be a financial advisor. That part really wasn’t in question, but upon graduating college and being a 22-year-old, I knew that it was probably not practical to walk in and start advising people my parents’ age with their life savings. Probably wasn’t going to be a recipe for success. So I took a quick tour through the pharmaceutical industry first, which ended up being unexpectedly valuable. My employers there pushed me to think like an entrepreneur and within our territories. And honestly, that mindset never left me. It shaped how I built everything that came after. Eventually, an opportunity presented itself in Loudoun County, Virginia in Northern Virginia, and I became an FA trainee with A.G. Edwards, absolutely fantastic firm to start my career. Now, what drew me to this career was pretty simple. I felt like it was one of the professions that we had an opportunity to do so much good for others while simultaneously also doing well for yourself, and those two things aren’t in conflict. I also really loved the idea that in this profession there was no hiding. You don’t get paid to show up. You get paid for what you actually do. And perhaps for me, what was most important, I loved the weight of responsibility. I loved earning people’s trust. I loved the idea of deserving, being deserving of their trust, and being a steward of what they’ve worked a lifetime to build. I never took that lightly, and I still don’t. Louis Diamond: That’s amazing. Yeah, I mean, the number of people I’ve heard, you talked so fondly about A.G. Edwards and there’s a bunch of other firms that have since been absorbed or emerged that are like the regional firms of old. So not surprised to hear you loved it. A.G. Edwards, obviously, became Wells Fargo Advisors or was acquired or merged with Wells Fargo. So I know you’re at Wells and A.G. Edwards until 2022. So give us a quick version. How’d you build your practice from the pharma world into being in FA? Patrick Larkin: Yeah, so as I started with A.G. Edwards, I came in at really just the perfect time. It was towards the end of the financial crisis. And I built the business the old-fashioned way with a lot of cold calling and eventually did some dinner seminars, which I can tell you is a very expensive way to learn how to speak in front of a room. But I made some progress, and I was also in a great office, small enough that some of the advisors there would hand off some of the smaller accounts that they weren’t interested in working with, and got an opportunity to get a lot of reps in working with real life clients and individuals. I knew early on I didn’t have enough talent to win on talent alone, so I made up for it and compensated for that with really hard work. The real turning point came for me when A.G. Edwards was first acquired by Wachovia Securities, and that was about five years into my career. And at that point, my branch manager, who was eyeing retirement, asked me to step in as her partner, and that changed everything. We eventually moved over to a Wachovia Securities office, another really great local office in Loudoun County, Virginia. And from that office, I worked on and became a CIMA, a CFP, worked with the clients, built a business through referrals. And I found at that point in my career when I would go to a meeting with Wachovia, eventually Wells Fargo, as a young 30-year-old, I would look around the room often and realize that I was the youngest person in the room. The funny thing was 10 years later, I would go into that same room and I’d look around and I still was the youngest guy in that room. And those demographics in our industry, and when I came into our industry, ultimately led that office that I worked in with Wells Fargo Advisors, I eventually was the recipient and party to five different succession plans- Louis Diamond: Wow. Patrick Larkin: … at Wells Fargo Advisors. I hoped that I had built a reputation as somebody that these other advisors would entrust with their clients. And over that time period, really, I would say professionally, one of my accomplishments I’m most proud of is all five of those retired advisors that I used to work with, who had an opportunity to see me work with clients, all became clients of mine, I still continue to work with. And it’s professionally just one of the greatest honors that I’ve ever had. Louis Diamond: I mean, that’s a large number of advisors you helped sunset, but I would agree it’s the ultimate p

Most investors spend their time deciding what investments to own. Far fewer spend time thinking about where those investments should be held. In this episode, Tyler Emrick, CFA®, CFP®, breaks down one of the most overlooked tax planning strategies in retirement: asset location. Using research from Vanguard, Tyler explains how placing the same investments in different accounts—taxable, traditional IRA/401(k), and Roth—can improve after-tax wealth without taking additional investment risk. In this episode, Tyler covers: What asset location is—and why it's different from asset allocation. Vanguard's research on improving after-tax returns. Where different investments generally belong. Why Roth accounts deserve special consideration. Common mistakes investors make when organizing their portfolios. Why asset location should evolve throughout retirement.   Have questions? Need help making sure your investments and retirement plan are on track? Click to schedule a free 20-minute call with one of True Wealth's CFP® Professionals. http://bit.ly/calltruewealth   Our website:  https://www.truewealthdesign.com/  Phone: 855.TWD.PLAN Contact our team: https://www.truewealthdesign.com/contact-a-financial-advisor/  Schedule your no-cost discovery call: http://bit.ly/calltruewealth  Check out our other no-cost financial resources here: https://www.truewealthdesign.com/financial-resources/    Facebook: https://www.facebook.com/TrueWealthDesign/  LinkedIn: https://www.linkedin.com/company/true-wealth-design/  X: https://x.com/truewealthdesgn    Watch the show now on YouTube: https://www.youtube.com/channel/UCjENBHOti-IEJFqeydZm_Fg?sub_confirmation=1

Fresh all-time intraday high as oil prices declined to 87 dollars a barrel and traders digested more inflation data, Taking a look at the new Apple Watch, This Saturday's event has been cancelled but coming up Saturday September 12th at 10am is the Taxes in Retirement seminar with EP Wealth Advisors and CFP's Ryan Ignacio and Julie Chan-O'Rourke at the Don Tatzin Community Hall at the Lafayette LibrarySee omnystudio.com/listener for privacy information.

In almost every episode of this series, the money was actually fine. The math worked. So what held people back? In this wrap-up episode, Joe names the thing that sits underneath the numbers, and explains why the final decision to retire is rarely just a financial one. The plan comes first, always. But here is what happens for a lot of people: the math says yes, and they still do not move. At that point, the real question was never whether they could afford to retire. It was whether they were allowed to stop, and who they would be when they did. Joe wraps up this unofficial series by walking through the emotional work that has to happen alongside the financial work, with real client examples that show just how many different paths there are to finally making the move.   In This Episode When the numbers work but you still will not pull the trigger, it is worth being honest about why. The one more year crowd, the business owner worried about clients and staff, the person who does not know what they would do with themselves - these are emotional questions, not financial ones, and they deserve the same serious attention as the spreadsheet. A useful framework: you can only have three true priorities at any one time. If work has been one of yours and suddenly it is gone, you have an empty slot. Part of getting ready to retire is deciding on purpose what fills it - before you get there, not after. There is no single right path. One client keeps working because the work genuinely fits his life. Another needed a succession plan in place before she could let go. Another just needed to see the numbers to give herself permission to even imagine what else was possible. Plenty land somewhere in between, doing part-time consulting that funds the bigger trips without touching the core plan. The question worth sitting with is not just what you are retiring from, but what you are retiring to. A plan can hand you the financial freedom, but only you can decide what you do with it. The order matters: get the plan right first so you know the numbers work, then do the second piece of work with equal seriousness. Get honest about whether you like what you are doing. Figure out your new priorities. And give the emotional preparation the same attention you gave the saving.   About: Your Retirement Planning Simplified is a weekly Canadian retirement planning podcast hosted by Joe Curry, CFP, CEPA, of Matthews and Associates, an independent wealth management firm. Each week, Joe breaks down retirement income, tax, and estate decisions in plain language for Canadians who are near or in retirement.   Next Steps: Want tips like this in your inbox? Sign up for the Retirement Planning Simplified Newsletter and get updates plus our popular 60-Second Retirement Tip: https://bit.ly/RPSNewsletter Ready to take the next step in your retirement planning? Watch a short overview of our True Wealth Roadmap and see if our process is a fit for you: https://www.matthewsandassociates.ca/vsl   Disclaimer: Opinions expressed are those of Joseph Curry, a registrant of Aligned Capital Partners Inc. (ACPI), and may not necessarily be those of ACPI. This podcast is for informational purposes only and not intended to be personalized investment advice. The views expressed are opinions of Joseph Curry and may not necessarily be those of ACPI. Content is prepared for general circulation and information contained does not constitute an offer or solicitation to buy or sell any investment fund, security or other product or service.

PHP Podcast – August 13, 2026 Hosts: Eric Van Johnson & John Congdon Eric and John reunite after weeks apart to talk Laracon in Boston, more diverse voices coming to this time slot, CPX finally giving PHP an npx, a stripped-down PHPStorm Light, and PHP Tek’s extended CFP. Stepping Back to Make Room for More Voices Eric and John open by explaining a shift in the show: they’re not disappearing, but they’re stepping back a little so more people from the PHP Architect team can take the mic. As John put it, the goal is “more diverse voices of the community,” and folks like Joe, Sarah, and Holly have been stepping into this time slot. Eric and John have committed to appearing at least once a month, since they have the most holistic view of what’s happening across the company. When they’re on, expect the “inside baseball” episodes — the behind-the-scenes look at what PHP Architect is up to. The rest of the time, this slot will keep going with other hosts, so the show never goes dark. They also reminded listeners there’s both a live stream and an audio RSS feed. Some folks apparently only recently discovered the audio version, while longtime audio listeners never realize the show streams live. Either way, head to phparch.com, click on podcasts, and you’ll find every way to subscribe. Eric’s Laracon Boston Recap Eric attended Laracon in Boston and, as always, has a love/hate relationship with it. On the plus side, it’s where he catches up with a lot of friends, and the talks were solid — Pauline Voss gave a great presentation on JJ (Jujutsu) and atomic commits, and Nuno showed off Pest 5. Eric noted the framework itself is moving much slower now, which is actually a good thing for anyone running a business on it, even if it makes the conference less essential-viewing than it once was. The venue was industrial and good-looking with a fantastic stage setup, but seating was a genuine problem this year. Eric arrived late to Nuno’s talk and there was nowhere to sit; the team scrambled to bring in more chairs. When it rained on day two, they ran out again. Despite that, staying in the same hotel as folks like Eric Barnes, TJ, Jake Bennett, and Michael Dorinda made for the kind of hallway-and-breakfast camaraderie he values most. Eric also hit the social events he usually skips — he sat out dodgeball (bad knees, slip-on shoes, and being a big target), but went to the Laracon Prom, which required an RSVP and an approved request. It turned out to be way cooler than expected, with people fully decked out, DJs, and an after-party plus a VIP dinner where Laravel’s marketing team worked the room. He also caught up with folks like Matthew Weier O’Phinney of Zend/Perforce and had a chat with Taylor. Running the Laravel Magazine Site and Taylor’s Blessing Eric shared that PHP Architect is now running the Laravel Magazine website, which previously belonged to Marijn (Marion) Pop. He’s been publishing tutorials, keeping things current, and making changes to the site he’s proud of. The articles are short, quick reads — and one of the Laravel wrap-up pieces mirrors the same article on the PHP Architect site. At the after-party dinner, Eric took the opportunity to run the name past Taylor directly, since he wasn’t sure the original owner had ever gotten official approval to use the Laravel name for a magazine. Taylor’s response was essentially “that’s fine, don’t worry about it” — so Laravel Magazine lives on. Eric even set up a newsletter signup, though he admits he’s not sure yet whether he’ll actually send a newsletter. CPX — A PHP-World npx One of Eric’s favorite discoveries from Laracon was CPX, essentially the PHP equivalent of npx. Just as npx lets you run JavaScript packages without installing them into a specific project, CPX lets you run tools without a global composer install or a per-project dependency. Eric already swapped his global PHP CS Fixer and Laravel Pint setup over to CPX aliases, so he now always runs the latest version without dependency headaches. John pushed back a bit, pointing out that tools like PHP unit and Rector usually live in your vendor directory anyway because your CI pipeline depends on them. Eric agreed that’s a valid workflow, but framed CPX as ideal for the occasional-use tools and for lowering the barrier for people outside the PHP world who want to dip in without fully committing. Chat chimed in with Rector as a great CPX use case, and they walked through examples like spinning up a fresh Laravel app. Laravel LSP and PHP Storm Light Eric was genuinely excited that Laravel now has its own Language Server Protocol. Most IDEs had already built their own Laravel-aware workarounds, but for Eim’s Neovim setup, the LSP finally makes things like jumping from a route to the view it points to work correctly — something PHP Storm had solved long ago but Vim hadn’t. He also spotted something called PHP Storm Light at the JetBrains booth: a trimmed-down, experimental build with faster startup, lower memory, and fewer features. It’s available through the Toolbox app as an EAP, so it’s free and explicitly experimental. John, who’d been hitting memory limits in regular PHP Storm, decided to install it on the spot, and Joe mentioned using it for one-off file edits — sparking a conversation about whether it fills the gap left by JetBrains’ old standalone editor. PHP Tek CFP Extended + Ticket Options John announced that the PHP Tek call for speakers has been extended through October 31st. The team experimented with opening the CFP very early this year to help attendees whose fiscal-year approvals depend on a locked schedule, but the community felt it was too early to know what would be relevant next April. So they extended the window and made cfp.phptek.io point straight to the call for presenters (thanks to a suggestion from A. Woods). On tickets, they’ve broken out a bundle that includes hotel nights so attendees can hand their boss a single lump-sum figure (airfare not included). There are also food-and-beverage-only tickets for partners and kids, single-day track options, and dedicated days for Laravel, JavaScript, and DevOps — one track each, with the other two tracks running the usual PHP Tek content. John flagged a possible issue with DevOps being the default CFP track, since it’s pulling in a flood of generic, seemingly AI-submitted talks he’ll need to sort through. Links from the show: PHP Tek — CFP extended through October 31, conference + hotel bundle available PHP Tek Call for Presenters OurCVEs — watch your repos and servers for CVEs Host: Eric Van Johnson X: @shocm Mastodon: @eric@phparch.social Bluesky: @ericvanjohnson.bsky.social PHPArch.me: @eric John Congdon X: @johncongdon Mastodon: @john@phparch.social Bluesky: @johncongdon.bsky.social PHPArch.me: @john Streams: Youtube Channel Twitch Connect & Hire PHP Architect Website Twitter/X Mastodon Hire PHP Developers Looking to hire PHP developers? Email support@phparch.com – Eric, John, and the team are available for consulting, team augmentation, direction, code review, and even mobile development work. Partner This podcast is made a little better thanks to our partners Displace Infrastructure Management, Simplified Automate Kubernetes deployments across any cloud provider or bare metal with a single command. Deploy, manage, and scale your infrastructure with ease. https://displace.tech/ OurCVEs Your security posture, on autopilot with OurCVEs CodeRabbit Cut code review time & bugs in half instantly with CodeRabbit. PHP Architect Consulting Your PHP codebase deserves a partner, not a contractor PHP Architect provides long-term technical partnerships for organizations that need senior-level PHP expertise that you can depend on. https://www.phparch.com/consulting/ Music Provided by Epidemic Sound https://www.epidemicsound.com/ Join Us Live Next Week Youtube Channel Got feedback? Join us on Discord at discord.phparch.com The post The PHP Podcast 2026.08.13 appeared first on PHP Architect.

Every year, Len Penzo prices out the exact same ten brown-bag sandwiches, using the exact same methodology, at the exact same time of year, and turns it into one of the most oddly reliable inflation trackers around. This year the numbers are ugly: double-digit jumps across the board, an 80% spike in one ingredient alone, and a genuinely surprising twist involving the humble bologna sandwich that Len says has quietly tracked economic downturns for nearly two decades. Then, a headline that should make every family pause: how one daughter used a single signed document to quietly drain nearly a million dollars from her own father.What You'll Walk Away WithWhich sandwich ingredient jumped a jaw-dropping 80% this year, and why it's not the one you'd expectThe strange, long-running correlation between bologna sales and economic recessionsSimple substitutions, buying whole meats and block cheese instead of pre-sliced, that can meaningfully cut your grocery billWhy "nominally the highest price ever" doesn't always mean "the most expensive it's ever really been," once you adjust for inflationHow a single signed power of attorney document led to nearly $1 million disappearing from a vulnerable parent's accountsThe real difference between what your estate plan says and what your actual account beneficiary designations say, and why that gap can undo your entire planA billionaire's surprisingly simple family money ritual that keeps inheritance conflicts from tearing families apartWhy This Matters NowGrocery prices are one of those slow, quiet costs that are easy to underestimate until you actually look at the numbers side by side. At the same time, the legal documents meant to protect aging family members, like power of attorney, only work as intended when there's real transparency and real trust behind them. Both stories point to the same underlying idea: the clearest financial protection usually isn't a clever trick, it's paying close attention to the details that are easy to assume are already handled.From the BasementA story about a backyard grill fire escalates into a genuinely useful (and slightly panicked) lesson on fire extinguisher use, corrosive foam and all, proving once again that the best financial lessons in the basement don't always come from a spreadsheet.Resources MentionedLenPenzo.com — Len Penzo's full 18-year sandwich survey and price historyHow Kenn Ricci Runs Family Wealth Meetings — the Wall Street Journal piece on transparent family net worth meetings, referenced in the discussionStacking Benjamins Field Kit — the all-in-one budgeting and financial tracking toolSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

This is a free preview of a paid episode. To hear more, visit www.splitzoneduo.comRalph Russo spent many years as a college football writer for the AP and an administrator of the AP Top 25. Now a senior writer for The Athletic, Ralph joins Richard for a preseason chat about the poll everyone loves to hate. In two decades at the AP, Ralph saw just about everything. How does the poll come together? What does it say about the history of college football? It's imperfect, but it's also our best record of how seasons played out across 90 years. Ralph takes us through the AP Poll's history, its current status in the CFP era, and why, in a way, it matters now more than ever. Producer: Anthony Vito

Fresh from passing the CFP exam, Roxy Butner joins Tom to work through a classic retirement fork: take the richer lifetime teacher pension, or accept a $315,000 lump sum and invest it. The math matters, but so do longevity, survivor benefits, liquidity, investing temperament, and the temptation to spend the pile.Next comes a clever tax-payment question: can IRA withholding replace quarterly estimated payments during Roth-conversion years? They explain why paying conversion taxes from taxable money usually preserves more long-term value.The show closes with a 5.25% mortgage-versus-investing decision and a portfolio x-ray that finds a dividend-heavy international fund missing small companies, value stocks, and emerging markets.00:58 Roxy passes the CFP exam02:46 Teacher pension or $315,000 lump sum?08:36 Rolling a pension lump sum to an IRA09:33 IRA withholding versus estimated taxes13:48 Pay off a 5.25% mortgage or invest?17:34 Fixing an under-diversified retirement portfolio21:50 Living—and spending—with a sound planQuestions? Comments? Click!

Pete Thamel, Dan Wetzel, and Ryan McGee kick off Part 1 of the ACC Conference Preview with the biggest storylines heading into 2026. Can the ACC change its national perception? Can Miami return to the CFP? Plus, they break down Notre Dame's evolution and the other ACC contenders that could make a run this season. 0:00 - Welcome 4:15 - Can ACC change its national perception? 11:19 - ACC goes all in on Friday night football 16:41 - Miami's path back to the CFP 19:35 - Can Miami reload in the trenches? 24:07 - Can Notre Dame leave no doubt in 2026? 27:09 - Can CJ Carr become college football's top QB? 32:10 - Notre Dame: From Brian Kelly to Marcus Freeman 38:02 - ACC teams that could make a run: Georgia Tech 41:05 - ACC teams that could make a run: Louisville 46:40 - ACC teams that could make a run: SMU 48:04 - Can Virginia build on its breakout season? Learn more about your ad choices. Visit podcastchoices.com/adchoices

Patrick O'Hare of Briefing.com on the current markets, The S and P 500 rose on the back of a tame U.S. inflation report, This Saturday's event has been cancelled but coming up Saturday September 12th at 10am is the Taxes in Retirement seminar with EP Wealth Advisors and CFP's Ryan Ignacio and Julie Chan-O'Rourke at the Don Tatzin Community Hall at the Lafayette Library

What if your financial advisor cared less about beating benchmarks and more about the family tree, mission, and life you're actually building? In this episode of the Registered Investment Advisor Podcast, Seth Greene interviews Tyson Ray, CFP®, CExP®, CIMA®, CEO and Founding Partner of FORM Wealth Advisors, who shares how an eviction notice on his family's fridge shaped a mission-driven approach to money. As the author of The Total Relationship and the forthcoming Total Succession, Tyson explains why real advisory work starts with family, occupation, recreation, and mission—not pie charts, past performance, or product pitches. He shares insights into scaling past a billion in assets, fixing painful missteps with clients and the team, and preparing both families and advisors for the next great wave of wealth transfer. Key Takeaways:→ How FORM Wealth Advisors structures reviews and planning to reflect the actual shape of a client's life.→ Why advisors stop selling last week's winning lottery numbers and start owning real-life responsibility for clients.→ How FORM Wealth Advisors serves every branch of the family tree and why that has been vital to the firm's growth. → Why cutting “smaller” clients can erode trust in a close-knit community.→ How inheritances split one large relationship into many smaller ones. Tyson Ray, CFP®, CExP®, CIMA®, CEO, and Founding Partner of FORM Wealth Advisors, has developed extensive expertise in investment management, financial planning, and business exit strategies, earning recognition from Forbes, Barron's, and AdvisorHub as a top advisor. Tyson also actively contributes to his community through philanthropic initiatives, including Children's World Impact.His journey began at Badger High School, where, as a sophomore, he invested $100 in mutual funds, sparking a lifelong passion for financial strategy. After graduating from the University of West Florida, he returned to Southern Wisconsin to launch his career in financial services. Tyson enjoys spending time with his wife and three children, as well as hunting, fishing, playing golf, and exploring the outdoors. Connect With Tyson:Website: https://totalsuccession.com/LinkedIn: https://www.linkedin.com/in/tysonray/

On this episode of The Dentist Money Show, Matt and Rabih continue their investing series by exploring the core building blocks of an investment portfolio. They break down the differences between stocks and bonds, explain how mutual funds and ETFs make diversification easier, and discuss why spreading your investments across different asset classes, sectors, and markets can help reduce risk over time. Tune in to learn how these foundational investing concepts can help you build a smarter portfolio. Listen to part one of the investing series to learn all the basics you should know! Book a free consultation with a CFP® advisor who only works with dentists. Get an objective financial assessment and learn how Dentist Advisors can help you live your rich life.

How much control do we really have over our financial future? In this episode, Erik Garcia, CFP®, ChFC®, BFA™ and Dr. Matt Morris, LMFT explore the tension between external circumstances and personal responsibility. While economic conditions, inflation, taxes, and unexpected crises are outside anyone's control, the conversation highlights the many financial choices that still remain firmly within reach. Using concepts like “internal locus of control” and “external locus of control,” they explain how mindset shapes behavior and outcomes. Erik shares practical examples of decisions people can control — saving, spending, insurance, debt management, and lifestyle choices — while Dr. Matt explains how a sense of agency creates resilience and confidence. The episode challenges listeners to stop wasting emotional energy on uncontrollable variables and instead focus on the habits and decisions that move them forward. Episode Highlights: Erik discusses the belief that financial success can feel dictated by external forces outside someone's control. (02:19) Understanding how much control you actually have over your finances is the focus of this episode, Dr. Matt shares. (03:13) Dr. Matt explains the psychological concept of an internal locus of control, describing it as being "the captain of your own ship." (04:44) Entrepreneurs often carry a strong sense of influence and control over their financial outcomes, Erik shares. (06:47) Erik shares a friend's rule that if you can't afford something twice, you can't really afford it, using a car purchase as an example. (09:22) Dr. Matt recounts helping under-resourced clients in New Orleans save small amounts toward $100 so they'd have money to evacuate during a hurricane. (10:36) Recognizing personal control over spending and impulses, rather than adopting a victim mindset, is key to financial success, Erik shares. (13:00) Key Quotes: “Money's emotional. It's tied to fear, identity, habits, and even relationships, and we've learned that long-term financial success is as much about behavior as it is math.” - Erik Garcia, CFP®, ChFC®, BFA™ “Even the best financial plan can be undone by poor behavior, while good financial behavior has the potential to compound more powerfully than investment returns.” - Erik Garcia, CFP®, ChFC®, BFA™ “We don't have control over the weather, but we do have control over saving a little money so we can get to a destination that might be safer.” - Dr. Matt Morris, LMFT Resources Mentioned: Dr. Matt Morris, LMFT Dr. Matt Morris & Associates Erik Garcia, CFP®, ChFC®, BFA™ Xavier Angel, CFP®, ChFC, CLTC Plan Wisely Wealth Advisors

Ryan Lavoie and Tom Peavy keep you updated on Auburn fall Camp, talk about CFP expansion, discuss the Braves and preview the Oklahoma Sooners! Enjoy! 1st Hour: 1:00 - Intro 6:00 - Auburn Fall Camp update 22:26 - Phone Calls 2nd Hour: 58:10 - CFP Expansion news 1:07:45 - Phone Call 1:26:52 - Braves discussion 3rd Hour: 1:34:02 - Oklahoma Sooners Preview

Nick Hopwood, CFP® of Peak Wealth Management joins Steve Gruber to break down the current state of the U.S. economy and financial markets. Nick and Steve discuss the Dow pushing 55,000, last week's monster market performance, inflation at 3.5%, and what these economic trends could mean for investors, retirement planning, interest rates, and the markets ahead. Get Nick's perspective on market momentum, inflation, the economy, and what investors should be watching right now. — ✅ Apply For A Free Retirement Planning Session ✅ peakwm.com/start-here ------------------------------- Stay Connected With Us: Podbean YouTube Apple Facebook X Peak Wealth    

Patrick O'Hare of Briefing.com on the current markets, The S and P 500 rose on the back of a tame U.S. inflation report, This Saturday's event has been cancelled but coming up Saturday September 12th at 10am is the Taxes in Retirement seminar with EP Wealth Advisors and CFP's Ryan Ignacio and Julie Chan-O'Rourke at the Don Tatzin Community Hall at the Lafayette LibrarySee omnystudio.com/listener for privacy information.

A 20-team CFP?

You didn't start your business to live in your inbox. So why does everything still run through you?Every decision, every approval, every client question, every fire, it all routes back to one brain. Yours. That's not a discipline problem. That's a design problem. And no amount of hustling harder is going to fix a business that's structurally leaking your time.This week Stoy Hall, CFP® sits down with Claire French, Operations Consultant & Business Manager and founder of CECO. From Sydney, Australia, Claire builds the operational backbone behind creative, visionary founders so their business can grow without collapsing the second they step away. She meets founders in what she calls the messy middle, that point where you're so tired of wearing every hat you don't even know what's broken anymore.Claire and Stoy get into the stuff nobody wants to admit. Why "just hustle harder" runs you straight into burnout. Why "just hire a VA" is not the answer when you actually have an operational leadership problem. Why systems don't kill the magic of your business, they're the only thing that protects it. And what the first 30, 60, and 90 days actually look like when someone finally takes the backend off your plate.Her hardest truth: you still have to show up. Claire can run the operations, build the systems, and hold the vision with you, but she can't be the visionary. That's you. This one is for every founder who's been the manager, the HR person, the payroll specialist, and the salesperson all at once, and is finally ready to just lead.Write it all down. Track your time. Then get the right help for the right problem. Connect with Claire French: Website: https://claireelizabeth.co/ Work with Claire: https://claireelizabeth.co/menu Instagram: https://www.instagram.com/claire.e.frenchNoBS listener offer: Mention NOBS on a discovery call, or use code NOBS on a Clairety Catalyst for 10% off.If this hit home, drop a comment. Tell me where you're feeling it most. I read every single one.New episodes every week on Spotify, Apple Podcasts, and YouTube. Subscribe so you never miss a real conversation.

"If you're up for it..." Greg Cote made an offer after a few beers several months ago, and now, unfortunately, he has to cash in. Then, Chris eloquently explains the difference between the White Pages and the Yellow Pages, the crew breaks down their first cars, and College Football heads toward a 96-team CFP. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Is Your Retirement Missing Purpose? & Why You Shouldn't Be Scared To Spend Your Retirement Savings Wes starts by looking at what ancient wisdom and modern research teach us about true fulfillment. As we leave the workforce, we often lose daily structure, active socialization, and full households all at once. To counter these major life headwinds, Wes discusses how planning your lifestyle goals even ten years out leads to significantly greater joy once you stop working. Also, Wes tackles the massive psychological barrier of spending down your hard-earned nest egg. Running out of money is the single biggest financial fear for most Americans. Wes shares the rule that offers an extremely high probability of success, giving you the confidence to stop worrying, start spending wisely, and enjoy the retirement you earned. Mentioned on the show: Cost of Living Calculator | City and Salary Comparison Tool Do You Really Need To Rebalance Your Portfolio? If You Have Enough To Retire Comfortably, Should You?   Plus, Christa shares your #AskWes questions and Wes gives his take. All this and more on the August 11, 2026, Ask an Advisor episode of the Clark Howard podcast. Submit your questions: WesMoss.com/ask Discover the research-backed path to an earlier, happier retirement – pre-order The Retire Sooner Method by Wes Moss today at retiresoonermethod.com. We hope you enjoy our weekly Ask An Advisor episodes.  Let us know what you think in the comments! Learn more about Wes:  BOOKS BY WES MOSS   Wes Moss, CFP®  Wes Moss - Clark.com Learn more about your ad choices. Visit megaphone.fm/adchoices

Mike and Rico discuss the issues of NIL and react to what some college football players are making in NIL this year.

Schedule a Free Financial Assessment with an experienced professional:https://bit.ly/YMYWassessCToday on Your Money, Your Wealth® podcast number 594, Joe Anderson, CFP® and Big Al Clopine, CPA spitball retirement planning for high net worth couples: Gary in Pennsylvania is 54 with $10 million, and get this, he still can't decide whether he can walk away or if he needs to grind out a few more years. What is up with that? But before we get to Gary, Frida and Diego are 54 and 52 in California with $5.3 million, itching to start their go-go years. Can they both retire right now? And is $200,000 a year of spending pushing it? Stanley and Stella in New York have a pension decision to make. Choosing the wrong option could leave one of them exposed for life. Free Financial Resources in This Episode: https://bit.ly/ymyw-594 (full show notes & episode transcript)9th Annual YMYW Podcast Survey (password ymyw):https://www.surveymonkey.com/r/ymywpodcast2026Withdrawal Strategy Guide - free download:https://purefinancial.com/white-papers/withdrawal-strategy-guide/?utm_source=captivate&utm_medium=podcast&utm_campaign=whitepaper-withdrawal-strategy-guide&utm_content=ymyw-pod-ep594-description-whitepaperRetirement Spending: How Much is Too Much? - YMYW TV:https://purefinancial.com/ymyw/episodes/retirement-spending-how-much-is-too-much/?utm_source=captivate&utm_medium=podcast&utm_campaign=ymyw-tv&utm_content=ymyw-pod-ep594-description-tv-s12e02Financial Blueprint (free, self-guided):https://bit.ly/YMYWblueprintCREQUEST your Retirement Spitball Analysis:https://bit.ly/YMYWaskCDOWNLOAD more free guides:https://bit.ly/YMYWguidesCREAD financial blogs:https://bit.ly/YMYWblogCWATCH educational videos:https://bit.ly/YMYWvidsCSUBSCRIBE to the YMYW Newsletter:https://bit.ly/YMYWnewsletterCConnect With Us:Subscribe on YouTube and join the conversation in the comments:https://bit.ly/YMYW-YTSubscribe or follow YMYW in your favorite podcast app:https://lnk.to/ymywLeave your honest reviews and ratings in Apple Podcasts:https://podcasts.apple.com/us/podcast/your-money-your-wealth/id312900254Chapters: 00:00 - Intro: This Week on the YMYW Podcast 00:56 - 54 and 52 with $5.3M. Can We Both Retire Now? (Frida & Diego, CA) 18:13 - Which Pension Option Protects Us Both? (Stanley & Stella, NY) 30:23 - Should We Retire at 54 with $10 Million? (Gary, PA) 40:51 - Outro: Next Week on the YMYW Podcast 42:14 - The Derails: Frida & Diego, Tesla, Kir Royale, Streetcar and Brando, Joe's pool remodel

We react to another crazy idea from the CFB media wizards we like to call ESPN. Connor then pitch some unique CFP formats.

The early-season battle between the Texas Longhorns and the Tennessee Volunteers will do more than just let one fanbase call itself "The Real UT." This matchup is a table-setter for the remainder of the SEC season, with both teams hopeful to compete for a conference title and a trip to the CFP. Can Tennessee put up a decent enough defense to match its always-explosive offense?

The 8am hour of Tuesday's Mac & Cube saw Heather Dinich, from ESPN, tell us about the discussions surrounding a 20-team Playoff, why access is the reason for all the changes, and what to expect from this CFP committee; then, the guys look at the top of the SEC and Big Ten to look for differences; later, Cole & Greg debate if the SEC or Big Ten is the better conference this season; and finally, we pose the question - Would you rather your team have stability or reach their ceiling over 10 years. "McElroy & Cubelic In The Morning" airs 7am-10am weekdays on WJOX-94.5!See omnystudio.com/listener for privacy information.

Tuesday's 7am hour of Mac & Cube started off with the debate on whether or not the 20-team College Football Playoff is the right way to go; then, listeners weigh in with their thoughts on what's wrong with a 12-team CFP; later, is the extra conference game for the SEC dooming their Playoff chances; and finally, Cole can't handle one person's thoughts on how Alabama could've won against Indiana. "McElroy & Cubelic In The Morning" airs 7am-10am weekdays on WJOX-94.5See omnystudio.com/listener for privacy information.

-Yahoo Sports' Ross Dellenger reported yesterday that ESPN—the rights holder of the CFP—was going to ‘socialize' with CFP leaders ina meeting Monday about a 16-team format with 4 play-in games to get into the field of 16-So…essentially a 20-team playoff…of courseAdvertising Inquiries: https://redcircle.com/brandsPrivacy & Opt-Out: https://redcircle.com/privacy

This date in history, the QB battle continues in Cleveland, Quick Hitters: Cowboys extend Quinnen Williams, the Bulls could be really good (or bad), & football is still very popular, we continue to hate CFP expansion past 16 teams, Kyle Whittingham continues to say he doesn't hate Ohio State, and Joey McGuire likes being the villain.

Indiana football gets another important eligibility update as Stephen Daley and Kellan Wyatt remain on track to help the Hoosiers' defense, while the IU-Notre Dame scheduling debate continues to stir up national college football conversation.Galen Clavio jumps on CrimsonCast for a quick late-night episode covering the latest court ruling connected to fifth-year eligibility, what it means for Indiana athletes, and why Sam Alexis is still in a separate legal category. He also explains why the canceled Indiana-Notre Dame football series is more complicated than the “IU ducked Notre Dame” version of the story, especially with the Big Ten, USC, CFP incentives, and Notre Dame's independent scheduling position all in the background.The episode closes with fall camp notes from Curt Cignetti, including tight end depth, practice availability, how injuries can create more positional flexibility, and why Kellan Wyatt may have an interesting role in Bryant Haines' defensive packages against 12 personnel.Subscribe to the Back Home Network for more CrimsonCast coverage of Indiana football, IU athletics, Curt Cignetti, the Hoosiers, Big Ten football, and the 2026 college football season.

Who makes the 12-team field? Who gets left out? Which teams make a run — and who wins the National Championship? We're building our full CFP bracket and debating every pick along the way. Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

Three Stackers call into the basement today with three very different problems, but they all boil down to the same uncomfortable question: what do you do when the "obviously right" financial move doesn't feel right? A generous employer match paired with fund choices you're not thrilled about. A tax bracket so low it seems wasteful not to convert. A life that just took a turn nobody expected, and a whole new set of financial tools nobody teaches you about until you need them. Joe, OG, and Anna Allen tackle all three with real, usable answers.What You'll Walk Away WithWhy turning down a five-figure employer match over fund quality concerns is almost always the wrong move, and the workaround that fixes it anywayThe real difference between an actively managed fund and a passive one, and why "active" isn't automatically a red flagA little-known 401k feature that can give you far more investment control without giving up your matchHow to think through a Roth conversion when your income, your future tax bracket, and even the state you'll retire in are all still unknownThe single mistake that quietly wastes a Roth contribution opportunity for good, since you can never get that calendar year backWhat an ABLE account is, and how it's different from a 529 in a way that matters enormously for a family navigating a new diagnosisWhy a special needs trust often gets layered on top of an existing estate plan rather than replacing it, and the questions worth asking an attorney before that meetingWhy This Matters NowGood financial advice usually comes with fine print that nobody mentions: what to do when the textbook answer doesn't quite fit your actual life. A workplace retirement plan with mediocre fund choices, a temporary low-income window that might not last, a family circumstance nobody could have planned for. The goal isn't finding a perfect answer; it's understanding the real trade-offs well enough to make a confident decision and adjust as life changes. That's true whether the stakes are a few hundred dollars in fees or a lifetime of care for someone you love.From the BasementA Financial Action Month detour into meal planning turns into a genuinely useful AI-assisted grocery hack, plus a spirited debate over Aldi loyalty and the eternal question of what actually counts as a proper turnover pastry. Some debates never get resolved in the basement, and that's exactly as it should be.Resources MentionedStacking Benjamins Field Kit — the all-in-one budgeting, net worth, and subscription tracking toolStacko Financial Action Month board — the interactive game with a money move for each squareThree Money Buckets video — Stacking Benjamins' YouTube Financial Basics courseYell Down the Stairs — submit a question for a future episodeSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

When will each BIG 12 football team LOSE its first game of the 2026 college football season?!Heartland College Sports' Pete Mundo predicts the FIRST loss for all 16 Big 12 teams, with an in-depth explanation as to why every team is poised to drop a game along the way. The question is: Will it be Week 1? November? Will any team get to the Big 12 Championship Game or CFP without a loss?Mundo runs down every team in the league from start to finish. Please subscribe and make sure you share the episode with a friend who's a fan of Big 12 football. The show keeps growing and expanding because of YOU!Privacy & Opt-Out: https://redcircle.com/privacy

Mike speaks from the heart regarding the latest with the state of CFB.

Valenti spent the second hour doubling down on his frustrations about college football after hearing some news about the CFP from Jeremy Otto during his update. He took a brief timeout from this topic to discuss his thoughts on Jalen Duren still not being signed by the Pistons.

Five million dollars sounds like more than enough to retire. The real question is whether it supports the life you actually want to live.In this episode, Ari responds to a listener planning to retire around age 55 with roughly $5.1 million and spending close to $16,000 to $17,000 per month. On the surface, the math looks close. A simple rule might suggest it works. But real retirement decisions are rarely that simple.The first layer is structure. How much of that money is in pre tax accounts versus a brokerage account. When most assets are locked inside retirement accounts, access, taxes, and flexibility all become part of the equation.The second layer is concentration. A portion of the portfolio is tied to company stock. That can create opportunity, but it can also introduce risk if too much of the plan depends on a single position. Diversification becomes less about theory and more about protecting the outcome.Then comes the part most plans skip. Lifestyle. Spending is not static. The early years often look different from later years. More travel. More activity. More flexibility. A flat monthly number rarely captures how retirement actually unfolds.Ari also challenges the idea that every dollar needs to be optimized. In some cases, working longer, spending differently, or even pursuing a hobby that costs money can improve quality of life more than maximizing an ending balance.The takeaway is simple. A strong portfolio creates options. The real decision is how to use those options in a way that aligns with your priorities, your time, and the kind of retirement you want to build.--Advisory services are offered through Root Financial Partners, LLC, an SEC-registered investment adviser. This content is intended for informational and educational purposes only and should not be considered personalized investment, tax, or legal advice. Viewing this content does not create an advisory relationship. We do not provide tax preparation or legal services. Always consult an investment, tax or legal professional regarding your specific situation.The strategies, case studies, and examples discussed may not be suitable for everyone. They are hypothetical and for illustrative and educational purposes only. They do not reflect actual client results and are not guarantees of future performance. All investments involve risk, including the potential loss of principal.Comments reflect the views of individual users and do not necessarily represent the views of Root Financial. They are not verified, may not be accurate, and should not be considered testimonials or endorsementsParticipation in the Retirement Planning Academy or Early Retirement Academy does not create an advisory relationship with Root Financial. These programs are educational in nature and are not a substitute for personalized financial advice. Advisory services are offered only under a written agreement with Root Financial.Create Your Custom Early Retirement Strategy HereGet access to the same software I use for my clients and join the Early Retirement Academy hereAri Taublieb, CFP ®, MBA  is the Chief Growth Officer of Root Financial Partners and a Fiduciary Financial Planner specializing in helping clients retire early with confidence.

Learn how five Smart Money listeners changed their money situations after talking with us about tackling job loss, debt, FIRE, and life moves. What really happens after the episode ends? Hosts Sean Pyles, CFP®, and Elizabeth Ayoola check back in with five listeners who came on the show to find out whether the financial moves they made actually paid off. Bri navigated an unexpected job loss and a serious health crisis at the same time. Did a bare-bones budget, a marketplace health plan, and relentless determination hold everything together over 15 months of uncertainty? And what happened when Ellie and her husband actually followed through on their FIRE plan, retired at 44, and moved the whole family to Spain — only to find their passive income took an unplanned hit? Then: Paolo had $3 million saved at 48 and still couldn't bring himself to slow down — could a financial advisor, modeling multiple retirement scenarios, give him the confidence to finally let his money coast? David's cross-country move didn't go quite as planned, leaving him to navigate buying a home in one of the country's priciest markets while managing a long-distance rental. And Delius, who came to the show carrying $100,000 in credit card debt and a Vegas rental property, faced the question of whether selling would feel like freedom — or like giving up a lifeline. Subscribe to our podcast's free email newsletter for bonus content and more from our hosts at https://smartmoney-nerdwallet.beehiiv.com/  Want us to review your budget? Fill out this form — completely anonymously if you want — and we might feature your budget in a future segment! https://docs.google.com/forms/d/e/1FAIpQLScK53yAufsc4v5UpghhVfxtk2MoyooHzlSIRBnRxUPl3hKBig/viewform?usp=header Smart Money's YouTube Channel: https://youtube.com/@nerdwalletsmartmoney To send the Nerds your money questions, call or text the Nerd hotline at 901-730-6373 or email podcast@nerdwallet.com. Like what you hear? Please leave us a review and tell a friend. *The show notes were created with the assistance of AI. They have been reviewed by our editorial team for accuracy and quality. Learn more about your ad choices. Visit megaphone.fm/adchoices