Podcasts about personal financial specialist

In this episode, I welcome Phil Putney, a CPA and author of the Amazon number one bestseller, "The Tax Smart Retiree: A Guide to Thriving in Your Golden Years." Over the past year, we collaborated to transform Phil's extensive experience and knowledge into a book that guides retirees through the complexities of tax-efficient retirement planning.From CPA to Financial Advisor with a Tax FocusProfessional Evolution: Phil began his career over 30 years ago as a CPA with a master's in taxation. His journey took a pivotal turn when he integrated financial advisory services, driven by client needs for cohesive tax and investment strategies.Specialization in Retirement Planning: Recognizing a niche in retirement planning, He obtained his Personal Financial Specialist designation, enabling him to blend his tax expertise with financial advisory services.The Tax Smart Retiree: Simplifying Complex Tax Strategies for RetireesUnique Tax Perspective: Phil emphasizes the importance of long-term tax planning, which is often overlooked in traditional retirement planning. His book provides strategies to manage and minimize taxes through various stages of retirement.Holistic Retirement Planning: The book extends beyond tax advice, offering insights into Social Security, required minimum distributions, and the impact of losing a spouse, which are crucial for comprehensive retirement planning.Educational Initiatives and Phil's Teaching PhilosophyCommitment to Education: His passion for education is evident through his classes and now, his book. His goal is to equip retirees with the knowledge to make informed decisions about their financial futures.Workshops and Classes: Prior to the book, Phil conducted extensive workshops that covered similar content. The book aims to reach a broader audience by condensing his teachings into an accessible format.Insights for Future Financial PlanningAnticipating Tax Changes: Phil discusses the potential implications of expiring tax laws and emphasizes the need for proactive planning based on current legislation.Retirement Income Planning: A significant focus of Phil's approach is understanding the personal spending needs in retirement and planning accordingly, using tax-efficient strategies to sustain the desired lifestyle.Key Takeaways and Future DirectionsImportance of a Customized Plan: Phil stresses that every individual's financial situation is unique, and a one-size-fits-all approach does not apply in retirement planning.Advice for Prospective Clients: For those interested in deeper engagement, Phil offers initial consultations to discuss personal financial situations and explore the fit for his services.About our Guest:Phil Putney author of "The Tax Smart Retiree: A Guide to Thriving in Your Golden Years."You can learn more about his work at:www.afsfinancialgrp.comhttps://afsfinancialgrp.kartra.com/page/WelcomePhil Putney's LinkedInAbout Your Host:  Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of mClaim your free audiobook copy at: www.theshortbookformula.comSupport the Show.

Kevin Feig is an esteemed author, financial expert, and entrepreneur dedicated to helping individuals achieve financial independence. His immersive book, "Walk You To Wealth," serves as a captivating adventure that guides readers through the discovery of financial freedom, backed by his expert advice and personal experiences. Motivated by his love for his wife and children, Kevin penned this comprehensive step-by-step guide to provide much-needed financial guidance to those seeking it.Growing up in Queens, New York, Kevin enjoyed a nurturing upbringing in a loving middle-class family. His father, a hardworking sanitation worker who also owned an Irish pub, and his dedicated homemaker mother instilled in him the values of hard work and perseverance. During his formative years, Kevin often lent a helping hand at his father's pub on Sunday mornings, fostering an early understanding of the importance of entrepreneurship and financial management.Although Kevin had the privilege of attending excellent schools, his education in finance came later in life. He earned a Bachelor's Degree of Science in Accounting from Fairfield University in 2002 and followed it with a Master's Degree in Business Administration in 2003. These academic achievements laid the foundation for his future career in the financial industry.Upon graduating, Kevin embarked on a professional journey that shaped his expertise in finance. His initial role involved reviewing the financial statements of renowned companies like Pepsi and Domino Sugar. Seeking new opportunities, he transitioned to a financial services company, where he honed his skills in risk management over the course of 15 years. Later, he ventured into the world of cryptocurrencies, joining a cryptocurrency exchange. Drawing upon his extensive experience and knowledge, Kevin established Walk You To Wealth, a company dedicated to financial planning, coaching, and education.Driven by his passion for personal finance, Kevin pursued further credentials to enhance his expertise. He earned certifications as a Personal Financial Specialist, a Certified Public Accountant, and a CERTIFIED FINANCIAL PLANNERTM. These achievements solidified his commitment to continue expanding his knowledge and staying abreast of the ever-changing financial landscape.Currently residing in Massachusetts with his wife and two children, Kevin aspires to achieve financial independence by the age of 47. His dedication to his family and his unwavering love for personal finance have propelled him to share his knowledge with others. Through his book and his company, Kevin Feig provides an honest, practical, and actionable roadmap to wealth, demystifying complex financial jargon and empowering individuals to build and maintain their financial well-being. Hosted on Acast. See acast.com/privacy for more information.

Join us for an informative discussion with Rosanne Boser, a Certified Public Accountant and Personal Financial Specialist at the Mayo Clinic.  In this podcast we learn about various financial topics at different stages of an ophthalmologist's career.  Ms. Boser shares advice for physicians at different stages of life, from paying off debt to saving for future goals, including college saving for kids and retirement for you!  She explains many types of investment vehicles including 401 and 403 plans to 529 and Roth financial options.  Whether you are deciding how big of an umbrella policy to buy or how early to retire, please tune in and listen soon! Subscribe to the podcast:  https://MayoClinicOphthalmology.podbean.com Follow and reach out to us on Twitter: @mayocliniceye

Financial Steps to Take Before the End of 2022 with Wayne Titus, CPA/PFS, AIFA®Join Wayne and Katana as they discuss:- Income planning to take advantage of the Tax Cuts and Jobs Act's reduced tax rates .- How to make sure you have withheld enough taxes this year.- Deduction planning to help you avoid a higher tax bracket.Wayne Titus has been involved in the financial services industry since 1991. He served as the founding partner of AMDG Financial and AMDG Tax & Accounting from 2002 until it joined with Savant in 2021. He is a Certified Public Accountant and earned the Personal Financial Specialist credential, and he is an Accredited Investment Fiduciary Analyst® (AIFA®). He is past chair and member of the Michigan Association of Certified Public Accountants' Financial Literacy Task Force.To learn more about Wayne, visit www.savantwealth.com.NOTE: This discussion is intended to provide general information. Please consult your financial professional for guidance on your unique situation before implementing any of the ideas presented. Savant Wealth is a registered investment advisor with the SEC. Visit www.savantwealth.com for more information about the firm.

Frank Gutta is a nationally-known and highly-respected Certified Public Accountant and Personal Financial Specialist. Based in Florida, Frank helps his clients across the United States safely achieve financial success, reduce their taxes, invest wisely and prepare for a long, happy, and prosperous retirement. With more than 35 years of experience, Frank Gutta has developed deep expertise in safe investment strategies and in how to use innovative insurance solutions to help his clients enjoy true financial peace of mind. Frank is the author of two popular books, Your Safe Retirement Roadmap and Must Know Tax Tips for Small Businesses. Out of more than 650,000 Certified Public Accountants in the USA, fewer than 6,000 are Personal Financial Specialists and Frank Gutta is one of the few to hold the prestigious PFS designation. Frank has been married for almost four decades to his wonderful wife Feroza and is the proud father of two adult children, Sofia and Shaun. Frank recently became a grandfather when his son and daughter-in-law had a baby boy and then his daughter and son-in-law had a baby girl! Frank is a high-energy person who loves sports and is a long-time Miami Dolphins fan. Frank Gutta is passionate about helping his clients retire in a safe secure way so that they never have to worry about a stock market crash and so that they will always have the money they need to live the lifestyle they desire for the rest of their lives! Frank views his clients as family members and many of them have been with him for more than 35 years. At the same time, Frank is always adding new clients in every age group and every type of profession. Frank has dedicated himself to protecting his family and providing them with a wonderful lifestyle. When you work with Frank Gutta, you will become part of his family. Reach out to Frank for a free, no-obligation review of your finances, your investments, your taxes, and your insurance. Frank Gutta looks forward to helping you save a tremendous amount of money, invest safely and wisely, and then to enjoying the retirement of your dreams! www.Yoursaferetirementroadmap.com --- Support this podcast: https://anchor.fm/shutupandgrind/support

Join us as we talk about our emotional authority and how this becomes your emotional wisdom. Alana Heim is the owner and soul essence of Prosperity Alignment, Inc. She serves in a unique role of being a Cosmic Prosperity Activator guiding you to navigate the energetic currents beneath your work, life, and money, so you naturally flow in the river of infinite prosperity. Alana is a Certified Public Accountant, a Personal Financial Specialist, and a Certified Financial Planner™. She pairs this conventional experience with out-of-the-box thinking, Human Design expertise, Quantum Alignment System™ training, neo-shamanic remote energy healing, sound channeling, and intuitive wisdom. Alana is a 3x best-selling contributing author to Abundance By Design: Discover Your Unique Code for Health, Wealth and Happiness with Human Design, What's Money Got to Do With It? and Stop Overworking and Start Overflowing: 25 Ways to Transform Your Life using Human Design. To find more information on Alana alana@ProsperityAlignment.com www.ProsperityAlignment.com 775.525.1355 --- Send in a voice message: https://podcasters.spotify.com/pod/show/laura-j-adair/message Support this podcast: https://podcasters.spotify.com/pod/show/laura-j-adair/support

FINANCIAL WELL-BEING FOR ENTREPRENEURSFinancial well-being for entrepreneurs often means having a successful business that lets you draw a steady paycheck with benefits. But there is really more to it than that according to our guest, Wayne Titus III, who literally wrote a book on the subject. Let's find out what he means and what we can do to improve our own financial well-being. What You'll Discover About Financial Well-Being for Entrepreneurs (highlights & transcript):https://businessconfidentialradio.com/?p=184594&preview=true# (HIGHLIGHTSCLICK HERE FOR AUDIO TRANSCRIPT) * #1 Thing entrepreneurs need to achieve financial well-being [01:59] * 3 Types of financial advisors every entrepreneur needs to know about [04:41] * Most important thing to look for when selecting an advisor to achieve financial well-being [06:53] * Dangers of financial advice not being coordinated and integrated [07:59] * What entrepreneurs fail to take advantage of that can improve their financial well-being [11:56] * Why financial well-being for entrepreneurs requires a team of advisors [17:59] * And much MORE. ♥ Share this episode with someone you think will benefit from it. ♥ ♥ Leave a review at https://lovethepodcast.com/BusinessConfidential (Lovethepodcast.com/BusinessConfidential )♥ Guest: Wayne Titus III, CPAWayne Titus has been involved in the financial services industry since 1991. He served as the founding partner of AMDG Financial and AMDG Tax & Accounting from 2002 until it joined with http://savantwealth.com/ (Savant) in 2021. Before founding AMDG Financial, Wayne was a senior manager for PwC, where he was responsible for developing and implementing the information technology and business process audit approach in support of both financial statement audit and consulting projects for various Fortune 50 clients. At the time of the Price Waterhouse and Coopers and Lybrand merger, he worked at integrating these approaches on the international team in London. Wayne also served as financial audit and systems control manager for Ernst & Young. Wayne earned a bachelor of arts degree in business administration from Grove City College in PA, a bachelor of science degree in accounting from the University of South Florida, and a master of science degree with honors in employee benefits from John Marshall Law School (now University of Illinois Chicago School of Law). He is a Certified Public Accountant and earned the Personal Financial Specialist credential, and he is an Accredited Investment Fiduciary Analyst® (AIFA®). He is past chair and member of the Michigan Association of Certified Public Accountants' Financial Literacy Task Force. Wayne is a member of Rotary International and served as the district governor and club president for Rotary District 6400. He volunteers as an accelerator coach for Entrepreneurs' Organization. Wayne authored the book, https://www.amazon.com/Entrepreneurs-Guide-Financial-Well-Being/dp/1544512368/ref=sr_1_2?crid=1B9AFFDGCPG3F&keywords=wayne+titus&qid=1644185793&s=books&sprefix=wayne+titus%2Cstripbooks%2C68&sr=1-2 (The Entrepreneur's Guide to Financial Well-Being), and loves to educate others on financial, tax and investment topics by writing columns and through public speaking. Related Resources:Contact Wayne and connect with him on https://www.linkedin.com/in/wayne-b-titus-iii-5442971/ (LinkedIn) and https://twitter.com/wbtiii (Twitter.) Join, Rate and Review: Rating and reviewing the show helps us grow our audience and allows us to bring you more of the rich information you need to succeed from our high powered guests. Leave a review at https://lovethepodcast.com/BusinessConfidential (Lovethepodcast.com/BusinessConfidential) Joining the Business Confidential Now family is easy and lets you have instant access to the latest tactics, strategies and tips to make your business more successful....

Alana Heim is a Certified Public Accountant, a Personal Financial Specialist, a Certified Financial Planner™, and a Certified Human Design Level 4 Specialist. Alana is the owner of Prosperity Alignment Inc. and serves as a Prosperity Facilitator. She wrote the chapter Money in the best-selling book, Abundance By Design: Discover Your Unique Code for Health, Wealth and Happiness With Human Design. She also wrote the chapter Take Control of Your Financial Well-Being in the best-selling book, What's Money Got to Do With It? . How do we connect with you? http://www.ProsperityAlignment.com http://www.instagram.com/ProsperityAlignment http://www.youtube.com/ProsperityAlignment http://www.facebook.com/ProsperityAlignment

15% off at Stello Mints - Click Here Welcome to the Conscious Millionaire Show for entrepreneurs,  who want to create an abundant future for themselves and humanity. Heard by millions in 190 countries.  Do you want to put more money in the bank, create a powerful impact, and enjoy a purposeful life? This is the podcast for you! Join host, JV Crum III, as he goes inside the minds of Millionaire Entrepreneurs and World-Class Business Experts. Today's featured episode... James Luffman: It's Not What You Make, It's What You Keep James Luffman is a Certified Public Accountant and a Personal Financial Specialist as designated by the American Institute of CPA's. He has been working for his Company for 35 years, starting as a staff accountant serving in various positions including Chief Investment Officer and then becoming the Majority owner of the company. The firm started out as a traditional CPA firm and then we started doing Financial Planning for our clients which led to Money Management. The firm manages over $2 billion today. Like this Podcast? Get every episode delivered to you free!  Subscribe in iTunes Download Your Free Money-Making Gift Now... "Born to Make Millions" Hypnotic Audio - Click Here Now! Please help spread the word. Subscribing and leaving a review helps others find our podcast. Thanks so much! Inc Magazine "Top 13 Business Podcasts." Conscious Millionaire Network has over 3,000 episodes and millions of listeners in 190 countries. Join us as a regular listener to get money-making secrets on how you can grow your business and profits faster! 

15% off at Stello Mints - Click Here Welcome to the Conscious Millionaire Show for entrepreneurs,  who want to create an abundant future for themselves and humanity. Heard by millions in 190 countries.  Do you want to put more money in the bank, create a powerful impact, and enjoy a purposeful life? This is the podcast for you! Join host, JV Crum III, as he goes inside the minds of Millionaire Entrepreneurs and World-Class Business Experts. Today's featured episode... James Luffman: It's Not What You Make, It's What You Keep James Luffman is a Certified Public Accountant and a Personal Financial Specialist as designated by the American Institute of CPA's. He has been working for his Company for 35 years, starting as a staff accountant serving in various positions including Chief Investment Officer and then becoming the Majority owner of the company. The firm started out as a traditional CPA firm and then we started doing Financial Planning for our clients which led to Money Management. The firm manages over $2 billion today. Like this Podcast? Get every episode delivered to you free!  Subscribe in iTunes Download Your Free Money-Making Gift Now... "Born to Make Millions" Hypnotic Audio - Click Here Now! Please help spread the word. Subscribing and leaving a review helps others find our podcast. Thanks so much! Inc Magazine "Top 13 Business Podcasts." Conscious Millionaire Network has over 3,000 episodes and millions of listeners in 190 countries. Join us as a regular listener to get money-making secrets on how you can grow your business and profits faster! 

In this episode, John and the gang discuss the ins and outs of buying your first home. Our current real estate market is showing that it may be best to wait to get the best bang for your buck. In other cases for those who cannot wait, they may be getting into bidding wars with other buyers. We would hate to see someone run into buyers remorse just trying to get out of their current apartment/situation. Always do your homework prior to make sure you are never making a mistake!We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

In this episode the gang discusses how and why millions of Americans end up living paycheck to paycheck. They also talk about what it takes to get out of the rut, you certainly just have to stick to your plan and you can end up in a much better place than you are now!We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

In this episode John and the gang discuss the current investing strategies and why you should still care about long term investing. What is your common strategy, are you in both? are you a long term hodler?We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

In this episode John and the gang discuss discuss the current situation with the IRS and why the tax refunds are so far behind. John also discusses why we do taxes in the United States comparative to other countries. 

In episode 68, the gang discusses the current economy with meme stocks, supply and demand issues, and how real estate is looking in tourism areas. We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

In this episode, the gang discusses good credit options and bad credit options. Inevitably, everyone will eventually end up with a bit of debt against themselves. Not in every situation does debt need to a bad thing. Find the importance of having some good debt owed to help build a business, education or your future!We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

Where does a pediatric dentist put money in 2021? Let's talk a little about the personal finance and wealth-building side of pediatric dentistry. Evan Koch is a Certified Public Accountant holding the Personal Financial Specialist designation of the American Institute of CPAs. Evan's extensive tax planning experience allows him to incorporate individual and business tax strategies into comprehensive financial plans that include pension planning, wealth management, and business structuring. His practice centers around tax planning and financial consulting for dentists and dental specialists, including many pediatric dentists. He joins us today to talk about the current state of the stock market, inflation, savings rates, paying off student loans, and general steps towards reaching financial freedom. Evan also shares his #1 common attribute that he sees in his most financially successful dental clients.

John spends some time explaining the differences between puts and calls. He also touches on why this trading type can be useful to use in a portfolio. Check out this episode to learn more on how Options can diversify your portfolio and change you style of investing!We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

In this episode, John and the gang discuss the current stock market, housing market and investment side of things. Where should your money and your head be at this time?We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

In this episode John talks more about what the brokerages are like. Some specific financial brokerages may offer services for a charge while others may offer their services for almost free. What type of broker fits your needs?We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

John is joined with Doctor Tracy Price on the show to talk about how you can keep your body safe and healthy. The importance of this information is a healthy body and mind help you utilize your savings, investments, and other financial vehicles well into a healthy future. We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

In episode 54, John and the gang discuss long-term and short-term capital gains along with more information about incoming tax laws. With the new craze in investing understanding capital gains is very important, Uncle Sam gets his cut on short-term gains but not on all long-term gains. We want to know more about your situations so we can create better tailored content. John and the team can be reached at jcindia@lifestagesadvisory.com. Reach out to us so we can get you or your segment featured on the show!

Rob starts podcast 325 with a new guest and a different format. Here he answers listeners’ questions with Cortlon Cofield, a CPA and personal financial specialist who runs Cofield Advisors, a financial planning firm that provides advice for millennial entrepreneurs.

Robin Gordon is a Certified Public Accountant and a Personal Financial Specialist whose passion is educating and empowering her clients in all things financial. She helps people achieve financial goals by working with them to minimize taxes, protect and grow assets, and transfer wealth responsibly.  She has an Amazon best seller book: “Living the Best Life You Can with the Money You Have, Create a Financial Plan that Works for You.” Robin was born in San Francisco and now lives in Richmond, Virginia.

Looking for a financial advisor? Watch this FIRST! Here's how to find a financial advisor you can trust . . . a FIDUCIARY financial advisor who will put your best interests first and foremost. You can find the full blog and links to downloads at RetireWire.com - just type in "how to find a financial advisor you can trust" in the search box. Finding a financial advisor is easy, learning how to find a financial advisor you can trust is not easy. In this webinar, I break down the 5 steps to finding a financial advisor you can trust. 1. Find a fiduciary financial advisor. A fiduciary standard of care is the gold standard. A suitability standard is a very low bar to cross. 2. Learn how are financial advisors paid. There are commission financial advisors and fee-only financial advisors. Fee-based financial advisors take fees AND commissions. 3. Expect the right credentials such as the CERTIFIED FINANCIAL PLANNER designation or the Personal Financial Specialist designation. Additionally, make sure you're working with a financial advisor that specializes in what you need for example college planning, or divorce planning. 4. Use resources like the National Association of Personal Financial Advisors or the Garrett Planning Network to search for qualified financial advisors. 5. Interview them! I list some financial advisor interview questions and link some great financial advisor questionnaires for you to take to the interview.

In this episode, podcast host and author of “Control Your Retirement Destiny”, Dana Anspach, covers part 1 of Chapter 12 of the 2nd edition of the book titled, “Whom To Listen Too.” If you want to learn even more than what there is time to cover in the podcast series, you can find the book “Control Your Retirement Destiny” on Amazon. Or, if you are looking for a customized plan for your retirement, visit us at sensiblemoney.com to see how we can help.   Chapter 12 (Part 1) – Podcast Script Hi, this is Dana Anspach. I’m the founder and CEO of Sensible Money, a fee-only financial planning firm. I’m also the author of Control Your Retirement Destiny, a book that covers the numerous decisions you need to make as you plan for a transition into retirement. This podcast covers the material in Chapter 12, on “Whom To Listen To”. Meaning, when you need financial advice, who can you turn to? If you like what you hear today, go to Amazon and search for Control Your Retirement Destiny. And if you are looking for a customized plan, visit sensiblemoney.com to see how we can help. ----- Not everyone needs a financial advisor, but certainly everyone needs reliable financial advice. So where do you find it? That’s what I cover in this episode. There are three main places to find advice – the media, the product manufacturers, and the 250,000 to 350,000 people out there who go by the label “financial advisor.” I’m going to cover all three. First, the media. Early in my career in the mid 90’s, I had an experience that made me realize the impact of the media. A client called up one day, quite excited, and said, “Do you have municipal bonds?” “Yes,” I replied. “Why do you ask?” “Well,” she said, “they told me I need municipal bonds.” I was a bit confused, as I was her financial advisor, so I apprehensively said, “Do you mind telling me who ‘they’ are?” “Oh,” she said, “you know—the people on TV.” Municipal bonds provide interest that in most cases is free from federal taxes, and if the bond is issued by the state you live in, it may be free of state taxes too. That means municipal bonds can be a good choice for investors in high tax brackets who have investment money that is not inside retirement accounts. This client however, was in a low tax bracket and most of her money was inside her IRA. The TV host didn’t provide specifics—only an overview of municipal bonds and the fact that they paid tax-free interest. This woman heard “tax-free” and thought it must be something she should pursue. The media doesn’t know you. I don’t know you either. I get inquiries from strangers on a regular basis asking for advice. Most of the journalists and other media personalities I know experience the same thing. Someone emails us a few pieces of data and wants to know what to do. It’s hard, because we want to help. But we don’t want to guess. To feel comfortable giving financial advice, most of the time I need to do a thorough financial projection. To do it right, I need to know everything about someone’s financial life. Once I see the entire picture, I can answer a question about the particular puzzle piece someone is asking about. Today, the media encompasses both traditional venues, such as TV, radio and magazines, as well as numerous online mediums, like blogs and podcasts. In all forms of media, there are pay-to-play articles, spotlights and links. There is nothing wrong with the pay-to-play model, as long as it is disclosed. As a consumer, you just need to be aware that many things you see, such as certain top advisor lists, are put together because someone paid to be on the list. Many product endorsements in blogs are there because the blogger gets affiliate revenue, or advertising revenue. The other challenge with media advice is that, by nature, it is designed to be mainstream broad content. For eight years, I worked to write articles that fit within a 600-800 word count requirement. For most financial topics, you can’t cover all the rules in 600-800 words. Then I would receive emails from people letting me know which items I missed. For example, I can write about the topic of Roth IRAs and generically say that most people are better off funding after-tax Roth IRAs or 401ks instead of pre-tax IRAs, and as I write that I can instantly think of numerous exceptions. Media advice is not personal. That means you should think of it as education – but not as advice. For it to be good advice, it must be personal. By all means, use the media, books, podcasts, articles and shows as a great resource to learn from. But don’t forget that the person producing that content doesn’t know you. Next, I want to discuss the industry of financial advice. There is a big difference between a product and advice, and as a consumer, you need to be able to identify which is which. In 1995, at age 23, I started my career as a financial advisor. I studied for 60 days and passed an exam. I was granted a Series 6 securities license. I didn’t know much, and I didn’t know that I didn’t know much—but I was a financial advisor. This Series 6 license granted me the right to sell mutual funds. That meant I could legally collect a commission on sales. I went to work. I was lucky enough to have a mentor who taught me to make a financial plan for each client and then recommend products based on the results of the plan. But, I worked for a product company. My job was to sell their proprietary mutual funds and insurance products and I was paid based on what I sold. What if a client wanted advice on their 401(k) plan offered by their employer? I wasn’t supposed to provide that type of advice because it was outside the scope of the company’s offerings and outside the scope of the errors and commissions insurance. What is someone had tax questions? I was supposed to tell them to go talk to their tax advisor. As I learned more about the industry, I decided I wanted to be independent. I wanted to be able to recommend any product that fit the client’s needs. And I wanted to be able to answer questions on all aspects of their finances. Today, 25 years later, many financial advisors are still not independent. They carry an insurance license or securities license and are paid primarily to sell the products their company authorizes them to sell. What do I mean by product? I mean mutual funds, exchange-traded funds, mortgages, annuities and other insurance products. A company must produce it, make sure it complies with current laws, and then have a distribution channel to market the product. Some companies market directly to the public. Vanguard, who’s flagship product is mutual funds, comes to mind when I think of this type of distribution channel. Other companies market both to the public and through a network of advisors. Fidelity and Charles Schwab are two examples of companies who have their own products, and who distribute their products directly to the retail public as well as through a network of advisors. Then you have insurance products, which are generally marketed through a network of either captive or independent agents, or through brokers who also carry an insurance license. As an independent advisor, I receive solicitations almost daily from product manufacturers. I find many of them offensive. For example, although it has been almost 15 years since I have carried an insurance license, I routinely receive email offers explaining how I can make $50,000 or more in commissions next month by putting clients in the latest annuity offering. It is hard for me to believe that that the advisors out there who respond to these offers have their clients’ best interest in mind. In addition to products such as mutual funds and mortgages, you have service packages to choose from. For example, there are now online firms called RoboAdvisors who offer a platform where the investments are selected and managed for you for a fee. This service package is for investment advice. I like these service packages and I think they are better than product-oriented sales people. Yet, investment advice should not to be confused with holistic financial planning. A service that manages a portfolio for you is not the same as a financial planner who looks at your household finances and gives advice on all aspects of your balance sheet. Many financial advisors—and the media—place far too much emphasis on product selection and investment advice and far too little emphasis on financial planning. Think of it this way; you would probably find it odd if you went to the doctor, told them your symptoms, and without any examination they began to write you a prescription. This situation happens regularly with the delivery of financial advice. I hear war stories from consumers who come in to interview us. They tell me about advisors who began the conversation by touting their investment prowess, or talking about a variable annuity that can somehow both grow and protect your money at the same time. These advisors start off by talking about products instead of starting with a household view of the client’s finances. Financial planning is about how much you save, what types of accounts you contribute to, how you track your expenses and net worth, and how to set yourself up for success no matter what happens with the economy or the stock market. There is not a product out there that can solve a financial planning problem. Just as you can’t take a drug that overcomes the effect of a lifestyle of no exercise and unhealthy eating, you can’t find a magic investment answer to a habit of not planning and not updating your plan on a regular basis. Your key take-away is do not confuse a product recommendation with advice. If you can recognize the difference, you’ll be well on your way to being able to know who to pay attention to, and who to ignore. That brings us to the last topic, which is do you need a financial advisor, and if so, how do you find the right one for you? I am clearly biased when it comes to this topic. I am a financial advisor, and I own a firm that delivers financial advisory services. Thus, I would like to share someone else’s thoughts on this question. I’m fan of the online advice website Oblivious Investor (www.obliviousinvestor.com), written by Mike Piper. Mike also has a series of short cliff-note like books on various financial topics. In his book titled Can I Retire?, Mike states that “… most investors do not need a financial advisor if they’re willing to take the time to learn all the ins and outs.” But he adds that “as an investor gets closer to retirement the usefulness of an advisor increases dramatically.” I agree with this. Not everyone needs an advisor. If they are willing to learn all the ins and outs. Yet, as you near retirement you have a series of permanent and often irreversible decisions to make. Most people can benefit from expert advice at this phase. Smart advice can provide results that are measurable in dollars and priceless in terms of how comfortable you feel as you transition into retirement. So, where do you find the right advisor? I’m going to walk you through the main criteria to consider. I’ll cover how advisors are licensed and regulated, how they are compensated, and what credentials to look for. First, regulations. There are two organizations that regulate the financial advice industry. One is FINRA, which is an abbreviation for the Financial Industry Regulatory Authority. When you carry a securities license you are regulated by FINRA. A securities license legally allows you to collect a commission from a transaction. I started my career with oversight from this organization. Then there is the SEC which stands for the Securities and Exchange Commission. When you are an investment advisor who charges a fee for advice – a fee that is not dependent on the sale of a specific product, and you have over $100 million of assets that you manage, then you are regulated by the SEC. If you are a smaller firm with less than $100 million then you are regulated by your state securities commission instead of the SEC. You can be regulated by both FINRA and the SEC. In technical language this is referred to as a “hybrid advisor”. In my mid-career years, I worked at a CPA firm and we carried securities licenses, insurance licenses and were able to charge a fee for investment advice. We were regulated by FINRA, our states’ insurance office, and our state’s securities division. Now my firm is only regulated by the SEC. We carry no securities or insurance licenses. We cannot be compensated from the sale of a product. We fall under the rules of the Investment Advisor Act of 1940, which means as a matter of law, we have a fiduciary duty to our clients. As it stands today in 2019, the majority of advisors are still not fiduciaries. I advise people to seek financial advice from someone who is a fiduciary and will acknowledge that they have a legal duty to provide advice in their client’s best interest. The simplest way to find advisors that meet this standard is to find advisors who are regulated by the SEC or their state, but not by FINRA. You can also visit an organization called NAPFA, the National Association of Personal Financial Advisors, and use their search for an advisor feature. All advisors who are members of this organization are fee-only advisors who have a fiduciary duty to their clients.The way someone is regulated also has a relationship to how they are compensated, which is the next key thing to consider when hiring someone. I’ll cover four of the most common compensation structures. First, commissions. Under a commission structure, when you buy an investment or insurance product, your financial advisor receives a commission for the sale of that product. Advisors who are compensated by commissions may have a limited set of investment products to choose from. I have met advisors under this model who sell only variable annuities, only mutual funds, or only life insurance. They know their products inside and out, but all too often, they have limited knowledge of the choices available outside of their product line. If you have already determined the type of investment product you need, the right commissioned advisor may be a great resource to help you sift through the choices in that product line, but they may not be the best resource in helping you design your overall plan. Next, there is hourly pricing. With an hourly pricing structure, you are paying for your advisor’s time. Most advisors who charge hourly will provide you an up-front estimate of the amount of time it may take. With hourly pricing, much like that of an attorney or CPA, rates vary with the experience level of the advisor. Average rates range from about $100 to $300 an hour. I used to offer a la carte financial advice where someone would pay an hourly rate and I’d assist with whatever project they asked for. Why did I stop doing this? I found that when looking at only a piece of someone’s finances I couldn’t feel confident I was giving the right answer. For some folks, hourly pricing is a perfect fit. An organization called Garret Planning Network offers a great search feature where you can locate hourly planners. If you want portfolio advice on an hourly basis, check out RickFerri.com. Rick is a Chartered Financial Analyst who offers customized investment advice on an hourly, as-needed basis. Next, you have financial planning fees. Some advisors charge per financial plan. They quote you a specific price that covers a set of services. Pricing may range from $1,000 to $15,000 for a written plan, recommendations, and a defined number of meetings. Typically, you get what you pay for, so if the plan is free, watch out. The plan pricing is often customized to the complexity of your situation. And last, there is one of the most common structures, which is charging a percentage of assets managed. Under this method of compensation, an advisor will handle the opening and management of accounts and may also offer financial-planning advice along with investment advice. Pricing ranges from about 0.5% to 2% per year. Usually the more assets you have, the lower the rate. Many advisors have minimum account sizes. You can ask an advisor what their minimum is before you meet. There can be a vast difference in services offered for exactly the same rate. For example, brokers may put you in a fee-based account model where investments are managed by software. They may charge 1.5% a year and yet not be able to offer any tax planning advice. At my firm, for a lower rate, we do far more than put you in an account model and rebalance once a year. We update your financial plan, provide advice on accounts outside our management, run an annual tax projection, and match your investment needs to your retirement cash flow needs. It takes far more hours than most people think. And, we keep people from making horrible mistakes with their money. Not everyone is cut out to do their own financial planning and investing. For those who aren’t, 1% is a great value. As you age, you must also consider your spouse. You may be well qualified to manage your finances and investments on your own, but whose hands might your spouse end up in when you’re gone? It may be better for you to select the appropriate firm now rather than leave such a thing up to chance. The last thing I want to cover is credentials. As of 2017, a research firm named Cerulli Associates estimates there are about 311,000 financial advisors in the United States. About 82,000 have a Certified Financial Planner designation. To make sure your advisor has the basic education, what I might call a bachelor’s degree in financial planning, choose someone with the CFP® designation. Another similar designation that qualifies someone is the PFS or Personal Financial Specialist designation which can only be acquired by a CPA. By hiring a CFP or PFS you can be confident that your advisor has the needed education in the basic financial concepts they must know. I started my career without any credentials and without any education in financial planning. I was earnest, believable, and genuine. I had never owned a home, didn’t know anything about taxes, and had no perspective on what a bear market would look like. Yet I was a financial advisor. I believe a lot of advisors are like I was when I started my career: well-intentioned. However, that doesn’t mean they know what they are doing. At my firm we work as a team, so planners who are younger in their careers work side by side with someone more experienced. You’ll have to determine how much experience you think is appropriate. I recommend a minimum of five years. You’ll also have to determine if you have other advanced needs. If you need an advisor who is a specialist, then look for additional designations. At Sensible Money, we are retirement income specialists. We carry an RMA or Retirement Management Advisor designation, which I equate to getting a master’s degree in the distribution phase. The focus of an RMA is on decumulation planning. If you want an investment specialist, look for a CFA, or Chartered Financial Analyst. You most often see this designation among people who manage institutional money such as for mutual funds or pension funds. You may want a CFA, or want to work with a firm that has a CFA as part of their team, if you have advanced investment-management needs—for example, you may own a big chunk of employer stock, are an officer of a publicly traded company, or have inherited complex investments. When it comes to hiring an advisor, lay out what you are looking for in terms of how the advisor is regulated, compensated, and what credentials they carry. Then only interview those who fit your criteria. That wraps it up for the first part of Chapter 12 on “Whom to Listen To”. I will be recording additional content from Chapter 12 on “Interviewing Advisors” and on one of the most important topics I can think of - “Avoiding Fraud.” ----- Thank you for taking the time to listen today. Visit amazon.com to get a copy Control Your Retirement Destiny in either electronic or hard copy format. You can also visit sensiblemoney.com, to see how a staff of experienced retirement planners can help.  

Alex Cudzewicz is president of Oak Brook Asset Management, Corporation, which provides investment advisory services for individual clients. He founded the firm in 1993. Cudzewicz is a Registered Investment Advisor and has been awarded the Personal Financial Specialist designation by the AICPA. He is also a licensed CPA in Illinois. Cudzewicz has been a member of the ASCPA’s Financial Planning Committee for 18 years and is joining us today to talk more about the session he will present at the ASCPA Financial Planning Conference titled Managing Client Expectations. The conference will be held June 6 at the Desert Willow Conference Center, and you can register for the conference at www.ascpa.com/fpc19.

Michael Eastham founding principal of Fellowship Financial Group in Altamonte Springs, Florida. Mr. Eastham has been involved in financial services for over twenty five years. He is an active member of the American Institute of CPA's and has earned their Personal Financial Specialist designation. For more information go to MoneyForLunch.com. Connect with Bert Martinez on Facebook. Connect with Bert Martinez on Twitter. Need help with your business? Contact Bert Martinez. Have Bert Martinez speak at your event!

Episode Description When I first started to research this episode, the idea of talking about financial wellness with what I thought of as a tax or accounting firm seemed a bit off the mark.  However, after my first conversation with our guest Kent Allison, a Partner and National Leader of PwC’s Employee Financial Wellness Practice all my concerns quickly went away!  As you will hear, not only does Kent and his team advise large multi-national organizations on financial wellness strategies, but he is also the author of the PwC Annual Employee Financial Wellness Survey which is now in its  seventh year.  Kent were able to get together while he was in Los Angeles and record this episode where he shares his expertise and perspective on topics such as the key differences between financial literacy programs and financial wellness, what obstacles can impact the success of a financial wellness program and how poor financial health can have a bigger impact on your employees than poor physical health.  Also, be sure to listen for some great ideas on helping HR & Finance communicate effective about employee financial wellness.  To download a copy of the PwC Financial Wellness Survey go to www.401kfridays.com/pwc.  While you are there, be sure to subscribe to the podcast and our email list so you don’t miss any future episodes!  I hope you enjoy my conversation with Kent! Guest Bio Kent is the National Leader of PwC’s Employee Financial Wellness Practice, which specializes in providing un-biased financial wellness and counseling services to employees of domestic and multi-national organizations. Recognized as one of the world’s leading advocates of employee financial wellbeing, and the author of PwC’s Annual Employee Financial Wellness Survey, Kent has served as a strategic advisor to leading financial institutions, worked with various government entities focused on improving financial literacy, consulted with the US Military to address the needs of its personnel and is involved with various initiatives in the not-for-profit and charitable arena. He is a regular guest speaker at conferences across the globe, is frequently quoted in the press and has served as technical advisor and key contributor to four books on financial planning. ​He is a CPA, a Personal Financial Specialist, a graduate of Rutgers College and a long, suffering fan of their sports teams.   401(k) Fridays Podcast Overview Helps employers navigate the evolving retirement benefits landscape through weekly engaging interviews with industry leaders, subject matter experts and progressive employers with unique viewpoints. The diverse in-depth perspectives and relevant topics help employers make more informed decisions about their retirement benefit programs which will positively impact their employees and business.  For more information please visit www.401kfridays.com/podcasts.

Noah Rosenfarb is a Certified Public Accountant, Accredited in Business Valuation, and a Personal Financial Specialist. He is a Personal CFO and Holistic Wealth Coach at Freedom Business Advisors, which provides middle market business owners guidance on how to successfully transition out of the management and or ownership of their company. Mr. Rosenfarb is the author … Continue reading Noah Rosenfarb – Author – Exit: Healthy, Wealthy and Wise →

Joe Green is a trusted and highly regarded fitness expert, motivational speaker, lifestyle coach and published author.    John Mikesh  has always had a passion for all things stemming from the “home.He has practiced real estate, quickly carving out his share of the market. Along with being top 10 in the state for RE/MAX International as a single agent, his team now resides within the top 25 on a regular basis. He has also been featured in multiple issues of Charlotte magazine as a 5 Star  professional,” holds awards from every training program he has been associated with and continues to set challenging goals for the future.  Dr John Lhota has been a practicing dentist in New York City for 25 years, providing comprehensive dental care with an emphasis on conservative quality care. He is a distinguished member of the ADA, NY County Dental Society, Academy of General Dentistry, Crown Council, Sierra Club, and a supporter of the North Shore Animal League. He is the owner of Central Park West Dentistry, a successful dental practice on the Upper West Side. His practice has received several awards.  Jon Neal of theThe Neal Group LLC  has over 35 years of experience in public accounting. He has helped hundreds of businesses grow by offering hands on assistance in accounting systems, business creation and expansion, tax planning, financial planning, organizational development and acquisition strategies. He received the Personal Financial Specialist designation from the American Institute of Certified Public Accountants, Milwaukee Magazine has named Jon a Five Star Wealth Advisor in the accounting area only one of three CPA's in the Milwaukee Area to be named. He is the author of The Best Doggone Tax Advice and Breaking the Tax Code.

Dennis was born in England and immigrated to Los Angeles with his parents in 1957. Dennis received his business degree at California State University, Northridge. During his early career he obtained extensive accounting and auditing experience with one of the major accounting firms. After working at a local CPA firm, Dennis established his own practice in 1977. As a proactive CPA, Dennis assists his clients with their present and future plans and assisting them with all phases of their business needs. Dennis is licensed as a Certified Public Accountant in California, is a member of the American Institute of Certified Public Accountants and the California Society of Certified Public Accountants. He has earned the certification as a Personal Financial Specialist as issued by the AICPA. He has served as president of the Sherman Oaks chapter of Business Network International(BNI). Dennis is an avid rose gardener and has served as a docent at the Huntington Library and Botanical Gardens. He is a member of the American Rose Society and the Royal Rose Society in the United Kingdom. Dennis is an entusiastic baseball fan and a lifelong philatelist (stamp collector), he maintains a vast worldwide collection as well as an extensive Great Britain and British Colonies collection. He has been a member of the American Philatelic Society for over 25 years