Podcasts about Wealth management

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  • 1,119PODCASTS
  • 4,319EPISODES
  • 31mAVG DURATION
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  • Nov 24, 2021LATEST

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Best podcasts about Wealth management

Show all podcasts related to wealth management

Latest podcast episodes about Wealth management

The Human Side of Money
39: A Masterclass In Excelling At The Human Side Of Advice with Carl Richards

The Human Side of Money

Play Episode Listen Later Nov 24, 2021 78:25


Carl Richards has a mantra for financial advisors that he says changes everything once you can fully internalize it: "Financial advisors are guides in a changing landscape. Not the defenders of an outdated map." It's no longer enough for advisors to build a detailed financial plan or construct a portfolio. It's about building trust and connection with clients, unearthing their values and emotions around money, and changing their behavior for the better. It's about the human side of advice. And, if you're looking to excel at the human side of advice, there is no one better than Carl Richards. We discuss: The two main things he's learned over the years that he would go back and tell himself when he was an advisor Why understanding a client's purpose is at the foundation of the work advisors do for their client's The difference between purpose, values, and goals and what it looks like in the planning process How to effectively help clients develop and prioritize goals Using a "Statement of Financial Purpose" in the planning process The best approach to handling an objection I've ever heard   *For more resources discussed in this episode, check out www.wiredplanning.com/episode39. *For more resources and insights on mastering the human side of money (including our popular "Wisdom Round-Up" email), go to www.wiredplanning.com.

Wealthways
57 | Charlotte Allen

Wealthways

Play Episode Listen Later Nov 24, 2021 31:55


Rebel Success for Leaders founder & CEO Charlotte Allen joins the show to chat about entrepreneurship being the ultimate learning experience and delineating the line separating collaboration & competition. ----more---- Brought to you by the Wealth Management team at State Bank of Cross Plains. For more information, please visit sbcp.bank.

Wallet Wisdom
Episode 19: Episode 19: Maximizing Your Charitable Giving

Wallet Wisdom

Play Episode Listen Later Nov 23, 2021 32:59


Tis' the season for holiday generosity! Join Hosts Brett & Lo, as they learn new ways to maximize Charitable Donations from LMCU's Senior VP of Wealth Management, James Blakeslee.

Business RadioX ® Network
PHELAN & MYERS 2 FOR 20: Estate Planning

Business RadioX ® Network

Play Episode Listen Later Nov 23, 2021


No matter where you are in life - just starting out, in your peak earning years, nearing retirement, or contemplating your legacy - Phelan and Myers Wealth Management Group of Janney Montgomery Scott is here for you. When you work with them, it's about going beyond investing. It's about connecting your life and your finances. They take […]

Gwinnett Business Radio
PHELAN & MYERS 2 FOR 20: Estate Planning

Gwinnett Business Radio

Play Episode Listen Later Nov 23, 2021


No matter where you are in life - just starting out, in your peak earning years, nearing retirement, or contemplating your legacy - Phelan and Myers Wealth Management Group of Janney Montgomery Scott is here for you. When you work with them, it's about going beyond investing. It's about connecting your life and your finances. They take […] The post PHELAN & MYERS 2 FOR 20: Estate Planning appeared first on Business RadioX ®.

Awaken Your Business
158: How to heal money wounds (for spiritual entrepreneurs)

Awaken Your Business

Play Episode Listen Later Nov 22, 2021 54:05


As spiritual entrepreneurs, there are a few patterns that emerge the most. One of them is our relationship to money. While you follow your heart's calling and give your gifts to the world you may be thinking‘But how do I make money doing that?'‘What if no one listens?'‘What should I be charging?'If at some level you have also felt resistance when it comes to charging money or doubt if you will even make any, you have probably felt your spirit being drawn in by it.But what if these patterns of fear were your soul's guidance to start taking your energy and life force back?Well, what you are about to tune into a bonus coaching session I did for the serving circle members after the weekly collaboration call.What you are going to learn:How to overcome the fear of going brokeHow to take your leap for your highest expansionHow to uncover and shift your money blocks restricting abundanceYes, it's here and in the Serving Circle where you help elevate consciousness through spiritual business success. So, if you are a spiritual entrepreneur and want to collaborate with your soul tribe, I'll see you in there:https://www.facebook.com/groups/theservingcircleInsta: https://www.instagram.com/tysoncoaching/Facebook Profile: https://www.facebook.com/tyson.sharpe.37/

Wharton FinTech Podcast
Aaron Schumm, Founder & CEO of Vestwell - Powering Modern Day Workplace Savings

Wharton FinTech Podcast

Play Episode Listen Later Nov 22, 2021 36:01


Anirudh Singh sits down with Aaron Schumm, Founder and CEO of Vestwell. In this episode they discuss: - Aaron's first company, FolioDynamix - Launching Vestwell 6 days after selling FolioDynamix - The small business retirement landscape in the U.S. And much more! Aaron Schumm: Aaron is the founder & CEO of Vestwell, the engine powering modern-day workplace savings and investing programs, such as 401(k) and 403(b) plans. Our cloud-based digital recordkeeping platform provides the underlying architecture to support financial services and payroll partners, who are rapidly working to serve the 30M small businesses in the country. Prior to founding Vestwell, Aaron co-founded FolioDynamix, a wealth management fintech platform. At FolioDynamix, Aaron oversaw the strategy, revenue, marketing, customers and product development. FolioDynamix was acquired by Envestnet (NYSE: ENV). Outside of Vestwell, Aaron has served on the board of directors and the advisory board for several fintech companies, including Quovo (acquired by Plaid), Vestorly, OfColor, and Chalice Financial Network. Aaron holds a B.S. degree in finance from the University of Illinois, Urbana-Champaign and an M.B.A. degree from Duke University's Fuqua School of Business. He was included in InvestmentNews' 40 Under 40 and WealthManagement.com's "10 to Watch." For more FinTech insights, follow us below: Medium: medium.com/wharton-fintech LinkedIn: www.linkedin.com/company/wharton-fintech-club/ WFT Twitter: twitter.com/whartonfintech Anirudh's Twitter: twitter.com/avsingh_24

Money Sense
Kersten Wealth Management Group's: Money Sense-11-20-2021

Money Sense

Play Episode Listen Later Nov 22, 2021 48:07


Gwinnett Business Radio
PHELAN & MYERS 2 FOR 20: Year-End Tax Planning

Gwinnett Business Radio

Play Episode Listen Later Nov 19, 2021


No matter where you are in life - just starting out, in your peak earning years, nearing retirement, or contemplating your legacy - Phelan and Myers Wealth Management Group of Janney Montgomery Scott is here for you. When you work with them, it's about going beyond investing. It's about connecting your life and your finances. They take […] The post PHELAN & MYERS 2 FOR 20: Year-End Tax Planning appeared first on Business RadioX ®.

Influential Entrepreneurs with Mike Saunders, MBA
Interview with Tom Stefaniak Certified Financial Planner (CFP®) President of Pinnacle Wealth Management Discussing Putting Your Financial

Influential Entrepreneurs with Mike Saunders, MBA

Play Episode Listen Later Nov 18, 2021 22:37


Tom built Pinnacle Wealth to be a firm that values relationships above all. Tom loves meeting with clients and building a relationship that goes far beyond finances. This allows him to help you aim toward your personal and financial goals. He helps you address the needs of your specific situation to devise your personalized plan of action.Tom started his career as a Financial Planner with IDS/American Express in 1987. He quickly rose to the level of District Manager and received numerous awards for client service. In 1998 he became an independent Financial Advisor when he opened Pinnacle Wealth Management with Joanne Gipple. After more than 30 years in the business, Tom can still confidently say that he loves his job, and he found his true calling.Tom graduated from the University of Wisconsin-Milwaukee with a double major in Real Estate and Finance in the School of Business Administration. He earned his CFP® designation in 1990. He is a member of the Financial Planning Association. A lifelong learner, he has continued his education through industry classes and leadership programs.Tom is married and has three adult children. He enjoys helping his children with their pursuits as they are transitioning to adulthood. Whenever he has a spare moment Tom can be found on the golf course. He also enjoys travel when his schedule allows it. One of his favorite destinations is Wisconsin, his home state and home to most of his 9 brothers and sisters and many other family members.Fun Fact: Tom is featured as a character in a Star Trek novel, Old Wounds. If you are a fan, check it out sometime.Learn More: https://www.pinnaclewm.com/ Investment Advisory Services offered through Pinnacle Wealth Management, a Registered Investment Advisor.Pinnacle Wealth Management is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment related information, publications, and links. Accordingly, the publication of Pinnacle Wealth Management's web site on the Internet should not be construed by any consumer and/or prospective client as Pinnacle Wealth Management's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Pinnacle Wealth Management with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Pinnacle Wealth Management, please contact the SEC, or the state securities regulators for those states in which Pinnacle Wealth Management maintains a filing. A copy of Pinnacle Wealth Management's current written disclosure statement discussing Pinnacle Wealth Management's business operations, service, and fees is available from Pinnacle Wealth Management upon written request. Pinnacle Wealth Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Pinnacle Wealth Management's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordinglyInfluential Influencers with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-tom-stefaniak-certified-financial-planner-cfp-president-of-pinnacle-wealth-management-discussing-putting-your-financial-house-in-order

Business Innovators Radio
Interview with Tom Stefaniak Certified Financial Planner (CFP®) President of Pinnacle Wealth Management Discussing Putting Your Financial

Business Innovators Radio

Play Episode Listen Later Nov 18, 2021 22:37


Tom built Pinnacle Wealth to be a firm that values relationships above all. Tom loves meeting with clients and building a relationship that goes far beyond finances. This allows him to help you aim toward your personal and financial goals. He helps you address the needs of your specific situation to devise your personalized plan of action.Tom started his career as a Financial Planner with IDS/American Express in 1987. He quickly rose to the level of District Manager and received numerous awards for client service. In 1998 he became an independent Financial Advisor when he opened Pinnacle Wealth Management with Joanne Gipple. After more than 30 years in the business, Tom can still confidently say that he loves his job, and he found his true calling.Tom graduated from the University of Wisconsin-Milwaukee with a double major in Real Estate and Finance in the School of Business Administration. He earned his CFP® designation in 1990. He is a member of the Financial Planning Association. A lifelong learner, he has continued his education through industry classes and leadership programs.Tom is married and has three adult children. He enjoys helping his children with their pursuits as they are transitioning to adulthood. Whenever he has a spare moment Tom can be found on the golf course. He also enjoys travel when his schedule allows it. One of his favorite destinations is Wisconsin, his home state and home to most of his 9 brothers and sisters and many other family members.Fun Fact: Tom is featured as a character in a Star Trek novel, Old Wounds. If you are a fan, check it out sometime.Learn More: https://www.pinnaclewm.com/ Investment Advisory Services offered through Pinnacle Wealth Management, a Registered Investment Advisor.Pinnacle Wealth Management is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment related information, publications, and links. Accordingly, the publication of Pinnacle Wealth Management's web site on the Internet should not be construed by any consumer and/or prospective client as Pinnacle Wealth Management's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Pinnacle Wealth Management with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Pinnacle Wealth Management, please contact the SEC, or the state securities regulators for those states in which Pinnacle Wealth Management maintains a filing. A copy of Pinnacle Wealth Management's current written disclosure statement discussing Pinnacle Wealth Management's business operations, service, and fees is available from Pinnacle Wealth Management upon written request. Pinnacle Wealth Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Pinnacle Wealth Management's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordinglyInfluential Influencers with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-tom-stefaniak-certified-financial-planner-cfp-president-of-pinnacle-wealth-management-discussing-putting-your-financial-house-in-order

Wealthways
56 | Ashley Quinto Powell

Wealthways

Play Episode Listen Later Nov 17, 2021 28:23


Consultant, speaker, author, and founder of myVA Rocks, Ashley Quinto Powell stops by the show to talk to Dawn about the benefits of hiring a virtual assistant, the importance of uplifting other women, how she juggles her myriad projects, and more. ----more---- Brought to you by the Wealth Management team at State Bank of Cross Plains. For more information, please visit sbcp.bank.

On Purpose, With Tyrone Ross
The Future of Wealth Management Is Non-Custodial

On Purpose, With Tyrone Ross

Play Episode Listen Later Nov 16, 2021 24:20


“The future of wealth management is a non-custodial plus discretion relationship.”Host of “On Purpose” Tyrone Ross recaps his lessons learned from spending the past few weeks travelling and speaking with bank executives, RIAs, broker dealers and financial advisers across the country.Those who are already sold on crypto will resonate with Ross' sentiment that many of the largest institutions are reluctant to embrace crypto in any capacity. Regardless of their reluctance, clients will search for and invest in products with asymmetric returns. Clients will have a portfolio of non-fungible tokens (NFTs), they will be staking at Coinbase and they will have a MetaMask wallet.Even if the clients are self-custodying crypto assets such as these, they will still search for advice on what to do with their wealth. Recognizing this future and preparing for it is the best an adviser can do for themselves and their firm.This episode has been produced, announced and edited by Michele Musso with additional production support from Eleanor Pahl. Our theme song is Walk with Swag. See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

CRM Audio
Moving on from being a Dynamics CRM (365) Developer

CRM Audio

Play Episode Listen Later Nov 16, 2021 33:22


Details In this CRM Audio podcast episode Elaiza Benitez talks to Luke Hopton based in Jersey, United Kingdom, and Matt Ngan based in Toronto, Canada. Elaiza, Luke and Matt previously worked for the same Microsoft Partner in New Zealand where Luke and Matt were CRM Developers. Since then, both of them have moved away from being Dynamics CRM developers and Elaiza talks to them about their decision and what they're doing now in their current roles. Elaiza also quizzes them to see how much they remember about Microsoft Dynamics CRM 4 as a developer. Note: Elaiza refers to Dynamics 365 as Dynamics CRM in this podcast episode to avoid confusing Luke and Matt. When Luke and Matt were developers, it was called Dynamics CRM at the time. What we talked about Background to how Luke, Matt and I know each other.   Matt and Luke introduce themselves.   Matt worked for a product company in London that specialized in Wealth Management where Dynamics CRM was the platform and he now lives and works in Toronto for an HR software company that has nothing to do with Dynamics CRM.   Luke moved to a Senior .NET developer role before leaving New Zealand and then moved to London in 2015 where he joined two other product companies. Eventually he moved home to Jersey and is now a Solution Architect where he works with RegTech (Regulatory Technology) solutions – due diligence and KYC (Know your Customer) for Wealth Management companies.   The decisions Luke and Matt made to move away from being a Dynamics CRM Developer.   That last Dynamics CRM version Luke and Matt worked with was Dynamics CRM 2013, possibly Dynamics CRM 2015 for Matt.   Matt talks about the frameworks and tech he is using now.   Both Luke and Matt talk about applying what they've learnt in their time as Dynamics CRM Developers in their roles now.   What they use for source control now.   Matt talks about the differences in Application Lifecycle Management for product development compared to consultancy projects. What Luke and Matt use for source control these days.   Who would be in their search results when Googling for issues experienced in Dynamics CRM and tools used.     Who showed Matt the ropes in being a Dynamics CRM developer - Rex Wessels, Sophie Khun-Hammond, Maryse Botros, David Brown mentioned.   Elaiza quizzes Luke and Matt on their knowledge of being a Dynamics CRM Developer Question 1 – Matt Question 2 – Luke Question 3 – Matt Question 4 – Luke Question 5 – Luke Question 6 – Luke Question 7 – No one Question 8 – Matt What Luke and Matt miss about New Zealand.

Money Sense
Kersten Wealth Management Group's: Money Sense-11-13-2021

Money Sense

Play Episode Listen Later Nov 13, 2021 48:09


Influential Entrepreneurs with Mike Saunders, MBA
Interview with Goran Milic with Tesla Wealth Management Discussing Financial and Retirement Literacy Focused on Social Security

Influential Entrepreneurs with Mike Saunders, MBA

Play Episode Listen Later Nov 12, 2021 18:57


Goran Milic grew up in Serbia and moved to the US in his early twenties. Among many other roles, he's a dad, husband, financial planner, and chief retirement strategist at Tesla Wealth Management. For the last ten years, Goran has been helping people with their financial, retirement, and insurance planning. He's an actuary by trade, and actuaries are creators of all types of insurance, annuities, pension funds, and other financial products.Goran was always passionate about crunching numbers and explaining math to his non-math friends and family. Throughout his schooling, he has discovered his special gift in his ability to gather scattered information and bring it all together in an organized, well-researched, and actionable way. In addition, he loves to tackle complex financial topics and break them down for a layperson to understand.While working for a large national firm years ago, Goran realized that a vast amount of the advice given to clients was not aligned with their best interests. So he joined TWM with the conviction that while every client's situation is unique, there is an optimal solution that perfectly suits each client. It may take more effort and sometimes thinking outside the box, but there is no other way for their team at TWM.As far as Goran's education goes, he has a Bachelor's degree in Actuarial Science from Roosevelt University. He's also maintaining his Life and Health producer license and the CLTC designation, a certification for Long-Term Care insurance.When he doesn't work, Goran loves to spend time with his wife and their two children, enjoying nature and an outdoorsy lifestyle. Learn More: https://teslawm.com/Influential Influencers with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-goran-milic-with-tesla-wealth-management-discussing-financial-and-retirement-literacy-focused-on-social-security

Business Innovators Radio
Interview with Goran Milic with Tesla Wealth Management Discussing Financial and Retirement Literacy Focused on Social Security

Business Innovators Radio

Play Episode Listen Later Nov 12, 2021 18:57


Goran Milic grew up in Serbia and moved to the US in his early twenties. Among many other roles, he's a dad, husband, financial planner, and chief retirement strategist at Tesla Wealth Management. For the last ten years, Goran has been helping people with their financial, retirement, and insurance planning. He's an actuary by trade, and actuaries are creators of all types of insurance, annuities, pension funds, and other financial products.Goran was always passionate about crunching numbers and explaining math to his non-math friends and family. Throughout his schooling, he has discovered his special gift in his ability to gather scattered information and bring it all together in an organized, well-researched, and actionable way. In addition, he loves to tackle complex financial topics and break them down for a layperson to understand.While working for a large national firm years ago, Goran realized that a vast amount of the advice given to clients was not aligned with their best interests. So he joined TWM with the conviction that while every client's situation is unique, there is an optimal solution that perfectly suits each client. It may take more effort and sometimes thinking outside the box, but there is no other way for their team at TWM.As far as Goran's education goes, he has a Bachelor's degree in Actuarial Science from Roosevelt University. He's also maintaining his Life and Health producer license and the CLTC designation, a certification for Long-Term Care insurance.When he doesn't work, Goran loves to spend time with his wife and their two children, enjoying nature and an outdoorsy lifestyle. Learn More: https://teslawm.com/Influential Influencers with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-goran-milic-with-tesla-wealth-management-discussing-financial-and-retirement-literacy-focused-on-social-security

New Focus on Wealth with Chad Burton
Wage Inflation & Retirement Planning

New Focus on Wealth with Chad Burton

Play Episode Listen Later Nov 12, 2021 36:35


In this episode of A New Focus On Wealth, Chad addresses wage inflation and what to expect from inflation over the next decade.  Next, Chad talks about FICA, retirement income, and inheritance planning that will prevent your kids from paying more than they need to in taxes. Do you have enough saved in retirement? How much do you need to cover expenses until age 100? Listen now and find out. Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

New Focus on Wealth with Chad Burton
Stocks Vs. Real Estate. Which Is The Better Investment?

New Focus on Wealth with Chad Burton

Play Episode Listen Later Nov 11, 2021 36:42


In this episode of A New Focus On Wealth, Chad discusses whether stocks or real estate is the better investment. Is one truly better than the other or does it depend on your situation? Listen now for an in-depth answer that addresses taxes, cash flow, retirement, and all the variables that remain important to determining the best answer to this common question. Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

What's The H.Y.P.E?
Featuring Reggie Ford

What's The H.Y.P.E?

Play Episode Listen Later Nov 11, 2021 43:24


On this week's episode we have Vanderbilt University Alum, author and wealth manager Reggie Ford. On this episode we talk about what it was like for him growing up in Nashville, Tennessee and some of the challenges he faced early on. He spoke about how being able to play in Vanderbilt University stadium in little league planted the seed that he could possibly play for that team one day. He went on to share how he was able to attend a prestigious high school and all of the success the football team had during his time there. We also spoke about the lack of knowledge he had about the recruiting process and ultimately how he turned down opportunities to play for Ivy League schools to stay at home and attend Vanderbilt University. Finally we discussed his time at Vandy, why he decided to working in wealth management and how his personal battle with PTSD lead to writing his first book. There is so much valuable information shared in this episode that could have a lasting impact on all but especially athletes. Please share with someone you know that could benefit from this information. Please check out our previous episodes by clicking the link in our bio. As always, It's Help over hype.Please comment, like and follow us: @bleavpodcasts@whatsthehypepodcastGuest -Reggie Ford @reggiedfordHost - Jeff Pope - @jpope_ceo Host - Andre Hal Jr - @drehal29Book linkhttps://www.reggiedford.com/Linktreehttps://linktr.ee/WhatsthehypepodcastSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Experiencing Financial Contentment with Dominique Henderson, CFP® | Get Better Results in Your Life
CFFP #40 -Tools for Hiring the Best Talent In the Next 15 Years in Financial Planning Rianka R. Dorsainvil, CFP®

Experiencing Financial Contentment with Dominique Henderson, CFP® | Get Better Results in Your Life

Play Episode Listen Later Nov 10, 2021 38:29


Welcome to another episode of the Conversations for Financial Professionals podcast where we are shaping the next generation of financial advice.   Today we have Rianka Dorsainvil.     You are Co-Founder and Co-CEO of 2050 Wealth Partners which focuses on empowering entrepreneurs and first-generation wealth builders to own their money story and pursue their biggest dreams.    Through your work as a millennial CERTIFIED FINANCIAL PLANNER™, you bring a unique perspective not only on the current state of the financial service industry but on how to stay relevant in an ever-changing world.    You serve as a member of CNBC's Digital Financial Advisor Council and CFP Board's Diversity Advisory Group, is a Forbes Personal Finance Contributor, and has been recognized for her accomplishments and leadership within the industry by leading publications and organizations such as Investment News' inaugural 2017 Women to Watch Rising Star and Wealth Management's Ten to Watch in 2018. She has been published in PBS NewsHour, Forbes, USA Today, Black Enterprise, CNBC, Women's Health, and more.   As a financial planner and an advocate for diversity, equity, and inclusion, you believe that first-generation wealth-builders are a community that has been underserved by the financial planning profession for too long - and she's here to help change the tides. In this conversation, you'll hear:   - how to identify and understand the problem of hiring the best talent for the financial planning profession; - why the financial services as an industry is at a critical crossroads; - the ingredients necessary to have financial advice “change family trees”; - why and how wealth management firms can leverage their growth to help develop the next generation of financial professionals; - Rianka's thoughts on where the cultivation of the talent pipeline should begin; and  -a whole lot more!   Resources: Are you a current or aspiring financial professional?  Click here to join the Jumpstart community! Listen to previous podcast episodes, clicking here. To receive a newsletter digest of Jumpstart community happenings, click here.   Don't forget to subscribe to the show on iTunes to get automatic episode updates for our "Conversations for Financial Professionals!" by clicking here. Want to collaborate? Click here. If you enjoyed this episode, please share it with your friends by using the social media buttons you see at the bottom of the post.   And, finally, please take a minute to leave us an honest review and rating on iTunes. They really help us out when it comes to the ranking of the show and I make it a point to read every single one of the reviews we get.   Please leave a review right now, click here.   Thanks again for listening, reading, and watching!

Wealthways
55 | Carla Frank

Wealthways

Play Episode Listen Later Nov 10, 2021 28:30


Carla Frank, founder of Women in Motion (WIM) Run the World, is this week's guest, chatting with Dawn & Jane about the professional twists and turns that led her from the world of accounting to starting a business geared toward helping women find their passion through movement in nature. ----more---- Brought to you by the Wealth Management team at State Bank of Cross Plains. For more information, please visit sbcp.bank.

New Focus on Wealth with Chad Burton
Joining Me Now: Financial Planning With Your Significant Other

New Focus on Wealth with Chad Burton

Play Episode Listen Later Nov 9, 2021 27:52


In this episode of Joining Me Now, Chad and Rob discuss the importance of keeping your significant other up to speed on your finances. Quarterly meetings with your financial planner are a great way to make sure both parties are aware of what's going on and a checklist will help guide you through the chaos.  Next, Chad talks about 401k rollovers and inflation before transitioning into tax planning. Listen now! Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

Absolute Return Podcast
#184: Wealth Management with Todd Degelman and Chad Pruden of Wellington-Altus

Absolute Return Podcast

Play Episode Listen Later Nov 8, 2021 38:21


On today's podcast we welcome special guests Todd Degelman and Chad Pruden of Wellington-Altus Private Wealth where Todd is Founder, Senior Investment Advisor, and Vice-Chairman, and Chad is Senior Investment Advisor. Wellington-Altus is one of the fastest-growing wealth advisory companies in Canada.   On the show, Todd and Chad discuss: -Their career backgrounds and keys to success in wealth management -Their outlook for equity markets, bonds and inflation -Asset allocation and what is top of mind for high-net worth investors -What differentiates Wellington-Altus from the big banks -And more

Average Joe Finances
67. The Importance of Cash while Investing with Rob Schulz

Average Joe Finances

Play Episode Listen Later Nov 7, 2021 47:16


Join Mike Cavaggioni with Rob Schulz on the 67th episode of the Average Joe Finances Podcast to discuss the importance of cash while investing. Rob attended the University of Texas on a Navy ROTC scholarship where he received his BBA in accounting. While serving aboard ship as a Surface Warfare Officer, he found his calling counseling sailors on desperately needed personal finance and money management issues.In this episode, you'll learn:•       Determine if You're a Net Spender or Net Saver and Methods to Store Up Cash Reserves Either Way•       Keep Cash in your Pocket: Tips to Store Savings — Even as a Net Spender•       How often you should talk to your financial advisor•       Ways to Prepare your Finances for the Unexpected•       And much more!About Rob Schulz:Rob Schulz CFP® is the founder and president of Schulz Wealth, Ltd. Named on Investopedia's list of 100 Top Financial Advisors in 2019 and 2017, Rob is also a former instructor for the Certified Financial Planner™ certificate program at the University of Texas at Arlington and Texas Christian University. For more than 25 years, Rob has been committed to helping everyday people take control of their money and attain real-world financial success. Find Rob Schulz on: Website: https://schulzwealth.comTwitter: https://twitter.com/robschulztxLinkedIn: https://www.linkedin.com/in/robschulz/Facebook: https://www.facebook.com/groups/thoughtsonthingsfinancialAverage Joe Finances™:Our social media links can be found here: flow.page/avgjoefinances

Money Sense
Kersten Wealth Management Group's: Money Sense-11-6-2021

Money Sense

Play Episode Listen Later Nov 6, 2021 47:59


New Focus on Wealth with Chad Burton
The Discussion of Real Estate Vs. Stocks & How Your Long-term Goals Fit Into The Puzzle

New Focus on Wealth with Chad Burton

Play Episode Listen Later Nov 5, 2021 36:52


On today's show, Chad discusses stocks vs. real estate. Which is a better option over the long term? What are the pros and cons of Real Estate? How can you win in real estate if stocks have better long-term price appreciation and less headache? Chad explains how to prepare financially to become a real estate investor. Tune in now to find out more! Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

On The Edge Podcast with Scott Groves
[Audio Quicktakes] What is AN ACCREDITED INVESTOR & Why Wealth Management Is So Important - On The Edge Podcast

On The Edge Podcast with Scott Groves

Play Episode Listen Later Nov 4, 2021 21:41


This is an abbreviated version of the full podcast, also available here! Why do ACCREDITED INVESTORS get access to investments that rest of us don't have access to? WHAT is an accredited investor? Why do ACCREDITED INVESTORS make greater returns with LESS RISK. We've got the guy to answer those questions!!! Frederick is an accomplished entrepreneur with more than 25 years of success spanning financial services and technology. He is responsible for founding Creative Capital Wealth Management Group, growing the firm to 15 states, and building a unique retainer-based wealth management program. He also president of Retainer-based Academy LLC, a coaching and intellectual property firm. Frederick is an innovative leader with a keen eye for unique solutions and vast knowledge in alternative wealth creation strategies. He received his Behavioral Financial AdvisorTM, BFATM for short, certification as of July 2018. As a seasoned board member Frederick has held board positions with Phoenixville Regional Chamber of Commerce, The Andy Talley Bone Marrow Foundation, Rotary, Kiwanis, LGBT Equality Alliance, the Phoenixville Senior Center, Cornerstone for Hope, Phoenixville Area Community Services, and the West Chester School of Business Advisory Council. He is married to Elizabeth, has nine-year-old twins James and Abigail. His hobbies include technology, cigars, eagles' football, and cars (mostly Tesla). Why do Ivy League Universities need to invest? The investments in colleges go toward their foundations and scholarship programs, and also the investments keep their accreditation status. There are only a few business that qualify to be in an upper tier of status, and many of these colleges sit in this category. WHAT is an ACCREDITED INVESTOR? For a person to be accredited, you need to have a certain amount of income or net worth to qualify. Once you qualify for accreditation, the world of investing really opens up to you. As Frederick explains, it's like being in the same restaurant but you get a different menu when it comes to investing. What is retainer based planning? What does your company do that makes it unique from other investment companies? Scott clarify's exactly what Fredericks company does and he puts it into simple terms. Learn about the advice they give to their clients, which help them invest their money properly while keeping their current investments in themselves active. Things like your business and 401K remain the same, but other income can be dispersed more effectively for passive investment. When you bring an accredited investor idea to a client, what exactly are you referring to? What are these investments and why haven't most people heard of them yet? Who can access them? How does inflation play a role in investing these days? It seems everything is at an all time high, so how do you decide what to invest in? It's hard to ‘buy low' these days so where do you find your in? Frederick provides some examples on how the rich are investing their money to remain in the upper tier of society, and how they can infinitely increase their holdings based on making the right investments. Frederick further explains the benefits of being a AAA accredited investor, and what you can and can't invest in UNLESS you're in this group. Frederick explains the concept behind the (so far non-existent) “Debt Jubilee.” Frederick goes over some life stories that led him to the conclusion to always say Yes when provided with an opportunity. ------------ Quickly- I'm Scott Groves - Husband, Father, Loan Officer, Coach, Author, Podcaster, and Recent Blue Belt in Brazilian Jiu-Jitsu. This podcast is paid for and brought to you by.... by me, Scott Groves :-)

New Focus on Wealth with Chad Burton
Biden's Recent Proposal May Be Changing The Way We Closeout 2021

New Focus on Wealth with Chad Burton

Play Episode Listen Later Nov 4, 2021 36:23


The mad rush for year-end gifting and estate planning for the wealthy may all be for not.  Biden's recent proposal eliminated the attack on certain trusts and gifting strategies as well as the proposed increase in capital gains tax. Chad also gives an update on impressive earnings results for Q3, discusses cryptocurrency scams, and gives a quick answer to “How Much Do I Need to Retire?” Tune in now to find out more! Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

David Jackson Productions
Mind Your Business - Jonathan Allen & Cara White - Allen Wealth Management

David Jackson Productions

Play Episode Listen Later Nov 4, 2021 31:47


The 2021 calendar is winding down and now is a perfect time to review your individual and business finances ahead of the end of the tax year.On this episode of Mind Your Business, we visit with Jonathan Allen (Allen Wealth Management) and Cara White (Allen CPA) to discuss current national economic and tax trends and how they are impacting businesses and individuals in the High Country. We discuss the potential for action on interest rate adjustments and receive some helpful details about the child tax credit, and indicators you should pay attention to regarding both of these popular topics.We also discuss the recent release of the Boone Area Chamber of Commerce Q3 Economic Indicators report and assess our area's overall economic health heading into the close of 2021.Mind Your Business is produced weekly thanks to a partnership between High Country Radio and Appalachian Commercial Real Estate.Support the show (https://www.boonechamber.com/membership-information)

Parenting Impossible – The Special Needs Survival Podcast
Episode 127: A Family Approach to Special Needs Financial Planning with James Grace

Parenting Impossible – The Special Needs Survival Podcast

Play Episode Listen Later Nov 4, 2021 61:13


The end of a year tends to have people thinking about what they should do to plan for the new year and what changes they may need or want to make.  While fitness and health goals are generally always on that list, so is financial planning for the future.  Financial planning in general can seem to be a daunting task but it becomes a bit more challenging for special needs families and planning for your disabled child's future.     On this week's podcast episode, Annette speaks with James “Jim” Grace, the Director of Wealth Management with Silver Pine Capital.  Jim, who has been a financial advisor for over 12 years, has taken on a more “person centered” approach to financial planning and working with special needs families with complex issues.  Jim also has a podcast called The Financially Mindful Podcast, which offers insight into various aspects of financial planning.   The financial planning approach Jim takes with his clients is not the traditional sit with an advisor, pay an upfront fee, send over your financial information, and then wait a short time for your financial plan to be created and the report sent to you.  Jim feels this approach does not allow for changes and updates that may need to happen over the next few months/years as your financial situation and goals change.     A More Personalized Family Approach   At Silver Pine Capital, their approach is to sit with a client to determine what they are looking to accomplish, determine how much time they will need to spend with the client over the next few months, generate the fee and then divide that by 12 and bill monthly.  This allows them to start with the client's current financial position, meet on a regular basis at least once a month and build their financial plan over time. Sometimes this is referred to as “financial coaching,” where someone spends more time with you to assist you in your financial plan.    With this more personalized approach, they are able to develop a relationship with a special needs family, find out what is important to them, assist them in getting organized and then offering recommendations as they move along according to where the family is currently and what they hope to get to. They become part of your family's “team” for financial planning.   3 Steps to Begin Your Financial Planning   Jim says there are roughly 3 steps you can work on to get your financial planning started.  First, take a breath then get yourself organized.  Pull the information to all your accounts and put them into one place either in some version of Fintech software, a spreadsheet or even just a paper note pad.  This allows you to take inventory of all your accounts and you can then work on tracking your spending and working out a budget, as well as cleaning up any accounts that are no longer needed or wanted.   The next step is to sit down and decide what is important to you, what are you looking to accomplish with your financial plan.  Be specific with your goals.  This step can be challenging for some as talking about money and the future can be very stressful, especially so if you have a special needs child you are planning for.   Once you have all your goals and what you would like to accomplish figured out, you then need to prioritize these goals.  Unfortunately, not many families will have enough money to be able to plan for all their goals.  You will need to prioritize what is the most important down to the least important. Once you have this accomplished, you are then ready to begin to develop your financial plan.    Reach Out to James “Jim” Grace If you like to reach out to James “Jim” Grace, or would like more information, you can reach him through Silver Pine Capital as well as on Linked In. For information on other topics, please also check out Special Needs Companies. For legal advice, inspiration, and other resources, visit our blog here. Similarly, you can always listen to previous podcast episodes (and be sure to leave us a review), or download our free eBook here. We are always looking for podcast guests as well so please let us know if you or someone you know, has a special needs or disability topic you would like to speak about - Contact Us! 

Wealthways
54 | Lisa Robb

Wealthways

Play Episode Listen Later Nov 3, 2021 33:08


Lisa Robb, founder of Raining Glitter Coaching, joins the show to discuss how she came to life-coaching and why she loves it, how she helps people "step into their authenticity," the distinction between therapy and coaching, the genesis of the 12 Minute Turtles, and more. ----more---- Brought to you by the Wealth Management team at State Bank of Cross Plains. For more information, please visit sbcp.bank.

Money Sense
Kersten Wealth Management Group's: Money Sense-10-30-2021

Money Sense

Play Episode Listen Later Nov 1, 2021 47:51


New Focus on Wealth with Chad Burton
Tax Laws & Mortgages In Retirement

New Focus on Wealth with Chad Burton

Play Episode Listen Later Oct 29, 2021 36:25


In this episode of New Focus on Wealth, Chad dives into tax and property laws, the pros and cons of having a mortgage. Next, Chad answers a question from a listener about annuities. To close, Chad chad shares his stance on the new Bitcoin ETF. Tune in now to find out more! Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

Business Innovators Radio
Interview with Tom Stefaniak Certified Financial Planner (CFP®) President of Pinnacle Wealth Management Discussing Managing Life's Transit

Business Innovators Radio

Play Episode Listen Later Oct 28, 2021 25:05


Tom built Pinnacle Wealth to be a firm that values relationships above all. Tom loves meeting with clients and building a relationship that goes far beyond finances. This allows him to help you aim toward your personal and financial goals. He helps you address the needs of your specific situation to devise your personalized plan of action.Tom started his career as a Financial Planner with IDS/American Express in 1987. He quickly rose to the level of District Manager and received numerous awards for client service. In 1998 he became an independent Financial Advisor when he opened Pinnacle Wealth Management with Joanne Gipple. After more than 30 years in the business, Tom can still confidently say that he loves his job, and he found his true calling.Tom graduated from the University of Wisconsin-Milwaukee with a double major in Real Estate and Finance in the School of Business Administration. He earned his CFP® designation in 1990. He is a member of the Financial Planning Association. A lifelong learner, he has continued his education through industry classes and leadership programs.Tom is married and has three adult children. He enjoys helping his children with their pursuits as they are transitioning to adulthood. Whenever he has a spare moment Tom can be found on the golf course. He also enjoys travel when his schedule allows it. One of his favorite destinations is Wisconsin, his home state and home to most of his 9 brothers and sisters and many other family members.Fun Fact: Tom is featured as a character in a Star Trek novel, Old Wounds. If you are a fan, check it out sometime.Learn More: https://www.pinnaclewm.com/ Investment Advisory Services offered through Pinnacle Wealth Management, a Registered Investment Advisor.Pinnacle Wealth Management is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment related information, publications, and links. Accordingly, the publication of Pinnacle Wealth Management's web site on the Internet should not be construed by any consumer and/or prospective client as Pinnacle Wealth Management's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Pinnacle Wealth Management with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Pinnacle Wealth Management, please contact the SEC, or the state securities regulators for those states in which Pinnacle Wealth Management maintains a filing. A copy of Pinnacle Wealth Management's current written disclosure statement discussing Pinnacle Wealth Management's business operations, service, and fees is available from Pinnacle Wealth Management upon written request. Pinnacle Wealth Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Pinnacle Wealth Management's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordinglyInfluential Influencers with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-tom-stefaniak-certified-financial-planner-cfp-president-of-pinnacle-wealth-management-discussing-managing-lifes-transitions

Influential Entrepreneurs with Mike Saunders, MBA
Interview with Tom Stefaniak Certified Financial Planner (CFP®) President of Pinnacle Wealth Management Discussing Managing Life's Transit

Influential Entrepreneurs with Mike Saunders, MBA

Play Episode Listen Later Oct 28, 2021 25:05


Tom built Pinnacle Wealth to be a firm that values relationships above all. Tom loves meeting with clients and building a relationship that goes far beyond finances. This allows him to help you aim toward your personal and financial goals. He helps you address the needs of your specific situation to devise your personalized plan of action.Tom started his career as a Financial Planner with IDS/American Express in 1987. He quickly rose to the level of District Manager and received numerous awards for client service. In 1998 he became an independent Financial Advisor when he opened Pinnacle Wealth Management with Joanne Gipple. After more than 30 years in the business, Tom can still confidently say that he loves his job, and he found his true calling.Tom graduated from the University of Wisconsin-Milwaukee with a double major in Real Estate and Finance in the School of Business Administration. He earned his CFP® designation in 1990. He is a member of the Financial Planning Association. A lifelong learner, he has continued his education through industry classes and leadership programs.Tom is married and has three adult children. He enjoys helping his children with their pursuits as they are transitioning to adulthood. Whenever he has a spare moment Tom can be found on the golf course. He also enjoys travel when his schedule allows it. One of his favorite destinations is Wisconsin, his home state and home to most of his 9 brothers and sisters and many other family members.Fun Fact: Tom is featured as a character in a Star Trek novel, Old Wounds. If you are a fan, check it out sometime.Learn More: https://www.pinnaclewm.com/ Investment Advisory Services offered through Pinnacle Wealth Management, a Registered Investment Advisor.Pinnacle Wealth Management is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment related information, publications, and links. Accordingly, the publication of Pinnacle Wealth Management's web site on the Internet should not be construed by any consumer and/or prospective client as Pinnacle Wealth Management's solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet. Any subsequent, direct communication by Pinnacle Wealth Management with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. For information pertaining to the registration status of Pinnacle Wealth Management, please contact the SEC, or the state securities regulators for those states in which Pinnacle Wealth Management maintains a filing. A copy of Pinnacle Wealth Management's current written disclosure statement discussing Pinnacle Wealth Management's business operations, service, and fees is available from Pinnacle Wealth Management upon written request. Pinnacle Wealth Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Pinnacle Wealth Management's web site or incorporated herein, and takes no responsibility therefor. All such information is provided solely for convenience purposes only and all users thereof should be guided accordinglyInfluential Influencers with Mike Saundershttps://businessinnovatorsradio.com/influential-entrepreneurs-with-mike-saunders/Source: https://businessinnovatorsradio.com/interview-with-tom-stefaniak-certified-financial-planner-cfp-president-of-pinnacle-wealth-management-discussing-managing-lifes-transitions

Wicked Pissah Podcast
Episode 88 - Paula Harris; Adam Minsky

Wicked Pissah Podcast

Play Episode Listen Later Oct 28, 2021 56:03


On this week's episode, attorney Adam Minsky gives us an overview of the latest happenings around student loan cancellation, including eligibility and who benefits. We also hear from Paula Harris, financial advisor and author of Rise Up: A Widow's Journal. She shares with us her work with widows and how she helps them navigate their journey after loss.   Paula Harris: LinkedIn -  https://www.linkedin.com/company/wh-cornerstone-investments/ Twitter - https://twitter.com/WHCornerstone Facebook - https://www.facebook.com/WHCornerstone Instagram - https://www.instagram.com/whcornerstone/ Website - https://whcornerstone.com/   Adam Minsky: LinkedIn - https://www.linkedin.com/in/adam-s-minsky-6123ba22 Twitter - @AdamSMinsky Website - https://minsky-law.com/

On The Edge Podcast with Scott Groves
What is AN ACCREDITED INVESTOR & Why Wealth Management Is So Important - On The Edge Podcast

On The Edge Podcast with Scott Groves

Play Episode Listen Later Oct 28, 2021 67:11


Why do ACCREDITED INVESTORS get access to investments that rest of us don't have access to? WHAT is an accredited investor? Why do ACCREDITED INVESTORS make greater returns with LESS RISK. We've got the guy to answer those questions!!! Frederick is an accomplished entrepreneur with more than 25 years of success spanning financial services and technology. He is responsible for founding Creative Capital Wealth Management Group, growing the firm to 15 states, and building a unique retainer-based wealth management program. He also president of Retainer-based Academy LLC, a coaching and intellectual property firm. Frederick is an innovative leader with a keen eye for unique solutions and vast knowledge in alternative wealth creation strategies. He received his Behavioral Financial AdvisorTM, BFATM for short, certification as of July 2018. As a seasoned board member Frederick has held board positions with Phoenixville Regional Chamber of Commerce, The Andy Talley Bone Marrow Foundation, Rotary, Kiwanis, LGBT Equality Alliance, the Phoenixville Senior Center, Cornerstone for Hope, Phoenixville Area Community Services, and the West Chester School of Business Advisory Council. He is married to Elizabeth, has nine-year-old twins James and Abigail. His hobbies include technology, cigars, eagles' football, and cars (mostly Tesla). 3:00 - Why do Ivy League Universities need to invest? The investments in colleges go toward their foundations and scholarship programs, and also the investments keep their accreditation status. There are only a few business that qualify to be in an upper tier of status, and many of these colleges sit in this category. 5:00 - WHAT is an ACCREDITED INVESTOR? For a person to be accredited, you need to have a certain amount of income or net worth to qualify. Once you qualify for accreditation, the world of investing really opens up to you. As Frederick explains, it's like being in the same restaurant but you get a different menu when it comes to investing. 12:00 - What is retainer based planning? What does your company do that makes it unique from other investment companies? 17:00 - Scott clarify's exactly what Fredericks company does and he puts it into simple terms. Learn about the advice they give to their clients, which help them invest their money properly while keeping their current investments in themselves active. Things like your business and 401K remain the same, but other income can be dispersed more effectively for passive investment. 25:00 - When you bring an accredited investor idea to a client, what exactly are you referring to? What are these investments and why haven't most people heard of them yet? Who can access them? 46:45 - How does inflation play a role in investing these days? It seems everything is at an all time high, so how do you decide what to invest in? It's hard to ‘buy low' these days so where do you find your in? Frederick provides some examples on how the rich are investing their money to remain in the upper tier of society, and how they can infinitely increase their holdings based on making the right investments. 46:45 - Frederick further explains the benefits of being a AAA accredited investor, and what you can and can't invest in UNLESS you're in this group. 50:00 - Frederick explains the concept behind the (so far non-existent) “Debt Jubilee.” 1:00:00 - Frederick goes over some life stories that led him to the conclusion to always say Yes when provided with an opportunity. ------------ Quickly- I'm Scott Groves - Husband, Father, Loan Officer, Coach, Author, Podcaster, and Recent Blue Belt in Brazilian Jiu-Jitsu. This podcast is paid for and brought to you by.... by me, Scott Groves :-)

New Focus on Wealth with Chad Burton
Are We At The End Of A Bull Market?

New Focus on Wealth with Chad Burton

Play Episode Listen Later Oct 28, 2021 36:41


In this episode, Chad compares similarities of bull market tops, discusses interest rates and inflation. He then answers an email on how to get started investing. Tune in now to find out more! Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

New Focus on Wealth with Chad Burton
New Focus Chad Burton_Ep1226

New Focus on Wealth with Chad Burton

Play Episode Listen Later Oct 27, 2021 36:41


In this episode, Chad compares similarities of bull market tops, discusses interest rates and inflation. He also answers an email on how to get started investing. Tune in now to find out more! Email your money question to chad@chadburton.com.  Call 1-888-762-2423 for Wealth Management and Financial Planning services or visit www.ChadBurton.com

We Chat Divorce Podcast
5 Critical Considerations When Dividing Executive Compensation In Divorce with Marianna Goldenberg, CDFA®

We Chat Divorce Podcast

Play Episode Listen Later Oct 27, 2021 46:53


On the newest episode of We Chat Divorce we're speaking with Marianna Goldenberg, the Founder and CEO of Curo Wealth Management in Langhorne, PA. Marianna is a Certified Divorce Financial Analyst (CDFA®). Marianna was just eighteen years old when she left behind the oppression and dangers of living in the Soviet Union, with a mere fifty dollars in her hand. Seeking a better life and a safe place to rebuild where opportunity was the reward for integrity and ambition, she and her immediate family left everything and everyone they knew in Russia for a fresh start in Pennsylvania. Hard work, big dreams, and an undeniable determination to succeed led Marianna to UPenn's Wharton School of Business. At Wharton she earned degrees in mathematics and finance, thus kick-starting the financial career she is so passionate about today.   Learn More >> https://www.curowm.com/ Connect with Marianna Goldenberg on LinkedIn >> https://www.linkedin.com/in/mariannagoldenberg   The We Chat Divorce podcast (hereinafter referred to as the “WCD”) represents the opinions of Shanahan, Chellew, and their guests to the show. WCD should not be considered professional or legal advice. The content here is for informational purposes only. Views and opinions expressed on WCD are our own and do not represent that of our places of work.  WCD should not be used in any legal capacity whatsoever.  Listeners should contact their attorney to obtain advice with respect to any particular legal matter. No listener should act or refrain from acting on the basis of information on WCD without first seeking legal advice from counsel in the relevant jurisdiction. No guarantee is given regarding the accuracy of any statements or opinions made on WCD.  Unless specifically stated otherwise, Shanahan and Chellew do not endorse, approve, recommend, or certify any information, product, process, service, or organization presented or mentioned on WCD, and information from this podcast should not be referenced in any way to imply such approval or endorsement. The third-party materials or content of any third-party site referenced on WCD do not necessarily reflect the opinions, standards or policies of Catherine Shanahan or Karen Chellew.    Karen Chellew:           Welcome to We Chat Divorce. Catherine and I are happy to welcome Marianna Goldenberg, CDFA®, to our podcast today. In this episode, we're going to discuss five critical considerations when dividing executive compensation in divorce. But, first, let me take a couple minutes to introduce Marianna. With thirty years of experience, Marianna is founder and CEO of Curo Wealth Management. Curo Wealth Management is a financial planning firm located in Bucks County, Pennsylvania. Curo in Latin means to take care, and this is exactly what they do for a select group of families, women, and busy executives. When it comes to her clients, Marianna takes care of everything relating to their finances. She loves teaching and empowering people to make important decisions for their financial future, helping to set them off on a better path than where they started. Marianna especially loves it when they bring their kids into the conversation so that they can learn, too, and she can help them save for their futures. Welcome, Marianna. Marianna Golden...:    Thank you, Karen. Thank you, Catherine. Delighted to be part of your podcast today. Catherine Shanah...:    Oh, we're so happy to have you. And boy, oh, boy, could we go on and on about this conversation because I don't think that there's a day that goes by that I don't get frustrated of what people overlook when it comes to executive compensation, so this will be a great conversation for people listening. So thanks for coming on board. Marianna Golden...:    Of course. Catherine Shanah...:    You are a wealth of knowledge and often a resource I go to when we're doing our financial portraits to get some more input from you because you really are an expert when it comes to executive compensation. Marianna Golden...:    Thank you. Catherine Shanah...:    It's my pleasure. Karen Chellew:           I completely agree. What would we do without Marianna some days? Catherine Shanah...:    The only thing I think was missing from your intro there, which was a nice long intro, Karen, thank you for that, was when you said, "She looks after families and teaching children." Where are the dogs? Marianna's always including her dog in something. Marianna Golden...:    Absolutely. Karen Chellew:           Lola. Marianna Golden...:    It's a big part of our firm. The board of stress management. Catherine Shanah...:    Oh, yeah. So let's jump into this, five things to consider. I know there's more than that, and we'll tackle five of them today. This is just such a topic that people are afraid of, their attorneys steer away from sometimes, and the individuals, the non-employees, in particular, and even the employees themselves sometimes, a little bit of it is over their heads on what's considered marital and what's not considered marital. So what's the first thing somebody should consider? Marianna Golden...:    That's a great question, Catherine. What's really important to understand is, these days, a lot of companies change the way they reward their employees. They used to have lifetime pensions or cash bonuses, but the employers really tried to tie the success of the company to the compensation that they leave to their employees. Part of that is something that's called long-term incentives or executive compensation, and it's a really involved and very important concept. A lot of times, even the employees themselves don't understand how it works. Then you put divorce on top of that, and you have parties that are not privy to that, and it becomes a very complex issue that we always come across during the divorce and distribution of assets.                                     There are various kinds of long-term care incentive or executive compensation, and the most common ones are restricted stock units, performance stock units, stock options, which are then divided into qualified and non-qualified, and restricted stock units or RSUs for short. Those are the kinds of executive compensation that we normally see. Catherine Shanah...:    And how do you know if your spouse has that? Marianna Golden...:    That's a great question. A lot of times, it's really overlooked because, as part of discovery, attorneys usually ask for tax returns or other documents that don't include this particular type of compensation. Really, if someone works for especially publicly-traded companies and they are of a senior management position, chances are a part of their compensation is executive comp or LTI. The best way to determine if someone has one is obviously to ask, but not everybody is going to be forthcoming in sharing that information. The best way I've found to understand if someone has this type of compensation is ask for a few documents. The first one is a total compensation package, and it's really a printout that the employee gets every year that shows everything that they receive as part of their overall compensation.                                     The second one is to request their 1231 pay stub, and the reason I say 1231 is because different companies have different timing of when their executive compensation gets paid. Some do it in the beginning of the year, some do it in the middle, some do it quarterly, so it's really important. If you request 1231 pay stub, it will show up on that pay stub. It will not show up on W-2. It will not show on tax returns. So those are usually the two main documents that are requested, and if you just have those, you won't know. The other thing that's important, too, is to Google. We all know you can get any answer in Google these days. So part of discovery should be Googling the compensation for the company, and chances are you'll find out a lot about the plans by doing that in conjunction with the rest that I just mentioned. Catherine Shanah...:    I want to just expand a little bit on that 1031, I mean, 1231 pay stub or pay statement or however you want to reference it. So often, Karen and I, when we're putting together the financial portraits for individuals, will hear, "No, I got this pay stub or I got that pay stub," and, "No, they said that we can look at a W-2 with it," or, "What's the big deal? I have this quarter's pay stub." It really is a big deal to get that last year-end statement. There's a lot of valuable information in there, you're saying. Marianna Golden...:    Yep. There is additional bonus that was paid that wasn't outlined before this new project or patent or some kind of additional recognition, all going to show up there. It's such a great source for discovering compensation that wasn't disclosed. Karen Chellew:           And I'm going just going to ask because this is really not my area of expertise, except I'm in the document collection piece a lot. You're identifying the existence of the executive compensation because I know a lot of the other party or the spouse with the executive compensation will say, "Well, it exists. Yes, I agree with that, and here is this spreadsheet defining what the it is." So, to your point, that compensation package is important as to how it plays out. I just wanted to make the differentiation there from the existence of it to the valuation of it that's two different perspectives. Marianna Golden...:    So true, Karen, and it's a really valid point because a lot of people do just what you said, spreadsheets, and this is not a valid document from the company. Something that's called a stock or options ledger, which is the official document from the company, will identify... Once we know there is an existence of the executive compensation, it will be an official record that will identify what particular compensation we're talking about, all the particulars, the dates that they were awarded, the dates that they become available to the employee, and the taxes that will be taken. So it's really a wealth of information as well. Catherine Shanah...:    Can you compare that to a screenshot of someone logging into their net benefits statement on the computer? Is that the actual ledger? Because, often, when we're... Karen, when you're collecting the documents, you'll see the screenshot or someone just logging into their net benefits on a certain date, and it'll show what's vested, what's not vested. Is that the same thing as asking for the company's ledger? Marianna Golden...:    Depends on the screen and depends on the company, but I would say this is a good beginning because in order to be really fully disclosed, right, say, the screenshot is terrific. The other thing that's important is something that's called the summary plan description or SPD because that's going to really spell out the ins and outs of the specific plan. Also, if there are any historical vesting or exercise that happened before, we need those exercise invoice to determine if the actual shares were sold or kept after the vesting. So it'll show us if that happened, when it happened, what was the cost basis of those shares and the taxes withheld. The historical part of that, during marriage, during separation, and then the future are all important parts for the overall picture. Karen Chellew:           I- Catherine Shanah...:    That's great. Karen Chellew:           Yeah. To your point there, too, Marianna, where you said that's a good beginning, I think sometimes it can stop there. As they're collecting documents, they get a couple pieces of paper and say, "Oh, this is a good beginning," whether it's the mediator or the attorney or whoever they're working with, and they assume that as they get closer to the agreement or to the trial or the master's conference or wherever they're going to be hashing out the logistics... No one has gone back to pull that ahead to get all the information. So I know when I'm working with clients, I'm saying, "Let's just get this out of the gate. It's easy to get. If you're getting one thing, you might as well get all of it," so that everybody has that fund of information from which to work. I think that's so important because, by the end of it, if you're not staying on top of it to collect all the relevant information, you've got a lot of information to collect and things get easily overlooked when you're trying to hash out a settlement. Marianna Golden...:    I totally agree. I really believe in saying, "You don't know what you don't know." So in order to have the good understanding, you have to have all the documents and make the conclusions. But then you have the facts. That's what you need. Karen Chellew:           Yeah. Catherine Shanah...:    Yes. And it's much easier to get those facts, to Karen's point, when you're in the process of collecting and you're not getting fatigued by the whole process and just over it. By the time that you really need the facts, you just don't want ... You want to be done with it. So I totally agree with that. What's the next tip, number two, for you to consider? Marianna Golden...:    So we just discussed how do you even know someone has that particular asset. The second one, once you determine if someone does have the executive compensation plan, you really have to understand what it is that you're looking at. As I mentioned, there is various types of executive compensation stock options, restricted stock units, performance stock units, long-term deferred comp. The important thing is to make sure you get a summary plan description for each document and really outline what it is that you're dealing with. If it's stock options, are they incentive stock options or they're non-qualified stock options? What are the terms? When do they vest? When you exercise, do you hold the stock or do you sell the stock?                                     Each award is very different. And I see it a lot in the property settlement agreements where they use the word vested or exercise for the wrong time of the executive plan, so you really want to make sure if it's options, they're vesting and they're exercised. If these are restricted stock units you're talking about, they cannot be exercised. They can only vest, and you have no control with when, where with the stock options, you do have control when you can exercise. So it's very different terminology that gets often mixed up between different awards. So that's- Catherine Shanah...:    Which seems like an easy thing, right? But now you've signed your agreement and you have to make sure that you're able to execute your agreement. So if the language is not properly written, how does that happen? So these are really good points, and I know if you're listening to this podcast right now, your head is probably doing a whole spin-around because you've mentioned a lot of big words like vesting and non-qualified and qualified. So it's really important, I'm hearing you say, to get that summary plan description so that you do not have to be a genius with this but you have to be able to have the document to actually outline what it is that you're doing with it. Marianna Golden...:    That's exactly right because I often see the document that spells something out about the plan, something like let's divide this particular asset in half or the employee can do this or that, and it's really important to know that if your legal document says that you can do something but the document that the plan is based on doesn't allow for it, you can't do anything. The divorce document becomes obsolete if the plan document doesn't allow for a certain transaction. If you don't have the summary plan description that you incorporate into your divorce document, it's not going to work. It's just useless piece of paper at that point, and guess what? You have to go back and negotiate and pay additional fees to get it resolved. Karen Chellew:           That's such a good point, Marianna. I know when we're compiling the MDS portrait for our clients and they have executive compensation, we'll put that in the table of recommendations and considerations. We'll say, "This is what you have, this is what you need, and this is who can help you," because a lot of attorneys frankly aren't financially trained. Of course, it takes a village. It takes a team when getting through any kind of difficult challenges. So even if your attorney may not understand how the executive compensation works or all the nuances of it or the complexities of it, you can take that to your financial planner, just like Marianna, who can help you know how that plays out so that your attorney has the information he or she needs then to get that agreement rock solid for you. Marianna Golden...:    It's so true. I often work with couples where they do have their financial planners but these particular people are not specialized in the executive compensation. So they might say this is what they suggest, but it's not going to be really useful if that's not their specialty. I would highly recommend to talk to your financial professionals and see do you work with executive compensation, do you understand how it works, do you have specific companies and plans that you are really familiar with because although it's a common asset, but each plan might has its own specifics and you need to know those specifics. Catherine Shanah...:    And let me piggyback off of what you were saying, Karen, because let's take a look at the downside to all of this, I guess. So let's just say I'm sitting here and I have this agreement and I'm listening to you guys speak and I say, "Okay, great, my language isn't saying what Karen just said." Now, Marianna, you're my financial planner and I bring you my agreement. Are you going to force me to go back to my ex-spouse to get this plan description because it was never requested before? How are you going to help me if I don't have that information? Marianna Golden...:    That's a really unknown question. It really is because I did have situations where someone comes with a document and says, "Can you help me execute the terms?" It's really hard when the other spouse isn't open or amicable. It's really hard to put it for something that's not spelled out. So it might be case where you need to back and have the agreement rewritten if the other side is not cooperating with the terms. I often recommend for people even to have a separate agreement which is not part of the overall MSA that states how to exactly go about and execute the terms of the executive compensation.                                     Also, a lot of times... And we might talk about it more. A lot of times, you have to understand that the executive compensation is only an asset when it becomes vested. So doing something beforehand, the employee even doesn't own that asset until it's vested, so it might take a couple years before it becomes a real asset. But then the considerations have to be made. Is it an asset subject to support, or is it an asset subject to equitable distribution? You can't double-dip, so that really has to be outlined as well in the property settlement agreement. So it really- Catherine Shanah...:    Oh, boy, do we need to do a... We need another podcast just on that. I know that if you're listening, you might write in and give us some questions on that, and I'm sure Marianna will come back because that's such an important realization to make when you're negotiating. A lot of people don't really want to sit back in that seat and say no. They want to double-dip and the other party doesn't. And to round out what we just said a second ago, if you're listening, whether you're the employee spouse or the non-employee spouse, if you do not want to communicate after the fact, which is in most cases, make sure you give the documentation that's needed now and make sure you ask for the documentation needed now so that you can ensure that the proper language is in your agreement or that you have another agreement, which I love that idea, so that you do not have to communicate on these issues moving forward. Great point there. Marianna Golden...:    Yep. Karen Chellew:           And I'm just going to give a little case, I guess, summary of something that we experienced not too long ago, where the couple had an agreement and, for whatever reason, it said the spouse was supposed to give the other spouse a copy of the W-2. So that didn't happen, but the pay stub what was needed, Marianna, to your point. Marianna Golden...:    Yes. Yes. Karen Chellew:           And they only got the W-2. But the agreement didn't call for the W-2. I mean, the agreement did not call for the pay stub. It only called for the W-2. So that became a real issue because, now, the spouse was without the proper documentation for her accountant to work with. Marianna Golden...:    Yep. And that's the thing. You need to know what to ask for because if you don't know what you don't know, the agreement will not be complete and filed properly. Catherine Shanah...:    I totally agree. Can you all hear me? I thought I lost my audio there. Karen Chellew:           Yes. Catherine Shanah...:    Okay, great. Marianna Golden...:    Nope. Catherine Shanah...:    Sorry for the little delay. Karen Chellew:           Can you hear me, by the way? Catherine Shanah...:    A little low. Karen Chellew:           Okay. Marianna Golden...:    Yep. Catherine Shanah...:    That's a little sidebar there if you're listening to us. It's technical day on Monday, right? So that brings us to your third consideration, which is really, really important, and, boy, I could go on forever about this one. A lot of times, you have an agreement written up or you're negotiating and your attorney or your mediator, they're leading that negotiation and they don't even realize if these awards are transferrable or even dividable. So how do you suggest somebody considers that? Marianna Golden...:    Great question. I do see it quite a bit, where attorneys state in the property settlement agreement that here is options or issues or what have you, and they should be divided 50/50, 60/40, whatever that might be. As I said before, if the summary plan description or plan document does not allow for transferability, which is probably 90% of the time, you can't divide this. It doesn't matter what your document says. So the first thing, what's really important, is to, a., define what you're trying to divide. Don't just say stock option, which is a generic term. Put the stock options for restricted stock units. Attach the ledger that we discussed, which clearly indicates the numbers, what's the grant number, what's the date of the grant, the vesting schedule, and so forth so you have the exhibit outlining that. Then that exhibit should, and we didn't talk about it yet, but that should state what part of those options or issues are marital property and what are not. Because the ledger might show and will show all of them, you have to identify specific lots that are subject to division.                                     Then, if you understand the plan document after you request it, you will know that it has to be done on the specific terms in order to be divided. So, as we mentioned, if they are non-transferrable, the only way you can give the non-employee spouse their portion is by non-employee spouse giving a written authorization to their ex-spouse of the action they wanted to complete. Is it an action of exercising their option after vesting? Do they want to keep the stock after they exercise? Do they want the employee spouse sell the stock and send them the proceeds and how much tax to withhold? So there is a lot of moving parts. They all make sense once you do it once, and they're a specific order. But that's the only way pretty much with few exceptions that transferability has to take place, and it has to be outlined very specifically in the document, which I, again, suggest to be a separate document aside from the property settlement agreement. Is that what you're asking? Catherine Shanah...:    Boy. Again, we're throwing out a lot of terms. I know if you're listening to this and your head's spinning again, that's a lot to consider, right? Marianna Golden...:    Yeah. Catherine Shanah...:    So, again, we're going to go back to getting the documentation so you can absorb it all a little bit at a time, not when you're forced to go to a settlement hearing and not when you're forced to negotiate. If you can digest this information beforehand, you'll make smart decisions. So, really, the transferability and the division, because there's other things to consider and some of that money was taxed already, so now you don't want to be told that it's going to be taxed again, right? So it depends on the reward that's given. There's so much to consider. Marianna Golden...:    Yeah, it's a very complex asset, if you will, but it could be used as a very rewarding asset if you know what you're doing because it's easily overlooked but it's also easily used improperly. Sometimes, it's by design. Sometimes, it's just because someone doesn't know or understand how it works. Even people that work for a company, they're busy executives. They keep running and building their corporate career, and they don't have, often, time to slow down and understand how it works. So they might not themselves understand what's involved, let alone someone who's not involved in the company. Catherine Shanah...:    That's a really good point because often everyone takes the position that my spouse is lying to me about this or they're hiding this from me, and maybe we can look at it from a different point of view saying maybe they just don't understand it themselves, right? So, again, it goes back to really requiring the documentation so that everybody's working uniformly on the same information. Also, yes, this is such a complex asset, but, remember, a lot of wealth today was built off of this asset, so don't be afraid of it. Don't walk away from it and choose your home or something else because it's an easier solution. Take the time to understand what's on the table here before you make that decision. Marianna Golden...:    And if you don't understand, work with professionals. That's really important because, just like you wouldn't want to make your healthcare decisions without going to different specialists and getting second opinions and really making an informative decision, it's the same thing in place here. If you don't know, ask. If you're not sure whoever you ask is giving you information that you can easily understand and process, go somewhere else. It's much easier and plus the fact that it's time-effective to do it all up-front than deal with it at the end.                                     One of the reasons I became a CDFA fifty years ago was because someone came to me with this specific situation, where they gave up their rights to the executive compensation because it was something difficult and something they couldn't quite understand and decided to take their home as an asset and gave up the executive compensation. Guess what happened? 2007, 2008, when real estate market collapsed, they had an asset that they thought worth a lot of money that was not liquid. They couldn't refinance because they didn't have the income to get approved for a refinancing, and they couldn't really sell it because the prices dropped significantly. So they didn't have choices, and you always want to be in control of your financial situation. The only way you can, if you look at all the choices and then you make a decision that's based on data and your understanding, not because somebody said so. Catherine Shanah...:    Exactly. If you ask a question once to your advisor... Marianna knows this for a fact. I must've asked 15 times the same question, just so I had complete understanding of something, and that's okay. That's really okay. Marianna Golden...:    Yep. Karen Chellew:           From the perspective of choosing your battles, this is one of them where you definitely want to lean in and make sure you have all of the documentation necessary so that you can make an informed decision. It is so important because it could be the difference of 100, 200, 300,000 dollars. It's to that level. I know a lot of people have a budget when it comes to divorce and they can only spend so much money, and I completely get that, and we respect that. But this is one of those assets that you definitely want to make sure you have the information and documentation you need to make that really good decision for yourself. Marianna Golden...:    So true. So true. And another important consideration for that, if you already listened to us and you've done all the work and you've made the right decision, it's the follow-up or follow-through that I often see people overlook because once the proper documents are executed, then somebody actually needs to follow up and put them into work. If you are working with the incentive compensation that is going to stand over a number of years and you already moved on with your life, it's hard to remember, yes, you have to go back every year, and not only do you have to make sure that you give your ex-spouse instructions how to execute the share that you were rewarded, because it's done on the annual basis, you also have to make sure that the taxes or tax consequences are addressed, and that's on the annual basis as well. So who wants to be attached by the hip every year, which is true, but, also, if there is lots of money, like Karen said, involved, perhaps that's something you want to do. Catherine Shanah...:    Well, that's one thing I love about you and your practice. You are diligent and almost sometimes probably a thorn in my side because you follow up so much on these kind of things, right? That's so important because time goes so quickly. Even myself personally, I can't believe I was divorced 11 years ago, I think it is, 11 years ago, or 10 year. You probably can't believe it, right? It goes so fast with the blink of an eye. So you can very easily let that vesting date or let that sales, if you had just sold the shares or whatever, and you're not following it... So if you don't have a good financial planner who's working on your team to keep you in line with this, then you can lose out. So, yes, I do think that's a great interview question when picking a financial planner. What is their expertise in this field, and how do you help me stay in line with this? Those are really good questions, and I know you really cover that quite well. Karen Chellew:           Very true. Great question. Catherine Shanah...:    So what is the timing and the tax consequences? I know that's another consideration and maybe the fifth consideration for handling these types of complex issues. Marianna Golden...:    And yet another great question. So it's really important to go back to the beginning where we said, in 90% of the cases, the executive compensation is owned by the employee and it's not transferrable. What that means, that that employee will have to go through the steps of exercising or selling the asset or vesting, if it's related to restricted stock units. Any of those transactions mean the next step is taxes because when you are awarded executive compensation, they're not taxed at the time of the reward. They're taxed at the time of vesting when it's related to RSUs or at times of exercise as related to stock options. When those two events happen, that's when that taxation occurs.                                     A lot of times, companies change their rules. They will do the mandatory tax withholdings on your behalf. When I say mandatory, that means federal tax, state tax, local tax, FICA, Medicare tax, Social Security tax. So all that is subtracted before the employee gets their net check. Some companies allow for the employee to increase their federal withholding if they already know they're in a higher tax bracket. Some companies are going to do it the same across the board. For example, I work with a lot of J&J employees. They're across the board. Federal withholdings is 22%. You can't increase it, you can't make it lower, so that's what it is. You have to remember that when you get that check, it's already net of taxes.                                     Now, if they attached a 22% on the exercise or vesting, it's not necessarily means that what you pay at the end of the year or in the beginning of the following year when you do your taxes. If you are in a lower effective tax bracket, that means you're going to get some of the tax back when you file your taxes. If you're in a higher effective tax bracket, you're going to have to pay more. That's where the confusion comes in. The employee got taxed. They give the net proceeds to their ex-spouse, but it's on them to pay the tax. So the reconciliation has to be made every year where both parties should have their tax return side by side and they should see, okay, well, if the employee's spouse had paid 22% federal withholding but their actual effective tax rate or how much they've paid on their tax return is only 20%, they owe the difference of extra tax up-front to their non-employee spouse.                                     I know it's really confusing, and I explain it to my clients every year, and I have to repeat it again. But it's so important because most people don't follow through with this. On the flip side, if the employee spouse paid 22% withholding but they are actually in the 35% effective tax rate because of other compensation or other income sources, the non-employee spouse now owes money to them. So some people, when they reconcile it, they sometimes split money in escrow so there is not much going back and forth. But it has to be all spelled out in the document because if it's not, who's going to enforce it? Catherine Shanah...:    Exactly. And, really, it's important to use your own independent accountant to reconcile this from your spouse's accountant because numbers could be interpreted differently. Marianna Golden...:    Yep. I've heard this phrase once and I really liked it. It made a lot of sense to me. Everybody's entitled their own opinion, but no one is entitled to their own facts. Facts are facts. So- Catherine Shanah...:    I like that. Marianna Golden...:    I really love it. So you're absolutely correct. Independent accountants because here's the fact, that's how you reconcile it. If you use the same accountant, in my opinion, it's a conflict of interest. Catherine Shanah...:    And, in my opinion, don't be afraid that you might potentially owe back your spouse money because if your spouse is having that much more income that it's pushing their bracket up, it might be a reason for a support modification. Marianna Golden...:    That is true. Catherine Shanah...:    So they may not even ask you for that. Marianna Golden...:    Very true. Karen Chellew:           Good point. Good point. Well, this concludes our episode on five critical considerations when dividing executive compensation in divorce. Thank you, Marianna, for a great conversation. Marianna Golden...:    Thank you, ladies, for having me. It's something that fascinates me. The more complex it is, the more excited I get. So I hope that I was able to communicate it properly so to give, at least, people a sense of if you don't understand, ask. You don't know what you don't know. So I hope I was able to convey that. Catherine Shanah...:    And before we sign off, please tell us how our listeners can reach you. Marianna Golden...:    Great question. So the best way to reach us is to go to our website. It's www.curowm.com, and Curo is spelt C-U-R-O. WM stands for Wealth Management. So it's www.curowm.com. Our email address, our phone number, all our social media platforms are there. So we'd be more than happy to hear from our listeners. Karen Chellew:           Thank you. Marianna Golden...:    Thank you. Karen Chellew:           Okay. That's good. Catherine Shanah...:    Okay. Karen Chellew:           All right. Catherine Shanah...:    Oh my gosh. It's so much information, and it's so... I know it's just so scary for a lot of people. Even when we had a case and the financial planner gave the recommendation that our joint client just negotiate away the LTIs and the RSUs just to keep the home, I was like, "What?" Sometimes, I feel like some financial planners do that because they know they're not going to invest that money for a long time so there's no income for them. They're not making any money off this advice or what have you, and that's so annoying to me. Marianna Golden...:    It is so true. A lot of times, too, because they think it's complex, they don't understand it. They just want to give it away so they don't have to deal with it. It's really interesting because I had a case where they were dividing everything properly. I looked at the documents. Everything was properly executed. Then I said to both parties, because they were amicable, I said, "Look, it's really important for you guys to communicate and coordinate the timing of the exercise because the less taxes the employee will pay, the more it's going to go to your boss' pocket. Then that number will be higher, so it's in your best interest to communicate." What I suggested to do is, instead of exercising a lot in one year, split it over a three-year period. Their reaction was so interesting because the employee spouse said to me, "How come my advisor never suggested that? That makes all the sense in the world." I go, "Well, chances are he doesn't understand how it works." Catherine Shanah...:    Right. Karen Chellew:           Yeah. Catherine Shanah...:    Right. Karen Chellew:           I don't think it's that unusual, and I think, from my experience, because I'm typically over in the attorney's office with the clients, they're saying, "Well, we got this piece of paper from the other side, and so that's what we're using." That piece of paper can be completely missing a lot of documentation. It's routine that Catherine finds money that would've been just lost had we not dug in and said, "You really need this information to clarify the documentation that supports this data because that often is the missing piece." Marianna Golden...:    Yep. Catherine Shanah...:    Well, how about the client that we actually went to you for some advice on as well, your input? That attorney tells client, "Just go ahead and sell your RSUs and pay off your marital debt," and he ends up selling the non-marital portion to pay off the marital debt. Marianna Golden...:    Yep. Catherine Shanah...:    Crazy. Yeah. Marianna Golden...:    So common. Karen Chellew:           So, Marianna, do you see often where an employee spouse will work with their employer to change their compensation during divorce so that it's not on the table? Sometimes, I get that question, well, whether it's support or ED. I know we can cover that in another podcast. But, often, the non-employee spouse will say, "Well, can they change their compensation package so that this doesn't exist anymore or so that they're compensated in a different way that they don't have to share this with me?" Marianna Golden...:    That's a good question. I feel that it would be really near impossible to do it for a publicly traded company. Obviously, if you're in a really high C-suite position, maybe. But, generally, you don't. This is how the company does this. They want to tie their performance with the compensation they give you, so they as well, your compensation. But I do believe that it can be easily structured if it's non-public, if it's a private company, and they still issue this form of communication. It's probably easily manipulated. Karen Chellew:           Especially if they have a close relationship with their employer. Yeah. Marianna Golden...:    Exactly. Catherine Shanah...:    Right. Right. Karen Chellew:           Yeah. Marianna Golden...:    Yeah. Karen Chellew:           Wow. Marianna Golden...:    And that's why we need history. We need to see the pattern. Because it was never done before, then we know something's up, and so historical data is important just as the future data. Karen Chellew:           Right. Okay. Catherine Shanah...:    There's definitely a great follow-up podcast to this. Marianna Golden...:    Yeah. Karen Chellew:           Yeah. It's very complex. But it's complex for all parties involved, all professionals involved. It really takes a village to get to the bottom of a lot of these calculations and valuations. Yeah. Marianna Golden...:    A lot of times, knowing that's my area of expertise, the more complex, the better. I thrive on that. I would get a call from an attorney or a client who's not even a client say, "Hey, I was told you understand this. Here's the document. Can you just make sure we didn't miss anything, or can you interpret this for me?" So it's just a piece of information that they wanted to make sure that they're properly handling. Karen Chellew:           Yeah. Yeah. And- Catherine Shanah...:    That's great. Keep at it. Karen Chellew:           Yeah. All right. Catherine Shanah...:    Yeah. It's so needed. You got to keep this as your thing because- Marianna Golden...:    It's getting more and more popular. Catherine Shanah...:    Yes. Karen Chellew:           Yeah. Oh, yeah. Marianna Golden...:    More and more companies, instead of doing cash compensation, do the performance type compensation. Catherine Shanah...:    Yeah, because it's lowering their turnover. It's so hard now to get employees and keep- Marianna Golden...:    … Catherine Shanah...:    Yeah. Yep. Marianna Golden...:    Yeah, because you give someone something today which they can't touch or feel, but if they stay for three or five years, all of a sudden, it becomes quite a sizable asset. Catherine Shanah...:    Yeah. Yeah. Yep. Karen Chellew:           Yeah. Catherine Shanah...:    All right. Well, we're going to have to chat again. Marianna Golden...:    Of course. Catherine Shanah...:    Thank you so much. This was great. Marianna Golden...:    Always a pleasure, ladies. Catherine Shanah...:    This is so good. You look fantastic. This is really good. Marianna Golden...:    Thank you. Thank you so much for having me.  

The Human Side of Money
37: The Irrational And Invisible Influences That Drive Human Behavior with Rory Sutherland

The Human Side of Money

Play Episode Listen Later Oct 27, 2021 126:43


When focused on growing your business, it's completely normal to focus on things that logically yield growth. Things like which networking events to attend, how to add more subscribers to your email list, how often to post on social media, what type of ads you want to run, how to get more people to your seminars, how to get more clients to refer.... And while these are completely logical ideas, it's often the ideas that leverage irrational and invisible influence that yield outsized returns. When was the last time you thought about: What your office or Zoom background is "signaling" to prospective clients? What minor detail or design on your website could drastically improve conversions? How to package your services in a way that feels less overwhelming and provides clarity around exactly what the client receives? What things could be causing your clients to perceive your services as expensive rather than a bargain? Rory Sutherland, author of Alchemy: The Dark Art and Curious Science of Creating Magic in Business, Brands, and LIfe, consults with companies around the world to help them enhance their branding and marketing by better understanding the invisible influences that shape our behavior. We discuss: Why you can't always trust what people say they want The real reason why people go see doctors (and financial advisors) The psychological challenges involved when saving for retirement (and what to do about it) How to use context to influence decision-making and behavior The power of "signaling" - the most underrated component in building trust And way more! *For more resources discussed in this episode, check out www.wiredplanning.com/episode37. *For more resources and insights on mastering the human side of money (including our popular "Wisdom Round-Up" email), go to www.wiredplanning.com.

Wealthways
53 | One-Year Anniversary

Wealthways

Play Episode Listen Later Oct 27, 2021 31:21


Today marks the one-year anniversary of the Wealthways podcast. The past 12 months have been filled with interesting conversations with inspiring women, all of whom have been incredibly generous with their time, forthcoming about their professional and personal journeys, and candid about the ways they define wealth.    Each has left an indelible mark on the show, and in this special anniversary episode, Dawn & Jane reflect on what they've taken away from those chats, discuss what they've learned about themselves, muse about their dream guests, and chart a course forward. ----more---- Brought to you by the Wealth Management team at State Bank of Cross Plains. For more information, please visit sbcp.bank.

Grow Your Business and Grow Your Wealth
EP 067 Chris Gure, Financial Consultant – Fortress Financial Partners

Grow Your Business and Grow Your Wealth

Play Episode Listen Later Oct 27, 2021 20:05


Show Notes   - The Grow Your Business and Grow Your Wealth podcast with Gary Heldt   - EP 067 Chris Gure, Financial Consultant – Fortress Financial Partners   Chris is a financial consultant in Fortress Financial Partners. He holds FINRA series 7, 63, and 66 registered with Fortress Private Ledger. He's also been an active volunteer with the Junior Achievement program to help promote financial literacy to students in grades K-12.   After graduating from Auburn University's Harbert College of Business with a Bachelor's Degree in Finance, Chris relocated to Raleigh to begin his career in Wealth Management. In addition to being a former nominee for Fidelity's President's Circle Award representing the top one percent of advisors, Chris has also been recognized by the International Association of Registered Financial Consultants for fostering public confidence in the financial industry.    Chris' insights include:    Chris' journey that led him to be a financial advisor in Fortress and what urge him to pursue his career? The differentiator between Fortress and a lot of huge fidelity level shops News headlines being the trigger of people's financial fear and what does he usually do to help? What is the biggest mistake that people do and how can they surpass it? What are the challenges that people are facing and how are they overcoming them? What is his biggest hiccup when he was just starting in the industry? The realization that he learned from a client that he is now practicing on a daily basis   Enjoy the show!   Connect with Chris:   Website: https://www.fortressfinancialpartners.com/ Twitter: https://twitter.com/ChrisGure LinkedIn: https://www.linkedin.com/in/chris-gure-366835a0/ Blog/Newsletter: https://fortressphysicians.substack.com/   Connect with Gary: Website: https://sbadvisors.cc/ Facebook: https://www.facebook.com/SmallBusinessAdvisors LinkedIn: https://www.linkedin.com/in/gary-d-heldt-jr-388a051/ Learn more about your ad choices. Visit megaphone.fm/adchoices

Obsessed
Obsessed with Breaking The Habit Of Being Broke ft. Laura Sexton

Obsessed

Play Episode Listen Later Oct 25, 2021 27:12


Laura Sexton is on a mission of teaching people about money.  And she shares how we can be financially free in this episode. Shockingly, only 30% of US households have a long-term financial plan, and the average amount in savings among Americans is $7,000. Furthermore, less than half of the Americans have less than 10,000 in their retirement. Laura talks about the generational money habits and how we can break them and teach kids about money. She also discusses the importance of investing and finding the balance between your life and your finances. Laura is a Financial Coach. She helps families take control of their finances; start paying for the past and start saving for the future. What you will learn from this episode 02:55 - What Laura Sexton is Obsessed With 04:21 - Why Many People Don't Like to Talk About Money 06:28 - How Laura Started on Her Mission 13:28 - How to Break Generational Money Habits 17:27 - Finding the Balance in Life and Finances 20:04 - Teaching Kids to Be Generous 21:25 - Should You Find a Partner With Only a Good Credit Score? 24:34 - Laura's Investment Strategy Learn More About Laura Sexton Website: https://linktr.ee/LSFinancial LinkedIn: https://www.linkedin.com/in/laurasextonmoneycoach See What Your Obsessed Girls Are Doing and Send Us Feedback! CROWN AND COMPASS | Linktree -  https://linktr.ee/crownandcompassgirls

The Alpha Female Podcast
AF 204: Kyleigh Marcotte Financial Solutions Advisor and Founder of Wealth Street Financial Solutions

The Alpha Female Podcast

Play Episode Listen Later Oct 22, 2021 56:29


Robyn talks to Kyleigh Marcotte about financial wealth and how she helps guide her clients. Kyleigh Marcotte is a Financial Solutions Advisor with Wealth Street Financial Solutions. Kyleigh founded Wealth Street Financial Solutions because she believes that everyone should have a clear path to financial freedom regardless of their current financial or economic situation. After years working as Communications Advisor to senior management in the Public Service Kyleigh was introduced to the Financial Services Industry and intuitively knew this is how she could make a better impact. She began working for an established Wealth Management firm and a few years later launched Wealth Street Financial Solutions to begin her own journey making a difference in the lives of her clients. Kyleigh helps hardworking individuals and families find clarity when it comes to their finances, improve relationships with money, identify financial goals and create a path to make their goals a reality. Sharing financial tips and tricks, helping clients understand the “why” behind the actions they're taking to reach their goals, and ultimately achieving their version of financial freedom is Kyleigh's focus. When she is not working Kyleigh loves connecting with women in business and leading the FemCity Ottawa-East networking group, spending time with family and friends, walking along a beach, or enjoying the fresh air and lake views at the cottage. Go to robynbaldwin.com/podcast for show notes.

The Soul of Enterprise: Business in the Knowledge Economy
The Ultimate Dragon Slayer, Daniel D. Morris

The Soul of Enterprise: Business in the Knowledge Economy

Play Episode Listen Later Oct 22, 2021 60:00


Ed and Ron are honored to welcome back Dan Morris, CPA, to the show. He's a master at the value conversation, and implemented Value Pricing back in his firm in 1996. He specializes in cryptocurrencies, wealth management, asset protection, multinational tax structures, tax optimization and much more. An excellent conversationalist, you don't want to miss this episode with one of the most innovative CPAs we know.

MSUWMA Podcast
Using Confidence in Wealth Management with Anne Marie Webster

MSUWMA Podcast

Play Episode Listen Later Oct 21, 2021 30:24


Anne Marie is a Certified Financial Planner and has been in the Financial Planning business since 2009. She recently opened her own firm called Curated Capital & Planning. WMA website: http://msuwma.com WMA YouTube: https://www.youtube.com/channel/UCT-eaRPTd0R1WlrLkRBweuQ Contact: msuwma@gmail.com Song credits: Ian Renfer - Just Another [Home Demo].wav

Motiv8 - The Motivation and Inspiration Podcast
Carla Harris: Advice to My Younger Self

Motiv8 - The Motivation and Inspiration Podcast

Play Episode Listen Later Oct 21, 2021 19:23


Today's motivation is for those who need to go fail at something. Audio Source: https://www.youtube.com/watch?v=ygibRq7YGGM&t=332s More about Carla: Carla Harris is Vice Chairman of Wealth Management and Senior Client Advisor at Morgan Stanley. She was Chair of the Morgan Stanley Foundation from 2005 to 2014, and sits on the boards of several community organizations. Quote of the Day: “You can't be what I call selectively motivated, where you can only work hard and smart when things are going well.” - Carla Harris Review Us on Apple Podcasts: https://podcasts.apple.com/us/podcast/motiv8-the-motivation-and-inspiration-podcast/id1505213616 Join me on Discord: https://discord.gg/YwuaacY9 --- Support this podcast: https://anchor.fm/motiv8/support