Monthly Archives: August 2023

Episode 180 – How to Make Your Website Business Develop (and Introduce Yourself to Prospects) with Nate Blair

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Nate Blair is a Partner at Palo Alto Wealth Advisors alongside long time friend, Ryan Schmidt. The two founded Palo Alto Wealth Advisors in order to serve the unique needs of tech professionals as they plan their lives and careers.

In this podcast, Nate discusses the client-focused approach to marketing which Palo Alto Wealth follows, highlighting the short film bios created to promote the firm in a new, creative way.

They also discussed:

  • Nate’s unconventional path to becoming a financial advisor, transitioning from investment banking and private equity.
  • Co-founding Palo Alto Wealth Advisors and the importance of trust and alignment in partnerships.
  • Focusing on a niche clientele and differentiating yourself in a competitive market.
  • Introducing the unique approach of using short film bios to market the firm.
  • Collaborating with Drew Forest from Forest Brand Design and the process of creating the authentic and personal videos.
  • The positive outcomes from the video bios in terms of client acquisition and growth.
  • Self-selection of clients based on the videos leading to better-fit prospects.
  • The emphasis on client-focused approaches as the core of their strategy going forward.

 

Resources: 

Palo Alto Wealth

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Episode 182 – The Charitable Arm of Financial Services with Barkley Payne

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In this podcast, Barkley Payne, President and Executive Director of Invest in Others, introduces the firm and its mission to support nonprofits through the involvement of financial professionals who contribute their resources, time, and talents.

They also discussed:

  • The platform for financial advisors that Invest in Others offers, allowing them to make a positive impact by channeling their philanthropy and volunteerism towards causes they care about.
  • The awards and grant programs of Invest in Others which recognize and amplify the charitable work carried out by financial advisors and firms within their communities.
  • The strategic planning Barkley is working on for the organization’s future growth.
  • The impact of Invest in Others’, where support has led to the growth and betterment of nonprofits serving vulnerable communities.
  • The selection process for Invest in Others Awards.
  • Invest in Others program offerings like Charitable Champions and Grants for Good, and applications for these grants open on specific dates.
  • The upcoming Invest in Others Awards Gala is highlighted, celebrating the charitable work of financial advisors and granting prizes to winners and finalists.

 

Resources: 

Invest in Others

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Episode 179 – Direct Indexing Demystified: Personalized Wealth Strategies with Dave Gordon

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David Gordon is the Senior Vice President of Direct Indexing at Vestmark: a wealthtech firm that provides portfolio management solutions and outsourced services to financial professionals.

In this podcast, Dave and Doug discuss how advisors can use tax management methods to attract and retain clients, ultimately helping them grow their businesses.

They also discussed:

  • Tax management’s role in client support and advisor-client retention.
  • The importance of tax efficiency for differentiating advisor services.
  • Both the challenges and benefits of separately managed accounts (SMAs) for RIAs.
  • Direct indexing: concept, advantages, and performance.
  • Personalization through direct indexing for tailored tax outcomes.
  • The scale challenges in implementing tax-efficient strategies.
  • Vestmark’s software support for tax-efficient strategies, especially for smaller RIAs.

 

Resources: 

Vestmark

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Episode 178 – Decoding the CRE Puzzle with Amna Nawaz

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In this episode, listen as Amna Nawaz, Investment Analyst in the OCIO at CrowdStreet, discusses the world of commercial real estate, uncovering mispriced opportunities, market trends, and the art of navigating a changing economic landscape.

They also discussed:

  • Mispriced opportunities in the CRE market due to inefficiencies, especially in the face of historically high interest rates.
  • Examples of mispriced opportunities, like discounted multifamily deals with assumable debt and attractive basis.
  • The CrowdStreet commercial real estate outlook report, covering major and niche asset classes and key themes.
  • Geographic considerations focus on caution, favoring primary, affordable, and coastal markets.
  • Optimism for the future of CRE, highlighting viable deals and creative strategies amid market adjustments.

 

Resources: 

CrowdStreet

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Episode 177 – Moments That Matter: The Default Caregiver with Steve and Phyllis Gresham

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In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on the role as the default caregiver. Steve and Phyllis delve into the intricacies of caregiving, sharing personal anecdotes, financial challenges, and reflections on aging while highlighting the importance of planning for the future.

They also discussed:

  • The advocacy and caregiver role in long-term care and the challenges that follow, especially for women.
  • Dealing with care for elderly relatives with cognitive issues.
  • The importance of planning and communication in caregiving and finances.
  • The need for advisors to discuss potential constraints and scenarios with clients.
  • The self-centered focus older individuals tend to have, not interested in others’ experiences.
  • Addressing devastating diagnoses and the challenges of treatment decisions
  • Phyllis’s reflections on her own aging process and how she chooses meaningful activities.

 

Resources: 

NextChapter

Alliance for Lifetime Income

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Episode 176 – Moments That Matter: Unexpected Health Events with Steve and Phyllis Gresham

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In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on unexpected medical events. The duo explores the challenges, lessons, and need for preparedness surrounding caregiving, long-term care, and the inevitable health changes that come with age.

They also discussed:

  • Challenges advisors face when clients experience unexpected medical events.
  • The effects of chronic health issues gradually impacting daily life.
  • The transition to a sudden and drastic change in health, leading to a need for external help and medical intervention.
  • Acknowledgment of complex medical considerations for treatment and care, considering age and cognitive issues.
  • The need for preparation and decision-making when facing retirement and potential health issues, including the consideration of long-term care facilities.
  • Advocacy and involvement of family members in ensuring quality care in long-term care facilities.
  • The lack of awareness and understanding among people regarding their roles in long-term care situations.
  • Addressing the gender disparity in longevity and how it impacts retirement planning.

 

Resources: 

NextChapter

Alliance for Lifetime Income

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Episode 175 – Moments That Matter: Aging in Place with Steve and Phyllis Gresham

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In this podcast, Steve Gresham, the Managing Principal of NextChapter and the Senior Education Advisor with the Alliance of Lifetime Income, is joined by his mother, Phyllis Gresham, for a special episode on aging in place. The two discuss the importance of planning ahead for the vulnerable later years of one’s life; highlighting necessary arrangements for home maintenance and health maintenance to secure a stable future.

They also discussed:

  • Impact of unexpected events, such as natural disasters like hurricanes, on the feasibility of aging in place.
  • The consideration of other living options, such as a continuous care retirement facility, and the significance of making such decisions early.
  • Exploration of the concept of retirement stages, including the “gogo” phase characterized by active pursuits and the challenges that come with shifting physical and mental abilities.
  • Importance of having a support system and family discussions when planning for aging and considering the transitions.
  • Advisor’s role in initiating conversations about safety, preparedness, and realistic expectations for retirement.
  • Highlighting the need for individuals to address potential risks in their homes, such as falls, and the implementation of safety measures.
  • Encouragement for advisors to ask probing questions about clients’ plans and preparations for aging in place, facilitating a gradual and easier transition.

 

Resources: 

NextChapter

Alliance for Lifetime Income

 

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Episode 174 – Securing Your Future with Mike Harris and Tom West

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Mike Harris with the Alliance for Lifetime Income hosts an episode in conversation with Tom West, a Senior Partner at Signature Estate & Investment Advisors. In this podcast, Mike and Tom talk through retirement income planning and the risk of outliving one’s retirement savings.

They also discussed:

  • The latest research study “Protected Retirement Income and Planning” (PRIP).
  • Consumer optimism about having enough money for retirement being low.
  • The Importance of reducing ambiguity and educating clients for advisors.
  • Personalizing solutions and acknowledging client concerns.
  • Shifting consumer priorities – health concerns over financial worries.
  • Addressing the intersection of health care and financial planning.
  • The communication gap between advisors and clients on protection and specific risks.
  • Handling discussions about cognitive decline with clients and families.

 

Resources: 

Alliance for Lifetime Income

Signature Estate & Investment Advisors

 

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Episode 173 – The Five Myths of Wealth Management M&A with Jim Tennies

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Jim Tennies is the President and Co-Founder of InCap Group, a boutique investment bank providing sell-side and buy-side M&A advice, valuation services and capital raising assistance.

In this podcast, Jim debunks the “myths” and misconceptions in wealth management M&A that may be holding you back from making informed financial decisions.

They also discussed:

  • The complexities of valuing a firm beyond just valuation multiples.
  • The notion that selling a company equates to immediate retirement for the owner.
  • The differences between various buyers and aggregators in the industry.
  • The state of valuations in the wealth management market over the past 12 months.
  • How sellers can still participate in the future growth of their company after a transaction.

 

Resources: 

InCap Group

 

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