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72. It’s Never Too Early To Build Your Business’s Succession Plan



Are you busy serving clients, managing operations, and growing your business?

It’s time for you to take a step back and think about your exit strategy—even if it’s still years away.

In this episode, Tim Scannell discusses why it is never too early to start your succession planning. Using a detailed client example, Tim explains ways to ensure a fair wealth distribution to all of your successors, and how you can optimize the cash flow for your own dream retirement.

Tim discusses:

  • How Hightower Great Lakes’ Pathfinder helps you transition to a work optional lifestyle
  • Tips for dealing with the emotional elements of succession planning
  • Important topics you must discuss with your family before your exit business
  • Strategies that enable you to exit on your terms, and with confidence
  • And more

Connect With Tim Scannell:


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71. Meet Donald Stellin of Hightower Great Lakes



When experiencing economic downturns or just shifts in the market, it’s important to not allow emotions to run your decision making.

In this episode, Tim Scannell introduces listeners to Donald Stellin, a financial advisor for Hightower Great Lakes. Don shares his love for not only helping his clients achieve their financial goals, but also his love of skiing and deep involvement in the sport. Don explains how he tries to keep clients focused on their long-term goals and not allow emotions to influence their investment decisions.

Don discusses:

  • How he helps clients articulate and achieve their goals
  • What he sees differently in serving clients today compared to when he first started
  • The biggest personal finance mistakes he sees people make 
  • Why he emphasises keeping emotion out of investing
  • And more

Connect With Tim Scannell:

Connect With Donald Stellin:

About Our Guest:

Donald Stellin is a Financial Advisor with Hightower Great Lakes. He develops financial plans, manages investment portfolios, and works collaboratively with clients to create retirement income plans. He enjoys helping individuals, families, and business owners plan for a comfortable retirement by carefully listening to their needs and goals prior to developing a customized financial plan.


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70. 3 Critical Wealth Planning Mistakes Family Business Owners Make



Running a family business is complex—it’s easy to overlook simple things and then find your business in a complicated scenario.

In this episode, Tim Scannell shares three critical wealth planning mistakes he sees family business owners make. Tim walks you through each mistake and provides an example that showcases the types of issues that may arise.

Tim discusses:

  • Why your team may be working with the wrong advisor
  • Why focusing too much on tax minimization is a mistake
  • Family business owners failing to keep their wealth plans accurate
  • Why sometimes in our lives, we’re better off hiring specialists
  • And more

Resources: 

Episode 46 – Finding Your Advisor Glass Slipper

Connect With Tim Scannell:

 


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69. Meet Wesley Barnes of Hightower Great Lakes – With Wesley Barnes



Samantha Pietruszynski is in the hot seat today, she’s kicked Tim out of the interview chair! She is an associate wealth advisor for Hightower Great Lakes and she has brought along Wesley Barnes, Chief Operating Officer of Hightower Great Lakes.

In this episode, Samantha introduces us to Wes, we learn about his journey to becoming a CERTIFIED FINANCIAL PLANNER™ professional and more. Wes shares the challenging side of helping people with their financial needs, and how being a CFP® professional has helped him grow professionally. 

Wes discusses:

  • The most challenging aspect of being a financial advisor
  • How he has developed as a professional, and why he’s constantly focused on improving his communication skills
  • His advice for next gen advisors looking to work in an ensemble firm
  • His perfect, ideal client
  • And more

Connect With Samantha Pietruszynski:

Connect With Wesley Barnes:

About Our Guest:

As Chief Operating Officer, Partner at Hightower Great Lakes, Wes Barnes oversees operations for the firm and provides comprehensive advice and support for professionals, business owners, and their families including investment, retirement, college funding, estate and life insurance planning, and tax planning.


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68. Meet Blair Anderson of Hightower Great Lakes – With Blair Anderson



Policy changes can affect numerous things, and for Blair Anderson, knowing everything there is to know is something he strives to be on top of when those changes happen. 

In this episode, Tim Scannell introduces listeners to Blair Anderson, CEO and partner at Hightower Great Lakes. Blair shares a bit about his history as an advisor, how he approaches his work, especially when policy changes arise, and what it was like creating Hightower Great Lakes as part of a merger between Tim’s company and his own.

Blair discusses:

  • Why he became a financial advisor
  • Why he focuses on staying on top of policy changes and how he adapts 
  • The biggest benefits Blair has found in merging with Tim to create Hightower Great Lakes
  • What he likes to do outside of work 
  • And more!

Connect With Blair Anderson:

Connect With Tim Scannell:

About Our Guest:

Blair Anderson is CEO and Partner at Hightower Great Lakes. He brings more than 25 years of industry experience to the team, and focuses on developing comprehensive, goals-based wealth management strategies for clients.


Episode 67 – Why Mastermind Groups are Great for Business Owners



Being a business owner can get lonely. When you want to talk about ideas, it’s better to discuss with your peers.

In this episode, Tim Scannell talks all about mastermind groups, shares details about a group he is running, and how mastermind groups come to fruition. Tim explains the process of forming a mastermind group and why he sees so much value in them.

Tim discusses:

  • Four things Tim considers when creating a mastermind group
  • Why commitment & confidentiality are so important within the group
  • Why female CEOs & entrepreneurs often have more issues finding peers they can bounce ideas off
  • The discovery process of a mastermind group
  • And more

Resources: 

The Wealth Stream Podcast Episode 39 – Using Mastermind Groups to Leverage Your Success

Connect With Tim Scannell:


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Episode 66 – How To Secure Your Financial Future as a Young Person – With Justin McCurdy



Financial planning is important, no matter what stage of life you are in.

So as a youth who has just begun accumulating wealth, what are some key financial decisions you need to think about?

In this episode, Tim Scannell and Justin McCurdy, associate wealth advisor at Hightower Great Lakes, answer this question. Going through the investment management and advanced planning process, Tim and Justin address the challenges that the next generation might face in managing their finances, and how to deal with them.

You will learn:

  • Risk management strategies to suit your unique investment goals
  • The importance of early estate planning to make things easier for your beneficiaries
  • Ways to keep all your financial documents secure and organized
  • Questions you can ask advisors to see if they are the right fit for you
  • And more!

Tune in now to learn wealth management strategies to secure your financial future as a youth!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Justin McCurdy on LinkedIn | Jmccurdy@Hightoweradvisors.com | Contact Justin: (219) 476-3035 | The Wealth Stream, ep. 63 – The Next-Gen Team at Hightower Great Lakes – With Justin McCurdy | Riskalyze


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Episode 65 – Explore, Learn, and Interact From the Comfort of Your Home



At a year under lockdown, new and innovative virtual platforms have now made several opportunities accessible from the comfort of your home.

We believe that this virtual trend is here to stay.

In this episode, Tim Scannell takes a break from the financial planning side of things. Instead, he shares exciting virtual opportunities that he has either experienced firsthand or learned from his clients. Whether it’s traveling, learning, exploring nature, or attending various eating and drinking events – the virtual world has a variety of amazing things to offer.

You will learn:

  • How modern VR technology provides an unbelievably realistic travel tours
  • Interesting online events that you can attend to enrich your eating & drinking experience
  • Why virtual kid-friendly programs are a great way to instill curiosity and a passion for learning in your children
  • How globally renowned universities are extending useful e-learning resources
  • And more!

Tune in to learn how you can pursue your passion or hobbies through the new virtual world!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Road Scholar | Explore.org | Mei Mei Boston | Shedd Aquarium | Explore Fairbanks Alaska | Masterclass | Section4 | Class Central


Episode 64 – Can You Afford a Pet? – With Samantha Pietruszynski



Have you heard of the “pandemic puppy?” The pet adoption rates saw a sharp spike during COVID-19. After all, a furry friend would make the lockdown less lonely, right?

But – owning a pet comes with several financial responsibilities!

In this episode, Samantha Pietruszynski, an associate wealth advisor at Hightower Great Lakes, helps you navigate through life as a pet owner. Samantha shares her own experience in raising two pets, a cat and a dog, and discusses some of the major costs involved, both upfront and ongoing. She also provides several tips to help you budget for these costs so that you can make sure your pet gets everything it needs!

You will learn:

  • Why Samantha is a big fan of adoption vs. buying from a breeder
  • The importance of obedience training to avoid long-term behavioral issues
  • How subscription services significantly cut down your ongoing costs like food and toys
  • Ways to ensure that your pet gets a healthy amount of social interaction
  • Reasons to get pet insurance as early as possible
  • And more!

Tune in to better understand the financial implications of owning a pet!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Samantha Pietruszynski on LinkedIn | Contact Samantha: (219) 246-5709 | Email: Spietruszynski@hightoweradvisors.com | Chewy | BarkBox | PupBox


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Episode 63 – The Next-Gen Team at Hightower Great Lakes – With Justin McCurdy



We want to be able to serve our clients not just now, but for countless generations that follow.

That’s why we focus on preparing a technology-embracing, communication-focused, next-gen team at Hightower Great Lakes.

In this episode, Tim Scannell is joined by Justin McCurdy, associate wealth advisor at Hightower Great Lakes. Justin is a critical part of the next-gen team, and today, he discusses his current role at the company, his continuing education as a financial advisor and his long-term vision and goals.

You will learn:

  • How Justin’s active involvement during high school and college helped him build business and leadership skills
  • Ways in which Hightower Great Lakes leverages technology to provide remote services in a secure manner
  • Why you should always invest in continuing education
  • The importance of understanding the emotional aspect of financial planning
  • Justin’s advice to those who’re getting out of school and starting a new career
  • And more!

Play now and get to know Justin, an integral part of the next-gen team, on a personal and professional level!

Resources: Hightower Great Lakes: (219) 246-5370 | Tim Scannell on LinkedIn | Tscannell@hightoweradvisors.com | Justin McCurdy on LinkedIn | Jmccurdy@Hightoweradvisors.com | Contact Justin: (219) 476-3035 | American Cancer Society | DocuSign | Dalton Education