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What role does a lifelong learning plan play in multi-generational wealth transfer?

Tim Scannell is picking up from where he left off in his previous episode on multi-generational family meetings. Today, Tim talks about the importance of having a lifelong learning plan, what the plan entails, and how it can help families during wealth transitions.

In this episode, you’ll learn:

• About the role of a lifelong learning plan in transferring wealth between generations
• Why it’s beneficial for families to create a lifelong learning plan
• The #1 concern that clients have during generational wealth transition planning
• Factors to consider when creating a lifelong learning plan
• And more!

Tune in to learn how a lifelong learning plan can help you and your family navigate your financial future!

Resources:  HighTower Great Lakes | Episode 7 – Multigenerational Family Meetings

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Do you know how to prepare for the successful transition of family wealth?

You’re about to find out.

In today’s episode, Tim Scannell discusses a powerful tool that helps families pass on their legacy to their heirs—family meetings.

Here’s what you’ll learn about in today’s episode:

• The primary goals of multigenerational family meetings
• Tim’s approach to introducing his clients to the concept of family meetings
• The importance of transferring wealth as well as the history behind the wealth
• How Tim conducts a multigenerational meeting from start to finish
• What a lifelong learning plan is
• And more!

Tune in now to learn all about multigenerational family meetings and how Tim Scannell can help you!

Resources:  HighTower Great Lakes |

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Preparing to transfer your wealth to the next generation is important, but it’s also important to consider how philanthropy can help prepare the next generation to receive your wealth.

In this episode of the Wealth Stream podcast, Tim Scannell of HighTower Great Lakes shares how he and his team encourage clients to engage their families in their philanthropic legacy giving.

In this episode, you’ll learn:

• How protecting a family brand is equally as important as protecting financial assets
• How philanthropy helps open up the conversation about money and saving with children and grandchildren
• Why you should ask ‘why’ to your mentors when choosing the organizations to support
• Why using philanthropy as a part of your overall financial plan is such a great tool
• The importance of speaking with families about current philanthropy and moving towards an organized family plan for charitable giving
• And more!

Join Tim now to learn all about charitable giving!

Resources:  HighTower Great Lakes

 

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So, you’ve sold the family business — now what?

In part four of Tim Scannell’s Looking Downstream mini-series, Tim discusses the way his team helps clients protect their funds for generations to come.

In this episode you’ll learn:

• The way that HighTower Great Lakes protects clients’ wealth
• Why HighTower Great Lakes definition of wealth encapsulates so much more than financial assets
• Tim’s process for multi-generational family meetings
• The importance of focusing on transition points in life — and being prepared for positives and negatives that come from those
• And more!

Tune in now to learn how you can protect your wealth for generations to come!

Resources:  HighTower Great Lakes | Looking Downstream: Part 1 | Looking Downstream: Part 2 | Looking Downstream: Part 3

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When exiting your business, it can be difficult to anticipate what to expect when dealing with potential buyers.

Luckily, Tim Scannell is here to help! In part three of his mini-series on navigating the selling of your business, Tim helps you prepare to enter the marketplace and present your business to potential buyers.

In this episode, you’ll learn:

• What buyers want to know before they purchase your business
• How Tim helps business owners find buyers that will carry on the business’ culture and values
• What your team resumé includes and why it will matter to potential buyers
• The different categories of buyers and what they typically look for in businesses
• And much more!

Tune in now and gain the insight you need to enter the marketplace with confidence!

Resources:  HighTower Great Lakes | Looking Downstream: Part 1 | Looking Downstream: Part 2

 

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Did you know that fly fishing and owning a business share many similarities?

In part two of his five-part series, Tim is back to explain how business owners can prepare to “enter the river” and successfully navigate the next steps in their business exit strategy.

In this episode, you’ll learn:

• How Tim helps clients look downstream to prepare their businesses for an exit down the road
• At what point business owners are ready to “enter the river” (and what that entails)
• Tim’s recommendations for one of his current clients—a management team that is buying a family-owned business
• Why Tim recommends that every small business have a chief financial officer
• The importance of being adaptable during the planning process
• And much more!

Tune in now to learn a new way to think about exiting your business!

Resources:  HighTower Great Lakes | Looking Downstream: Part 1

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Fly fishing and generational wealth planning have more in common than one might think, according to Tim Scannell.

In part one of his five-part series, Tim explains why he encourages clients to “look downstream” to create generational financial plans that build wealth far into the future.

In this episode, you will learn:

• Why Tim strategically helps clients focus on their long-term planning in finance
• About the importance of building the right team to execute the client’s goals, rather than defaulting to the team that’s been around the longest
• About Tim’s experience with building a standout team (both internally with staff and externally with buyers) and the difference it makes in the long-term
• And much more!

Join Tim for part one of this miniseries and don’t forget to look for the next episode!

Resources:  HighTower Great Lakes

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In this premiere episode, you’ll meet Tim Scannell, the managing director and partner at High Tower Great Lakes Wealth Management. Tim is a Chartered Professional Accountant and a CERTIFIED FINANCIAL PLANNER™ professional.

Tim works with entrepreneurs and business professionals to proactively plan for their financial futures. He helps his clients set financial goals that launch them on the path to success.

In this episode, you will learn:

• Why Tim chooses to work mostly with family-owned businesses
• How High Tower Great Lakes Wealth Management remains active in the community
• The importance of “transition points” in building lifelong wealth
• Who Tim Scannell is and why he does what he does
• And more!

Tune in now and get to know Tim Scannell in this debut episode of The Wealth Stream podcast!

Resources: HighTower Great Lakes