Tag: Financial Planning

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Important Lessons About Long-term Investing & Inflation With Michael Shea (Ep. 114)

Important Lessons About Long-term Investing & Inflation With Michael Shea (Ep. 114)

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In a world plagued by rising prices, inflation, and interest rates, you can’t help but wonder: How will these factors impact the stock market and our financial stability?

In this episode, Tim Scannell introduces Michael Shea, the Managing Director of the Investment Solutions Group at Hightower. Michael shares his investment style focused on value and capturing dividend flow, the importance of managing against benchmarks, and staying current with market information. 

Learn about Michael’s views on inflation and its impact on financial markets and how he advises clients while considering the impact of inflation and interest rates on their finances.

Michael discusses:

  • His unique stance on the impact of inflation and the current state of the markets
  • The Federal Reserve’s response to the pandemic and why he entirely disagrees with it
  • The impact of the Fed overstimulating the economy and how it contributed to the inflation we are seeing now
  • The impact of reshoring and what you can expect from this change in the future
  • And more

 

Connect With Tim Scannell:

Connect With Michael Shea:

About Our Guest:

Michael Shea is a financial advisor who works out of Park City, Utah. Shea is an employee of Hightower Advisors, LLC. Shea has gained experience at Hightower and Prudential Equity Group, LLC. Shea maintains Series 63 and Series 65 licenses, qualifying them as both a securities agent and an investment advisor representative, and is able to work in Illinois, New York and Utah.

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Exploring the Current State of the Economy and the Impact of Inflation with Stephanie Link (Ep. 113)

Exploring the Current State of the Economy and the Impact of Inflation with Stephanie Link (Ep. 113)

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What’s your take on the importance of infrastructure investment and onshoring for supporting the economy? 

In this episode, Tim Scannell invites Stephanie Link, Chief Investment Strategist and Head of Investment Solutions for Hightower, to delve into the services provided by Hightower’s asset management business, the importance of research and staying informed about global markets, and Stephanie’s thoughts on inflation. 

They also touch on topics such as infrastructure investment and onshoring, and the impact of higher interest rates on borrowing rates and bond yields. Stephanie also emphasizes the value of talking to colleagues outside of Hightower for different perspectives.

Stephanie discusses:

  • The value of staying informed about the market & including various advisor opinions when wealth planning
  • Her perspective on rising inflation (what you can expect in the coming months)
  • The recent state of the US infrastructure and what this could mean for your investments
  • Her professional insights into the impact of interest rates, the job market, the housing market, and so much more!

 

Resources: 

Connect With Tim Scannell:

Connect With Stephanie Link:

About Our Guest:

Stephanie Link is an experienced Managing Director with a demonstrated history of working in the Investment Management industry. Skilled in Securities, Investment Advisory, Mutual Funds, Trading, and Fundamental Analysis. Stephanie is a strong finance professional with a BS focused in Finance from Boston College Carroll School of Management. 

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A Comprehensive Guide to Business Exit Preparation: A Recipe for Business Success (Ep. 112)

A Comprehensive Guide to Business Exit Preparation: A Recipe for Business Success (Ep. 112)

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Successfully exiting your business isn’t easily done without the help of other professionals, credible resources, and other business owners who have “been there, done that!”

In this episode, Tim Scannell discusses the value of strategic business planning for business owners. They outline the steps involved in valuing and preparing a business for exit, including estimating the equity value of the business using tools like Biz Equity. 

Tim discusses:

  • The 4 steps of long-term business planning: Discovery, Personal Readiness, Financial Readiness & Determining the Business’ Value
  • The value of professional guidance including attorneys and CPAs in your business valuation process
  • How to maintain productivity and keep your eye on the “bigger picture” when valuing your business
  • Exit channels: What they are & how to know which one is suited for your business needs
  • And more

Resources: 

Connect With Tim Scannell:

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The Success Metrics Every Business Owner Should Use (Ep. 110)

The Success Metrics Every Business Owner Should Use (Ep. 110)

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How do you measure success in your business?

There isn’t one definitive way of measuring the success of your business, however, there are strategies and benchmarks you can use to get an accurate idea of how it is performing.

In this episode, Tim Scannell discusses some of the most reliable metrics you can use as a business owner to gauge the value of your business and maximize the return you receive when you decide to exit.

Tim discusses:

  • How to measure growth and success using benchmarks
  • How to discover the percentage of business value each position in your company holds
  • The first few things you should do if you become an “accidental business owner”
  • How he educates business owners and makes them realize the worth of their business PRIOR to exiting and selling it
  • And more

 

Resources: 

Connect With Tim Scannell:

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A Conversation About Fiduciaries With Don Stellin (Ep. 109)

A Conversation About Fiduciaries With Don Stellin (Ep. 109)

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Many financial advisors express great admiration for fiduciaries, while some undermine their significance in the financial industry and argue against their necessity.

However, by the conclusion of this episode, you will attain a thorough comprehension of fiduciaries and gain the ability to appreciate the immense value they bring to your financial planning endeavors.

In this episode, Tim Scannell invites returning guest, Don Stellin, onto the podcast to discuss the role, purpose, and value fiduciaries have in the financial planning processes of both retirees and working professionals.

Don discusses:

  • Why you need to know whether your financial advisor is a fiduciary
  • What a suitable standard is and how to know if your financial advisor’s standard is a good match with your financial values
  • The important questions your financial advisor should be asking you–and what it could mean if they aren’t asking them
  • Revenue neutrality and being brand agnostic–how to find out if your financial implements these into their business strategy
  • And more

Resources: 

Connect With Tim Scannell:

Connect With Donald Stellin AIF®:

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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How To Strategize Your Taxes For Maximum Benefit (Ep. 108)

How To Strategize Your Taxes For Maximum Benefit (Ep. 108)

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When someone mentions “taxes” or “tax season”, it may cause you to tense up and feel a wave of stress. 

This usually happens when people aren’t confident in their tax strategies and worry they may be losing more money than they have to.

In this episode, Tim Scannell delves into the world of tax strategies and explores some practical tips and tricks for individuals and businesses to maximize their tax savings.

Tim discusses:

  • The difference between tax deferral and permanent tax savings
  • The pros and cons of tax deferral and how to know if it’s the right choice for you
  • Tax strategies for business owners and how to maximize the amount of hard-earned money you keep and reinvest in your business
  • Some recent tax policy changes and how to find out if they affect you or your business
  • And more

Resources: 

Connect With Tim Scannell:

 

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Finding Your Lifelong Accountability Partner (Ep. 107)

Finding Your Lifelong Accountability Partner (Ep. 107)

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Lifelong relationships aren’t just created outside the workplace.

These types of relationships are created with colleagues and clients all the time!

In this episode, Tim Scannell discusses how he curates his professional relationships as well as how he helps others find and maintain meaningful relationships, including accountability partners, both in and out of the financial world.

Tim discusses:

  • The relationship he has had with a client since 1990 and how he maintains it
  • Financial accountability partners and how he helps people find theirs
  • How he helps families curate realistic college education plans
  • Tips on how to achieve those specific retirement goals you may have (like retiring on the beach!)
  • And more

Resources: 

Connect With Tim Scannell:

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Creating A Successful Exit Plan As A CEO With Scott Bening (Ep. 106)

Creating A Successful Exit Plan As A CEO With Scott Bening (Ep. 106)

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Step into the shoes of a CEO turned retiree who has made the most of his golden years! 

Join Tim Scannell as he welcomes Scott Bening, the retired CEO of Monosol, LLC and Amazon Best Selling Author, to the show. Discover how Scott expertly navigated his retirement journey and transitioned into a productive and satisfying next chapter in life. Don’t miss out on valuable insights and inspiration to plan your own successful exit strategy. 

Scott discusses:

  • How he, as a retired CEO, curated his personalized exit plan
  • How to keep yourself busy in retirement 
  • Why even CEOs can worry about their finances during retirement
  • The process of writing his book “Formulating Solutions” 
  • How the online platform “Scribe” can help you write a book too
  • And more

Resources: 

 

Connect with Tim Scannell:

Connect with Scott Bening:

About Our Guest:

Scott Bening is the recently retired CEO of Monosol, LLC. He is an Amazon Best Selling Author, President of MBS2 Advisors, LLC, and the Senior Executive Advisor at Kuraray Innovation Network Center (INC). 

Scott attended St. Lawrence University and received his Bachelor of Science there in Chemistry. Later down the road he attended the University of Illinois Chicago and received his Executive MBA.

His business, MonoSol Division of Kuraray, is a global Lean Manufacturing technology group with proven research and development capabilities and an unparalleled value proposition. They have the ability to develop new products or improve upon existing ones based on our expertise in all materials. Their team has extensive experience in working through problems that arise in business processes, material science, product design, manufacturing, and supply chain. 

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Navigating The Dreaded Tax Season (Ep. 105)

Navigating The Dreaded Tax Season (Ep. 105)

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There’s no escaping the dreaded tax season, so you might as well learn how to navigate it efficiently!

In this episode, Tim Scannell discusses some of the ways he helps people minimize their taxes during tax season. This includes tax loss harvesting, staying up to date with tax law changes, and so many more of Hightower’s wealth enhancement strategies!

Tim discusses:

  • How you can apply our wealth enhancement strategies during tax season
  • How to enhance your tax loss harvesting strategies
  • Transferring funds, real estate, and investments down to the next generation using current gift tax laws
  • Tax law changes coming or already in place for 2023
  • And more

Resources: 

Connect With Tim Scannell: