Investments – The Wealth Stream Podcast

Navigating The Dreaded Tax Season (Ep. 105)

By thewealthstreampodcast | April 12, 2023

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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:

Wealth Stream Podcast: 5 Strategies for Identifying Replacements for Business Owners Ep. 104

Connect With Tim Scannell:

71. Meet Donald Stellin of Hightower Great Lakes

By thewealthstreampodcast | August 25, 2021

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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.

70. 3 Critical Wealth Planning Mistakes Family Business Owners Make

By thewealthstreampodcast | August 11, 2021

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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

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

By thewealthstreampodcast | July 28, 2021

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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.

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

By thewealthstreampodcast | July 14, 2021

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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

By thewealthstreampodcast | June 30, 2021

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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:

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

By thewealthstreampodcast | June 16, 2021

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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!

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

By thewealthstreampodcast | May 5, 2021

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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!

Episode 62 – How To Minimize the Tax Impact of Your Business Sale

By thewealthstreampodcast | April 21, 2021

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When you’re planning to sell your business, it’s extremely important to factor in the impact of taxes – both on the federal and the state level.

In this episode, Tim Scannell is joined by returning guest John Wiktor, head of the Trusts and Estates Group at HMB Legal Counsel. John dives into the tax-planning side of every business sale, and talks about how you can minimize your state taxes by either changing your residency or through trust planning.

You will learn:

How the new tax proposal under the Biden administration, if passed, affects your capital gains taxes.
The importance of reviewing your business structure before planning the sale
Why you should start planning at least a year prior to your exit
Things you need to consider before changing your residency to a new state
How to use various trust funds to optimize your business sale without having to move
And more!

Tune in now to learn how you can make your business sale highly tax-efficient by planning well ahead of time!

Episode 61 – How To Manage the Flood of Emotions That Follows Retirement

By thewealthstreampodcast | April 7, 2021

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Are you emotionally prepared to leave your work? Have you thought about the next great adventure you wish to pursue?

In this episode, Tim Scannell is joined by a very special guest, his wife, Nancy Scannell, who recently retired from teaching. Nancy discusses the emotional impact of retirement, how she managed to cope with it, and how you can discover your inner passion to help you decide the next step in your life.

You will learn:

How Nancy overcame the challenges in leaving a job that she really loved
Ways to remain strongly connected with people post-retirement
Why your work does not completely define who you are – and how to create parallel path that you enjoy
The value that lies in having a great leadership coach
How to find your personal vocation through the miracle of conversation
And more!

Tune in now to learn how you can prepare yourself to bid farewell to your work and embark on the next great adventure in your life!