Investments – Page 5 – The Wealth Stream Podcast

Episode 30 – Exploring the Top Concerns of Commercial-Industry Business Owners

By thewealthstreampodcast | March 4, 2020

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Tim Scannell’s clients generally have five primary concerns around wealth preservation, wealth enhancement, wealth protection, charitable giving, and transferring wealth. As it turns out, business owners in the commercial industry are no exception.

In this episode, Tim Scannell shares the takeaways from his study that identifies the biggest concerns of family business owners in the commercial industry. In addition to interviewing the owners, Tim captures the perspective of children who work in these businesses as well as CPAs and an attorney. This conversation will give you insight into how these individuals are thinking about finances, what challenges they’re having, and what you can learn from them.

In this episode, you will learn:

About the rapidly changing aspects of the construction industry
How changes in technology are shifting how business is done
How to take advantage of CEO groups
What “role drift” is
The importance of working ON the business as well as IN the business
And more!

Tune in to hear the takeaways from Tim’s study about the biggest concerns of business owners in the commercial industry.

Resources: HighTower Great Lakes: (219) 246-5370 | White paper

Episode 29 – 6 Signs That Your Kids Are Entrepreneurial

By thewealthstreampodcast | February 19, 2020

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Are your children — your heirs — clearly passionate about your business? Do they express their vision for the future? Will they problem-solve their way to prosperity?

In this episode, Tim Scannell uncovers six traits that entrepreneurial kids tend to possess. Using examples from his own life and that of his clients, Tim shows you how to prepare your children for success, especially if they are showing the true traits of being entrepreneurial.

In this episode, you will learn:

How to properly prepare your heirs to receive wealth
What the six traits of an entrepreneur are and how to develop them
Who might be best to talk to your kids about the future (it might not be you!)
And more!

Tune in now and learn how to get a sense of whether your kids are entrepreneurial!

Resources: HighTower Great Lakes: (219) 246-5370

Episode 28 – Start Living in Your Optimal Financial World

By thewealthstreampodcast | February 5, 2020

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Wouldn’t it be great to have the confidence of knowing your wealth is preserved, your assets are protected, or even that the next generation is equipped to manage their wealth?

In this episode, Tim Scannell discusses how entrepreneurial business owners, even with the most complicated financial situations, can achieve their optimal financial world. Listen in as Tim walks you through questions that will test your knowledge of your business and personal finances with the purpose of uncovering how you can improve and live more optimally.

In this episode, you will learn:

How the services from a virtual family office can help you stay on track
What level of service entrepreneurs of all stages (i.e. super wealthy or on their way) could use from a family office
Keys to building your professional team
And more!

Tune in now and learn what changes you could make to achieve your optimal financial world.

Resources: HighTower Great Lakes: (219) 246-5370

Episode 27 – 3 Keys to Wealth Protection That Every High-Earner Should Know

By thewealthstreampodcast | January 22, 2020

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Everyone wants to protect their wealth, no question about it. But have you considered that if you’re a high-income earner, you’re more vulnerable to litigation?

In this episode, Tim Scannell unwraps strategies for shielding your wealth, with a special focus on asset protection strategies. This is a must-listen conversation in which Tim walks you through three takeaways that not enough high-earners know while sharing client-examples along the way.

In this episode, you will learn:

Which question Tim asks his clients first about their risk and why
Who to include in your team of professionals
What Tim does to help clients avoid lawsuits and motivate creditors to settle
Why insurance can be a low-cost, high-benefit way to protect yourself
Why transparency is a critical part of asset protection
And more!

Tune in now and gain clarity on how you can protect your assets!

Resources: HighTower Great Lakes: (219) 246-5370

Episode 26 – 4 Ways the Super Rich Manage Their Wealth

By thewealthstreampodcast | January 8, 2020

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What separates the rich from the not-so-rich?

In this episode, Tim Scannell uncovers the answers by sharing four major things the super-rich do to manage, grow, and protect their wealth. He also shares how the HighTower Great Lakes team helps their clients address the primary concerns that inspire these four habits.

In this episode, you will learn:

About the five concerns that people tend to have about their wealth
What the HighTower Great Lakes team does to help clients address these concerns
How the super-rich go about finding and working with top experts
What it means to work with advisors that focus on the human element
The importance of paying attention and knowing what you’re agreeing to
And more!

Tune in now and learn how to start managing your wealth like the super-rich!

Resources: HighTower Great Lakes: (219) 246-5370

Episode 25 — How to Stay One Step Ahead With Cybersecurity — With Sarah Khan

By thewealthstreampodcast | December 30, 2019

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Protecting client data is of great importance to the HighTower Great Lakes team. That’s why they’ve enlisted Sarah Khan to help protect clients and advisors from digital threats.

Today, Tim Scannell is joined by Sarah, HighTower’s chief information and security officer, to explore how she works behind the scenes to protect clients. Sarah also shares steps you can take today to keep yourself and your information safe.

In this episode, you’ll learn:

About Sarah’s role at HighTower Great Lakes and how it benefits clients
How Sarah and her team ensure that clients’ information is kept safe
The value in using two-factor authentication
Sarah’s tips and tricks for protecting your data from hackers
And more!

Join Tim and Sarah now for an information-packed episode on how you can stay safe with cybersecurity!

Resources: HighTower Great Lakes

Episode 24 – An Inside Look at the Investment Process — With Steve Billimack CIMA®, CAIA®, AIF®

By thewealthstreampodcast | December 23, 2019

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HighTower Great Lakes has a highly certified and diverse team of professionals — including Steve Billimack.

When serving high-net-worth clients, the core of HighTower Great Lakes’ planning always boils down to investment consulting. As someone who focuses the most on the investment process, Steve joins Tim Scannell today to discuss what he does and what he brings to the table for clients.

In this episode, you’ll learn:

About Steve’s background with compliance and research
How he applies his experience to his everyday work with clients
What Steve hears clients say they love most about HighTower’s planning process
How Steve protects clients from a compliance and due diligence standpoint
About the client-niche that Steve serves and how planning for them is different
What Steve’s hobby is when he’s not working with clients
And more!

Listen now to learn about Steve Billimack and get an inside look at the investment process!

Resources: HighTower Great Lakes | Contact Steve: 312-962-3826

| stevebillimack@hightoweradvisors.com

Episode 23 – The Wealth Management Process: Part 2

By thewealthstreampodcast | December 11, 2019

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Once you’ve finished the discovery part of HighTower Great Lake’s wealth management process, it’s time to dive into planning.

In part two of his mini-series, Tim Scannell gives you an exclusive preview of how the wealth management process unfolds across the next four meetings. This is your chance to explore the process and find out how you could benefit from Tim’s thorough, client-centric approach.

In this episode, you will learn:

Which types of analyses are done during the investment plan meeting
What the purpose of the mutual commitment meeting is
How all new documents and statements are organized and prioritized during the follow-up meeting
What types of issues are discussed in the advanced planning stage
How Tim and his team help clients plan for both anticipated and unexpected transition points

Tune in to learn more about the wealth management process and what to expect when working with Tim Scannell and his team.

Resources: HighTower Great Lakes | Episode 22 – The Wealth Management Process: Part 1

Episode 22 – The Wealth Management Process: Part 1

By thewealthstreampodcast | November 27, 2019

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Get ready for a tour of HighTower’s process that addresses clients’ advanced planning needs!

In today’s episode, Tim Scannell discusses the wealth management process at HighTower Great Lakes. He sheds light on how he gets to know clients during the first stage called the discovery process and which types of information he is most interested in gathering.

In this episode, you will learn:

What the wealth management process looks like at HighTower Great Lakes
The different aspects covered in the wealth management process
The kinds of information gathered during the discovery process
The main priorities covered with each client during the discovery process
About different types of client personalities (e.g. The Family Steward, The Independent, etc.)
And more!

Tune in to learn how Tim and his team get to know their clients during the first stage of the wealth management process.

Resources: HighTower Great Lakes

Episode 21 – Cash Balance Plans Explained — With Mary Stines

By thewealthstreampodcast | November 13, 2019

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Are you looking for a way to ease your tax bill and attract employees to your company?

In this episode, Tim Scannell interviews special guest Mary Stines of Crowe LLP. Mary uses her immense knowledge of taxation and years of experience to answer all of your questions about cash balance plans (CBPs). She even provides highlights from a real-life example of how a company has benefitted from this type of plan.

In this episode, you will learn:

What a cash balance plan is
Whether a CBP will work with your current 401(k) plan
Whether there are restrictions or limits for CBP contributions
As a company owner, what you need to be aware of regarding CBP
And more!

Tune in now and learn about cash balance plans — their benefits to you may be worth more than you know.

Resources: HighTower Great Lakes: (219) 246-5370 | Mary Stines: (574) 239-7824