Category Archives: Centura Wealth Advisory

Episode 9 – CARES Act Considerations for Business Owners and Ultra High-Net-Worth Individuals — With Ken Van Damme of Ernst & Young

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The Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, is an economic law designed to address the financial impact of the COVID-19 pandemic.

But how does this act provide support for entrepreneurs and business owners?

Today, Kyle Malmstrom joins Ernst & Young partner Ken Van Damme to provide an update on the CARES Act and what its provisions mean for business owners and ultra high-net-worth individuals.

In this episode, you will learn:

  • Business planning considerations for the Paycheck Protection Program
  • Ways the CARES Act is impacting the real estate industry, owners, and operators 
  • How Net Operating Loss (NOL) carry-back provisions can benefit business owners
  • How the CARES Act is enhancing charitable contributions and retirement plans 
  • And more!

Tune in now for your update on the CARES Act and the provisions that you need to know about!

Resources:  Centura Wealth Advisory | Ken Van Damme | Ernst & Young

Episode 8 – Powerful Strategies for True Asset Protection –– With Siddharth Chhokar

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With 20 million lawsuits filed every year, asset protection has proven to be a major concern for wealthy individuals.

In this episode, Derek Myron speaks with Siddharth Chhokar of Chhokar Law Group about how ultra-wealthy individuals can achieve true asset protection. They discuss powerful planning options for people who live in states that don’t have asset protection laws, along with strategies for negotiating and for removing the threat of outrageous litigation.

In this episode, you’ll learn:

  • The difference between the segregation of risk and true asset protection
  • Which three states allow you to create a private trust company 
  • How to protect assets in your child’s trust — even though certain states don’t allow people to create self-settled asset-protection trusts
  • What actions to take before the tax landscape changes
  • And more!

This is an informative episode that you will want to rewind and listen to again! Tune in now to hear powerful planning strategies to help you achieve true asset protection.

Resources:  Centura Wealth Advisory | Chhoker Law Group: (858) 384-5757

Episode 7 — SBA PPP Loans: What “perplexed” business owners need to know! – with guest Dan Yates, CEO of Endeavor Bank

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The Treasury Department recently issued new FAQs regarding SBA PPP loans. It addresses many key questions and issues, however, some business owners remain in the dark and are looking for clarity.  

In part three of the PPP loans series, Derek Myron speaks with Dan Yates, CEO at Endeavour Bank, to offer an insight from the banks’ perspective of the SBA PPP loans and the most recent expansion of the program. Together they break down the current funding situation, and what the recent FAQs do to provide more clarity – and in some cases create some unknowns.

In this episode, you’ll learn:

  • How banks are addressing SBA PPP loan applications
  • How internal and federal restrictions on banks may be impacting processing
  • Tips for business owners who feel “stalled” in the process
  • The chances of a third round of PPP funding
  • The loan forgiveness eligibility and process
  • And more!

Tune in now to hear facts and gain clarity about the SBA PPP program.

Resources:   Centura Wealth Advisory | Endeavour Bank

 

Episode 6 — How can small business owners optimize SBA PPP loans? – with Curt Welker, CPA and Tax Partner of PKF San Diego

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Congress has recently approved an additional $310 Billion in SBA PPP loans. This aims at supporting small businesses in running their operations and paying their workers. However, it is crucial that business owners gain an in-depth understanding of this program in order to optimize SBA PPP loans.

At Centura Wealth Advisory, we help small business owners by through tax planning and business strategies to maximize their wealth.

Today, Derek Myron joins tax expert Curt Welker, CPA tax partner with PKF San Diego to provide a breakdown of the SBA PPP. Together they offer many key facts about this program and answer your burning questions. 

In this episode, you’ll learn:

  • What should business owners do before and when they have gotten the PPP SBA loan
  • The hurdles business owners need to jump through before receiving complete loan forgiveness
  • Important strategies you can implement to optimize this program for your business
  • Can employers defer social security payroll taxes under the PPP 
  • How can business owners free up additional cash flow in these times
  • And more!

Tune in now to learn all about the SBA PPP program and how it can help keep your business afloat!

Resources:  Centura Wealth Advisory | PKF Accounting San Diego | Email Derek Myron |  Email Curt Welker

SPECIAL UPDATE: COVID-19, PART 2

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In this follow-up COVID-19 episode, we expand on actions business owners should be taking in response to the  COVID-19 economic shut down, and follow up on some previously shared information. As the circumstances are constantly changing, we want our clients and the community to be well informed.

Dan Yates, CEO of Endeavor Bank, returns for part 2 of our COVID-19 special update. Dan provides advice and an update for business owners regarding the Paycheck Protection Program loans, how to effectively utilize the loan, plus how to best optimize for loan forgiveness and more.

Listen in for these important updates regarding this rapidly developing situation and key advice for business owners. 

Resources: Centura Wealth Advisory | Jonathan Freeman LinkedIn | Endeavor Bank | Dan Yates LinkedIn

Episode 4 — Harnessing the General Power of Appointment for Tax Planning — With David Gebhardt, Esq.

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Centura Wealth Advisory believes in sourcing and vetting new strategies that complement traditional money management, allowing the firm to bring only the best value-added solutions to clients. To do so, they often bring in amazing people who share their vision can help clients achieve the best results.

Today, Kyle Malmstrom returns with special guest David Gebhardt of Centara Legal Group. Together, they discuss how they help clients save estate taxes with some extraordinary strategies using the general power of appointment.

In this episode, you’ll learn:

  • What the general power of appointment is and why it was introduced
  • Ways Centura Wealth Advisory gives clients greater flexibility with their estate planning
  • How the power of appointment can impact your tax planning
  • When and why you would use a power of appointment
  • And more!

Tune in now to learn how to use the power of appointment to help you Liberate your wealth!

Resources: Centura Wealth Advisory | Centara Legal Group

SPECIAL UPDATE: COVID-19

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In this special episode, we share updates on how we are responding to the COVID-19 situation, how we’re assisting our clients, and what actions we’re advising investors to take during this time of uncertainty. 

Derek Myron of Centura Wealth Advisory speaks with Dan Yates CEO of Endeavor Bank.  Dan shares updates on the ever-evolving processes for the distribution of the SBA’s Paycheck Protection Program funding, from the application process to the timely importance of requesting your loan forgiveness. 

Tune in now to learn how the banks and government are working together in this time of need to keep the small businesses of America afloat.

Resources: Centura Wealth Advisory | Endeavor Bank

Episode 3 — Amp Up Your Financial Planning with CLATs (Charitable Lead Annuity Trusts)

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While many are unfamiliar with Charitable Lead Annuity Trusts (CLATs), those who have heard of this financial tool typically see it as a means to fulfill their philanthropic or estate planning needs. 

But Centura Wealth Advisory sees CLATs as a tool that can offer so much more.

Today, Derek Myron joins Centura’s director of planning Sean Clark to explore the world of CLATs and the unique ways they are used at Centura to help clients also solve their income tax planning and retirement planning issues.

In this episode, you’ll learn:

  • How CLATs are structured and how they work
  • The different kind of CLATs available and what they’re useful for
  • How Centura utilizes grantor CLATs
  • Examples of how CLATs have helped Centura clients realize their financial goals
  • And more!

Tune in now to learn all about CLATs and how they can help you liberate your wealth!

Resources:  Centura Wealth Advisory | Doing Good By Doing Well White Paper

Episode 2 — Meet Centura Wealth Advisory’s David Cariani, CFA, CFP®

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Centura Wealth Advisory believes in going above and beyond traditional money management to bring only the best value-added solutions to clients. To do so, they’ve brought on amazing team members who share their vision of what it means to have Liberated Wealth™.

Today, you’ll meet one of those team members, Centura’s co-chief investment officer David Cariani, CFA, CFP®. In this episode, get to know all about David and what drives him to help clients have the best planning experience — and why he’s such a good fit for the Centura team.

In this episode, you’ll learn:

  • Three key finance lessons David learned while growing up
  • Why David wants to maximize the value that families derive from their wealth
  • David’s proudest professional achievement
  • Why Centura’s team stands out from other firms
  • And more!

Tune in now to learn about David Cariani and what he brings to the table at Centura Wealth Advisory!

Resources:  Centura Wealth Advisory

Episode 1 — Introducing the Live Life Liberated Podcast

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Centura Wealth Advisory is pleased to introduce the Live Life Liberated Podcast!

In this inaugural episode of the series, founding managing directors, Derek Myron and Kyle Malmstrom, introduce Centura Wealth Advisory and how they help clients liberate their wealth with planning, precision, and purpose.

In this episode, you’ll learn:

  • Who Centura Wealth Advisory serves (and how they help!)
  • How client education lends into Centura’s planning process 
  • Who is on the Centura Wealth Advisory team
  • About Derek and Kyle and who they are in and out of the office
  • And more!

Listen in now to learn about Centura Wealth Advisory and find out what you can expect to hear in upcoming episodes!

Resources:  Centura Wealth Advisory