Category: Financial Planning

Keys to Building an Amazing Corporate Culture and a Rockstar Team (Ep. 86)

Keys to Building an Amazing Corporate Culture and a Rockstar Team (Ep. 86)

With companies shifting to a hybrid work environment, it has become challenging to maintain a strong corporate culture, attract top talent, and build high-performing teams.

In this episode, Derek Myron, CEO, and Jonathan Freeman, COO, share actionable ideas to build a thriving corporate culture. They tap into best practices that have helped Centura Wealth Advisory (Centura) enhance communication, foster trust, and improve team morale.

Derek and Jonathan discuss:

  • The challenges of expanding a team across the country
  • Centura’s tried-and-tested team building ideas (Waffle Wednesdays, the 48-hour rule, and more!)
  • How to improve communication and trust at every level of the organization
  • What it takes to become an employer of choice
  • And more

Resources:

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How Centura Creates Value for High-Net-Worth Individuals (Ep. 85)

How Centura Creates Value for High-Net-Worth Individuals (Ep. 85)

As your wealth grows, your financial planning needs become significantly more complex.

At Centura Wealth Advisory (Centura), we specialize in serving high-net-worth and ultra-high-net-worth individuals, helping them lighten the burdens of wealth!

In this episode, Kyle Malmstrom and Sean Clark, MBA, talk about Centura’s Liberated Wealth® process, including an overview of our sophisticated wealth management and tax planning strategies.

Kyle and Sean discuss:

  • Why Centura differs from other wealth management firms
  • How to move the needle with above-the-line planning (income tax, wealth transfer, and balance sheet optimization)
  • Centura’s rigorous due diligence process
  • How Centura taps into 50+ planning strategies to find the right solution for clients
  • And more

Resources:

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Delivering Exponential Client Value via Joint Casework with Gregg Gottlieb (Ep. 84)

Delivering Exponential Client Value via Joint Casework with Gregg Gottlieb (Ep. 84)

Advisors, are you seeking the secret to delivering unparalleled value to your high-net-worth clients?

In a world where wealth advisory excellence is defined by innovation and collaboration, you might want to explore the power of joint casework.

In this episode, Samantha Lawrence, CFP®, Associate Advisor, interviews Gregg Gottlieb, CFP®, co-founder of Regal Wealth Advisors, about his experience working with Centura Wealth Advisory (Centura) and its Elite Advisor Collaboration Program (EACP).

Gregg discusses:

  • The importance of collaboration in the wealth management industry
  • Why he found the joint casework experience financially and professionally rewarding
  • An example of how his partnership with Centura benefitted his client
  • How Centura’s radical transparency with its Liberated Wealth® process helped him improve his own practice
  • And more

Resources:

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About Our Guest:

Gregg Gottlieb co-founded Regal Wealth Advisors in 2006 to help create a company dedicated to wealth development, preservation, and transfer to subsequent generations. Gregg has over 20 years of experience in the financial advisory industry developing and helping to implement financial plans for individuals and business owners. He also has specialized experience working with complex life and health insurance matters, strategically integrating them within comprehensive, tailored financial plans.

Gregg earned his undergraduate degree in human resources at Muhlenberg College. He subsequently completed the Certified Financial Planning Program at Fairleigh Dickinson University and earned the CFP® designation. Greg holds life, health, and property and casualty insurance licenses, as well as Series 63, Series 65, and Series 7 securities licenses through LPL Financial.

ING Trusts: How to Minimize State Income Taxes (Ep. 83)

ING Trusts: How to Minimize State Income Taxes (Ep. 83)

There is a wide disparity in tax rates between U.S. states. For example, the top tax rate in California is 13.3%, while South Dakota has 0% state tax on trusts!

However, if you live in a high-income-tax state, you can still benefit from lower tax rates without moving physically.

In this episode, Kyle Malmstrom, Managing Director, and Roby Kotcamp, CFP®, Senior Wealth Advisor, explain how to use an Incomplete Non-Grantor (ING) Trust to minimize state income taxes.

Kyle and Roby discuss:

  • Types of assets suitable for an ING Trust
  • The correct sequence of steps to ensure the ING Trust is set up properly
  • An example showcasing the practical application and scope of an ING Trust
  • Potential pitfalls of the ING Trust strategy
  • Alternative strategies for states where an ING Trust is not possible (E.g., California)
  • And more

Resources:

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The QPRT Strategy: How to Reduce Estate and Gift Taxes (Ep. 82)

The QPRT Strategy: How to Reduce Estate and Gift Taxes (Ep. 82)

While passing on your wealth to future generations, you might want to make it as estate tax-efficient as possible.

If your estate amount exceeds the estate tax exemption limit, a Qualified Personal Residence Trust (QPRT) might be for you.

In this episode, Seth Meisler, CFA, CFP®, CPA/PFS, MBA, Senior Wealth Advisor, and Samantha Lawrence, CFP®, Associate Advisor, discuss how the QPRT strategy can help reduce your wealth transfer taxes.

Seth and Samantha discuss:

  • How a QPRT works and the process for setting it up
  • The major tax benefits involved (estate and gift)
  • Who is the ideal candidate for the QPRT strategy
  • Potential risks related to QPRTs that you should keep in mind
  • And more

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How to Achieve Tax Efficiency With Private Placement Life Insurance With Christopher Hyman (Ep. 81)

How to Achieve Tax Efficiency With Private Placement Life Insurance With Christopher Hyman (Ep. 81)

High-net-worth and ultra-high-net-worth individuals are often focused on protecting and growing their wealth while minimizing taxes. However, not all of their assets generate “tax-efficient” income.

This is where private placement life insurance (PPLI) can come into play.

In this episode, Derek Myron interviews Christopher Hyman, Director of Insurance Solutions at Centura Wealth Advisory. They explain how PPLI serves as a tax-efficient way to grow assets from taxes while offering high flexibility and low fees, as well as providing death benefit protection.

Derek and Chris discuss:

  • How PPLI works and who it is best suited for
  • PPLI’s major tax advantages for high-net-worth individuals (net worth above $10 million)
  • Potential risks in PPLI that investors should know about
  • How PPLI can be highly personalized to meet client-specific needs
  • And more

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About Our Guest:

Chris has been in the financial services industry for over fifteen years, nine of those serving ultra-affluent families and privately held businesses. As Director of Insurance Solutions, Chris is responsible for modeling in-depth customized planning solutions that fit the diverse needs and goals of Centura clients, as well as assisting in the ongoing stewardship of those plans. Before joining Centura, Chris served as the sole Case Design specialist for an advisory member firm of M Financial Group, where he developed life insurance solutions for high net worth clients, geared toward estate planning, tax efficiency, and executive compensation.

Chris earned his Bachelor of Science (B.S.) in Accounting from the University of Delaware. He resides in Wilmington, Delaware with his wife Amanda, and their three children. His primary joy is spending time with family and friends. He also enjoys reading, fitness training, outdoor activities, and traveling to the shore.

Centura Client Experience from the View of a Retired Business Owner (Ep. 80)

Centura Client Experience from the View of a Retired Business Owner (Ep. 80)

Are you thinking about selling your business? Do you feel overwhelmed and unsure about the process?

In this episode, Derek Myron interviews Donovan Weber, who recently sold his business to an international conglomerate. Donovan shares the planning process he went through at Centura Wealth Advisory (Centura) before and after selling his business, the things he discovered along the process and how it helped him achieve his goals.

Donovan discusses:

  • What it’s like to move through Centura’s Liberated Wealth® process
  • How Centura helped him navigate charitable planning and tax efficiency
  • How alternative investments have benefited his overall portfolio
  • His advice for business owners who haven’t considered an exit strategy yet
  • And more

Resources:

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The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.

Private Equity Investment Opportunities in India (2023 Edition) With Manu Rikhye (Ep. 79)

Private Equity Investment Opportunities in India (2023 Edition) With Manu Rikhye (Ep. 79)

With its young population, strong tailwinds, and supportive political regime, India might be the next bright spot for investors.

In this episode, Chris Osmond, Chief Investment Officer speaks with Manu Rikhye, partner at GrowX Venture Management and Merak Ventures, about the Indian investment landscape and how to navigate the risks. Join them to learn about diversifying your portfolio outside of the U.S. markets, especially in private equity.

Chris and Manu discuss:

  • Major trends that are driving private equity investment opportunities in India
  • Sectors in India that are experiencing the most momentum 
  • Increasing interest of US firms in India’s venture capital ecosystem
  • Centura Wealth Advisory’s rigorous approach to due diligence for identifying top-tier asset managers
  • And more

Resources:

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About Our Guest:

An accomplished professional with 16 years of all‐round contribution in financial services, Manu has extensive experience in the offshoring industry and distressed debt management space – with expertise in core business strategy, M&A, and inspirational leadership. A founding member of the Midland Credit Management India Pvt. Ltd, a wholly owned subsidiary of US-based Encore Capital Group, he was responsible for strategy, business plans, budgets, and P&L for the India Debt Recovery Operations for Encore’s US, UK and Australia & New Zealand portfolios. In 2015, Manu led the acquisition of Baycorp, a leading debt purchasing and contingency collections company based in Australia and New Zealand. Prior to Encore, Manu has worked with established brands including Global Vantedge and GE Capital International Services.

Centura Client Experience: Exiting a Business (Ep. 78)

Centura Client Experience: Exiting a Business (Ep. 78)

The sale of a business represents not only the culmination of years of hard work and dedication but also a unique opportunity to amass considerable wealth.

With so much at stake, having a specialized wealth management team in your corner can make a significant difference!

In this episode, Derek Myron speaks with Jimmy Page, who recently sold his business. Jimmy shares his experience of working with Centura Wealth Advisory (Centura) and how it has benefited his wealth management. 

Jimmy discusses:

  • When is the ideal time to start planning your business exit
  • The importance of having a collaborative team of professionals (financial advisors, CPA, estate planning attorneys, etc.)
  • How Centura helped him navigate alternative investments
  • His advice on what to look for in a professional wealth management team
  • And more

Resources:

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The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.

Preparing for Change: How to Adapt to Economic and Tax Legislation Shifts (Ep. 77)

Preparing for Change: How to Adapt to Economic and Tax Legislation Shifts (Ep. 77)

Are you a business owner or high-income executive concerned about recent changes in the economic, political, and tax environment?

In this episode, Kyle Malmstrom and Matt Griffith, CFP®, cover a range of topics, including ways to prepare for a huge liquidity event, tax planning, investment considerations during high interest rates, and an overview of our Liberated Wealth® process.

Kyle and Matt discuss:

  • Key changes in the past 12 months that can impact your wealth
  • Tips for business owners either setting up a new entity or planning their exit
  • What to do if your wealth is tied up in a concentrated stock position
  • The importance of working with a professional advisory team
  • And more

Resources:

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