Category Archives: Financial

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


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Centura Client Experience from the View of a Retired Certified Public Accountant (Ep. 76)

Krista Schmitt, a retired CPA, has spent nearly 30 years working for a Fortune-500 company in the area of accounting and financial information systems.

Despite her financial background, she knew she wanted to lean on an expert and decided to work with Centura Wealth Advisory (Centura) and has been a client of Derek Myron, Managing Director, for nearly two decades!

In this episode, Derek interviews Krista about her experience as Centura’s client moving through the Liberated Wealth® Process.

Derek and Krista discuss:

  • Why Krista started to feel that investing only in a 401(k) wasn’t enough
  • Her exposure to alternative investments as Centura’s client (and how it impacted her portfolio)
  • The benefits of working with a well-coordinated and trusted team of professionals
  • The best place to start if you do not have a team of advisors yet
  • And more


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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.

Collaboration in Financial Services: How One Plus One Can Deliver Exponential Results with Tom Oliveira (Ep. 75)

If you’re a financial advisor, you know that the industry can be tough to navigate alone. The key to growth lies in collaboration with fellow professionals.

Collaboration not only paves the way for accelerated growth, but it can also improve your client service!

In this episode, Derek Myron speaks with Tom Oliveira, Wealth Advisor at Oliveira Wealth, LLC, about how collaboration in financial services can lead to exponential results.

Derek and Tom discuss:

  • Tom’s experience of collaborating with Centura Wealth Advisory on a complex case
  • How collaboration can lead to life-changing results for both firms
  • The scarcity vs. abundance mentality and the importance of trust and transparency
  • What it’s like to participate in our Elite Advisor Collaboration Program (EACP)
  • And more


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About Our Guest:

Tom began his career in 1994 with an advisory position at Northwestern Mutual.  He helped clients with investments, risk management, retirement income, business and estate planning. In 2006, with a desire to offer his clientele premier wealth management, he started Oliveira Wealth, LLC, a SEC registered RIA to provide customized investment and estate services to high- net worth families and businesses. Oliveira Wealth prides itself on creative tax management strategies, tax favored retirement planning and “outside the box” concepts. He graduated from CSU, Stanislaus with a degree in Finance.  He has achieved industry designations of CLU, ChFC, CASL and RICP.  He enjoys playing pickleball in his spare time.

Private Fiduciaries and Their Role in Estate Planning with David Stapleton (Ep. 74)

Private fiduciaries can play a critical role in managing and protecting the assets of their clients. They also help ensure that their clients’ wishes are carried out after they are gone and their assets reach their desired beneficiaries.

In this episode, Derek Myron speaks with David Stapleton, President of Stapleton Group, Inc., about private fiduciaries, their role in managing assets and estates, and the benefits they can provide to individuals and families.

Derek and David discuss:

  • Services and benefits offered by private fiduciaries
  • How private fiduciaries differ from trust banks
  • The pros and cons of choosing family members to act as your trustee
  • Real-world examples of what it’s like to work with a private fiduciary
  • And more

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About Our Guest:

David P. Stapleton, a nationally-recognized federal receiver, trustee and restructuring expert, resolves complex problems caused by non-performing commercial loans and shareholder disputes.  In representing creditors, business owners and legal counsel, David quickly identifies the obstacles between the parties involved and implements actions to overcome impasses.  His expertise spans receiverships; assignments for the benefit of creditors (ABCs); bankruptcy plan administration and liquidations; federal equity receiverships; and, financial advisory.

Beyond Stocks and Bonds: Exploring Private Credit and Direct Lending With Philip Hasbrouck (Ep. 73)

High-interest rates have caused both stocks and bonds to perform poorly in recent months.

However, looking beyond stocks and bonds, private credit and direct lending have emerged as particularly attractive options for those seeking higher yields and lower volatility.

In this episode, Chris Osmond speaks with Philip Hasbrouck, Senior Managing Director and Co-Head of Cliffwater’s asset management business. Together, they simplify private credit and direct lending, discussing their benefits, risks, and relevance in the current environment.

Chris and Philip discuss:

  • Cliffwater’s growth in the alternative investment space to over $10 billion in AUM
  • How private credit can serve as a hedge against rising interest rates
  • Key risks associated with direct lending (compared to traditional corporate bonds)
  • Interval Funds vs. BDCs(Business Development Companies) — what you need to know as an investor
  • And more

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About Our Guest:

Philip Hasbrouck is the co-head of Cliffwater’s asset management business. In this role, Philip leads the firm’s asset management distribution efforts and is involved with product development and positioning, business development, and managing client relationships. Prior to joining Cliffwater in 2018, Philip held various positions with CAIS, TCW Group, and J.P. Morgan. He earned a BS in Commerce and Finance from Santa Clara University.

How To Navigate International Tax Planning With Connor Southwell (Ep. 72)

Whether you are a U.S. citizen with international sources of income or a foreign national conducting business in the U.S., it is important to understand how international taxation works so that you do not end up overpaying in taxes.

In this episode, Kyle Malmstrom speaks with Connor Southwell, Director of Citrin Cooperman’s International Taxation Services Practice, about how to effectively navigate international tax planning.

Kyle and Connor discuss:

  • Key factors that can affect your “worldwide income tax”
  • How inbound and outbound tax planning works in the U.S.
  • The impact of various tax laws on U.S. citizens, green card holders, resident aliens, and non-resident aliens
  • How business owners can leverage international treaties to optimize their tax situation
  • And more

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About Our Guest:

Connor Southwell is a director in the firm’s International Taxation Services Practice. He has over a decade of experience advising high net worth individuals and closely held businesses in international tax planning and compliance.

Connor works with both U.S. nationals and business entities with activities in foreign jurisdictions, and nonresidential individuals and companies that seek to establish a presence and economic nexus to the U.S. His specialties include the subpart F and GILTI regimes, foreign tax credit planning, FATCA compliance, and the analysis and application of U.S. and OECD model income tax treaties.

Bringing Exponential Value to Clients With the Elite Advisor Collaboration Program (Ep. 71)

When financial advisors collaborate with fellow professionals (EPAs, CPAs, other advisors, etc.), it helps them improve their client service and simultaneously accelerate their own growth.

This is the rationale behind Centura Wealth Advisory’s Elite Advisor Collaboration Program (EACP), where radically transparency is the cornerstone.

In this episode, Jonathan Freeman and Derek Myron explain what EACP entails and how it helps advisors effectively serve ultra-high-net-worth clients.

Jonathan and Derek discuss:

  • The importance of collaboration within the financial services industry
  • What type of advisors are best suited for the Elite Advisor Collaboration Program
  • Five key pillars of serving ultra-high-net-worth clients
  • How advisors can leverage EACP for serving prospects
  • And more


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Picking The Right Pass-Through Entity For Your Business With Chuck Levun, JD, CPA (Ep. 70)

Pass-through entities are complex, but it’s important to pick the one that’s best for your business needs from the get-go.

In this episode, Kyle Malmstrom speaks with Chuck Levun, a partner at Levun, Goodman & Cohen, LLP, about pass-through entities today. They explain what pass-through entities are, talk about the pros and cons of S corporations, and provide a couple of cautions.

Chuck discusses:

  • How to use partnerships/LLCs to work around the tax constraints of S corporations in a tax-free manner
  • Use of partnership/LLC agreements and shareholder agreements to cover the common business and economic issues between the owners
  • Tax limitations of S corporations compared to partnership/LLCs
  • IRS updates
  • And more

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About Our Guest:

Charles R. Levun, JD, CPA, is a partner in the Chicago-area law firm of Levun, Goodman & Cohen, LLP. He is also the consultant to the CCH Partnership Tax Planning and Practice Guide, for which he was the co-author of the monthly “Partner’s Perspective” column for its entire term of publication (1987-2020), and was an Adjunct Professor of Law at the Illinois Institute of Technology Chicago Kent Graduate Tax Program (1985-2019 program termination) and Editor-in-Chief of the Journal of Passthrough Entities for its entire term of publication (1998-2019). Mr. Levun received a JD from the University of Chicago Law School and a BS in Accounting from the University of Illinois. He is a past chair of the Partnerships and LLCs Committee of the American Bar Association’s Section of Taxation, the Chicago Bar Association’s Federal Taxation Committee and the Federal Taxation Section Council of the Illinois State Bar Association, and is a Fellow and past Regent in the American College of Tax Counsel. Mr. Levun has been chair of the faculty and co-sponsor of the Partnership, LLC & S Corporation Tax Planning Forum and the “Fundamentals of Flow-Through” Tax Seminar since their inception.

Centura Client Experience from the View of a Lifelong Entrepreneur and Business Owner (Ep. 69)

After moving from China to the US in 1989 to pursue his Ph.D. in psychology at UCSD, Tony Chen transitioned from an academic in post-doctorate studies to business — becoming a lifelong entrepreneur and business owner.

Fast forward to 2019, when Tony considered exiting his business and became a client of Matt Griffith, CFP®, Senior Wealth Advisor at Centura Wealth Advisory (Centura).

In this episode, Matt interviews Tony about his experience as Centura’s client moving through the Liberated Wealth Process®.

Matt and Tony discuss:

  • Tony’s personal and professional background as a lifelong entrepreneur
  • What pre- and post-LOI planning looked like for Tony’s business sale
  • The importance of having a professional team in place
  • How Centura’s team guided Tony through wealth management (including alternative investments)
  • Tony’s advice for business owners contemplating a future business sale
  • And more


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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.

How To Cut Your Tax Bill by Navigating the Cap on SALT Deductions (Ep. 68)

In 2017, the state and local tax (SALT) deduction was capped. This severely impacted the taxes for many people, especially the high-income earners in high-income-tax states.

In this episode, Roby Kotcamp and Derek Myron talk about the provisions that many states are offering, including California, to help taxpayers minimize the impact of the SALT deduction limit.

Roby and Derek discuss:

  • The evolution of SALT deductions — and the latest changes expected to stay until 2026
  • What type of business owners can benefit most from the deduction
  • Key deadlines you should be aware of to take advantage of the deduction in 2023
  • How Centura works closely with CPAs to help clients navigate the SALT deduction
  • And more


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