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

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

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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

Resources:

Connect With Matt Griffith:

Connect With Centura Wealth Advisory:

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)

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

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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

Resources:

Connect With Roby Kotcamp:

Connect With Derek Myron:

Connect With Centura Wealth Advisory:
Section 1202: How Business Owners Can Save Millions of Dollars in Taxes (Ep. 67)

Section 1202: How Business Owners Can Save Millions of Dollars in Taxes (Ep. 67)

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Section 1202 of the IRS code can potentially save eligible business owners millions of dollars in taxes. However, it is an underutilized section as few business owners know how to successfully implement this strategy.

In this episode, Roby Kotcamp and Kyle Malmstrom explain what Section 1202 entails, the primary eligibility criteria for QSBS (qualified small business stock) transactions, and the major tax benefits involved in the process.

Roby and Kyle discuss:

  • Three types of business owners that can benefit most from QSBS transactions
  • Important dates that affect the extent of your tax exemption
  • How to minimize your federal and state income tax as well as your estate tax
  • Why you should plan at least a year in advance for QSBS transactions
  • And more

Connect With Roby Kotcamp:

Connect With Kyle Malmstrom:

Connect With Centura Wealth Advisory:
What It’s Like To Sell a Business With Our Client Doug Pate (Ep. 62)

What It’s Like To Sell a Business With Our Client Doug Pate (Ep. 62)

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Selling a business is a complex process. You need to tackle several types of taxes. You need to effectively invest the proceeds. Finally, you also need to overcome the emotions of letting go of your business.

In this episode, Kyle Malmstrom interviews Doug Pate, a client of Centura Wealth Advisory (Centura) who recently sold his business, International Surf Ventures Inc., after growing it for 17 years.

Doug discusses:

  • His personal experience of navigating a business exit
  • How CLATs helped him save seven figures in taxes and achieve his charitable goals
  • Why wealth protection is as important as growing your wealth
  • Centura’s involvement in his wealth management (including alternative investments)
  • And more

Resources:

Connect With Doug Pate:

Connect With Centura Wealth Advisory:

About Our Guest:

Doug Pate co-founded ISLE with his best friend, Marc Miller. Doug and Marc share a lifelong passion for the ocean and the sports that surround it. In their first four years of business, they sold surfboards online. At the time, there was no direct-to-consumer surfboard company, and by default, they became the industry’s pioneers. In 2008, they shifted their focus from surfboards to stand up paddle boards as a way to help more people get on the water across the country.

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.
Get To Know Our New Senior Wealth Advisor Seth Meisler (Ep. 53)

Get To Know Our New Senior Wealth Advisor Seth Meisler (Ep. 53)

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Recently, we had a great addition to our team!

In January 2022, Seth Meisler, CFA, CFP®, CPA/PFS, MBA, joined Centura Wealth Advisory as a Senior Wealth Advisor, bringing in 15 years of experience as a financial advisor and Chief Investment Officer.

In this episode, Jonathan Freeman, Chief Operating Officer, interviews Seth about his personal and professional journey. Seth also shares his future plans with the firm and the type of clientele he aims to serve.

Seth discusses:

  • His major personal and philanthropic interests
  • How he fits into Centura Wealth Advisory’s broad bench of professionals
  • The niche markets that he specializes in serving (both nationally and locally)
  • What motivated him to join the team at Centura Wealth Advisory
  • And more

Connect With Seth Meisler:

Book Time with Jonathan Freeman:

Schedule a Call

Connect With Centura Wealth Advisory:

About Our Guest:

Seth Meisler, CFA, CFP®, CPA/PFS, MBA, joined Centura Wealth Advisory in January 2022 as a Senior Wealth Advisor. With 15 years of experience as a financial advisor and Chief Investment Officer, Seth helps clients reach their financial goals by offering strategic financial planning, tax planning, and investment management solutions. Seth is a member of the CFA Institute of Minnesota (CFAMN), the Minnesota Society of  CPAs (MNCPA), the Financial Planning Association of Minnesota (FPAMN), and the American Institute of Certified Public Accountants (AICPA). Seth is also a member of Ed Slott’s Master Elite IRA Advisory Group, where he studies the complexities of IRAs in order to help his clients with tax and distribution strategies. Seth has been published in Marketwatch.com and in Forbes.

 
What It’s Like to Work With Centura Wealth Advisory With Our Client David Pann (Ep. 51)

What It’s Like to Work With Centura Wealth Advisory With Our Client David Pann (Ep. 51)

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One of the goals of this podcast is to help you understand what it’s like to work with Centura Wealth Advisory before you even become a client. 

And who better to talk about the client experience than one of our current clients?

In this episode, Roby Kotcamp interviews our client David Pann, who has held executive positions at major tech companies like Microsoft, Yahoo!, and Netscape, and is currently on the path to retirement. David shares his experience in using Centura Wealth Advisory’s Liberated Wealth® process.

David discusses:

  • How his goals and priorities shifted while advancing his career and accumulating wealth
  • Reasons to bring in professionals instead of managing your own finances
  • How he benefits from Centura Wealth’s holistic, process-driven approach (with examples)
  • His advice to other high-net-worth individuals looking for efficient wealth management
  • And more

Resources:

Connect With David Pann:

Connect With Centura Wealth Advisory:

About Our Guest:

David Pann is a current client of Centura Wealth Advisory. Having been a senior SaaS & global search advertising software executive, David Pann has expertise in R&D, product management, marketing, online marketplace design, & multi-channel field enablement & operations to create scalable solutions & businesses.

 

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.

 
39. Get To Know Our New Senior Wealth Advisor Roby Kotcamp

39. Get To Know Our New Senior Wealth Advisor Roby Kotcamp

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We love to build deep connections with our clients! So, this episode is dedicated to helping you get to know our team a little better.

In this episode, Jonathan Freeman, Chief Operating Officer, introduces you to Centura Wealth Advisory’s new Senior Wealth Advisor Roby Kotcamp, CFP®, PMP®. Roby shares his professional and personal background, his core vision and beliefs, and how he plans to add value to our clients’ wealth management.

Roby discusses:

  • The different industries he has worked in prior to becoming a wealth advisor
  • How he specializes in helping high net worth individuals manage their wealth
  • Why Centura’s team approach offers more holistic planning compared to individual advisors
  • His philanthropic interests
  • And more

Connect With Roby Kotcamp:

Connect With Centura Wealth Advisory:

About Our Guest:

Roby Kotcamp, CFP®, PMP®, joined Centura Wealth Advisory in September 2021 as Senior Wealth Advisor. Roby has a diverse background in financial leadership and general management roles, spanning environmental services, aerospace, and financial consulting in several global locations. For the past dozen years, he has focused on helping accomplished individuals and families reach their financial objectives, including guiding entrepreneurs through purchase, growth, and liquidity events. Roby enjoys drawing on his diverse domain and global leadership experiences to assist clients in complex circumstances to build a wealth plan that enables them to visualize and achieve their highest priorities.

 
38. AB-150: What Is It and How Does It Impact Your Taxes? With Ken Van Damme

38. AB-150: What Is It and How Does It Impact Your Taxes? With Ken Van Damme

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On July 16th, 2021, California governor Gavin Newsom passed Assembly Bill 150. One of the key components of this bill is the Small Business Relief Act, which has the potential to reduce your taxable income.

In this episode, Kyle Malmstrom speaks with Ken Van Damme, tax partner at Ernst and Young, about what the AB-150 entails. They discuss creative strategies to leverage this new law to optimize your individual taxes, while highlighting the various risks involved.

Ken discusses:

  • The eligibility criteria to qualify for AB-150’s tax provisions
  • How you can start preparing for the new tax law until the federal guidelines are released
  • Tips to avoid overpaying in non-refundable taxes
  • The impact of AB-150 on multi-state entities
  • And more

Connect With Kenneth Van Damme:

Connect With Centura Wealth Advisory:

About Our Guest:

Kenneth Van Damme is a California CPA with more than 28 years of tax advisory experience. He is a partner in the San Diego office of Ernst and Young as part of the firm’s Private Client Services group. Prior to rejoining EY in 2018, Ken had co-founded and built a very successful CPA firm in San Diego for 17 years known as RPR Partners. Ken has extensive tax consulting experience with structuring real estate and company transactions as well as income tax and estate tax planning for individuals. He is a member of the American Institute of Certified Public Accountants and has a Bachelor’s degree from Western Michigan University and Masters degree from San Diego State University.
Episode 30 – How Peer Advisory Groups Help You Learn From Fellow Business Leaders –– With Joe Phillips of The BEST CEO Group

Episode 30 – How Peer Advisory Groups Help You Learn From Fellow Business Leaders –– With Joe Phillips of The BEST CEO Group

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When business leaders from different industries come together, it can lead to a diverse set of perspectives that challenge you to think differently, and help you make better decisions. 

In this episode, Derek Myron is joined by Joe Phillips, founder and chairman of The BEST CEO Group. With nearly 23 years of experience in running businesses all over the world, Joe shares how he coaches and mentors several CEOs to improve their leadership skills and business acumen through his highly exclusive peer advisory group.

You will learn:

  • What Joe’s three peer groups are all about – and how they serve CEOs and their key employees
  • How a diverse group of businesses can help you broaden your scope of knowledge
  • Why sharing your issues with fellow executives can be highly impactful
  • What differentiates The BEST CEO Group from other peer advisory groups
  • And more!

Tune in now to learn how you can glean insights from fellow business leaders and enhance your leadership skills!

Resources: Centura Wealth Advisory: (858) 771-9500 | Derek Myron on LinkedIn | Joe Phillips on LinkedIn | The BEST CEO Group | Contact Joe Phillips at: Joe@thebestceogroup.com
Episode 28 – Finding the Right Insurance P&C Coverage for Your Business –– With Pamela Holden of Alliant Insurance Services

Episode 28 – Finding the Right Insurance P&C Coverage for Your Business –– With Pamela Holden of Alliant Insurance Services

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Insurance is a necessary risk management tool, but many business owners struggle with finding the right coverage, carrier, and riders, to meet their unique business.  But when a claim happens, who is on your side to navigate the complex and often misunderstood claims process?

In this episode, Jonathan Freeman is joined by Pamela Holden, Vice President at Alliant Insurance Services. With experience in law, accounting, and insurance, Pamela shares her expert insights on effective risk management strategies to help business owners get the best coverage for their needs.

You will learn:

  • How failing to focus on small details can cost you millions of dollars
  • Why you, as a business owner, should talk directly to the underwriters about your insurance needs
  • Why you should verify that brokers have a variety of subject matter experts on their team
  • Business risks posed by COVID-19 and ways to deal with them
  • And more!

Tune in now to discover best practices to minimize your business risk through insurance!

Resources: Centura Wealth Advisory | Jonathan Freeman on LinkedIn | Pamela Holden on LinkedIn | Contact Pamela: (858) 692-6945 | Email: pam.holden@alliant.com | Alliant Insurance Services, Inc. | Live Life Liberated, Episode 12 – Manage Business Risk with Potential for Financial Upside – With Guest Mark Sims of Captive Alternatives

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