Month: May 2024

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From Planning to Investments: A Deep Dive Into Our Services (Ep. 154)

From Planning to Investments: A Deep Dive Into Our Services (Ep. 154)

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Beyond managing your investments and portfolio, have you ever wondered what else financial advisors do?

Understanding the full scope of financial advisory services is essential to maximizing the benefits of your financial plan.

In this enlightening episode of Life Unlimited, host Larry Heller, CFP®, CDFA® explores the multifaceted role of financial advisors. He addresses common misconceptions and emphasizes that effective financial advising extends well beyond investment decisions.This episode provides a deep dive into how we create personalized financial plans for clients, addressing all aspects of their financial lives to ensure future preparedness. Tune in to learn how we can help you achieve financial security and peace of mind through our comprehensive financial planning and detailed strategies.

Key Points Covered:

  • Larry’s dedication to educating clients and alleviating financial anxieties
  • Clarifying the comprehensive role of financial advisors beyond just investments
  • The critical importance of financial planning before making investment decisions
  • Detailed financial planning processes: goals, time horizons, and financial needs
  • Components of financial planning: cash flow analysis, risk management, tax planning, investment management, estate planning, and retirement planning
  • Differentiating traditional investments (stocks, bonds, mutual funds) from alternative investments (private equity, private credit)
  • The importance of regular financial monitoring to adapt to life changes
  • Addressing client concerns: inheritances, safe retirement strategies, and account consolidation
  • Highlighting the transparency of fee structures and the importance of fiduciary duty
  • And More!

 

Resources:

► Services Triangle: https://acrobat.adobe.com/id/urn:aaid:sc:VA6C2:cfe5a4d5-2384-4a62-b76a-2921735e4cbf

► Our Approach: https://docs.google.com/document/d/1Qp3B-6EQsTptfRZT5792CIVvvo9yrXKrwBVLFZvJBj8/edit?usp=sharing

►  Is Your Portfolio Missing Out? With Alona Gornick [Ep. 143]: https://hellerwealthmanagement.com/is-your-portfolio-missing-out-the-rise-of-private-credit-with-alona-gornick-ep-143/

Connect with Larry Heller: 

00:00 Introduction to Life Unlimited Podcast

00:20 Reflecting on 150 Episodes

00:33 Understanding Financial Advisory Services

01:59 The Importance of Financial Planning

03:18 Diving into Investment Strategies

13:13 Exploring Alternative Investments

16:23 Who We Work With and Our Fee Structure

20:35 The Fiduciary Standard Explained

22:06 Conclusion and Contact Information

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Financial Health for Your Business: Top Mistakes to Steer Clear Of with Tricia M. Taitt (Ep. 153)

Financial Health for Your Business: Top Mistakes to Steer Clear Of with Tricia M. Taitt (Ep. 153)

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Financial missteps can derail even the most promising businesses. 

In this impactful episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, is joined by Tricia M. Taitt, CEO of Fincore and skilled fractional CFO. They dive into the top five financial mistakes that businesses often make and offer practical advice on how to avoid them. Focused on strategic financial management, this episode is especially beneficial for women entrepreneurs seeking to strengthen their cash flow management and overall business performance.

Key Points Covered:

  • Understanding the distinct roles of fractional CFOs, CPAs, and bookkeepers
  • The critical importance of strategic financial management in fostering business growth
  • A deep dive into essential financial ratios and metrics for maintaining healthy business growth
  • Case study: How suboptimal product performance can overshadow substantial sales
  • Effective cash flow management strategies and the risks of inadequate financial policies
  • The importance of budgeting and forecasting in strategic business planning
  • Strategies to prevent fraud through effective separation of duties
  • Insights from Tricia’s book, “Dancing with Numbers,” making financial management approachable through dance
  • Plus, plenty more tips for smart financial decisions!

 

Connect with Tricia M. Taitt:

Connect with Larry Heller: 

 

About Our Guest:

Tricia M. Taitt has been an impactful figure in financial management, particularly for women-led businesses, leveraging her expertise as a fractional CFO to guide companies through growth and transitions. Her book “Dancing with Numbers” creatively blends her finance expertise with her passion for dance, making financial concepts accessible and engaging.

 

00:00 Introduction to Life Unlimited Podcast

00:37 Meet Tricia Tate: Empowering Small Business Financial Health

01:32 Understanding the Role of a Fractional CFO

07:13 Top Five Financial Mistakes Businesses Make

07:29 Deep Dive into Cash Flow Management

10:49 The Importance of Tracking Business Performance

15:45 Systems, Policies, and Procedures for Business Success

20:17 Planning for the Future: Budgets and Forecasts

24:15 Leveraging Financial Expertise for Business Growth

26:00 Tricia Tate’s Book: Dancing with Numbers

30:57 Closing Thoughts and Contact Information