Tag: Risk Management

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Risky Business: The Hidden Risks of Handshake Agreements with Rachel Partain [Ep. 163]

Risky Business: The Hidden Risks of Handshake Agreements with Rachel Partain [Ep. 163]

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Handshake deals might seem convenient, but they could put your business at serious risk. Discover how to protect your company from these hidden dangers and build a reliable foundation.

Larry Heller, CFP®, CDFA®, is joined by Rachel Partain, a leading tax attorney and partner at Forchelli Law, to break down the risks of running a business without formal agreements. 

Whether you’re launching a startup, managing growth, or exploring new partnerships, Rachel provides actionable insights to help you understand the risks of inadequate documentation and strengthen your business with essential agreements and expert legal guidance.

Key Points Covered:

  • The widespread use of handshake agreements and the risks they pose to businesses
  • The impact on business management from operational turmoil caused by unclear leadership succession plans to disputes over roles, voting rights, and profit distribution
  • Barriers to securing loans and attracting investors due to informal business structures
  • Tax complications, such as IRS audits and challenges related to shareholder contributions
  • Legal exposure, including the risk of litigation and potential personal asset vulnerability
  • And much more!

Actionable Takeaway: Assess your current business agreements today and consult a professional to protect yourself against potential financial and legal challenges.

Connect with Rachel Partain:

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About Our Guest:

Rachel L. Partain is a Partner at Forchelli Law concentrating her practice on complex tax advisory and tax controversy services for low to middle-market businesses and high-net-worth individuals. Rachel advises businesses on how to structure transactions in a tax-efficient manner and handles general corporate and transactional matters.

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The Ripple Effect: How Recent Fed Actions Affect your Financial Plan [Ep. 162]

The Ripple Effect: How Recent Fed Actions Affect your Financial Plan [Ep. 162]

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Interest rates may be falling, but your financial strategy doesn’t have to follow. Learn how to stay ahead in today’s ever-changing financial landscape.

Larry Heller, CFP®, CDFA®, breaks down how these shifting rates impact everything from mortgages to retirement plans. Whether you’re buying a home, optimizing investments, or planning for your financial future, Larry offers actionable insights to help you navigate today’s economic landscape. Covering the rise and fall of interest rates and their effects on borrowing, saving, and investing, he provides strategies for adapting your financial plan across asset classes to protect your wealth.

Key Points Covered:

  • The Federal Reserve’s interest rate cut and its broader economic implications
  • How shifting rates impact mortgage costs, housing availability, and borrowing strategies
  • Key adjustments to retirement planning, including withdrawal rates and asset allocation in a low-rate environment
  • Adapting your savings strategy with CDs and treasuries (while considering the current inverted yield curve!)
  • Effective investment approaches across bonds, stocks, and real estate in the face of rate fluctuations
  • Opportunities in private equity and private credit investments as interest rates decrease
  • The importance of a diversified strategy and proactive communication, as emphasized by Heller Wealth Management
  • And much more!

 

Connect with Larry Heller: 

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Corporate Benefits to Cash Management Plans: A Deep Dive Into How We Work with Business Owners (Ep. 156)

Corporate Benefits to Cash Management Plans: A Deep Dive Into How We Work with Business Owners (Ep. 156)

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How can business owners keep their financial strategies effective for long-term success?

In this informative episode of Life Unlimited, host Larry Heller, CFP®, CDFA®, reveals the intricacies of corporate benefits and cash management tailored for business owners. Learn how regularly updating 401k plans, optimizing cash reserves, and leveraging professional networks can alter your business. Obtain actionable insights on attracting and retaining employees, maximizing tax advantages, and implementing successful financial planning strategies.

Key Points Covered:

  • Enhancing employee retention and tax benefits by updating 401k plans
  • Ensuring a robust, tax-advantaged retirement plan to provide the business significant savings while attracting and retaining top talent
  • Simplifying employee investment decisions with model portfolios
  • Optimizing cash management and utilizing high-yield strategies for better returns
  • Saving additional funds through strategic cash balance plans
  • Leveraging a network of experts for comprehensive business support
  • Larry’s hands-on experience and credible advice for business owners
  • And More!

Tune in to transform your business’s financial strategy and achieve long-term success.

 

Resources: 

► Services Triangle

► Our Approach 

Connect with Larry Heller: 

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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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Unlocking Tax Strategies to Optimize Your Retirement (Ep. 152)

Unlocking Tax Strategies to Optimize Your Retirement (Ep. 152)

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Are you effectively using tax strategies to boost your retirement investments?

Explore this insightful episode of the Life Unlimited Podcast featuring Larry Heller, CFP®, CDFA®. Larry delves into strategic tax planning and investment strategies designed to optimize retirement savings both during your working years and in retirement. Drawing from his experience as a former CPA, he underscores the significance of not only what you earn but also what you retain after taxes. Tune in as Larry highlights key strategies like capital gains management, tax loss harvesting, and the advantages of ETFs over mutual funds for tax efficiency. The episode emphasizes the importance of proactive tax planning for a secure and financially efficient retirement.

Larry Discusses:

  • The importance of understanding the advantages of ETFs for minimizing capital gains taxes
  • How and when to implement this strategy to reduce taxes by offsetting gains with losses
  • Insights on deciding which retirement account fits best depending on your current and future tax brackets
  • Maximizing tax benefits by converting during lower-income years, benefiting both the account holder and heirs
  • The necessity for a coordinated approach between financial advisors and tax professionals to optimize retirement strategies
  • And more!

 

Resources: 

Connect with Larry Heller: 

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An Employer’s Guide to 401(k) Plans: A Four-Part Series (Part IV) (Ep. 150)

An Employer’s Guide to 401(k) Plans: A Four-Part Series (Part IV) (Ep. 150)

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Are your 401(k) offerings impacting employee wellness and engagement?

Join Larry Heller, CFP®, CDFA®, in the concluding episode of our four-part series, “An Employer’s Guide to 401k Plans.” This final segment focuses on the broader impact of 401(k) plans in terms of employee well-being and corporate culture. Larry explores how these plans transcend traditional retirement savings and play a pivotal role in fostering financial literacy, engagement, and loyalty among employees.

Larry Discusses:

  • The vital role of 401(k) plans in attracting and retaining talent and the extensive benefits for employers
  • Clarifying contributions, fund choices, and Roth options in 401(k) plans to support informed decision-making
  • Providing easily accessible resources and dedicated support for navigating 401(k) plans effectively
  • The importance of comparing model portfolios with target date funds for diverse financial needs and personalized investment approaches
  • The need for showcasing an employer’s commitment to employee well-being through comprehensive financial wellness programs
  • The necessity of continuous communication and regular educational meetings to engage employees in their 401(k) plans
  • And much more!

 

Resources: 

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An Employer’s Guide to 401k Plans: A Four-Part Series (Part III) (Ep. 148)

An Employer’s Guide to 401k Plans: A Four-Part Series (Part III) (Ep. 148)

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Are you managing your 401(k) effectively?

Dive into the intricate world of 401(k) investment strategies with Larry Heller, CFP®, CDFA®, in this informative third installment of the “Employer’s Guide to 401k Plans“ series. This episode delves into crucial aspects such as fiduciary duties, investment selection, and fund diversity, offering valuable insights for trustees and plan participants alike.

Larry Discusses:

  • Emphasis on the vital role of fiduciary duties within 401(k) plans, spotlighting the frequently neglected responsibilities that plan participants hold as trustees
  • Detailed exploration of various investment types in 401(k) plans, including mutual funds and ETFs, highlighting those with clear objectives and transparency
  • The superior benefits of model portfolios compared to target date funds, tailored to diverse risk tolerances and investment goals
  • Introducing features like automatic rebalancing to aid participants in maintaining their desired asset allocation over time
  • The critical practice of regular benchmarking in 401k plans to ensure fee competitiveness and to raise awareness of hidden costs
  • And much more!

 

Resources: 

Connect with Larry Heller: 

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An Employer’s Guide to 401k Plans: A Four-Part Series (Part II)

An Employer’s Guide to 401k Plans: A Four-Part Series (Part II)

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Are you confident in your mastery of 401k fiduciary responsibilities?

Continuing the engaging “Employer’s Guide to 401k Plans“ series with Larry Heller, CFP®, CDFA®, this second installment dives deeper into the crucial topic of 401(k) fiduciary governance. Building on the foundational knowledge from Part I, Larry guides listeners through the intricate responsibilities and best practices essential for effectively managing a 401(k) plan.

Larry Discusses:

  • The broad scope of fiduciary responsibility, extending beyond plan sponsors to key employees involved in plan management
  • The crucial role of adhering to the plan document as the governing ‘bible’ of the plan
  • Common pitfalls in 401(k) management, such as failing to timely notify eligible employees, and the significant consequences of these oversights
  • The pivotal role of 401(k) plans in employee retention and attraction, highlighting their importance as a core employee benefit
  • Investment oversight essentials, including the need for diversification, low costs, regular reviews, and the advantages of model portfolios
  • The necessity of regular benchmarking and impartiality in selecting service providers
  • The importance of education and effective communication about the plan to employees
  • And much more!

 

Resources: 

Connect with Larry Heller: