Advance Your Wealth With Homer Smith

With so many industries flooded with competition, it can be difficult for business owners to stand out among the competition!

On the latest installment of Advance Your Wealth, we're pleased to welcome Chris Smith, Founder of Campfire Effect, for a great conversation surrounding differentiation through the power of storytelling.

At Campfire Effect, Chris and his team believe that your story and your message are the most powerful things you have to grow and scale your business. In this episode, Chris will walk through some of his teachings and explain how this can be leveraged to enhance your business' future efforts.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:50 - Do you feel like you're the best kept secret in your industry?

2:30 - Welcoming Chris onto the show

3:00 - Chris' background and cowboy storytelling

4:50 - What does it mean to be preeminent?

7:30 - What changes for your business when you begin focusing on being preeminent?

10:30 - How Chris's work impacts business owners specifically

13:29 - Important questions business owners should be asking themselves

17:35 - How to reshape your identity

21:00 - How this new identity trickles down through your organization

25:00 - How to measure the ROI of Chris's work within your business

29:29 - Chris's work with successful families in "Family Brand"

34:55 - Chris looking like Ryan Reynolds

36:20 - Where to find Chris and his organizations online

38:00 - Closing remarks

Connect with Homer Smith:

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On the latest episode of Advance Your Wealth, we're pleased to welcome Tommy Ragsdale, Vice President of Strategic Development for 360 Privacy, for a great conversation on the various cyber threats that individuals and businesses are exposed to in today's day and age.

360 Privacy, a veteran founded, owned, and operated LLC based out of Nashville, TN, is comprised of members from the Special Operation Forces, Intelligence Community, and technology experts whose mission is to protect the digital identity, reputation, and security of high-profile executives, athletes, and high net worth families.

By removing personally identifiable information from data brokers websites on the open web, conducting daily monitoring to prevent data repopulation, and securing personal technology infrastructure (routers, iPads, iPhones, smart thermostats, etc.), 360 Privacy keeps their clients' information out of the hands of sophisticated threat actors and fraudsters.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:19 - The cyber risks we're exposed to are now at the forefront of conversation

2:15 - Background on 360 Privacy and how Tommy landed in cybersecurity

3:50 - An overview on digital privacy and the main threats you need protection from

8:23 - How 360 Privacy reduces your digital information that's out there

9:50 - The Dark Web and how it functions

14:15 - The level of protection and service you get from 360 Privacy versus Lifelock

17:23 - There is no "easy button" for cybersecurity

19:29 - Cybersecurity packages included within insurance policies

22:05 - Stories of 360 Privacy helping some high-profile clients, like Ronnie Dunn

26:55 - Easy tips you can begin implementing to strengthen your cybersecurity efforts

29:39 - How you can get in touch with Tommy and 360 Privacy

31:32 - Closing remarks

Connect with Homer Smith:

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Many business owners are always looking to motivate their employees, generate better results and save themselves some money in taxes.

On the latest installment of Advance Your Wealth, we're examining a tool that can potentially do that and more for your business. It's a retirement plan and succession tool called an Employee Stock Option Plan, or ESOP.

Sit back, relax, and enjoy another enlightening conversation surrounding a strategy that is bound to leave you with some considerations for your own business.

Timecodes:

0:06 - Introduction and overview on the topic of the day

2:00 - Why this type of retirement plan is one that business owners should be considering

3:42 - How an ESOP functions for a business and its employees

5:12 - The key differentiating factors within ESOPs

6:40 - The advantages business owners see when using ESOPs

8:55 - How an ESOP can benefit a business as an entity

10:38 - How an ESOP can assist within the succession planning efforts for business owners

12:36 - Questions that business owners should be asking themselves

14:35 - The first step you should be taking if you're interested in implementing an ESOP

16:33 - How you can get in touch with Homer and his team

17:30 - Closing remarks

Connect with Homer Smith:

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If you’ve built and grown a family business over time, there’s a very good chance that you’d like to have your heirs take over the company at some point down the road—or maybe more like around the corner, if you’re ready to move on.

But are you and your business’s potential future owners prepared for that transition and set up for success?

In the latest episode of Advance Your Wealth, we discuss the importance of the communication in the family business transition planning process and some of the issues that need to be addressed to increase the likelihood of a successful transition.

Timecodes:

0:06 - Introduction and overview on the topic of the day

2:38 - The overall importance of business transition planning

4:37 - The family planning element is extremely important within this conversation

6:19 - Where a plan can fall apart along the way

8:03 - The family relationships are at the crux of a proper plan

10:00 - How a family business should approach developing a thorough succession plan

11:27 - Generational family wealth and keeping businesses in the family

13:12 - What's the first step in getting this process off the ground?

16:41 - How to get in touch with Homer's team for future discussions

19:01 - Closing remarks

Connect with Homer Smith:

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People are living longer these days, which means that our retirement planning has to adapt accordingly to meet those needs. While living longer gives you more time to do the things you really love, it also means you have to financially plan for that longer lifetime.

In the latest installment of Advance Your Wealth, we're excited to explore the topic of concierge medicine and longevity planning with Dr. Daniel Carlin, Founder & CEO of WorldClinic.

This episode is packed with beneficial information for your wealth and your health!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:40 - Welcoming Dr. Dan to the show

3:00 - Overview on Dr. Dan's background and approach to concierge medicine

6:40 - How affluent families are using concierge medicine

11:06 - You can't make presumptive diagnosis

15:48 - Example of a wealthy couple utilizing concierge medicine

21:08 - The access to your health professional is second to none

26:00 - Longevity planning and what this means for your wealth

31:47 - The traditional healthcare system

35:00 - How you can get in touch with Dr. Dan and WorldClinic

41:33 - Managing injured workers

45:00 - How you can contact Homer's team for wealth management concerns

47:00 - Closing remarks

Connect with Homer Smith:

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When it comes to managing wealth, it’s pretty rare to just stumble into success. We find the most successful individuals and families employ a specific process that is designed to anticipate the challenges they’ll face and achieve the outcomes they most want.

On the latest installment of Advance Your Wealth, we’re exploring what some advisors call the virtuous cycle and how you can use it to power the pursuit of better results in your own financial life.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:56 - Why investors should be implementing a process

3:23 - The particular approach utilized at Konvergent Wealth Partners

4:56 - What the discovery process should entail

6:30 - A deep dive on the total client profile

7:45 - Developing a professional network

9:21 - Scenario thinking and where this comes into play

11:10 - Finding the right path for each client

13:01 - The client's experience in working with you

16:00 - How to get in touch with Homer and his team

17:00 - Closing remarks

Connect with Homer Smith:

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When family wealth gets passed on to the next generation, too often that wealth tends to shrink instead of grow.

On the latest installment of Advance Your Wealth, Homer examines how you can help your loved ones prepare to become good financial stewards of family wealth before the day comes when their bottom line suddenly gets a lot bigger!

Join us for another enlightening conversation that features strategies and solutions that Homer is utilizing with his clients at Konvergent Wealth Partners. Enjoy!

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:47 - Should parents be worried about their heirs handling their money?

3:00 - Homer's advice to clients who wish to avoid becoming another bad statistic

7:25 - How you should be evaluating your wealth manager's skillset

9:00 - Today's heirs have many goals and it's important to consider them

10:30 - Educating heirs that are planning to take on the family business

14:08 - You don't have to be passing down significant wealth for these efforts to take place

15:36 - The best way to get in touch with Homer's team to discuss you're unique situation

16:50 - Closing remarks

Connect with Homer Smith:

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On the latest installment of Advance Your Wealth, we’re going to examine a challenge that many parents face: raising a child with special needs.

There are a number of financial planning strategies and solutions that can help parents navigate a path through the financial uncertainty that comes with raising a child with special needs. Listen as Homer shares his own personal experiences with this topic and the various solutions available to help parents along the way.

Timecodes:

0:06 - Introduction and overview on the topic of the day

2:32 - The challenges that arise for parents who have a special needs child

4:19 - The various expenses that arise

5:30 - The need for long-term financial planning is paramount

7:56 - Government assistance that is available for these cases

9:00 - The ABLE account and its value

12:50 - There are a number of options available

14:25 - How you can get in touch with Homer and his team to discuss this topic further

15:31 - Closing remarks

Connect with Homer Smith:

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With so many changes in the world, and perhaps in your own family, a trust you’ve set up to achieve your financial goals could be out of date even if it’s just a few years old.

On the latest episode of Advance Your Wealth, we’re examining how to size up the current status of a trust to see whether it’s still on track, so you can decide if any changes are appropriate.

Sit back, relax, and enjoy another thought-provoking conversation that Homer routinely discusses with his clients at Konvergent Wealth Partners.

Timecodes:

0:06 - Introduction and overview on the topic of the day

1:34 - Setting up your trust is only the first step

2:32 - Why might someone need to examine their trust?

5:20 - Secondary issues to consider when it comes to reviewing your trust

6:38 - Mistakes that people typically make when it comes to trusts

7:52 - The next steps once a trust has been set up

10:00 - What a stress test could uncover when examining a trust

11:57 - The importance of working with a network of professionals when reviewing a trust

13:50 - How you can get in touch with Homer and his team

15:03 - Closing remarks

Connect with Homer Smith:

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If you are like many business owners, you’re looking out for more than just the financial health of your company. You also want to take care of your family and loved ones by providing for them and setting them up for rewarding lives of their own.

In the latest installment of Advance Your Wealth, Homer and Ryan are exploring how proactive estate planning can help you pursue these goals and build an amazing life of significance.

Too often estate plans can become outdated. Listen as we showcase the steps you can take to ensure your plan is current and capable of supporting you and your goals.

Timecodes:

0:07 - Introduction and overview on the topic of the day

2:15 - A high-level overview on estate plans and their role with entrepreneurs

4:05 - Most people have a plan in place, but they are often very outdated

6:50 - How effective an outdated plan can be

7:49 - Examples of how an outdated plan caused issues and financial hardship for an entrepreneur

9:07 - The first steps you should be taking to update your estate plan

11:00 - The inner-workings your estate plan should function and assist you

12:56 - Tips or warnings for someone going through the estate planning process

14:30 - How you can get in touch with the team at Konvergent Wealth Partners

17:03 - Closing remarks

Connect with Homer Smith:

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