Day in a Canoe Podcast: Financial Planning, Wealth Management, RIA

In this episode, Nathan and Dan discuss:

• The power of connection

• Gathering gems of wisdom and sharing with others

• Setting goals beyond yourself

• Advice Dan would give to a younger self

Key Takeaways:

• Connection is powerful. When you take the time to be present in the moment and connect with people, you'll be able to see impact.

• Remember the wisdom and opportunities people gave you in your journey. Gather these gems and make it your goal to one day also impart wisdom to others so they may achieve success too.

• As you grow in your career, make it your responsibility to help people outside of your own bubble. Success and progress gives you the opportunity to support others.

• Everyone doesn't always think like you or want to see you win. Be aware of yourself during these times of challenge. You still have to push forward.

"I not only had people that gave me opportunities, but I also had people that gave me time, knowledge, and advice. To look back, those gems added up over the years. Keep gathering those gems, as you grow older, you recognize the responsibility to give those gems back to others." — Daniel Russell, Sr.

About Daniel Russell, Sr.: Daniel is the Vice President of national corporate sales at Trion Solutions. He is also an internationally recognized public speaker, motivator, and influencer. Dan has several years of experience in banking and finance and is involved in many charitable causes.

Connect with Daniel Russell, Sr.:

Email: [email protected]

Website: https://www.relyontrion.com/

LinkedIn: https://www.linkedin.com/in/daniel-russell-sr-b6373627/

Connect with Nathan Mersereau:

Email: [email protected]

Phone: 248-645-1520

Website: www.dayinacanoe.com

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310

Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Rod discuss:

• Qualities needed for excellent reporting
• Being right versus being first
• Helping people understand personal finance
• Realizing it's not about what happens to you, it's about how you respond

Key Takeaways:

• Curiosity, a willingness to listen and perseverance are characteristics of a great reporter. You can never underestimate the importance of listening.
• Know the role that you're in, know what you're great at, know what energizes you, know how to manage your time and effectiveness, and do the thing that you love.
• Speed isn't always good. It's better to be right than to be first. However, if you want to be the best, then strive to be right and be first.
• Whoever you are and whatever you choose to do in life, you will face adversity. Embracing adversity and persevering through it is what brings growth in character and in skill.

"You have to have perseverance. Even if things start going south on you, or you're not finding what you're looking for, you keep looking, you keep pressing, you keep going…" — Rod Meloni

About Rod Meloni: Rod Meloni is an Emmy Award-winning Business Editor on Local 4 News and Certified Financial Planner™ Professional.

Rod joined WDIV-TV News in October 1995 and has become an expert in bankruptcy and business and municipal turnaround efforts after spending years leading Local 4's coverage of the automotive industry meltdown and the financial difficulties of the City of Detroit and Wayne County. As Business Editor he has also won the International Wheel Award for excellence in Automotive Journalism. One of his goals was to be able to explain business and personal finance authoritatively to anyone.

To that end, he became the first ever working journalist in the nation to pass the extremely difficult Certified Financial Planner™ Professional exam and then go on to attain Certified Financial Planner™ status. Rod is a board member of the Automotive Press Association in Detroit and also sits on the Board of the Oakland University Center for Business Excellence.

Connect with Rod Meloni:

Twitter: https://twitter.com/RodMeloni

LinkedIn: https://www.linkedin.com/in/rod-meloni-cfp%C2%AE-b5522316/

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310

Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Rod discuss:

• What characteristics should a reporter have? 
• The fuel that leads to opportunities and experiences
• Being right versus being first 
• Persevering through adversities 

Key Takeaways:

• Curiosity and a willingness to listen are both characteristics of a great reporter but it also applies to people in other careers. 
• Know the role that you're in, know what you're great at, know what energizes you, know how to manage your time and effectiveness, and do the thing that you love.
• Speed isn’t always good. It’s better to be right than to be first. However, if you want to be the best, then strive to be right and be first. 
• Whoever you are and whatever you choose to do in life, you will face adversity. Embracing adversity and persevering through it is what brings forth growth in character and in skill. 

"You have to have perseverance. Even if things start going south on you, or you're not finding what you're looking for, you keep looking, you keep pressing, you keep goin…" —  Rod Meloni

About Rod Meloni: Rod has been reporting live at least twice a day for 27 years now! As an Emmy Award Winning Business Editor at WDIV-TV you can count on him to be in the middle of whatever late developing business headline that crops up. He also covers stories at the intersection of high finance, municipal mismanagement & corruption. Occasionally, he covers things like politics or general assignment crime. He has a special disdain for, and targets whenever the need, those who would take financial advantage of our senior population. 

He earned a Certificate in Personal Financial Planning from Oakland University [Michigan] & later passed the Certified Financial Planner™ Professional exam; eventually becoming the nation's first ever working journalist to attain Certified Financial Planner™ Professional status. 

Connect with Rod Meloni: 

Twitter: https://twitter.com/RodMeloni 

LinkedIn: https://www.linkedin.com/in/rod-meloni-cfp%C2%AE-b5522316/ 

Connect with Nathan Mersereau: 

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 36800 Woodward Avenue, Suite 200

Bloomfield Hills, MI 48304

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it. 

In this episode, Nathan and Karen discuss:

• How the marketing landscape has become complex
• Why empathy is critical as a leader
• Finding a mentor and looking for personal growth opportunities
• The importance of dreaming big

Key Takeaways:

• Marketing has evolved and companies have complex problems that need specialized solutions. Find an expert that can help you solve your specific marketing problem and take action.
• Lead by example. Don't ask anyone to do anything you wouldn't do. Lean on your empathic ability. Make an effort to really understand the other person and walk in their shoes.
• As a leader, you must find the balance between driving performance and displaying empathy in your team. Be consistent and communicate consequences, both negative and positive.
• Find a mentor and look for opportunities to advance your career and mission.

"Dream big - and then when you thought you've dreamed as big as possible, dream bigger." — Karen Hayward

About Karen Hayward: Karen Hayward is an author, international speaker, and a Managing Partner and CMO with Chief Outsiders, where she is responsible for building and supporting a team of world-class marketers. Located in the San Francisco Bay Area, Karen matches mid-market CEOs and Private Equity Portfolio managers with the best-fit Chief Marketing Officers to help accelerate top line growth. Her book "Stop Random Acts of Marketing" takes the learnings from her previous experience as a VP in both Sales and Marketing and shows mid-market CEOs how to build a strategic growth plan in the digital age to deliver compelling ROI.

Check out Karen's Book: https://www.amazon.com/Stop-Random-Acts-Marketing-Deliberate/dp/1544502532

Connect with Karen Hayward:

Twitter: https://twitter.com/HaywardKG

Website: https://www.chiefoutsiders.com/

LinkedIn: https://www.linkedin.com/in/karenhaywardcmo/

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310

Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Bob Krause discuss:

• Pushing through adversity
• Being the best you can be
• Focusing on being present and living in the moment
• How to stop fear from paralyzing you

Key Takeaways:

• When you commit to focus on your goals, whatever they may be, you'll encounter adversity. You need to find the voice inside you that pushes you forward. Listen to that voice and let it motivate you to keep going.
• Success isn't about doing great things but being the best you can be each day.
• Even if circumstances require you to look to the future and navigate a lot of change, don't forget to focus on the moment. Be present when being with others.
• Fear keeps you from experiencing many things that will make you happier and your life more meaningful. Don't be afraid to reinvent yourself even if you're in a later life stage. Don't be intimidated by other people.

"Don't take anyone for granted. You never know who knows who, you never know who can help you or who you can help… treat everyone the same. " — Bob Krause

About Bob Krause: Bob spent 9 years as a professional golfer and is training to return to the professional golf circuit. Bob is a golf instructor, equipment inventor and provides weekly tips on ABC WXYZ Channel 7 in his Teeing it Up with Bob Krause segment. In addition to his golf pursuits, Bob represents Trion Solutions, Detroit Manufacturing Systems and PARC Home Care. His passion for life, family and pursuing dreams serves as an inspiration to all who know him.

Connect with Bob Krause:

Facebook: https://www.facebook.com/BobKrauseGolf

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310 Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Stephen discuss:

• Investing time into your passion
• Stepping out of your comfort zone
• Being unafraid of failure
• Listening to fear

Key Takeaways:

• Consider activities that you are passionate about or put you in a flow state. Spending more of your time doing these things will propel you to a more satisfying or meaningful life.
• The best way to grow in any area is to step out of your comfort zone and move forward despite hardships or hindrances.
• Don't be paralyzed by the fear of failure. Give yourself the space to fail and to learn and grow from it. Keep trying until you get it right.
• Fear could be your friend. Listening to your fear's advice has the potential to benefit you but you have to be able to tell if your fear is helping you or holding you back from living your best life.

"Following my heart, following my bliss. What am I moved to do? Saying yes to opportunities. Saying yes to the instinct. There were times that it got me in trouble but I survived it and I was able to learn and grow from it. Not being paralyzed by failure, not letting failure or the fear of not succeeding stop me. That really allowed me to do unprecedented things and step into the role of being a pioneer." — Stephen Koch

About Stephen Koch: Stephen Koch's career as a pioneering snowboard mountaineer, professional athlete and mountain guide led to over 50 first ascents and descents on the world's highest and most challenging mountains where he made calculated decisions with a high level of uncertainty in the face of extreme danger. He generally chose well, but occasionally not. It is in the "not" where the gold lies.

As a thought leader and keynote speaker, Koch analyzes the world of high-stakes decision-making and failure, sharing the gold that has resulted from tragedy as he connects with audiences. He inspires organizations and teams through customized presentations with stories and lessons learned from two decades of climbing and snowboarding unprecedented new routes from around the world.

Connect with Stephen Koch:

Website: https://stephenkoch.com/

Email: [email protected]

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310 Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Alison discuss:

• The importance of constructive communication within families
• Why inheritors need to understand family decisions
• The differences between a single-family and multi-family office
• The challenges and opportunities within family wealth succession

Key Takeaways:

• It is critical for inheritors to understand why decisions were made in order for them to become responsible stewards of wealth.
• If you're looking for a CEO successor within a business, generally, there is a job description and a track record that you're considering for any candidate that comes in the door. It should be the same for family members.
• Don't assume communication has occurred, have a plan, ask for feedback, and set expectations that open dialogue is an ongoing process.
• How Succession Advisors created an educational platform of wealth succession resources to meet needs of individuals and families.

"Creating a roadmap in a succession plan is critical. " — Alison Marckstadt

About Alison Marckstadt: Alison Marckstadt is co-founder of Succession Advisors and has over 15 years of experience in private equity and family office, supporting successful entrepreneurs and investors alike.

Most recently, she was a Vice President and Client Relations expert at Caprock, a multi-family office, SEC-registered investment advisory firm focused on developing and advising on customized wealth strategies for individuals and families. Previously, Alison worked for Tom Barrack the Founder/Chairman/CEO of Colony Capital, Inc, where she provided day to day oversight and management of the various aspects of his public and private businesses, in addition to being a Lead for his Family Office team. Prior to Colony Capital, Alison was at Leonard Green & Partners, a leading Private Equity firm based in Los Angeles who primarily focuses on companies providing services, including consumer, business, and healthcare services, as well as retail, distribution, and industrials; and formerly as the Chief of Staff for Marty Geller of Geller & Company a firm that provides custom strategic financial advisory and wealth management solutions for businesses, individuals, families and not-for-profit organizations, located in New York City.

Alison graduated from Vassar College with a B.A. in Philosophy and Chemistry and obtained her Series 65 license, known as the Uniform Investment Adviser Law Examination, in 2019.

Connect with Alison Marckstadt:

Website: https://successionadvisors.com/

Email: [email protected]

Linked In: https://www.linkedin.com/in/alison-marckstadt-a07b0091/

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310 Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Tyson discuss:

• Who is affected by Artificial Intelligence (AI)?
• How AI affects social media
• Using AI for good
• The impact of technology

Key Takeaways:

• Everyone's life is affected by AI even if you're not social media connected, it's that pervasive at this point.
• AI is affecting social media and it is inorganically promoting trends that aren't necessarily part of a user's interest or belief. It's important to be clear within yourself what your beliefs are and to analyze the trends, not just blindly believe them.
• AI isn't doomed to manipulate our lives and limit our ability to think for ourselves. Instead of merely pushing trends you don't want, AI has the potential to give you the resources that you need in order to live a better quality of life. This has the potential to lead to better outcomes in health, whether physical, mental or financial. Cut through the noise, choose technology that helps you.
• Technology means something different to everybody. There's a lot of ways that it could impact a person's dreams and overall life trajectory.

"I challenge anybody to have a strident belief and share it with someone without fear." — Tyson McDowell

About Tyson McDowell: Tyson is cofounder and managing partner of Greatscale Ventures, and a thought leader on the subject of positively merging humans with AI-driven technologies.

After nearly 20 years of experience in building and running companies as CEO, CTO or President, and watching the world change dramatically as a result of high-scale technologies permeating everyday life, he realized the need to scale up his own efforts to impact humanity with tech.

While technology and business are his focus, Aviation is a core passion. Tyson is a certified private pilot with instrument, multi-engine, helicopter and various type ratings. He resides in San Diego, CA with his wife Erika and daughter Amelia, is a member of the Young Presidents' Organization (YPO), and is Vice Chairman of the San Diego Air and Space Museum.

Connect with Tyson McDowell:

Website: https://greatscale.ventures/

LinkedIn: https://www.linkedin.com/in/tysonmcdowell/

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310 Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Michael discuss:

• Understanding that wealth planning is a journey
• How families can practice wealth stewardship
• The impact of wealth on family dynamics
• The importance of strategic milestones

Key Takeaways:

• Families who have done little planning cannot expect to "fix" it in one meeting. It starts with understanding that planning is a journey that spans across lifetimes and it's a journey with very predictable events.
• Matriarchs and patriarchs cast large shadows and those shadows create spoken and unspoken expectations. The most responsible way to handle money is to make it a family experience, to train the next generation how to be stewards of their resources.
• In any family, you can map out and predict milestones that can be successfully navigated so the family is preserved - not just the wealth, but the love and relationships.
• Money has to have a purpose that goes beyond just making more money. The movement of your money impacts the world and you can choose to make it impact the world positively.

"The wealth stewardship concept says that if you can, make wealth a family experience, and train the next generation to be great wealth stewards and understand that they don't have to start from zero. Train them to be good wealth stewards so that they can grow it, incrementally build it, and pass it along to the next generation." — Michael Cole

About Michael Cole: He is a true industry leader. He manages R360 which is an invitation-only membership organization. He is a former CEO of several wealth management and family offices and has over 30 years of experience in the industry.

Connect with Michael Cole:

Website: https://www.r360global.com/

LinkedIn: https://www.linkedin.com/in/michaelacole1/

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310 Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.

In this episode, Nathan and Lisa discuss:

• The importance of mentorship
• Practicing reverse mentoring
• What a good culture looks like
• The burden of perfectionism

Key Takeaways:

• Mentorship doesn't focus on the "how" but on the "why" of the job. Whether you are the mentor or the mentee, you have to come into the meeting with an agenda or else you'll both be wasting each other's time.
• Reverse mentoring is a good way to engage younger and less experienced people so that they could share their opinions and feelings about working in the organization safely.
• Create a culture where people are all connected and all enjoying spending time with each other and working together.
• Free yourself from the burden of perfectionism. Be humble and honest about your mistakes, be gracious to yourself, and learn from it.

"Mentorship is different. It's not about learning the technical elements of your job, that's the organization's responsibility, mentorship is the individual's responsibility." — Lisa Crafford

About Lisa Crafford: In her career she has had the opportunity to work for small family owned businesses, large retail franchises, non-profits, and Fortune 500 companies spanning Australia and the United States. She has lived in three continents, and traveled to over 30 countries.

Her experience includes business and practice management, consulting, business development, marketing and branding, operations, sales, human capital strategy, recruiting, retail management, and customer service.

In 2012 she founded Cogent, a practice management study group that existed to help financial advisors improve their business operations.

She is a graduate of The College of William and Mary's Executive MBA Program, and was elected Class President for the Class of 2014.

In her role as a consultant with BNY Mellon's Pershing, she has the great privilege to work with leading RIA firms around the world on building enduring advisory firms. She also loves to contribute to the wider industry and share her experience with students and those looking to join her wonderful industry.

Connect with Lisa Crafford:

Website: https://www.pershing.com/

LinkedIn: https://www.linkedin.com/in/lisacrafford/

Connect with Nathan Mersereau:

Phone: 248-645-1520

Website: www.dayinacanoe.com

Email: [email protected]

Twitter: @NathanMersereau

LinkedIn: Nathan Mersereau

Address: 255 S Old Woodward Avenue, Suite 310 Birmingham, MI 48009

Show notes by Podcastologist: Justine Talla

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.