In this episode, Bernard Surovsky and Larry Kriesmer welcome special guest Paul Lim, a San Diego Financial Literacy Foundation board advisor. Paul emphasizes the importance of financial literacy and shares his passion for demystifying financial concepts to empower individuals to make wise financial decisions. He discusses his work with the foundation, including in-person financial opportunity clinics for underserved communities. Paul also talks about the challenges of back-tested financial data and the need for skepticism.

Paul S. Lim, CRPC®, CFP® is a CERTIFIED FINANCIAL PLANNERTMProfessional with The Wealth Consulting Group.  He graduated from Johns Hopkins University with a Bachelor’s Degree in Economics and has been recognized throughout his career for both his professional achievements and outstanding community service in the Greater San Diego Area. His dedication to achieving both personal and professional excellence began early on as evidenced by his being named a “30 Under 30 – San Diego County Leader” by Patch San Diego. 

In addition to accolades received from both the United States Congress and California State Senate, Paul was the San Diego Chapter President for the National Association of Asian American Professionals (NAAAP): the oldest, largest and fastest-growing Pan-Asian professional organization with chapters in 28 major metropolitan cities across North America. He has been featured as a guest and subject matter expert on numerous radio shows and podcasts including NPR’s Midday Edition. Paul currently serves as a Board Member for the San Diego Financial Literacy Center (SDFLC), a 501(c)(3) nonprofit organization dedicated to delivering financial education and debt management services to the public.          

What you’ll learn about in this episode:

·      Providing essential financial information is vital, as even well-educated individuals often need help with basic financial concepts.

·      Using analogies to explain complex financial concepts helps bridge the gap between the unfamiliar and the known.

·      Distinguishing true experts from marketing-savvy individuals is essential; building a network and gaining foundational knowledge are valuable steps.

·      Approaching financial data with skepticism is essential due to inherent biases and potential manipulation, requiring a deep understanding of underlying mechanics.

·      Financial literacy programs, including clinics and initiatives like "Boost for Our Heroes," are crucial in educating underserved populations.

Guest Resources:

https://www.lpl.com

https://www.facebook.com/lplfinancialllc/

https://www.linkedin.com/company/lpl-financial

https://www.twitter.com/LPL

https://www.youtube.com/user/lplfinancialllc

https://www.instagram.com/lpl_financial/

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, Bernard Surovsky and Larry Kriesmer talk to Rory Henry, Director at AFO Wealth Management and Arrow Root Family Office. Rory is passionate about helping people uncover what matters most to them to live a meaningful life. He believes that values shape goals, goals shape behaviors, and behaviors reflect values.

Rory Henry, CFP® and Behavioral Financial Advisor BFA™, is director at Arrowroot Family Office and co-founder of AFO Wealth Management Forward. Author of the forthcoming book, Holistic Guide to Wealth Management, he has been in the tax and financial advisory profession for nearly two decades and has created a program to help accounting professionals incorporate holistic wealth management and proactive planning services into their practice. He hosts the AFO Wealth Management Forward podcast, featuring interviews with guests from The Wall Street Journal, Forbes, Fortune, Accounting Today, CPA Trendlines, and nationally recognized accounting and wealth management thought leaders. Outside work, Rory is an avid sports fan, plays golf, and enjoys performing improv at comedy theaters throughout Los Angeles. 

What you’ll learn about in this episode:

·      How understanding personal values is essential for shaping financial goals and behaviors leads to a more meaningful and purposeful life.

·      The importance of understanding the emotional and psychological dimensions of money, and how financial therapy can assist individuals in revealing their deeper connections to money and its meaning.

·      How collaboration between CPAs and wealth management firms offers clients a holistic approach to financial planning, combining technical expertise with behavioral insights.

·      Ways to apply insights from behavioral finance to help individuals make better financial decisions based on understanding their behavior and biases.

·      Why CPAs should focus on developing communication and relationship-building skills to provide more value to clients and transition from time-based to value-based pricing models.

Guest Resources:

https://wealthmanagementforward.com

https://twitter.com/WealthManagem19

https://www.linkedin.com/company/wealth-management-forward/mycompany/

https://anchor.fm/arrowrootfamilyoffice

https://www.youtube.com/channel/UC8Pt97Gz9QNQmr_GhlNkXFg

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, Bernard Surovsky and Larry Kriesmer welcome Michael Clanin. They explore strategies to protect assets and plan for retirement, such as using tax-deferred income, annuities, and investing in companies that provide basic human needs. Risk management is highlighted as a critical factor in creating a secure financial future, and rising interest rates are discussed as a potential benefit of investments. Individuals are encouraged to consider fees and other costs when investing in annuities and to prioritize cash flow and security. With the correct information and guidance, individuals can make informed decisions to achieve their retirement goals.

Michael has been a Retirement Planning Professional for over 20 years, guiding his clients on various retirement planning strategies, which include tax efficient Income planning, wealth management, legacy planning, Medicare, and Social Security maximization. As a Certified Financial Fiduciary®, Michael is committed to delivering outstanding professional service to his clients with a focus on honesty and integrity. He takes great pride in helping his clients prepare to achieve their retirement goals while establishing everlasting relationships. This is one of the many reasons he is highly sought within his community Michael’s practice is focused on providing safe solutions to help reduce market volatility, establish reliable retirement income and provide the peace of mind that comes with having a secure retirement plan.

Michael was a former educator, so his natural approach when working with clients is through guidance and educating. When he is not in the office or meeting with clients, you will find him enjoying time with his family, traveling, hiking, biking, or simply relaxing, reading one of his favorite novels.

What you’ll learn about in this episode:

·      Learn how to navigate investment risks and shield your retirement savings effectively.

·      Discover how annuities ensure a stable income throughout retirement, providing financial security.

·      Uncover the power of tailoring investments to your risk tolerance, empowering you to take charge of your financial future.

·      Gain insights into transparent financial advisor compensation, fostering an open and trustworthy advisory relationship.

·      Explore strategies that combat inflation, preserving your wealth through diversified dividend portfolios and risk-shifting methods.

Guest Resources:

https://safemoney.com/iowa/507-michael-clanin/

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, Bernard Surovsky and Larry Kriesmer talk about the importance of resilience and perseverance for young advisors in the financial planning industry with Benaiah Gorman. They discuss the power of networking and mentorship, the necessity of financial planning education, the specialized 1031 Exchange Expertise, and the concept of failing small and often to encourage risk-taking and learning from mistakes. This episode is essential for young advisors to master the complexities of the financial planning industry.

Benaiah is a Lead Advisor for BMSS Wesson Wealth Management, a firm based in Birmingham, AL that since its inception in 2016 has grown from 0 in assets to over $450 Million. Benaiah works with 1st and 2nd generation clients (Ages 16 to 81), focusing on family dynamics and private alternative assets.

What you’ll learn about in this episode:

·      The importance of adaptability and persistence in the industry.

·      The value of effective communication, relatability, and genuine client interactions in building expertise and trust.

·      How the financial planning field requires a self-starter attitude, a likable personality, and strong networking skills to navigate its diverse sectors and achieve success.

·      Why learning from small failures, avoiding major mistakes, and maintaining a long-term focus is crucial in an industry characterized by market volatility and complex decision-making.

Guest Resources:

http://bmsswesson.com

https://www.linkedin.com/in/benaiah-gorman-cfp®-500708107/

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, Bernard and Larry had a conversation with Doug Herring and delve into the critical strategies of asset allocation, diversification, and insurance products to safeguard investments from significant losses. They discuss the advantages and limitations of various approaches, such as buffered ETFs, and share insights on managing risk based on clients' risk tolerance and retirement goals. The episode emphasizes the importance of education and understanding complex financial instruments like options while recognizing that no strategy is foolproof.

Doug Hering is a fee based financial planner in Colorado Springs, who loves to work with clients to develop a road map for creating their financial dreams. He spent almost forty years in accounting at all levels, including as the CFO of a 500 employee organization. After a bout with cancer a few years ago, he decided to pursue professionally what he had been doing for friends for the past few decades, that is assist the average person with financial information and advice. In doing so, he realized that few people are equipped to be Do It Yourself investors, and is now helping educate them and walk them through the planning process. 

Doug was an avid age group athlete prior to his multiple myeloma treatment and still plays as much as he can. He enjoys the Colorado outdoors with his wife Marianne. He also lives vicariously through his daughter who is the first American woman to play professional Australian Rules Football in Melbourne, Australia. He also has two sons, one pursuing engineering, the other a talented artist and singer. 

What you’ll learn about in this episode:

·      Asset allocation, diversification, and insurance products are essential for protecting investments from substantial losses.

·      Consider a client's risk tolerance and retirement date when building a portfolio, using hedged or buffer ETFs for downside protection.

·      Why gold may not be an effective hedge in certain market conditions.

·      How to prepare for losses and volatility by implementing risk management strategies, like a 30% buffer with a cap on earnings.

·      Reasons advisors and investors should educate themselves about complex financial instruments like options.

Guest Resources:

https://moneyconcepts.com

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, Bernard and Larry had a fascinating conversation with Urban Adams, an advisor with Dynamic Wealth Advisors, about his experience in the industry. Urban has been in the industry since the Y2K event and has seen the tech bubble burst, which led Bernard and Larry to look for different solutions to wealth management. Urban has a hands-on approach to his practice, offering house calls to clients in the Phoenix area and providing personalized service, such as helping them replace their cell phones. Bernard and Larry discussed their worries and concerns for their clients and the profession, but they believe in the process that allows them to sleep well at night.

Urban is a veteran of over 20 years in the financial services industry. He joined Dynamic Wealth Advisors in 2012. In addition to building his advisory practice, he served in various roles, including Advisor Transitions, Practice Management, and Recruiting. More recently, Urban works with clients nationwide for his advisory practice and consults with other advisors.

What you’ll learn about in this episode:

Guest Resources:

https://www.urbanadams.com

https://www.linkedin.com/in/urban-adams-9756b5a

https://www.facebook.com/103522154355440

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, Bernard and Larry were interviewed on ReLAWtionship with Candise Shanbron and Justin Cernitz. Bernard and Larry have a successful 15-year business partnership. Candise Shanbron and Justin Cernitz discussed the importance of trust, communication, understanding the intent of decisions, and focusing on each partner's core excellence. Measured Risk Portfolios is a financial technology firm specializing in creating custom investment solutions for institutional clients, and its website offers a comprehensive risk management solution. They have developed a portfolio-building strategy that requires 10-15% of the portfolio to be at risk and offers downside protection and a strong participation rate in the market's movement.

Justin Cernitz and Candise Shanbron are a remarkable couple who wear multiple hats professionally and personally. They bring a wealth of legal expertise as partners in their successful law firm. But they don't stop there—Justin and Candise are also the hosts of the hilarious and relatable podcast, ReLAWtionship.

On ReLAWtionship, Justin and Candise offer a fresh perspective on maintaining strong relationships while navigating the complexities of the business world. With their witty banter and charming chemistry, they provide insightful discussions that cover everything from love and life to law and entrepreneurship. Each episode features candid conversations with partners—whether in life, business, or both—who share their experiences and offer practical advice on balancing personal and professional lives.

What you’ll learn about in this episode:

Guest Resources:

https://cernitzlaw.com

https://www.facebook.com/cernitzlawmiami

https://www.instagram.com/cernitzlaw/

https://www.linkedin.com/company/cernitz-law/

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, hosts Bernard Surovsky and Larry Kriesmer welcome Ben VerWys. He discovered the stock market at age 10; this podcast episode discussed the financial planning process, options-based strategies to manage risk, and the importance of navigating the regulatory environment. Bernard, Larry, and Ben discussed the shrinking headcount in the wirehouse world, the move toward independence, and the XY Planning Network, which is now larger than Napa. They encouraged advisors to be more thoughtful about what kind of practice they want to build and to look for ways to do it, such as writing, creating content, and engaging with the public.

In addition to being the Lead Advisor and ‘VerWys’ portion of the VerWys-Martin Team, Ben VerWys is a Senior Financial Advisor, Certified Exit Planning Advisor (CEPA), and Founder of Fiduciary Financial Advisors.

What you’ll learn about in this episode:

·      Financial planning is an evolving field that requires adaptation and innovation.

·      Advisors are encouraged to be thoughtful about the type of practice they want to build and to engage with the public through writing and creating content.

·      The industry is seeing larger Registered Investment Advisers (RIAs) acquiring smaller ones, and advisors are starting their own firms.

·      The two chapters of the client experience involve logistics and life planning, with a significant transition between the two.

·      Compliance is a top priority, with a stringent protocol system and regular reviews of books and trade blotters.

·      Advisors have more opportunities than ever to build a tailored practice that aligns with their goals and preferences.

Ben VerWys Resources:

https://forfiduciary.com

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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On this episode, hosts Bernard Surovsky and Larry Kriesmer welcome Brian Colvert, the President and CEO of Bonfire Financial. They emphasize the importance of continuous learning in managing money. Taking an unemotional approach to investing and effective communication with financial advisors are discussed. Overall, the episode highlights the multifaceted role of advisors in managing emotions and making informed decisions aligned with long-term goals.

Brian Colvert has been serving his clients since 2007 and loves the impact he has been able to have on his client’s lives. He started his career with Smith Barney and later UBS, and found out he could better serve his clients as a true fiduciary as a Registered Investment Advisor, knowing that clients are more important than shareholders. From there, Bonfire Financial was born. Brian is a Certified Financial Planner (CFP®), and has been recognized as one of the top advisors in Colorado and nationally by the National Association of Board-Certified Advisor Practices (NABCAP). He was also named one of the Colorado Springs Business Journal’s Rising Stars 40 under 40 in 2012. Prior to becoming an advisor, he was a top account executive for Ricoh Business Systems in Southern California.

He holds a B.A. in public administration from San Diego State University. He is also a graduate of Stanford University School of Business, iShares Program. Brian also holds a DACFP Certificate in Blockchain and Digital Assets from the New York Institute of Finance. Brian is a lifelong learner and values continuing education. He currently serves as Chair of the Colorado Springs Housing Authority. He previously served as the President of Kids on Bikes, the board of the Colorado Springs Urban Renewal Authority, and was the co-chair of The University of Colorado Colorado Springs Chancellors Leadership class. Brian is an avid swimmer and mountain biker. He was named the USA Triathlon Volunteer of the Year for 2013 as a team leader for Insulin dependence, where he mentored kids with Type 1 Diabetes. As a Type 1 himself, he continues to rank nationally among US Masters Swimmers. Brian enjoys spending time and traveling with his wife, Tiffany, and son, Miles.

What you’ll learn about in this episode:

·      Why expanding knowledge and understanding various ideas, topics, and products can lead to more informed financial decisions and potentially improve financial outcomes.

·      How understanding history and lessons from the past provide valuable insights that can help navigate the complexities of financial management.

·      Why assessing overall progress and staying on track with long-term plans is more important than fixating on losses. Irrational decision-making can harm investment strategies, so focusing on the bigger picture and long-term goals is crucial.

·      How a financial advisor plays a significant role in helping clients make rational decisions based on logic rather than emotions.

·      Why simplifying complex financial concepts and focusing on what the client truly cares about is crucial.

Brian Colvert Resources:

https://www.bonfirefinancial.com

https://www.facebook.com/bonfirefinancial/

https://www.instagram.com/bonfirefinancial/

https://www.linkedin.com/company/bonefirefinancial/

https://www.pinterest.com/bonfirefinancial/

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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In this episode, hosts Bernard Surovsky and Larry Kriesmer interview Director of North American Listed Derivatives at Cboe Global Markets, Rick Rosenthal, who reveals how to use options to control risk and return in investments. Learn about the different types of options and how they can be used to generate income and limit downside risk. Discover how to build an asset allocation model using options contracts and tools like the options calculator. Plus, get expert advice on managing concentrated positions and understanding the trade alert and trade optimizer features of an investment platform.

Rick Rosenthal is the Director of North American Listed Derivatives

Cboe Global Markets. As an accomplished Financial Services Executive with extensive experience in prime brokerage, institutional investors, hedge funds, proprietary trading, securities lending, ETF's, equities, options, and futures. A demonstrated record of building successful businesses through delivering value, innovation, and tailored services for an institutional clientele on a global basis.

What you’ll learn about in this episode:

·      Understanding your clients' risk appetite and portfolio concentration level before investing in options

·      Communicating the benefits of options-based strategies effectively to clients

·      Gain a proper understanding of prime brokers, exchanges, and relevant regulations before initiating options-based strategies

·      Exploring various options-based strategies beyond covered call writing. Advisors should be aware of different strategies that better meet their clients' broader investment objectives.

Rick Rosenthal Resources:

https://www.linkedin.com/in/rirosenthal/

https://www.cboe.com

Measured Risk Portfolios Resources:

https://www.measuredriskportfolios.com

https://www.linkedin.com/company/measured-risk-portfolios/

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