The Wealth Stream Podcast

Did you know that the pen is mightier than the sword? The power of the pen is eternal, which means that thinking and communication can greatly impact people’s lives. 

In this episode, Tim Scannell discusses how writing is the key to preserving your history and legacy.  

In this episode, you will learn:

• How good communication works to create transparency, which helps other generations understand the value of their inheritance
• Which tools are used to pass the legacy to the next generation
• How writing and recording stories makes a difference
• Key things that you should know about writing and choosing your audience
• And more!

Tune in and learn how to start writing to preserve your history and legacy! 

Resources:  HighTower Great Lakes | Scribe | Tucker Max | The 7 Habits of Highly Effective People by Stephen Covey

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

When you only focus on rate of return, you’re focusing on the future. But it’s possible that you’re not spending money to enhance your life today. 

In today’s episode, Tim Scannell tells you about the survey he and his team use to measure satisfaction in three areas: well-being, progress, and freedom. Listen in as Tim explains each area and how the experience of taking this survey can help you enhance your life.

In this episode, you’ll learn:

• About the survey used at HighTower Great Lakes to measure satisfaction in key areas of life
• An overview of the three major sections that make up the satisfaction survey
• About rates of return you’ve never heard of and why they matter
• The importance of reinvesting in further education
• The role that philanthropy can play in your overall well-being
• And more!

Tune in to learn about the satisfaction survey and find out how you can fill one out!

Resources:  HighTower Great Lakes | Episode 17 – Return on Life: Part 1 | Satisfaction Survey

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

Are you overly concerned with your return on investment? Well, it turns out that there are more life-altering factors to consider than ROI. 

In today’s episode, Tim Scannell introduces a perspective-changing approach called “return on life.” He explains how this process differs from a return-on-investment focus and explains why ROI is only one part of the equation.

In today’s episode, you will learn

• Why focusing only on ROI is problematic
• What it means to change the conversation from return on investment to return on life
• The three key areas that the return on life process focuses on
• The definition of “fiscalosophy”
• What is included in the eight sections of the return on life questionnaire 
• And more!

Join Tim now to learn how the return on life process can shift your investment-focus for the better! 

Resources:  HighTower Great Lakes

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

Would family office services make your life easier? If so, what is the first step to getting started?

In part two of his mini-series, Tim Scannell explores these questions and talks about which tasks clients are most excited to hand over to his family office service.

In this episode, you’ll learn:

• Some of the most common services families seek out within the family office services
• About the different functions of a single family office versus multi-family office services
• What having a virtual family office involves
• How Tim helps families in emotionally difficult situations make decisions for family members who need support
• The three sections that make up the family needs assessment at HighTower Great Lakes

Tune in to find out how you could benefit from family office services.

Resources:  HighTower Great Lakes | Episode 15: What You Didn’t Know About Family Office Services

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

In what instances would you need family office services?

There are straightforward situations and then there aren’t. The latter is where family office services come in. Today, Tim introduces the family office services at HighTower Great Lakes and explains what the services involve for different clients.

In this episode, you’ll learn:

• Why HighTower Great Lakes offers family office services
• What the family office services entail
• How family office services can help with the most complicated situations
• The process of preparing the next generation to take over a business
• The two levels of services offered within family office services
• And more!

Tune in to learn what family office services are all about and how you can benefit from them.

Resources:  HighTower Great Lakes

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

In part two, Tim Scannell covers another major topic under advanced planning: asset protection. He discusses how children or grandchildren with special needs can be supported by their families without experiencing an interrupting in the benefits they receive. 

In this episode, you’ll learn:

• What is involved in wealth protection for special-needs beneficiaries
• Solutions to prevent special-needs beneficiaries from losing their support services
• Useful tools to help families who are concerned that their children might make poor financial decisions
• And more!

Tune in to discover what financial solutions are available for families with special-needs wealth beneficiaries. 

Resources:  HighTower Great Lakes | Episode 12: Advanced Planning Part 1: Preparing Beneficiaries and Prenuptial Agreements

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

Change is inevitable and the way we deal with it can have a far-reaching impact on our lives. According to Tim Scannell, this is where advanced planning comes in.

In part one of his mini-series, Tim discusses how advanced planning can help prevent future problems that usually arise from four tough situations. Tim offers guidelines in today’s episode to help you handle two of these scenarios: preparing beneficiaries who have special needs and navigating prenuptial agreements.

In this episode, you’ll learn:

• The meaning of advanced planning
• Why it’s important to gather information in the advanced-planning process
• About the three essential pieces of an estate plan
• How Tim and team help protect beneficiaries who have special needs
• Why prenuptial agreements are an unpopular but crucial area of advanced planning
• The true meaning and purpose of a prenuptial agreement
• And more!

Join Tim now and learn how to live greater today and prepare for life’s big changes!

Resources:  HighTower Great Lakes

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

Do you know about the softer side of financial planning?

Planning isn’t all about conducting technical quantitative analyses. In fact, Tim Scannell and his team spend half of their time helping clients with more subtle planning items, called “transition points.”

Today, Tim explains how you can prepare for two major transition points—downsizing and retirement.

In this episode, you’ll learn:

• About HighTower Great Lakes’ unique approach to financial planning that additionally focuses on transition points
• What the common examples of transition points are
• About popular downsizing-misconceptions
• How Tim Scannell helps clients’ parents downsize
• About Tim and his wife’s experience with using a five-focused checklist when they downsized

Join Tim now to learn what goes into the process of downsizing and how he can help you through it!

Resources:  HighTower Great Lakes

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

There are many terms used in the financial industry, and differentiating between similar ones can be confusing. Do you know the difference between a “fiduciary” and a “broker”?

Today, Tim Scannell answers that very question. Not only that, but he also gives insight into how the fiduciary process works, particularly at Hightower Great Lakes.

In this episode, you’ll learn:

• The key differences between brokers and fiduciaries
• Why the fiduciary process can be compared to that of a dietitian
• The fee structure of a fiduciary versus a broker
• How the fiduciary process at Hightower Great Lakes operates
• And more!

Tune in now to learn about the benefits of having a fiduciary on your side!

Resources:  HighTower Great Lakes | HighTower Whiteboard Animation: Brokers vs. Fiduciaries

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.

Inheriting wealth is harder than it sounds. Too often, younger generations misuse wealth because they don’t know how to preserve it or how to make wise spending decisions.

The family bank could be the solution.

In today’s episode, Tim Scannell gives you a behind-the-scenes look at how clients use family banks to educate their children, protect their assets, and channel money in a direction that aligns with their values.

In this episode, you’ll learn:

• The three most popular reasons for creating a family bank
• Examples of how family banks create educational experiences for adult children
• The benefits and drawbacks of using a family bank
• Different priorities a family bank can address
• How a family a bank can encourage certain behaviors in younger generations
• And more!

Listen in now and learn how you could use a family bank to provide younger generations with support and education!

Resources:  HighTower Great Lakes

Hightower Advisors, LLC is an SEC registered Investment advisor. Securities are offered through Hightower Securities, LLC, Member FINRA/SPIC.