The Wealth Stream Podcast

Starting your own business can be a daunting task. Yet it might just be what the world needs.

In part one of this mini-series, Tim Scannell is joined by Stewart McMillan to discuss the impact entrepreneurs will have after COVID-19. Stuart recounts his experiences with his entrepreneurial father and the impact it had on his future within the business and beyond.

In this episode, you will learn:

• How Stuart’s father started a business and the struggles they faced
• Advice Stuart has learned over the years
• The importance of mentoring others who may be earlier in their career
• And more!

Listen as Tim Scannell and Stewart McMillan discuss the realities of entrepreneurship.

Resources:  HighTower Great Lakes: (219) 246-5370 | Task Force Tips 

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

When it comes to your financial assets, transferring them to the next generation in succession can be a sensitive situation. 

In this episode of The Wealth Stream Podcast, Tim Scannell is joined by Susan Gellatly of BenchStrength Coaching to discuss methods and strategies for generational wealth transfer. They discuss Susan’s career as a coach and how she has helped young women navigate the corporate world.

In this episode, you will learn:

• What relationship management is and how it can be used to achieve greater success with clients
• How to effectively transfer wealth and assets where multiple parties are involved
• How Susan has helped coach young women to become successful future leaders in the corporate world through her company
• How she became a successful coach and what led her to open up her own firm
• And more!

Join us to learn about generational wealth transfer!

Resources:  HighTower Great Lakes | BenchStrength Coaching

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

Whether you are a business owner, CEO, financial advisor, or perhaps all three, having a group of like-minded professionals that you can reach out to for support is crucial when it comes to your success.

In this episode of the Wealth Stream Podcast, Tim Scannell discusses the ins and outs of mastermind groups. You might be surprised to find that most successful entrepreneurs and advisors are strong advocates of these peer-to-peer mentoring groups. 

In this episode, you will learn:

• How to join a mastermind group
• How to find the right group of like-minded professionals
• About the benefits of belonging to a mastermind group
• Why Tim prefers smaller mastermind groups
• And more!

Tune in now to consider what you could gain by joining a mastermind group.

Resources: HighTower Great Lakes: (219) 246-5370 

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

When it comes to life insurance as an asset, there are a number of ways you can utilize it for your benefit. 

On this episode of The Wealth Stream Podcast Tim Scannell and special guest Kirk Hill give us the rundown on utilizing life insurance for advanced financial planning. 

In this episode, you will learn:

• Appropriate and inappropriate uses for life insurance
• How investment in long term care has evolved 
• The best time to purchase insurance given the current circumstances
• How low interest rates are affecting business during the current global situation
• And more!

Join us to learn about advanced planning techniques and how changes in tax law and interest rates may affect you.

Resources:  HighTower Great Lakes: (219) 246-5370 

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

Did you know that there is a way to avoid paying taxes that can help you to enhance your wealth and generate cash flow that is supported by the government?

In this episode of The Wealth Stream Podcast, Tim Scannell shares his insight into the world of tax planning, including tax avoidance. You’ll be surprised to know how much money you could potentially be saving.

In this episode, you will learn:

• What tax avoidance is and how it differs from tax evasion
• What an opportunity zone credit is
• Why having a Roth IRA may be particularly beneficial for younger people
• New tax laws and how those changes may affect you.
• And much more!

Join us now to learn about tax avoidance and the ways you can utilize it to protect your wealth.

Resources:  HighTower Great Lakes

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

As a business owner, it’s important to understand what drives the value of your business.

In this episode of the Wealth Stream Podcast, Tim Scannell returns with part two of his series on value drivers to share how to get the most out of your business when you exit. 

In this episode, you will learn:

• The final six value drivers to be aware of when exiting your business
• Why having great internal management helps improve the overall value of your business
• How having a proven growth strategy can help you once you’re ready to sell
• Why business scalability drives value
• And much more!

Join us now to learn about the different value drivers and how you can make sure you’re getting the most out of your money.

Resources:  HighTower Great Lakes: (219) 246-5370 | Episode 35: The Importance of Understanding Your Value — Part 1

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

Do you know what drives the value of your business?

In part one of this miniseries, Tim Scannell explains what value drivers are, and shares how understanding them may be of benefit to you should you choose to sell your business. 

In this episode, you will learn:

• The first three value drivers to be aware of
• Why making the business successful without you increases its value
• Why having scalable and repeatable processes is crucial
• And more!

Join us now to learn about value drivers and how they can help you get the most out of your business.

Resources:  HighTower Great Lakes: (219) 246-5370 

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

What is your plan for retirement? Will you lock the doors and close your business on your last day? Have you considered a successor to carry on your legacy?

In this episode, Tim Scannell takes us through the top 10 questions as a business owner; your financial team should be asking you, especially as you move closer to retirement. You need to surround yourself with the right team that through advanced planning will ensure you get the most out of your years of blood sweat and tears from building your business.

In this episode, you will learn:

• How to address things like wealth enhancement, wealth transfer, wealth protection and charitable giving
• It is never too early to start thinking about your exit strategy
• Do you know the actual value of your business
• And more!

Tune in and learn what steps you can take to make sure you are taking a good look at your business and succession planning!

Resources:  HighTower Great Lakes: (219) 246-5370

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

When you eventually pass on your estate to the next generation, do you know if your loved ones will be protected from creditors? 

In this episode, Tim Scannell is joined by John Wiktor from HMB Legal Counsel to answer the most common questions about advanced planning for estates. Together, Tim and John share experiences and examples from the client accounts they mutually work on.

In this episode, you will learn:

• What the threshold for the “death tax” is
• How to make your asset transfer more meaningful
• What to consider before moving to a no-income-tax state 
• The importance of having creditor protection
• What the big advantage is to giving your kids money through a trust rather than as an outright gift
• And more!

Tune in now to get the answers you’ve been looking for about advanced planning for your estate. 

Resources:  HighTower Great Lakes: (219) 246-5370 | John Wiktor’s Email | John Wiktor: (312) 242-3305

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

Are you hoping to give more to your favorite charities and save money in taxes at the same time?

In this episode, Tim Scannell uncovers strategies that may allow you and the recipients of your generosity to get the best bang for the buck. Contributing straight from your required minimum distribution (RMD) or even donating an asset are just two of the many options that you will hear about in this informative episode.

In this episode, you will learn:

• About one of the most tax-efficient strategies you can do
• How to use appreciated stock to avoid capital gains tax
• At what age you can start making donations from your RMD
• What features and tax strategies donor-advised funds offer
• And more!

Tune in to learn tax-efficient strategies for your charitable giving. Think before you write that check!

Resources: HighTower Great Lakes: (219) 246-5370 | 5 Wealth Management Challenges Facing Construction Industry Family-Owned Businesses 

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