What kind of digital legacy will you leave behind? How will your beneficiary or executor gain access to your digital legacy after you pass away?
In this episode, portfolio and wealth strategist at MCM Wealth, Kirk Lowry, dives into the complexities of digital assets, from preserving cherished family photos to securing cryptocurrency for future generations. Tune in to learn why digital assets hold value beyond money and how to protect them, ensuring your digital footprint lives on as part of your legacy.
Kirk discusses:
The nature and value of digital assets, from family photos to cryptocurrencies
What are the legal frameworks for accessing these assets posthumously, and what does RUFADAA mean for you
The practical steps for ensuring access to your digital world, like having a living document of access credentials
Unique considerations in estate planning for digital assets such as cryptocurrencies and NFTs
Ethical concerns and family considerations when managing a deceased loved one’s digital assets
Kirk Loury provides integration between MCM’s marketing, investment strategies, and implementation. He is also a co-founder and managing member of Advisable Wealth Engines, LLC. Mr. Loury has over thirty years of experience in a variety of executive roles covering investing, marketing, and wealth-technology deployment.
Understanding Business Valuations: Why Every Company Needs Them with Max Friar and David Coit
Why is getting a business valuation crucial for your company’s future? Most often, business owners overestimate the value of their company. Knowing the actual value can significantly affect their ability to retire and the lifestyle they’ll lead.
In this episode, Max Friar, Managing Partner at Calder Capital, discusses the intricacies of business valuation with David Coit, Director of Finance and Valuation at Vertess Healthcare Advisors LLC. They explain why understanding the true value of your business is essential not just for potential sales, but for strategic planning, estate planning, and navigating partnership disputes. David and Max emphasize how professional valuations can illuminate the strengths and weaknesses of your company and guide your decisions toward long-term growth and stability.
David and Max discuss:
Common misconceptions about business valuations and their potential impacts
How customer concentration and owner reliance affect a business’s value
The importance of qualitative factors like impending legal actions in the assessment
Advice for business owners on improving profitability and strategic growth
Max Friar, Managing Partner at Calder Capital, LLC, has been working in mergers and acquisitions since 2005, beginning his career as the Director of Marketing for a Midwest mergers and acquisitions firm where he quickly fell in love with the fast-paced and challenging world of business transactions. He founded Calder Capital, LLC in 2013 and is presently its Managing Partner/CEO. Max has a passion for entrepreneurship, technology, psychology, process improvement, and growth. Beyond starting and owning businesses, Max also has personal experience in investing in, buying, and selling closely held businesses. He brings energy, focus, creativity, and a unique ability to create order out of chaos. Max is a summa cum laude graduate of Alma College (2003) where he majored in International Relations and became the college’s first Fulbright Scholar. Max has received numerous awards and recognitions for his work in M&A including Dealmaker of the Year Finalist (2018), Grand Rapids Top 200 Business Leaders (2019 – 2023), and the Grand Rapids Business Journal’s 40 under 40 Business Leaders (2020). Max has been recognized by the Business Brokerage Press as a Manufacturing Industry Expert since 2020.
David Coit, Director of Finance and Valuation at Vertess Healthcare Advisors LLC, is a seasoned commercial and corporate finance professional with over 30 years of experience. As a key member of the VERTESS team, he provides clients with expertise in valuation, financial analysis, and consulting support. With over 400 completed business valuations, David focuses primarily on healthcare companies, including behavioral healthcare, home healthcare, hospice care, substance use disorder treatment providers, physical therapy practices, physician practices, durable medical equipment companies, outpatient surgical centers, dental offices, and home sleep testing providers.
David holds multiple certifications, including Certified Valuation Analyst (CVA) from the National Association of Certified Valuators and Analysts, Certified Value Growth Advisor (CVGA) from Corporate Value Metrics, Certified Merger & Acquisition Advisor (CM&AA) from the Alliance of Merger & Acquisition Advisors, Certified Business Exit Consultant (CBEC) from Pinnacle Equity Solutions, and Certified Acquisition Integration Manager (CAIM) from Intista. His doctoral dissertation was focused on business valuation, further solidifying his expertise in the field.
He earned a Doctorate in Business Administration from Walden University, specializing in Corporate Finance with a perfect 4.0 GPA, an MBA from Keller Graduate School of Management, and a BS in Economics from Northern Illinois University. David is also a proud member of both the Golden Key International Honor Society and Delta Mu Delta Honor Society.
Before joining VERTESS, David spent nearly 20 years in commercial finance, holding senior-level management positions at two Fortune 500 companies. In that time, he analyzed the financial health of thousands of companies and successfully sold over $2 billion in corporate debt to institutional buyers.
David is a former adjunct professor with 15 years of experience teaching corporate finance, securities analysis, business economics, and business planning to MBA candidates at two nationally recognized universities. His extensive background in both academia and industry makes him a highly sought-after expert in corporate finance and business valuation.
Due Diligence in Investment Management With Bob Hoyt and Soren Peterson
It takes due diligence to ensure your investments are as protected as possible.
In this episode, Bob Hoyt, President and Investment Committee Chairman at MCM Wealth, and Soren Peterson, AMP 1 Research Analyst, dive into the intricacies of due diligence and its critical role in constructing robust investment portfolios. They explain how the MCM Wealth team conducts thorough due diligence, what factors they consider, and how they mitigate risks to enhance the profitability and stability of investments.
Bob and Soren discuss:
Understanding the concept of due diligence with real-world analogies
How MCM Wealth uses due diligence to manage multi-strategy, multi-manager funds
The importance of qualitative and quantitative factors in investment evaluations
MCM Wealth’s unique methods for ongoing due diligence and risk management
Robert (Bob) Hoyt is the Principal, President, and CIO of MCM Wealth and chairs the Investment Committees for both MCM Wealth and the AMP I Fund. Dr. Hoyt began his career practicing clinical psychology while serving as an Adjunct Professor at Mount Sinai Medical School.
He then worked within his family’s industrial distribution business, eventually becoming CEO and ultimately taking his business public. He became CIO of his own family office in 2000. In 2004, he also became a partner and a member of the Investment Committee of a hedge fund that made private placements in public securities (PIPES). In 2014, he founded Blue Hall Wealth Advisors. In 2021, after years of sharing ideas and collaborating on projects with Geoffrey Hakim, he joined Marin Capital Management. (Mr. Hoyt is also an investment advisory representative.) Mr. Hoyt received his B.A. from Sarah Lawrence College, a master’s degree from Northwestern University, and a Ph.D. in clinical psychology from Yeshiva University.
Soren Peterson, AMP 1 Research Analyst, heads manager identification and research for AMP 1. He joined MCM Wealth as an intern in June 2018 and became a research analyst by year-end. Mr. Peterson has served as a Peer Assisted Learning Specialist (PALS) at the Santa Rosa Junior College where he taught statistics to community college and adult learning students. Prior to joining the firm, he was a student at Santa Clara University’s School of Engineering from 2017-2018 where he received the Dean’s List recognition for attaining a 4.0 GPA and was rewarded a $120,000 Merit Grant. Soren has devoted significant time to community service serving as a build member for Habitat for Humanity Santa Clara University Chapter from 2017-2018, and before that serving as a Junior Commissioner on the County of Sonoma Commission on Human Rights from 2015-2016. Mr. Peterson is currently continuing his education in finance at NYU Stern Undergraduate College.
Are you struggling to take control of your finances?
In this episode of MCM Wealth, Kirk Loury, portfolio strategist at MCM Wealth and managing member of Advisable Wealth Engines talks about the top five things you can do to control your wealth.
Learn about the BREAD approach – budgeting, understanding investment roles, educating yourself, engaging with your advisors, and fostering open dialogues with loved ones – and how it can transform your financial outlook. No matter where you are in your financial journey, whether you’re struggling with your budget or need to get a better handle on your investment roles, this episode provides actionable insights to help you regain control over your financial life.
Kirk discusses:
Understanding and maintaining a budget to keep your spending in check and aligned with your income
Knowing the specific role each investment plays in your overall wealth plan
The importance of educating yourself to become your own advocate
Engaging and maintaining an active relationship with your financial and other advisors
Keeping open communication with your family and loved ones about financial priorities and plans
Kirk provides integration between MCM’s marketing, investment strategies, and implementation. He is also a co-founder and managing member of Advisable Wealth Engines. Mr. Loury has over thirty years of experience in a variety of executive roles covering investing, marketing, and wealth-technology deployment. He has particular expertise in applying well-conceived insurance products as investments within a wealth plan to minimize portfolio volatility, deliver high tax efficiency, and meet multi-generational income goals. While having experience with institutional investors, Mr. Loury’s primary focus is with private wealth investors including family offices. Kirk Loury received a bachelor’s degree in marketing from the University of Colorado, Boulder, and an MBA from the Harvard Business School.
Finding Fulfillment Beyond the Business With Charis Santillie
Did you know that a significant number of business owners experience a sense of guilt in retirement?
Charis Santillie, a renowned Fulfillment and Life Transition Coach, explores the journey towards finding lasting fulfillment during major life changes, particularly focusing on business owners transitioning towards retirement or a new career. Charis dives into the importance of not just navigating transitions tactically but ensuring these changes pave the way for an enriching next chapter of life. By examining the unique challenges and opportunities these transitions present, the conversation illuminates how individuals can turn these pivotal moments into their most rewarding yet.
Charis discusses:
The critical difference between change and fulfillment in life’s transitions.
Strategies for discovering what truly brings joy and fulfillment beyond career identity.
The common struggle with guilt and self-worth during retirement or career transition.
Practical steps to redefine oneself and embrace a new chapter post-career.
Charis Santillie is a Fulfillment & Life Transition Coach, Speaker, Podcaster, and Founder of Charis Your Life®. With 24 years of experience as an entrepreneur, Charis is a Certified Fearless Living® Coach, Certified Fearless Trainer, and Positive Intelligence® Trainer.
Planning for Succession & Exit Strategies with Kirk Loury
How can a carefully planned succession pave the way for a successful business transition?
Today on the MCM Wealth Podcast, Kirk Loury, portfolio strategist at MCM Wealth and managing member of Advisable Wealth Engines talks about the importance of succession and exit planning for business owners, highlighting the key differences and the main objectives, providing valuable insights to ensure a smooth transition for both the big boss and the business.
Kirk discusses:
Succession planning: Understanding what it entails and why it’s crucial
Arriving at a clear definition of succession planning and its significance
Navigating through the complexities of successional planning and strategic management
Expanding the scope of succession planning for the seamless transition of ownership
Exit planning: Unveiling the key objectives and strategies
Outlining the main goals of exit planning for a successful business transition
Distinguishing between succession planning and exit planning for better decision-making
Effective strategies for a successful business exit and post-transition objectives
Kirk provides integration between MCM’s marketing, investment strategies, and implementation. He is also a co-founder and managing member of Advisable Wealth Engines. Mr. Loury has over thirty years of experience in a variety of executive roles covering investing, marketing, and wealth-technology deployment. He has particular expertise in applying well-conceived insurance products as investments within a wealth plan to minimize portfolio volatility, deliver high tax efficiency, and meet multi-generational income goals. While having experience with institutional investors, Mr. Loury’s primary focus is with private wealth investors including family offices. Kirk Loury received a bachelor’s degree in marketing from the University of Colorado, Boulder, and an MBA from the Harvard Business School.
From Listing to Closing: How to Sell Your Business Efficiently With Max Friar
Every business owner needs to exit their business eventually. So, what does that process look like, and how can it be carried out efficiently?
Today on MCM Wealth, Max Friar, Managing Partner at Calder Capital, LLC, discusses the intricacies of selling a business. Max goes into the strategies of creating a market for business sales, the challenges owners face, such as overvaluation, and the importance of understanding their motives. He also outlines Calder Capital’s role in vetting potential buyers and steering transactions to a successful close, offering a glimpse into the complexities of the business selling process.
Max discusses:
The process of making a market for selling a business
Services offered by Calder Capital
Challenges faced when working with business owners looking to sell their business
The critical period in moving a mergers and acquisition transaction to a close
Max Friar, Managing Partner at Calder Capital, LLC, has been working in mergers and acquisitions since 2005, beginning his career as the Director of Marketing for a Midwest mergers and acquisitions firm where he quickly fell in love with the fast-paced and challenging world of business transactions. He founded Calder Capital, LLC in 2013 and is presently its Managing Partner/CEO. Max has a passion for entrepreneurship, technology, psychology, process improvement, and growth. Beyond starting and owning businesses, Max also has personal experience in investing in, buying, and selling closely held businesses. He brings energy, focus, creativity, and a unique ability to create order out of chaos. Max is a summa cum laude graduate of Alma College (2003) where he majored in International Relations and became the college’s first Fulbright Scholar. Max has received numerous awards and recognitions for his work in M&A including Dealmaker of the Year Finalist (2018), Grand Rapids Top 200 Business Leaders (2019 – 2023), and the Grand Rapids Business Journal’s 40 under 40 Business Leaders (2020). Max has been recognized by the Business Brokerage Press as a Manufacturing Industry Expert since 2020
Are you planning to sell your business, but don’t know where to start? MCM Wealth can help!
In this episode, Geoff Hakim, CEO of MCM Wealth, discusses the challenges business owners face when planning to sell their companies. He details MCM Wealth’s comprehensive exit strategy program, which includes a team of specialty partners to guide owners through the sale process, from discovery to deal documentation. The program also addresses tax mitigation and offers CEO coaching. Geoff highlights the importance of early estate planning and MCM Wealth’s turnkey approach which saves business owners time and stress in the sale process.
Geoff discusses:
What hurdles business owners face when selling their businesses
Components of MCM’s business exiting package
Difference between succession planning and exit planning
Importance of early estate planning
The selection process for experts in MCM’s turnkey approach
When to plan to sell your business and how long to expect the sale process to take
Can we accurately predict the future? Today, we’re going to learn about forecasting follies.
In this episode, Kirk Loury, portfolio strategist at MCM Wealth and managing member of Advisable Wealth Engines talks about the importance and limitations of forecasting. He highlights the unpredictability of certain factors and the dangers of forecasters making declarative statements with unwarranted certainty. Kirk explains why we should approach forecasts with skepticism, consider the source and methodology, and focus on probabilities for efficient decision-making. He emphasizes the importance of planning and having contingencies in place to navigate the impact forecasts can have when they’re wrong.
Kirk discusses:
What forecasting is and why it’s important
The downsides and limitations of forecasting
Being wary of forecasters with ulterior motives
The role of probabilities in decision-making
Why we should and why we shouldn’t ignore forecasts
How to use forecasts effectively with caution and skepticism
Kirk provides integration between MCM’s marketing, investment strategies, and implementation. He is also a co-founder and managing member of Advisable Wealth Engines. Mr. Loury has over thirty years of experience in a variety of executive roles covering investing, marketing, and wealth-technology deployment. He has particular expertise in applying well-conceived insurance products as investments within a wealth plan to minimize portfolio volatility, deliver high tax efficiency, and meet multi-generational income goals. While having experience with institutional investors, Mr. Loury’s primary focus is with private wealth investors including family offices. Kirk Loury received a bachelor’s degree in marketing from the University of Colorado, Boulder, and an MBA from the Harvard Business School.
Financial Security: The Main Thing of Finance, Part 2
In this episode, Kirk Loury, portfolio strategist at MCM Wealth and managing member of Advisable Wealth Engines picks up where he left off in the last episode about the main thing, financial security, and expands on it to include financial prosperity. He defines prosperity as thriving in life and being successful in various aspects, not just economically, and emphasizes that financial security allows individuals to take risks and meet their priorities. Kirk advises that in the face of financial insecurity, one should revisit their wealth plan and work with a financial advisor. He also stresses the importance of regularly reviewing and adjusting the wealth plan.
Kirk’s key takeaways:
What is prosperity and its relationship with financial security
How determination to make a difference can lead to resilience in the face of obstacles
Main traits and behaviors of a wealthy person with prosperity
How to adjust your wealth plan when problems arise, causing financial insecurity
Kirk provides integration between MCM’s marketing, investment strategies, and implementation. He is also a co-founder and managing member of Advisable Wealth Engines. Mr. Loury has over thirty years of experience in a variety of executive roles covering investing, marketing, and wealth-technology deployment. He has particular expertise in applying well-conceived insurance products as investments within a wealth plan to minimize portfolio volatility, deliver high tax efficiency, and meet multi-generational income goals. While having experience with institutional investors, Mr. Loury’s primary focus is with private wealth investors including family offices. Kirk Loury received a bachelor’s degree in marketing from the University of Colorado, Boulder, and an MBA from the Harvard Business School.
