Tag: Wealth Planning

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The Art of the Deal: Finding the Right Buyer & Understanding Your Business’s Value With Bradley Smith

The Art of the Deal: Finding the Right Buyer & Understanding Your Business’s Value With Bradley Smith

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Are you prepared to navigate the complexities of an unsolicited buyout offer?

In this episode, Bradley Smith, Managing Director and Partner of VERTESS, dives deep into the intriguing world of business sales and acquisitions and covers nuanced strategies that could ensure your business fetches its utmost value when receiving buyout offers. Brad explores how to navigate these offers, the importance of finding the right buyer, and strategies to ensure you get the best value for your business. Whether you’re a family business owner, healthcare professional, or entrepreneur, you’ll gain insights into maximizing the value of your business, amid the complexities of the market.

Brad discusses: 

  • The significance of finding the right buyer over just any buyer for your business
  • How to identify the right buyer for your business
  • The impact of private equity in the current market on selling a business
  • How business owners can maximize valuation and avoid common mistakes
  • What a typical deal structure looks like
  • How to mitigate the disadvantages business owners face during the due diligence process.
  • And more

Connect with Geoff Hakim: 

Connect with Bradley Smith:

About Our Guest: 

Meet Bradley M. Smith of VERTESS Healthcare M&A Advisory Firm. For over 20 years Bradley has held a number of significant executive positions including founding Lone Star Scooters, which offered medical equipment and franchise opportunities across the country, Lone Star Bio Medical, a diversified DME, pharmacy, health IT and home health care company, and BMS Consulting, where he has provided strategic analysis and M+A intermediary services to executives in the healthcare industry. In addition, Bradley is a regular columnist for HomeCare magazine and HME News, where he focuses on healthcare marketplace trends and innovative business strategies for the principals of healthcare companies. At VERTESS, Bradley is a Managing Director and Partner with considerable expertise in Private Equity Recapitalizations, HME/DME, Home Health Care, Hospice, Medical Devices, Health IT/Digital Health, Lab Services and related healthcare verticals in with US and internationally.

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Planning for Succession & Exit Strategies with Kirk Loury

Planning for Succession & Exit Strategies with Kirk Loury

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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
  • And more

Resources:

Connect with Geoff Hakim: 

Connect with Kirk Loury:

About Kirk Loury: 

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.

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From Listing to Closing: How to Sell Your Business Efficiently With Max Friar

From Listing to Closing: How to Sell Your Business Efficiently With Max Friar

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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
  • And more

Resources:

Connect with Geoff Hakim: 

Connect with Max Friar:

About Our Guest: 

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

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Exit Strategies For Your Business With MCM Wealth

Exit Strategies For Your Business With MCM Wealth

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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
  • And more

Connect with Geoff Hakim: 

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Forecasting Follies with Kirk Loury

Forecasting Follies with Kirk Loury

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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
  • And more

Resources:

Connect with Geoff Hakim: 

Connect with Kirk Loury:

About Kirk Loury: 

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.

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Financial Security: The Main Thing of Finance, Part 2

Financial Security: The Main Thing of Finance, Part 2

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Can financial security lead to true prosperity?

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
  • And more

Resources:

Connect with Geoff Hakim: 

Connect with Kirk Loury:

About Kirk Loury: 

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.

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Financial Security: The Main Thing of Finance, Part 1

Financial Security: The Main Thing of Finance, Part 1

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What impact does financial security have on your life, and how can you achieve it? 

Well, first we need to define it.

In this episode, Kirk Loury, portfolio strategist at MCM Wealth and managing member of Advisable Wealth Engines, talks about the main thing, financial security. Kirk explains what financial security means, why it’s important to wealth planning, and highlights that it’s not just about wealth, but the freedom to focus on what’s important in life. He emphasizes the role of planning and self-discipline in achieving financial security and drops a hint of what’s to come in part 2!

Kirk goes over: 

  • Why financial security is “the main thing” and what it means
  • What makes financial security difficult to achieve
  • What successfully obtaining financial security looks like
  • Why discipline and the ability to focus on your plan is the most important part in achieving financial security
  • How to get back on track and win the battle if you become derailed
  • What the pitfalls in focusing on financial security are
  • And more

Resources:

Connect with Geoff Hakim: 

Connect with Kirk Loury:

About Kirk Loury: 

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.

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How To Prepare For Next Year With Kirk Loury

How To Prepare For Next Year With Kirk Loury

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2023 is coming to an end and 2024 is right around the corner! How can we prepare ourselves, our financial plans and our investment portfolios for the upcoming year?

In this episode, Kirk Loury, Portfolio Strategist at MCM and Managing Member of Advisable Wealth Enginges, talks about the various documents we need to review in order to prepare for next year. He goes over what the wealth, financial and investment plans are and explains their differences and how they work together. Kirk then dives into the top 5 priorities to focus on to actually get ready for the upcoming year by staying informed and educated about our investments and finances.

Kirk discusses: 

  • What documents we need to review to prepare for the upcoming year
  • What a wealth plan, financial plan, and investment plan are, and how they’re different
  • How wealth, financial, and investment plans work together
  • What our top 5 priorities should be to prepare for the upcoming year
  • And more

Resources:

Connect with Geoff Hakim: 

Connect with Kirk Loury:

About Kirk Loury: 

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.

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A Guide To Selling Your Business with Jim Cascino

A Guide To Selling Your Business with Jim Cascino

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What does the process of selling your business look like?

In this episode, Jim Casino, founder and CEO of C-Suite Advisors talks about the process of selling a business and the importance of having realistic expectations. He discusses the need for clean financials and why every business owner needs to assemble a strong advisory team of service providers such as investment bankers, brokers, M&A attorneys, and CPAs. 

Discover what it takes to sell your business as Jim details:

  • Why business owners hire C-Suite Advisors to help with selling their business
  • The type of professionals business owners may need to lean on during the sale
  • The differences between selling to management versus selling to an outside firm
  • What internal resources are necessary to be on the deal team
  • What pushes deals across the finish line to closing
  • And more

Connect with Geoff Hakim: 

Connect with Jim Cascino:

About Our Guest: 

Jim Cascino founded C-Suite Advisors because he’s passionate about business, and finds great joy in helping CEOs, senior executives, and their companies achieve full potential. He helps leaders focus on what’s most important, make better, faster decisions, and accelerate their growth. He has decades of personal experience in the C-suite to draw upon, which allows him to deliver superior advisory and guidance to driven, high-powered CEOs. Over the course of his successful career, Jim has been the CEO of 10 private and public companies, and three non-profits. Additionally, he has been President of a management consultancy specializing in turnarounds and crisis management. He has served as Chairman or Director on 12 boards and had committee leadership in Executive, Governance, Finance, Long Range Planning, Compensation, and Merger and Acquisition committees. He has also driven and participated in 15 M&A transactions (6 Buy/9 Sell). Jim’s leadership style is positive, strategic, Socratic, and results-oriented. He takes pride in helping leaders find success, regardless of the challenges they face. When it comes to give-back and other interests, Jim is an active mentor to high-tech and life science start-ups through the Arizona Commerce Authority, has worked with orphans in Africa helping create sustainable support systems, led a global medical non-profit, fundraised professionally for a White House peace initiative, and continues to work in animal rescue. He is additionally a winning competitive sailor and served as Commodore of St. Francis Yacht Club.

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Preparing for Changes in Estate Tax Laws with Jerry Vanderzanden, CLU, ChFC

Preparing for Changes in Estate Tax Laws with Jerry Vanderzanden, CLU, ChFC

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Are you prepared for the ticking time bomb of estate tax laws?

In this episode, Jerry Vanderzanden, CLU, ChFC, delves into his expertise in insurance planning and discusses how insurance specialists can contribute to advanced planning areas such as estate planning. He shares his advice on how investors can prepare for the upcoming changes in estate tax laws in 2026 and the importance of reevaluating estate plans to understand the implications of those potential changes.

Jerry discusses: 

  • Why he specializes in insurance and what he can do for financial advisors and their clients
  • How insurance specialists get involved in advanced planning areas like estate planning
  • What the estate planning cliff is
  • How investors can prepare for the sunsetting estate tax laws in 2026
  • And more

Connect with Geoff Hakim: 

Connect with Jerry Vanderzanden:

About Our Guest: 

Jerry Vanderzanden, CLU, ChFC is an insurance planning specialist. Prior to resuming his professional insurance solutions and consulting activities, he held executive roles at major insurance companies and senior leadership roles at a broker-dealer, a general agency, and a national insurance marketing organization covering a wide range of areas such as insurance, distribution, product management, and advanced planning.