Succession Planning for Business Owners, Financial Advisors - and INVESTORSSuccession Planning: 7 Critical StepsSuccession planning is a critical process that impacts both investors and their investment advisors. Understanding this process ensures that clients' financial interests are protected and that advisors can smoothly transition their businesses when necessary. Here’s a guide to help you and your investment advisor navigate this important journey together.Watch it on YouTube!
Purpose-Centered Financial PlanningFor Women of Wealth, Business Leaders, and Financial Planning Professionals Purpose-Centered Financial Planning: Aligning Your Financial Goals with Your ValuesIn today's complex financial landscape, many individuals and business owners struggle to find financial advice that truly aligns with their values and long-term goals. Purpose-Centered Financial Planning aims to bridge this gap by focusing on What Matters Most to clients, offering a holistic approach that integrates their personal and professional aspirations.Watch on YouTube
Max Dixon Inspired Library for Doug Carter, The Brazos River, and Mother's DayThe Salty Advisor Podcast May 10, 2024Season 3Episode 1•Introducing The Doug Carter Library•The Brazos River Update •Happy Mother’s Day•What’s NextExecutive Life Coaching for Women of Wealth, Business Leaders, and Financial Planning ProfessionalsEpisode PageWatch on YouTube - Click HereIn this season of The Salty Advisor Podcast, we pay tribute to the life-changing principles imparted by our mentor and Executive Life Coach, Doug Carter. For almost 20 years, I have been a part of the Doug Carter Summit along with a beautiful community of Financial Planning Professionals. We’ve all had the privilege of one-on-one executive coaching sessions with Doug throughout our careers.
30 Days to Make Your Money Count Over the last decade a small, secret group of Jesus Followers have been working to raise up a new breed of wealth managers. This special group of wealth managers is focused on helping people create a better plan for using their money, to make a difference. To make a difference in their communities. To make a difference in culture. To make a difference, in the world. And, as always, to make a difference in the lives of the people they love. We all know, that true wealth, is not about having more toys and trinkets. True wealth is about influence, and impact. Money is tangible, but money is also emotional in nature. It's necessary for the exchange of goods and services, but money is also, often, what divides spouses and families. Money is a primary source of permanent scars among loved ones. It's used to rebuild entire nations and their infrastructure, but money is equally vitalto support the poorest among us, for food and shelter.If you're a Financial Advisor, and if you want to learn more about our special group of financial influencers, join me, on The Salty Advisor Podcast. In each episode, we take a fresh dive into the principles, and the process, of building wealth. If you're ready to take your Financial Planning Process to the next level, Join Us Today.Watch this Video - click here!
Client Onboarding ProcessWelcome to BayRock! Our Client Onboarding Process is designed to set the stage for your financial success. Our MissionAt BayRock, we’re dedicated to helping individual investors, families, and business owners manage the risk and opportunity of everyday life, recover from the unexpected, and realize their highest purpose. We’ll be here every step of the Financial Planning Process, including the client onboarding process. Let’s take a few minutes to highlight the first steps we employ to ensure a smooth and seamless transition to help you get started as a new BayRock Client.Step 1: Quick Call To Kick ThingsOnce you’ve decided that you’re ready to start working with us, we’ll schedule a quick call to go over the next steps and review all the information that’s already been gathered. This helps us to know if we’re missing anything so we can start preparing your paperwork to get the ball rolling.Step 2: Get Your Risk NumberTo initiate the Financial Planning Process, you will complete a quick risk questionnaire. This questionnairecomprises a series of targeted questions designed to evaluate your financial goals, investment knowledge, time horizon, and risk preferences. By analyzing your responses, RiskAlyze generates valuable insights into your risk tolerance and creates Your Risk Number. Click here to Get Your Risk Number.Watch the Video - Click Here!
What is Fiduciary Advice?What is Fiduciary Advice by InvestopediaWhat is Fiduciary? Let's Ask ClarkIndependent Fiduciary Advice vs. Financial AdvisorFiduciary Advice vs. Financial Planning EducationFiduciary Advice vs. Financial Coaching Independent Fiduciary Advice Fee StructureHidden Fees and Conflicts of InterestFiduciary Advisory Client OnboardingClient Onboarding Risk ToleranceClient Intake FormsClient Onboarding Legal DocumentsClient Onboarding AgreementsFiduciary Advice and Advisor CoordinationThe Financial Planning Gap AnalysisWatch the Video - Click Here!
Missional Money Membership Offer for Financial AdvisorsMissional Money Membership for Financial Advisors. Get full access to our RightCapital Planning Portal, all Premium Courses, What Matters Most, The Blueprint, and much more. Lock in our introductory price of $24.95 per month.
Bucket List: buck·et listINFORMAL nouna number of experiences or achievements that a person hopes to have or accomplish during their lifetime."making this trip is the first thing on my bucket list"What's On Your Bucket List?Do you have a Bucket List? Do you have a plan for your Bucket List?3 things I have on my Bucket ListClick here to watch this episode on YouTube!
Asking for ReferralsIn today’s episode, I'll be talking with my friend Mark Pace about The Referral Multiplier. Over the years, we've been blessed to get a steady stream of referrals from clients, friends, and associates. But "Asking for Referrals" is honestly something I've been hesitant to do for most of my career. In this interview, I learned a lot about myself and some of the reasons I am hesitant when it comes to Asking for Referrals.
Asking for Donations Requires SkillAsking for Donations requires skill, in this episode we'll share some tips, tools, and strategies for Christian Missionaries who need a better approach to Asking for Donations.Does your Christian Missionary friend need a better approach when Asking for Donations? For anyone who wants to overcome your fear of asking for donations, or just become far more successful in asking for donations, here are a few tools, tips and strategies from my own experience and a couple of experts. Asking for donations is an essential skill for anyone trying to build support for a ministry. In this episode you will discover the power of community, alternative routes to reach a larger audience, and creative approaches to fundraising success.Click here to get resources mentioned in this episode.
QuickStart Financial Planning by BayRockQuickStart is to BayRock what Gmail is to Google. It’s FREE and loaded with value. Gmail began by Invitation Only. If you received a link to one of our QuickStart videos, YOU’RE INVITED to Subscribe to BayRock's FREE QuickStart Planning Group. Upgrade to Fee Based Financial Planning whenever you're ready!Gmail QuickStart StoryQuickStart is to BayRock what Gmail is to Google. When did you first hear about Gmail? Back in 2005, I had a friend (Toby Wise) who sent me an email to let me know that he had discovered this really helpful resource called Gmail. After he opened his Gmail account, he was invited (by Google) to send out 25 email invitations to his friends. I received one of those Gmail invitations and it could not have come at a more perfect time. I just posted this video with my Hurricane Katrina story and how Gmail gave me the ability to make over $100,000 and pay off my house in about 6 months.SMARTER Strategies and Better ResultsFee Based Financial Planning by BayRock delivers Smarter Strategies and Better Results because our planning process is simply SMARTER:S - SignUp To Begin M - Meeting Your CFP® ProfessionalA - AnalysisR - RecommendationsT - TeamworkE - EvaluationR - Reevaluate and ReviseS - SignUp To Begin Schedule Introductory Meeting AnytimeMeet Your CFP® ProfessionalLearn more about Fee Based Financial Planning at BayRockBooking Link: CFPConsult.comM - Meeting Your CFP® ProfessionalSchedule Discovery Meeting (typically 60 – 90 minutes)During this 90 minute Discovery Meeting, our Certified Financial Planner™ professional will get crystal clear on your financial goals, needs, and concerns.Before the Discovery Meeting, we will ask you to complete our “Client Intake Form” and we will set up your secure document vault.Complete Client Intake Form(click here to download PDF)a...
Day 7: Clarifying What Matters Most - to You 📽‼️Welcome to Day 7 of "30 Days to Make Your Money Count." Today, we embark on a journey of self-discovery and clarity as we explore the importance of defining what matters most to you.Click Here to Download Chapter 3 Powered by Purpose
Meet The Millionaire Next DoorThe Millionaire Next Door was written by Thomas J. Stanley and William D. Danko. The Millionaire Next Door was originally published in 1996.The book explores the concept of wealth accumulation and challenges common misconceptions about millionaires.The authors conducted extensive research to understand the characteristics, habits, and lifestyles of millionaires in the United States.The main premise of the book is that many millionaires are not the flashy, extravagant individuals often portrayed in the media.Instead, the millionaires next door tend to live modest and unassuming lives. The authors identify seven key characteristics of these “millionaires next door”:Frugality: Many millionaires are diligent about controlling their expenses and living within their means.Savings and Investing: Millionaires focus on saving a significant portion of their income and investing wisely. They prioritize long-term financial goals over short-term consumption.Education: Education is highly valued among millionaires. They tend to be lifelong learners and invest in their own knowledge and skills.Entrepreneurship: A significant portion of millionaires are self-employed or own small businesses. Entrepreneurial ventures have contributed to their financial success.Avoiding Debt: Millionaires tend to avoid excessive debt and are cautious about taking on financial liabilities.Ownership of Appreciating Assets: Millionaires often invest in assets that appreciate over time, such as real estate, stocks, and businesses.Discipline and Persistence: Achieving millionaire status requires discipline, hard work, and perseverance over the long term.Watch the Video - Click Here!
Amazon Employee Investment StrategiesHey Amazon employees, welcome to an enlightening episode of The Missional Money Podcast. Today, we're exploring Amazon 401k Optimization Strategies with an eye on maximizing returns and minimizing risk. Back in 2019, Nick had $100,000 invested solely in the VANGUARD TARGET 2040 Blended Fund. However, after meeting with me (Jim Munchbach, CFP® Professional, for a quick Financial Planning Review, I suggested that Nick consider putting a couple of my favorite investment strategies to work in his Amazon 401k plan. I wanted to test my marketing team with our new army of AI soldiers (too many to list here in this post, much more to come in future posts about AI and the AI Tools we use at BayRock Financial). Watch this Video in YouTube!
Investment Scams involving cryptocurrencyAt BayRock, we’re committed to helping you protect your assets. One way we do that is by raising awareness of the increase in fraudulent investment schemes (“scams”) involving cryptocurrencies and digital assets. While investing involves taking some risks, being scammed shouldn’t be one of them. What do Investment Scams look like? Investment scams target investors by promising quick, guaranteed returns. Although “investment sales pitches” vary, using fraudulent cryptocurrency investment opportunities to entice targets is a common approach. Once targeted investors indicate interest, they are often instructed to wire funds abroad or to a third party’s personal account, or to transfer cryptocurrency. Fake websites and/or applications often create the illusion of a legitimate trading or investment platform and gain trust. However, once funds have been transferred, they are difficult to trace and retrieve. Investment Scams 5 Red Flags “Guaranteed” high investment returns, supposedly with little or no risk, and sounding too good to be true.Unlicensed or unregistered sellers. Use Investor.gov to check out the background of anyone offering you an investment in securities.Skyrocketing account values. Investments that appear to rapidly increase in value are often fake.Fake testimonials. Investment Scams or Scammers often pay people to provide fake reviews, so never rely solely on testimonials in making an investment decision.Fake contacts. Take caution if someone approaches you through social media with an investment opportunity. Pretending to be a friend or to have a mutual acquaintance is a common tactic used to gain trust. Schwab Investor ResourcesSet up your account alerts to always get notified when activity occurs in your account.For more security tools and steps you can take, visit our SchwabSafe® to view our latest resources and learn more about how you can safeguard your personal information and assets. And while you’re at it, check out Schwab's Security Knowledge Center.
SALTY Advisor Podcast Launching Soon!SALTY Advisor Podcast will launch later this summer but first we have to get the show published in iTunes, Stitcher, Amazon Music, Spotify, and everywhere podcasts are played. Watch VideoFor Financial Advisors OnlyMaybe you've heard of the Missional Money Podcast where we help individual investors, families, and business owners manage the risk and opportunity of everyday life, recover from the unexpected, and realize their highest purpose. At Missional Money we focus on financial planning issues and we offer a wide range of resources for students of personal finance at the Bauer College of Business at University of Houston. SALTY Advisor Podcast will focus on Financial Advisors, specifically young Financial Advisors.What if I'm an old, salty advisor?It's okay! As long as you identify as a "young Financial Advisor" you can be a part of the new community!Much more is coming your way very soon. For now, thanks for listening to our Launching Soon Episode.