Retirement Inside Out with Tom Lamendola

In this week’s episode, we welcome back Tony Parish, CFA, CQF, Chief Investment Officer at Alphastar Capital Management, for another insightful conversation about the U.S. economy and market trends. This episode offers an exclusive preview of our upcoming State of the Markets presentation. Stay tuned as Tony sheds light on the overarching theme for 2024: the incredible persistence and resilience of the U.S. economy and markets. Despite global challenges and inflation concerns, the U.S. economy has demonstrated unparalleled strength and recovery, which is reflected in this year’s market performance. Join us as Tony dives into the data, discusses the impact of elections on the markets, and offers insights on inflation trends. Then, at the end of the episode, he’ll also share some exciting updates from Alphastar, including their new Orion Enterprise Experience, which is launching this year. Here’s some of what we discuss in this episode: The U.S. economy's impressive resilience and strength in 2024The lack of a strong correlation between U.S. elections and market performanceCommon misconceptions surrounding inflation + managing expectations about its impact on daily expensesExciting updates and projects from Alphastar this year Learn About FIG: https://www.figmarketing.com 800-527-1155

In this episode, we’re joined by the one and only Dave Hostetler to talk about the evolving world of mergers and acquisitions (M&A) for independent financial advisors. He’s here to share the insights he's gained from talking with small business owners, highlighting current trends like friend-to-friend deals and internal succession plans becoming more popular. Join us as we discuss key factors influencing the valuation of advisory practices and provide some helpful insights for buyers and sellers preparing for successful transactions. This conversation also touches on some broader practice management topics such as team building, talent acquisition, and the importance of structured training programs for new hires. Dave talks about how process manuals and standardized procedures can boost efficiency and create a positive workplace environment. Whether you're considering selling your advisory practice, exploring growth through acquisitions, or optimizing your operational framework, this episode is one you don’t want to miss! Here’s some of what we discuss in this episode: The increasing trend of internal transactions over open market salesKey factors that can enhance a business’ valuation for potential mergers and acquisitionsThe lengthy and complex nature of M&As + ensuring a good fit in terms of values, processes, technology, and moreThe importance of training and process manuals for new staff in financial advisory practicesThe considerations and challenges of hiring associate advisors Learn About FIG: https://www.figmarketing.com 800-527-1155

As the financial services industry continues to evolve, staying ahead of the curve means engaging with the next generation of clients and advisors. Today we are joined by FIG’s Chief Strategy Officer, Nicholas Ross, to discuss the transfer of wealth to younger generations and the integration of younger clients and advisors into financial firms. One key takeaway from this discussion is the importance of understanding what wealth means to the next generation. While incorporating technology into the planning process is crucial for attracting the right talent and clients, it is equally important to understand where younger demographics spend their time and what they value. By asking the right questions, you can develop more comprehensive strategies that resonate with the next generation. Tune in to learn more! Here’s some of what we discuss in this episode: The evolution of next-gen wealth managementEngaging with the next generation + understanding their financial needsIntegrating technology seamlessly into client interactionsStrategies for attracting and retaining young talent and clients Learn About FIG: https://www.figmarketing.com 800-527-1155

For the first ever time, we’re welcoming Keith Burger onto the Retirement Inside Out podcast! He recently joined the FIG team as the Executive Vice President and Head of Institutional Channel Sales. With over two decades of experience in the financial services industry, he brings a wealth of knowledge to the FIG team. Tune in as we chat with Keith about his extensive background, including his tenure at AIG Corebridge and Luma Financial Technologies, and what led him to join FIG. Then, we’ll dive into the opportunities and challenges facing insurance distribution in the broker-dealer and institutional channels, especially in light of evolving regulations. Join us as he shares his vision for the future and outlines how FIG is working to meet the unique needs of broker-dealers. Here’s some of what we discuss in this episode: Keith's journey to becoming EVP at FIG and his vision for institutional channel salesThe importance of a broker-dealer-first strategy in today's regulatory environmentHow FIG is helping broker-dealers streamline and enhance their insurance planning models Learn About FIG: https://www.figmarketing.com 800-527-1155

Ever wondered what it's like to be on the front lines of the financial services industry as an intern? We’ve got just the conversation for you this week! We are joined by Graham Wald and Paul Matanovic, our 2024 FIG spring interns in today’s episode. Tune in as we discuss their backgrounds, experiences, and takeaways from their internship here at FIG. From hands-on learning to relationship building, Graham and Paul have gained valuable insights into various aspects of the industry, from product knowledge to communication and networking skills. Stay tuned for a unique glimpse into the importance of internships and early talent development in shaping the future of the financial services industry. Here’s some of what we discuss in this episode: Graham and Paul’s backgrounds + what led them to the financial services industryThe importance of early talent strategy and internships in the financial industryPaul and Graham’s key learnings from this internship experience at FIGStaying open-minded, continuously networking, and embracing learning opportunities throughout your career Learn About FIG: https://www.figmarketing.com 800-527-1155

Join us for a special episode featuring David McKnight, our partner from Power of Zero. He’s here to talk about the upcoming Heroes of Zero conference in Nashville on May 16 and 17 at the Renaissance Hotel. Stay tuned as David shares the list of incredible financial experts that are going to be featured this year and discusses the details of the event. From understanding the latest tax law changes to implementing the most effective marketing strategies for your business, this event will bring you some of the most cutting-edge retirement planning education in the industry. This is an excellent opportunity to network with peers, learn from the best, and equip yourself with the knowledge to shield your clients and prospects from the impact of rising taxes. Stay tuned to learn more! Here’s some of what we discuss in this episode: What is the Heroes of Zero conference and who will be speaking?What topics will be covered during the event?How can attending the conference benefit financial professionals and their practices?How much does this event cost to attend and how do I register? Register for Heroes of Zero https://ca.heroesofzero.live/ Learn About FIG: https://www.figmarketing.com 800-527-1155

In today’s episode, we’re focusing on a topic that is increasingly vital for our clients: long-term care planning. Joining us on the show is Lily Vittayarukskul, the CEO and founder of Waterlily Planning. We’re so excited to partner with Waterlily and introduce you to its innovative approach to long-term care planning. Lily's personal journey, sparked by her aunt's battle with terminal cancer, led her to develop a solution aimed at easing the financial and emotional burdens of aging care. Waterlily harnesses the power of AI and machine learning to offer clients a better understanding of their long-term care needs, including cost projections and potential family involvement. Tune in as Lily discusses the role of predictive analytics in retirement planning and how Waterlily empowers advisors to better serve their clients' needs. Here’s some of what we discuss in this episode: Lily's journey and motivation for entering the long-term care industryWhat is Waterlily and how does it help advisors with long-term care conversations?The importance of holistic planning and incorporating long-term care considerations into retirement strategiesWhat’s in the future for Waterlily? Resources for this episode: Waterlily Planning https://www.joinwaterlily.com/ Lily on Linkedin https://www.linkedin.com/in/lily-vittayarukskul/ Learn About FIG: https://www.figmarketing.com 800-527-1155

Welcome back to the Retirement Inside Out podcast! Hamilton Morales, the Senior Vice President of Social Security here at FIG, is with us for this week’s episode. Amidst a busy start to the year, he has some important updates and insights to share surrounding Social Security. Listen in to learn how Hamilton assists financial professionals in staying informed about Social Security changes, and the various Social Security events and seminars he is available to host. He’ll discuss the latest adjustments to Social Security for 2024, including increases in maximum taxable earnings and changes to the earnings test exemption amount. He’ll also shed light on the complexities of Social Security taxation and reveal a surprising detail about state taxes on Social Security benefits in certain states. Don’t miss this enlightening discussion! Here’s some of what we discuss in this episode: Getting in touch with Hamilton to speak at your eventThe maximum taxable earnings for Social Security has increased in 2024The earnings test exemption amount has increased from $21,240 in 2023 to $22,320 in 2024While the COLA dropped from 8.7% in 2023 to 3.2% in 2024, Medicare Part B premiums increased by almost 6%Some states impose taxes on Social Security benefits + educating clients on federal and state taxationUnderstanding spousal benefits, widows' benefits, and benefits for children Learn About FIG: https://www.figmarketing.com 800-527-1155

We’re very excited to have our friend, Mark Gaffney, on the show today. Mark is the founder and owner of Mark Edward Gaffney (MEG), a boutique consulting and marketing firm for the financial services industry, and partner of FIG. In today’s episode, he’s joining us to talk about the data-driven marketing approaches that MEG uses to generate significant returns for financial advisors. Stay tuned as Mark shares some of MEG’s success stories, demonstrating the power that even the smallest of tweaks to your marketing process can have. You’ll also get a sneak peek into the upcoming launch of FIG TV, powered by MEG’s turnkey marketing system. Join us to learn more about this process and the incredible benefits that TV marketing can bring to the right advisor! Here’s some of what we discuss in this episode: Mark’s history in marketing for financial advisors + the impact of minor adjustments to your marketing processThe importance of paying attention to data in the current business landscape and being coachableThe power of events (seminars and webinars) and database management marketing for financial firmsThe upcoming launch of FIG TV, the right candidates for this kind of service + the limited slots available with MEG Learn more about MEG https://markedwardgaffney.com/ Learn About FIG: https://www.figmarketing.com 800-527-1155

We are delighted to welcome Amanda Sharratt, the Chief Operating Officer and financial advisor at Whitaker Myers Wealth Managers Ltd, to the show. We recently connected with Amanda and are excited for her to share her journey into the financial services industry, shed light on her role as COO, and share some valuable tips for our listeners. Listen in as Amanda discusses how Whitaker Myers leverages technology, including tools like PreciseFP, to streamline their processes effectively. We’ll also explore the firm’s team structure and talent acquisition strategies, which have been instrumental in attracting top-notch talent and staying ahead in the industry. Amanda brings some awesome insights to the table- this is one you don’t want to miss! Here’s some of what we discuss in this episode: How Amanda found her passion for finance and pivoted from dentistry to financial advising with the Whitaker Myers teamWhat Amanda’s role and responsibilities are as the Chief Operating Officer at Whitaker MyersHow Amanda and her team use the application PreciseFP and workflows in Redtail CRM to stay organized and efficientWhitaker Myers’ office structure + noteworthy recruitment strategies that include internships, a dedicated careers page, and utilizing platforms like Schwab's RIAConnect Learn more about Amanda and Whitaker Myers Welath Managers Ltd: https://www.whitakerwealth.com/ https://www.whitakerwealth.com/our-team/amanda-sharratt Learn About FIG: https://www.figmarketing.com 800-527-1155

Brian Herriot is the founder of Choosy Consultant. He’s joining us on the podcast today to discuss his role as a lifestyle and wealth coach, working with successful individuals like consultants, coaches, and small business owners, to help them transition to a choosier life and achieve financial freedom. In our conversation, Brian shares his personal journey to financial freedom and how it led him to establish Choosy Consultant. He’ll share more about his unique coaching approach, which includes a one-week intensive session covering topics such as vision-setting, savings and investing, transitioning work to part-time, and emotional readiness. Tune in to learn more about how Brian helps individuals design a remarkable life and achieve financial freedom on their own terms! Here’s some of what we discuss in this episode: Brian’s transition from a traditional full-time job to becoming a lifestyle and wealth coachA need for a new sense of purpose and belonging at age 40What it looks like to participate in Brian’s coaching programHow to get involved with Brian’s coaching program + his financial freedom quiz and private podcast Learn more about Brian and Choosy Consultant: https://www.choosyconsultant.com/ The Financial Freedom Accelerator Quiz https://brian-xecsfp1i.scoreapp.com/ Choosy Consultant Secret Podcast https://app.helloaudio.fm/feed/c7345ee0-08a2-4985-a353-6c168493592f/signup

Leslie Lipscomb, Senior Vice President at FIG, joins us for this week’s episode. She’s here to share her inspiring journey since joining the organization in 2006, starting as a sales associate and progressing to her current role. Join us as she highlights the company's resilience and growth after the passing of its thought leader, Bo Johnson, and her passion for building strong relationships, advocating for advisors, and uplifting women in the field. We’ll dive more into Leslie’s role as SVP, which focuses on empowering and serving advisors to build efficient and refined firms and learn more about her involvement in the book Financial Trendsetters- an anthology featuring stories from 15 women in financial services. Don't miss the pre-order details for the book below and this great conversation with Leslie! Here’s some of what we discuss in this episode: Leslie’s 20-year journey at FIG from a sales associate to Senior Vice President + the impact of Bo Johnson’s mentorshipWhat Leslie’s role as the Senior Vice President at FIG entailsLeslie’s passion for building relationships with people in the field + empowering women in financial their careersLeslie’s experience contributing to the book, Financial Trendsetters + receiving the Bo Johnson Award in 2023 Pre-order the book, Financial Trendsetters https://jessicaweaver.com/financial-trendsetters/ Learn About FIG: https://www.figmarketing.com 800-527-1155

We’ve got a great conversation for you today! Ben and Kaitlin Schrock, two of our elevate coaches here at FIG and founders of BA Schrock Financial Group, are here to dive into their journey of building a successful RIA firm from the ground up. They’ll discuss the challenges they faced, the pivotal moments that shaped their journey, and the strategies they employed to achieve remarkable growth. Stay tuned to learn how they navigated the initial struggles of business ownership, built a highly efficient team, and implemented effective marketing strategies to propel their business to new heights. Ben and Kaitlin have some powerful insights for financial professionals looking to scale their businesses and cultivate lasting success. If you’re looking to take your practice to the next level, this episode is sure to inspire! Here’s some of what we discuss in this episode: Ben and Kaitlin’s journey into financial advisory services + how they’ve worked to propel BA Schrock Financial Group into successNavigating the transition to independent advisory + how Ben and Kaitlin have found a balance between corporate training and entrepreneurial spiritHow BA Schock’s marketing efforts have evolved + the importance of nurturing client relationships and community involvementThe value of opportunistic hiring + bringing in individuals who align with your firm’s goals Learn more about Ben and Kaitlin: https://baschrock-fg.com/team/ Learn About FIG: https://www.figmarketing.com 800-527-1155

Arron Price, the Chief Operating Officer at FIG, joins us today for our annual beginning-of-the-year prognostication. Get ready for insights into what lies ahead in financial services, InsurTech, data culture, and operations. We’ll look back on the predictions and forecasts he made for 2023 and explore how the industry has evolved. To kick off our discussion, we’ll revisit Arron’s forecast that the “great resignation” would be forgotten in 2023 and chat about the evolving mindset of different generations in the workforce. Then, we’ll focus on the industry's remarkable operational scalability achievements in 2023 and shift toward real-time data access, transparency, and ultra-personalization in the world of marketing. Here’s some of what we discuss in this episode: Arron’s prediction that the “great resignation” would be forgotten in 2023 + the mindset shifts of both younger and older generations regarding retirement and workThe impressive performance of insurance operations in 2023+ the growing role of AI in achieving greater efficienciesWhy real-time data access is the next crucial step in operational efficiency The shift towards comprehensive marketing plans and ultra-personalization in the coming years Learn About FIG: https://www.figmarketing.com 800-527-1155

Tony Parish, CFA, CQF, the Chief Investment Officer at AlphaStar Capital Management, is with us for today’s episode. He joins us twice a year to talk about the state of the market and share his halftime report. Stay tuned as we dive into market updates, the US and world economy, and get a glimpse into Tony’s market forecasts for 2024. We’ll kick off this episode by reflecting on the remarkable resilience of the economy and the markets in 2023. Then, we’ll talk about the impact of inflation on our day-to-day expenses, the likelihood of market surprises in the upcoming year, and discuss the evolving landscape of artificial intelligence in the financial industry. Here’s some of what we discuss in this episode: The market’s unexpected resilience in 2023 + how economists measure inflation and how consumers perceive itWhy investors may face disappointment in 2024 with more modest returnsUnforeseen events and surprises may play a significant role in shaping the economic landscape throughout the yearHow politics will impact the markets globally in 2024AI’s impact on the financial markets Learn About FIG: https://www.figmarketing.com 800-527-1155

We're excited to feature David Graham, the Director of Advanced Strategies at FIG, on the podcast today. David plays a crucial role in educating advisors on advanced planning concepts that go beyond day-to-day financial planning. Today, he's here to give us insights into the upcoming estate planning webinar series hosted by FIG's Advanced Strategies division. This series covers everything from the basics of estate planning to intricate strategies involving trusts, life insurance, and tax-efficient transfers. The aim is to provide advisors with a thorough understanding of advanced planning techniques so that they can better serve their clients. If you're curious about how advanced strategies can elevate your financial planning expertise and want to learn more, stay tuned! Here’s some of what we discuss in this episode: The estate planning topics that season 2 of David’s advanced strategies webinar series will focus onHow this series is designed to help advisors improve their expertise and offer valuable solutions to clients of all net worthsThe process for advisors interested in attending the estate planning seminar series Learn About FIG: https://www.figmarketing.com 800-527-1155

Welcome to the first official episode of 2024! We’re thrilled to be joined by Lisa Crosta, CFP®, CPA, MBA, this week, the Director of Wealth Management at BPP Wealth Solutions. She’s here to share her journey into financial services and insights into BPP’s comprehensive financial planning process, collaborative team structure, and Security Income Plan®. Lisa also shares her passion for educating and empowering female investors. As an all-women firm, BPP Wealth Solutions is uniquely positioned to cater to women's financial needs and ensure they are well informed about their investments, income, and retirement plans. Here’s some of what we discuss in this episode: Lisa’s financial career + passion for developing intimate client relationshipsBPP Wealth Solutions’ process, which starts with a comprehensive financial plan and goes on to build a roadmap for building, protecting, and preserving wealthBPP Wealth’s collaborative process, training efforts, and note-taking proceduresWhy BPP chose to start charging for their financial plans + the value this change has brought to their clientsBPP Wealth Solutions' commitment to financial awareness among female investors Learn About FIG: https://www.figmarketing.com 800-527-1155

As the world continues to technologically evolve, staying ahead of the curve in the financial services industry has never been more crucial. Andrew Barnett, the Director of Technology Innovation at FIG, joins us on the podcast today to talk to us about his role and the important technology and business solutions being developed inside FIG. From the industry's race to modernize and embrace emerging technologies to the evolving intersection of wealth management and insurance, Andrew talks about the pressing need for a more seamless customer experience. Stay tuned as we explore the impact of tools like AI, share a behind-the-scenes look at the ongoing efforts to enhance the user experience, and reflect on the exciting yet demanding journey of the financial industry's technological evolution. Here’s some of what we discuss in this episode: What Andrew’s role entails, including collaboration with the engineering team to enhance the customer and client experience and integrating AIThe need for the insurance sector to catch up and modernize, the rapid growth of tools available for financial professionals, and creating a more seamless experience for users with a unified platformThe new platform that FIG recently rolled out + plans for the future to continue streamlining processes for financial professionalsFIG's attention to security and compliance as the industry continues to innovateThe rising prominence of AI in the insurance technology landscape Learn About FIG: https://www.figmarketing.com 800-527-1155

Hamilton Morales, our Senior Vice President and Social Security Specialist here at FIG, joins us for today’s episode. We love having him on once or twice a year to update our audience on what’s happening inside the world of Social Security. In today’s episode, we’ll discuss the latest news for Social Security in 2024, including the 3.2% cost of living adjustment, rising Medicare Part B premiums, and the importance of comprehensive retirement planning to combat inflation and changing financial landscapes. We also dive into the value of partnering with experts like Hamilton to provide clients with the best information and guidance on the ever-changing world of Social Security. Learn more about the presentations he offers, including Social Security seminars and webinars, as well as his new membership with the Society of Financial Awareness (SOFA) to offer even more educational opportunities for advisors and clients. Here’s some of what we discuss in this episode: Social Security COLA for 2024 is announced at 3.2%, which may not be sufficient to cover the rising Medicare Part B premiumsHow can retirees address the challenge of inflation and rising expenses?The Social Security presentations that Hamilton has been putting on this year + what’s to come in 2024The value of partnering with experts like Hamilton to provide clients with the best information and guidance regarding Social Security Learn About FIG: https://www.figmarketing.com 800-527-1155

This week we are joined by the founder and president of Illuminated Advisors, Anna Shea, to dive deep into the world of digital marketing in the financial services industry. She will discuss the path that led her to establish a boutique digital marketing firm, the power of personalized content, and share some insightful strategies to stay ahead in the rapidly evolving digital landscape. As Anna offers her unique perspective on what's hot within this dynamic realm, we also delve into the exciting possibilities of AI in marketing. You might be surprised to find out that you've been interacting with AI in your digital experiences for longer than you think. Thanks for listening and hope you enjoy the show! Here’s some of what we discuss in this episode: Anna’s career background + what inspired her to start Illuminated AdvisorsHow having a dedicated marketing or COO person in a financial advisory firm can improve efficiency + successAdapting to new marketing strategies and technologies while maintaining the personal touch that financial advisors provideThe importance of creating a personalized and resonating experience for website users through original and consistent content Learn more about Anna and Illuminated Advisors: https://illuminatedadvisors.com/ Learn About FIG: https://www.figmarketing.com 800-527-1155