Category Archives: Financial

Ep 39 – Robin Williams: How To Spot the Warning Signs of Suicide in Your Clients –– With Amanda Koplin



Today, David Lenok, senior editor at WealthManagement.com, is joined by Amanda Koplin, LPC, a mental health entrepreneur who is the founder and CEO of Koplin Consulting.

This episode focuses on legendary comedic actor Robin Williams’ tragic suicide and the shocking, unspoken truth about male suicide statistics. Notably, the victims –– namely middle-aged white men –– are a common client profile for many advisors.

David and Amanda delve into how advisors can help their clients by paying attention to their behavior. Advisors are not counselors by any means, but they are in a unique position to see changing behaviors that might pop up when a client has hardships with career, health, or finances. 

In this episode, you will learn:

  • Which risk factors and behaviors are associated with suicide
  • Why advisors are uniquely positioned to spot warning signs and changes in their clients’ behavior 
  • What resources you should have on hand to assist a distraught client
  • Why entrepreneurs are at a higher risk of suicide
  • And more!

Listen now to learn ways to spot behavioral changes that could be harmful to your clients.

Resources: WealthManagement.com | Koplin Consulting | Episode 10: Robin Williams Planned It Right — With Avi Kestenbaum


Ep 36 – Richard Pryor: Don’t Miss the Signs of Elder Abuse –– With Vivian Lee Thoreen



In this episode, David Lenok, senior editor at WealthManagement.com, is joined again by Vivian Lee Thoreen of Holland & Knight.  

The celebrity example in this episode is Richard Pryor, an American actor, writer, and one of the most influential standup comedians of all time. Richard was married five times and fathered seven children from six women. He was open about his personal demons with drugs and alcohol and, on top of all this, Richard had multiple sclerosis.  

All of these factors swirled into a perfect storm for a tragic case of elder abuse. 

Now, Vivian and David reveal the signs of elder abuse for every advisor to watch out for. They explain why advisors are in a unique position to see red flags and what actions to take if you suspect your client is being abused. 

In this episode, you will learn:

  • What red flags might indicate that your client is a victim of elder abuse
  • Giving gifts to a caregiver: Is there a right way for your client to do this?
  • How advisors are protected when filing an elder abuse report
  • What is meant by conservatorship, and whether your client can have more than one
  • And more!

Learn how to help your clients protect themselves and their families. Communication is key!

Resources:  WealthManagement.com | Holland & Knight


Ep 35 – Chadwick Boseman: Estate Planning Essentials for Clients With a Diagnosis –– With Jacqueline Bevilaqua



In this episode, David Lenok, senior editor at WealthManagement.com, is joined again by Jacqueline Bevilaqua, a tax, trust and estates associate at Katzy Korins.  

The celebrity example in this episode is actor Chadwick Boseman, who was best known for portraying heroes, specifically Black heroes, in films, such as “42,” “Get On Up,” “Marshall,” and, of course, the blockbuster superhero film “Black Panther.”

Drawing inspiration from Chadwick’s story, David and Jacqueline talk about estate planning essentials for clients who have a diagnosis. They also discuss the importance of having all estate planning documents in order and ensuring that key people are aware of them. 

In this episode, you will learn:

  • Estate planning considerations for clients who’ve been diagnosed with an illness
  • The purpose of three documents that are particularly relevant to people with a diagnosis: health care proxy, power of attorney, and living will
  • Reasons why clients might get married towards the end of their life, as it relates to their estate plan
  • Why key action people must be aware of estate planning documents and their location
  • The benefits of using the oft-misunderstood special needs trust 
  • Why some people keep their estate plans a secret
  • And more!

Tune in now to learn estate-planning must-haves for clients with a diagnosis. 

Resources:  WealthManagement.com | Katzy Korins LLP


Ep 34 – Luke Perry: Replenishing the Earth in a Mushroom Suit



In this episode, David Lenok, senior editor at WealthManagement.com, is joined again by Megan Gorman, founder of Chequers Financial Management, to discuss the perfection that was Luke Perry’s estate and funeral plan.  

American actor and teen idol, Luke Perry, was best known as “bad boy” Dylan Mckay on the TV series Beverly Hills, 90210. When you hear about Luke’s funeral instructions –– including his desire to be buried in a biodegradable mushroom suit –– it will become clear that he was a deep thinker who advisors can learn from when helping clients plan their funeral. 

In this episode, you will learn:

  • Why Luke Perry is an estate planning role model 
  • Why green funerals are a growing industry
  • Cost-effective and personal ways to plan a funeral
  • How to plan for and fund the expense of a funeral, as to not burden those left behind
  • Why advisors conversations with clients about funeral arrangements must go beyond discussing burial versus cremation
  • And more!

Learn how to help your clients plan for the end of their story!

Resources:  WealthManagement.com | Chequers Financial Management


Ep 31 – Death, Taxes, and Elvis Presley — With Paige Goepfert



You work hard for your money, so don’t let the government take it all when you die. 

This is exactly what happened to one of the most significant cultural icons of the 20th century, Elvis Presley.

In this episode, David Lenok speaks with Paige Goepfert of Andersen Global to explore the financial mishaps of the late and great Elvis Presley. Through the American singer’s story, David and Paige highlight key takeaway lessons that can help you better prepare your finances for your death.

In this episode, you will learn:

  • The many ways tax planning can help you reduce your estate’s tax bill
  • How Elvis was misled about his finances
  • Ways can interest rates aid in your planning
  • Why 2020 could be to best year to become more charitable
  • And more!

Tune in now and learn about the importance of tax planning and how it affects your financial future!

Resources:  WealthManagement.com | Andersen Global


Ep 30 – Kenny Rogers: Knowing When to Hold ‘Em (Top Prenup Tips for Advisors)



Most people believe their marriages will last forever. But whether their marriage endures or ends, it’s in your clients’ best interests to have a prenuptial agreement –– especially if the split isn’t amicable

In this episode, David Lenok, senior editor at WealthManagement.com, talks with Aviva Pinto, a managing director at Wealthspire Advisors. This episode is inspired by American singer-songwriter Kenny Rogers, who was famously married five times and had five children with four different partners. Now, Aviva and David dive into The Gambler’s finances and marriages to discuss how to help your clients get a prenup in order and navigate a divorce. 

In this episode, you will learn:

  • Why having a prenup would have saved Kenny Rogers a lot of money
  • How to broach the subject of prenups with your clients
  • Whether there’s room for flexibility in prenups
  • How to help your clients talk to their spouses about doing a prenup
  • Why the state you live in is important when it comes to splitting marital assets
  • And more!

Tune in now for tips to help your clients get onboard with doing a prenup.

Resources:   WealthManagement.com | Wealthspire


Ep 29 – Arnold Palmer: Investing in Wine Could Be Your Clients’ Hole in One



Are your clients thinking about investing in wine? Wine is a true portfolio diversifier, but there are a few things your clients should know first. 

In this episode, David Lenok, senior editor at WealthManagement.com, talks to Tom Gearing, CEO and co-founder of Cult Wines Limited, about investing in wine. This topic is inspired by golf pro and entrepreneur Arnold Palmer, one of the first major celebrities to lend his name to a wine label. Arnold Palmer’s wine was widely accessible to the common wine drinker. Meanwhile, today’s conversation delves into the world of more expensive and valuable wines and how you can help your clients navigate these investable commodities.

In this episode, you will learn:

  • What a savvy entrepreneur and marketer Arnold Palmer was
  • Why you must do your due diligence if you’re advising a client who’s interested in investing in wine
  • Why wine is a true portfolio diversifier
  • What kind of timeline one could expect before seeing a return on investment
  • What the first steps are to investing in wine 
  • And more!

Tune in now to learn how to best advise clients who want to invest in wine. 

Resources:  WealthManagement.com | Cult Wine


Ep 28 – Debbie Reynolds, Carrie Fisher, and Billie Lourd: Estate Planning for Collectibles



Collectibles have different values depending on who collected them, who owns them, and who wants them. 

In this episode, David Lenok, senior editor at WealthManagement.com, talks again with Sarah McDaniel, a CFA and managing director who heads the Wealth Strategies Group and Advanced Planning Centers at Morgan Stanley. Together, they discuss estate planning for collectibles. David and Sarah explore the case of actor Billie Lourd, who not only inherited a bulk of her late mother Carrie Fisher’s and grandmother Debbie Reynolds’s estates but also their large collections of Hollywood memorabilia. 

In this episode, you will learn:

  • The story behind the building and selling of Debbie Reynolds’s and Carrie Fisher’s memorabilia collections
  • What issues clients face when planning for collectibles or passion assets
  • How capital gains tax can affect the selling of collections
  • Examples of how price permanence varies across collectibles
  • What to consider before leaving collectibles to a museum
  • And more!

Learn how to help your clients plan for their collectibles!

Resources:  WealthManagement.com | Sarah McDaniel on LinkedIn


Ep 27 – Amy Winehouse: Reasons to Work With Millennial Clients (And How to Get Started)



The millennial generation is simultaneously the most talked about, sought after, and yet curiously underserved demographic in the financial planning industry.

In this episode, David Lenok, senior editor at WealthManagement.com, is joined by Douglas Boneparth, founder of Bone Fide Wealth. They discuss how today’s financial advisors can appeal to millennials –– and why bringing in younger clients is a worthwhile pursuit. This topic is inspired by Amy Winehouse, a Grammy-award winning singer-songwriter who died at 27 years old. Amy did not have a will. Her after-tax assets went to her parents, and her ex-husband is making a $1.4 million legal claim on Amy’s estate in a case that has yet to be adjudicated.

In this episode, you will learn:

  • The story of Amy Winehouse: how her lack of planning and early death impacted her estate
  • Why advisors are struggling to connect with millennials
  • What this generation is looking for when it comes to their financial lives
  • Reasons to empower young advisors to pursue millennial clients
  • How to link millennials’ experiences to their most relevant financial planning tasks
  • And more!

Tune in for actions you can take immediately to start attracting millennial clients. 

Resources:  WealthManagement.com | Bone Fide Wealth


Episode 26: How to Make Your Family Business Last –– With Mitzi Perdue



Only one-third of family businesses make it to the next generation. What are you doing today to help your family business last?

In this episode, David Lenok, senior editor at WealthManagement.com, has the pleasure of speaking with Mitzi Perdue, a businesswoman, author, and professional public speaker. Mitzi is also the daughter of Sheraton Hotel’s co-founders and wife to the late Chicken icon Frank Perdue. Now, Mitzi shares advice on how to develop a family culture that supports keeping the business in the family.

In this episode, you will learn:

  • What advisors need to focus on to encourage long-term family business success
  • Why Mitzi recommends hosting endowed family vacations
  • The purpose of an ethical will 
  • Tips for creating an inclusive family culture
  • And more!

Tune in now for this heartwarming conversation that’s filled with practical advice on how to develop your family’s culture. 

Resources:  WealthManagement.com | Mitzi Perdue | How to Make Your Family Business Last by Mitzi Perdue