Tag Archives: Women and their finances

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

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Dead Celebrity Ep 6 – Women and their Finances: Gloria Vanderbilt  — With Guest Michelle Smith, CDFA

A massive demographic shift is underway for women with money. As an advisor, are you equipped to help women take control of their finances?

 In this episode, David Lenok, senior editor at WealthManagement.com, speaks with Michelle Smith, a Certified Divorce Financial Analyst about women and money. Together, they unpack what advisors can learn from the life of Gloria Vanderbilt, who was a fashion icon, artist, author, actress, heiress, and socialite. Listen in and learn how you can help women take the reigns of their financial lives. 

In this episode, you will learn:

  • How opening the lines of communication is key to any relationship
  • Why prenups are a springboard for money conversations
  • What women often don’t realize about prenups
  • Why at least 25% of joint accounts become open to legal observation
  • How the advisor’s value proposition must change in this new paradigm
  • And more!

Tune in now and learn how to help women take control of their finances.

Resources: WealthManagement.com | Michelle Smith