Tag Archives: Legacy Planning

Entitlemania with Richard Watts (Ep. 25)



Legacy planning is much more than transferring money from one generation to the next. It’s also about transferring values. If you simply “give” the money to your children, they might lack the wisdom, grit, and satisfaction of accomplishment that only struggle and adversity can bring.

In this episode, Duncan MacPherson joins Richard Watts, author of Entitlemania: How Not To Spoil Your Kids, And What To Do If You Have! Having been the wise counsel to many of America’s wealthiest families, Richard shares how you can help your clients prepare their children for the real world, instead of spoiling them with free money.

Richard discusses:

  • How to prompt wealth transfer conversations that your clients might not like
  • Why first-generation earners should not deprive their children of experiential learning
  • Real-life examples of families who have adopted the “tough love” approach
  • How to take your relationship management to the next level
  • And more

Resources:

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Promotions:

About Our Guest:

Richard Watts, lawyer, author, columnist, speaker, and problem solver, is the wise counsel to many of America’s wealthiest families. They rely on him to guide their families and journey through the rapids of life. From behind these castle walls, Richard provides the wisdom and counsel to avoid the pitfalls of excess and entitlement. The founder of Family Business Office ® (“FBO”), Richard was admitted to practice law in 1982 and is an alumnus of the Harvard Business School. He has appeared on numerous television programs and authored articles as an expert on how money often complicates the “simple life”. Author of Fables of Fortune: What Rich People Have That You Don’t Want, and Entitlemania How Not To Spoil Your Kids, And What To Do If You Have!




How To Fulfill Your Clients’ Deepest Estate Planning Needs with Julia Norman and Tom Deans, Ph.D. (Ep. 20)



Do you know what’s keeping your clients up at night? For a lot of them, it is this question, what happens to their hard-earned wealth when they pass away?

In other words, it’s the absence of an estate plan.

In this episode, Duncan MacPherson speaks with Julia Norman, associate lawyer at Pushor Mitchell LLP, and Tom Deans, Ph.D., intergenerational wealth expert, speaker, and best-selling author of “Every Family’s Business” and “Willing Wisdom.” Julia and Tom explain how advisors can re-imagine estate planning for their clients to ensure a stress-free wealth transfer that minimizes future family conflicts.

Julia and Tom discuss:

  • The main reasons why your clients might be delaying estate planning
  • How to make estate planning highly process-driven and collaborative
  • How family estate planning meetings can help retain your clients for multiple generations
  • Why advisors should create their wills first before helping clients
  • And more

Resources:

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Promotions:

About Our Guests:

Julia Norman is an associate lawyer with Pushor Mitchell practicing in the areas of civil litigation, family law, estate planning and estate administration. Prior to going to law school, Julia rode for the Canadian Equestrian Team in the sport of three-day eventing, training and competing throughout North America. Outside of the office Julia can be found spending time with her family, riding her horse, water skiing, or enjoying one of the many activities that the Okanagan has to offer.

Tom Deans, Ph.D.’s research and thought leadership on the subjects of wealth transfers, preparing heirs and family dynamics has made him an in-demand speaker and webinar presenter. Since the release of his first book in 2008, Tom has delivered more than 1000 paid speeches in 25 countries. He has also provided advanced training to advisors employed by the world’s largest financial institutions, law firms and accounting firms. Dr. Deans is also the Founder of the Willing Wisdom Index™ a new digital client engagement tool for advisors to share with prospects and clients.




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How To Become an Advisor for Life with Levi McMellian (Ep. 11)



Advisors often get asked by clients, “What will happen to me when you’re not around?”

If you don’t have an answer to it, it’s a sign to start your succession planning.

In this episode, Duncan joins Levi McMellian, CPA, AIF®, CEO, executive director, and founding partner at CFO4Life to uncover the secret to building a sustainable practice and scaling your business organically.

Levi discusses:

  • Why adversities are an opportunity in disguise for deeper client relationships
  • How to avoid a growth plateau through effective legacy planning
  • The importance of branding your process (instead of a single advisor)
  • The PSP mindset for identifying right-fit clients
  • And more

Resources: 

Connect With Duncan MacPherson:

Connect With Levi McMellian:

About Our Guests:

As CEO and managing director of CFO4Life, Levi McMellian oversees vital business operations and pursues new business growth. However, his primary focus remains on building personal client relationships. With a passion for listening and learning about his clients’ most important goals and dreams, Levi seeks to offer thorough and impartial individualized advice.

In addition to being a Certified Public Accountant and Accredited Investment Fiduciary®, Levi has a bachelor’s degree in business and accounting from Oklahoma State University. As a founding partner, Levi’s determination has developed CFO4LIFE from a start-up to an established and respected Texas Investment Advisory Firm. He was instrumental in sculpting its vision and the revolutionary concept of a comprehensive, team-oriented financial planning firm. Levi also pioneered the concept of financial wellness benefits for executives in large corporations and comprehensive advisory solutions for retirement plans.