Episodes

So, you’ve built a successful company. What comes next? In part two of this mini-series, Tim Scannell is joined once again by Stewart McMillan, diving further into the world of entrepreneurship and the impact it can have on society. Stewart recounts his experience with his father’s company and the lessons he has learned from it. In this episode, you will learn: How Stewart took over the reins of his father’s company The lessons Stewart learned while trying to sell the company The importance of ...

Starting your own business can be a daunting task. Yet it might just be what the world needs. In part one of this mini-series, Tim Scannell is joined by Stewart McMillan to discuss the impact entrepreneurs will have after COVID-19. Stuart recounts his experiences with his entrepreneurial father and the impact it had on his future within the business and beyond. In this episode, you will learn: How Stuart’s father started a business and the struggles they faced Advice Stuart has learned over the...

When it comes to your financial assets, transferring them to the next generation in succession can be a sensitive situation. In this episode of The Wealth Stream Podcast, Tim Scannell is joined by Susan Gellatly of BenchStrength Coaching to discuss methods and strategies for generational wealth transfer. They discuss Susan’s career as a coach and how she has helped young women navigate the corporate world. In this episode, you will learn: What relationship management is and how it can be used t...

Whether you are a business owner, CEO, financial advisor, or perhaps all three, having a group of like-minded professionals that you can reach out to for support is crucial when it comes to your success. In this episode of the Wealth Stream Podcast, Tim Scannell discusses the ins and outs of mastermind groups. You might be surprised to find that most successful entrepreneurs and advisors are strong advocates of these peer-to-peer mentoring groups. In this episode, you will learn: How to join a ...

When it comes to life insurance as an asset, there are a number of ways you can utilize it for your benefit. On this episode of The Wealth Stream Podcast Tim Scannell and special guest Kirk Hill give us the rundown on utilizing life insurance for advanced financial planning. In this episode, you will learn: Appropriate and inappropriate uses for life insurance How investment in long term care has evolved The best time to purchase insurance given the current circumstances How low interest rates ...

Did you know that there is a way to avoid paying taxes that can help you to enhance your wealth and generate cash flow that is supported by the government? In this episode of The Wealth Stream Podcast, Tim Scannell shares his insight into the world of tax planning, including tax avoidance. You’ll be surprised to know how much money you could potentially be saving. In this episode, you will learn: What tax avoidance is and how it differs from tax evasion What an opportunity zone credit is Why ha...

As a business owner, it’s important to understand what drives the value of your business. In this episode of the Wealth Stream Podcast, Tim Scannell returns with part two of his series on value drivers to share how to get the most out of your business when you exit. In this episode, you will learn: The final six value drivers to be aware of when exiting your business Why having great internal management helps improve the overall value of your business How having a proven growth strategy can hel...

Do you know what drives the value of your business? In part one of this miniseries, Tim Scannell explains what value drivers are, and shares how understanding them may be of benefit to you should you choose to sell your business. In this episode, you will learn: The first three value drivers to be aware of Why making the business successful without you increases its value Why having scalable and repeatable processes is crucial And more! Join us now to learn about value drivers and how they can...

What is your plan for retirement? Will you lock the doors and close your business on your last day? Have you considered a successor to carry on your legacy? In this episode, Tim Scannell takes us through the top 10 questions as a business owner; your financial team should be asking you, especially as you move closer to retirement. You need to surround yourself with the right team that through advanced planning will ensure you get the most out of your years of blood sweat and tears from building ...

Have you considered what kind of impact the SECURE Act is having on your current financial plan? In this episode, Tim Scannell discusses specific areas of the newly approved SECURE Act that may affect you and your portfolio. This is a timely and informative conversation that addresses four areas of concern: wealth enhancement, wealth transfer, wealth protection, and charitable giving. In this episode, you will learn: What the new requirements are for heirs of inherited IRAs How and why a Roth m...

When you eventually pass on your estate to the next generation, do you know if your loved ones will be protected from creditors? In this episode, Tim Scannell is joined by John Wiktor from HMB Legal Counsel to answer the most common questions about advanced planning for estates. Together, Tim and John share experiences and examples from the client accounts they mutually work on. In this episode, you will learn: What the threshold for the “death tax” is How to make your asset transfer more meani...

Are you hoping to give more to your favorite charities and save money in taxes at the same time? In this episode, Tim Scannell uncovers strategies that may allow you and the recipients of your generosity to get the best bang for the buck. Contributing straight from your required minimum distribution (RMD) or even donating an asset are just two of the many options that you will hear about in this informative episode. In this episode, you will learn: About one of the most tax-efficient strategies...

Tim Scannell’s clients generally have five primary concerns around wealth preservation, wealth enhancement, wealth protection, charitable giving, and transferring wealth. As it turns out, business owners in the commercial industry are no exception. In this episode, Tim Scannell shares the takeaways from his study that identifies the biggest concerns of family business owners in the commercial industry. In addition to interviewing the owners, Tim captures the perspective of children who work in t...

Are your children — your heirs — clearly passionate about your business? Do they express their vision for the future? Will they problem-solve their way to prosperity? In this episode, Tim Scannell uncovers six traits that entrepreneurial kids tend to possess. Using examples from his own life and that of his clients, Tim shows you how to prepare your children for success, especially if they are showing the true traits of being entrepreneurial. In this episode, you will learn: How to properly pre...

Wouldn’t it be great to have the confidence of knowing your wealth is preserved, your assets are protected, or even that the next generation is equipped to manage their wealth? In this episode, Tim Scannell discusses how entrepreneurial business owners, even with the most complicated financial situations, can achieve their optimal financial world. Listen in as Tim walks you through questions that will test your knowledge of your business and personal finances with the purpose of uncovering how y...

Everyone wants to protect their wealth, no question about it. But have you considered that if you’re a high-income earner, you’re more vulnerable to litigation? In this episode, Tim Scannell unwraps strategies for shielding your wealth, with a special focus on asset protection strategies. This is a must-listen conversation in which Tim walks you through three takeaways that not enough high-earners know while sharing client-examples along the way. In this episode, you will learn: Which question ...

What separates the rich from the not-so-rich? In this episode, Tim Scannell uncovers the answers by sharing four major things the super-rich do to manage, grow, and protect their wealth. He also shares how the HighTower Great Lakes team helps their clients address the primary concerns that inspire these four habits. In this episode, you will learn: About the five concerns that people tend to have about their wealth What the HighTower Great Lakes team does to help clients address these concerns ...

Protecting client data is of great importance to the HighTower Great Lakes team. That’s why they’ve enlisted Sarah Khan to help protect clients and advisors from digital threats. Today, Tim Scannell is joined by Sarah, HighTower’s chief information and security officer, to explore how she works behind the scenes to protect clients. Sarah also shares steps you can take today to keep yourself and your information safe. In this episode, you’ll learn: About Sarah’s role at HighTower Great Lakes and...

HighTower Great Lakes has a highly certified and diverse team of professionals — including Steve Billimack. When serving high-net-worth clients, the core of HighTower Great Lakes’ planning always boils down to investment consulting. As someone who focuses the most on the investment process, Steve joins Tim Scannell today to discuss what he does and what he brings to the table for clients. In this episode, you’ll learn: About Steve’s background with compliance and research How he applies his exp...

Once you’ve finished the discovery part of HighTower Great Lake’s wealth management process, it’s time to dive into planning. In part two of his mini-series, Tim Scannell gives you an exclusive preview of how the wealth management process unfolds across the next four meetings. This is your chance to explore the process and find out how you could benefit from Tim’s thorough, client-centric approach. In this episode, you will learn: Which types of analyses are done during the investment plan meet...

Get ready for a tour of HighTower’s process that addresses clients’ advanced planning needs! In today’s episode, Tim Scannell discusses the wealth management process at HighTower Great Lakes. He sheds light on how he gets to know clients during the first stage called the discovery process and which types of information he is most interested in gathering. In this episode, you will learn: What the wealth management process looks like at HighTower Great Lakes The different aspects covered in the w...

Are you looking for a way to ease your tax bill and attract employees to your company? In this episode, Tim Scannell interviews special guest Mary Stines of Crowe LLP. Mary uses her immense knowledge of taxation and years of experience to answer all of your questions about cash balance plans (CBPs). She even provides highlights from a real-life example of how a company has benefitted from this type of plan. In this episode, you will learn: What a cash balance plan is Whether a CBP will work wit...

How do you plan for a life transition that you don’t see coming? In today’s episode, Tim Scannell shares how he helps clients plan for life transitions that can be anticipated and ones that can occur suddenly. He takes us through the major categories that are covered during the planning process at HighTower Great Lakes. In this episode, you’ll learn: How Tim helps clients prepare for life’s big transitions Examples of anticipated and unanticipated life events About the six lifeline categories t...

Did you know that the pen is mightier than the sword? The power of the pen is eternal, which means that thinking and communication can greatly impact people’s lives. In this episode, Tim Scannell discusses how writing is the key to preserving your history and legacy. In this episode, you will learn: How good communication works to create transparency, which helps other generations understand the value of their inheritance Which tools are used to pass the legacy to the next generation How writin...