Episodes

When you only focus on rate of return, you’re focusing on the future. But it’s possible that you’re not spending money to enhance your life today. In today’s episode, Tim Scannell tells you about the survey he and his team use to measure satisfaction in three areas: well-being, progress, and freedom. Listen in as Tim explains each area and how the experience of taking this survey can help you enhance your life. In this episode, you’ll learn: About the survey used at HighTower Great Lakes to mea...

Are you overly concerned with your return on investment? Well, it turns out that there are more life-altering factors to consider than ROI. In today’s episode, Tim Scannell introduces a perspective-changing approach called “return on life.” He explains how this process differs from a return-on-investment focus and explains why ROI is only one part of the equation. In today’s episode, you will learn Why focusing only on ROI is problematic What it means to change the conversation from return on i...

Would family office services make your life easier? If so, what is the first step to getting started? In part two of his mini-series, Tim Scannell explores these questions and talks about which tasks clients are most excited to hand over to his family office service. In this episode, you’ll learn: Some of the most common services families seek out within the family office services About the different functions of a single family office versus multi-family office services What having a virtual f...

In what instances would you need family office services? There are straightforward situations and then there aren’t. The latter is where family office services come in. Today, Tim introduces the family office services at HighTower Great Lakes and explains what the services involve for different clients. In this episode, you’ll learn: Why HighTower Great Lakes offers family office services What the family office services entail How family office services can help with the most complicated situat...

In part two, Tim Scannell covers another major topic under advanced planning: asset protection. He discusses how children or grandchildren with special needs can be supported by their families without experiencing an interrupting in the benefits they receive. In this episode, you’ll learn: What is involved in wealth protection for special-needs beneficiaries Solutions to prevent special-needs beneficiaries from losing their support services Useful tools to help families who are concerned that t...

Change is inevitable and the way we deal with it can have a far-reaching impact on our lives. According to Tim Scannell, this is where advanced planning comes in. In part one of his mini-series, Tim discusses how advanced planning can help prevent future problems that usually arise from four tough situations. Tim offers guidelines in today’s episode to help you handle two of these scenarios: preparing beneficiaries who have special needs and navigating prenuptial agreements. In this episode, you...

Do you know about the softer side of financial planning? Planning isn’t all about conducting technical quantitative analyses. In fact, Tim Scannell and his team spend half of their time helping clients with more subtle planning items, called “transition points.” Today, Tim explains how you can prepare for two major transition points—downsizing and retirement. In this episode, you’ll learn: About HighTower Great Lakes’ unique approach to financial planning that additionally focuses on transition...

There are many terms used in the financial industry, and differentiating between similar ones can be confusing. Do you know the difference between a “fiduciary” and a “broker”? Today, Tim Scannell answers that very question. Not only that, but he also gives insight into how the fiduciary process works, particularly at Hightower Great Lakes. In this episode, you’ll learn: The key differences between brokers and fiduciaries Why the fiduciary process can be compared to that of a dietitian The fee ...

Inheriting wealth is harder than it sounds. Too often, younger generations misuse wealth because they don’t know how to preserve it or how to make wise spending decisions. The family bank could be the solution. In today’s episode, Tim Scannell gives you a behind-the-scenes look at how clients use family banks to educate their children, protect their assets, and channel money in a direction that aligns with their values. In this episode, you’ll learn: The three most popular reasons for creating ...

What role does a lifelong learning plan play in multi-generational wealth transfer? Tim Scannell is picking up from where he left off in his previous episode on multi-generational family meetings. Today, Tim talks about the importance of having a lifelong learning plan, what the plan entails, and how it can help families during wealth transitions. In this episode, you’ll learn: About the role of a lifelong learning plan in transferring wealth between generations Why it’s beneficial for families...

Do you know how to prepare for the successful transition of family wealth? You’re about to find out. In today’s episode, Tim Scannell discusses a powerful tool that helps families pass on their legacy to their heirs—family meetings. Here’s what you’ll learn about in today’s episode: The primary goals of multigenerational family meetings Tim’s approach to introducing his clients to the concept of family meetings The importance of transferring wealth as well as the history behind the wealth How T...

Preparing to transfer your wealth to the next generation is important, but it’s also important to consider how philanthropy can help prepare the next generation to receive your wealth. In this episode of the Wealth Stream podcast, Tim Scannell of HighTower Great Lakes shares how he and his team encourage clients to engage their families in their philanthropic legacy giving. In this episode, you’ll learn: How protecting a family brand is equally as important as protecting financial assets How ph...

So, you’ve sold the family business — now what? In part four of Tim Scannell’s Looking Downstream mini-series, Tim discusses the way his team helps clients protect their funds for generations to come. In this episode you’ll learn: The way that HighTower Great Lakes protects clients’ wealth Why HighTower Great Lakes definition of wealth encapsulates so much more than financial assets Tim’s process for multi-generational family meetings The importance of focusing on transition points in life — an...

When exiting your business, it can be difficult to anticipate what to expect when dealing with potential buyers. Luckily, Tim Scannell is here to help! In part three of his mini-series on navigating the selling of your business, Tim helps you prepare to enter the marketplace and present your business to potential buyers. In this episode, you’ll learn: What buyers want to know before they purchase your business How Tim helps business owners find buyers that will carry on the business’ culture an...

Did you know that fly fishing and owning a business share many similarities? In part two of his five-part series, Tim is back to explain how business owners can prepare to “enter the river” and successfully navigate the next steps in their business exit strategy. In this episode, you’ll learn: How Tim helps clients look downstream to prepare their businesses for an exit down the road At what point business owners are ready to “enter the river” (and what that entails) Tim’s recommendations for o...

Fly fishing and generational wealth planning have more in common than one might think, according to Tim Scannell. In part one of his five-part series, Tim explains why he encourages clients to “look downstream” to create generational financial plans that build wealth far into the future. In this episode, you will learn: Why Tim strategically helps clients focus on their long-term planning in finance About the importance of building the right team to execute the client’s goals, rather than defau...

In this premiere episode, you’ll meet Tim Scannell, the managing director and partner at High Tower Great Lakes Wealth Management. Tim is a Chartered Professional Accountant and a CERTIFIED FINANCIAL PLANNER professional. Tim works with entrepreneurs and business professionals to proactively plan for their financial futures. He helps his clients set financial goals that launch them on the path to success. In this episode, you will learn: Why Tim chooses to work mostly with family-owned business...