Category: Finance Industry

FEATURE
The Healthy Advisor: What Makes Advisors Happy With Michael Kitces

The Healthy Advisor: What Makes Advisors Happy With Michael Kitces

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While wellbeing and mental health have become a more mainstream conversation among the wider U.S. population since the pandemic, it’s a topic still largely untouched by the financial services industry. New research from Kitces.com aims to measure and track trends across advisor wellbeing, just as the industry benchmarks anything else. 

Over 1500 members of financial advisory teams responded to The Kitces Report: 2023 Advisor Wellbeing Study. Respondents reported on their current level of life quality, or wellbeing, on a 0–10 scale. The average was 6.84, with solo practitioners feeling better about life compared to mid-size or larger firm advisors.

In this episode, Diana Britton speaks with Michael Kitces, blogger and chief financial planning nerd at Kitces.com, about the key highlights of the study, including the positive impact of team involvement, the strategic delegation of less desirable tasks, and the necessity of fair compensation, particularly for those advisors who are service-oriented. 

Michael discusses: 

  • The impetus behind launching this study
  • How he defines wellbeing and happiness in the study
  • The correlation between firm size and advisor well-being
  • The top drivers of advisor well-being: autonomy, experience, team and service 
  • How firms can foster happiness and engagement among their advisors

Resources: 

Connect With Michael Kitces:

Connect With Wealth Management & NREI:

About Our Guest:

Michael E. Kitces is the Head of Planning Strategy for Buckingham Wealth Partners, a private wealth management firm located in St Louis, Missouri, that oversees approximately $50 billion of client assets. In addition, he is the co-founder of the XY Planning Network, AdvicePay, fpPathfinder, and New Planner Recruiting, former practitioner editor of the Journal of Financial Planning, and the publisher of the e-newsletter The Kitces Report and the popular financial planning industry blog Nerd’s Eye View through his website www.Kitces.com, dedicated to advancing knowledge in financial planning.

 

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

 

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.

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FEATURE
The Healthy Advisor: The Year of Health with Tina Powell

The Healthy Advisor: The Year of Health with Tina Powell

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After selling her business in November 2022, Tina Powell earmarked 2023 her “year of health.” The first step on that journey was to get a full body scan at the Princeton Longevity Center on Martin Luther King day 2023. That scan would change the trajectory of her life. 

That day, her doctors discovered a 2.1 cm tumor on her right lung. Despite being a healthy, fit non-smoker, she was launched into a challenging and emotional journey battling lung cancer.

Diana Britton, managing editor at WealthManagement.com, interviews Tina Powell, Partner and Chief of Community at Intention.ly, about her struggles with the cancer diagnosis, treatment, and recovery, emphasizing the importance of prioritizing health and well-being.

Tina discusses: 

  • The signs leading up to her diagnosis 
  • The three stages of treatment she underwent
  • The need to be your own health advocate and prioritize your well-being
  • Her decision to go public with her diagnosis and change the narrative around lung cancer
  • The power of vulnerability in seeking support and building connections

Resources: 

Connect With Tina Powell:

Connect With Wealth Management & NREI:

About Our Guest:

Tina Powell is a trailblazer in the digital marketing industry, with over 20 years of experience driving growth for financial services companies. As the Chief of Community at Intention.ly, she works alongside Co-Founders Kelly Waltrich and Meghan Richter, revolutionizing how financial technology and services companies approach marketing. Tina’s track record of delivering results for her clients led to her founding C-Suite Social Media, a high-growth digital marketing agency that Intentional.ly later acquired. Her passion for helping financial services companies thrive in the digital age is further demonstrated through her industry-renowned podcast, In The Suite, where she spotlights the careers and leadership of mid to senior-level women in the financial services industry. Tina earned a Master’s from NYU in Graphic Communications Management and Technology and the NYU Prism Alumni Achievement Award. She earned a Bachelor of Science in Business Management, magna cum laude, from Fairleigh Dickinson University.

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.



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FEATURE
The Healthy Advisor: Using Wealth to Improve Your Health With James Bogart

The Healthy Advisor: Using Wealth to Improve Your Health With James Bogart

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As a busy and often stressed-out executive at one of the top RIAs in the country, James Bogart found himself neglecting his well-being, resulting in weight gain and various health issues. 

A series of hospital visits prompted him to hire a concierge doctor and a nutritionist, leading to a remarkable 70-pound weight loss over the course of several months.  

In this episode, Diana Britton, managing editor at WealthManagement.com, is joined by James Bogart, CEO and president at Bogart Wealth. James shares his personal journey through health and wellness, revealing the importance of paying attention to your physical and mental well-being.

James explores:

  • His lifestyle before he lost the weight 
  • Why he went on his personal health journey
  • How his career contributed to his personal health struggles
  • What changes he made to his daily routine and diet to benefit his health
  • How mindfulness played into his journey
  • What challenges he faced in implementing health and wellness initiatives in the workplace and social settings

Resources: 

Connect With James Bogart:

Connect With Wealth Management:

About Our Guest:

A seasoned wealth advisor, James Bogart takes personal pride in assisting executives, entrepreneurs and professionals pursue their dreams through striking, highly customized financial planning strategies. As Principal of Bogart Wealth, he focuses both on maintaining the highest level of customer service and attention to detail possible, and on seeking to deliver the most effective technology, reporting tools and analysis to every Bogart Wealth client.

 

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.



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FEATURE
The Healthy Advisor: Overcoming Limited Opportunities and a Learning Disorder with Heather Kelly

The Healthy Advisor: Overcoming Limited Opportunities and a Learning Disorder with Heather Kelly

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Facing the hurdles of disadvantaged youth, Heather Kelly’s life was marked by a single mother, a disabled sister, and limited opportunities. She moved out of her home in Ozone Park, Queens, at the young age of 16. On top of that, she has struggled with dyslexia, a learning disorder and neurological condition that posed additional challenges in her educational journey.

Despite these obstacles, Heather climbed the corporate ladder and become a very successful executive in the insurance and wealth management industries, a mentor to many, and a sought-after speaker at industry events. And she did all that without a college degree (although she recently achieved that as well).  

In this episode, Diana Britton, managing editor of WealthManagement.com, is joined by Heather Kelly, owner of Kelly Like Consulting and formerly with Allianz, Goldman Sachs, and United Capital. Her story shows how determination, a strong support system, and an indomitable spirit can triumph over adversity.

Heather discusses: 

 

  • Her struggles growing up with a single mom and disabled sister
  • How she found out about her dyslexia and the challenges associated with it
  • How dyslexia has shaped who she is today
  • Her journey into financial services
  • The relationship with her sister and how she inspired Heather
  • The impact of her mentors and supportive team members

Resources: 

Connect With Heather Kelly:

Connect With Wealth Management & NREI:

About Our Guest:

Heather Kelly is a seasoned senior executive and board member who leverages a competitive spirit, strategic vision, and strong work ethic to achieve results. As a senior distribution executive and board member at Allianz, Heather significantly advanced the FinTech strategy and New Market endeavors while enhancing and growing core distribution to record levels. New Market strategies include the RIA channel, launching an asset management offering, buffered outcome ETFs, and employer markets business line. Another critical area of impact is her role as a lead member of the transformation team, fostering and facilitating company-wide change management. Equally notable is her previous executive management role with one of the largest national independent RIAs in the country, United Capital, building the first successful national RIA insurance platform and the FinLife 360 platform, which embodied all products and services that amplified the adviser experience.

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify, and wherever podcasts are found.



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FEATURE
The Healthy Advisor: Finding Courage to Leave an Abusive Relationship with Cary Carbonaro

The Healthy Advisor: Finding Courage to Leave an Abusive Relationship with Cary Carbonaro

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When financial advisor Cary Carbonaro met her first husband, she thought she had it all. She had a great upbringing in New York, wonderful family and friends. She was very successful. And while her fiancé looked very good on paper, the relationship turned out to be toxic.  

Behind closed doors, the marriage was a nightmare, with Cary facing physical, mental and verbal abuse from this man on a daily basis. 

She got the courage to leave him in 2009, but then endured a lengthy and painful divorce process. Getting out of that relationship set her free in a lot of ways, and then in 2019 she found herself in another bad relationship—this time with her firm, Goldman Sachs. She became a Goldman Sachs advisor when the Wall Street firm acquired United Capital that year. (Goldman recently announced plans to sell the business to Creative Planning.) 

In this episode, Diana Britton, managing editor at WealthManagement.com, speaks with Cary Carbonaro, senior vice president and director of women and wealth at ACM Wealth, about her personal experiences of being in an abusive relationship and the challenges she faced with her previous employer.

Cary discusses: 

  • How she connected with her first husband and why she chose to marry him
  • The abuse and manipulation she faced while living with her ex-husband
  • How she compartmentalized her work life and home life
  • How she got the courage to leave the relationship 
  • Her journey to help others facing the same struggle
  • Her experience at Goldman Sachs

Resources: 

Connect With Cary Carbonaro:

Connect With Wealth Management:

About Our Guest:

Cary Carbonaro is senior vice president and director of women and wealth with ACM Wealth. An award-winning Certified Financial Planner with over 25 years of experience, Cary is a tireless advocate for women in the financial industry and is passionate about increasing financial literacy and empowering women to overcome any financial challenge they face.

Before joining ACM Wealth, Cary was Vice President, Head of Office at Goldman Sachs. Following the firm’s acquisition of United Capital, she founded and served as Head of Women’s Leadership. During her tenure there, she served in a range of capacities, including Managing Director, Partner, FINLIFE Coach, and more. While there, she also earned several distinctions, including MVP Managing Director and the United Capital Diamond Office Winner, among others.



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FEATURE
The Healthy Advisor: Resiliency and Other Lessons Inside Lehman

The Healthy Advisor: Resiliency and Other Lessons Inside Lehman

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When Mike Wunderli started his journey into wealth management, he was excited about a career that had a combination of sales and finance, interpersonal and analytical. He built up an impressive book of business, helping entrepreneurs and business owners engineer liquidity events for their companies. 

But then, the 2008 financial crisis hit, causing the downfall of large financial institutions like Bear Stearns and Lehman Brothers, where he worked at the time. Lehman became the largest bankruptcy ever, and that event would have a profound impact on Wunderli’s life—personally, and professionally. 

In this episode, WealthManagement.com Managing Editor Diana Britton is joined by Mike Wunderli, current managing director at ECHELON Partners, who opens up about that dark time in his life, his struggles with unfulfillment, and the lessons learned watching Lehman and the economy collapse from inside the trenches. 

Mike discusses:

  • How he entered the wealth management industry
  • Advisor satisfaction and culture at Lehman
  • His experience inside Lehman leading up to the bankruptcy
  • Why client assets were tied up after the bankruptcy
  • Rehypothecation and other risks that surfaced during the financial crisis 
  • Why he felt unfulfilled professionally in the years following the collapse
  • How he came back from tough time in his life

Resources: 

Connect With Mike Wunderli:

 

Connect With Wealth Management:

About Our Guest:

Mike Wunderli is a Managing Director at ECHELON Partners and is integrally involved in all aspects of the firm’s activities. Prior to joining ECHELON, Mr. Wunderli founded Connect Capital Group (CCG) where he advises private, middle-market companies on pre-transaction planning, growth financing options and the development and execution of exit strategies. He also works closely with the private-equity and venture-capital communities to evaluate acquisition and investment targets and source proprietary deal flow.

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.



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FEATURE
The Healthy Advisor: Persevering in the Face of Adversity with Maria Castillo Dominguez

The Healthy Advisor: Persevering in the Face of Adversity with Maria Castillo Dominguez

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Maria Castillo Dominguez grew up in Ronda, a small mountaintop town in the south of Spain. And while she had a great support system, she also had a very humble childhood, and things were difficult for her family financially. And because of that background, she lacked a lot of opportunities. Most of her family members worked labor jobs, and no one went to college. 

But Maria was determined to be the first person in her family to go to college, and eventually get a desk job. She left home at a young age, and worked any job she could to pay her way through college. But when the financial crisis of 2008 hit Spain really hard, she lost her job and decided she needed to get out of the country. At age 25, with only about $400 to her name and no English under her belt, Maria went to the U.S.

But moving to the U.S. brought new challenges to her life, as she had to overcome a language barrier and not having family around to support her. Despite that, she persevered.

In this episode, WealthManagement.com Managing Editor Diana Britton speaks with Maria Castillo Dominguez, senior financial planner with Apella Wealth, on the adversity she faced on her journey to becoming a financial advisor.

Maria shares her relationship with money and family and how they pushed her to achieve her goals.

Maria discusses: 

  • What it was like to relocate to the United States not knowing English and with only $400 to her name
  • The struggles she faced trying to enter the financial industry as a Hispanic woman
  • How spirituality helped her overcome both personal and professional issues
  • How she’s overcome work/life balance challenges
  • How her own strength and loved ones helped her through dark times
  • Why she doesn’t regret her past mistakes

Resources: 

Connect With Maria Castillo Dominguez:

Connect With Wealth Management:

About Our Guest:

Maria Castillo Dominguez is a senior financial planner at Apella Wealth, an employee-owned advisory firm. She is originally from Spain and moved to the United States in 2010 after obtaining a Bachelor’s degree in Business and Master’s degree in Finance from the University of Sevilla. Maria has over ten years’ experience in operations, compliance, personal banking and personal finance. She holds the CFP designation. She became interested in personal finance after she moved to the United States and realized the potential for helping others improve their lives. Maria most recently worked as a Financial Consultant with TD Ameritrade before transitioning to Inspired Financial, which merged with Apella in 2023.

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.



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FEATURE
The Healthy Advisor: Living With Cancer With Lynn Ballou

The Healthy Advisor: Living With Cancer With Lynn Ballou

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After selling her firm to EP Wealth in 2016, Lynn Ballou became a fixture among EP’s leadership team that worked to take the RIA to new heights. She’s also served as a mentor for younger advisors and a fierce advocate for greater diversity in the wealth management industry.

Lynn had to put all of that on hold when she was diagnosed with Stage 4 Melanoma, the most serious type of skin cancer. But when she first learned of the diagnosis, she went into denial. The hardest part was accepting the fact she needed to take a step back and focus on her body. In June 2022, Lynn retired from her role at EP Wealth Advisors.

In this episode, Diana Britton is joined by Lynn Ballou, CFP Emeritus and retired senior vice president of EP Wealth Advisors, who shares her story.

Lynn discusses: 

  • What she was feeling the night the doctors told her she wasn’t going to make it
  • Why she went into denial when she was told about the cancer
  • How she felt when she had to let go of her career 
  • How the illness impacted her retirement plan 
  • The importance of slowing down and taking care of your body
  • The current struggle she has to fill her days
  • Her advice for young professionals in the wealth management industry

Resources: 

Connect With Lynn Ballou:

Connect With Wealth Management & NREI:

About Our Guest:

Lynn Ballou, retired as Senior Vice President/Partner of EP Wealth Advisors in June 2022. She also retired in 2022 as the CFP Board of Standards Ambassador for the San Francisco Bay Area, a role in which she educated the public about the importance of financial planning. Prior to joining EP Wealth Advisors, Lynn founded Ballou Plum Wealth Advisors in 1998 with long-time friend and colleague, Marilyn Plum. Under her guidance, the firm became a trusted financial advisory office in the East Bay, one that placed emphasis on an unparalleled level of service for every generation of its client base. Particularly passionate about educating women, Lynn spent her career helping women unravel the financial complexities that accompany retirement, inherited wealth, loss of spouse, divorce and other transitional moments in life. 

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.



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FEATURE
The Healthy Advisor: Caring for Family With Serious Mental Illness With Paul Peeler

The Healthy Advisor: Caring for Family With Serious Mental Illness With Paul Peeler

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In his financial advisory practice, Paul Peeler specializes in planning for mental illness caregivers and their families. But Paul has his own story of caring for a family member with a mental illness and the emotional toll the experience has taken on him.

When a close family member spiraled into a mental health crisis, he was forced to deal with the crippling emotions, while also struggling to navigate a confusing health care system and financial burdens that came along with that. 

In this episode, WealthManagement.com Managing Editor Diana Britton is joined by Paul Peeler, financial advisor at Integrated Financial Group in Atlanta, who shares how he processed the emotional and financial struggles he faced.

The ordeal prompted him last year to launch the Preparedness Project, where he has set a goal of helping 500 families dealing with a serious mental illness in getting financial planning and guidance. 

Paul discusses: 

  • The grief of losing the future he envisioned for his loved one
  • How therapy helped him understand his emotional state and accept what he was feeling
  • How he copes with the continuous struggle of caring for a loved one with mental illness
  • Some of the key struggles that mental illness caregivers face
  • How his experience has helped him relate to clients going through something similar

Resources: 

Connect With Paul Peeler:

Connect With Wealth Management & NREI:

About Our Guest:

As a financial advisor with more than 20 years of experience, Paul Peeler offers thoughtful, strategic guidance to families and professionals on how to best use their resources to support their wants and needs. He helps clients identify goals and works with them to implement a series of strategies that helps them address their vision for the future.

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.



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FEATURE
The Healthy Advisor: Overcoming Insecurities and Self-Doubt With Stephanie Bogan

The Healthy Advisor: Overcoming Insecurities and Self-Doubt With Stephanie Bogan

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A lot of people in the industry know Stephanie Bogan; she’s a sought-after business and practice management coach and speaker. Before starting Limitless Advisor, her current coaching firm, she founded a consulting firm at the age of 24 and sold it in a 7-figure deal to a Fortune 200 company. She then joined Joe Duran’s executive team at United Capital, which was eventually acquired by Goldman Sachs.

But less known is her personal journey. She dealt with a tough childhood, with a father who was in the military and moved the family around a lot, and a mother with a mental illness. At age 17, she moved out on her own, only to experience more struggles. That upbringing shaped a desire to be constantly proving herself, protecting, and hiding.

Her insecurities, perhaps, drove her to build a successful name for herself in the industry. But she eventually realized that this success was not giving her life the meaning she was hoping for.

In this episode, Diana Britton, managing editor at WealthManagement.com, speaks with Stephanie Bogan, founder and CEO of Limitless Advisor, on finding her path to happiness, wellbeing and healing in her own life.

Stephanie discusses: 

  • What her relationships with her parents were like, and how those shaped her insecurities
  • What drove her to leave home at 17
  • Why she made the move to Costa Rica and how her career changed after that
  • How deep, unmet needs can influence your behavior and actions
  • Her battle against stress, anxiety, insecurity, and crippling self-doubt
  • And more

Resources: 

Connect With Stephanie Bogan:

Connect With Wealth Management & NREI:

About Our Guest:

In her 25 year career, Stephanie Bogan has consulted and coached top firms, thought leaders and C-suite leaders to greater success. A regular speaker and writer, Stephanie authored The Power of Practice Management (Bloomberg Press), has written for every major publication. She is also a regular contributor to Financial Advisor, Kitces.com and Advisor Perspectives.

 

If you have a struggle and wish to share your experiences and help others in similar situations, please reach out to Diana at diana.britton@informa.com.

The Healthy Advisor podcast is available on Apple Podcasts, Android, Stitcher, Spotify and wherever podcasts are found.



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