Tag: #WealthManagement
Young Careers in Financial Advising (Ep. 29)

Young Careers in Financial Advising (Ep. 29)

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What drives someone to pack up and move for a career? 

In this episode of The MedTech Wealth Advisor Podcast, host Matt Nelson introduces listeners to two new team members at Perspective 6 Group, Grace Hennen and Karissa McLaren. 

Tune in to hear about their unique backgrounds, how they landed in the MedTech financial advising world, and why they’re both thrilled to join the team. Discover how their experiences shaped their career and life choices.

During the discussion:

  • Karissa shares how her upbringing on a Kentucky cattle farm influenced her passion for finance
  • Grace reflects on how a love for customer service and a passion for mathematics paved her path to financial planning
  • Both discuss the surprises and lessons learned from transitioning from academic financial concepts to real-world application
  • Matt guides a conversation on industry progress and personal insights on how new professionals can push for even more inclusive practices 
  • And more!

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Connect with Grace Hennen:

Connect with Karissa McLaren:

Connect with Perspective 6 Group:       

About Grace Hennen:

After her graduation from college in 2024, Grace began working with Perspective 6 Group as a Financial Planning Associate. Grace is passionate about financial planning and helping people achieve their goals. As an Financial Planning Associate, Grace will be responsible for ongoing financial planning analysis and research, and portfolio maintenance. In addition, Grace will assist our clients with day-to-day activities such as ensuring our financial planning data is up to date or helping clients with account-related questions. Through her work as an Advisor Support Specialist, Grace is working to gain the skills necessary to become a Financial Advisor.

About Karissa McLaren:

Following her graduation in 2024, Karissa McLaren began working for Perspective 6 Group as an Advisor Support Specialist. During her time in college, she discovered her passion for serving others in various capacities. That passion, coupled with her interest in finance and investments, has led her to a career in financial planning with the aspiration of becoming a licensed Financial Advisor. Karissa looks forward to learning the depths of the industry and forming relationships with clients.

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The Power of Donor-Advised Funds for Charitable Giving (Ep. 28)

The Power of Donor-Advised Funds for Charitable Giving (Ep. 28)

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How can you maximize your charitable giving while minimizing your taxes?

Donor-advised funds (DAFs) might be the key.

Join Matt Nelson and Jacob LaRue as they dive into the strategic world of donor-advised funds—a tool many haven’t explored yet—to enhance your charitable contributions while skillfully managing your tax savings, aligning seamlessly with your values. 

They discuss: 

  • Donor-advised funds, a powerful vehicle to maximize both your charity impact and tax benefits
  • Practical scenarios and case studies showcasing the effectiveness of bundling contributions for greater deductions
  • Combining strategies such as utilizing low-basis stocks or integrating Roth conversions
  • The options for setting up lasting charitable legacies that continue giving beyond your lifetime
  • And more!

Connect with Matt Nelson:    

Connect with Jacob LaRue:

Connect with Perspective 6 Group:       

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How Much Life Insurance Do I Need? (Ep. 26)

How Much Life Insurance Do I Need? (Ep. 26)

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Life insurance might not be the most exciting topic, but it’s crucial for safeguarding your financial future.

And the golden question is: How much life insurance is enough?

We’ve got the answer this week on The MedTech Wealth Advisor Podcast. Matt Nelson and Jacob LaRue talk about how to determine the appropriate amount of life insurance coverage to meet your needs.

They guide you through the purpose of life insurance, the various frameworks to determine the necessary coverage for you, and how to select the right type of policies based on individual needs. 

They discuss: 

  • The purpose of life insurance and its role in financial planning
  • Different frameworks for calculating the necessary amount of coverage
  • The distinction between group and personal life insurance policies
  • How to tailor life insurance plans to unique family and financial situations.
  • And more!

Resources:    

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How Roth IRAs Work

How Roth IRAs Work

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Wondering how Roth IRAs give you a tax advantage? Curious about non-retirement uses like college and buying a home? This episode dives deep into the strategic advantages of Roth IRAs and their role in preparing you for your financial future.

For working professionals, navigating retirement planning is critical. This episode reveals how Roth IRAs can be pivotal tools in your financial arsenal, offering benefits beyond retirement savings. Whether you’re a young investor or a high earner, understanding the nuances of Roth IRAs can lead to significant long-term gains.

Join host Matt Nelson, CFP®, Managing Partner at Perspective 6 Group, and Jacob LaRue, CFP®, Head of Financial Planning, as they discuss the most effective strategies for optimizing Roth IRAs. Discover how these accounts can be leveraged not just for retirement, but also for estate planning, emergency funds, and even home purchases.

Key Highlights:

  • Roth IRA Basics: Learn how Roth IRAs differ from traditional retirement accounts, with after-tax contributions and tax-free withdrawals in retirement
  • Strategic Contributions: Explore optimal strategies based on your lifetime tax bracket and income fluctuations to decide between Roth and traditional IRAs
  • High Earner Strategies: Learn about Backdoor and Mega Backdoor Roth IRAs, designed to help high-income earners maximize their savings into retirement
  • Estate Planning: Discover the benefits of using Roth IRAs in estate planning, including tax-free inheritance and the absence of required minimum distributions
  • Non-Retirement Benefits: Uncover how Roth IRAs can fund emergencies, facilitate home purchases, and reallocate excess 529 plan funds for education
  • And much more!

 

Resources:

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Connect with Perspective 6 Group:       

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How to Navigate and Optimize Non-Qualified Stock Options

How to Navigate and Optimize Non-Qualified Stock Options

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How do NSOs work? When are NSOs taxed? Are NSOs earned income? Get all your NSO questions answered on this episode.

Unlocking the potential of your non-qualified stock options (NSOs) can be essential in achieving financial independence, particularly in the MedTech industry. Understanding the intricacies of NSOs can empower you to make informed decisions about your equity compensation and overall financial plan.

Join host Matt Nelson, CFP®, and Jacob LaRue, CFP®, as they explore the strategic planning required for exercising NSOs. Learn the importance of understanding grant agreements, vesting schedules, and the overall impact on your financial plan to avoid common pitfalls like unexpected tax bills and concentration risk.

Key Highlights:

    • NSOs Overview: Gain insights into how NSOs work, including the difference between the grant price and the current stock price, as well as the significance of the vesting schedule
    • Exercising NSOs: Explore different methods of exercise, cash vs. cashless, and understand the implications of each approach
    • Tax Implications: Learn about the tax consequences of exercising NSOs, including ordinary income taxes on the bargain element and capital gains taxes on future gains
    • Concentration Risk: Discover strategies to manage concentration risk, especially if a significant portion of your portfolio is tied to one company’s stock
    • Three-Step Planning Process: Understand the process of reviewing stock plan documents, building a financial plan, and creating a game plan for exercising NSOs
    • Withholding and Tax Planning: Identify the need for additional tax planning due to insufficient withholding on NSOs and the importance of keeping up with tax estimates to avoid penalties
  • Practical Guidance:
    • Early Exercise Option: Exercising NSOs early can be beneficial if the stock price is low, allowing future gains to be taxed at capital gains rates instead of income tax rates
    • Scenario Planning: Evaluate different exercise scenarios to determine the best strategy for your financial situation, considering factors like market concentration and tax impact
    • Regular Check-ins: Regularly review and adjust your financial plan, especially during key periods like Spring and Fall to ensure you stay on track and avoid surprises
  • And much more!

 

Resources:

Connect with Matt Nelson:    

Connect with Jacob LaRue: 

Connect with Perspective 6 Group:       

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Preparing for Financial Independence with a Lifetime Income Plan

Preparing for Financial Independence with a Lifetime Income Plan

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Retirement isn’t a one-size-fits-all endeavor. Crafting a personalized income plan empowers you to prepare for financial independence and gain control of your future.

Matt Nelson, CFP® is joined by Head of Financial Planning at Perspective 6 Group, Jacob LaRue, CFP®. The pair discuss the art of crafting an effective income plan that sustains your lifestyle through all of life’s stages. With an emphasis on the critical role of understanding cash flows, taxes, and diverse income sources. They offer insights to help you avoid the unnecessary stress of prolonged working years, so you can enjoy life.

Key Highlights:

  • Financial Independence: Learn to create a comprehensive income plan to support your lifestyle throughout retirement
  • Life Phases: Explore saving and spending strategies tailored to the three stages of life
  • Tax Strategies: Plan for taxes as an expense over your lifetime
  • Practical Planning: Utilize tools budgeting tools to track spending and income, as well as retirement tools to ensure you are on track
  • Investment Insights: Leverage your portfolio to fill income gaps to optimize pension and Social Security benefits to protect long-term stability 
  • Enjoying Life: Financial planning should empower you to enjoy life, including taking sabbaticals or mini retirements
  • And much more!

Tune in to secure valuable insights and practical advice on working towards financial independence and crafting an effective income plan.

 

Resources:

Connect with Matt Nelson:    

Connect with Jacob LaRue: 

Connect with Perspective 6 Group:       

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Exploring MedTech Innovation in Medical Alley (Ep. 19)

Exploring MedTech Innovation in Medical Alley (Ep. 19)

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Ready to explore cutting-edge MedTech innovation and its career impact? 

Matt Nelson, CFP®, and Frank Jaskulke, the now former VP of Innovation at Medical Alley, join together to discuss how Medical Alley drives healthcare advancements. Celebrating 40 years in 2024, Medical Alley has led initiatives like the angel investor tax credit and the Medical Device Innovation Consortium, cementing Minnesota as a MedTech hub. Frank shares invaluable insights on Medical Alley’s history, mission, and industry impact for professionals and entrepreneurs.

Key Highlights:

  • Collaborative Ecosystem: How Medical Alley unites medical device companies, hospitals, insurers, and supply chains to foster innovation and public health outcomes
  • MDIC’s Role: Bringing together FDA scientists and industry experts to enhance product safety, efficacy, and approval processes
  • Angel Investor Tax Credit: Boosting innovation with a 25% refund on investments in Minnesota-based high-tech startups
  • Healthcare Digitization: Exploring digital transformation to reduce costs, improve quality, and address rising healthcare expenses
  • Medical Alley Starts: Supporting entrepreneurs with resources to connect with investors, partners, and talent, accelerating innovation
  • Career Development: Networking and execution advice for newcomers to enhance career opportunities within Medical Alley
  • International Expansion: Bringing global innovations to Minnesota to further enhance the state’s MedTech industry

Tune in for actionable advice and insights into the factors shaping MedTech innovation and career development.

 

Resources:

Connect with Matt Nelson:    

Connect with Perspective 6 Group:       

Connect with Frank Jaskulke: 

 

About Frank Jaskulke: 

As the Vice President of Innovation at Medical Alley, Frank Jaskulke played a crucial role in driving the nonprofit association’s mission to make Minnesota the epicenter of health innovation and care. With a robust background in supporting MedTech startups and fostering industry collaboration, Frank’s leadership has been instrumental in launching initiatives like the Medical Device Innovation Consortium and the angel investor tax credit, significantly impacting the MedTech landscape. Since recording, Frank has moved on from Medical Alley to another opportunity.

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Jacob’s Journey: Building a Foundation on Integrity and Family Values (Ep. 16)

Jacob’s Journey: Building a Foundation on Integrity and Family Values (Ep. 16)

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What drives a financial planner to focus on factors beyond the numbers?

In this week’s dialogue on the MedTech Wealth Advisor Podcast, host Matt Nelson, CFP®, AIF®, ECA welcomes Jacob LaRue, CFP®, a pivotal team member whose personal and professional journey offers a unique perspective on the financial planning landscape. Growing up in a Chicago suburb, Jacob’s early life lessons in integrity, teamwork, and diligence have deeply influenced his financial advisory approach.

Key Highlights:

  • Values at the Core: Reflecting on his family’s entrepreneurial background, Jacob explains how these moral and ethical standards have become the cornerstone of his professional life
  • Educational and Career Evolution: Jacob traces his journey from an aspiring baseball player to a dedicated financial planner, emphasizing the critical courses and extracurriculars at Western Kentucky University that shaped his path
  • Focus on Clients: Jacob details his commitment to ethical, client-oriented advising, shaped by handling diverse client situations and focusing on personalized financial plans
  • Empathetic Advising: He stresses the importance of recognizing clients’ backgrounds and motivations, blending analytical skills with empathy to tailor advice effectively
  • Life Beyond Numbers: Jacob shares personal stories, including how he met his wife in a financial planning class, illustrating how personal and professional lives intertwine
  • Resilience in Practice: Sharing a mantra from his baseball days, Jacob highlights the role of resilience and optimism in overcoming professional challenges

Explore these insights and more to understand the profound impact of personal values and professional integrity in the world of financial planning.

 

Resources:

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Connect with Jacob LaRue: 

Connect with Perspective 6 Group:       

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Being Radically Different with MedTech Entrepreneur, Omar Khateeb (Ep. 15)

Being Radically Different with MedTech Entrepreneur, Omar Khateeb (Ep. 15)

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What does it take to transform an industry?

Matt Nelson, CFP® explores the meaningful world of MedTech innovation with Omar Khateeb, a pioneering entrepreneur in the medical device industry. From his beginnings as a medical student to founding a consulting firm that drives digital marketing strategies for MedTech startups. Omar’s journey is a testament to the power of entrepreneurial spirit and risk-taking. Learn innovative approaches to setting new industry standards and tips to enhance market engagement.

Key Highlights:

  • From Academics to Entrepreneurship: Omar shares his pivotal shift from medical studies to revolutionizing MedTech sales
  • Revolutionizing Marketing: Learn how Omar’s advanced digital marketing rejuvenates MedTech startup sales
  • Navigating Entrepreneurial Challenges: Discover how Omar overcame startup challenges with limited resources and resilience
  • Strategic Innovation: How using risks as opportunities to carve niches in untapped markets
  • Scaling Impact: Omar emphasizes solving big problems to amplify industry impact
  • Digital Networking: Explore how LinkedIn enhances visibility and builds connections in MedTech
  • And much more!

 

Resources:

Connect with Matt Nelson:    

Connect with Perspective 6 Group:       

About Omar M. Khateeb: 

Omar M. Khateeb started a company with one mission: change how MedTech companies sell and market to physicians. That starts with teaching how to persuade at scale and drive product adoption using social media. He’s not a guru and he doesn’t have a grand theory. Instead, there’s vision backed by experience and research. Omar knows how to do it because he’s done it, so he can show you how.

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Building Roots: A Passion for Legacy With Matthew Finley, CFP® (Ep. 13)

Building Roots: A Passion for Legacy With Matthew Finley, CFP® (Ep. 13)

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Can a background in medicine and microbiology revolutionize financial advising?

Discover the remarkable transformation of Matthew Finley, CFP®, Partner & Senior Financial Advisor at Perspective 6 Group. From an aspiring doctor to a successful financial advisor, this is a fascinating episode of The MedTech Wealth Advisor Podcast. Join our host, Matt Nelson as he dives into Matthew’s unique journey, highlighting how personal values and pivotal life decisions can profoundly shape one’s career in financial management.

Key Highlights:

  • Pivotal Career Shift: Dive into Matthew’s decision to move from aspiring doctor to financial advisor, a choice influenced by his quest for work-life harmony
  • Early Inspirations: Discover how Matthew’s grandfather, an astute investor, ignited his passion for finance
  • Diverse Career Journey: Trace Matthews’s path from microbiology research to thriving in the dynamic world of business finance and eventually finding his calling in financial advising
  • Resilience During Financial Crisis: Learn about Matthew’s strategic approach to financial advising during challenging times, including the 2008 recession and recent economic fluctuations
  • Empathetic Client Relationships: Understand how Matthew’s background enables him to relate to clients seeking honest and compassionate financial advice
  • The Man Behind the Advisor: Peek into Matthew’s personal life, from his achievements in distance running to cherishing moments with his family and the great outdoors
  • Wisdom for Aspiring Advisors: Listen to Matthew’s insights on pursuing a financial career passionately while maintaining a balance with personal life
  • And much more!

 

Looking Ahead: 

Gear up for an inspiring conversation on the Perspective 6 Group investment philosophy in the next episode, where Matthew and Matt will share how diverse life experiences enrich financial decision-making and strategy formation.

 

Resources:

  • Do you have a topic you’d like to learn more about on this podcast? Send us an email at mwapodcast@focusfinancial.com to let us know. We look forward to hearing from you!

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