Off The Wall

Adding onto our last episode for executives on navigating career growth and transitions, this time we’re talking about peak performance and finding purpose in your executive role, wealth, and beyond.    Today on Off the Wall, hosts Jessica Gibbs and David Armstrong welcome Dr. Julie Gurner, a nationally recognized executive performance coach and psychologist who’s helping executives achieve world-class performance in fast-paced, high-pressure, and highly competitive environments. Julie is here to share her insights and advice on making the most of your executive role and the wealth that comes with it.    Throughout our conversation, you’ll learn how to overcome the overwhelm, fear, and stagnation you may feel as an executive, without losing your momentum. Julie offers tips on how to master the art of delegation, prioritization, and accountability as an executive leader. Then, she guides you through the process of figuring out your purpose (in work and in wealth), giving advice to those of you who have exited or will exit a business but may not know what to do with your newfound wealth.    This is an incredibly rich episode packed full of wisdom and advice that you can only get from a renowned executive coach, so tune in and get ready to take notes! Julie’s insights are sure to lead you to the answers you’ve been looking for.    “Humans are notably bad at knowing their own blockers, and so, it really does help us to get outside of ourselves to begin to develop that potential a little bit more.”   – Dr. Julie Gurner    Episode Timeline/Key Highlights:  [00:19] Introducing Dr. Julie Gurner & the topic of today’s episode.  [01:49] How to know if you’re a peak performer or a typical performer.  [04:01] Why peak performers can’t push themselves to the next level.  [06:46] Why do I still feel overwhelmed and scared of risk after years of executive experience?  [09:46] How to push through overwhelm without losing your momentum.  [12:03] Mastering delegation and prioritization in an executive role.  [18:05] How to identify and order your priorities in life and work.  [20:17] Finding your answer to “What is your purpose?”  [29:25] Defining “wealth” and the options your wealth gives you.  [31:40] Advice for people who’ve exited a business and don’t know what to do with their newfound wealth.  [35:15] How Julie finds purpose in her work.  [36:20] How to connect with Julie & get her weekly newsletter for peak-performing executives.    Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.          About Dr. Julie Gurner:  There's a reason she has a 2-year waiting list for new clients. Dr. Julie Gurner is one of today's most prolific executive performance coaches, Doctor of Psychology, and nationally recognized executive performance coach for individual and corporate clients primarily in finance and technology. She is trusted by top percentile talent and their teams to help them achieve world-class performance in fast-paced, high-pressure, extremely competitive environments.     Julie’s international client reach includes such cities as NYC, Singapore, Sydney, Oslo, Dubai, London, and San Francisco. She’s been compared to Wendy Rhoades of "Billions" in The Wall Street Journal (2019) and Named a “Game Changer” by IBM. She has also been featured in Fast Company, Time Magazine, NBC News, Forbes, BravoTV, Greatist, US News, Martha Stewart Living, Vox, and more.    Connect with Dr. Julie Gurner on LinkedIn: https://www.linkedin.com/in/dr-julie-gurner  Follow her on Twitter (X): https://twitter.com/drgurner  Subscribe to Dr. Gurner's newsletter on Substack: https://drgurner.substack.com  Contact directly: [email protected]    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on X: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB   Connect with us on YouTube: https://bit.ly/YouTubeMWMFit    About “Off the Wall”:  OFF THE WALL is a podcast for founders, executives, and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.   

Are you an executive getting ready for your next career move? Need advice on how to step away from your current role and figure out what’s next? Thinking of taking a sabbatical or transitioning to retirement? Tune in to the expert advice you need to make your next move successful!    In this episode of Off the Wall, host Jessica Gibbs welcomes Deborah Brecher, President and Managing Director of Tandem Group, to give you advice on navigating change, growth, and transitions in your career. Today, she highlights the three most common transitions executives experience in their careers and how to move through them with ease.    Throughout the discussion, you’ll learn how to get ready for your next executive role, how to make a career move, and how to step away. Deborah gives fantastic advice on branding yourself as a trustworthy executive, strategically identifying what the next chapter of your career looks like, and how to ensure your next executive role is fulfilling. She also details how you can leverage your network to propel your career to the next level.    If you’re ready to take on more leadership responsibilities, shift into a new industry or company, or step away from your career altogether, Deborah’s advice will certainly guide you in the right direction.    “The first place to work is with yourself because when you go look for your next opportunity, you’ve got to come at it from a place of positivity and belief in yourself.”   – Deborah Brecher    Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.        Episode Timeline/Key Highlights:  [00:19] Introducing Deborah Brecher & the topic of today’s episode.  [01:56] How to prepare for your next role as an executive.  [10:41] Personal branding tips for executives.  [15:55] How to make your next career move (and make sure it’s fulfilling).  [27:57] Approaching your next role when it’s an unexpected change vs. your own choice.  [31:46] Taking a career sabbatical: Is it worth it for executives?  [34:02] Act III: Navigating the last chapter of your career.  [37:04] How to step away from your career and plan a fulfilling retirement.  [41:56] When it’s time to grit and when it’s time to quit.   [47:00] About Tandem Group.      Resources Mentioned:  Follow Tandem Group on LinkedIn: https://www.linkedin.com/company/tandem-group-inc-  Tandem Group’s website: https://www.tandemgroupinc.com  Tandem Group’s blog “To The Point”: https://www.tandemgroupinc.com/blog  Center for Creative Leadership: https://www.ccl.org  Spencer Stuart: https://www.spencerstuart.com  Russell Reynolds: https://www.russellreynolds.com  Heidrick & Struggles: https://www.heidrick.com  Man’s Search for Meaning by Viktor Frankl: https://bit.ly/45W9Urx    About Deborah Brecher:  Deborah Brecher works with CEOs, senior leadership teams, and Boards of Directors at global companies to diagnose organizational performance issues, design and implement large scale transformational journeys, CEO and senior leadership succession planning, BOD effectiveness, and talent pipeline management. She’s had the opportunity to speak and author articles on a range of topics from CEO succession to how leaders must adapt post-COVID-19 to attract and retain good people. Most recently, she led a panel discussion for an NACD (National Association of Corporate Directors) Master Class on CEO succession planning.    Connect with Deborah on LinkedIn: https://www.linkedin.com/in/deborah-brecher-94ab1914a    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB   Connect with us on YouTube: https://bit.ly/YouTubeMWMFit    About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about.    Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.   

As we enter the last fiscal quarter of 2023, we always love to reflect on the Q3 market (and YTD) to see what we’re surprised by and the major takeaways from the data.    In this quarterly recap episode of Off the Wall, hosts David B. Armstrong, CFA and Jessica Gibbs, CFP® are joined by our Portfolio Management team, Erin Hay, CFA and Nate Tonsager, CIPM.     Tune in to hear our Q3 2023 recap, where we review the market’s best and worst performing sectors, taking a realistic look at inflation and deflation in 2023 and offering advice on cash flow management. The team breaks down the benefits of using a bond ladder strategy in cash flow planning and the possibility and probability of deflation and lower interest rates in Q4 and into 2024.     Stay tuned for a full market recap of 2023 coming in January 2024! We can’t wait to see who will win a Jimmy John’s sandwich for most accurate market predictions!    “Consumer spending is sustainable, the job market is remaining strong, and inflation is coming down naturally, and the Fed is now signaling they’re done. I’m gonna be a little hyperbolic and say I don’t see the hole in their argument right now. [The Fed] just deserve[s] a little bit of praise.” – Nate Tonsager    Episode Timeline/Key Highlights:  [00:58] Q3 Market Summary – What happened last quarter?  [02:23] Highest and lowest performing market sectors of Q3 of 2023.  [09:43] Building out a bond portfolio – Duration, returns, and cash flow planning.  [18:43] What surprised us about interest rates, stocks, and inflation in Q3 and YTD.  [29:39] Final Advice/Major Takeaways from Q3 of 2023.  [34:03] Were our 2023 market predictions right?    Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.      Resources Mentioned:  J.P. Morgan Guide to the Markets: https://bit.ly/48I0YbY    Follow our Portfolio Management team on LinkedIn:  Erin Hay https://www.linkedin.com/in/erinhay  Nate Tonsager https://www.linkedin.com/in/nate-tonsager-5a019b105  David B. Armstrong https://www.linkedin.com/in/davidbarmstrong/    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB   Connect with us on YouTube: https://bit.ly/YouTubeMWMFit    About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about.    Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.   

The specifics of executive compensation packages have major implications for personal wealth building over the long term. In this episode of Off the Wall, guest co-host Emily Harper, CFP® and co-host David B. Armstrong, CFA are joined by Laura Balser, Senior Client Partner, Executive Pay and Compensation at Korn Ferry.  Laura has over 20 years of experience consulting with publicly traded, privately held and not-for-profit organizations on executive reward and benefit programs across industries, including health care, distribution, manufacturing, biotechnology, and professional services.  During the conversation, Laura unpacks the current trends in executive compensation based on Korn Ferry's analysis of CEO pay at the top 300 publicly traded companies (by revenue), looking at how the pandemic drove changes in compensation across different industries. She underscores the continued emphasis on variable pay as shareholders demand performance-driven compensation, and how this creates challenges for retaining talent and satisfying shareholders.   Tune in for tips around negotiating executive compensation like seeking advice, anticipating counteroffers, and understanding the tax impact when exercising stock options. Laura also sheds light on emerging, innovative pay structures such as equity signing bonuses and mega grants and discusses the differences between Restricted Stock Units and Performance Stock Units.  "For the first time in probably 12 years, we're seeing more material declines than we've seen in the past. If stock options have been awarded, then they're likely underwater. And if the options don't appreciate enough to warrant exercising them...the individual has lost the ability for wealth creation. This is why having RSUs or time-based units as part of the equity mix is important because at least there’s a floor." – Laura Balser, Senior Client Partner, Executive Pay & Governance    Episode Timeline/Key Highlights:  [01:10] Introducing our guests & the topic of today’s episode.  [03:10] The current state of compensation packages and impacts driven by the Covid-19 pandemic.  [05:10] Industry-specific considerations: Which industries are more conservative vs. more aggressive in terms of pay increases?  [7:18] Innovative executive compensation programs to attract top talent in today’s competitive market, including mega grants, outperformance grants, Restricted Stock Units (RSUs) and Performance Stock Units (PSUs).  [16:50] What drives pay increases at the top of the house. Plus, a deeper look at generational trends in pay transparency at lower levels of the organization.  [19:00] Considerations around wealth creation opportunities and the tax liabilities that come along with stock-based compensation.   [28:10] What levers to pull (or not to pull) when negotiating your executive compensation package.  [35:00] Final thoughts around the future of compensation and shareholder expectations.     Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.      Resources Mentioned:  Stock Option Compensation Cheat Sheet:   https://monumentwealthmanagement.com/resource/stock-option-compensation-your-cheat-sheet-to-planning/  Connect with Laura Balser on LinkedIn: https://www.linkedin.com/in/laurabalser/  Learn about Korn Ferry: Korn Ferry | Organizational Consulting    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB   Connect with us on YouTube: https://bit.ly/YouTubeMWMFit    About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more at https://monumentwealthmanagement.com. 

Caring for aging parents involves so many details, from medical and financial decisions to legal, long-term care, and end-of-life wishes. Statistics show there’s a clear disconnect between parents and children around these decisions, so it’s important to start talking about this with your parents early. We hope this episode makes it easier and less stressful for you to navigate the process.  In this episode of Off the Wall, co-host Jessica Gibbs is joined by our client experience team, Cathleen Phelps and Cecelia Gilliam, along with Dean Catino, Co-Founder and Partner at Monument Wealth.  Throughout the conversation, we provide tips for how you can support your aging parents, let them take the lead where they can, and make sure they’re feeling heard and loved through every decision. We walk through a well-thought-out checklist of how to financially protect and help prepare yourself and your aging parents. Then, the team offers advice and some general information about legal and estate planning, downsizing/moving, long-term healthcare needs, and even protecting your parents from scammers.  “The most important step is really to begin. You have to start. And knowing that it can be very difficult and sometimes awkward, knowing that this will most likely be a process, it’s an investment in your folks and that’s what everyone wants… Everyone’s relationship with their families are very unique and the pathway traveled forward will also be very unique.”   – Dean Catino, co-Founder and Partner  Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.    Episode Timeline/Key Highlights:  [00:33] Introducing our guests & the topic of today’s episode.  [02:03] Why it’s important to start the aging conversation with your parents early.  [04:23] Where to start (checklist): Financially protecting yourself and your parents.   [15:05] Legal/Estate Planning: Essential documents your parents need and what you need to be aware of.  [29:28] Long-Term Healthcare Considerations: What care needs will my aging parents have?  [36:54] Senior Move Management: Tips for downsizing, moving, and organizing your parents’ estate.  [41:25] Final Advice/Takeaways: Everyone’s path is unique. The goal is to focus on keeping your parents safe, healthy, and happy! Patience, kindness, and support is vital.  Resources Mentioned:    Planning Ahead:    Thinking Ahead Roadmap and Financial Advocate Task List: https://thinkingaheadroadmap.org/downloads  From researchers at the University of Minnesota and Stanford Center for Longevity, and funded by AARP; a comprehensive toolkit that guides people to select someone they trust to help manage their money if financial decisions become too difficult in the future.  “Start the Elder Care Conversation” from Kiplinger: https://bit.ly/3DOotBT  Protecting Against Scams:  EverSafe – Scans accounts for unusual spending, POA can be notified: https://www.eversafe.com  Carefull – Online company that monitors for fraud and financial errors & provides identify theft insurance: https://getcarefull.com  2022 FBI Elder Fraud Report: https://bit.ly/47wrVPd  Financial Help:  SilverBills – Concierge service that makes sure bills are paid on time and inspects invoices for fraud and error: https://silverbills.com  Find a Financial Therapist: https://financialtherapyassociation.org/find-a-financial-therapist  Legal/Estate Planning:  Off the Wall Podcast – Estate Planning: https://bit.ly/3KD1dut  Aging Care, Retirement Communities, Downsizing:  Monument Wealth Management Article – LTC Insurance: https://bit.ly/47w1mte  National Association of Senior and Specialty Move Managers: https://www.nasmm.org  Senior Move Management Service: Great Falls Organizers | Professional & Estate Cleanout Northern Virginia: https://greatfallsorganizers.com  Genworth Long Term Care Costs by State: https://bit.ly/3s8HNHm  Unmet Healthcare Needs and Healthcare Access Gaps Among Uninsured U.S. Adults Aged 50–64: https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7215278  Caregiver Resources:  Geriatric Care Managers: https://bit.ly/3qtGaUa  Lighthouse Senior Care: https://lighthouseseniorcare.com  Caring Considerations: https://caringconsiderations.com    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB   Connect with us on YouTube: https://bit.ly/YouTubeMWMFit  About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about.    Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.   

In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs are joined by Erin Hay and Nate Tonsager from Monument Wealth Management’s portfolio management team. They dive into a lively and comprehensive discussion on market performance and key highlights of the second quarter of 2023.    Tune in to discover their insights on the robust job market, characterized by strong hiring figures and wage growth, the resilience of the market despite negative headlines and the anticipation of higher interest rates, and surprises from the first half of the year, including the absence of a recession and the disconnect between people’s perception of their portfolios and market realities.   They also explain why historical data suggests we could possibly have a promising second half of the year and discuss the importance of managing expectations.  “People are still getting wage growth. People have jobs and feel comfortable leaving their jobs because they see their prospects in other markets really kind of in a positive light, which is kind of crazy to think about when, as we said at the start of this, the great recession was coming this year… Really you haven’t seen that.” - Nate Tonsager, CIPM If you have an idea for an episode or a guest you’d like us to bring on in Q3, email us at [email protected].  Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.      Episode Timeline/Key Highlights:  [02:30] Q2 market performance summary   [04:19] Top 5 contributors to the S&P 500 in Q2.  [05:35] Worst performer in the S&P 500 during Q2.  [06:15] Surprising trends from the first half of the year.  [09:31] What performed well in Q2?  [18:24] The resilience of the market despite negative news.  [20:45] The discrepancy between individuals’ perceptions of their portfolios and market realities.  [23:40] Interpreting the data and actions for investors.  [25:15] Analyzing historical data to project forward returns for the S&P 500.  [27:25] Review your portfolio and adjust based on market conditions.  [30:30] Forecasting the market’s trajectory for the remainder of 2023.    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB     About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.     

Looking to grow your business’ value, maximize your exit results, and ensure financial freedom, even during a recession? To learn how, tune in to this episode! This is Part 3 of our series, Business Exit Planning is a Team Sport. In this episode, hosts David Armstrong and Jessica Gibbs wrap up their three-part discussion with Greg Maddox of Cultivate Advisors by discussing how to maximize your business value and your exit results, all while prioritizing business freedom, financial freedom, and personal freedom. Doubling down on the importance of hiring a wealth manager during exit planning, Greg talks about how to grow your business as an asset and diversify your income and wealth as a business owner. He then highlights what you should consider if you’re looking to maximize your exit options and sell your business during a recession. Finally, Greg addresses the 3 main problems business owners face in planning an exit and how to discern if an all-cash offer is right for you. Greg is also offering a free resource to help evaluate the health and value of a business: Get Cultivate’s Business Health and Value Assessment here: https://bit.ly/3COxTMW “Instead of chasing profit, if we focus on value first, revenue and profit come along for the ride. If you focus just on revenue and profit, you could probably make a lot of money, but whether or not you built an asset somebody else would pay you for, that’s less likely. So, I think it’s just a mental shift there.”  – Greg Maddox   Episode Timeline/Key Highlights: [00:22] Introducing Greg Maddox & the topic of today’s episode. [01:51] Growing Your Business: The difference between multiplying value and adding revenue. [03:44] How to multiply the value of your business. [10:44] Separating Your Business from Your Personal Wealth: Ways to diversify income and wealth as a business owner. [24:11] Maximizing your exit options during a recession: Evaluating buyers, deal structures, and future roles after exit. [35:26] Is an all-cash offer worth it? How do you know if it’s enough? [37:02] Greg’s final advice: Begin with the end in mind & Build a good exit team. [42:12] How to connect with Greg. Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.   Resources Mentioned: Listen to Part 1: https://bit.ly/gregmaddoxpart1 Listen to Part 2: https://bit.ly/gregmaddoxpt2 Learn more about Cultivate Advisors: https://cultivateadvisors.com Business Health and Value Assessment (Free): https://bit.ly/3COxTMW Listen to Best Practices for a Successful Business Exit with Kevin DeSanto: https://bit.ly/3prdBGo   About Greg Maddox: Greg is a Senior Business & Exit Advisor at Cultivate Advisors in Chicago, IL. As a serial entrepreneur, Greg Maddox provides his clients with the same long-term planning he used to make his own businesses successful. From owning a mortgage company that went through the housing bubble crisis to a financial services company during the ’08 financial crash, Greg steered his businesses with clear foresight no matter the turbulent environment. Now, as an advisor, Greg brings exit planning into the present and helps his clients live their Ultimate ExitLifestyle—even if they never sell! And for those ready to move on to the next chapter in their lives, he ensures they are mentally and financially prepared to fund their next step and live an amazing life.   Connect with Greg: Connect with him on LinkedIn: https://www.linkedin.com/in/gregorymaddox Visit his website: https://www.myexitlifestyle.com Email Greg: [email protected]   Connect with Monument Wealth Management: Visit our website: https://bit.ly/monumentwealthwebsite Follow us on Instagram: https://bit.ly/MonumentWealthIG Follow us on Twitter: https://bit.ly/MonumentWealthTW Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI Connect with us on Facebook: https://bit.ly/MonumentWealthFB Connect with us on YouTube: https://bit.ly/YouTubeMWMFit   About “Off the Wall”: OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.  

If you want to keep yourself, your family, and your assets safe throughout your business exit, tune in to this episode. This is Part 2 of our series, Business Exit Planning is a Team Sport.   Tune in as hosts David Armstrong and Jessica Gibbs continue their discussion with Greg Maddox of Cultivate Advisors. In this episode, they’re talking about the importance of prioritizing your personal wealth throughout a business exit (separate from business wealth) and why you need an experienced wealth advisor on your advisory team while planning your exit. Greg also teaches you how to identify, address, and manage risks in your business so you can have a smoother exit and post-exit experience. He also breaks down the tax strategies and tips you can use to save money now and set yourself up for success in the future.  “That’s what the freedom point is about, it’s about how do I sustain my life without my business, or make working in the business optional? That’s the freedom that we would eventually have.”   – Greg Maddox  Episode Timeline/Key Highlights:  [00:44] Introducing Greg Maddox & the topic of today’s episode.  [01:35] Why you should consult a wealth advisor during business exit planning.   [07:18] What’s your freedom point?  [13:03] Why do entrepreneurs need a wealth advisor that has experience with business ownership?  [17:01] Separating your personal wealth from your business wealth.  [24:36] How to identify the risks in your business.  [28:46] How to address/manage risks in your organization.  [36:23] The importance of business continuity planning.  [41:05] Tax strategies and tips for business owners who want to exit.  [47:18] Stay tuned for Part 3!    Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.      Resources Mentioned:  Listen to Part 1: https://bit.ly/gregmaddoxpart1  Learn more about Cultivate Advisors: https://cultivateadvisors.com     About Greg Maddox:  Greg is a Senior Business & Exit Advisor at Cultivate Advisors in Chicago, IL. As a serial entrepreneur, Greg Maddox provides his clients with the same long-term planning he used to make his own businesses successful. From owning a mortgage company that went through the housing bubble crisis to a financial services company during the ’08 financial crash, Greg steered his businesses with clear foresight no matter the turbulent environment. Now, as an advisor, Greg brings exit planning into the present and helps his clients live their Ultimate ExitLifestyle—even if they never sell! And for those ready to move on to the next chapter in their lives, he ensures they are mentally and financially prepared to fund their next step and live an amazing life.    Connect with Greg:  Connect with him on LinkedIn: https://www.linkedin.com/in/gregorymaddox   Visit his website: https://www.myexitlifestyle.com   Email Greg: [email protected]    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB   Connect with us on YouTube: https://bit.ly/YouTubeMWMFit    About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.   

Are you a founder/business owner looking to exit your business? Do you want to better understand the exit process and the types of advisors you need on your exit team? You’re in the right place. This is Part 1 of our series, Business Exit Planning is a Team Sport.  In this discussion, our guest reframes exit planning in a whole new light, to illustrate how exit planning is just great business strategy. Listen in as hosts David Armstrong and Jessica Gibbs welcome Greg Maddox, a Senior Business & Exit Advisor at Cultivate Advisors, to talk about why you need to run your business with an exit in mind and the three key advisors you need by your side.  You’ll also learn three common challenges business owners face and how exit planning can solve them. You’ll gain insights on how to figure out your “freedom point” in business, the exit plan action steps you should take while actively running your business, and how to build an exit team that will actually increase your ROI and make your exit process smoother and easier.  “We’re all going to exit at some point. Hopefully, it’s on our terms and timeline.”   – Greg Maddox  Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.    Episode Timeline/Key Highlights:  [00:41] Introducing Greg Maddox & the topic of today’s episode.  [02:19] The difference between exit planning and leaving your business.  [07:10] Why 75% of business owners regret selling their business.  [11:36] The mindset shift you go through after exiting your business.  [12:27] Why you need a business exit team & Types of advisors you need.  [20:47] Why do you need a wealth manager for an exit, not just a financial advisor?  [29:00] Why you need to run your business with an exit in mind.  [36:09] Stay tuned for Part 2!  Resources Mentioned:  Learn more about Cultivate Advisors: https://cultivateadvisors.com  About Greg Maddox:  Greg is a Senior Business & Exit Advisor at Cultivate Advisors in Chicago, IL. As a serial entrepreneur, Greg Maddox provides his clients with the same long-term planning he used to make his own businesses successful. From owning a mortgage company that went through the housing bubble crisis to a financial services company during the ’08 financial crash, Greg steered his businesses with clear foresight no matter the turbulent environment. Now, as an advisor, Greg brings exit planning into the present and helps his clients live their Ultimate ExitLifestyle—even if they never sell! And for those ready to move on to the next chapter in their lives, he ensures they are mentally and financially prepared to fund their next step and live an amazing life.  Connect with Greg:  Connect with him on LinkedIn: https://www.linkedin.com/in/gregorymaddox   Visit his website: https://www.myexitlifestyle.com   Email Greg: [email protected]  Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB   Connect with us on YouTube: https://bit.ly/YouTubeMWMFit  About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com. 

Are you a founder or business owner who’s looking to scale your vision, develop high-level leadership skills, or transition from startup to corporate? Then you’ll want to tune in to this lively discussion with our special guest, Seneca Smith, Senior Manager in the Human Capital Practice at Deloitte Consulting.  In her work at Deloitte, Seneca advises businesses on how to approach global transformation, specifically focusing on defining the future of work, designing adaptable organizations, and preparing leadership and the workforce for change.  In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs talk to Seneca about her experience working with leaders to scale their businesses, vision, and leadership skills. She provides key insights such as why all founders should hire a leadership coach, how to align your business and workforce strategies, and what to do if you’re stuck in the ‘Norming’ stage of business growth. Plus, Seneca shares tips and advice on how you can better delegate responsibilities, so you’re not stuck wearing all the hats as a founder.  "One of the challenges of getting stuck at ‘norming’ is you are now in a place that is comfortable: You are hitting your targets and doing work in a way that feels operationally efficient—but that doesn't necessarily mean that you're achieving innovative goals. You're not getting to that next stage of performing and really stretching. One of the reasons might be for that fear that you would fall back into ‘storming’ phase because performing includes an element of risk.” - Seneca Smith  Please see important podcast disclosure information at https://monumentwealthmanagement.com/disclosures.      Episode Timeline/Key Highlights:  [00:52] Introducing Seneca Smith & the topic of today’s episode.  [01:57] Forming, Storming, Norming, & Performing.  [02:52] What should founders be thinking about and doing when going from startup to formal business (from Forming to Storming)?  [04:36] Scaling your vision for your business.  [11:06] What to do if you’re stuck in the Norming stage & How to break into the Performing stage.  [14:01] Wearing all the hats isn’t sustainable for founders. How can founders better delegate tasks? How do their leadership skills evolve?  [17:17] Signs you need to hire a leadership coach.  [20:05] Dave’s experience as a founder working with a leadership coach.  [23:35] Aligning your business strategy with your workforce strategy + tips for outsourcing.    Resources Mentioned:  Learn more about Deloitte Consulting: https://www2.deloitte.com    About Seneca Smith:  Seneca is a Senior Manager in Human Capital Practice of Deloitte Consulting. She focuses on strategic organizational / workforce transformation and readiness. She advises Financial Services clients engaged in redesigning their core business operations, workforce strategy, and technical landscape. She uses human-centered design thinking to tackle transformation, with a focus on leadership alignment, change management, culture, and employee engagement.  Seneca focuses primarily in the insurance sector and has served a broad cross-section of the industry. Her clients include AIG, New York Life, Prudential, Travelers, CNO, Securian, State Farm, Lockton, Auto Club Group, FIS, Bank of America, and Guardian Life.    Connect with Seneca:  Connect with her on LinkedIn: https://www.linkedin.com/in/senecamsmith    Connect with Monument Wealth Management:  Visit our website: https://bit.ly/monumentwealthwebsite   Follow us on Instagram: https://bit.ly/MonumentWealthIG   Follow us on Twitter: https://bit.ly/MonumentWealthTW   Connect with us on LinkedIn: https://bit.ly/MonumentWealthLI   Connect with us on Facebook: https://bit.ly/MonumentWealthFB  Connect with us on YouTube: https://bit.ly/YouTubeMWMFit       About “Off the Wall”:  OFF THE WALL is a podcast for business professionals and high-net-worth investors who want to build wealth with purpose. A little bit Wall Street, a little bit off-the-wall; it's your go-to for straightforward, unfiltered wealth advice on topics that founders, business owners, and executives care about. Learn more about our hosts, Dave and Jessica on our website at https://monumentwealthmanagement.com.