Category Archives: Finance

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59. The Plan For Succession in the Family Business

Do you have a succession plan in place for your family business? 

In this episode, Michael Parise shares his personal experience with succession planning as the second generation within his family business. He reveals the importance of communication between generations when developing your business succession plan, and how the expectations of each generation can shape the future of your business.

Michael discusses:

  • How you can create a sustainable succession plan that will keep your business intact through the generations
  • How the expectations of each generation impacts the succession planning process
  • Why you need to have open communication between generations in your planning
  • The benefit of working with outside sources and experts when creating a plan for your family business
  • And more

Discover what you need to create a sustainable succession plan with Michael Parise!


Copper Beech Financial Group: (856) 988-8300 | John Parise | Michael Parise | Investedge | Episode 57

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Episode 58: Approaching Governance Planning – Part 2 – With Jeff Savlov

By now, you should be knowing that governance is all about helping families stay organized and guided within their business. But where can you get started?

In the second part of this two-part series, John and Michael Parise are joined by returning guest, Blum & Savlov, LLP’s Jeff Savlov.  This time, Jeff takes a deep dive to explain how families can begin and approach governance planning. 

You will learn:

  • The three areas of focus when families are considering governance planning
  • Vision and mission statements as two simple methods of governance 
  • How John and Michael deal with meritocracy and governance planning at Copper Beech 
  • Governance planning as a solution for resistant (or opposing) generations 
  • The role of a family council within the governance process
  • And more!

Listen in and find out the moral and legal components of governance planning!


Part 1 | Copper Beech Financial Group: (856) 988-8300 | John Parise | Michael Parise | Jeff Savlov | Blum & Savlov, LLP: T. 732-296-8047 / C. 732-266-7572 / F. 732-284-4257 | Simon Senek

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Episode 57: Governance at an Enterprising Family Level – With Jeff Savlov

Family governance refers to the structures and processes families use to organize themselves and guide their relationship with their enterprise.

In the first part of this two-part series, Jeff Savlov, founder of Blum & Savlov, LLP joins John and Michael Parise to explain the family component of governance. Jeff highlights how families and their businesses can build and benefit from their governance plan, while highlighting potential drawbacks of low governance arrangements.  

You will learn:

  • What is so complex about a family governance creation 
  • How a formal governance document plan can avoid what Jeff calls “toxic informality”
  • The difference between a family business and an enterprising family business 
  • Consequences of poor governance planning 
  • And more!

Join the conversation to discover the crucial role of governance when it comes to picking the next leader for the family business! 

Resources:  Copper Beech Financial Group: (856) 988-8300 | John Parise | Michael Parise | Jeff Savlov | Blum & Savlov, LLP: T. 732-296-8047 / C. 732-266-7572 / F. 732-284-4257

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Episode 56: The Ultimate Episode Guide You MUST Revisit and Listen To

The Copper Beech team is going back to the classics in this highlight reel episode!

In this episode, John and Michael Parise revisit a series of episodes you must listen to in order to help you gain insight to overcome and solve potential concerns about your generational wealth planning.

You will learn:

  • The importance of estate planning – episodes 14 and 26
  • All things within the tax world and tax law changes – episodes 27, 36, and 42
  • Conversations about life insurance – episode 19
  • Why business owners should revisit their business succession plan – episode 33
  • Understanding the generational components of trusts – episodes 12 and 13
  • What you should really know about 1031 exchanges – episode 52
  • And more!

Listen today and find out why and how all these episodes introduce and talk about things  clients are always concerned about!

Resources: Copper Beech Financial Group | John Parise | Michael Parise 


Episode 12 | Episode 13 | Episode 14 | Episode 19 | Episode 22 | Episode 23 | Episode 26 | Episode 27 | Episode 30 | Episode 31 | Episode 33 | Episode 34 | Episode 36 | Episode 42 | Episode 52 

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Episode 55 – Case Studies: Annuities as Helpful Multi-Generational Planning Tools – Part 2 – With Michael R. Harris, CFP®, ChFC

Annuities can be hugely beneficial for multi-generational planning, but how do you really go about doing that? What are the technical components of including annuities in your plan?

In part two of this two-part series, Mike Harris, senior education advisor at the Alliance for Lifetime Income, once again sits down with John and Michael Parise to explain the use of annuities as multi-generational planning tools, sharing successful case studies and real-life experiences. 

In this episode, you will learn:

  • The emotional components of annuities and planning: Creating legacies as a way to remember loved ones
  • The eye-opening truth about annuity guarantee and protection policies 
  • How to use annuity structures for special needs children
  • How and why it’s important to use the correct annuity for your situation within your plan 
  • And more!

Remember, annuities for multigenerational planning need the assistance of a financial advisor. Discover how you can get started today! 

Resources:  Part 1 | Copper Beech Financial Group: (856) 988-8300 | Michael R. Harris, CFP®, ChFC | The Alliance for Lifetime Income

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Episode 54 – Annuities as a Helpful Income Planning Tool – With Michael R. Harris, CFP®, ChFC

The Alliance For Lifetime Income’s Michael R. Harris is all about helping YOU address the risk of outliving your retirement income.

In this episode, John and Michael Parise speak with Mike Harris to discover everything Mike has to say about annuities, and how to creatively use them within your income planning. 

You will learn:

  • An investor-related definition of annuities
  • Why it is so important to plan for retirement-related income streams
  • The pros and cons of a traditional annuitization
  • What does the general public think of annuities: Research done by The Alliance For Lifetime Income 
  • How advisors and clients can approach annuity discussions, cost and value-wise 
  • And more!

No matter if it’s an investment or annuity – they all need planning.  Listen in to find out why!

Resources: Copper Beech Financial Group | (856) 988-8300 | Michael R. Harris, CFP, ChFC | The Alliance for Lifetime Income | Cited Source: Risky Business: Living Longer Without Income for Life | Cited Source: CBS News: How to estimate your lifetime retirement paycheck

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Episode 53 – A Discussion on Business And Family Leadership – With Guest Robert Brown

Strong leadership is crucial for generational wealth and business transfer.

In this episode, John and Michael Parise sit down with their first client guest, CEO and president of American Asphalt Company, Robert Brown. Robert draws from his own business experience and journey to discuss the importance of sharing leadership values and training with the next generation to continue achieving success once the business is passed down. 

In this episode, you will learn:

  • How and when leadership became a core and philosophical concept for Robert 
  • Lessons Robert learned while becoming a business leader 
  • Tips how to pick the next leader in the family
  • Trust, communication and professional leadership training: How to be a great coach to employees
  • How Copper Beech has helped Robert establish buy-sell agreements for his own firm 
  • And more!

Tune in today to discover how leadership can help you achieve personal and generational business success! 

Resources: Copper Beech Financial Group | (856) 988-8300 | American Asphalt Company | Robert Brown


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Episode 52 – A Deep Dive Into the 1031 Exchange – With Guest Gary Callahan

While Section 1031 of the Tax Code provides tax deferral solutions for the nation’s middle-class, it’s also a helpful tool for economic and job growth.

In this episode, John and Michael Parise sit down with Gary Callahan, the senior vice president of Inland Securities Corporation. Today, Gary shares his expertise in the 1031 exchange arena. He refers to this unfamiliar tax benefit for real estate investors, even though it has been in the tax code for a long time.

In this episode, you will learn:

  • How a 1031 exchange can help you avoid real estate-related taxes 
  • Gary’s role in 1031 exchange education for real estate attorneys, accountants, and CPA’s
  • The difference between a 1031 exchange transaction and trust structure 
  • Diversification of assets as a Delaware Statutory Trust (DST) benefit 
  • The timeline of a 1031 exchange: What are its deadlines 
  • And more!

Tune in and find out how Gary and his team at Inland can help YOU and your clients in their 1031 exchange! 

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise | Gary Callahan | Inland Securities Corporation

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Episode 51 – Clarke & Cohen: Yet Another Successful Family Business – With Guest Richard Cohen, SPPA

Pennsylvania-based public insurance adjusters firm Clarke & Cohen is a 100-year family business that has already reached the fourth generation. 

In this episode, John and Michael Parise sit down with public adjuster and the firm’s CEO, Richard Cohen, SPPA. Today, Richard reviews his family and the business journey that’s closely related to the building and continuous success of Clarke & Cohen.

In this episode, you will learn:

  • The role of the four generations in positively contributing to Clarke & Cohen’s growth 
  • Helping people out: Richard’s motivation to get into the family business 
  • The “prerequisites” to get into the public insurance adjusting business 
  • How Richard and his family separate family and business conversations  
  • Networking and having an open mind: Traits that have contributed to Richard’s success at the firm 
  • And more!

Listen in to learn about the family, business, logistic components that have helped Clarke & Cohen successfully grow! 

Resources: Copper Beech Financial Group | (856) 988-8300 | Clarke & Cohen | Richard Cohen

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Episode 50 – How Future Generations Can Maintain Their Family’s 100-Year Vision – Part 2

Are you in your family’s second or third generation, and interested in learning how to carry on your family’s wealth?

In part two of this two part series, John and Michael Parise discuss different considerations second and third generations must have when handling their family’s wealth, highlighting the importance of effective communication and data organization. 

In this episode, you will learn:

  • The role of the second generation in passing down family wealth 
  • Legacy letters and mission statements as generational roadmaps 
  • How culture shift impacts generational wealth  
  • How having a “beginner’s mind” can help when building a family’s future 
  • Easy ways to involve later generations in the family’s wealth 
  • And more!

Listen today to find out the role of the second and third generations when handling and passing down family revenue!

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise | Creating and Building a 100-Year Family Vision (Part One)