Category Archives: Wealth

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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)

 


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Episode 49 – Creating and Building a 100-Year Family Vision – Part 1



There’s no greater satisfaction than knowing and seeing that the wealth you built is passing down through the generations correctly.

Would you agree?

In part one of this two-part mini-series, John and Michael Parise explain everything you need to know about correctly handling multigenerational wealth. They highlight the importance of being aligned on the family financial strategy, no matter what generation you are.

In this episode, you will learn:

  • John’s take on what the “shirtsleeves to shirtsleeves in three generations” proverb means
  • How generations one, two, and three have taken care of family wealth historically 
  • John and Michael’s insight on generational leadership
  • The importance of being responsible with your wealth
  • And more!

Tune in to find out how family values, adaptation, and communication can influence the establishment of a multigenerational wealth vision! 

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise | Thomas J. Stanley’s The Millionaire Next Door | James Grubman’s Strangers In Paradise


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Episode 48 – A Trip Around Italy Examining Wine – With Guest Tim O’Rourke



On this leg of our Wine Adventure, we take a look at the Italian region! 

In this episode, John and Michael Parise sit down with Tim O’Rourke to identify the wines that come out of Italy, what sets these wines apart from the rest and how you can choose an Italian wine that pairs with your meal.  

In this episode, you will learn:

  • What wines come out of the different regions of Italy 
  • How you can find quality wines for quality prices 
  • Tools that you can use to find the wine you are looking for 
  • What you can do to find your wine preference  
  • What Italian wines pair with what meals
  • And more!

Tune in now to add some information to your knowledge on wine and how you can find one that suits you! 

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise 


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Episode 47 – A Deep Dive into The French Wine Industry – With Guest Tim O’Rourke



France is one of the world’s largest producers of wine, and is the source of many grape varieties such as Cabernet Sauvignon, Chardonnay, Sauvignon blanc, and Pinot noir. 

In this episode, John and Michael Parise sit down with wine investor Tim O’Rourke to examine what sets France apart as a producer of wine and how wine can be a multi-generational business, as well as tips for wine collecting and storage. 

In this episode, you will learn:

  • How and where Cabernet Sauvignon was initially created 
  • Why winemaking is a “freelance” creation that depends on the winemaker 
  • Tim’s take on what determines the cost of wine bottles 
  • Winemaking as a multi-generational business
  • The importance of being “temperature consistent” when storing wines 
  • And more!

From France to the rest of the world, tune in to find out everything you need to know about the evolution of French wine and champagne! 

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise 


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Episode 46 – Measuring Risk In A Family Wealth Plan



To what extent have you involved and taught your family about risk calculation? 

In this episode, John and Michael Parise explain the importance of communicating and involving your family in wealth plan risk calculation. They highlight the different risks you and your family should ALWAYS consider when it comes to generational wealth planning. 

In this episode, you will learn:

  • Must-have tax considerations when stepping out of the market 
  • How emotions can impact the amount of risk an individual is willing to take on
  • How Copper Beech Financial Group prepares clients for potential business risk 
  • The importance of communication when it comes to assessing family risk
  • And more!

Tune in as John and Michael dive deep into family risk assessment while explaining that the more you can preserve in taxes – the more your account value will grow! 

Resources: Copper Beech Financial Group | (856) 988-8300 | John Parise | Michael Parise