Tag: John and Michael Parise

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Turning Risk Into Opportunity Via Enterprise Risk Management with Kyle Hanson (Ep. 103)

Turning Risk Into Opportunity Via Enterprise Risk Management with Kyle Hanson (Ep. 103)

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You can protect your business against risks while also leveraging them as opportunities for growth.

In this episode, John and Michael Parise are joined by Kyle Hanson, the director of business development at Madison Insurance Group, to talk about enterprise risk management.  

Kyle unveils the firm’s application of SWOT analysis to enterprise risk management while sharing client case studies, highlighting the various risk coverages available.

John, Michael, and Kyle discuss:

  • What’s enterprise risk management, and how it differs from basic risk management
  • How risk can be positive (not just a threat) in a SWOT analysis
  • How Madison Insurance Group integrates strengths, weaknesses, opportunities, and threats (SWOT) into the enterprise risk management they do for clients
  • Some of the different risk coverages Madison Insurance Group offers
  • And more!

Connect with Kyle Hanson:

Connect with John and Michael Parise:

About Our Guest: 

Kyle Hanson is a Director of Business Development who works in close collaboration with the Director and President, Mark Sims, to strategize, organize, and execute new business development and public relations activities. 

With over a decade of public speaking experience and an accomplished academic background, Kyle is a sought-after conference presenter and a former column editor for the American Choral Directors Association’s national journal. 

Before joining MIG, Kyle honed his skills in non-profit development through an internship at the Indianapolis Symphony Orchestra and a clinical workshop in artistic development at the Baltimore Symphony Orchestra. 

Kyle holds a High Distinction degree from Indiana University Jacobs School of Music and two additional Masters degrees from Bowling Green State University and Indiana University.

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Here’s How Copper Beech Helps Business Owners Plan For Generational Wealth (Ep. 102)

Here’s How Copper Beech Helps Business Owners Plan For Generational Wealth (Ep. 102)

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Today’s topic is pertinent to business owners. If you’re grappling with unique financial challenges related to entrepreneurship and business ownership, this episode is for you.

This week, John and Michael Parise explore a case study about a client who owns a business. They provide a detailed walkthrough of their process from start to finish while detailing how they helped the client gain a generational wealth mindset by emphasizing education around how he thought about his finances.

John and Michael discuss:

  • The three key areas the client wanted to focus on and sought help from Copper Beech
  • Copper Beech’s approach to managing wealth for future generations (long-term instead of short-term planning)
  • Why family meetings were critical to the planning process
  • The recommendations their client’s family implemented and why
  • And more!

Resources:

Connect with John and Michael Parise:

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Shifting How We Work To Transform The Way We Live — Part 2 with Joe Mechlinski (Ep. 101)

Shifting How We Work To Transform The Way We Live — Part 2 with Joe Mechlinski (Ep. 101)

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It’s no secret that the hybrid working environment has evolved.

So, how can companies make sure their employees are bringing their A-game and representing their values without scheduling yet another Zoom meeting? 

In this episode, John and Michael Parise continue their conversation with Joe Mechlinski, the CEO of SHIFT.

This time, Joe unveils the challenges that business leaders are facing in today’s work environment. Listen in and learn more about what SHIFT does and its role in helping executives improve their team’s communication, work culture, and employee engagement.

Joe discusses:

  • The size of the companies and teams that SHIFT helps
  • Why asynchronous collaboration is the solution for a happy hybrid work environment
  • SHIFT’s approach to helping strengthen a firm’s work culture
  • Ways a company can start working with SHIFT
  • The importance of taking care of your employees and giving them what they need to bring their best selves to work
  • And more!

Resources:

Connect with Joe Mechlinski:

Connect with John and Michael Parise:

About Our Guest: 

Joe Mechlinski is a bestselling author, speaker, and social entrepreneur who helps organizations build engaged, mission-driven cultures. He challenges business leaders to strategically approach talent acquisition, development, and retention. Joe founded four businesses, each with varying degrees of success, which provided him with valuable insights and hands-on experience. At 23, Joe established SHIFT, a collective of businesses that revolutionized workforce engagement.

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Celebrating 100 Episodes of The Truth About Wealth

Celebrating 100 Episodes of The Truth About Wealth

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John and Michael Parise have made it to 100 episodes!

And this week’s release is all about celebrating this achievement with you! Listen in as John and Michael celebrate their 100th episode by reflecting on their podcasting experiences. Together, they share some stories, reminisce about past episodes, and reveal their favorite moments as podcasters.

John and Michael discuss:

  • The beginnings of The Truth About Wealth Podcast
  • How their holistic family approach has let them help families build generational wealth
  • Instances where their show has helped both clients and strangers alike with their family wealth
  • Podcasting and annual symposiums as the resources they use to help families 
  • Some of the most educational and memorable episodes they have recorded
  • And more!

Resources:

Connect with John and Michael Parise:

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Shifting How We Work To Transform The Way We Live — Part 1 with Joe Mechlinski (Ep. 99)

Shifting How We Work To Transform The Way We Live — Part 1 with Joe Mechlinski (Ep. 99)

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Change starts by shifting our working environment.

Would you agree?

In this episode, John and Michael Parise explore how transforming the way we work can have a profound impact on the real world with Joe Mechlinski, the CEO of SHIFT. 

Joe unpacks how SHIFT helps companies effectively manage their resources and create engaged employees. He also talks about the core values of his entrepreneurial success and the changes in the workplace ever since going virtual.

Joe discusses:

  • SHIFT’s approach to helping executives establish a clear direction for their organization
  • Ways the firm helps executives create an engaged and motivated workforce 
  • The values he learned from his father and how they continue to contribute to his entrepreneurial success
  • From working in an office to working remotely: How emotional intelligence (EQ) has changed post-pandemic 
  • The differences in the workplace between current and previous generations
  • And more!

Resources:

Connect with Joe Mechlinski:

Connect with John and Michael Parise:

About Our Guest: 

Joe Mechlinski is a bestselling author, speaker, and social entrepreneur who helps organizations build engaged mission-driven cultures. He challenges business leaders to strategically approach talent acquisition, development, and retention. Joe founded four businesses, each with varying degrees of success, which provided him with valuable insights and hands-on experience. At 23, Joe established SHIFT, a collective of businesses that revolutionized workforce engagement.

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Investing In Oil And Gas with Don Hosmer (Ep. 97)

Investing In Oil And Gas with Don Hosmer (Ep. 97)

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Many people have been questioning oil and gas with regard to America’s current politics. Luckily, Don Hosmer from Royale Energy, Inc., is here to provide us with some insight!

In this episode, John and Michael Parise speak with Don Hosmer from Royale Energy, Inc. Don talks about investing in oil and gas. He highlights the benefits of the industry from an investment standpoint, its tax benefits, and opportunities based on its peak demand.

Don discusses:

  • The fundamental and psychological reasons behind the softness seen in the oil market
  • The current challenges that the oil industry is facing in the public sectors
  • The current state of the oil reserve and the life cycle to replenish it
  • The tax benefits of his investment program and of investing in oil and gas
  • The risks involved in drilling for oil and gas
  • And more!

Connect with Don Hosmer:

Connect with John and Michael Parise:

About Our Guest: 

Don Hosmer resides in California and is Royale Energy, Inc’s CEO,  an oil and natural gas company. 

Don started the company with his father in 1986. They started with a team of geologists and engineers and started the company primarily as a natural gas producer. 

Approximately three years ago, Royale Energy, Inc. merged with a team of petroleum engineers to form the oil and gas company that is today.

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Insurance Options When US Insurance Providers Can’t Cover Your Needs with Sean McNiff (Ep. 96)

Insurance Options When US Insurance Providers Can’t Cover Your Needs with Sean McNiff (Ep. 96)

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If your traditional insurance provider won’t cover specific risks for you or your business, you have additional options to protect yourself, your business, and your family.

In this episode, John and Michael Parise interview Sean McNiff from Exceptional Risk Advisors about some alternative insurance the firm provides. Sean shares a variety of case studies, from examples of when his work made a significant impact on his clients to some interesting insurance stories. He also talks about the creativity and customization that goes into protecting businesses and families.

Sean discusses:

  • What do Exceptional Risk Advisors and other cover holders for Lloyd’s of London do, who they insure, and what they cover
  • A variety of insurance case examples of when his work seemed to make a huge difference for his client base
  • Why it’s so important for business owners to regularly update their net worth valuations for insurance
  • The creativity and customization that goes into protecting families and businesses 
  • And more!

Connect with Sean McNiff:

Connect with John and Michael Parise:

About Our Guest: 

Sean McNiff is the Vice President of Business Development & Marketing at Exceptional Risk Advisors. He is passionate about developing new business relationships and educating the marketplace. Sean has been with Exceptional Risk Advisors from the day it was founded. His focus lies in working with sophisticated life, executive benefit, and disability insurance advisors whose clients can benefit from partnering with Exceptional Risk Advisors.

Sean received a BA in Communications and graduated Magna Cum Laude from the University of Rhode Island. When he’s not advising clients, he’s outside playing tennis, hiking, skiing, and spending time with his wife and their two children.

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Esoteric Tax Planning Strategies For American Businesses with Matthew Kirk (Ep. 95)

Esoteric Tax Planning Strategies For American Businesses with Matthew Kirk (Ep. 95)

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Every business owner wants to save on taxes, and there’s a variety of tax planning strategies available in the US.

In this episode, John and Michael Parise speak with Matthew Kirk from Holland & Knight about an esoteric tax planning strategy that not many American businesses know about. Matthew gives an overview of the tax benefits in Puerto Rico and the Virgin Islands, explains the rationale behind them, and unpacks some of the finer details, cautioning businesses to speak with a proactive financial professional about using this strategy.

Matthew discusses:

  • An overview of the tax benefits in Puerto Rico and the US Virgin Islands and the differences between the two
  • The rationale for the tax benefits in both US territories
  • The importance of discussing the small details and any questions about these jurisdictions with proactive financial professionals
  • And more!

Connect with Matthew Kirk:

Connect with John and Michael:

About Our Guest: 

Matthew Kirk is a private wealth services attorney in the Holland & Knight’s Atlanta office. Matthew focuses his practice on designing and implementing sophisticated wealth planning and transfer strategies for high-net-worth individuals that often combine objectives of tax minimization, wealth preservation, succession planning, and business planning.

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Case Study: Don’t Let Procrastination Hinder Your Generational Estate Planning (Ep. 94)

Case Study: Don’t Let Procrastination Hinder Your Generational Estate Planning (Ep. 94)

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They say, “an ounce of prevention is worth a pound of cure.”

When families procrastinate with advanced estate planning, it can jeopardize the success of the next generation and their assets.

In this episode of The Truth About Wealth, John and Michael Parise share a case study that illustrates how they’ve been helping one particular family with their estate planning. Listen in as John and Michael describe their process of minimizing generational taxes by 80% and preparing the next generation to inherit the family business.

John and Michael discuss: 

  • Ways Copper Beech approaches this case study and clients focused on estate planning 
  • The estate planning options they suggest for asset protection
  • How families can reduce and protect themselves from estate tax exposure
  • How to effectively prepare the next generation to inherit the family business and/or assets
  • The role of trusts and liquidity when it comes to estate planning
  • And more!

Connect with John and Michael:

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Cost Segregation In Real Estate — Part 2 with Isaac Downing (Ep. 93)

Cost Segregation In Real Estate — Part 2 with Isaac Downing (Ep. 93)

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Did you know that cost segregation studies can be conducted on commercial and residential properties?

This week on The Truth About Wealth, Isaac Downing, the regional director at Capstan Tax Strategies, is back to unpack everything you need to know about the 1031 Exchange and cost segregation studies within commercial and residential real estate properties. Isaac also outlines the tax benefits these studies can provide to passive and active investors.

Isaac discusses:

  • The 1031 Exchange as a powerful tool within the real estate arena
  • How tenants can benefit from cost segregation studies
  • Ways accelerated depreciation works
  • Cost segregation studies according to different property types  
  • And more!

Resources:

Connect with John and Michael Parise:

Connect with Isaac Downing:

About Our Guest:

Over the last decade, Isaac Downing has played every role in the cost segregation industry – he’s been an engineer performing studies, an accountant reviewing studies, and a salesperson selling studies.  Now he’s bringing that wealth of experience – and the associated unique perspective — to Capstan Tax Strategies.

It’s not typical for salespeople to have accounting and engineering experience, but Isaac is anything but ordinary.  A proud Marine, Isaac spent 4 years as a USMC Engineer, and then earned an additional degree in Accounting and Finance.