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. Connect with us on Instagram @MonumentWealth or on LinkedIn at Monument Wealth Management. Thanks for joining us!
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The Future of Work: AI's Impact on Your Career & Wealth Strategy with Liza Adams
05/08/2025
The Future of Work: AI's Impact on Your Career & Wealth Strategy with Liza Adams
AI is evolving fast, but what does it mean for how we think, work, invest, and lead? In this episode of Off the Wall, David B. Armstrong, CFA, and Nate W. Tonsager, CIPM, sit down with AI & Exec Advisor and Fractional CMO Liza Adams to unpack AI’s real impact and how the most successful leaders are using it. From creating your own GPT to navigating the fear of job loss, they explore how AI is transforming everything from creative thinking to strategic decision-making. Bonus: Liza shares her GRACE framework for writing better prompts and explains why embracing AI as a thought partner—not just a tool—could be the key to staying relevant in a rapidly shifting landscape. Please see important podcast disclosure information at Episode Timeline/Key Highlights: 0:00 Introduction & Important Disclosure 4:51 AI Truths 9:05 Digital Twins and AI as Teammates 14:02 Liza’s GRACE Framework 16:31 Evolution of Jobs 26:40 Empathy in AI Adoption 39:20 Making AI Work for Business 44:17 Closing Remarks and Resources About Liza Adams: Liza Adams is an AI and executive advisor, fractional CMO, and founding partner at GrowthPath Partners. With over 20 years of experience leading businesses and go-to-market teams through industry inflection points, she helps organizations accelerate responsible AI adoption through strategic marketing transformation and applied AI initiatives. Her work has driven measurable impact—achieving 35% better campaign performance, 98% lead qualification accuracy, and 75% faster content creation in just six months. Recognized as a top AI thought leader by SaaStr and Pavilion, she’s also been named one of the “50 CMOs to Watch.” Her insights have been featured in Forbes, MarketingProfs, and more. In this conversation, she shares what it takes to scale teams with both human and AI talent, and why responsible innovation is the key to long-term growth. Connect with Liza on LinkedIn: https://www.linkedin.com/in/lizaadams/ Connect with Monument Wealth Management: Visit our website: https://bit.ly/monumentwealthwebsite Follow us on Instagram: https://bit.ly/MonumentWealthIG Connect on LinkedIn: https://bit.ly/MonumentWealthLI Connect on Facebook: https://bit.ly/MonumentWealthFB Connect on YouTube: https://bit.ly/YouTubeMWMFit Subscribe to our Private Wealth Newsletter: 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.
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Q1 Market Recap: Tariffs, Inflation, and Growth—Reading Between the Headlines
04/09/2025
Q1 Market Recap: Tariffs, Inflation, and Growth—Reading Between the Headlines
Are tariffs the problem or just a symptom? Recent tariff announcements are stirring up uncertainty. What does that mean for inflation, economic growth, and investor sentiment? In this episode of Off the Wall, hosts Jessica Gibbs, CFP®, and David B. Armstrong, CFA, are joined by Monument Wealth Management’s Portfolio Management team Erin M. Hay, CFA, CMT®, and Nate W. Tonsager, CIPM® to address the biggest market headlines in the first quarter of 2025. Dave breaks down where we’ve seen the biggest market swings, Erin digs into how sector rotation and technical indicators are shaping his outlook, and Nate explains that market volatility works both ways and isn't just to the downside. The conversation then delves deeper into the realities of market volatility, exploring why corrections and sharp sell-offs are less about impending doom and more about natural market cycles. Hear their candid discussion on the challenges of timing the market, the importance of maintaining a cash buffer, and why a long-term strategy remains your best defense amid short-term noise. Please see important podcast disclosure information at Episode Timeline/Key Highlights: 0:00 Introduction & Important Disclosure 1:30 What Happened in the Q1 Market 2:40 Important Headlines from Q1 10:17 Tariffs and What They Mean for Investors 15:30 What Investors May Be Missing 25:30 Getting Lost in the Headlines 28:30 How to Deal with Volatility in the Market 37:30 Concluding Thoughts Connect with Monument Wealth Management: Visit our website: https://bit.ly/monumentwealthwebsite Follow us on Instagram: https://bit.ly/MonumentWealthIG Connect on LinkedIn: https://bit.ly/MonumentWealthLI Connect on Facebook: https://bit.ly/MonumentWealthFB Connect on YouTube: https://bit.ly/YouTubeMWMFit Subscribe to our Private Wealth Newsletter: 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.
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Should You Invest In Private Equity? Weighing the Pros and Cons with George Coyle
03/10/2025
Should You Invest In Private Equity? Weighing the Pros and Cons with George Coyle
Private Equity seems to be having a moment. After a few decades of being reserved for the most qualified investors, the gates have been opened to the masses. Today, we’re looking at just why this shift is happening, what it means for you, and what you should consider before investing in Private Equity including returns, fees, and flexibility compared to the stock market. In this episode of Off the Wall, hosts David B. Armstrong, CFA®, and Erin M. Hay, CFA®, CMT®, are joined by George Coyle, Chief Investment Officer of Triangulated Capital Management to answer the most pressing questions around Private Equity investing today. “We had arguably 15 to 20 years of very low interest rates. How much low-hanging fruit or fruit at all on the tree of private equity is left? It seems to me that anything that could be made efficient probably would have been at this point. You just gotta wonder…what’s left to make more efficient?” Please see important podcast disclosure information at Episode Timeline/Key Highlights: 0:00 Introduction & Important Disclosure 1:13 Guest and Topic Introduction: George Coyle and Private Equity 4:15 Why Private Equity Is Going After the Public Masses 8:02 Should Private Equity Be Included in a Portfolio? 15:13 The Diversification 'Benefits' of Private Equity 25:58 Private Credit and Private Equity 28:49 Public vs. Private Markets 32:09 Fiduciaries Vs. Broker-Dealers 42:58 Alternatives to Private Equity 48:46 Concluding Thoughts About George Coyle: George is the founder of Triangulated Capital Management, an investment advisor that utilizes tactical investment strategies to produce better risk adjusted returns for investors. George is also the founder of Triangulated Research, a publisher that focuses on thematic secular investment trends. Resources Mentioned: Principles of Great Traders: Leveraged Small Value Equities (Study): Connect with George Coyle on LinkedIn: Connect with George Coyle on Twitter/X; Market Meditations on Substack: The Stock Market Strategist on Substack: Learn more about Triangulated Capital Management: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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.
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Does Your Money Have Meaning? How to Understand the “Why” Behind Your Wealth Goals with Marla Sofer
02/12/2025
Does Your Money Have Meaning? How to Understand the “Why” Behind Your Wealth Goals with Marla Sofer
The most common question advisors get is, “What should I do with my money?” The most common answer? “It depends.” Today, we explore the “why” behind that question and dive deeper into how it connects to your evolving life goals. In this episode of Off the Wall, hosts Jessica Gibbs, CFP®, and David B. Armstrong, CFA®, are joined by Marla Sofer, founder of the fintech startup, Knomee. We discuss the journey to self-actualization, how understanding your purpose influences financial decisions, and why clarity on your goals makes money management easier. But how do you define your purpose and communicate it effectively to your advisor? Tune in to find out! “You might be an expert, but it doesn’t mean you’re making the right decisions for yourself.” Please see important podcast disclosure information at Episode Timeline/Key Highlights: 0:00 Introduction & Important Disclosure 1:33 Knomee and Aligning Wealth With Personal Values 12:00 Self-Actualization or Vocational Independence? 16:25 Financial Goals and Retaining an Advisor 24:00 Work as a Purposeful Choice Within Purposeful Wealth 27:40 Should you “DIY” Your Investing and Wealth Planning? 31:43 What to Look For in an Advisor 33:30 Matchmaking, Relationships, and Your Financial Advisor 37:39 The Knomee Journey 43:05 LinkedIn Influencing 46:26 Concluding Thoughts About Marla Sofer: Marla Sofer, Founder and CEO of Knomee, is reshaping the way individuals—and their financial advisors—approach wealth and financial confidence. With leadership experience at BlackRock, Microsoft, and JP Morgan, she saw firsthand how the financial industry prioritizes products over solutions. Frustrated by the lack of meaningful personalization, she built Knomee to change that. Knomee introduces the concept of Financial Identity™, helping individuals uncover their values, clarify their financial priorities, and align their money with what truly matters. It’s a tool for self-discovery, financial empowerment, and stronger connections—whether with existing advisors or finding the right one. For wealth advisors, Knomee serves as a breakthrough discovery platform—helping them engage clients on a deeper level, strengthen relationships, and ensure their advice aligns with evolving life goals. Marla is a recognized thought leader with 13,000+ LinkedIn followers, recently named an executive woman to know by Wednesday Women. Whether you’re an individual seeking clarity or an advisor looking to differentiate, Marla’s insights and Knomee’s approach are transforming the future of financial advice. Connect with Marla on LinkedIn: https://www.linkedin.com/in/marlasofer/ Learn more about Knomee: and Connect with Knomee on YouTube: https://www.youtube.com/@KnomeeApp Connect with Knomee on Instagram: Connect with Knomee Knomee on Facebook: Connect with Monument Wealth Management: Visit our website: https://bit.ly/monumentwealthwebsite Follow us on Instagram: https://bit.ly/MonumentWealthIG Connect on LinkedIn: https://bit.ly/MonumentWealthLI Connect on Facebook: https://bit.ly/MonumentWealthFB Connect on YouTube: https://bit.ly/YouTubeMWMFit Subscribe to Monument #Unfiltered: 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.
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We’re Back: 2024 Market Analysis and 2025 Predictions
01/16/2025
We’re Back: 2024 Market Analysis and 2025 Predictions
Happy 2025! We’re reviewing what happened in the markets and economy in Q4 2024 (and 2024 as a whole), noting what caught our attention and why. In this episode of Off the Wall, hosts Jessica Gibbs, CFP® and David B. Armstrong, CFA® are joined by Monument Wealth Management’s Portfolio Management team, Erin M. Hay, CFA®, CMT® and Nate W. Tonsager, CIPM®. Dave breaks down S&P sector performance, Erin delves into Small Caps, and Nate shares his take on the death of active management. Then tune in to hear how Dave, Erin and Nate fared on their 2024 predictions, and what they predict will happen in 2025, including whether potential tariffs will make any real difference, Cap Weight verses Equal Weight performance of the S&P 500, and if we’ll see a recession. Episode Timeline/Key Highlights: 0:00 Welcome and Podcast Refresh 03:15 Recap of 2024 Market Performance 14:11 Key 2024 Trends including persistent high yields despite rate cuts, record outflows from active investing, and the rise of passive investing 24:37 2024 Predictions Revisited: What we got right and wrong, plus Dave, Erin, & Nate make market predications for 2025 46:10 Our thoughts on investing: What you should know going into 2025 Resources Mentioned: Bloomberg Article: Please see important podcast disclosure information at Follow our Asset Management team on LinkedIn: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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 .
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From DAFs to Charitable Trusts: Choosing the Right Path for Meaningful Philanthropy
12/02/2024
From DAFs to Charitable Trusts: Choosing the Right Path for Meaningful Philanthropy
As the giving season draws near, you may be wondering how to take advantage of charitable giving deductions on your tax return, make a greater impact with your donations, or weave philanthropy into your family’s legacy. In this Off the Wall discussion, Monument’s Emily Harper will be hosting and interviewing our regular host, Jessica Gibbs, about all things charitable giving. Are you wondering how to take advantage of charitable giving deductions on your tax return, make a greater impact with your donations, or weave philanthropy into your family’s legacy? In this Off the Wall discussion, we’re changing things up. Monument’s Emily Harper, CFP® jumps into the hosting seat to interview Jessica L. Gibbs, CFP about all things charitable giving. Jessica is Monument’s go-to thought leader when it comes to learning about philanthropy, both from the donor’s perspective and from the charitable organization’s perspective. In this episode, she shares her wisdom, including ways to strategize and maximize your charitable giving this year and beyond. Jessica breaks down two types of charitable giving vehicles—donor-advised funds and charitable trusts—including when to consider each of them, and the benefits and drawbacks of each strategy. Whether you’re ready to move beyond checkbook giving, hone-in on your philanthropic goals, or figure out a way to keep giving after retirement, this is an interview you don’t want to miss. And if you have a philanthropist in your life, you’d like to share the wealth with, consider sending them this episode. Happy giving! Episode Timeline/Key Highlights: [00:52] Introducing the topic of today’s episode. [02:28] Reasons why you should establish a dedicated vehicle for charitable giving. [05:33] How donor-advised funds work & Benefits of using a DAF. [11:45] Ways to use donor-advised funds in your legacy strategy. [15:06] Downsides of donor-advised funds. [18:35] What is a charitable trust? What is the difference between charitable trust and donor-advised fund? [20:53] Benefits and disadvantages of using a charitable remainder trust (CRT). [25:57] Benefits and disadvantages of using a charitable lead trust (CLT). [28:22] Summary: When to consider a donor-advised fund, charitable remainder trust, and charitable lead trust. [29:38] Major Takeaways: Name a successor, identify your motivation, and consider different ways to support your favorite organization(s). [32:00] Resources + Tips for choosing charities to donate to & making a larger impact. Please see important podcast disclosure information at . Resources Mentioned: Charity Navigator: Listen to Becoming a Philanthropist & Non-Profit Board Member with Meera Pillai: Article- Donor Advised Fund vs. Charitable Trust: Maximizing Your Philanthropic Impact Article – 3 Charitable Giving Strategies That Deserve a Second Look: Connect with Emily on LinkedIn: Connect with Jessica on LinkedIn: Subscribe to our blog: Subscribe to Monument #Unfiltered: Ch Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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, Emily and Jessica, on our website: Emily Harper, CFP: Jessica Gibbs, CFP:
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The Sandwich Generation: Protecting your Parents' Assets and Their Legacy with Catherine F. Schott Murray
11/02/2024
The Sandwich Generation: Protecting your Parents' Assets and Their Legacy with Catherine F. Schott Murray
Aging parents present unique challenges, especially for the sandwich generation, who juggle caring for their parents while raising their own children. In this episode of Off the Wall, Dean Catino, CFP®, CPWA, and Jessica Gibbs, CFP® speak with Catherine F. Schott Murray, a Shareholder and expert in Estate Planning, Tax, Estate and Trust Administration, and Elder Law at . They discuss the critical importance of starting conversations about estate planning, navigating legal considerations for parents with diminished capacity, and the role of trusts in asset protection. The episode also covers healthcare directives and the necessity of a clear plan for end-of-life decisions. Listeners will learn about protecting loved ones from financial exploitation and the legal complexities that effective estate planning can address. Cathleen Phelps, and Cecelia Gilliam from our Client Experience team join the later-half of the conversation to share stories and discuss the need for proactive planning, open communication among family members, and building support systems during this challenging time. Having a team in place to help you navigate the overwhelm of trust and estate planning is more powerful than you think. Listen in to learn the benefits of working with a wealth advisor, attorney, and accountant to reduce anxiety and guide you through the process of caring for aging parents. “Once you begin you are closer to the end than had you not begun at all… There’s a hurdle that people have to overcome to start these conversations, but once you start the conversation, it tends to be amazing how much people will be open about it.” – Catherine F. Schott Murray Episode Timeline/Key Highlights: Part 1: [01:01] Introducing Catherine & the topic of today’s episode. [03:16] How do I start the conversation with my parents about estate planning, assets, end of life wishes, and long-term care? [09:33] Safeguards to put in place before your aging parents’ decision-making ability becomes impaired. [11:19] Are there tax implications for being a co-trustee with my parent(s) on their trust? [12:14] How to protect your parents’ house as an asset. [15:19] Avoiding probate & Reasons not to create a trust for your parents. [19:13] Living Wills & Advanced Medical Directives: What families should know about assigning healthcare proxies or powers of attorney. [25:15] How long does it take to go through the estate planning process? [27:29] How to protect your parents from elder fraud. Part 2: [33:15] Meet our Client Experience Team: Cathleen Phelps & Cecelia Gilliam. [33:39] Estate planning steps you don’t want to miss. [38:01] What to do after your parent passes away. [42:24] Advice for people in the sandwich generation. [45:15] Collaborating with Siblings in Caregiving [35:16] Resources + How to connect with Catherine. Please see important podcast disclosure information at . Resources Mentioned: Listen to our episode about Caring for Aging Parents: Guide to Caring for Aging Parents: Estate Planning | How to Evolve Your Plan When the Rules Keep Changing: National Elder Fraud Hotline: 833-FRAUD-11 (833-372-8311) Catherine’s blog: [NPR] How to prepare for the death of a parent - A checklist: Subscribe to our blog: Subscribe to Monument #Unfiltered: About Catherine F. Schott Murray: Begin the Begin - Once you begin you are closer to the end than had you not begun at all. With that statement, Catherine F. Schott Murray appreciates that every client's situation is unique and requires solutions that are adapted to their particular needs, goals, and objectives once the planning process has begun. She takes the time to carefully listen to her clients and discuss decisions that are not always straightforward, ultimately reaching an appropriate resolution that is pertinent to each client. Catherine is professional, yet compassionate, while carefully explaining complex matters during potentially trying times. Catherine's practice focuses on trust and estate planning as well as business planning. She advises clients with respect to the creation and implementation of simple and complex estate plans, including incapacity planning; elder law; guardianships and conservatorships; special needs trusts; health care decision making; estate and trust administration; probate administration; wealth preservation; asset protection; entity formation and maintenance, gift, estate and generation-skipping transfer tax planning; charitable planning; irrevocable trusts; donor advised funds; private foundations; family limited partnerships; and limited liability companies. Prior to joining the firm, Catherine assisted individuals with estate planning and Medicaid planning as well as represented lenders and closely held companies in commercial and financial transactions, commercial lease negotiations, mergers and acquisitions, bankruptcy, commercial litigation, and collections. Catherine has been an active member of the National Academy of Elder Law Attorneys (NAELA) and served on the Board of Directors of the Virginia Chapter (VAELA) of NAELA for more than a decade, including time spent as the organization's President. Catherine gives back to the community through her involvement with the Community Foundation for Northern Virginia (CFNOVA) in which she has served on the Board of Directors, including as the Board Chair. Outside of the office, Catherine volunteers her time with her children's school and enjoys road trips with her family. Connect with Catherine on LinkedIn: Visit her website: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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, Dean and Jessica, and featured team members on our website at .
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Q3 Market Recap: Fed Rate Cut, Labor Market Dynamics, and Predictions for the Rest of 2024
10/10/2024
Q3 Market Recap: Fed Rate Cut, Labor Market Dynamics, and Predictions for the Rest of 2024
We're reviewing the Q3 2024 market and year-to-date trends, reflecting on our surprises, and highlighting our key insights drawn from the data. In this episode of Off the Wall, host Jessica Gibbs, CFP® is joined by Monument Wealth Management’s Portfolio Management team, Erin Hay, CFA, CMT and Nate Tonsager, CIPM. Tune in to hear our discussion on the strong yet volatile performance of global equities, the impact of the Fed's 0.50% rate cut, and observations of China’s capital markets. The team also explores market participation, seasonality, and labor market dynamics. “A lot of what we can do is be a more efficient economy through the benefits of AI, through technology. And really, AI isn't going to replace, I think, a significant amount of jobs. It's just going to make those jobs more productive.” - Nate Tonsager Episode Timeline/Key Highlights: [01:27] Q3 Market Recap and YTD [07:29] Market Participation and Seasonality Insights [13:19] Takeaways and possible impacts of Fed Rate Cuts [30:43] China’s capital markets [37:59] Find out what Erin is most pessimistic and optimistic about [42:36] Find out what Nate is most pessimistic and optimistic about Please see important podcast disclosure information at . Resources Mentioned: Nate on the Fed Rate Cuts: Erin’s LinkedIn post before the Fed Meeting: Erin’s LinkedIn post on the ILA Strike: Excerpt from John Konrad: Listen to recent episodes of Off the Wall: Subscribe to Monument #Unfiltered: Follow our Asset Management team on LinkedIn: Erin Hay Nate Tonsager Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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 .
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Economist Bob Stein’s Take on the 2024 Presidential Race and Future of our Economy
09/03/2024
Economist Bob Stein’s Take on the 2024 Presidential Race and Future of our Economy
How will the 2024 election affect the economy, the markets, the deficits, and your wallet? Our favorite economist is back on the podcast for a third time with his straightforward opinions! Bob Stein is the Deputy Chief Economist at First Trust Advisors, where he’s responsible for commenting on and forecasting the U.S. economy. In this Off the Wall discussion, Bob shares his thoughts and predictions for the 2024 electoral races for the House, Senate and White House, and their impacts on the American people. Bob breaks down the scenarios and possible outcomes for the election, including what would happen in a parallel universe (thanks for the fun prompt, Dave). So, buckle up and get ready for some ponder-worthy possibilities! “As of today, the one thing I can tell you for sure is that my odds will change between now and Election Day, maybe multiple times, maybe by dinner tonight. But as of right now, I think Donald Trump has about a 60% chance of winning. Harris only 40.” – Bob Stein Episode Timeline/Key Highlights: [00:00] Introducing Bob Stein & the topic of today’s episode. [02:28] What is the likely outcome of the House election and how will it impact the US economy? [04:06] Will Hakeem Jeffries become speaker of the House and a presidential candidate for 2028? [06:48] What is the likely outcome of the Senate election? What are the odds the Democrats take the Senate? [10:25] If Republicans take the Senate, what impact will it have on the economy, markets, deficit, and people’s wallets? [11:31] Bob’s predictions on the 2024 Presidential Election results. [15:06] If Trump or Harris won, how would it affect the economy, markets, deficits, and people’s wallets? [18:33] If Harris won the election, would tax cuts get extended? [20:48] Potential outcomes of a red sweep, blue sweep, or divided government. [23:48] What are the realistic policies being supported by Trump and Harris? [29:06] Are there any policy ideas that the presidential candidates are putting forward that you think, if it's enacted, would be potentially harmful to the economy or the average American? [30:07] Potential changes to the Supreme Court after the election. [33:46] Low probability surprises we could see happen in the 2024 Presidential Election. Please see important podcast disclosure information at . Resources Mentioned: First Trust: Listen to our first episode with Bob (Predictions for the Economic & Political Landscape 2022): Listen to our last episode with Bob (2024 Presidential Election Predictions): Subscribe to our blog: Subscribe to Monument #Unfiltered: About Bob Stein: Bob is Deputy Chief Economist at First Trust Advisors, L.P., where he is responsible for forecasting the U.S. economy and writing economic commentaries. With Bob’s projections, First Trust has won numerous awards for its economic forecasts, including being ranked #1 in the world by Consensus Economics for accurately predicting GDP growth and Consumer Price Inflation in the United States in 2022. In addition, First Trust is consistently ranked in the top five by Bloomberg for forecasting economic indicators. Bob has also won several Crystal Ball Awards from Zillow for forecasting home prices. Prior to joining First Trust in 2006, Bob was Assistant Secretary for Economic Policy at the U.S. Treasury Department. While there, Bob was responsible for briefing the Secretary of the Treasury on U.S. macroeconomic developments, formulating policy proposals, and helping generate the official economic forecast used by the President for budget proposals. Day to day, he led a team of twenty economists conducting in-depth economic analysis and research. Between 1996 and 2002, Bob was an economist on Capitol Hill, including the last two years (2001-02) as chief economist for the Senate Budget Committee. While on Capitol Hill, Bob also worked for the Senate Banking Committee and Joint Economic Committee. Prior to his tenure on Capitol Hill, Bob was an economic journalist for Investor’s Business Daily. Bob received a BA in both Economics and Government from Georgetown University. He has been a CFA charter holder since 2003. Connect with Bob Stein on LinkedIn: Follow him on X: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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 .
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Burnout-Proof Leadership: 3 Ways to Prevent and Overcome Burnout
08/12/2024
Burnout-Proof Leadership: 3 Ways to Prevent and Overcome Burnout
Did you know that nearly half of employees and managers report experiencing burnout in 2023? As our lives get busier and competition in the workplace grows, it’s an unfortunate reality… So, how can high achievers prevent burnout while still working towards their goals? Here to talk about it is Rachel Boehm, a Behavior Change and Performance Coach and Psychologist who’s transforming the way we work. In this Off the Wall discussion, you’ll learn science-based ways to sustain peak performance and be a burnout-proof leader. Rachel shares the sneaky early symptoms of burnout to be aware of and steps you can take to prevent burnout when you’re feeling overwhelmed. She also highlights the organization’s role in employee burnout and offers ideas for how companies prevent burnout in their staff. “Burnout is a shared responsibility between the organization and the individual.” – Rachel Boehm Even just by reframing your perspective of productivity and self-care, you can prevent burnout and still achieve your biggest goals! As Rachel explains using an analogy to working out: there’s no such thing as over-training, there’s only under-recovery. Episode Timeline/Key Highlights: [00:00] Introducing Rachel Boehm & the topic of today’s episode. [01:17] Early signs of burnout you should be aware of. [04:26] External signs of burnout to look for in your team. [06:55] Steps you can take to prevent burnout & The role organizations play in employee burnout. [12:46] Tips for avoiding distractions while you work. [17:50] How to stop feeling guilty for spending time on yourself. [24:05] How self-care and self-compassion help to fight burnout. [30:07] What does a burnout coach do? What are the benefits of having a burnout coach? [35:16] Resources + How to connect with Rachel. Please see important podcast disclosure information at . Resources Mentioned: Rachel’s blog - Tips to Thrive: How Noise is Hurting Your Health: Subscribe to our Private Wealth Newsletter, Monument #Unfiltered: National Association of Women Business Owners (NAWBO): About Rachel Boehm: Rachel Boehm is a behavior change and performance coach and psychologist transforming the way we work. Her coaching and consulting programs, and keynotes are building burnout-proof leaders, burnout-free organizations, and sustainable peak performers by creating conditions to thrive℠. Visit Rachel’s website: Connect with Rachel Boehm on LinkedIn: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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 .
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Mid-Year Market Recap, S&P Insights, & Tips for Investing During an Election Year
07/12/2024
Mid-Year Market Recap, S&P Insights, & Tips for Investing During an Election Year
It’s time for another quarterly market update from the Monument Wealth Management team! In this episode of Off the Wall, our lovely co-host Jessica Gibbs has returned from maternity leave. Please help us give her a warm welcome back! For this mid-year review, Jessica and co-host David B. Armstrong are joined by Erin Hay and Nate Tonsager from Monument’s Portfolio Management team. You’ll hear what sectors are performing well in 2024, which stocks are driving the market (and how that compares to previous years), and why you should be checking company earnings and share prices when buying and selling stocks. Plus… Will the 2024 presidential election increase volatility in the stock market? Should you change your investment strategy around the election? Tune in to find out! “Just remember that earnings drive share prices and when prices get ahead of earnings, the probability of disappointment increases with each new earnings report.” – David Armstrong Episode Timeline/Key Highlights: [00:00] Welcome back Jessica! & The topic of today’s episode. [00:54] Market recap of Q2 and 2024 overall. [10:40] An important note about large cap and mega cap stocks in the S&P 500. [17:45] Notable market stats and insights from Q1 and Q2. [22:51] Stock Market Volatility: It’s role in investing & how to navigate it in 2024. [24:32] 2024 Market Breadth: Our breakdown and bottom line. [31:05] The impact of presidential elections on the stock market & Tips for investing during an election year. [38:08] What are we most optimistic and pessimistic about? Please see important podcast disclosure information at . Resources Mentioned: Listen to recent episodes of Off the Wall: J.P. Morgan’s Guide to the Markets: July 2024 BLS Employment Report: Subscribe to Monument #Unfiltered: Follow our Asset Management team on LinkedIn: Erin Hay Nate Tonsager Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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 .
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Top 3 Challenges High Net Worth Individuals Face in Planning for Retirement with Michael Conrath
06/10/2024
Top 3 Challenges High Net Worth Individuals Face in Planning for Retirement with Michael Conrath
Planning for retirement comes with many considerations and challenges, especially for those with a high net worth. In this episode of Off the Wall, Monument Private Wealth Advisors, Emily Harper, CFP® and Heaven Goodwin, CFP® chat with Michael Conrath, the Chief Retirement Strategist and Head of the Retirement Insights Strategy Team for J.P. Morgan Asset Management. The trio shares the most common challenges high-net-worth individuals face as they plan for retirement, how to plan for them, and what to consider throughout the retirement planning process. They discuss the emotional aspects of retirement and how to plan to ensure well-being, the challenges that longevity brings to the equation, and the varied ways taxes may affect your desired retirement. They also dive into the key considerations around Roth conversions, social security, Medicare, long-term care, and more. Retirement planning is often a detailed and complex process for high-net-worth individuals, but with the insights from these three experts, you’ll be better equipped to plan the retirement of your dreams! “There’s this big disconnect because we spend decades planning and working to reach that retirement point, but we sometimes spend very little time planning for how we’re actually going to spend the rest of our time, the next chapter, which could be easily 35+ years in retirement… It’s important to know what you’re retiring to rather than just what you’re retiring from.” – Michael Conrath Episode Timeline/Key Highlights: [00:23] Introducing Michael Conrath & the topic of today’s episode. [01:45] What is The Retirement Equation? [05:17] 1st retirement challenge for high earners: Not preparing emotionally for the reality of retirement. [09:55] The Retirement PUSH: Purpose, Use, Socialization, Health [14:20] 2nd retirement challenge for high earners: The ever-changing tax landscape. [18:11] Roth Conversions: Is there a sweet spot between current marginal rates and post-2025 marginal rates? [20:22] How taxable income amounts impact aspects of retirement, like social security benefits and cost of Medicare. [24:44] What is a “backdoor Roth”, and should I make one? [29:45] 3rd retirement challenge: With longevity, comes the need for assistance. [35:44] What to consider when self-insuring/self-funding long-term care in retirement. [41:31] What Mike is optimistic and excited about in planning for retirement. [43:15] Mike’s #1 recommended resource for gaining inspiration for your retirement. Please see important podcast disclosure information at . Resources Mentioned: Subscribe to our Private Wealth Newsletter, Monument #Unfiltered: Check out J.P. Morgan’s 2024 Guide to Retirement: Visit for more information on the Retirement Insights program. Watch “Live to 100: Secrets of the Blue Zones”: About Michael Conrath: Michael Conrath, CFP, CPRC, is the Chief Retirement Strategist and Head of the Retirement Insights Strategy Team for J.P. Morgan Asset Management. In this role, Michael is responsible for researching and delivering timely retirement-related insights to clients and financial professionals. Michael has over 25 years of investment and wealth management experience and focuses on identifying themes to improve retirement savings and deliver better retirement income outcomes for individuals across the wealth spectrum. Connect with Michael Conrath on LinkedIn: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Connect on LinkedIn: Connect on Facebook: Connect on YouTube: Subscribe to Monument #Unfiltered: 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 guest co-hosts, Emily and Heaven, on our website at .
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How Your Instincts Are Actually Hurting You, Your Team, and Your Wealth
05/10/2024
How Your Instincts Are Actually Hurting You, Your Team, and Your Wealth
Think you have great instincts? Think again. Judgments and decision-making are common threads that run through not only your investing, wealth management, and business decisions, but also your quality of life. What impacts these decisions and judgments? Your instincts… (and your counter instincts). Today’s episode is all about how your instincts might be hurting your real-time decisions, your team, your wealth, and even your quality of life—and what you can do about it. In this Off the Wall chat, host David Armstrong and guest co-host Dean Catino speak with Krishna Pendyala, Founder & Chief Empowerment Officer at , as well as Co-Founder and President of . Krishna is an award-winning speaker, author, entrepreneur, and advisor who helps executives and entrepreneurs exercise better judgment and make wiser choices in business and leadership. Listen in as Krishna breaks down examples of how our instincts and counter-instincts affect our decisions. He also highlights the easiest way to pause before making decisions and why it’s so critical for executives, leaders, and business owners to pause before every decision. He also shares some great tips for managing impulsive decisions and reactions to fear-based narratives around wealth and finance. “If you do want to behave differently and not be impulsive, not make hasty decisions, which really end up creating new problems that you end up cleaning up, or in your industry, losing money… that’s where I think counter instincts come in.” – Krishna Pendyala Tune in to find out how your instincts are impacting your judgment and financial decisions. Episode Timeline/Key Highlights: [00:00] Intro [00:27] Learn about Krishna Pendyala & the topic of today’s episode. [03:23] How our instincts work and how they impact our decisions. [06:48] Examples of instincts and counter instincts. [12:22] Fear and greed are driving the markets. [16:32] The Power of Pause & The meaning of “Beyond the PIG and the APE”. [20:35] How do we help clients see how their finances are impacted by their instincts? [27:10] How to manage impulsive financial decisions. [36:02] The Power of Loss Aversion: Navigating the emotional impact of loss. [40:28] The 1 in 60 Rule. [41:39] Judgment: A common thread in your investing, wealth management, and quality of life. Please see important podcast disclosure information at . Resources Mentioned: Man’s Search for Meaning by Viktor Frankl: Give us your feedback! Take our survey: Subscribe to our newsletter: About Krishna Pendyala: Krishna Pendyala is the Founder & Chief Empowerment Officer at The Choice Ladder Institute. The Choice Ladder Institute helps entrepreneurs, executives, and financial advisors exercise better judgment and make wise choices to achieve a higher quality of life and not just a better standard of living. Good goal setting and leadership skills enable driven individuals to accomplish their goals. However, we often notice that these same people aren't as fulfilled as one would think. Too much emphasis seems to be placed on success and leadership development and too little if any on developing basic choice-making or judgment skills. Leadership skills alone aren’t enough to move the needle. It takes both raising judgment and leadership skills to improve the quality of our life and of those around us. Krishna is an award-winning speaker, Instinctive Behavior Evangelist, and the author of “Beyond the PIG and the APE”. He has also been featured in the Wall Street Journal, Barron's, The New York Times, TEDx, Vistage, Inc. & Thrive Global. Connect with Krishna Pendyala on LinkedIn: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 Dean on our website at .
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Q1 Market Recap | Featuring J.P. Morgan Global Market Strategist, Jordan Jackson
04/16/2024
Q1 Market Recap | Featuring J.P. Morgan Global Market Strategist, Jordan Jackson
How is it that we are already heading into Q2 of 2024? In this episode, we deep dive into the first quarter of 2024 with special guest , Executive Director and Global Market Strategist with JP Morgan Asset Management's Global Market Insight Strategy team. Tune in for our breakdown of the Q1 2024 market and our optimistic (and pessimistic) views as we head into Q2. We explore the best and worst performing sectors, unpack the Federal Reserve's recent actions and their impact on interest rates, and delve into the ongoing S&P 500 bull market with a focus on future growth potential. Additionally, the episode tackles the record concentration within the top holdings of the S&P 500, analysing potential future trends as well as considerations for investing in small cap stocks, particularly in a rising interest rate environment. Finally, the team goes round-robin to share their optimistic and pessimistic views on the markets going forward. “75% of the time, going back to 1980, the equity market has been positive by calendar year. I think that's really important. Yes, volatility is a price we pay as investors, but as long-term investors investing in equities...that [staying invested] is how you grow your wealth.” Jordan Jackson Episode Timeline [00:00] Intro [02:00] A Historical Look at The Fed’s Interest Rate Moves During Election Years [03:50] Erin’s Take on Where we Are with the Current Bull Market and How long it Might Last [05:26] Nate Talks about the Spike in Commodity Prices and its Impact on Volatility and Inflation [06:50] Jordan Jackson’s Bullish Take on the Equity Markets and Fed’s Monetary Policy [9:10] Do We Need Interest Rate Cuts to See Successful Equity Markets and Economic Growth? [14:00] S&P 500 Market Concentration – How Durable is the Equity Market Considering the Top 10 Names Hold over 34% of the Value? [20:00] Stats and Advice for People Investing in Small Cap Stocks [25:00] Why Should Investors be Optimistic About Investing Now? [30:00] Momentum Investing and Long-Term Gains [32:00] Speed Round: A Round-Robin Take on the Markets – Both Optimistic and Pessimistic Views [44:00] Jordan Jackson’s Optimistic Wrap-Up and Kind Words About Monument 😊 [47:00] Outro. About Jordan Jackson , Executive Director is a Global Market Strategist on the J.P. Morgan Asset Management Global Market Insights Strategy Team. Jordan is responsible for delivering timely market and economic commentary to clients across the country and is a frequent guest on Bloomberg, CNBC, and other financial news outlets. He has authored several papers on the economy and markets, with a focus on public fixed income and monetary policy and is often quoted in the financial press. In addition, Jordan is responsible for conducting research on the global economy and capital markets as well as publications such as the Guide to the Markets and weekly blog posts. An employee since 2015, prior to his role on Global Market Insights, he worked on the Global Consultant Strategy Group based in New York where he was responsible for serving the investment needs of institutional asset management consultants in North America and Canada. He earned a B.A. in African-American Studies from the University of Virginia and holds Series 7 and 63 licenses. Follow Jordan Jackson on LinkedIn: Resources Mentioned: J.P. Morgan Guide to the Markets: Jordan Jackson's writings and blog posts: Follow Jordan Jackson on LinkedIn: Follow our Portfolio Management team on LinkedIn: Erin Hay, CFA Nate Tonsager, CIPM David B. Armstrong, CFA Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube:
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Becoming a Philanthropist & Non-Profit Board Member with Meera Pillai
03/11/2024
Becoming a Philanthropist & Non-Profit Board Member with Meera Pillai
As a philanthropist, how can you do more than just “give back” to a charitable cause? How do you make a real impact with your time, skills, passion, and money? Should you become a board member for a non-profit? Let’s dive into it. In this Off the Wall chat, hosts David B. Armstrong and Jessica Gibbs welcome Meera Pillai, a retired IT professional turned philanthropist, to talk about the ways you can make an impact through philanthropy and board membership. Jessica also picks Dave’s brain about his own philanthropic endeavors, as he has many of them! Meera shares her thoughts on what it takes to serve as a member on a non-profit board, the benefits and challenges of board membership, and how to make the most of your philanthropic efforts. Plus, they discuss other (lower commitment) ways to volunteer your time, skills, and money to make an impact in local non-profits and community foundations. “All you need is passion. If you have passion and you have an interest in a mission area, that’s all you need to serve on a non-profit board, in my opinion.” – Meera Pillai So, which type of philanthropy is right for you? Tune in for ideas from an experienced philanthropist. Episode Timeline/Key Highlights: [00:53] Introducing Meera Pillai & the topic of today’s episode. [02:37] Dave’s philanthropic background. [03:11] Meera’s & Dave’s transitions from philanthropist to board member: Why, when, and how they made the leap. [08:34] How to choose which charity to support. [09:41] What are the expectations/roles of a non-profit board member? [14:08] Signs you should not be a non-profit board member. [16:58] Surprising benefits and challenges of serving on a board. [22:01] Important things to understand about your non-profit’s culture. [28:22] Other ways to work with non-profits and get involved in local philanthropy. [31:35] The key difference between restricted giving and unrestricted giving. [38:53] What is a community foundation? + Why you should consider supporting one. Please see important podcast disclosure information at . Resources Mentioned: Giving USA 2023: The Annual Report on Philanthropy for the year 2022: Give us your feedback! Take our survey: Subscribe to our blog: About Meera Pillai: Meera is a retired IT professional turned philanthropist. After an 11-year career at Booz Allen Hamilton, she left industry to focus on raising her children and shift her life purpose towards philanthropy and impact. Now with grown children, she is fully focused on local philanthropy supporting the Northern Virginia area through Board membership and outreach. She currently serves as Board Chair of the whose mission is to ease the hardship of childhood illness on families. She has also served as Chair of their annual fundraising 5K event. During her tenure, she has raised on average $15k annually for the organization. Meera also serves on the Board of the whose mission is to advance equity through support of local philanthropy and community leadership and outreach. She currently serves on the Nominating Committee and Gala Committee. Meera served as Emcee of the 2022 “Raise the Region” Gala, which raised nearly $650,000 for the organization. She recently helped launch the Scholarship Fund for Northern Virginia, dedicated to supporting local students pursue higher education at a Virginia public college. Most recently, Meera joined the Board of , the charitable foundation supporting Fairfax County Public Schools (FCPS), whose mission is to engage the community to invest in educational excellence and prepare FCPS students for the future. Meera currently serves as the Lead of the Community Engagement Committee. Meera was with Booz Allen Hamilton in Mclean, VA for 11 years, serving in roles of IT Project Manager and Business Analyst to develop web-based applications for internal company operations. For 2 years prior to that she worked at OneSoft Corporation in Mclean in the roles of IT Project Manager and Business Analyst to develop e-commerce websites for clients such as WeightWatchers.com. Meera earned her undergraduate degree at the University of Virginia and her MBA at George Mason University. She lives in Fairfax, VA with her husband, two sons, and one dog. Connect with Meera Pillai on LinkedIn: Contact directly: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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How to Protect Your Personal & Business Assets from Cyber Attacks with Cathleen and Bill Phelps
02/16/2024
How to Protect Your Personal & Business Assets from Cyber Attacks with Cathleen and Bill Phelps
With the rising prevalence of cyber-attacks on both individuals and small businesses, it’s more important than ever to learn how to boost your cybersecurity and protect the wealth you’ve worked so hard to grow. In this episode of Off the Wall, you’ll meet Cathleen Phelps, a Client Experience Manager at Monument, and Bill Phelps, a Cybersecurity Expert and Strategist with over 26 years of experience. Tune in to learn easy ways to identify and prevent fraud, phishing, and identity theft, including AI-generated fraud, so you can protect your personal and business assets from cyber-attacks. Over the years, Cathleen has successfully coached clients on how to protect themselves online as well as what to do if their personal information has been compromised. As an expert in the field, Bill has delivered cybersecurity consulting and incident response services to some of the most sophisticated clients in the world. Together, Bill and Cat offer a treasure trove of knowledge about protecting yourself and your wealth against bad actors. “The amount of money paid to cyber criminals and ransomware in 2023 passed a billion dollars for the first time… and that is disproportionately hitting small businesses, and for that matter, schools, hospitals, other organizations that have only more recently started to invest in appropriate cyber defense measures.” – Bill Phelps Episode Timeline/Key Highlights: [00:51] Introducing today’s topic & guests. [02:40] Are hackers/scammers getting more intelligent with their tactics? + The most prevalent and emerging cyber threats people should look out for. [05:54] Anyone is Vulnerable: How cyber scams and phishing emails are affecting teens, adults, and the elderly. [09:00] AI and Identity Theft: How to protect yourself from AI fraud. [12:26] How people’s personal information gets compromised. [13:54] Phishing red flags to look for in your emails. [16:20] What to do if your personal information has been compromised or if your identity was stolen. [19:17] How secure are online password managers? Should I be using one? [22:32] Cybersecurity for small businesses. [25:30] Easy ways to protect yourself and your business from cyber-attacks. [32:46] When should I be using a VPN (Virtual Private Network)? Please see important podcast disclosure information at . Resources Mentioned: Report Identity Theft: Article: 9 Steps You Can Take to Protect Yourself from Identity Theft Fraud: Have feedback on our podcast? Take our survey: Subscribe to our blog: About Cathleen Phelps: Cathleen has two big drivers – a challenge and a love of learning. Cathleen has a degree in Commerce from the University of Virginia with concentrations in MIS and Marketing. She started her career as a process and change management consultant at Accenture. Now, she loves working at Monument because it’s a small and smart group where she is still using technology to help a business run better. And as before, she feels the best part is working with clients to help them achieve the life they want and ensuring their Monument Client Experience is something they enjoy and want to share with others. Connect with Cathleen: About Bill Phelps: Bill Phelps currently serves on the Board at two cyber security companies, Deepwatch and Nisos. He is an Operating Partner and active investor with Blu Venture Investors and is a frequent advisor and mentor to other cyber and technology companies, their founders and investors. Bill retired in 2023 from Booz Allen Hamilton where he was Executive Vice President and Senior Partner. Under his leadership, Booz Allen’s Global Commercial business, became a recognized market leader, delivering cyber security consulting and incident response services to some of the most sophisticated clients in the world. Prior to joining Booz Allen, Bill spent 26 years at Accenture, finishing his Accenture career as the Global Managing Director of Accenture Security. Bill also co-founded Virginia-based startup, SevenSpace, a pioneer in the nascent market for remotely delivered IT managed services. SevenSpace was acquired by Sun Microsystems in 2005. Connect with Bill: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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2023 Market Recap + 2024 Outlook: Our Thoughts on The Election, Crypto, Inflation, Interest Rates & More
01/16/2024
2023 Market Recap + 2024 Outlook: Our Thoughts on The Election, Crypto, Inflation, Interest Rates & More
The annual episode we’ve all been waiting for… What happened in the US market in 2023? How can we expect the market to perform in 2024? Tune in to find out! In this Off the Wall Market Update, hosts David Armstrong, CFA and Jessica Gibbs, CFP® are joined by Monument’s portfolio management team Erin Hay, CFA and Nate Tonsager, CIPM®. Listen in to hear their market recap for 2023 and outlook for 2024 – reviewing the US market’s best and worst performing sectors of last year, the stock rally of Q4 2023, and how experts’ 2023 market outlooks compared to actual market performance. Then, the team shares their thoughts on what might be ahead for the markets and the economy in 2024, including inflation, Fed rate cuts, affordability of housing, equity markets, the presidential election, and more. Plus, the essential things you need to be a great investor in 2024 and beyond. Finally, you’ll get to hear who won the great Jimmy John’s sandwich bet of 2023. “Investors shouldn’t be adjusting their portfolios based on what the market outlook says. You should only focus on your needs for long-term growth and short-term liquidity.” – David B. Armstrong, CFA® Stay tuned for more amazing content coming your way in 2024! Episode Timeline/Key Highlights: [01:42] 2023 Market Summary – What happened in 2023? [12:16] What experts’ 2023 market outlooks said vs. how the market actually performed in 2023. [21:46] Is the economy out of the woods? [23:32] What we’re most pessimistic about for the 2024 market and economy. [29:26] What we’re most optimistic about for the 2024 market and economy. [36:50] Predictions on inflation in 2024: Will inflation go up or down or stay the same this year? [40:08] Predictions on Interest rates in 2024: Will interest rates go up or down this year? [42:05] Our most important advice to investors as we enter 2024. [48:32] Were our 2023 predictions correct? + Our predictions for 2024. Please see important podcast disclosure information at . Resources Mentioned: Give us your feedback! Take our survey: Subscribe to our blog: Matt Levine on Bloomberg: Reminiscences of a Stock Operator by Edwin Lefèvre: Follow our Asset Management team on LinkedIn: Erin Hay Nate Tonsager Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on X: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Peak Performance for Executives & Finding Purpose in Your Wealth with Dr. Julie Gurner
12/05/2023
Peak Performance for Executives & Finding Purpose in Your Wealth with Dr. Julie Gurner
Adding onto our last episode for executives on , 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 . 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: Follow her on Twitter (X): Subscribe to Dr. Gurner's newsletter on Substack: Contact directly: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on X: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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3 Executive Career Transitions: How to Level Up, Make a Change, or Step Away
11/06/2023
3 Executive Career Transitions: How to Level Up, Make a Change, or Step Away
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 . 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: Tandem Group’s website: Tandem Group’s blog “To The Point”: Center for Creative Leadership: Spencer Stuart: Russell Reynolds: Heidrick & Struggles: Man’s Search for Meaning by Viktor Frankl: 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: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Q3 Market Recap | Surprises with Interest Rates, Stocks, and Inflation, Plus Our Cash Flow Strategies & Predictions for the Rest of 2023
10/05/2023
Q3 Market Recap | Surprises with Interest Rates, Stocks, and Inflation, Plus Our Cash Flow Strategies & Predictions for the Rest of 2023
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 . Resources Mentioned: J.P. Morgan Guide to the Markets: Follow our Portfolio Management team on LinkedIn: Erin Hay Nate Tonsager David B. Armstrong Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Top Executive Compensation Strategies You Should Know with Laura Balser, CECP
09/21/2023
Top Executive Compensation Strategies You Should Know with Laura Balser, CECP
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 . Resources Mentioned: Stock Option Compensation Cheat Sheet: Connect with Laura Balser on LinkedIn: Learn about Korn Ferry: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Caring for Aging Parents: Financial Advice, Resources, Checklists, & More
08/14/2023
Caring for Aging Parents: Financial Advice, Resources, Checklists, & More
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 . 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: 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: Protecting Against Scams: EverSafe – Scans accounts for unusual spending, POA can be notified: Carefull – Online company that monitors for fraud and financial errors & provides identify theft insurance: 2022 FBI Elder Fraud Report: Financial Help: SilverBills – Concierge service that makes sure bills are paid on time and inspects invoices for fraud and error: Find a Financial Therapist: Legal/Estate Planning: Off the Wall Podcast – Estate Planning: Aging Care, Retirement Communities, Downsizing: Monument Wealth Management Article – LTC Insurance: National Association of Senior and Specialty Move Managers: Senior Move Management Service: Great Falls Organizers | Professional & Estate Cleanout Northern Virginia: Genworth Long Term Care Costs by State: Unmet Healthcare Needs and Healthcare Access Gaps Among Uninsured U.S. Adults Aged 50–64: Caregiver Resources: Geriatric Care Managers: Lighthouse Senior Care: Caring Considerations: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Q2 Market Recap: Inflation, Jobs, Tech Stocks, & Investing Advice for the Second Half of the Year
07/17/2023
Q2 Market Recap: Inflation, Jobs, Tech Stocks, & Investing Advice for the Second Half of the Year
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 . Please see important podcast disclosure information at . 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: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: 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 .
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Exit Planning is a Team Sport, Part 3 | Grow Your Business Value for a Profitable Exit
06/28/2023
Exit Planning is a Team Sport, Part 3 | Grow Your Business Value for a Profitable Exit
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: “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 . Resources Mentioned: Listen to Part 1: Listen to Part 2: Learn more about Cultivate Advisors: Business Health and Value Assessment (Free): Listen to Best Practices for a Successful Business Exit with Kevin DeSanto: 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: Visit his website: Email Greg: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Exit Planning is a Team Sport, Part 2 | Prioritizing Your Personal Wealth in Preparation for a Business Exit
06/21/2023
Exit Planning is a Team Sport, Part 2 | Prioritizing Your Personal Wealth in Preparation for a Business Exit
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 . Resources Mentioned: Listen to Part 1: Learn more about Cultivate Advisors: 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: Visit his website: Email Greg: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Exit Planning is a Team Sport, Part 1 | Why You Need to Run Your Business with an Exit in Mind
06/12/2023
Exit Planning is a Team Sport, Part 1 | Why You Need to Run Your Business with an Exit in Mind
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 . 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: 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: Visit his website: Email Greg: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: Connect with us on YouTube: 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 .
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Q1 Market Recap: SVB Collapse, Tech Layoffs, & Investing Advice for Q2
04/12/2023
Q1 Market Recap: SVB Collapse, Tech Layoffs, & Investing Advice for Q2
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 to break down what happened in the markets in Q1 2023, along with some takeaways and advice as we head into Q2. Tune in to hear the team reflect on the US large cap tech dominance, the importance of having a cash strategy, the difference between risk and volatility, and the biggest surprises of the first quarter. They address the significance of the great bank "crisis” of 2023 and share their top advice for investing, saving, and selling your assets in Q2. Plus, Erin and Nate share their opposing predictions (and bet a Jimmy John’s sandwich!) on whether the Fed will increase interest rates in 2023. “My surprise of Q1 2023 is this: If you would have told me that we would in 2023 have experienced the second and third largest bank failures in U.S. history and then told me that we would end the quarter positive with only a 7% drawdown in between, I would have said, you're crazy.” - Erin Hay, CFA Please see important podcast disclosure information at . Episode Timeline/Key Highlights: [00:33] Introducing the topic of today’s episode [01:29] Q1 Market Summary – What happened in Q1? [04:10] Highest and lowest performing market sectors of Q1 of 2023 [06:40] What equity markets performed well in Q1? & How tech layoffs impact the tech sector [09:39] There’s an issue with leadership and breadth in the market… [11:56] What surprised us about international (non-US) stocks [13:57] Don’t make these assumptions when investing in Q2 [14:54] Let’s talk about investing & saving your cash in Q2 [16:04] Other market surprises from Q1 (hint: we’re talking about banks!) [23:56] Major takeaways from Q1 of 2023 [28:17] Market predictions for Q2 and the rest of 2023 Resources Mentioned: Blog - Investing Risk and Volatility Aren't the Same: Blog – Why Risk Makes You Wealthy: Susquehanna research about US large-cap tech leadership: Blog – What Happened to Silicon Valley Bank (In Plain English): JP Morgan’s Guide to the Markets: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: 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 .
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SECURE Act 2.0 for Business Owners and Why Employee Well-Being Matters
03/27/2023
SECURE Act 2.0 for Business Owners and Why Employee Well-Being Matters
SECURE Act 2.0 created new retirement and savings opportunities that were not part of the original SECURE Act. Notably, it gives business owners the ability to be more strategic when choosing what kind of tax-deferred plan is best for them based on their personal and business circumstances. And it also gave them more options for employees. So why should business owners be thinking about meaningful and inspired ways to retain employees and focus on overall employee well-being? In this episode of Off the Wall, host Jessica Gibbs, CFP® speaks with Emily Harper, CFP®, Vice President and Partner at Monument Wealth Management. Emily breaks down what business owners need to know about the , the types of retirement plans that are not available, and the deadlines that have changed. She also explains the factors to consider when choosing between a Solo 401K and a SEP IRA, and highlights opportunities employers now have to support employees, including through matching contributions to Roth retirement plans and matching amounts an employee paid toward student loan debt. Then Caroline Clark, a Human Resources Business Partner at Capital One, joins the episode to discuss the significance of creating a meaningful benefits package that meets employees' needs and is easy to access and use. Caroline shares trends in company benefits, and tips for business owners who want to create a benefits package but aren’t sure where to start. Caroline and Emily also delve into the philosophy of “Stakeholder Theory”—which stresses the interconnected relationships between a business and its customers, employees, communities, and others who have a stake in an organization, including the business owner—and its value in creating positive, far-reaching effects. “If you take care of the associate, the associate will take care of the customer, and the customer will keep coming back.” – Caroline Clark Please see important podcast disclosure information at . Episode Timeline/Key Highlights: [02:08] Retirement savings enhancements for business owners under SECURE Act 2.0 [04:34] Factors to consider when choosing between a Solo 401K and a SEP IRA[08:45] Expanded Roth savings opportunities [12:39] The importance of considering employee well-being and how SECURE Act 2.0 can help [15:55] Current trends in employee benefit offerings [20:32] The importance of collecting feedback from employees to create successful benefits packages [22:30] How to create meaningful benefits packages [23:29] Ensuring ease of access to benefits for maximum employee value [26:50] How employers can reconcile which benefits they can realistically provide with their desired offerings [28:25] An explanation of Stakeholder Theory and how it generates values for the business, the employee and the customer [32:26] Final advice for business owners on balancing personal priorities with business needs About Caroline Clark: Caroline Clark is a Senior Manager, Human Resources Business Partner at Capital One where she works with leaders in US Card. Caroline has spent her career working across a variety of industries solving business problems through human solutions. Previously, Caroline led talent strategy and acquisition at the American Bankers Association and Marriott International. Caroline received her MBA from The University of Virginia, Darden School of Business where she served as the President of the Network of Executive Women and was recognized with the C. Stewart Sheppard Distinguished Service award. You can find her taking walks or catching the latest Formula 1 race on the weekends with her husband, Matt, son, Luke, and Spanish Water Dog, Cooper. Connect with Caroline on LinkedIn : Resources Mentioned: Gallup Employee Wellbeing: Education Data Initiative: Stakeholder Theory & R. Edward Freeman: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: 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 . Please see important podcast disclosure information at .
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The MWM Flexible Asset Allocation Portfolio Strategy – How It Works
03/13/2023
The MWM Flexible Asset Allocation Portfolio Strategy – How It Works
What is the Flexible Asset Allocation strategy and how do we use it to manage your wealth? Great question! Tune in to this episode to learn everything you need to know about it. In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs invite Monument’s Erin Hay, CFA, and Nate Tonsager, CIPM, to talk about the Flexible Asset Allocation (FAA) Model –what it is, where we use it and don’t use it, and how it impacts you and your wealth portfolio. “The FAA strategy can be the bulk of your portfolio. Sometimes, it might even be your full portfolio because what it does is it navigates risk, and that’s what we’re doing here is we’re trying to identify the trends in the market and take a different standpoint than just a ‘set it and forget it’ kind of model.” – Erin Hay Stay tuned for more episodes just like this one where the team breaks down the other various investment strategies we use at Monument Wealth Management! Please see important podcast disclosure information at . Episode Timeline/Key Highlights: [00:33] Introducing the topic of today’s episode. [01:38] What is Flexible Asset Allocation? [03:38] What is a “trend” in asset management? [09:59] Why we don’t deviate from the rules: The systematic part of FAA. [12:01] Risk and return of the flexible asset allocation strategy. [17:22] What types of assets do you invest in with flexible asset allocation? [20:35] Our process for deciding your asset allocation. [24:06] Why don’t we do weekly flexible asset allocation? [25:20] Can I be 100% allocated to stocks? [26:06] When the flexible asset allocation model works and doesn’t work. Resources Mentioned: OECD: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: 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 .
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How to Save for Your Child’s College Without Sacrificing Your Retirement | Ann Garcia, The College Financial Lady
02/21/2023
How to Save for Your Child’s College Without Sacrificing Your Retirement | Ann Garcia, The College Financial Lady
Want to support your child’s education, but don’t know where to start? Worried that contributing to your child’s college fund may impact building your retirement account? Saving for college can be nerve-wracking, but we promise this episode will make it less scary and more empowering. In this episode of Off the Wall, hosts David Armstrong and Jessica Gibbs welcome Ann Garcia, aka The College Financial Lady. Ann is a CERTIFIED FINANCIAL PLANNER™, Managing Partner of Independent Progressive Advisors, and a mother of twin college students. As The College Financial Lady, Ann has helped thousands of students save money on college education while protecting their parents’ financial futures. Tune in to learn Ann’s top tips and advice on saving money for college, the different ways you can use your 529 savings plan, and how to take advantage of scholarships and financial aid. Plus, she offers helpful advice on talking to your kids about money and college. “The sooner you set up a 529 and start an automatic monthly contribution, even if it’s $10 a month, the better off you’re going to be in the long run.” – Ann Garcia *Please see important podcast disclosure information at . Episode Timeline/Key Highlights: [00:50] Introducing Ann Garcia & the topic of today’s episode. [01:56] Is going to college a good investment? [07:56] The dangers of pushing your child to be a high achiever. [11:23] Explaining weighted vs. unweighted GPA & Which GPA do colleges look at? [14:14] Two ways to answer: How much should I save for my kid’s college fund? [19:44] How to set aside money for a college fund without compromising your retirement. [22:02] Why you should use a college’s net price calculator. [23:00] How to roll over surplus 529 money using the new provision in the SECURE 2.0 Act. [26:52] Talking to your kids about money and college. [29:40] What you need to know about college scholarships and financial aid. Resources Mentioned: Take Ann’s Masterclass - How to Pay for College: How to Pay for College by Ann Garcia, CFP®: About Ann Garcia: Ann Garcia, CFP®, is the Owner of Independent Progressive Advisors, a fee-only Registered Investment Advisor in Portland OR, and author of The College Financial Lady blog (thecollegefinanciallady.com), which has over 15,000 subscribers. In addition, Ann is regularly cited in national media (New York Times, US News & World Report) on the subject of college planning. She earned a BA from the University of California, Berkeley, and is a member of Phi Beta Kappa and of NAPFA, the leading association of fee-only financial advisors. Ann is also a parent of twins who are attending their top-choice colleges. Connect with Ann: Visit her website: Connect with her on Facebook: Connect with Monument Wealth Management: Visit our website: Follow us on Instagram: Follow us on Twitter: Connect with us on LinkedIn: Connect with us on Facebook: 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 the go-to podcast 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 .
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