Category: Education
How To Find The Right Financial Advisor With Alec Quaid (Ep.15)

How To Find The Right Financial Advisor With Alec Quaid (Ep.15)

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It’s time to interview your new financial advisor. 

What questions do you ask, and how do you know they’re the right fit for you?

Ryan Poterack and Alec Quaid discuss the critical role of personal values in financial planning, emphasizing a holistic approach to retirement that includes lifestyle goals alongside financial strategies. 

They highlight the importance of vetting wealth managers, understanding their compensation structure, and ensuring they act as fiduciaries. The conversation also covers the benefits of boutique firms, the necessity of data security, and staying updated with industry advancements. 

Discussion points include: 

  • The questions you should ask your potential financial advisor
  • The difference between fee-based vs. commission-based advisor
  • Red flags in financial advisors
  • Understanding fiduciary standard and how this approach puts YOU first
  • And more

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Connect with Alec Quaid, CFP®

About our Guest: 

Alec is a Certified Financial Planner™ Professional who is dedicated to serving people through the platform of financial planning. He takes great pride in helping people accomplish their goals and enjoys helping his clients gain confidence in their financial futures. He is very passionate about educating consumers on the key things to look for in an advisor and also the things that should be cause for concern. Alec has been featured in multiple national publications such as the Wall Street Journal, Forbes, InvestmentNews, and MarketWatch. He serves with multiple organizations including at his local church, Board Member with the Colorado Financial Planning Association, Committee Chair at the Aurora Chamber of Commerce, and as a member and speaker with the nonprofit RoadMap for Aging.

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What Wealth Management Is Vs. What People Think It Is With Alec Quaid (Ep.14)

What Wealth Management Is Vs. What People Think It Is With Alec Quaid (Ep.14)

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You’ve got your finance guy or gal who manages your investments, but is that truly all they do?

It’s time for Ryan Poterack and Alec Quaid from Poterack Capital Advisory to discuss holistic wealth management, stressing the need to understand your unique values and life goals.

The conversation covers the importance of comprehensive financial planning over limited product offerings, client education, and the significance of open communication to debunk industry myths.

These two professionals share rewarding experiences of assisting clients through major life events and the value of trust in client relationships.

Discussion points include:

  • The difference between comprehensive & limited financial advice
  • Breaking down some industry stereotypes, frustrations, and misconceptions
  • The rewarding moments of being a financial professional
  • And more

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Connect with Alec Quaid, CFP®

About our Guest:

Alec is a Certified Financial Planner™ Professional who is dedicated to serving people through the platform of financial planning. He takes great pride in helping people accomplish their goals and enjoys helping his clients gain confidence in their financial futures. He is very passionate about educating consumers on the key things to look for in an advisor and also the things that should be cause for concern. Alec has been featured in multiple national publications such as the Wall Street Journal, Forbes, InvestmentNews, and MarketWatch. He serves with multiple organizations including at his local church, Board Member with the Colorado Financial Planning Association, Committee Chair at the Aurora Chamber of Commerce, and as a member and speaker with the nonprofit RoadMap for Aging.

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Understanding Charitable Giving Tax Implications To Maximize Your Impact (Ep.13)

Understanding Charitable Giving Tax Implications To Maximize Your Impact (Ep.13)

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Do you plan on donating money to your favorite charities?

First, let’s understand the tax implications so you can maximize your charitable impact.

In this release, Ryan Poterack discusses the nuances of charitable giving. He describes the strategies like qualified charitable distributions and donor-advised funds, and the benefits of donating appreciated assets. 

Ryan is eager to offer detailed advice, emphasizing the importance of professional guidance for individual financial situations. 

Ryan discusses:

  • Qualified charitable distributions and why they’re a smart move for retirement savings
  • How donor-advised funds offer flexibility in your philanthropy
  • The win-win scenario of donating your appreciated assets 
  • The value of seeking professional guidance when making these emotional decisions

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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The Most Essential Conversations You Need to Have About Estate Planning (Ep. 11)

The Most Essential Conversations You Need to Have About Estate Planning (Ep. 11)

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Not all conversations about money are going to be comfortable, especially the conversation about what happens to your assets after you pass away.

This week, Ryan Poterack discusses the value of having conversations about money and estate planning early on in life. Ryan highlights the emotional aspects of these discussions and the role of a wealth manager in facilitating them. 

This episode also covers the necessity of including children in estate planning conversations and the potential for disagreements. Ryan then goes on to emphasize the value of having a plan and how to thoroughly communicate it to loved ones.

Talking points include: 

  • How to start conversations about estate planning with your loved ones
  • The most common mistakes people make when creating an estate plan (and how to avoid them)
  • The emotional aspect of having these conversations and why it’s up to the parents to decide when to initiate them
  • The roles associated with an estate plan (including power of attorney, financial power of attorney, and the executor)
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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The Ins and Outs of Compensation Within The Financial Industry (Ep. 10)

The Ins and Outs of Compensation Within The Financial Industry (Ep. 10)

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“How much and how do you get paid?”

This can be an uncomfortable question to ask your current or prospective financial advisor.

This week, Ryan Poterack discusses the importance of transparency in how financial advisors are compensated today. Ryan also explains different payment methods, such as commissions and fees, while emphasizing the need for this information to be accessible to consumers to ensure a strong client-advisor relationship.

Main talking points include:

  • The various ways financial advisors get compensated
  • The role (and importance) of transparency in any advisor-client relationship
  • Poterack Capital Advisory’s approach to advisor compensation
  • The client or advisor: Who should initiate the compensation conversation 
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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Using Roth IRAs to Create a Tax-Efficient Retirement (Ep. 9)

Using Roth IRAs to Create a Tax-Efficient Retirement (Ep. 9)

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We’ve talked about the good, the bad, and the limitations of traditional 401(k)s. Now, we’re tackling the process of turning that traditional IRA into a Roth IRA. 

What does it take to do a Roth conversion, and is it right for you? 

In this episode, Ryan Poterack discusses the benefits and process of converting a traditional IRA into a Roth IRA. He explains the tax implications of both types of IRAs and the value of considering current and future income tax brackets when deciding to convert. 

Tune in as Ryan emphasizes the importance of critical thinking in financial planning, using specific examples to illustrate his points. 

Main talking points include: 

  • What are Roth IRA conversions and how to maximize its usage  
  • The tax implications of having an IRA conversion
  • The role Roth IRAs have in your unique retirement plan
  • The value of critical thinking skills when creating your financial plans
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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Can We Have Too Much Money? Understanding The Purpose of Our Money (Ep. 8)

Can We Have Too Much Money? Understanding The Purpose of Our Money (Ep. 8)

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“Your eyes are bigger than your belly.”

Have you heard this saying? (You eat too much of something good and end up feeling not-so-good afterward!)

Now, let’s apply it to our finances. Can we have too much money? How much is enough for retirement?

In this episode, Ryan Poterack discusses the purpose of money, focusing on its role during retirement. Ryan explains why wealth accumulation is not about greed but about maintaining a lifestyle and potentially giving back. 

Ryan uncovers: 

  • Tips on determining how much is enough for personal retirement goals and needs
  • The influence of social media on retirement expectations
  • Ways societal pressures influence people’s financial desires
  • The role of charitable giving in retirement and how to start creating a legacy plan
  • How listening to our personal needs and circumstances can help us know when is the right time to retire
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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Let’s Talk About Inflation: Its History, Modern Impact, and Possible Future Trajectory (Ep. 7)

Let’s Talk About Inflation: Its History, Modern Impact, and Possible Future Trajectory (Ep. 7)

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Like most things these days, inflation is getting politicized. 

And the truth is that we all want a soft landing from it, regardless of who gets credit for it.

This week, Ryan Poterack explores recent inflation, its impact on the economy, and its relationship with higher interest rates. He also sheds light on the history of inflation and its effect on various sectors, including healthcare and education. 

Ryan discusses: 

  • The intricate relationship between inflation and interest rates
  • The gig economy and its impact on wages and inflation
  • An on-repeat question: Is inflation ever a ‘good thing’ for the economy and working citizens?
  • Ways to mitigate the risk of inflation impacting our asset allocation strategy
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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Growth by Mistakes: Learning & Embracing Missteps (Ep. 6)

Growth by Mistakes: Learning & Embracing Missteps (Ep. 6)

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Making mistakes can be discouraging and even embarrassing at times.

But the key to personal and professional growth lies in embracing mistakes!

In this episode, Ryan Poterack helps you look past your mistakes and turn negative experiences into valuable life lessons.

Ryan discusses: 

  • The importance of personal responsibility and embracing mistakes (but not repeated mistakes!)
  • How faith has helped him overcome fear and improve his relationships
  • How to approach circumstances that are out of your control
  • Guiding clients to untangle past baggage and embrace what’s best for them now
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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