Tag: Financial Advisor
Unveiling the Hidden Costs in Your Investments (Ep.19)

Unveiling the Hidden Costs in Your Investments (Ep.19)

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Let’s talk about the fees involved with investing your money, even those pesky hidden ones.

Ryan Poterack is discussing the importance of understanding fees in investments and how they impact returns. Ryan emphasizes the significance of value over cost, highlighting that fees should be equated to the value and services provided. 

The discussion explores the various types of fees, including visible ones like advisory fees and expense ratios, and hidden costs like trading fees and turnover expenses.

Episode discussion points include:

  • The various fees in financial management & related fees to the value provided by advisors
  • Behavioral coaching helping people make informed, rational decisions amid market uncertainties and emotional triggers
  • The benefits of seeking professional help & the value of time, desire, and knowledge that a wealth manager can provide to enhance investment strategies
  • Why fees are not necessarily small and how they can impact investment returns significantly
  • And more

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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Maximizing The Value of Your Inheritance & Ensuring Family Harmony (Ep.18)

Maximizing The Value of Your Inheritance & Ensuring Family Harmony (Ep.18)

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Transferring or inheriting wealth is not as simple as something like “Venmo”. It should require a strategic wealth transfer plan.

Let’s learn how to make one.

Ryan Poterack is exploring the intricate world of inheritance and legacy planning with Certified Financial Planner, Alec Quaid. The discussion skillfully navigates the emotionally charged landscape of receiving an unexpected windfall, including the murky waters of taxation, asset allocation, and the crucial role of proper estate planning. 

Through real-life scenarios and expert insights, this episode sheds light on the delicate balance of grief, finances, and family dynamics that come into play when managing an inheritance. 

Key discussion points include:

  • The emotional impact of inheriting money including unexpected windfalls and the psychological differences in handling inherited wealth
  • Various tax implications of inheriting and transferring wealth
  • Facilitating open communication in families regarding estate planning and discussing inheritances
  • The value of seeking advice from a qualified wealth manager during this time
  • And more

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

Meet the team at Poterack Capital Advisory

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“Getting Rich Slow”: Your Guide To Compound Interest With Alec Quaid (Ep.16)

“Getting Rich Slow”: Your Guide To Compound Interest With Alec Quaid (Ep.16)

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The saying “time is money” is very applicable to the concept of compound interest.

What is it and how does this interest accumulate? 

Ryan Poterack and Alec Quaid discuss the power of compound interest and the necessity of patience for effective wealth accumulation–also known as “how to get rich slow.”

They go over strategies for managing emotional responses to market volatility and underscore the importance of clear communication with clients. The episode also covers the challenges faced during the pandemic and the value of instilling financial discipline in children. 

Ryan & Alec discuss: 

  • How compound interest works
  • Navigating market fluctuations when compounding your money
  • The value of time and patience throughout this process
  • The benefits of behavioral coaching from a financial advisor
  • 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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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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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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Let’s Talk About Tax Planning & How It Can Enhance Your Retirement Savings (Ep. 5)

Let’s Talk About Tax Planning & How It Can Enhance Your Retirement Savings (Ep. 5)

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What’s the difference between tax preparation and tax planning?

Believe it or not, knowing the difference can help you navigate (the often dreaded) tax season!

In this episode, Ryan Poterack reveals why tax planning is a year-round process. He talks about the contrast between tax preparation and tax planning while emphasizing the value of taking proactive steps for your future tax years.

Ryan discusses: 

  • Reasons you should pay your taxes as soon as you get them
  • The options available when you need help with your taxes
  • The advantages of paying taxes through strategies like donor-advised funds and Roth conversions
  • His unique approach to tax refunds and checks
  • The importance of working with a wealth manager who focuses on tax planning and mitigation 
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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How To Find The Right Financial Professional? Here’s What You Need To Know (Ep. 4)

How To Find The Right Financial Professional? Here’s What You Need To Know (Ep. 4)

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When it comes to managing our finances, seeking support from a professional advisor can save us from many costly mistakes.

In this episode, Ryan Poterack uncovers the importance of finding the right financial professional and the concept of comprehensive planning. Ryan stresses the value of gathering quantitative and qualitative information from clients while providing them with a holistic view of their financial situation and personal aspirations. 

Listen in as Ryan addresses the challenges faced by ‘do-it-yourselfers’ and the benefits of establishing a fee-for-advice relationship with a financial professional.

Ryan discusses: 

  • Reasons he gathers quantitative and qualitative client data
  • What  ‘fiduciary’ means at Poterack Capital Advisory
  • The value of asking your advisor about their professional network (ranging from attorneys, CPAs, tax professionals, and beyond!)
  • Some of the roadblocks ‘do-it-yourselfers’ face when doing their own financial planning
  • And more!

Resources:

Connect with Ryan Poterack: 

Connect with Poterack Capital Advisory: 

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