Practical Application

December! Are you kidding me!? And just like that, we approach the final weeks of another year. 

Life. Moves. Fast! 

It was the Summer of 2018 when Thoughts On Money was born.  Brian Tong, Director of Strategy & Communications at The Bahnsen Group, was willing to entertain an idea I had for writing a weekly note on financial planning, what came to be affectionately known as “TOM.” Some three years later, and Brian (along with Glen Hall) has edited, published, and recorded about 150+ of these little TOM notes.       

As a reader of our content or a client, you begin to learn some of the names and faces of The Bahnsen Group.  You may have a deeper, more familiar relationship with one or two of us, perhaps you’ve met another one or two in passing, and maybe you are aware of some of the others that make up this team.  If you work at The Bahnsen Group, you know this more than a team; it’s a family.  Now 35+ members make up this family, and there is a constant buzz and conversation across different departments and team members all striving for one goal – how to serve our clients better.   

I give you this background because my friend and colleague, Brian Tong, was helping to construct TOM alongside me on day one and is still providing valuable feedback on how this content can – better serve our clients and readers.  Recently Brian and I chatted about how to go about discussing financial matters in a more practical application manner.  Much of TOM is littered with financial wisdom, textbook equations, and advice, but Brian wondered what this all looks like in practice.  So, today, Sean Latimer and I jumped into the studio. Brian hit the record button. We did just that – we talked about practical applications around financial organization and estate planning.   

 

Why this topic?  Well, I think this is one of the more underappreciated areas of financial planning.  We have a lot of folks that come to us because they want a trustworthy advice-giver to backfill them as the CFO of their household.  We hear this a lot, “I just want to make sure my family is taken care of if anything was ever to happen to me.” This is a common desire, and resourcing an advisor is a positive step in the right direction to solve for this, but there are also some practical steps around organizing your financial documents and executing some estate matters that often get put on the back burner or forgotten.  Today we discuss real-life experiences as a financial advisor and use these examples to reiterate the importance of organization and legacy planning.  All from a practical application perspective.   

So, without further ado, please join us for this week’s podcast, Practical Application

The Bahnsen Group is registered with HighTower Securities, LLC, member FINRA and SIPC, and with HighTower Advisors, LLC, a registered investment advisor with the SEC. Securities are offered through HighTower Securities, LLC; advisory services are offered through HighTower Advisors, LLC.

This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.

All data and information reference herein are from sources believed to be reliable. Any opinions, news, research, analyses, prices, or other information contained in this research is provided as general market commentary, it does not constitute investment advice. The team and HighTower shall not in any way be liable for claims, and make no expressed or implied representations or warranties as to the accuracy or completeness of the data and other information, or for statements or errors contained in or omissions from the obtained data and information referenced herein. The data and information are provided as of the date referenced. Such data and information are subject to change without notice.

Third-party links and references are provided solely to share social, cultural and educational information. Any reference in this post to any person, or organization, or activities, products, or services related to such person or organization, or any linkages from this post to the web site of another party, do not constitute or imply the endorsement, recommendation, or favoring of The Bahnsen Group or Hightower Advisors, LLC, or any of its affiliates, employees or contractors acting on their behalf. Hightower Advisors, LLC, do not guarantee the accuracy or safety of any linked site.

Hightower Advisors do not provide tax or legal advice. This material was not intended or written to be used or presented to any entity as tax advice or tax information. Tax laws vary based on the client’s individual circumstances and can change at any time without notice. Clients are urged to consult their tax or legal advisor for related questions.

This document was created for informational purposes only; the opinions expressed are solely those of the team and do not represent those of HighTower Advisors, LLC, or any of its affiliates.

About the Author

Trevor Cummings

Private Wealth Advisor, Partner

Trevor is a Partner and Director of our Private Wealth Advisor Group.

As the author of TOM [Thoughts On Money], Trevor endeavors to write and speak about financial concepts and principles in a kind of “straight” talk demeanor and posture.

He received his Bachelor’s degree in Organizational Leadership from Biola University and his MBA from California State University, Fullerton.

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