Tag: Financial Advisor

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Trust Companies vs. Individual Trustees: Which Is Right for Your Special Needs Trust? Discussion with Dan Ehrmentraut of Capital First Trust (Ep. 30)

Trust Companies vs. Individual Trustees: Which Is Right for Your Special Needs Trust? Discussion with Dan Ehrmentraut of Capital First Trust (Ep. 30)

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Supplemental Needs Trust is an often-underrated game-changer, paramount for enhancing the quality of life for individuals with special needs.

In this episode, Jim McGovern talks with Dan Ehrmentraut, Senior Vice President of Business Development at Capital First Trust, about the ins and outs of Supplemental Needs Trusts. Together, they dive into the world of trust management, debunking common misconceptions, and shedding light on how these tools can protect assets and qualify individuals for essential government benefits.

Throughout this episode, Jim and Dan discuss:

  • The definition of Supplemental Needs Trusts, their key benefits, and who can benefit from them 
  • How a trust can qualify an individual for government benefits while protecting other assets 
  • The crucial role of estate planning in preserving the beneficiary’s access to resources and eligibility for benefits 
  • The reluctance of many corporate trustees to administer special needs trusts, and how Capital First Trust fills this gap 
  • And more!

Resources:

Connect with Dan Ehrmentraut:

Connect with McGovern Wealth Group:

About our guest:

Dan Ehrmentraut is a seasoned expert in trust management with an illustrious career in both law and finance. Holding a J.D. from the University of New York at Buffalo and admitted to the New York Bar in 1984, Dan carries a wealth of experience and knowledge. Over two decades, Dan worked his magic in traditional bank trust departments, navigating roles as Trust Officer, Regional Trust Manager, Supervisor of Trust Tax and IRA, Sales Manager, and Department Head. His journey took him further to the doors of several large financial service companies, playing significant roles in business development.

In 2013, Dan joined Capital First Trust Company, expanding its directed trustee presence across various financial and legal landscapes. His vast experience and knack for details have led him to successfully work with numerous financial advisors on complex estate plans, integrating the benefits of a directed trust structure for wealthy clients.

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Unlocking Retirement Security: How Annuities Can Help Protect Assets and Guarantee¹ Lifetime Income, Part 2 (Ep. 27)

Unlocking Retirement Security: How Annuities Can Help Protect Assets and Guarantee¹ Lifetime Income, Part 2 (Ep. 27)

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In the second part of this two-part series, Jim McGovern discusses how annuities can help provide a secure “retirement salary” that cannot be outlived¹ and how to help position other assets to serve as a “bonus” component for retirement spending. Jim discusses some of the challenges retirees face when relying solely on market-based investments, limitations of the popular “4% Withdrawal Rate” concept, and different ways annuities can be structured to meet income, investment, risk, and protection objectives in retirement.

Jim discusses:

  • Why it is important to have a reliable source of guaranteed¹ lifelong income in retirement
  • The potential consequences of relying solely on market-based investments
  • The different types of annuities that provide guaranteed¹ lifetime income and some of their key features
  • Addressing the worry of retirement savings earning a poor return (and how to mitigate this risk!)
  • Other uses for annuities besides investing and retirement income
  • The fees and penalty withdrawals considerations for annuities
  • How to know which income strategy you should use in retirement according to your unique goals and objectives.
  • And more

 

1All guarantees including the death benefit payments are dependent upon the claims paying ability of the issuing company.

Resources:

Connect with McGovern Wealth Group:

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The Fundamentals Of Investing (Ep.10)

The Fundamentals Of Investing (Ep.10)

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Do you know what ingredients are in your investment portfolio, the recipe being used and why?

Do you know how markets work, the factors that influence your long-term returns, and what to expect out of your portfolio based on how it’s designed? Without an intuitive and logical framework to follow, investing can be confusing, intimidating, and frustrating. It doesn’t have to be that way.

In this episode, Jim McGovern outlines the fundamentals of investing and what most investors don’t know about building an efficient portfolio. He provides jargon free answers to common investment questions and breaks down investing into 3 easy to understand steps.

Jim discusses:

  • Four investment factors that can impact returns over time
  • How to calculate investment risk so you know what to expect as an investor
  • Investing strategies to help you understand why you’re investing in certain types of stocks or bonds
  • How to invest with confidence
  • And more

 Resources:

 Connect with McGovern Wealth Group:

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What to Expect When Having Your First Conversation About Retirement (Ep.2)

What to Expect When Having Your First Conversation About Retirement (Ep.2)

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Planning for your finances far in advance is always a good idea. However, planning for harsh financial circumstances is much more difficult.

In this episode of Maximizing Outcomes, Jim McGovern explains what clients can expect when having their first conversation with a financial advisor. He also goes into detail about the difference between a good and a great strategy when saving money for retirement.

Jim discusses:

  • What the first conversation with his team looks like using his unique four-step-process
  • The history of growth in his company by using their unique approach with clients
  • Strategies to use for avoiding or facing anticipated harsh financial circumstances
  • Strategies his clients have found successful when saving for retirement and managing their cash flows
  • And more

Connect with McGovern Wealth Group:

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