Category: Financial Advisor
The Risks of a Concentrated Portfolio With Randy Porzel (Ep.55)

The Risks of a Concentrated Portfolio With Randy Porzel (Ep.55)

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How do you manage concentrated stock portfolios? With the tech industry thriving, many investors are discovering that their portfolios are heavily reliant on a few major tech stocks, making it a challenging landscape to navigate.

Nicole Romito converses with her colleague Randy Porzel, CFP®, and RICP® from Private Vista. Together, they explore the intricacies of concentrated stock positions and their potential effects on your financial future. They discuss effective methods for assessing your stocks, examine strategies to mitigate overexposure, and share insights on how to maintain a robust financial plan.

Gain insight as this episode highlights: 

  • The risks of concentrated stock positions and their impact on your financial plan
  • Effective strategies for diversifying a portfolio and reducing risk
  • The unique benefits of strategic gifting and charitable donations using stock 
  • Tax considerations and how to leverage capital losses
  • And more

Connect with Nicole Romito: 

Connect with Randy Porzel:

About Our Guest: 

Randy Porzel’s financial services career began in 2006 as an intern and has worked his way up through every job at Private Vista. Randy has spent hours in meetings with clients, asking questions, and observing. He learned to recognize expectations, a client’s need for clarity, and how without it, there might exist an anxious future. It’s why Randy enjoys taking his clients through Private Vista’s planning process, using Private Vista’s tools that answer their questions and clear any uncertainty so that his clients can look forward to their idea of an enriched life.

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Building Your Financial Dream Team with Greg Bogdan (Ep.54)

Building Your Financial Dream Team with Greg Bogdan (Ep.54)

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Assembling a smart financial team could be the key to your long-term financial success. 

Financial planning isn’t just about the numbers; it’s about orchestrating a professional team that grows with you, helping further secure your financial future and peace of mind.

Nicole Romito sits down with Greg Bogdan, Senior Advisor at Private Vista, to discuss why having a well-rounded financial team is crucial. Learn the importance of avoiding a “team of one,” how to integrate your financial, legal, and tax advisors, and real-life stories illustrating the impact of a coordinated approach.  

  • The importance of a complete team: Understand why a single advisor may not be enough to cover complex financial needs.
  • The value of proactive planning and why regular updates are essential
  • Examples of how a coordinated team has simplified estate settlement and major financial decisions 
  • How to start building your financial team today

Connect with Nicole Romito: 

Connect with Greg Bogdan:

About Our Guest: 

Greg Bogdan enjoys creating lasting relationships as a trusted advisor to clients. He finds it most rewarding to help his clients think through their financial situations in developing a customized plan and path to achieving their goals. After walking clients through his process, Greg hopes that they come away feeling empowered to make informed financial decisions with the confidence of knowing how to achieve their vision of ‘financial independence’ while living a more enriched and fulfilling life.

With a busy, young family, outside of work and in between shuttling their girls (ages 7, 5, and 1) between activities, Greg, and his wife, Christi, enjoy cookouts and entertaining with their friends and family. During the summer months, they’re often found at nearby parks, going on walks with their dog, Clancy, or riding bikes as a family. They most enjoy summer vacations on the beaches of Cape Cod and the shores of Michigan. In the future, My Private Vista is to explore the country and instill their love of traveling in their girls.

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Managing Financial Markets During The Elections With Jeremy Bell (Ep.53)

Managing Financial Markets During The Elections With Jeremy Bell (Ep.53)

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As the U.S. elections approach, many investors find themselves questioning whether to adjust their portfolios in anticipation of potential market changes.

Nicole Romito is joined by Jeremy Bell, Chief Investment Officer for Conway Investment Research, to discuss the impact of US elections on financial markets and how to navigate the resulting volatility. With elections just weeks away, the conversation delves into whether you should adjust your portfolio in anticipation and explores if market performance favors one political party over another. 

Jeremy discusses: 

  • The importance of maintaining a long-term strategic investment plan regardless of election outcomes
  • Historical performance data showing the minimal impact of a political party on market returns
  • The role of the Federal Reserve and its recent actions in maintaining economic stability
  • Key economic indicators to watch and how they influence market predictions
  • And more

Connect with Nicole Romito: 

Connect with Jeremy Bell:

About Our Guest: 

Jeremy is a Principal and Chief Investment Officer for Conway Investment Research, LLC. He joined the firm in 2011 and chairs Conway’s Investment Committee which establishes the firm investment philosophy and process and ultimately oversees the implementation of recommendations made to clients. In addition to leading Conway’s research effort, Jeremy’s primary responsibilities include capital markets research, asset allocation modeling, alternative investment manager due diligence, and management of key client relationships.

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Financial Planning for Medical Professionals with Stephanie Nanney – Part Two (Ep. 52)

Financial Planning for Medical Professionals with Stephanie Nanney – Part Two (Ep. 52)

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Did you know medical professionals typically face over $200,000 in student loan debt upon completing their education? 

This significant financial burden, paired with a delayed start in their earning potential, makes financial planning uniquely challenging.

In this second part of Nicole Romito and Stephanie Nanney’s conversation about financial planning for medical professionals, they dive deeper into the unique circumstances surrounding their financial landscape. Learn tips for managing substantial student debt, balancing personal and professional financial goals, and preparing for large salary changes. 

Nicole and Stephanie discuss: 

  • Managing large student debt and balancing it with other financial goals like buying a home or investing in a practice.
  • The importance of disability insurance and the different policy options available for medical professionals.
  • Navigating the fluctuating income streams typical for medical professionals.
  • A need for collaboration with CPAs, attorneys, and other professionals to ensure comprehensive financial health.
  • And more!

 

Resources:

Connect with Nicole Romito: 

Connect with Stephanie Nanney:

 

About Our Guest: 

Having grown up around the financial services industry, Stephanie Nanney, CFP®, CPFA, knows the value of long-term relationships with clients and the work and reward that comes with helping those clients, and their families, achieve financial goals. Stephanie’s primary goal in helping clients is to listen to them and establish a genuine partnership, providing a strong foundation of financial knowledge that is crucial to achieving their goals. Ultimately, witnessing her clients achieve their Private Vista is the most rewarding aspect of her work.

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Financial Planning for Medical Professionals with Stephanie Nanney – Part One (Ep. 51)

Financial Planning for Medical Professionals with Stephanie Nanney – Part One (Ep. 51)

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Contrary to popular belief, earning a salary as a medical professional can sometimes cap your financial growth. 

Exploring different compensation models could open doors to greater control and profitability.

Join Nicole Romito as she sits down with her partner at Private Vista, Stephanie Nanney to peel back the layers of financial planning for medical professionals, providing insights into compensation structures, retirement planning, and the critical decisions that can shape your financial well-being. By listening, you’ll gain valuable knowledge on how medical professionals are paid, the importance of understanding compensation structures, and strategies to maximize your financial security.

Nicole and Stephanie discuss: 

  • Compensation structures for hospital employees vs. private practice professionals.
  • Contractual considerations for medical professionals regarding salary, bonuses, and benefits.
  • Designing retirement plans to maximize pre-tax savings for medical practice owners.
  • The evolving trend of private practice ownership and its financial and tax implications.
  • And more!

Resources:

Connect with Nicole Romito: 

Connect with Stephanie Nanney:

About Our Guest: 

Having grown up around the financial services industry, Stephanie Nanney, CFP®, CPFA, knows the value of long-term relationships with clients and the work and reward that comes with helping those clients, and their families, achieve financial goals. Stephanie’s primary goal in helping clients is to listen to them and establish a genuine partnership, providing a strong foundation of financial knowledge that is crucial to achieving their goals. Ultimately, witnessing her clients achieve their Private Vista is the most rewarding aspect of her work.

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Tips for Estate Planning With Lindsey Markus (Ep. 50)

Tips for Estate Planning With Lindsey Markus (Ep. 50)

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Navigating the complexities of estate planning can feel overwhelming, and many of us are uncertain about how to initiate this crucial conversation with our families

But don’t let your fears of the unknown stop you from planning this important piece of your legacy.

Join guest Lindsey Markus, Asset Protection Attorney and Shareholder Principal at Chuhak & Tecson, P.C. as she shares tips for navigating hard conversations around estate planning. Through personal anecdotes and professional guidance, learn how to guide your loved ones to be well-prepared and honor your wishes.

Nicole and Lindsey discuss: 

  • The complexities of estate planning in blended families and first marriages
  • Equitable distribution vs equal distribution
  • Strategies to prevent family conflicts when estate planning
  • The importance of ongoing review and updates in estate plans
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Lindsey Markus:

About our Guest: 

Lindsey Paige Markus is a licensed attorney in the state of Illinois, Florida, and New York. Lindsey concentrates in the areas of estate planning, asset protection, wealth transfers, and taxation. Lindsey works with business owners and families to formulate succession plans, advise in wealth preservation and various aspects of gift and estate taxation. 

Lindsey is also a collaborative law fellow and consults on the estate planning and estate tax implications associated with marriage and divorce. 

Passionate about educating clients and advisors, Lindsey has published more than 30 articles. In addition, Lindsey speaks regularly on estate planning, wealth protection, corporate and non-profit issues to groups and through a variety of media appearances. 

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REPLAY: Everything You Need To Know About 529 Plans With Colleen Dwyer (Ep. 49)

REPLAY: Everything You Need To Know About 529 Plans With Colleen Dwyer (Ep. 49)

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Have you heard of the 529 plan?

It could be your new key to unlocking a brighter future for your kids while being financially efficient. 

Join Nicole Romito as she and her colleague, Colleen Dwyer share the essentials of 529 plans, the tax advantages they offer, and how they can be an integral part of securing the educational futures of your children or grandchildren. Follow along to learn who can contribute, what expenses qualify, and the benefits of starting early. 

Nicole and Colleen discuss: 

  • What a 529 plan is and how the money invested in it can be used 
  • Differences between state-specific plans and strategic decisions
  • Who and what qualifies for a 529 plan
  • The tax and financial benefits of a 529 plan and how to set them up properly
  • And more

Connect with Nicole Romito: 

Connect with Colleen Dwyer:

About Our Guest: 

Colleen Dwyer’s financial services career began in 2018. As a financial advisor at Private Vista, she develops trusted relationships with clients and collaborates to build a plan that creates financial confidence and independence. She enjoys working with a dedicated and experienced team to deliver personal and critical advice and service, so her clients can be successful both financially and personally.

Colleen loves to spend quality time with her friends and family, and actively participate in her community. She lives with her husband in Lincoln Park and enjoys all the city has to offer – frequent bike rides and trying new restaurants. When not in Chicago, she spends time in Michigan and the western suburbs visiting family. Colleen also loves to travel and looks forward to checking places off her bucket list when she can.

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SPECIAL FEATURE: The Divorce and Beyond Podcast: Expensive Mistakes Made in Complex Property Division with Nicole Romito (Ep. 48)

SPECIAL FEATURE: The Divorce and Beyond Podcast: Expensive Mistakes Made in Complex Property Division with Nicole Romito (Ep. 48)

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Are you going through a divorce and need some financial wisdom?

Recently Nicole Romito was a guest on The Divorce and Beyond Podcast with Susan Guthrie. Today’s episode features a replay of an insightful conversation that delves into complex financial issues during and after divorce. Gain insights on matters that arise during divorce – including whether or not to keep the house, how to find hidden assets, and the importance of having an advisor as part of your divorce team.  

Learn essential tips to avoid costly mistakes and gain a deeper understanding of financial planning in the context of divorce.

Topics include but are not limited to:

  • The role of a financial advisor in the early stages of a divorce
  • Tax implications and true walkaway values from investments
  • Complexities of dividing retirement plans, pensions, 401(k)s, and other assets
  • Navigating executive compensation and ensuring a fair division
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Susan Guthrie:

About Susan Guthrie: 

Susan Guthrie, a renowned figure in Family Law and Mediation, has guided individuals and families through separation and divorce for 32 years. She recently co-founded the Mosten Guthrie Academy with mediation expert Forrest “Woody” Mosten, offering cutting-edge training for legal and mediation professionals.

As Chair-Elect of the ABA Section of Dispute Resolution, Susan is poised to lead the Section in the upcoming bar year. Internationally recognized for her expertise in online mediation and AI in law, she has trained over 25,000 professionals worldwide, including programs for ABA, ADRIC, and NADN.

Recipient of the 2020 L. Randolph Lowry Award from the Southern California Mediation Association, Susan also serves on the Executive Committee of the Online Mediation Training Task Force. Additionally, she hosts two acclaimed podcasts, The Divorce & Beyond® Podcast and “The Make Money Mediating Podcast”.

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REPLAY: Mastering Your Finances: Tips for Young Adults with Carrie Shoener (Ep. 47)

REPLAY: Mastering Your Finances: Tips for Young Adults with Carrie Shoener (Ep. 47)

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Jumping into managing your finances can be overwhelming, especially straight out of college.

But don’t worry, this week on Dollar$ and $ense we are replaying a popular episode that includes an insightful conversation about how young adults can build healthy financial habits.

Join Nicole Romito as she chats with Carrie Shoener (nee Mangan) about the importance of saving and investing, tips for maximizing employer contributions to a 401(k), and diversifying retirement savings across different accounts.

Gain insight into:

  • 401(k)s,  including contribution levels, employer matching, and pre-tax deductions
  • The top 3 tips for getting started with investing 
  • Rules of thumb for housing costs
  • Target Date Funds and how they may help you diversify your portfolio with less risk
  • The importance of having an emergency fund
  • And more!

Resource:

Connect with Nicole Romito: 

Connect with Carrie Shoener:

About Our Guest: 

Carrie Shoener is an advisor at Private Vista LLC. Her previous work as a high school teacher emphasized how important it is to build strong relationships as the cornerstone of one’s career. That same principle guides her work as an advisor, where she is able to continue helping people solve problems and make empowered decisions about their futures. Carrie sees her role as a trusted and empathetic source of financial education, and she enjoys working with clients to build up their knowledge and understanding of their options.

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How to Prepare for the Death of a Loved One With Carrie Shoener (Ep. 46)

How to Prepare for the Death of a Loved One With Carrie Shoener (Ep. 46)

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Reflecting on the loss of a loved one is an agonizing journey nobody willingly embarks on.

Yet, those who take proactive steps to brace themselves for such an inevitable occurrence are often spared the crippling weight of financial burden and the relentless onslaught of emotional upheaval in the aftermath.

Join Nicole Romito as she welcomes her esteemed colleague, Carrie Shoener, to discuss the critical but often overlooked topic of preparing for the death of a loved one. Despite the difficulty, it is essential to have these conversations to ensure that everything is in order and wishes are understood. 

Learn key steps and best practices as Nicole and Carrie discuss:

  • How to approach the end-of-life conversation with your loved ones
  • Strategies for ensuring family members have access to essential documents and passwords
  • The importance of having updated financial and estate planning documents 
  • Tips for sharing sensitive topics with family members to avoid future conflicts
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Carrie Shoener:

About Our Guest: 

Carrie Shoener is an advisor at Private Vista LLC. Her previous work as a high school teacher emphasized how important it is to build strong relationships as the cornerstone of one’s career. That same principle guides her work as an advisor, where she is able to continue helping people solve problems and make empowered decisions about their futures. Carrie sees her role as a trusted and empathetic source of financial education, and she enjoys working with clients to build up their knowledge and understanding of their options.

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