Tag: Dollar$ and $ense

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Strategies for Maximizing Executive Compensation with Matt Parenti – Part One (Ep. 42)

Strategies for Maximizing Executive Compensation with Matt Parenti – Part One (Ep. 42)

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Are you a corporate executive navigating the complexities of executive compensation? 

Follow along in this installment as Nicole Romito is joined by Matt Parenti a fellow partner at Private Vista. Learn the ABCs of executive compensation and how to maximize your compensation plans for financial success and security in today’s ever-evolving market landscape.

Nicole & Matt discuss: 

  • Different ways corporate executives are compensated
  • Challenges and considerations faced by executives 
  • Managing company stock and deferred compensation plans as part of a financial strategy
  • And more!

Connect with Nicole Romito: 

Connect with Matt Parenti:

About Matt Parenti: 

Matt Parenti is a seasoned financial planner specializing in assisting corporate executives, startup entrepreneurs, and business owners. With a focus on legacy planning, Matt ensures his clients’ financial security and longevity. He is deeply committed to building meaningful relationships, both professionally and personally. As Chair of the Growth & Marketing Committee at his firm, he emphasizes the importance of the “Private Vista Experience” for clients and colleagues alike. He holds a Bachelor’s Degree in Consumer Economics and a Minor in International Studies from the University of Illinois Urbana-Champaign, along with a Master’s Degree in Finance from the University of Notre Dame.

Outside of work, Matt treasures time with family and friends, enjoys outdoor activities, and seeks to share his knowledge through mentorship and teaching.

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Living Your Fulfilled Life With Julie Liss (Ep. 41)

Living Your Fulfilled Life With Julie Liss (Ep. 41)

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When thinking about your financial plan, are you focusing on the serious aspects and how adult the conversation is? Or are you adding in some humor to create a more fulfilling retirement 

plan?

In this episode, Nicole Romito speaks with Julie Liss, Chief Strategy Officer and Managing Director at Hal Riney, on the importance of incorporating humor into financial strategies and focusing on present joy and fulfillment rather than solely retirement and financial numbers. They explore the importance of creativity, managing a busy schedule, remote work, community, and the freedom that wealth can bring.

Nicole and Julie discuss: 

  • The importance of humor and not taking financial life too seriously
  • Why advisors and their clients should have discussions about the client’s life beyond careers and finances
  • Redefining what retirement means beyond leaving the job
  • How to balance a busy schedule with personal time for creativity
  • And more

Connect with Nicole Romito: 

Connect with Julie Liss:

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Preparing For The Sale of Your Business: Part 3 with Matthew Hammer & Dawn Mase (Ep. 40)

Preparing For The Sale of Your Business: Part 3 with Matthew Hammer & Dawn Mase (Ep. 40)

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Are you grappling with the complexities of selling your business, unsure of where to start or how to navigate the process?

In this enlightening episode, Nicole is joined by seasoned professionals, Matthew Hammer and Dawn Mase from Wintrust Commercial Banking, to shed light on the intricacies of selling a business. Through their experiences and insights, they demystify the process and provide valuable advice to help business owners overcome different hurdles to successfully exit their business and leave it in the right hands.

Nicole, Matthew Hammer & Dawn Mase discuss: 

  • Different ways to exit your business
  • Selling to strategic investors, financial investors, or through private sales
  • Structuring the sale transaction
  • Overcoming common pitfalls
  • Key components of the sale transaction, ie earnouts, rollover equity, and working capital adjustments
  • Continuing involvement post-sale
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Matthew Hammer:

About Matthew: 

Matthew Hammer is a Group Senior Vice President & Division Manager in Wintrust’s Commercial Bank managing Chicago-based middle market privately held businesses.  Matt has 21 years of commercial banking experience, including helping lead Wintrust’s growth since 2013 with diverse experience with manufacturing, distribution, and service companies.

Matt has a Bachelor’s Degree from Purdue University, Krannert School of Management with a focus in Finance and Marketing.  Matt is an Evans Scholar alum and active in various leadership positions within the Western Golf Association and Purdue University Chapter. Before joining Wintrust in 2013, Matt worked for LaSalle Bank and its successor Bank of America for 10 years.

Connect with Dawn Mase:

About Dawn Mase: 

Dawn Mase is a Senior Vice President in Wintrust’s Commercial Bank where she serves as relationship manager identifying and developing new client relationships and providing comprehensive solutions to existing client relationships. Dawn has over 25 years of commercial banking experience in cash flow and collateralized lending, primarily to privately held companies covering a broad spectrum of industries. She has experience in many areas including financing, domestic and international treasury management, investment management, trade and FX, asset-based lending, equipment finance, derivatives as well as syndicated finance.

Dawn earned a bachelor’s degree in business from Illinois State University with a focus in finance. She has been actively involved in mentoring young bankers throughout her career. Prior to Wintrust, she worked for JPMorgan Chase within their capital markets group. She specialized in syndicated finance and private placements and was Series 7 licensed.

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Preparing For The Sale of Your Business: Part 2 with Deanna Salo and Eric VanderPloeg (Ep. 39)

Preparing For The Sale of Your Business: Part 2 with Deanna Salo and Eric VanderPloeg (Ep. 39)

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Whether you’re at the onset of selling your business or simply exploring your options, knowing what to look out for can help you make informed decisions.

In this episode, Nicole is joined by Deanna Salo Managing Principal with Cray Kaiser, and Eric Vanderploeg of Burke, Warren, MacKay & Serritella’s Litigation to share their wealth of knowledge and practical tips to guide you through the process.

Join us for an insightful discussion on the legal, tax, and financial considerations when preparing to sell your business.

Nicole, Eric & Deanna discuss: 

  • The importance of involving professionals early in the sale process.
  • The critical role of corporate agreements.
  • The importance of accurately valuing the business.
  • Involving key employees to protect the value of the business.
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Eric VanderPloeg:

Connect with Deanna Salo:

About Deanna:

Deanna Salo has been with Cray Kaiser for over 35 years, where she specializes in mergers, acquisitions, shareholder disputes, and ensuring strong agreements for companies. However, she emphasizes the personal impact of each engagement, viewing them as connections with individuals or families. 

Starting at Cray Kaiser in 1986 after graduating from the University of Arizona, Deanna has grown alongside the firm, which values a people-centric approach. As a Principal since 2001 and Managing Principal since 2021, she provides assurance, strategic, and tax planning services, particularly focusing on closely held and family-owned businesses and nonprofits. 

Deanna also leads Cray Kaiser’s relationship with DePaul University’s Entrepreneur and Family Business Council and is highly accessible to its members due to her dedication to their success.

About Eric:

Eric P. VanderPloeg is a partner at Burke, Warren, MacKay & Serritella, P.C. Mr. VanderPloeg is a member of the firm’s Automotive Franchise, Litigation, and Consumer Financial Services Litigation practice groups.

Eric started his career as a litigator, and he has handled an array of commercial matters in both state and federal court in several states and jurisdictions.  In addition to handling disputes, Eric now also acts as general counsel to businesses in several industries, providing advice on legal matters, including contractual, employment, regulatory, and corporate governance matters.

In 2016, 2017, 2018, 2019, and 2020, Mr. VanderPloeg was named as a Rising Star by Super Lawyers®, an attorney rating service from Thompson Reuters.

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Preparing For The Sale of Your Business: Part 1 with George Karavattuveetil (Ep. 38)

Preparing For The Sale of Your Business: Part 1 with George Karavattuveetil (Ep. 38)

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So you’re ready to sell your business or have been thinking about selling for a while, now what?

In this two-part episode, Nicole speaks with George Karavattuveetil, President of Psyched, LLC, about how to prepare yourself to sell your business. George shares his 3-step process to help business owners get ready to sell. Nicole and George draw attention to the lack of understanding and preparation among business owners for the emotional impact of selling their business, and the shift in private equity firms’ interest in long-term views when purchasing businesses. They go on to emphasize the importance of managing emotions during the sale of a business, and the value of teamwork and professional advice during the transition.

Nicole and George discuss: 

  • Emotional and psychological aspects of preparing to sell a business
  • Prioritizing goals and values when seeking a buyer
  • Private equity firms’ interest in long-term views when purchasing businesses
  • And more

Resources:

Connect with Nicole Romito: 

Connect with George Karavattuveetil:

About George Karavattuveetil: 

George Karavattuveetil is the President of Psyched, LLC. His unique experience has provided him with opportunities to gain critical perspectives of employees and management, entry-level and executive, within union and non-union environments, and across nearly every industry and functional classification. His success has always been with people. George’s goal is to maximize individual and team performance. Not in comparison to others, but relative to what one is capable of. 

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Municipal Bonds Unveiled with Matt Bernardi (Ep. 37)

Municipal Bonds Unveiled with Matt Bernardi (Ep. 37)

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There is a big part of the investing world that doesn’t get as much news as equity markets.

But it should.

In this installment of Dollar$ and $ense, Nicole is joined by Matt Bernardi from Bernardi Securities. Together, they demystify the municipal bond market, a key component in funding local infrastructure projects that are vital to our communities. Matt and Nicole expand on how today’s market has weathered the storm of the COVID-19 crisis and the role of stimulus funds in ensuring municipal stability. The discussion extends to the broader economic context, including consumer spending patterns and the Federal Reserve’s monetary policy, to illustrate their impact on the bond market.

With this episode, you will gain insight into: 

  • The significance of the municipal bond market
  • Resilience and adaptability of municipal credit during and after COVID-19
  • How the Federal Reserve’s actions impact the municipal bond market
  • Pension liabilities and the potential effects of quantitative tightening on bond portfolios
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Matt Bernardi: 

About Our Guest: 

Matt Bernardi joined Bernardi Securities in August of 2013 after trading for 3 years at Chesapeake Partners, a hedge fund located in Baltimore, Maryland. Matt currently assists individuals, pension funds, banks, and other institutions regarding their municipal bond portfolios. He graduated from Johns Hopkins University in 2010 with a B.A. in history and economics minor. Matt currently holds the Series 7, 24, 27, 52, 53, 63, and 65 licenses, serves on the Union League Boys & Girls Club investment committee, and is past President of the Associate Board.

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Building Your Team for a Successful Divorce Process with Susan Guthrie (Ep. 36)

Building Your Team for a Successful Divorce Process with Susan Guthrie (Ep. 36)

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Divorce is an emotional time for both spouses, but it’s important not to let emotions control the process. How can you build the best team for your divorce?

In this episode, Nicole Romito speaks with Susan Guthrie, a family law attorney, about the intricacies of divorce. They emphasize the value of a collaborative approach over litigation and the importance of assembling a professional team, including attorneys, financial advisors, and mental health professionals. Susan advises listeners on how to select the right attorney, stressing the need for one who genuinely practices collaborative law. They discuss the significance of experience and mindset in professionals guiding the divorce process and debunk the misconception that collaborative divorce requires a friendly relationship between spouses. Their conversation highlights the benefits of collaborative and mediated divorces for all parties involved, especially children.

Nicole and Susan discuss: 

  • The need for emotional support before hiring an attorney
  • The role of a divorce coach and a financial professional in managing emotions and making rational decisions
  • The benefits associated with a well-rounded professional team
  • The holistic approach to divorce which involves legal, emotional, and financial aspects
  • Misconceptions about collaborative divorce, the importance of commitment to the process, and how to find an attorney committed to the collaborative process
  • The importance of vetting professionals and asking the right questions
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Susan Guthrie:

About Our Guest: 

Susan Guthrie is a nationally recognized family law attorney. She had a successful practice in Connecticut for 32 years and now is a well-known, collaborative and mediation trainer. She aims to help other attorneys learn how to effectively help their clients choose a more productive and amicable way to divorce. She’s also the host of two podcasts, Divorce and Beyond, and Make Money Mediating. 

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Key Changes in the Secure Act 2.0 With Laurie Kaplan (Ep. 35)

Key Changes in the Secure Act 2.0 With Laurie Kaplan (Ep. 35)

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The Secure Act 2.0 is ever-evolving and has brought up some important questions recently, so let’s go over them!

Laurie Kaplan, CPA, partner at Michael Silver, joins Nicole for her second time on the show to continue their discussion about the Secure Act 2.0. Laurie goes over what has been finalized in the act for 2023 and looks ahead to 2024 and 2025. She clears up confusion around various topics including the Required Minimum Distributions when inheriting an IRA, changes in retirement plans, the rules and implications of annuities and IRAs, and the importance of tax planning. Laurie also discusses the new Roth IRA rollover option, the penalty reduction for missed RMDs, and the benefits of having both Roth and traditional IRAs.

Laurie discusses: 

  • The Secure Act 2.0 provisions and potential impact on retirement plans
  • What has been finalized in the act for 2023 and what we can anticipate for 2024 and 2025
  • Changes to required minimum distributions, Roth IRA rollover option for 529 plans, and penalty reduction for missed RMDs
  • Explanation of annuities and IRAs, including single life expectancy and joint annuity options
  • Designation of beneficiaries for retirement plans and consequences of not having one or if the designated beneficiary is deceased or not updated
  • Premiums and surcharges associated with Medicare based on adjusted gross income (AGI)
  • And more

Resources:

Connect with Nicole Romito: 

Connect with Laurie Kaplan:

About Our Guest: 

Laurie Kaplan, CPA, has been serving as a trusted advisor to clients for over 25 years, expertly managing and addressing tax and accounting issues within various industries, including manufacturing and distribution, retail, restaurants, real estate, automobile dealerships, and professional service providers. Her background in both accounting and tax, as well as her consultative approach, allows her to partner with clients and develop innovative solutions to address their personal and business needs. She specializes in employee benefit plans, estate and gift tax, like-kind exchanges, and small business start-ups.

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Estate Planning for the Sandwich Generation With Jeff Toner (Ep. 34)

Estate Planning for the Sandwich Generation With Jeff Toner (Ep. 34)

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Estate planning is important for everyone, but why is it especially important for the sandwich generation?

In this episode, Nicole introduces fellow Private Vista colleague, Jeff Toner, CHFC®, RICP®, Partner at Private Vista, to talk about estate planning. While it’s important to get your documents in order before you need them, Nicole and Jeff point out that there are many layers to estate planning and discuss the impact it can have on multiple parts of our lives. They delve into the complexities of managing aging parents’ affairs, the importance of open communication within families, and the need for estate planning documents. Jeff emphasizes the benefits of proactive estate planning, including providing clarity for families, reducing tax burdens, and ensuring wealth preservation for future generations.

Nicole and Jeff go over: 

  • The importance of estate planning, especially for the sandwich generation
  • The challenges that come with managing aging parents’ affairs and the reversal of roles
  • Why estate planning isn’t just a checklist, it’s a lifelong process
  • What key documents are needed for estate planning, in addition to a will
  • The challenges faced by the sandwich generation in estate planning for aging parents and themselves
  • An explanation of power of attorney, wills, trusts, and their importance in estate planning
  • The various benefits of proactive estate planning, including control over decisions, educating and providing clarity for families, and tax reduction
  • And more

Connect with Nicole Romito: 

Connect with Jeff Toner:

About our Guest: 

Jeff Toner, Partner at Private Vista, now almost 40 years into his career, has the luxury of looking backward and reflecting on the journey he has been on. Back in 1984, he didn’t know what a fiduciary was or what a financial planner did. What he did know was he wanted to help people with their finances and achieve their goals in life. He wanted to do it in a way that he wasn’t selling them a product but rather walking side by side with them as they moved toward their dreams. Jeff has been with them in moments of great joy and cried with them during their times of sadness. He has taught and educated them, but more importantly, he has been taught and learned from them as well.

 

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Finding Calmness During the Holidays With Brendan Cournane (Ep. 33)

Finding Calmness During the Holidays With Brendan Cournane (Ep. 33)

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The year-end holidays can be the most stressful time of the year, from family gatherings and tensions to tight deadlines at work.

But what if we told you they don’t have to be?

In this episode, Nicole speaks with professional development coach Brendan Cournane about stress management. They focus on managing the stress that comes with the holiday season and the pressures of closing business deals by year-end. Coach Brendan shares strategies for managing stress, such as practicing mindfulness, meditation, and curiosity. He also emphasizes the importance of open communication and taking pauses in conversations for reflection.

Brendan discusses: 

  • How to manage stress revolving around family and during year-end at work, in preparation for the holidays
  • The benefits of practicing calming exercises like meditation and mindfulness
  • How to approach challenging situations with curiosity
  • How to communicate about pressures at work with family members
  • Techniques for finding calmness and acceptance during the holidays
  • Why silence is okay and the role it plays in healthy open communication
  • How the ribbon method helps him through tough moments why harnessing happy memories
  • And more

 

Connect with Nicole Romito: 

Connect with Brendan Cournane:

About our Guest: 

Brendan Cournane has served as a partner in a national law firm and various roles in the public sector, including general counsel of the Illinois finance authority. He has seen the malaise and burnout effects of what happens when one’s core values do not align with one’s profession. As a recovering lawyer, he is now a professional development coach helping his clients understand why they do what they do in life, and he helps them align their core values with how they work and live a happier life. Brendan is a certified professional coach and leadership dynamic specialist, as well as a long-time practitioner of mindfulness and meditation, and is a firm believer that happiness is a present attitude, not a future condition.

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