Advisors to high net worth families are increasingly serving a multitude of roles and need to have better developed, holistic skill sets. Technical expertise in finance, law or business operations may be why a family initially engages you, however, it may not be sufficient to create long-term value for clients. Trusted advisors develop emotionally intimate relationships with clients, and provide valuable resources to help families solve some of their biggest challenges. Join Arden and Diana in an interactive podcast discussing some of the most pressing issues around physical health, emotional health and family dynamics. Arden and Diana will invite a series of guests to the show who will cover topics ranging from managing client resistance, to addressing dementia with an aging CEO. The podcast will provide informative content and practical tools to help advisors to wealthy families better serve their clients.
Revisited - Supporting Clients in What Matters with Michael & Zack Conway
Wealth advisors are continually nudged into broader elements of their client's lives. It’s up to these financial advisors to fulfill the role in addressing many situations, which helps them build a solid financial plan encompassing all aspects of their client's lives. In this revisited episode of Beyond the Balance Sheet, Michael Conway, founder and CEO of Conway Wealth Group, and Zach Conway, Managing Director of Conway Wealth, join Arden and Diana to explain how they are supporting their clients' wealth in what matters. Michael and Zach discuss establishing a level of trust with their clients and initiating conversations about the non-financial issues in their lives. Finally, as our society becomes more open to discussing mental health, they address the changes they are experiencing in conversations with their clients.
In This Episode:
[01:36] The different ways Conway Wealth Group is addressing the multiple needs of their clients' families.
[04:22] Defining wealth differently - adding emotional and psychological components to defining wealth as well.
[06:49] Building a level of trust with a financial advisor to be able to openly communicate about more aspects in their lives besides just money, as those circumstances can play a role in their financial plan.
[12:13] The percentage of communication they have with clients about health and life satisfaction as opposed to financial matters of market and investment advice.
[16:11] As a culture moving towards more discussions on mental health, do Michael and Zach notice if clients are more willingly open to them as well?
[19:56] Is there ever a client that may be too complicated to take on?
Broadening the term “financial advisor” by discussing all aspects of a client's life - topics ranging from health to personal relationships.
Understanding that wealth is not only measured in how much money a client has, but also measured by emotional and psychological components in that client's life as well.
Starting a conversation by proactively bringing up issues a client may be putting off in their lives and addressing those issues, showing that addressing those issues may actually play a role in their financial plan.
An overwhelming amount of financial advisors now agree that advising on non-financial issues is extremely important.
Society has started to become more open about mental health discussions - how this has changed the interactions Conway Wealth Group has with their clients.
Michael Conway, CFP®, ChFC® is founder and CEO of Conway Wealth Group, a premier, independent financial planning and advisory firm. As a successful and well-respected financial advisor, Michael has spent more than 30 years providing specialized solutions that blend financial and estate planning strategies with open architecture investment management. By steering clients toward Aligning Life & Wealth®, Conway Wealth quantifies not just investment gains, but gains in the categories of life that actually create lasting happiness.
Michael is also the co-founder of the Life & Wealth Network, a platform for advisors to deliver exceptional professional resources to clients in the parts of life that matter most, and the co-founder and chairman of Seeds, a platform for advisors to deliver truly customized investment portfolios that align personal values with financial goals.
Michael is frequently looked to as an expert in financial news media, and has been featured in various publications, including Barron’s, the Wall Street Journal, and Investment News, among others. He was also named one of the 100 Most Influential Advisors by Investopedia.
Zach Conway is the Managing Director of Conway Wealth, a private wealth advisory firm focused on leading families toward aligning life and wealth. Zach is also the co-founder and CEO of Seeds, a tech-enabled asset management platform that empowers advisors to deliver portfolios that align financial goals and per
The Pressure to be Perfect When You're Neurodiverse with Haley Moss
We're thrilled to have Haley Moss join us on this edition of Beyond the Balance Sheet. Haley, the first neurodiverse attorney in Florida, has been a dedicated advocate for individuals with disabilities since the age of 13. Her early diagnosis of autism provides her with a distinctive viewpoint, and she openly shares her personal experience. Haley discusses the “myth of independence” and how autism is like speaking another language. Tune in to gain insight into how she perceives the world through the unique lens of autism.
IN THIS EPISODE:
[1:34] Haley explains how she became a disability advocate at a young age
[4:35] Haley describes her childhood
[7:10] What is the myth of independence?
[9:33] Why is autism like speaking another language?
[11:58] What made Haley want to go to law school? Example of why she chose to work in the field of law she chose?
[15:13] How does Haley describe her uphill battles and her wish that the public was more aware of how the disabled feel?
[19:51] Haley explains the way she wants people to validate her feelings
[22:56] What is the luxury of being average?
[1:18] Haley Moss explains how being a neurodiverse attorney took on a life of its own.
[6:48] Haley discusses what she means by “the myth of independence.
[9:33] Can autism be like speaking another language?
Beyond the Balance Sheet Website
Haley Moss - Website
Haley Moss - YouTube
Haley Moss is a lawyer, neurodiversity expert, and the author of four books that guide neurodivergent individuals through professional and personal challenges. She is a speaker and consultant to top corporations and organizations seeking guidance in creating an inclusive workplace and a sought-after commentator on disability rights issues. The first openly autistic lawyer in Florida, Haley’s books include “Great Minds Think Differently: Neurodiversity for Lawyers and Other Professionals'' (ABA Book Publishing; June 2021) and “The Young Autistic Adult’s Independence Handbook” (Jessica Kingsley Publishers; November 2021). Her articles have appeared in the Washington Post, Teen Vogue, and Fast Company.
Recovery for High Performers With Mike Holloway
Futures Recovery Health provides high-quality mental health services, including a program for the wealthy, on a 10-acre property in Tequesta, Florida. In this episode of Beyond the Balance Sheet, CEO Mike Holloway explains the origins of this family-owned enterprise and the reasons behind its out-of-network model. Mike describes the facility, the factors that make it a premier mental health facility choice, the care provided, and the importance of family involvement. If you or someone you know is suffering from a mental health disorder, this episode is for you.
IN THIS EPISODE:
[1:41] Mike describes his roles in his different family ventures
[4:40] Mike shares the conception of Futures Recovery Health
[8:03] Mike discusses private pay versus network-based insurance
[12:07] Mike talks about serving affluent families and getting them to own their recovery
[19:46] What happens at intake throughout the program
[22:46] Breaking down the stigma of mental health and new programming provided through Futures other ventures
[28:47] Mike challenges listeners to keep an open mind on new approaches to mental health care
[11:29] Futures provides an array of amenities not generally provided by a network-based insurance model.
[17:29] Securing the support and agreement of the patient's family is crucial.
[20:26] A primary case manager and therapist will be with the patient during their entire stay at Futures Recovery Health.
Beyond the Balance Sheet Website
Futures Recovery Healthcare - Website
Michael Holloway currently serves as the President of GMH Ventures, the alternative investment arm of GMH Associates, Inc. GMH Associates was founded in 1985 by his father, Gary Holloway, Sr., and is the parent company for GMH Ventures and GMH Communities, a fully integrated commercial real estate company led by his brother, Gary Holloway, Jr. Michael helped start GMH Ventures in 2008, with Dennis O’Leary and became President upon Dennis’ retirement in 2016. Since its inception, GMH Ventures has made investments in various strategies and companies, including the likes of Security Networks, GMH Mortgage Services, Dynamic Healthcare Services, US Auto & Home, Kinetiq, Spirence, and Futures Recovery Healthcare.
Michael also currently operates as Chief Executive Officer of Futures Recovery Healthcare. Futures is an accredited, dual-licensed behavioral healthcare provider in Tequesta, FL. They offer multiple pathways to recovery for primary mental health and primary addiction with co-occurring mental health diagnoses through evidence-based medicine and research, compassionate alliance, and individualized care. Specializing in treatment for behavioral health, including trauma and chronic pain for adults, Futures uses a holistic approach that integrates somatic medicine, psychotherapies, and physical therapy & wellness services.
Michael brings financial and operational experience and strong leadership capabilities to the team at Futures. His strategic guidance, unwavering commitment to ethics, and family-centric values have propelled Futures to its reputation as a trusted provider, successfully attracting and retaining the industry’s top talent. Michael’s collaborative approach in working with his team has allowed Futures to anticipate the ever-changing need in behavioral healthcare, which has led to innovative programming and interventions for clinical practice that exceed industry standards.
Helping Seniors Navigate the Real Estate Market with Adam Hayes
When an older adult needs to sell their home, they should seek out a real estate agent holding a Seniors Real Estate Specialist (SRES) designation. In the latest episode of Beyond the Balance Sheet, Adam Hayes, owner of Milestones Realty, explains the benefits of engaging an agent holding the SRES distinction. He also sheds light on the challenges older adults might overlook in today's real estate market. If you are considering selling your home, this is an essential episode you won’t want to miss.
IN THIS EPISODE:
[2:04] Adam describes the difference between a Realtor and a Seniors Real Estate Specialist
[7:59] Adam compares a home to a family member
[9:33] Why older adults need help navigating the real estate market
[14:12] How AI can play a role in deceiving a seller
[21:50] Adam discusses knowing who the decision-maker is
[24:20] Additional ways to protect your client
[29:38] There needs to be a good relationship between the agent and the owner, and getting a qualified agent
[34:29] What Adam has learned over the years
[20:01] Bad actors can steal items from a listed home if an agent is not careful what pictures they include in a listing
[22:12] You must find out who the decision-maker is at the onset of the listing process
[24:44] Pay special attention to the signage used on vehicles coming to the home. Those signs may alert bad actors.
Beyond the Balance Sheet Website
Milestones Realty - Website
Milestones Realty - Facebook
Adam Hayes - LinkedIn
Adam Hayes - Twitter
Adam Hayes has been a Seniors Real Estate Specialist ® since 2008 and the Broker-Owner of Milestones Realty. Founded in 2009, Milestones is a trusted resource for many Elder Law Attorneys. It occupies an unexpected space among real estate brokerages as they focus on serving and advocating for Older Adults and Special Needs Clients.
The genesis for Milestones was the unpleasant experience of rescuing my Dad from an unsafe living situation in 2001. Little did I know that my negotiating and people skills would be demanded just for the seemingly simple act of moving Dad into a Skilled Nursing Facility.
My wife and I spent three months and several thousand driving- miles dealing with concerns, repairs, clean-outs, and other assorted loose ends. Years later, I thought, I’d been in training my whole adult life for that Olympian task, and nothing truly prepared me for the energy drain of helping him.
I bring an “insider’s empathy” to the equation and meet clients where they are emotionally and physically with unwavering respect for their tolerances and abilities.
How to Talk Honestly about Suicide with Larry Sprung
Larry Sprung, founder of Mitlin Financial, dedicates his free time to raising awareness around mental health and suicide. He dedicated more than 12 years to serving on the National Board of the American Foundation for Suicide Prevention (AFSP). In this impactful episode, Larry will share why this cause is close to his heart and provide guidance on supporting a friend or loved one dealing with depression. Addressing suicide can be challenging but shouldn't be sidestepped. This episode is a valuable resource for those affected by these issues.
IN THIS EPISODE:
[2:10] Larry sites his own life and background as making him uniquely qualified to serve families both financially and with mental health awareness
[3:51] Larry shares his family history
[6:52] The stories of why individuals commit suicide
[9:08] Larry explains why conversations with those who struggle may save their lives
[14:10] Larry suggests a resource to listeners who have been inspired by listening to this podcast and invites people who struggle to do the “walk”
[16:45] Larry describes what brings him joy
With medication, it is possible to prevent suicide, and individuals can lead long and productive lives after making an attempt.
Daily self-reflection of joyful moments is good for the soul as you relive those moments.
You can be there for an individual, even by telephone, to walk people through difficulties and support them with a conversation on the phone when you can’t be present.
Beyond the Balance Sheet Website
Family Wealth Report - Website
American Foundation for Suicide Prevention - Website
Mitlin Financial, Inc
Lawrence “Larry” Sprung, CFP®, is a husband, father, entrepreneur, author, and mental health advocate.
In 2004, he founded Mitlin Financial, Inc., naming the firm memory of Larry’s wife’s grandfather, Mitchell, and his mother, Linda. During his career, Larry has found that many industry terms and concepts can seem confusing to outsiders. That’s why he works with the families he serves to break down complex financial topics into easy-to-understand concepts.
Larry is the author of the Amazon Bestselling book “Financial Planning Made Personal” and the host of the Mitlin Money Mindset™, a podcast that reminds you to ask yourself, “What did you do today that brought you joy?®.”
In recognition of Larry’s significant contributions to his profession, he has received several awards. In 2021, Larry was named to the Investopedia 100 Top Advisors 2021 and was even more humbled to make their Top Ten list for 2022.
Outside the office, one of Larry’s greatest passions is raising awareness for mental health. He spent over 12 years serving on the National Board of the American Foundation for Suicide Prevention (AFSP) and sits on its financial and investment committees. With his wife, Denise, he has raised more than $1.7 million for the organization through the Keith Milano Memorial Fund. The fund was created in memory of his brother-in-law.
Larry values his family tremendously, and his desire to do right by his wife and two sons drives him in and out of the office.
Revisited - Healing Through Giving Back: Families Investing in Behavioral Health with Nicholas MacPhee
In this revisited episode of Beyond the Balance Sheet, we are joined by Nicholas MacPhee, an active philanthropist who has worked in nonprofits for over 20 years. First, Nick explains how he started working in the field of philanthropy with mental and behavioral health. Mental health resources and support services are needed now more than ever; Nick describes how he finds exemplary philanthropists to invest in innovative and unique companies. Tune in as Nick speaks about the importance of scale in philanthropy and why this generation is more active in philanthropic activities.
IN THIS EPISODE:
[01:00] How Nick started working in the field of philanthropy with mental and behavioral health.
[07:15] Resources and support services are crucially important now more than ever. Nick explains how he finds philanthropists to invest.
[13:10] Nick speaks about the importance of scale in philanthropy and reveals some of the edgier investments he's seen from large-scale foundations.
[20:00] Why this generation is more active in philanthropic activities.
Americans are becoming more open about mental health, and young generations understand the importance of philanthropic activities that support mental health concerns.
Often as a philanthropist, it’s easier to donate to your local university or to local nonprofits that are using innovative approaches.
More philanthropists are always welcome in the world: bring in your expertise, bring in your curiosity, and bring in your money.
Thanks to research, you can now intervene earlier when somebody is starting to show some symptoms of mental health decline. For instance, the onset of depression may occur eight years before significant interventions are necessary.
Nick MacPhee has been an active philanthropist and worked in non-profits for over 20 years. A former V.P at Microsoft, he spent 20 years in the business sector. After leaving Microsoft, he helped start a mentoring program for at-risk youth, worked at two family foundations, and served on many boards. He's currently on the Boards of Eisenhower Medical Center in California and Pioneer Human Services in Washington. With his wife who is a family therapist, he co-founded the Behavioral Health Roundtable, a learning forum for philanthropists on mental health issues and solutions.
So Helpful for Families
This podcast addresses things that really need to be normalized in conversation to help loved ones (and fellow colleagues/clients/employees, etc.) struggling with behavioral and mental health issues and their greater impact. Reducing stigma is so important for healing and the topics Arden