8 episodes

Welcome to Path to Abundant Living, where we address pertinent topics surrounding wealth management to help better position yourself, your family, and your business for success.

Listen as Scott Morrison and Matt Nordmann, Managing Partners of Morrison, Nordmann & Associates, tap into their wealth of financial experience and address various strategies and services they utilize for their clients.

So sit back, relax, and enjoy intriguing financial conversations that place you on path to abundant living and help you navigate the rest of your life.

Path to Abundant Living Scott Morrison and Matt Nordmann

    • Business
    • 5.0 • 1 Rating

Welcome to Path to Abundant Living, where we address pertinent topics surrounding wealth management to help better position yourself, your family, and your business for success.

Listen as Scott Morrison and Matt Nordmann, Managing Partners of Morrison, Nordmann & Associates, tap into their wealth of financial experience and address various strategies and services they utilize for their clients.

So sit back, relax, and enjoy intriguing financial conversations that place you on path to abundant living and help you navigate the rest of your life.

    Path to Abundant Living - Episode 8 (Five Mistakes Affluent Homeowners Make)

    Path to Abundant Living - Episode 8 (Five Mistakes Affluent Homeowners Make)

    Affluent families and individuals often have an overwhelming amount of things on their plate, making it easy to overlook issues tied to one of their largest assets. Our homes are not only a massive asset, but they are also important to our financial security and personal sense of stability.
    In the latest installment of Path to Abundant Living, Matt and Scott are identifying the five critical mistakes that affluent homeowners are making today. Whether it be a lack of adequate coverage, or ensuring the right items are covered under different policies, affluent families are regularly making costly mistakes!
    This is an episode packed with useful information to help mitigate risk within your portfolio and bolster your financial plan overall. So sit back, relax, and enjoy yet another thought-provoking episode!
    Timecodes:
    0:06 - Overview on the topic of the day
    1:44 - Why homeowners should be doing a financial check up on their homes
    3:20 - The five most significant mistakes homeowners are making these days
    5:30 - The most concerning issues with making these mistakes
    7:30 - How someone can tell if they have a lack of adequate coverage
    8:46 - Issues for families that have more than one home
    10:30 - The importance of listing LLC's on a homeowners insurance policy
    12:16 - Issues related to homes with unique architecture or building materials
    14:20 - Issues related to valuable collections and heirlooms
    17:20 - Next steps for those looking to take action and mitigate these potential risks
    20:13 - Closing remarks


    Connect with Scott Morrison and Matt Nordmann:
    https://morrisonnordmann.com/ (Website)
    https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)

    • 22 min
    Path to Abundant Living - Episode 7 (What is Wealth Planning, Really?)

    Path to Abundant Living - Episode 7 (What is Wealth Planning, Really?)

    One mistake that can be so easy to make is focusing on one aspect of our financial life. In doing so, we can miss opportunities as well as take on unnecessary levels of risk.
    In the latest installment of Path to Abundant Living, Matt and Scott explore methods to avoid that problem and address the full range of financial concerns through wealth planning.
    Ultimately, it comes down to analyzing your full financial picture! While investment management plays a role in this conversation, your advanced needs are also considered, like wealth protection, tax mitigation, estate planning, and charitable giving.
    Sit back, relax, and enjoy another enlightening episode that provides a complete overview on wealth planning and its importance.
    Timecodes:
    0:06 - Overview on the topic of the day
    1:52 - What is wealth planning?
    3:53 - A common technique across wealth planning efforts
    6:03 - The various types of trusts that exist and why they're a nice wealth planning tool
    7:40 - How life insurance is also a unique tool within the wealth planning toolkit
    9:59 - How might wealth planning address concerns for business owners?
    13:21 - What someone should be looking for in a wealth manager
    14:05 - A deeper dive into these principles that comprise a great wealth manager
    19:44 - Closing remarks


    Connect with Scott Morrison and Matt Nordmann:
    https://morrisonnordmann.com/ (Website)
    https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)

    • 24 min
    Path to Abundant Living - Episode 6 (Do You Have What it Takes to Create Significant Wealth?)

    Path to Abundant Living - Episode 6 (Do You Have What it Takes to Create Significant Wealth?)

    In the latest installment of Path to Abundant Living, Scott and Matt take a different approach to their typical conversations and address the best practices for generating a significant level of wealth.
    There's no denying that entrepreneurship is the most effective method of generating wealth, but it takes more then a great business plan. Matt and Scott identify and take a deep dive into the four drivers of success: a commitment to achieve, a quality business model, an ability to build strong relationships, and a willingness to engage with elite wealth planners.
    Additionally, Scott and Matt share their own personal experiences with entrepreneurship and the lessons they learned along the way!
    So sit back, relax, and enjoy an intriguing conversation in this special edition of Path to Abundant Living.
    Timecodes:
    0:04 - Welcome to the show and overview on the topic of the day
    2:00 - Entrepreneurship is one of the most effective ways to generate significant wealth
    3:08 - The four best practices of the most successful entrepreneurs
    5:06 - The commitment to achieve success
    7:14 - The commitment itself isn't enough and action needs to be taken
    9:10 - The importance of developing a high-quality business plan
    11:33 - The ability to build powerful relationships and its impact on wealth creation
    13:46 - Insight on building and maintaining a high-quality team around you
    16:03 - Why working with the right professionals is so important to elevate a company's status
    19:58 - Scott and Matt share experiences from their own relationship with entrepreneurship
    22:47 - Summarizing how entrepreneurship is the most effective way of generating wealth
    25:18 - Closing remarks


    Connect with Scott Morrison and Matt Nordmann:
    https://morrisonnordmann.com/ (Website)
    https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)

    • 26 min
    Path to Abundant Living - Episode 5 (The Benefits of a Family Constitution)

    Path to Abundant Living - Episode 5 (The Benefits of a Family Constitution)

    One of the biggest concerns facing affluent families is how to manage their wealth so that it achieves many goals. Their focus could be continuing to grow their wealth as it is transferred to younger generations, or aligning the use of that wealth with the values and ideals the family holds dear, or even protecting that wealth from creditors and others who might seek to take it unjustly.
    Often the best place to start, is to ensure that your family members are aligned when it comes to key issues. A family constitution can be a great way to get that process going.
    In the latest installment of the show, Scott and Matt explore the benefits of establishing a family constitution to ultimately promote clarity and harmony when it comes to managing family wealth.
    Timecodes:
    0:05 - Welcome to the show and overview on the topic
    2:20 - The types of challenges arising when families with wealth work together to manage their assets
    4:30 - Specific wealth-related issues with families possessing significant assets
    5:43 - What families can do to create and maintain harmonious relationships surrounding their wealth
    7:07 - How a family constitution works and promotes better relationships across the family
    8:48 - How a family would go about drafting this document
    11:22 - Who from a given family should be involved in discussing these issues
    13:17 - Is this a legal and binding document?
    15:00 - How does this document remain relevant over time?
    16:35 - Who families can turn to for help with this process
    18:47 - Summarizing the benefits of the family constitution
    20:59 - Closing remarks


    Connect with Scott Morrison and Matt Nordmann:
    https://morrisonnordmann.com/ (Website)
    https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)

    • 22 min
    Path to Abundant Living - Episode 4 (Should You Be An Executor?)

    Path to Abundant Living - Episode 4 (Should You Be An Executor?)

    In the latest installment of Path to Abundant Living, Scott and Matt address a new topic, surrounding the roles and responsibilities of an executor.
    When faced with this role, oftentimes, individuals are unaware of the full extent of responsibilities that accompany this role. Additionally, an executor faces an apparent level of personal risk when assuming this position. Listen as we dive into the duties of the role, as well as the assortment of variables to consider.
    So sit back, relax, and enjoy a thought-provoking conversation that will leave you considering whether or not you're suited for the role of an executor.
    Timecodes:
    0:05 - Overview on the topic of the day
    1:38 - What is an executor?
    4:35 - There should be careful consideration before accepting the position of an executor
    6:04 - What is involved in finding and filing the will
    7:45 - The challenge of locating all of the assets in a given estate
    9:56 - Advice for executors currently searching for the estate's assets
    12:04 - An executor's role of paying out existing debts or liabilities
    14:24 - People are often surprised when they learn of the roles and responsibilities of the position
    16:04 - The personal level of risk involved in being an executor
    20:02 - You must keep detailed records as an executor
    23:20 - Closing remarks


    Connect with Scott Morrison and Matt Nordmann:
    https://morrisonnordmann.com/ (Website)
    https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)

    • 24 min
    Path to Abundant Living - Episode 3 (Preparing Heirs for Their Inheritance)

    Path to Abundant Living - Episode 3 (Preparing Heirs for Their Inheritance)

    In the latest installment of Path to Abundant Living, Scott and Matt explore the complex nature surrounding inheritances. The big question surrounding this topic is: Are your heirs ready to deal with the wealth you may be planning to pass on to them someday?
    It's an unfortunate fact that inheritors often struggle with their windfalls in a way that can be hazardous to the overall wealth. It takes proper planning and clear communication to alleviate any potential problems that could occur with the inheritance itself, as well as the beneficiaries' spending habits afterwards.
    We all understand the general process behind inheritances, but this episode unveils the intangible elements that come into play, especially when a significant level of wealth is being transferred.
    So sit back, relax, and enjoy another enlightening conversation that sheds light on a topic we all thought we knew.
    Timecodes:
    0:05 - Introduction and overview on today's topic
    1:24 - Why inheritances overall can be a double-edged sword
    3:50 - The internal and external problems beneficiaries can face during this process
    5:55 - Where to begin with addressing these issues and help prepare the heirs
    7:15 - What affluent families are doing and not doing when it comes to preparing heirs
    9:00 - Where to begin with fostering a level of financial intelligence with future heirs
    11:26 - An individual's. current view and actions with wealth can tell you a lot
    14:32 - Is there an approach that's more appealing to educate an heir?
    17:29 - Additional elements family matriarchs and patriarchs should be considering
    20:10 - These education efforts are universal and shouldn't change depending on amount of wealth
    22:00 - Who families can turn to for help with this entire process


    Connect with Scott Morrison and Matt Nordmann:
    https://morrisonnordmann.com/ (Website)
    https://www.linkedin.com/in/scott-morrison-1ab16a91/ (LinkedIn)

    • 26 min

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