50 episodes

Interviews with the Next Generation of Experts, Commentators, Entrepreneurs and Creatives in and around wealth and the wealth management industry. From Frazer Rice, noted fiduciary expert, operator of frazerrice.com and author of "Wealth Actually".

"Wealth Actually" with Frazer Rice "Wealth Actually" with Frazer Rice

    • Business
    • 5.0 • 17 Ratings

Interviews with the Next Generation of Experts, Commentators, Entrepreneurs and Creatives in and around wealth and the wealth management industry. From Frazer Rice, noted fiduciary expert, operator of frazerrice.com and author of "Wealth Actually".

    EP.97 THE FUTURE OF MUSIC AND FINANCE with DAVID PULLMAN

    EP.97 THE FUTURE OF MUSIC AND FINANCE with DAVID PULLMAN

    This latest podcast is special because it harkens back to 2000 when I wrote a paper in law school about the use of securitizations to disrupt the music industry.  







    I mused about the disruption of the music industry and the demise of the traditional way of doing business.  I wasn’t far off!







    * The music industry has undergone enormous changes with the advent of streaming. * The demand for content has never been higher with new ways to monetize content.* Add to that the fascination of NFT’s and the new attention into the divisibility of artists rights. * Finally, with rock-bottom interest rates and an insatiable hunger for non-correlated returns, music rights have become a popular asset class for investors.







    To help think about this, I went to the source, DAVID PULLMAN.







    David is a pioneer in music industry finance. His firm THE PULLMAN GROUP covers many aspects of the music industry including publishing and mechanical rights, royalty management, loans, advances and securitizations.







    We get into:







    * Pullman's background in finance and investment banking* What went into the Bowie transaction and why it was contemplated in the first place * The challenges of working with complication* What the later transactions with artists like James Brown and Holland Dozier Holland were like* How streaming services like Napster and then iTunes, Pandora and Spotify changed the dynamics* How the Bowie Bond has come out the other side and is relevant to new players in the industry.







    (For some context into the Bowie Bond and the concept of Intellectual Property Securitization, here is Quick Synopsis from INVESTOPEDIA and a Summary from WIKIPEDIA)







    We also talk a lot about what it was like to work with someone like David Bowie. Bowie himself was not only the driver of musical trends, he was a savvy businessman, futurist and technologist as well.







    His vision for the scope and power of the internet and its impact on the accessibility of music and the music business itself was extraordinary. Listen here:









    https://www.youtube.com/watch?v=JPpiYG9_058&t=1s









    Finally, and some of the issues with future music financings and his thoughts on the impact of NFT’s.







    Without further ado . . .







    DAVID PULLMAN.







    As an extra bonus . . . .







    Here is a 5 minute outtake of the podcast with David Pullman- in this morsel, we talk about his experience with David Bowie and how the song “Fame” represented a major pivot in Bowie’s career AND Pullman’s!









    https://frazerrice.com/blog/preview-david-pullman/

    The bonus 5 minute outtake on working with Bowie and the gift of "Fame"







    Finally, here is a list of the 2022 GRAMMY NOMINEES:







    https://nypost.com/2021/11/23/grammy-nominations-2022-full-list-o...

    • 46 min
    EP.96 USING THE COLLEGE ADMISSIONS PROCESS FOR INTERGENERATIONAL DISCUSSIONS with LINDSAY TANNE

    EP.96 USING THE COLLEGE ADMISSIONS PROCESS FOR INTERGENERATIONAL DISCUSSIONS with LINDSAY TANNE

    The College Admission season is in full swing and it brings it usual stresses.







    However in the world of intergenerational planning, it’s a unique opportunity for families to discuss their core values and the development of their kid’s personal narratives.  It is chance for families to collaborate on a life changing decision around the kids future- a process in which the engaged kids have a vested interest! Finally, it’s often the first instance where kids experience the judgment of their personal narratives by the outside world.







    To help us dive deeper into this concept, I’m going to speak with LINDSAY TANNE







    Lindsay is the Founder and CEO of LOGICPREP.







    As a leading College Admissions Advisor, Lindsay helps students around the world develop and tell their stories and identify their best-fit schools. Over the past decade, she and her team have helped thousands of families successfully navigate the college application and higher education landscape.







    There's been so much news coverage around college admissions and how last cycle was the most competitive one ever. Is it really as crazy out there as it seems? 







    * Yes and no...* More applications for the same number of spots - which means lower acceptance rates are a reality* Imagine you were applying to Columbia 2 years ago - you were one of 40,000. Well, last admissions cycle, you’re up against 60,000 other students. * At MIT, for example, applications were up 66%* Simply put, at highly selective schools in particular, the pond expanded* It’s not that you’re a smaller fish* It’s just that the pond got bigger* But there’s one thing in particular I want to point: only 2.4% more students applied BUT applications were up 11%* Basically, this means that the increase came from students applying to more schools rather than more students applying overall * Less data available * Transcripts were less reliable in this last admissions cycle as education moved online* Additionally, during the pandemic, almost every school had to go test optional - meaning they wouldn’t require the SAT/ACT - as a temporary accommodation since the tests kept getting cancelled * As a result, students did not feel constrained by test score ranges and more students were open to the possibility of applying to highly selective schools than ever before* In a sense, it’s like the lock on the front gate appeared to be loosened at the most competitive universities - since test scores no longer stood as a barrier to entry -more students felt emboldened to apply* Ultimately, not as full of surprises as people might think (90% acceptance rate for LP to 1 of top 3 schools)* Why? * The criteria for evaluation hasn’t fundamentally changed, but the weight assigned to each category has * More subjective, less quantifiable* Test scores were optional* Transcripts were less reliable - online school, pass/fail * Plus, with limitations on extracurriculars, there were even fewer avenues to demonstrate leadership and passion







    What actually counts in the college application process? How do you help your child stand out? 







    * Basically, the college admissions process is founded upon three pillars: * Academic Record - transcript and its rigor, what classes you take and your grades * Standardized Test Scores - SAT/ACT * Personal Narrative - your activities, how you spend your summers, teacher recommendations, what it is what makes you who you are* 2020, of course, was an unusual year - but things are changing slightly….* These pillars still stand (though some might be shakier than others)&...

    • 24 min
    PREVIEW: BOWIE BOND INVENTOR and FINANCE PIONEER, DAVID PULLMAN

    PREVIEW: BOWIE BOND INVENTOR and FINANCE PIONEER, DAVID PULLMAN

    Here is sneak peak of my podcast with David Pullman- in this outtake, we talk about his experience with David Bowie and how the song “Fame” represented a major pivot in Bowie’s career AND Pullman’s! A fascinating tidbit into Bowie's prescience- A must listen for the NFT crowd.







    The full interview will drop shortly . . .







    DAVID PULLMAN









    https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

    • 6 min
    EP.95 SEARCH FUNDS AND SMB with STEVEN RESSLER

    EP.95 SEARCH FUNDS AND SMB with STEVEN RESSLER

    You can’t go two minutes without hearing about the allure of venture capital and private equity or the cult of entrepreneurship and the start-up.







    However, these things are hard!  Venture and P/E require large pools of patient capital, deep expertise and long time horizons. Entrepreneurship requires a unique angle, force of will, operational deftness and a 24/7 personal commitment to success.







    This has led to the development of SEARCH FUNDS – pools of capital designed to invest in small and medium sized businesses (SMB's) businesses that have gotten off the ground but aren’t exercises in organizational change.  STANFORD has done extensive work investigating their attractiveness. These small and medium-sized businesses stretch across many industries and usually have annual revenues of between $200,000 and $20 million.







    These businesses are past the start-up stage and usually profitable but could use help in professionalizing certain operating aspects.







    This has attracted the attention of investors looking for outsized returns and many entrepreneurs looking to run a business without the “startup experience.”







    Enter STEVE RESSLER-







    Steve is a serial entrepreneur with 3X exits in GovTech and Software as a Service (including his sale of his first business to Vista Partners). His work has taken him deep into the SEARCH FUND and SMB operator space. He has lots to tell us about both ends of the “search fund” experience, the SMB phenomenon and where it is going. We also cover some great work he's doing with Veterans in the operator space.







    Background







    Experience as a founder







    Having an early exit







    Software and Government Services-







    What are the competitive advantages/niches you're looking for here?







    The appeal of SMB space?







    Running a Fund vs being an Operator?







    Expected returns?







    What is the timeline / exit strategy for your investments?







    How do the family dynamics differ in search investing from starting the business?







    When buying the businesses how do you deal with the personal dynamics?







    Do you get involved in the family dynamics?







    How do you analyze that?







    What's next?







    Involvement with Veterans programs: SEARCHACQUIRE







    How do we keep in touch?







    STEVE RESSLER TWITTER







    STEVE RESSLER NEWSLETTER







    STEVE RESSLER WEBSITE

    • 24 min
    EP.94 QUAN HUYNH: A LIFE SENTENCE FOR MURDER, NOW AN AUTHOR AND ENTREPRENEUR

    EP.94 QUAN HUYNH: A LIFE SENTENCE FOR MURDER, NOW AN AUTHOR AND ENTREPRENEUR

    Quan is the author of his memoir “SPARROW AND THE RAZOR WIRE”







    His is an amazing story of redemption, the importance of second chances and the power of entrepreneurship.









    https://www.amazon.com/Sparrow-Razor-Wire-Finding-Sentence-ebook/dp/B08F34LBXL









    Quan spent twenty-two years in and out of correctional institutions, including a life sentence for murder.







    He was paroled 2015 and created his first company six months later. The following year, he received the Peace Fellowship Award for his work with the Alternatives to Violence Project.







    He is the post-release program manager for Defy Ventures, a nonprofit helping those with a criminal past transform their lives through the journey of entrepreneurship. (I first met Quan when participating in an entrepreneurship program with DEFY VENTURES at Kern Valley State Prison).







    Weâ€ll be talking about:







    Quan's Story







    * His Vietnamese background and his early path to gangs and run-ins with the law * The Role of Taking Responsibility* The Horrors of Prison* Getting Out and the Transition to "Civilian Life"* Rebuilding everything* His company and his work with Defy Ventures . . .* Writing his book* The problems with the criminal justice system* The path to a better life through entrepreneurism







    And whatâ€s next for Quan . . . . (A movie deal I hope!)







    Meeting Quan changed my worldview (More about my visit to KERN VALLEY STATE PRISON here). I hope you learn something from Quan's experience and reconsider the role of the criminal justice system in our society.







    More About Quan







    Quan on PBS NewsHour









    https://www.youtube.com/watch?v=CNuSFwR5wzw









    His uplifting story on Google Talks:









    https://www.youtube.com/watch?v=WkhlbGrYTAo









    How Do We Stay In Touch?







    Website: www.quanxhuynh.com







    Twitter: @quanxhuynh







    Facbook: QUANXHUYNH







    Linkedin: QUANXHUYNH







    IG: @quanxhuynh









    https://www.amazon.com/Wealth-Actually-Intelligent-Decision-Making-1-ebook/dp/B07FPQJJQT/

    • 34 min
    EP.93 NY TAXES AND SNOWBIRD PLANNING – MARK KLEIN

    EP.93 NY TAXES AND SNOWBIRD PLANNING – MARK KLEIN

    New York City residents have the highest State and City tax burden in the country (it's over 15% at the top level, recently overtaking California). It's no surprise that New Yorkers are constantly strategizing around their tax burden and potential moves to other states- especially for high earners or those looking to sell a business.







    But a lot of New Yorkers suffer from 'advice by cocktail party" and many misconceptions float around as people assume that being out of NY for more than 183 days is "enough". Getting out of New York's tax grip is a lot more complicated than that.So weâ€re going to one of the top experts in the field, MARK KLEIN of HODGSON RUSS.Mark is Partner and Chairman of the Firm and concentrates his practice in New York State and New York City tax matters. He has more than 35 years of experience with federal, multistate, state and local taxation –He may be best known for his public speaking on tax topics. Mark splits his time between the Firm's New York City and Buffalo offices.For New Yorkers listening, you are going to learn a lot on how to arrange your affairs when for state tax purposes. We're also going to talk a little bit about the "Convenience Rule" which is impacting a lot of New Yorkers who have "relocated" due to Covid.What do New Yorkers face?-Income and Capital Gains Tax that is the highest in the nation (Over 15%)-Estate TaxWhat are the typical options when reducing the tax bill? What do you have to show?When moving to a non-tax state, what does a client have to think about?







    What about the new normal with COVID? What if I'm not working in NYC anymore?







    Mark and his team at HODGSON neatly sums up the issues here:







    https://www.hodgsonruss.com/what-to-expect-in-a-new-york-residency-audit.html







    WHAT TO EXPECT IN A RESIDENCY AUDIT







    A New York State residency audit is one of the most difficult, intrusive, and document-intensive of all personal income tax audits. And the New York Tax Department has one of the most sophisticated and aggressive residency-audit programs in the country. This handbook follows a question-and-answer format that should tell you everything—ok, almost everything—you need to know about what happens in these audits. Youâ€ll have to call us if you want to know everything!







    WHAT IS A RESIDENCY AUDIT?







    A residency audit is designed to determine whether you correctly filed as a nonresident or part-year resident of New York. Because New York residents are subject to tax on their worldwide income while nonresidents are subject to tax only on that portion of their income attributable to (“sourced to”) New York, the difference in tax liability can be significant, particularly if you have substantial investment income.







    If there is a possibility that you were also a New York City resident, the difference in potential tax can be even more significant since New York City residents also pay tax on their worldwide income while New York City nonresidents pay no tax to the City at all, even if they work there.







    The audit will generally cover three areas. First, the auditors will focus on the first residency test, called the “domicile” test. Second, the auditors will look to the alternative residency test, called “statutory residency.” And finally, even if you are able to establish nonresidency, the audit will also examine whether you properly “allocated” your sourced income to New York on your tax return.







    We usually donâ€t see the New York auditors examining other under...

    • 30 min

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17 Ratings

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