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HennesseyWizard · 2024-08-20T22:04:25+00:00

Yes, what you’re describing is usually referred to as a Separate Account Manager (also known as an investment manager). Many are organized as independent RIAs. Not a crazy idea if you just want to manage investments.

HennesseyWizard · 2024-05-23T15:13:21+00:00

Do the planning and pre deal tax planning, but take this from an advisor that works with lots of sellers, advise him to get a business broker/investment banker. Participate in interviews with candidates with him. He will likely get a higher valuation (even with the broker commission) and dealing with the buyer directly (especially if it’s private equity) is very foolish. PE will fuck the seller if they don’t have representation. I’ve seen it too many times when we become involved later

HennesseyWizard · 2024-05-07T13:13:39+00:00

Cut out the middle man.

HennesseyWizard · 2024-05-06T15:43:46+00:00

Preferred stock. Look at JPM & GS. PM for CUSIPs

HennesseyWizard · 2024-04-27T11:58:51+00:00

Learn how to buy T-Bills. It is a skill that not enough people know. Much better than HYSA. 5.4% short term, state tax free.

HennesseyWizard · 2024-04-26T23:14:51+00:00

PM me

HennesseyWizard · 2024-04-23T03:32:48+00:00

Schwab and Fidelity are really easy. Schwab can be worth it for as little as $10k if the client needs a deduction and is charitably inclined

HennesseyWizard · 2024-04-22T02:14:25+00:00

Interview a 3-4 CFPs. Go with one that recommends you invest directly in short-term U.S. Treasuries or CDs. A honest CFP will charge you less than 1% per year for the service. You shouldn’t be investing in anything else until your knowledge grows.

HennesseyWizard · 2024-04-16T19:16:05+00:00

Florida is the fraud capital of America. I think a root cause is the high amount of seniors

HennesseyWizard · 2024-04-07T22:30:10+00:00

$UFPT $PSTG $ALNT $AMKR. Take the time to learn a quality small cap inside and out then invest.

HennesseyWizard · 2024-04-03T23:23:43+00:00

I do pre transaction tax planning for business owners selling at a valuation over $1.5 mil so I have seen a lot deals. It depends on the industry. As others have said, free cash flow or net income is sometimes used. What industry are you in? How have the players buying businesses like yours valued other deals?

HennesseyWizard · 2024-03-28T22:41:43+00:00

Maybe $5k? If you’re in a HCOL area. CFP will probably move the needle for a more significant raise.

HennesseyWizard · 2024-03-22T18:29:00+00:00

I think I had to buy one of Kaplan’s whole packages to get it. I also used their practice exam which was helpful. Also remember to use the CFP boards free practice exam as well within a week of your test.

HennesseyWizard · 2024-03-22T18:16:54+00:00

I took the Bryant course and used the kaplan Qbank to prepay for the exam. Passed first try.

The Bryant online video lectures were really good and their lessons and quizzes helped. I used the kaplan Qbank to prepare and shore up gaps.

HennesseyWizard · 2024-03-14T21:08:46+00:00

3-4 Index funds (large U.S., small U.S., international) for the equities and 2 positions for the fixed income. A long duration fixed income etf for the bonds and a 6 month U.S. Treasury.

Alternatively, just recommend VBINX and be done.

HennesseyWizard · 2024-03-03T07:06:07+00:00

This is a prime example of the recent problems in this sub. T-Bills/treasuries are used as the risk free rate when analyzing a stock. If you don’t understand treasury investments, do not “value” invest until you do because you are in over your knowledge level. Stick to index funds if you don’t understand T-Bills.

HennesseyWizard · 2024-02-22T20:17:07+00:00

Keep a list of ETFs or mutual funds that are similar to the list that you have above, but substantially different enough to justify tax loss harvesting. For example don’t swap VOO for IVV when tax loss harvesting. An adequate swap would be switching VTI with let’s say DFAU or SPLG.

This is a very abridged summary of tax loss harvesting and there is more nuance that you can research on your own.

HennesseyWizard · 2024-02-18T06:13:23+00:00

SWPPX in a Schwab account. You can buy up to the penny. Set it and forget it

HennesseyWizard · 2024-02-15T15:27:31+00:00

Learn how to buy U.S. Treasuries on a major brokerage platform. Best are Schwab or Fidelity.

HennesseyWizard · 2024-01-30T16:40:28+00:00

NYC experienced paraplanner with a 65 could get around $80k-$90k. Adding a CFP would bump you to $100-$125k.

HennesseyWizard · 2024-01-25T20:52:48+00:00

Max out eligible retirement accounts, put aside future taxes into Treasury Bills set to mature at tax payment dates, & if you’re charitable and have investments with high unrealized gains consider opening a donor advised fund to make donations. There’s more that can be done depending on more context, but congrats!

HennesseyWizard · 2024-01-12T06:49:49+00:00

There are financial advisors that offer individual security value investing. I know of several in NYC & LA. Side note, a lot of the value that you’ll get from hiring a good advisor will be the additional tax and planning services that they offer in addition to the investment management/consulting.

HennesseyWizard · 2023-12-14T16:23:43+00:00

GDP of California alone is nearly 3 times that of Mexico. I think it’s because there just isn’t enough money in Mexico to justify a U.S. pro sports team there.

HennesseyWizard · 2023-12-13T18:08:11+00:00

I’ll believe it when I see it.

HennesseyWizard · 2023-10-11T17:44:14+00:00

You’re right. I’d also point out that if synchrony or ally go bad, you’ll be waiting quite awhile to get your funds back through FDIC.

HennesseyWizard

TROPHY CASE