LIBERATED WEALTH Archives - Centura Wealth Advisory

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Centura’s Company Culture: Hear From Our Team

At Centura, we’re proud of our team and company culture. Why?

Everyone on our team has their own North Star. They center around serving our clients, our community, and their aspirations.

Wondering what our team has to say about Centura? We’ve already asked. Read on to learn more about us, what we do, and what our culture is like here at Centura Wealth Advisory.

Why Centura Wealth Advisory?

Chris Osmond, Chief Investment Officer at Centura Wealth Advisory, describes what makes Centura different from our competition.

Watch the video below or read on to learn more.

There are many reasons why advisors choose to join a new firm.

Chris remarks, “Of course, economics plays a role in their decision. You need to be able to care for your family, retire someday, etc. But, there are also a few other factors that lead advisors to join a new firm.”

One of the major factors Chris Osmond describes is “the opportunity cost of spending two-thirds of your time doing the administrative work that no one wants to do or worry about software contracts that need to be negotiated. The operational and logistic tasks take away from actually producing and spending time doing what you do best.

The business development area is where advisors typically shine; bringing in new clients, adding value, and enriching clients’ lives. At Centura, we provide infrastructure to help alleviate the cumbersome administrative tasks for our advisors, so they can do what they do best.”

What is Your Favorite Part of Centura’s Company Culture?

Click the link or read on to hear about Samantha’s favorite part of Centura’s company culture.

According to Samantha Lawrence, Associate Advisor, her favorite part about company culture are the Fridays. Why? Samantha explains:

“While at Centura, we do plan large events for the whole company, the routine Fridays are what make Centura great. Fridays are fun at Centura. We aim to make our employees excited to come to work and excited for their weekend. And we want Centura to be a place where our employees are excited to be here on a Friday afternoon.”

What is the Company Culture like at Centura?

Zoe Singh, Associate Advisor, describes the company culture at Centura. Click the link to learn more.

We take pride in the culture we’re creating here at Centura Wealth Advisory. Zoe describes the culture as “like a family in a way, we want to be close to everybody…I get questions about how I’m doing at work, but also how I’m doing in my personal life.”

“Working here for five years, I’ve seen a family-like environment, where everyone cares about each other. Managers care about their employees, and the whole team is really focused on the experience of new people coming in.”

At Centura, we want to make every new member of our team feel welcome. It’s important to us to have a positive work culture. After all, you’re spending so much of your day with the people you work with.

Final Thoughts

Headquartered in San Diego, California, Centura is passionate about our client’s objectives and owns the fiduciary responsibility of protecting their interests.

We strive to be the best in our chosen lines of business, not the biggest.

Learn more about our team, here.

August 23, 2024

LIBERATED WEALTH, NEWS

Centura’s Managing Director, Derek Myron, Featured in San Diego Business Journal’s Wealth Management Roundtable

San Diego, CA – Centura is proud to announce that Derek Myron, the company’s Managing Director, was featured in the recent wealth management roundtable organized by the San Diego Business Journal (SDBJ).

The roundtable discussion brought together eight of the region’s leading financial planners and wealth managers to share their expertise and advice on retirement planning and estate planning management.

Derek Myron’s Experience and Commitment to Helping Others:

With over 25 years of experience, Derek Myron has been serving high net-worth individuals and families since 1998, assisting them in the creation and implementation of carefully crafted plans to achieve both their financial and life goals. His dedication to helping others reach their highest potential, both professionally and personally, has been his guiding principle throughout his career.

Strong Foundation and Qualifications:

Growing up in a two-parent-teacher household that emphasized academic excellence and community service, Derek developed a strong foundation of values centered around education and helping others. He earned his undergraduate degree in Business Administration with a Finance concentration from the University of Washington and has held the Certified Financial Planner (CFP(R)) designation since 2001.

Passionate about Liberated Wealth® Plans:

Passionate about making a positive impact on his clients’ lives, Derek finds great joy in developing and implementing Liberated Wealth® plans for Centura Wealth Advsiory’s clientele. By facilitating an impactful change to their financial well-being, he helps them achieve their life goals with a focus on long-term prosperity.

The Great Retirement: Insights From Wealth Management Expert, Derek Myron

The latest issue of the San Diego Business Journal magazine’s Wealth Management section explores the challenges faced by Baby Boomers, the generation born between 1946 and 1964, who currently represent 28% of the U.S. population. With retirement rates rapidly accelerating, approximately 75 million Baby Boomers are expected to retire by 2030, marking a significant shift in the demographic landscape.

Top Concerns for Retirement Planning

As Baby Boomers approach or enter retirement, ensuring financial stability throughout their golden years becomes a paramount concern. Factors such as longer life expectancy, rising healthcare costs, and market volatility contribute to the complexity of retirement decisions. Navigating the financial path during retirement presents challenges that require careful consideration and expertise.

The Largest Intergenerational Wealth Transfer in History

In addition to retirement planning, Baby Boomers face the task of transferring wealth to their children, marking the largest intergenerational transfer of wealth in history. However, despite the magnitude of this responsibility, a majority of U.S. households lack sufficient plans in place to effectively manage this transition. Many individuals overlook the opportunity to seek guidance from wealth managers and financial planners who possess the expertise to structure comprehensive plans that facilitate the growth and management of wealth.

Let’s review Derek’s insights.

What potential challenges can arise during the transfer of a family business, and what are the associated complexities? When passing on a business, what are the primary goals to consider: fairness or equality?

Derek Myron explains the complexities associated with passing on a family business: “A family business can be extremely complicated to pass on and continue running after the death of the primary owner. This often arises due to family dynamics, disproportionate involvement in the business, and various other factors… Should it be passed on to those involved, benefiting them more than others? Or should it be divided equally… The right solution depends on the facts, circumstances, and preferences of the business and family. Proper business succession planning is crucial…”

What are common issues/problems heirs may encounter that wealth managers can help with?

Derek Myron sheds light on the issues heirs may face and how wealth managers can assist: “A good estate plan allows heirs to inherit wealth with help and support in how to manage it… Certain assets can pose challenges for heirs… Having a competent, experienced, and qualified financial advisor will help assess whether your current estate plan aligns with your goals and make necessary modifications as needed. They can also assist in setting up business succession plans, facilitating the sale of directly managed real estate assets, and transitioning into syndicated deals where management is delegated… without proper planning, wealth can become burdensome.”

What actions can be taken to Mitigate Tax Exposure in a Trust/Estate Plan?

Derek Myron provides insight on actions that can be taken to mitigate tax exposure in a trust/estate plan. He explains: “At present, gift tax and estate tax exemptions are around $13 million per individual and around $26 million per married couple… the exemptions will sunset on Jan. 1, 2026, back down to the level pre TCJA; adjusted for inflation… anyone with assets expected to exceed these estate tax exemption levels in 2026… should consider the design and construction of their current wealth transfer plans.”

Centura’s Ranking in San Diego Business Journal’s List of Wealth Management Firms

Centura Wealth Advisory has secured the notable position of #22 on the San Diego Business Journal’s list of wealth management firms. SDBJ’s list was ranked by assets managed locally for fiscal year 2022.

Read on for the full San Diego Business Journal article, here.

Connect With Centura

At Centura Wealth Advisory, we go beyond a traditional multi-family office wealth management firm to offer advanced tax and estate planning solutions which traditional wealth managers often lack in expertise, knowledge, or resources to offer their clients.

We invest heavily into technology and systems to provide our clients with fully transparent reporting and tools to make informed decisions around their wealth plan.

Read on to learn more about our 5-Step Liberated Wealth Process and how Centura can help you liberate your wealth.

Disclosures

Centura Wealth Advisory does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither attorneys nor accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

SDBJ’s Wealth Management list was ranked by assets managed locally for fiscal year 2022. The ranking should not be viewed as representative of any one client’s experience and should not be taken as an indication of performance by Centura and any of its clients. SDBJ requested Centura to participate in the special report. Centura paid a fee to participate in the special report.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

June 16, 2023

LIBERATED WEALTH, NEWS

How Centura Wealth Creates Exponential Value for Our Clients

At Centura Wealth Advisory, we believe in creating exponential value for our clients. But what does that mean, exactly? Let’s take a look.

What Do We Mean By Exponential Value?

Exponential value, as we define it, is the concept of taking two things and creating synergies that result in something greater than the sum of its parts. In other words, 1+1=4. We believe that tax planning is one of the best ways to create exponential value for our clients.

Let’s Take a Hypothetical Example

Imagine a business owner who is selling their business and has a significant transaction coming up. If we can save them half of the tax bill they would otherwise pay on that transaction, the resulting wealth could be life-changing. Depending on the size of the transaction, this could amount to tens of millions of dollars. This newfound wealth can have significant impacts going down the road, whether that be for personal consumption, wealth transfer, legacy planning, charitable intent, philanthropy, or other purposes.

The Compounding Effect of Wealth Over Time

The compounding effect of wealth over time is what creates the true exponential value. By having more assets on your balance sheet, you have the ability to invest more money for the long-term, which coupled with compounding, creates newfound wealth. Of course, this must be done by investing in quality assets paired with a prudent approach to portfolio management, over time. For example, we have had business owners who have sold their businesses for tens of millions of dollars in their 30s. By objectively investing the wealth for a long period of time, in quality assets with strong risk adjusted returns, these business owners can generate life-changing results for their families, communities, and generations to come.

Baseline Scenario

To illustrate the point, we always do a baseline scenario, which involves paying taxes on the business sale and investing the money. We compare this to a scenario where the client employs tax planning strategies on the front end, saves more money, and then invests the money alongside the proceeds of the business sale. The results are often night and day.

How Exponential Growth Creates Value

Let’s Talk Compound Interest

Albert Einstein once famously said, “Compound interest is the eighth wonder of the world. He who understands it, earns it; he who doesn’t, pays it.” Einstein was fascinated with the concept of compounding interest and the effects it can have over time. At Centura Wealth Advisory, we couldn’t agree more.

The idea behind compounding interest is simple but powerful. By reinvesting your earnings, you can earn interest not only on your original investment but also on the interest earned. Over time, this can lead to substantial growth in your wealth. In fact, the longer you allow your money to compound, the more significant the impact can be.

We believe that anyone who is fascinated by the concept of exponential value should run the math on the time value of money and see how a bigger pot of money invested over time at high returns can really add substantial wealth. This is where tax planning comes into play.

Customized Tax Planning Strategies

At Centura Wealth Advisory, we provide customized tax planning services to our clients that are designed to minimize their tax liabilities while maximizing their financial outcomes. We work closely with our clients’ legal and accounting teams to ensure that all risks are addressed and key aspects of the tax planning process are fully integrated into their overall financial plan.

Our tax planning strategies involve a range of options all of which mitigate, eliminate and/or defer income tax. In addition, these income tax reduction strategies aim at maximizing exemptions, exclusions, deductions, and/or credits. Furthermore, we utilize tax efficient investments, trusts, and a range of asset protection strategies to help our clients safeguard their wealth.

We are committed to providing our clients with the highest level of service and support. We believe that creating exponential value for our clients is not only good for their financial outcomes but is also good for our business. We pride ourselves on building long-term relationships with our clients that are built on trust, transparency, and mutual respect.

Our Holistic Approach

At Centura Wealth Advisory, we take a holistic approach to wealth management. We understand that creating exponential value for our clients requires more than just tax planning. We work closely with our clients to understand their unique financial goals and develop customized strategies that align with their objectives. By doing so, we can help our clients create exponential value that goes beyond just financial returns.

What Does a Holistic Financial Plan Include?

A holistic approach looks at an individual’s lifestyle, goals, values, and priorities to create a financial plan that works for them. Financial planners can coordinate these needs and the lifestyle of their clients in order to create a strategy.

A holistic financial plan may include:

Investments (portfolio, brokerage accounts, ETFs, mutual funds, etc.)
Retirement planning (finances and lifestyle)
Estate planning
College planning
Budgeting and saving
Retirement accounts (401k, 403b, IRA)
Insurance needs (home, auto, life, long-term care, liability, etc.)
Tax planning
Tax preparation

Final Notes

At Centura Wealth Advisory, we believe that creating exponential value for our clients is not just about investing in high-opportunity assets. It’s about taking a holistic approach to wealth management that includes tax planning, investment management, and estate planning. By doing so, we can help our clients achieve their long-term financial goals and create exponential value that can have a significant impact on their lives and the lives of their heirs.

Connect With Centura

At Centura Wealth Advisory, we go beyond a traditional multi-family office wealth management firm to offer advanced tax and estate planning solutions which traditional wealth managers often lack in expertise, knowledge, or resources to offer their clients.

We invest heavily into technology and systems to provide our clients with fully transparent reporting and tools to make informed decisions around their wealth plan.

Read on to learn more about our 5-Step Liberated Wealth Process and how Centura can help you liberate your wealth.

Disclosures

Centura Wealth does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

May 12, 2023

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ESTATE PLANNING, LIBERATED WEALTH, NEWS, TAX PLANNING

5 Steps to Support Sophisticated Wealth Management

Sophisticated wealth management is a term used to describe financial planning and investment strategies that are tailored to the unique needs and objectives of high net worth individuals. This type of wealth management typically involves a holistic approach that considers the client’s entire financial picture, including their investments, taxes, estate planning, and other financial matters.

A wealth advisor typically creates a specially tailored investment strategy and plan for their clients to help them manage their assets. This considered, advisors are constantly searching for the ways to streamline and support sophisticated wealth management. At Centura Wealth Advisory, we believe in five steps to support these goals.

Before we discuss, let’s review what wealth management is.

What Is Wealth Management?

In simple terms, wealth management is a service intended to help wealthy individuals meet a diverse set of needs and financial goals. This service is conducted through a consultative process in which an advisor begins by uncovering a client’s unique facts, assumptions and goals. This information then allows advisors to begin crafting a plan that is specific to each client and their situation. Once clients have evaluated options, and made decisions, maintaining a plan and keeping it on track is how advisors steward clients’ wealth over their lifetime (and beyond).

At Centura, the wealth management process includes:

Uncover – Meticulous discovery process to identify facts, assumptions & goals
Unlock – Analyzing & Triangulating to unlock issues and opportunities
Design – Developing a multi-purpose action plan to chart new pathways
Liberate – Implement planning & portfolio solutions
Steward – Maintaining plan by monitoring and recalibrating as appropriate

This process allows advisors to define the scope of work and related value that can be provided to clients. Some of that value may be financial gain and other value may be found in more qualitative aspects such as peace of mind and fulfillment of life goals.

Why Are Some Clients Underserved in Wealth Management?

Some clients may notice a gap in comprehensive planning and the service they actually receive.

Financial professionals typically focus on a few key goals for wealthy families and individuals: growing wealth, retaining wealth, transferring wealth, and strategic giving.

While all of these goals are important, perhaps the most significant challenge in wealth management is tax planning. Why? Once a client accumulates a certain level of wealth, depletion by taxation becomes a major concern.

However, this phenomenon – and the overall focus on retaining wealth instead of simply building it – is often overlooked by financial advisors.

That’s why we do things differently at Centura. Let’s take a look at how we close this gap in service.

How do We Close this Gap in Wealth Management Services?

At Centura, we employ several strategies to close this gap:

We take a holistic planning approach
We utilize five steps to liberate wealth in a collaborative process

What Does a Holistic Financial Plan Include?

A holistic approach looks at an individual’s lifestyle, goals, values, and priorities to create a financial plan that works for them. Financial planners can coordinate these needs and the lifestyle of their clients in order to create a strategy.

A holistic financial plan may include:

Investments (portfolio, brokerage accounts, ETFs, mutual funds, etc.)
Retirement planning (finances and lifestyle, cashflow & liquidity)
Wealth Transfer planning (Estate Tax, Gift Tax, Generation Skipping Tax)
College planning
Budgeting and saving
Tax allocation (Taxable, Tax Deferred, Tax Free)
Risk Management Needs including insurance and asset protection
Income tax planning (forward looking)
Tax preparation & compliance (rear looking)

5 Steps to Support Sophisticated Wealth Management

As noted earlier, at Centura we have created a comprehensive process that’s specifically designed for ultra-high-net-worth families who have complex financial needs. Our process helps us uncover and solve big and small challenges. Sometimes these are common issues and opportunities for wealthy families, and sometimes they are unique. Our process does not discriminate between uniqueness versus common and therefore is well-adjusted to serve our audience.

Just as important is our passion for finding and solving complex problems. We flourish in the details and how to find creative, innovative and effective ways to find efficiencies that extend and expand your wealth horizon.

1. Uncover

First, we pursue holistic discovery by gathering and understanding data; the client’s purpose, path, and professional roster. Categorically this allows us to identify relevant facts, assumptions and goals.

2. Unlock

The next phase is to analyze the facts, assumptions and goals to identify issues and opportunities which is done by establishing a baseline plan. We then consider “what if scenarios, and identify a planning scope that can address the unique needs & wants of the client.

3. Design

The design element is a core piece of the Liberated Wealth® process. The design element includes a multi-phase action plan which drives innovative solutions across a span of professionals. At Centura, we serve as the plan architect and coordinate amongst required professionals. As part of this phase, a wealth scorecard is developed and a forward looking approach to the client’s situation is employed.

4. Liberate

This step involves understanding purposeful deployment. This includes implementation and advancement with plan implementation, coordination of professionals, portfolio implementation, and scorecard reporting.

5. Steward

The final step of the Liberated Wealth® process is to monitor and pivot through purposeful deployment. This includes plan monitoring, timely recalibration, and pivoting based on life events.

This is a detailed explanation of what a process can look like for a client. It’s important to understand what the short and long-term goals are for your wealth management and understanding your advisor’s process is the first step to achieving that goal.

All of these steps revolve around the importance of predicting and planning for the future.

Connect With Centura

At Centura Wealth Advisory, we go beyond a traditional multi-family office wealth management firm to offer advanced tax and estate planning solutions which traditional wealth managers often lack in expertise, knowledge, or resources to offer their clients.

We invest heavily into technology and systems to provide our clients with fully transparent reporting and tools to make informed decisions around their wealth plan.

Read on to learn more about our 5-Step Liberated Wealth Process and how Centura can help you liberate your wealth.

Disclosures

Centura Wealth does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

December 7, 2022

Businessman talking about investment stock market and graph from computer laptop with broker trader, giving money plan management and analysis. Depicts TradingView financial market chart.

INVESTING, LIBERATED WEALTH, NEWS

How to Elevate Your Advisory: a Guide for Financial Planner and Wealth Advisors

As a financial planner or wealth advisor, you know planning the future of the firm is essential for long-term success.

At Centura Wealth Advisory, we focus our growth across the following five practice area pillars:

Marketing and business development
Financial planning solutions
Life-based estate solutions
Alternative investments
Practice management

In this article, we’ll discuss each of these pillars as well as provide examples of some of our go-to alternative investments.

Marketing and Business Development

How are you leveraging your network of Centers of Influence? Creating opportunities for shared thought leadership through tools like podcasting – such as our Live Life Liberated podcast – or hosting events can prove beneficial through deepening connections, sharing best practices and even increasing referrals.

Financial Planning Solutions

Most financial Advisory firms offer:

Goal based financial planning
Cash flow based financial planning
Needed services after the above is accomplished

How does your firm differentiate your planning offering from the competition? Can you define & articulate your planning process?

Financial advisors can assess their financial planning solutions by asking the following questions about their various process:

Income Tax Planning

What income tax planning strategies do you offer that produce 10-100X+ returns relative to cost?
How do you save your clients 20-80% of their income tax liability?
How are you making clients’ CPAs life easier?
Are you in the driver’s seat of your client’s income tax plan? Or is their CPA?

Wealth Transfer Planning

Are you leading the strategy for your client’s wealth transfer plan? Or is their EPA?

Balance Sheet Optimization

Can you optimize your clients balance sheet to maximize returns, minimize risk and ensure assets are held in optimal account locations for tax purposes?

Investments and Alternative Solutions

At Centura, we understand the power of alternative investments. We look to add exponential value through these alternative investments – such as private equity, private real estate, private credit, hedge funds, cryptocurrency and more.

Chris Osmond, Chief Investment Officer at Centura Wealth Advisory, describes how we approach alternative investments.

https://youtube.com/watch?v=cn8QVK3Dr48%3F%26wmode%3Dopaque%26rel%3D0

Private Credit

Investors may enter private credit investments because of their floating rate loans, which will limit the interest rate risk associated with other forms of investment, such as traditional fixed-income investments.

Additionally, private credit transactions are direct negotiations between the lender and the borrower. This allows investors to access a wide range of private transactions and negotiate terms that best work for their situation.

Life Insurance

Life insurance can be a powerful vehicle for alternative investments. It provides downside protection, high liquidity, and an attractive upside potential relative to investments with a similar risk profile.

Check out episode 31 of our podcast, Live Life Liberated, to learn more about how life insurance solutions can be used as an alternative to fixed-income investments.

Life-Based Estate Solutions

How do you access the best life insurance solution(s) for your clients?

For example, main business lines include:

Cash Management
Income Tax Planning
Wealth Transfer Planning
Business Planning
Death Benefit Planning

Or, advanced Planning concepts, such as:

Split Dollar – Private, Business & GSD
Premium Finance
Charitable Trusts
GRATs, SLATs
IRA Optimization

Check out our retirement checklist, here.

Practice Management

Financial planners and advisors can elevate their advisory through streamlining their systems and processes.

What are Financial Management Processes?

Financial management processes are, in their simplest terms, plans and procedures which will help an individual, family or institution reach their financial goals. These processes can include a series of steps, such as:

Identifying financial goals
Gathering financial and personal information
Analyzing financial information
Developing a customized financial plan to achieve these goals

In order to assess their current solutions, members of a firm can ask questions such as:

How do you Capitalize on your Financial Genius?
How do you build depth in your organization? What is the level of expertise of your #2?
How do you leverage teams in your practice?
What tech stack solution has unlocked revenue and time in your practice?

Learn more in our blog, The Importance of Systems and Processes in Financial Management.

Connect With Centura

At Centura Wealth Advisory, we go beyond a traditional multi-family office wealth management firm to offer advanced tax and estate planning solutions which traditional wealth managers often lack in expertise, knowledge, or resources to offer their clients.

We invest heavily into technology and systems to provide our clients with fully transparent reporting and tools to make informed decisions around their wealth plan.

Read on to learn more about our 5-Step Liberated Wealth Process and how Centura can help you liberate your wealth.

Disclosures

Centura Wealth does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

December 6, 2022

Business team meeting to conference, collaboration discussing working analyzing with financial data and marketing business strategy project, presentation and brainstorming to making profit of company

INVESTING, LIBERATED WEALTH, NEWS

Insider Tips From High-Level Financial Advisors

With rising interest rates and inflation reaching a 40-year high, investors, planners and affluent individuals are searching for solutions to create financial strategies to meet their goals.

In this article, we’ll discuss several investment and planning strategies to address some of the most common financial issues faced by affluent individuals: high interest rates, inflation, and high income taxes.

Tips to Navigate a Rising Interest Rate Environment

The primary risks of a rising interest rate environment include the potential for a loss in principal value as well as a loss of buying power. Let’s take a look at some strategies that address and mitigate these risks.

Consider Investing in Private Credit

Investors may enter private credit investments because of their floating rate loans, which will limit the interest rate risk associated with other forms of investment, such as traditional fixed-income investments.

Additionally, private credit transactions are direct negotiations between the lender and the borrower. This allows investors to access a wide range of private transactions and negotiate terms that best work for their situation.

Collateralized Loan Obligations (CLOs)

A collateralized loan obligation (CLO) is “single security backed by a pool of debt….Collateralized loan obligations (CLO) are often backed by corporate loans with low credit ratings or loans taken out by private equity firms to conduct leveraged buyouts.”

With collateralized loan obligations, an investor receives scheduled debt payments from the underlying loans. The investor is offered greater diversity and the potential for higher-than-average returns in exchange for taking on the default risk.

Learn more about using private credit as a hedge against rising interest rates.

Look into Life Insurance

Life insurance can be a powerful vehicle for alternative investments. It provides downside protection, high liquidity, and an attractive upside potential relative to investments with a similar risk profile.

Check out episode 31 of our podcast, Live Life Liberated, to learn more about how life insurance solutions can be used as an alternative to fixed-income investments.

Structured Notes

Structured notes, written by high credited banks, are customizable and well-suited for a rising interest rate environment and can help investors maintain returns.

Tips to Invest Against the Effects of Inflation

Multifamily real estate can provide opportunities for investors to protect themselves against their declining purchasing power.

Consider Multifamily Real Estate as a Hedge Against Inflation

Investors often view multifamily real estate as “inflation resistant.” Why? This form of investment doesn’t typically drop in value as much as other assets during challenging market times. Additionally, multifamily real estate tends to recover faster than other investments.

Further, multifamily real estate is an attractive investment during a market with rising inflation because it:

Has intrinsic value
Provides owners with the ability to adjust rent to combat the effects of inflation
Maintains a rising demand with a stagnant supply

Learn more about why investors are opting for multifamily real estate as a hedge against inflation.

Let’s Talk Short-Term Bonds

Short-term bonds are less sensitive to inflation and the increased rates of a high-interest rate environment than longer-maturity bonds. Longer-maturity bonds may lock in rising rates for longer-time periods whereas shorter-term bonds require a shorter commitment to the high rates and will allow investors to move on to better opportunities.

How to Get Started With These Insider Tips

At Centura Wealth Advisory, we go beyond a traditional multi-family office wealth management firm to offer advanced tax and estate planning solutions which traditional wealth managers often lack in expertise, knowledge, or resources to offer their clients.

We invest heavily into technology and systems to provide our clients fully transparent reporting, and tools to make informed decisions around their wealth plan.

Read on to learn more about our 5-Step Liberated Wealth Process and how Centura can help you liberate your wealth.

Disclosures

Centura Wealth does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

October 8, 2022

ESTATE PLANNING, INVESTING, LIBERATED WEALTH, NEWS

The Importance of Systems and Processes in Financial Management

Financial management is a process by which an individual or an organization organizes and enhances its financial situation through strategies such as:

Investment management
Retirement planning
Tax planning
Estate planning
And more

Managing your financial portfolio alone can feel overwhelming. At Centura, we act as a financial partner to our clients, as we steward them toward the strategies that will work best for their unique situations. With that being said, we often use systems and processes to assist in the financial management process.

What are Financial Management Systems?

A Financial Management System (FMS) is the software and processes an organization uses to manage income, assets, and expenses. The FMS utilizes several functions to simplify financial management, such as maintaining complete audit trails as well as coordinating income statements, expense statements and balance sheets.

Further, a Personal Management System (PFM) performs similar functions to enhance the financial management of an individual or family, such as reducing accounting errors, maintaining audit trails, balancing checks, and automatically paying bills.

Why are Financial Management Systems Important?

Financial management systems and personal management systems are important because they secure long-term financial organization and efficiency. This organization will allow you to make fully informed decisions about your finances without being hindered by disorganized paperwork, accounting errors, or incomplete or inaccurate records.

What are Financial Management Processes?

Financial management processes are, in their simplest terms, plans and procedures which will help an individual, family or institution reach their financial goals. These processes can include a series of steps, such as:

Identifying financial goals
Gathering financial and personal information
Analyzing financial information
Developing a customized financial plan to achieve these goals

Read on to learn How Centura Supports Goals-Based Investing.

Why Are Financial Management Processes Important?

You Gain a Better Understanding of Your Portfolio

Processes can build an accurate and complete account of your existing financial situation through the meticulous collection of detailed financial information, identification of existing strategies, as well as the development of an understanding of your financial goals, values and desired outcomes.

You are in a Better Position to Plan for the Future

Going through a financial plan can unlock your “what-if” scenarios. Consider how your financial plan will change if:

You have to take care of your parents or family members
You or a member of your family are injured in an accident
You decide to become more philanthropic
The value of your stock drops
Your interest rates increase significantly
You decide to move
The college tuition for your child(ren) increases

Financial Management Processes Set You Up for Future Success

Regularly creating a financial plan can help you analyze your baseline, goals, existing strategies, and what-if scenarios. Through this analysis, you find what plan would best fit your needs.

At Centura, our advisors aim to understand not only your financial needs but also life events that may impact your finances. We work to create a relationship with you in order to guide you toward the best financial decisions.

It Helps You Keep a Pulse on Your Financial Performance

Implementing financial systems and processes that work for you is an essential aspect of analyzing your financial performance. Performing these processes on a regular basis allows you to make adjustments when necessary and gain a better understanding of your overall performance.

These regular adjustments ensure your plan is efficient, evolving with market conditions, and continues to align with your financial goals.

Interested in using financial processes to enhance your financial management but not sure where to start?

We want to help! Learn more about our 5-Step Liberated Wealth Process and how Centura can help you liberate your wealth.

Centura Wealth does not make any representations as to the accuracy, timeliness, suitability or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

May 29, 2022

INVESTING, LIBERATED WEALTH, NEWS

How Centura Supports Goals-Based Investing

In today’s world, the amount of information an individual has access to is endless. With that being said, it can be challenging to navigate the world of wealth management. With ever-changing market cycles and fluctuations, it’s important to understand your financial goals and how they will guide your portfolio.

How can you sift through all the noise to understand what is best for your financial goals and risk profile? Let’s discuss.

The Role of Emotions in Your Investment Decisions

Understanding the role that emotions play in crafting your wealth profile is one of the first steps in reaching your financial goals.

In an SEC-sponsored research paper, it’s reported that “investors tend to fall into predictable patterns of destructive behavior. In other words, they make the same mistakes repeatedly. Specifically, many investors damage their portfolios by under diversifying; trading frequently; following the herd; favoring the familiar (domestic stocks, company stock, and glamour stocks); selling winning positions and holding onto losing positions (disposition effect); and succumbing to optimism, short-term thinking, and overconfidence (self-attribution bias).”

Knowing this, how can you understand when you may be falling into these predictable, not so profitable, patterns?

It all begins with an understanding of your goals and your risk profile. These two items are the basis for building out a financial portfolio that performs for your needs.

Your Advisor’s Role in Achieving Your Financial Goals

Wealth advisors that thoroughly understand your goals and your risk profile can make a huge difference in navigating your wealth. At Centura, our advisors use the Liberated WealthⓇ Process to guide our client relationships. Our goal is to understand your wealth, identify inefficiencies, design new pathways, and liberate your wealth.

So, what does this process look like?

Uncover

As we mentioned above, it all starts with understanding your risk profile and your financial goals. During this step of the process, Uncover, our team collects data, discusses your purpose and path, and discovers all that we need to know about your current wealth profile. This discovery is a crucial step in the process of understanding how our advisors can help you build sustainable wealth.

Unlock

Following the Uncover step, our advisors Unlock the initial plans, scenarios, and strategies to move forward with your portfolio. From the information that is gathered in the Uncover step, our advisors identify your existing strategy and establish a baseline plan. In this stage, your advisor is looking at the “what if” scenarios associated with your portfolio and using them to guide potential new strategies.

Design

The next step of the Liberated Wealth Process is to actually craft the plan—the Design phase. Your advisor will put together a multi-phase action plan, combined with a wealth scorecard to track your progress.

Liberate

You have now reached the point of implementation. The Liberate step of the process is to implement the plan, coordinate necessary professionals, implement the portfolio, and report on the scorecard.

Steward

Lastly, you get to the Steward step of the process. This step is an ongoing effort of monitoring your plan, reviewing, and recalibrating as needed. The advisor you are working with will help steward you through all of the life events that come your way, whether that is retirement, having a child, starting a business, and the list goes on.

Our goal at Centura Wealth Advisory is to steward our clients toward achieving their financial goals. Want to learn more about why stewardship is at the core of everything we do for our clients? Read on to find out why stewardship is at the core of everything we do.

April 15, 2022

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LIBERATED WEALTH, NEWS, TAX PLANNING

5 Steps: The Liberated Wealth Process®

If you’ve worked with any of our advisors at Centura Wealth, you have most likely heard us talking about the Liberated Wealth® process.

We believe that it’s our role as stewards to embrace the details of your existing financial situation. This is where the Liberated Wealth® process comes into play.

In the spirit of transparency, we want to provide information to our clients about our processes and findings. Let’s dive deeper into what the 5 steps of the Liberated Wealth® process look like.

Our tax planning generally starts with your existing baseline. After a comprehensive review, we illustrate and synthesize the complexities of your tax profile into sophisticated options. Our goal is to reduce your tax burden and drive meaningful outcomes for you, your family and friends, and charitable organizations.

Since real estate is often one of the major components of a family’s balance sheet, our expertise in real estate planning is frequently at the forefront of our clients’ minds and needs.

Our team functions based on 5 main steps. They are as follows:

1. Uncover

First, we pursue holistic discovery by gathering and understanding data; the client’s purpose, path, and professional roster.

2. Unlock

The next phase is to follow a precise design by analyzing and triangulating existing strategies, establishing a baseline plan, considering “what if” scenarios, and identifying a planning scope.

3. Design

The design element is a core piece of the Liberated Wealth® process. The design element includes a multi-phase action plan, a wealth scorecard, and charting new pathways.

4. Liberate

This step involves understanding purposeful deployment. This includes implementation and advancement with plan implementation, coordination of professionals, portfolio implementation, and scorecard reporting.

5. Steward

The final step of the Liberated Wealth® process is to monitor and pivot through purposeful deployment. This includes plan monitoring, timely recalibration, and life events reset.

This is a detailed explanation of what a process can look like for a client. It’s important to understand what the short and long-term goals are for your wealth management and understanding your advisor’s process is the first step to achieving that goal.

All of these steps revolve around the importance of predicting and planning for the future. Let’s take a closer look into how planning is implemented into the Liberated Wealth® process.

Planning

Planning is a multi-step process that may seem tedious but is essential to progressing your wealth. It’s easy to be financially disorganized, that’s where we step in. Centura Wealth helps you create order and organization, and most importantly — peace of mind.

Planning to liberate your wealth looks different for each family, individual, and institution. At Centura, we offer different areas of planning, including:

Tax Planning

Short Range Tax PlanningLong Range Tax PlanningPermissive Tax Planning Purpose-Driven Tax Planning

Retirement Planning

Wealth Accumulation
Lifetime Income

Portfolio Planning

Portfolio ReviewPortfolio ProposalPortfolio Stress-testingBespoke Alternatives

Estate Planning

Charitable Planning
Multi-generational Planning
Life Insurance Planning

Real Estate Planning

Real Estate Portfolio Analysis 1031/ExchangesRefinancingExit PlanningLike Exchanges (TICs, NNN, DSTs)

Clearly, there are many planning options available to meet your unique needs. Depending on your position and interests, one of our advisors can work with you to narrow down which options deliver the highest value for you.

Precision

Our tax planning starts with your existing baseline. After a comprehensive review, we illustrate and synthesize the complexities of your tax profile into sophisticated options that drive meaningful outcomes to reduce your tax burden for you, your family and friends, and your organizations.

Precision is key, and our team will analyze and triangulate your purposes and want to design a unique liberated wealth plan.

Part of the precision element includes:

Identifying Existing Strategies
Establishing a Baseline Plan
Unlocking “What-If” Scenarios
Identifying Planning Scope

Purpose

The purpose of liberating your wealth will naturally stem from planning your finances with precision. Once Centura designs your personalized Liberated Wealth® Plan, the next step is to implement and advance the plan. This includes coordinating professionals, portfolio implementation, and scorecard reporting.

With any big step, there are going to be adjustments that come up along the way, and we make sure they still align with your purpose. Centura will help you steward your Liberated Wealth® Plan, even if that means pivoting original goals.

There are tangible ways your plan can be stewarded, including:

Plan monitoring
Timely Recalibration
Life Events Reset

Do you know what it means to find your North Star? Read our blog to find out.

Our process does not discriminate between uniqueness and commonalities and therefore is well-adjusted to serve our audience. We place importance on our passion for finding and solving complex problems.

Centura Wealth does not make any representations as to the accuracy, timeliness, suitability, or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

January 22, 2022

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LIBERATED WEALTH, NEWS

Up and Coming Technology for Wealth Advisors

As a wealth advisor, you want to provide the best service to your existing clients and prospect for new clients in the most effective way. That can be a challenging balance without the proper technology in place to support you.

The big wirehouses have access to behemoths of technology that supports wealth advisors; however, they can lose the personal touch and the collaboration that a wealth advisory might offer. These technology systems require intense customization and onboarding, which can be difficult to handle on your own.

At Centura, we prioritize being both innovative in our advisor’s access to technology, while also providing that personal collaboration that drives success. In an effort to display this priority, we have pulled together a list of the top-up and coming technologies for wealth advisors to start implementing.

A La Carte Your Tech

At Centura Wealth, we found that building a tech stack with three different ‘a la carte’ solutions matched our needs more specifically than one ‘do-it-all’ program (like EMoney).

All three solutions we decided on integrate with our hubs to create a specialized approach that works for us.

Our tech stack is made up of:

Salesforce
Orion
Right Capital
Hidden Levers
Wealth Access

This a la carte approach to technology is one we’ll likely see become more common in the future depending on your size, clientele, and resources.

Most Common Technologies Used to Support Wealth Advisors

With today’s current technology environment, there will always be ‘the next best thing’ which can make it challenging to narrow down what technology actually works for you and your client’s needs. As we said above, a combination of softwares can really enhance the way you do business. Here are a few of the most popular technologies we see used in the industry.

eMoney

While eMoney seems to be the program that does it all, there are certain restraints with using this software.

eMoney claims “financial discussions don’t have to be difficult. Neither do tech solutions that power them. At eMoney, we’re committed to delivering innovative, planning-led solutions that power your business. Our comprehensive financial program is built for the way you work and designed to scale and meet the growing needs of your firm.”

With eMoney, a client has access to:

A “Financial Feed” of data, providing news and alerts
Planning and Analytics for “conventional retirement and education planning, cash flow-centric planning, estate planning”
Reporting on Data
Balance Sheet
Client Portal
Third-Party Integration and Data Aggregation

This software is used on a large scale, which can have a downside. With lots of notifications that can disturb client relations and research, it can be a challenging software to personalize your process.

Advicent

Advicent, also known as NaviPlan, is another major contender for a program that might work for the masses. This software is great to get you started.

Some of the main features that are listed for Naviplan include:

Account aggregation
Advanced tax planning
Asset allocation & risk tolerance
Business planning
Cash flow planning
Client portal
Collaborative financial planning
Compliance workflow
Custom client reports
Equity Compensation
Estate planning
Financial fact finder
Goals based planning
Guided retirement
Insurance Planning
Monte Carlo analysis
Retirement income modeling
Scenario analysis

A Wealth Advisory Tech Stack

As mentioned above, we use Salesforce, Wealth Access, and Orion. Choosing to mix and match our tech stack has created the balance of using tech and affordability.

Wealth Access

Wealth Access is used for data aggregation. Although there are predictions that data aggregation is the future of technology in wealth management, there are some flaws to the system that will hopefully be resolved in the near future.

Wealth Access uncovers “clear, consistent, and complete stories about your customers when you unify your data,” leading to hyper-personalization that turns existing customers into loyal fans.”

Wealth Access focuses on four pillars:

Complete Customer Information
Deep Insight
Hyper-Personalized Experiences
Serious Savings

Wealth Access is Centura Wealth Advisory’s most useful data aggregator.

Orion Advisor Tech

Orion is the key to earning back your time. “From billing to compliance and reporting, these daily responsibilities eat up the clock, leaving a short window to focus on prospects and clients. Through innovative tools, easily complete your tasks at hand and leave time for scaling your business.”

Orion helps with household and portfolio data and gathering information quickly. The tech works seamlessly with advisor needs to serve a number of roles, including:

Independent advisors
Chief Compliance Officers
Chief Operations Officers
Financial Planners
Breakaways
RIAs
Broker-Dealers
Banks
TAMPs
Aggregators

Orion says in regards to financial planning, “even the best financial blueprint is useless unless you have the tools and the technology to bring the vision to life.”

Orion has helped Centura Wealth create a loyal client base towards the systems we use and adds value.

Salesforce

Salesforce is a customer relationship management (CRM) software that allows Centura Wealth to keep automation at the forefront.

Along with data organization, the specific tool in Salesforce, named Pardot, allows Centura Wealth to provide marketing information to our clients. This is where we build stronger relationships with our clients because we answer the common questions we get as advisors (on our blog and through workflows).

While technology can assist with your client service and prospecting, it is not the entire picture. Adding value in ways that go beyond the basics is a way we differentiate ourselves from other advisories. Learn more on the blog.

Centura Wealth does not make any representations as to the accuracy, timeliness, suitability or completeness of any information prepared by any unaffiliated third party, whether linked to or incorporated herein. All such information is provided solely for convenience purposes and all users thereof should be guided accordingly.

We are neither your attorneys nor your accountants and no portion of this material should be interpreted by you as legal, accounting, or tax advice. We recommend that you seek the advice of a qualified attorney and accountant.

For additional information about Centura, please request our disclosure brochure as set forth on Form ADV using the contact information set forth herein, or refer to the Investment Adviser Public Disclosure website (www.adviserinfo.sec.gov). Please read the disclosure statement carefully before you engage our firm for advisory services.

December 19, 2021