Family vacation holiday, Happy family running on the beach in the sunset. Back view of a happy family on a tropical beach and a car on the side.
,

How Does Centura Wealth Create Energy?

At Centura Wealth Advisory, we believe in providing our clients with full transparency. In an effort to display this value, we’ve decided to give you a little insight into who our team is. Recently, Centura Wealth has dedicated time to improve its employees’ lives outside of work through encouraging journaling, meditation, appreciation for others, and so on. Hear from our very own Centura Wealth employees about how these practices create energy in the workplace!

Ask yourself daily, what can you be excited about today?

“I am more aware of how my emotions affect others—my wife and most importantly my child. Going into the day with a positive attitude sets the stage for the entire day.” —Zachary Wilson, Client Service Associate

“I have written a few notes to others for showing appreciation. In both instances, I was intentional in how I wanted to make them feel. I don’t think I would have executed on this if I weren’t journaling, yes, I would have had the passing thought of ‘…I should send something…’, but I’ve actually executed on some of these things which hopefully makes them feel good, and does make me feel good.” —Matt Griffith, Senior Wealth Advisor

“This has motivated me to reach out to friends I haven’t seen in a while, which is rewarding. I definitely have taken a step back and really thought about the best way to respond when I am getting stressed at work. Reacting to stress in a more calm and collective way has made me proud of myself and I have seen positive outcomes.” —Zoe Singh, Associate Advisor

“It makes me more aware of my actions and my inactions. When you start thinking about what will happen later in the day instead of not preparing for the what-ifs, you can appreciate when things go well. When they don’t, it won’t surprise you or ‘get to you” as much.’” —Lori Stingham, Life Insurance Case Manager

“I’ve been exhibiting high(er) energy in the office, at home and generally trying to bring positive energy to meetings, and my interaction with the Centura team. I’m more positive in my approach and feel like I’m positively impacting those around me. I’ve sent direct emails to Centura team members trying to highlight their good work.” —Jonathan Freeman, Chief Operating Officer, Chief Compliance Officer

“The practice of thinking about something that I can be excited about for the day is a practice that I consistently use and have been for a while. This practice always helps me get through a long day because I know there is something to look forward to and be excited about, which then boosts my energy.” —Amber Vaccaro

“This practice allowed me to prepare for the day in ways that I am not used to. I acknowledged some potential emotions and events that could later affect my day and practicing this helped me make the most of those moments. Rather than get discouraged when the stressful event came up, I had a plan of attack. “ —Bradley Polinsky    

How has Practicing Gratitude or Journaling Impacted You?            

“I have been doing this before bed each night. It has allowed me to reflect on what I am grateful for that day and helps to remind me as I go throughout my days.”  —Zoe Singh, Associate Advisor

“I have been trying to journal as much as possible to get my thoughts out of my head and gratitude is one of the main things I try to practice while meditating.” —Paul Knezovich, Client Service Associate

“I began the practice of gratitude journaling this past month. I love how easy and quick this exercise is to accomplish; however, I wasn’t super consistent this past month. I am shooting for five days per week this upcoming month. This definitely brings me to things I hold dear. I expect this will turn into a habit very soon. Thank you for this gift!” —Derek Myron, Managing Director

“Starting my day off and thinking about the emotions I will bring that day has helped me be in a better mood throughout the entire day, thus increasing my energy levels. I notice that when I tell myself the emotions that I should bring into the day ahead, I feel more accountable to do so and it gives me an urge to follow through with it. The emotions that I typically tell myself to bring that day are typically ones such as happy, excited, powerful, and amusement. I have noticed that when I tell myself in the morning that I need to bring these emotions I feel obligated to do so and thus, end up experiencing those emotions.” —Amber Vaccaro

How has Starting One Practice Impacted your Life?            

Practices might include eating healthier, exercise, meditation for better sleep, and so on.

“I have pushed myself to get greater rest. I am getting between six to seven hours of sleep which I have not accomplished for over 20 years. I am accomplishing this by: 1) Getting to bed earlier, 2) Taking three to four melatonin gummies per night, 3) Not taking on as much of a workload, and 4) Filling up my joy bucket.    

“I find that I have greater mental stamina to stay in difficult conversations both professionally and with my family. I need to push to continue for a more balanced lifestyle.” —Derek Myron, Managing Director

“My mind is more clear and I am more productive from exercising and a better diet. I am able to overcome anything in my way.” —Andre Lawrence, Operations Manager    

“I have been trying to eat better and exercise. It definitely helps my overall attitude and energy. When I have days that I eat like crap, I feel sluggish. When I have days that I eat well, I have more energy. When I work out, I feel better about myself both on the inside and the outside.”—Lori Stingham, Life Insurance Case Manager

“I have been trying to focus more on the things that I am eating and when I am eating those things. I have never found myself to be an unhealthy eater but I can also eat much more healthily than I do, especially at the right times, as I eat late at night often which is not good for you. I have been trying to focus on eating better and not after 8 p.m. and I have noticed the way my body feels and have also felt much better in the gym while focusing on this.” —Paul Knezovich, Client Service Associate

Centura Wealth Advisory works hard to create an energy-filled environment at the workplace and with clients! To learn more about Centura, read on.

Happy young couple having a great deal with financial advisor or real estate agent at the luxury office. Investment, lending or or successful resolution of legal issues for a young family
,

Wealth Manager vs. Financial Advisor: What’s the difference?

While the terms “wealth manager” and “financial advisor” may be grouped together or used interchangeably, the two professions actually have quite a few significant differences. Individuals looking for assistance in their financial planning should be familiar with these differences to find the best professional help for them and their financial situation.

What is the Difference Between a Wealth Manager and a Financial Advisor?

In simple terms, the difference between a financial advisor and a wealth manager lies in the clients and the forms of wealth they manage.

Financial advisors manage the financial situation of a client. Wealth managers are a type of financial advisor often associated with clients with a high net worth. Both professionals manage and assist with financial planning, but wealth managers typically specialize in assisting clients with large amounts of wealth.

Let’s explore these definitions to learn which would be ideal for your financial needs.

What is a Financial Advisor?

Financial advisors assess and manage the financial status of their clients as well as help them reach their financial goals. Financial advisors manage several aspects of a client’s financial situation, ranging from retirement planning, savings, investing and estate planning.

A financial advisor provides a broad group of services, encompassing most client needs. A financial advisor also has a broader range of clientele compared to a wealth manager. While wealth managers work almost exclusively with high-net-worth clients, financial advisors have a wider range of clients. 

Most wealth managers have a minimum net worth amount required to begin an engagement, whereas financial advisors typically do not set a barrier to entry.  Individual firms will have criteria by which they determine the suitability of the relationship based on complexity, assets, and expertise. 

There are different types of financial advisors who serve a variety of client needs. A Certified Financial Planner (CFP) will work with clients to craft portfolios and future financial planning – this is often focused primarily on retirement planning. A certified public accountant (CPA) may be a part of a financial advisory team to aid in tax planning (consulting) and preparation (compliance), or clients may choose to have a separate CPA relationship.

Although there are different types of financial advisors, with specific expertise and areas of interest, here are some of the overarching services a financial advisor may provide:

  • Developing a financial plan
  • Savings allocations
  • Retirement planning
  • Tax planning
  • Inheritance and Trust creation
  • College funding
  • Business exit or succession planning 

Wealth Manager 

Wealth managers are a subgroup of financial advisors, so they provide more specific advice and services. When looking to Liberate Your Wealth®, understanding what each professional provides will save you time and money when choosing the right partnership. 

A wealth manager typically works with high-net-worth clients and provides a personal,  deeper level of financial management. A High Net Worth Individual (HNWI) falls into the range of a net worth of $1 million or more of liquid investable assets. Their clients’ asset threshold is one of the biggest differentiators between wealth managers and financial advisors. Wealth managers are typically employed by banks, private firms, and brokerages to work with high- net-worth clients.

Since wealth managers mostly work with high-net-worth individuals, they are more hands-on with a family’s or individual wealth. Some of the services that would fall under the wealth manager’s role include: 

  • Investment management 
  • Estate planning
  • Risk management
  • Capital gains planning 
  • Philanthropic gifting 
  • Legacy planningTax planning
  • Real Estate transaction planning

Do You Need a Financial Advisor or a Wealth Manager?

Consider Minimum Asset Requirements

When choosing between these two forms of financial professional help, individuals should consider minimum asset requirements to open an account. Wealth management firms may require a minimum of $250,000 while others require $1 million or even $10 million just to open an account.

While every wealth manager may not require large minimum asset requirements, most might. Individuals who can’t or do not want to comply with these requirements may fit better with a financial advisor.

Do You Want a Hands-on Approach?

Wealth managers typically have a more hands-on approach than financial advisors. If you prefer to simply check in a few times per year, consider a financial advisor instead of a wealth manager.

Any Questions? 

infographic

Contact Centura Wealth Advisory today to find the financial professional who will help you achieve your financial goals.

As a wealthy individual, family, or institution, you likely carry the burdens of wealth. This includes its complexities, the responsibilities to do right, and the duty to find efficiencies, reduce risk and protect wealth. Learn more about us and liberate your wealth in 5 easy steps.

Or, read on to learn how to plan and invest in a high interest rate environment, here.

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.

Pension calculation concept, old hands counting finances on a home calculator ,
,

How to Sustain Wealth in an Ever-Changing Market

Sometimes the emotions of investing can cause quick reactions, following the trends—which isn’t always the most successful.

The Liberated Wealth® 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. 

Unique opportunities can include emotional investing that can happen with trends and quick reactions. But there are ways to implement room for risk and create a diverse portfolio that can sustain for generations.    

Understand The Motivation 

The psychology behind quick judgments reveals a lot about human nature. 

Just like there are stages of grief, there are emotional stages of trading and wealth. Committing to a snap decision with a high-risk can bring a roller coaster of emotions: excitement, hope, anxiety, fear, panic, and relief (if all goes well). This is true for financial planning in general.

Investor behavior has been the target of many studies because investment (even when unwanted), is powered by emotions. Ask yourself some of the following questions about your potential investment: 

  • Why am I investing? 
  • Does this align with my long-term goals? 
  • Can I pivot my wealth if this fails? 
  • What do I want in life and does this decision support this?

Setting Goals Instead

Implementing long-term goals is always a good idea, especially when you might have a history of pulling the trigger on quick investments that failed. Dollar-cost averaging and diversification are two approaches that investors can implement to make consistent decisions that are not driven by emotion.

Life is About Balance! 

At the end of the day, finding a balance of overconfidence and underconfidence might find you not in the sweet spot of the exhilaration of investing, but the confidence of having sustainable wealth. 

And better yet, there is a tangible way to measure balance—a diversified portfolio! 

Talk to one of our trusted wealth advisors today at Centura Wealth Advisory to learn more about liberating 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.

Front view of family with two small children on cycling trip, sitting on grass and resting.
, ,

Generational Wealth: Transform Your Strategy to Make It Last

Did you know about 70% of wealthy families lose their wealth by the second generation, and 90% lose it by the third generation?

This is a troubling statistic—which is why, at Centura Wealth Advisory, our goal is to help families explore and implement purposeful strategies and solutions for successful wealth outcomes.

With vast experience working with high-net-worth individuals and families, our team is fully prepared to embrace your family’s complex financial life, circumstances, and strategies. We will help develop the best strategies for you.

Read on to understand why families are losing their wealth so quickly and to learn how to transform your strategy to make your generational wealth last.

Why is Generational Wealth Difficult to Preserve?

As the Chinese proverb says, “The first generation makes the money, the second spends it, and the third sees none of the wealth.”

Typically, in the process of earning wealth, the first generation learns how to:

  • Acquire assets
  • Optimize investments
  • And spend wisely

The second generation, being born into wealth, may forgo the opportunities to learn these skills. Therefore, a common mistake of the second generation is not acquiring assets and investments that:

  • Support lifestyle they’re accustomed to
  • Can be passed onto the next generation

Consequently, the third generation is left with little remains of the original wealth along with limited financial education and experience.

How Can You Make Your Generational Wealth Last Beyond the Next Generation?

Creating long-term goals, prioritizing financial education, having clear expectations, and communicating clearly are all essential practices in making your generational wealth last.

Identify Your Family’s Purpose

To implement successful strategies, we focus on generational wealth through purpose. This method includes:

  • Unpacking your family’s values and dreams
  • Helping you define, implement and track your family’s purpose
  • Making your family’s purpose the impetus of your wealth
  • Significantly lessening the burdens of wealth

Identifying and evaluating your family’s purpose can help lead you to the best strategies for your future. Read on to learn more about finding your North Star and how your purpose can lead to a fulfilling life and valuable goal-setting.

Create Long-Term Goals; Avoid Short-Term Strategies

Avoid responding to daily market conditions, buying the next hot investment product, chasing the latest wealth strategy, or only attempting to preserve your wealth.

At Centura, we instead suggest developing long-term goals that align with your family’s purpose and focus on the growth of existing assets. These goals might include:

  • Investing in the stock market
  • Investing in real estate
  • Building a business to pass down
  • Creating a strong retirement plan

We recommend working with one of our trusted advisors to ensure your unique financial situation is progressing towards these goals.

Invest in Financial Education

Financial education is crucial for family members to understand wealth sustainability. Without the proper knowledge and skills, the next generation is likely to deplete the wealth through poor spending habits and a lack of guided investments.

By providing the next generation with financial education, you provide the skills, knowledge, and habits they need to preserve and build their wealth.

This education can range from enrolling family members in relevant courses, teaching them about assets and investments at the office, or even just including them in day-to-day conversations about smart spending.

Provide Clear Expectations and Goals for Your Family

Consider possible goals you may have for your family to ensure their financial stability. Some examples may include:

  • Should you require members of your family to commit to their own success? 
  • Should you ask the next generation to acquire assets and investments to contribute to the wealth of your family? 
  • Would you like members of your family to build a business to pass down to the next generation?
  • Should you insist every member of your family earns a college degree?

These goals can encourage your kin to build their own financial success. Whatever these goals may be, we suggest introducing your expectations early on and in a clear manner.

Prioritize Transparency and Communication

Tell stories of how your family’s wealth was built; include the next generation in current financial conversations. This communication will allow your family to see the difficulties you have overcome to build your wealth as well as the current challenges you still face.

Additionally, your family can learn from your past and current decisions when it becomes their turn to make similar choices.

Healthy family communication is integral to wealth longevity. Consider hiring a family mediator, coach, or therapist to help your family navigate more difficult discussions about money.

Take Advantage of Life Insurance

Life insurance allows you to protect your family in the event of an untimely death. Without your income and resources, the next generation may not be able to maintain generational wealth. By taking advantage of life insurance, you can secure your family’s financial future.

Invest In and Save for Your Children’s Education 

Education can give your children the tools and opportunities they need to have successful, independent careers to navigate their own finances.

According to U.S. News and World Report, the average student loan debt has hit a new record high for recent college graduates—exceeding $30,000. If your child graduates college without this debt, they are more likely to begin accumulating their own wealth, become a homeowner, and pass wealth on to the next generation.

Ready to Take These Steps to Ensure Generational Wealth?

With diligent stewardship, care, and attention, a family’s wealth can last for generations. This is what we provide at Centura Wealth Advisory.

At Centura, our main focus is to liberate your wealth, going above and beyond traditional money management. We aspire to bring only the best value-added solutions to our clients.

Read on to learn more about us and why we are not your traditional wealth advisors.

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.

hiking a hill
, ,

Should You Consider Adding Structured Notes to Your Portfolio?

Professionals have compared structured notes to the innovative mindset behind mutual funds—with the main draw being zero interest rates. In the past, structured notes were a high-risk, high-return investment that only very wealthy investors could get involved in. Recently, however, the transition to using more technology for investing has opened the door for more individuals and families to invest using structured notes.

Centura Wealth Advisory works with clients to build a diversified portfolio when financial planning, and considering structured notes is a step toward having a more diverse portfolio. 

Listen to the recent Live Life Liberated podcast, “Structured Notes Simplified with Robert Sowinski,” for a professional perspective. 

What Are Structured Notes?

There are different types of structured notes that can be helpful to understand before investing.

 There are a few categories to know for understanding structural notes: 

  • Maturity
  • Underlying Asset
  • Protection Amount
  • Return/Payoff

Structured notes can be compared to a “hybrid security.”  They combine the features of various financial products into one. Structured notes combine bonds and additional investments to offer the features of both debt assets and investment assets.

Structured notes aren’t direct investments, but derivatives. They track the value of another product. The amount on a structured note will depend on the issuer repaying the premium and underlying bond. 

How do they work? 

The basic ways structured notes can be ‘structured’ are the following:

  • Provide downside market protection
  • Provide upside (or enhanced) participation
  • Provide regular payments/income in the form of coupons if certain market conditions are met
  • Provide a payout/return at maturity if certain market conditions are met

The U.S. Securities and Exchange Commission (SEC) provides more detailed information on structured notes: “Structured notes have a fixed majority and include two components—a bond component and an embedded derivative.”

Financial institutions, as a result, are generally responsible for designing and issuing structured notes, so then the Broker/Dealer can sell them to individual investors.

Potential Risks

It’s important to understand that structured investments will not be a perfect match for all investors based on their risk profile and current portfolio. They are risky as your investments can sit idly without growth

The SEC lists the risks that come with investing in structured notes: 

  • Market Risk
  • Insurance Price and Note Value
  • Liquidity 
  • Payoff Structure (which is affected by participation rates, capped maximum returns, and knock-in feature)
  • Credit Risk
  • Call Risk
  • Tax Considerations

Talk to us! 

If you’re interested in structured notes and diversifying your portfolio, speak to one of our trusted financial advisors today.

perfect sky and ocean
, ,

Meet Centura: Not Your Traditional Wealth Advisors

Who We Are

Centura Wealth Advisory deviates from the traditional standards of everyday wealth advisories. Our main focus as a wealth advisor is to liberate your wealth, creating an independent advisory firm that goes above and beyond traditional money management. We aspire to bring only the best value-added solutions to our clients; not be all things to all people. 

As financial advisors, we want to help our clients Liberate their Wealth and shape a future.

Our Purpose

Centura goes beyond a traditional multi-family office wealth management firm to offer advanced tax and estate planning solutions. Often, traditional wealth managers lack the knowledge and resources to offer their clients the best financial planning.

 “We believe everyone has a purpose in life, and ours is to help wealthy individuals and families achieve their purpose through a proactive and comprehensive wealth management process called Liberated Wealth®.”

The Centura Foundation

One tangible example of our actions following our words is the Centura Foundation. The goal of the Centura Foundation is to focus efforts on building and sustaining vibrant communities in the areas where we live and work. 

The Centura Foundation was established to harness the charitable nature of our founders and clients for the purpose of directing resources to underfunded established organizations. Built on the concept of Think Global, Act Local, we are dedicated to focusing on community-building activities that address key social issues that create a healthy and vibrant community.

At Centura Wealth, we strive to be the best in our chosen lines of business, not the biggest. Learn more about what liberated wealth means for you today.

Excel graph with Spreadsheet Document showing Information Financial Startup Concept. Financial Planning making Accounting Database Report. Graphs and chart on screen with stationery set business stuff
,

Get Ahead of The Curve: Year-End Financial Planning

Trust us, it’s never too early to start year-end financial planning. 

Year-end is about so much more than just your financial statements. The right year-end planning allows individuals to make the most out of their financial plans and tax strategies while also monitoring their current progress.

Centura Wealth Advisory believes that there are ways to liberate your wealth—that process can be made possible through financial planning. 

What are some advantages of getting ahead of the curve? You may be able to:

  • Lower your taxes with retirement contributions and charitable gifting
  • Offset taxes on investment gains by selling some assets
  • Adjust your budget to meet your financial goals as they change

Whether you’re focused on building wealth, fine-tuning your portfolio or preparing for retirement, there are things you should consider before December 31st.

Below are a couple of steps to follow for your annual financial planning. Let’s take the opportunity to get ahead of the curve and reach your financial goals.

First, What is Year-End Financial Planning?

In its simplest terms, year-end financial planning is a way to determine where you are financially as the year comes to a close.

A successful financial plan can help you:

  • Assess your budget
  • Cash flow
  • And other assets

A financial plan can reduce negative spending habits, help manage taxes, savings, debt and more as well as push individuals towards their financial goals.

Now, let’s take a look at some steps to take in your year-end planning.

Review Your Mortgage

It’s unlikely that you want to deal with a mortgage, but there are many benefits to conducting an annual mortgage review. Why? The factors which drove you to that loan choice – such as finances – have likely changed since after the settlement. By taking the time at the end of the year to review your mortgage, you can be sure the loan you have is still the best choice for your financial situation.

For instance, maybe you’re working from home long-term and want to move to a new area, maybe you’re just ready for a change of pace. Either way, evaluating your current mortgage and adjusting can help future plans be set in motion. 

Tax Loss

Year-end financial planning should also include a look at your taxes. While Tax Day may not be until April 15th, getting ahead on tax preparation can be beneficial. 

Centura Wealth Advisory specializes in tax planning for different categories including:

  • Short Range Tax Planning
  • Long Range Tax Planning
  • Permissive Tax Planning
  • Purpose-Driven Tax Planning

Some professionals believe in a tax-loss method as a way to invest in returns, but each family and institution is different.

Our investment philosophy is centered around achieving the best absolute returns given a range of likely outcomes. We achieve this through passive investment management, and by offering a unique set of alternative investments that can bring an excess return to your portfolio.

General Planning

Consider what’s coming in the next few months and beyond. The holidays can become spendy and might require further budgeting. This is another reason why financial planning can never be started too early. It can be tempting to wait until after the holidays, but if you start now then there is greater room for financial liberation.

Let’s Talk Insurance: Time to Review Your Coverage

Insurance policies have a tendency to shift depending on changes in the environment. Centura Wealth Advisory acknowledges that a key element of financial liberation is to monitor and pivot your original plans. 

Insurance policies can be broken up into categories depending on your lifestyle. General liability insurance or personal liability insurance are a couple of examples that are worth reviewing. 

General liability insurance covers your business when costly claims arise during normal business operations. It can help cover your business in the case that your business caused:

  • Third-party bodily harm
  • Third-party property damage
  • Reputational harm
  • Advertising injury

General liability insurance, however, does not cover your business for work-related injuries or illnesses sustained by employees. It also does not cover damage to your own business property or mistakes made in your business’s professional services.

Meet with a Tax Advisor

Meeting with a tax advisor can save you time, money and the stress of worrying that you might have made a mistake.

At Centura Wealth Advisory, we are dedicated as fiduciaries to our clients’ stewardship of their assets. 

One of our goals is to help our clients navigate and understand challenging economic changes, such as the current rising interest rate environment and inflation.

Review our article “How to Plan and Invest in a Rising Interest Rate Environment” for more information, then get in touch with us today.

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.

Smiling Beautiful Family of Four Play Fetch flying disc with Happy Golden Retriever Dog on the Backyard Lawn. Idyllic Family Has Fun with Loyal Pedigree Dog Outdoors in Summer House Backyard
,

The Complexity of Inherited Wealth

Wealth can come to someone in many ways. Some people are born with money and some earn it over a lifetime. 

Then there are those who inherit their wealth by the passing of a family member or selling of a business. If you haven’t managed large amounts of wealth before, however, understanding the complexity of inherited wealth is an enormous task.

There are psychological and logistic reasons for the overwhelming feeling of inheriting wealth. Even though it is an increasingly common event, this is a topic that is rarely talked about. 

So, let’s get the conversation started about the complexity of inherited wealth. 

Logistics

There are new responsibilities that come with inheriting wealth. The list is never-ending. This is why financial planning is a pillar of Centura Wealth and is highly recommended to those who suddenly inherit large sums of money.

Some key elements of financial planning include: 

  • Excessive Fees from other professionals
  • Tactical Gaps (like planning for the future)
  • Hidden Risks and Costs
  • Erosion (gradual redirection of funds)
  • Taxation

Psychology

When individuals inherit large sums of money, often, their morals are put to the test. This is completely normal. Perhaps before inheriting money, you had a vision of what you might do with this extra wealth. For example, donating a large percentage. But now, you might feel differently. 

Wealthy families carry wealth burdens. Some aspects that come with this burden include: 

  • Worry
  • Generational Degradation
  • Relationship Dynamics
  • Responsibility
  • Guilt

Centura Wealth Advisory believes there is a balance in liberating your wealth, and our clients can testament to that. We’ve worked with many families whose net worth exceeds $10M, who have complex financial lives, circumstances, and strategies.

These are some of the expressions Centura Wealth has heard our clients say:

  • “We don’t want our wealth to ruin our kids’ lives,” 
  • “We want our wealth to foster happiness and purpose,” 
  • “We realize we have a great responsibility to serve our family, and our community,”
  • “We want our wealth to improve the lives of people who are less fortunate.” 

What’s Next? 

Talk to a wealth advisor for further steps after inheriting wealth. The list of key elements that contribute to financial planning is long. Just a few to consider depending on your financial situation are retirement plans, long-term financial goals, and investment.

“We believe everyone has a purpose in life, and ours is to help wealthy individuals and families achieve their purpose through a proactive and comprehensive wealth management process called Liberated 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.

Men and women negotiate to congratulate a successful business ,Shaking hands concept.
,

How Do I Prepare to Sell My Business?

So… you want to sell your business. You’re not alone in the crazy market right now.

While there are many risks to owning a business, there are many reasons why you might be considering selling. Whether you are retiring, moving, or seeking new opportunities, here are some steps you can take to make this process as easy as possible. 

Organize 

Depending on how long your business has been in operation, there is a lot to organize. The paperwork is looming, but there are always steps you can take to organize. In general, financial planning is always a great goal to have as a business owner.

Some documents to gather and organize include:

  • Tax returns
  • Three years worth of profit and loss (P&L) statements and balance sheets
  • Copy of current lease
  • An updated list of everything that will be sold from business
  • Contact and clients list
  • Sales transactions
  • A summary of monthly sales

 After organizing these financial documents, the next step is to review them with your accountant.

Engage with the Professionals

Centura Wealth can help you through this process, and keep your priorities and goals at the forefront of selling your business. Mark Morris speaks to the importance of On the “Live Life Liberated” podcast by the Centura Wealth team. The podcast follows the one idea of minimizing your taxes — through the ING trust. Mark Morris highlights the following subjects for anyone looking to sell their business: 

  • The major hurdles that the ING strategy helps you overcome
  • What the new California legislative proposal entails — and its implications, if it’s successfully passed 
  • Why Mark strongly recommends that the sale of the business happens this year for optimal results, but options if it doesn’t
  • How to take advantage of the ING trust even if you don’t yet have a buyer for your business

Click here to learn more about the ING trust from a professional’s point of view!

Benefits

Besides making sure your business looks the best it can, there are various strategies you can follow to make smart decisions, including defined Benefit Plans (DB) and Defined Contribution Plans (DC). 

Defined Benefit Plan

A Defined Benefit Plan (DB) is an “employer-sponsored retirement plan where employee benefits are computed using a formula that considers several factors,” according to Investopedia. These factors can include the length of employment and salary history.

With a DB plan, the general rule of thumb is that an employee cannot take out funds from their 401(k) plan.

Defined Contribution Plans

A Defined Contribution Plan (DC) on the other hand is, “a retirement plan that is typically tax-deferred like a 401(k) or a 403(b), in which employees contribute a fixed amount or a percentage of their paychecks to an account that is intended to fund their retirements,” according to Investopedia. 

With a DC plan, participation by employees is voluntary. 

Find a Trustworthy Buyer

Finding a buyer can be a lengthy process, but it’s worth waiting for the right fit for multiple reasons. Here are a couple of tips to be aware of when looking for a buyer: 

  • Have multiple options as deals fall through all the time
  • Allow cushion room for negotiation
  • Keep your values top of mind—does this buyer follow them? 
  • Keep potential buyers updated to help build trusty relationships
  • It never hurts to network 

Communicate with Employees

Throughout the selling process, remember to keep your employees engaged and focused. If employees are happy in their positions, the value of your business grows.

Consider their perspective as an employee throughout the selling process. Telling them too early could cause confusion. Telling them too late can be offensive to the work they are doing. Timing is everything. 

One of the key elements of liberating your wealth is planning in a way that unpacks your family’s values and dreams, following an overall purpose. This is a great perspective to have going forward after having a conversation with your parents. 

For those who are interested in liberating their own wealth, please contact us at Centura Wealth Advisory today to see how we might partner!

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. 

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.

Kayaking and canoeing with family. Children on canoe. Family on kayak ride.
,

How to Liberate your Wealth: A Deeper Look

At Centura Wealth Advisory, we make it possible for you to liberate your wealth. But what does this mean? Let’s dive in and take a deeper look. 

Planning

Planning is a multi-step process that is tedious but essential to moving forward in your wealth. It’s easy to be disorganized financially, 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 can look differently for each family, individual, or institution. We at Centura offer different areas of planning, including: 

Tax Planning 

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

Retirement Planning

  • Wealth AccumulationLifetime Income

Portfolio Planning

  • Portfolio ReviewPortfolio ProposalPortfolio Stress-testingBespoke Alternatives

Estate Planning

  • Charitable PlanningMulti-generational PlanningLife Insurance Planning

Real Estate Planning

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

Clearly, there is a lot of planning options available. Depending on your position and interests, we 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, 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:

  • Identify Existing Strategies
  • Establish a Baseline Plan
  • Unlock “What-If” Scenarios
  • Identify 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(R) 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 (R)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

For those who are interested in liberating their own wealth, please contact us at Centura Wealth Advisory today to see how we might partner!

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. 

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.

Ready to get started? Let's talk.

SAN DIEGO

12255 El Camino Real, Suite 125
San Diego, CA 92130
GET DIRECTIONS
858-771-9500

MURRIETA

25109 Jefferson Ave, Suite 205
Murrieta, CA 92562
GET DIRECTIONS
951-677-3960

Our planning fee pricing for income tax planning services is determined using a standardized matrix based on Net Worth, Income, and Meeting Frequency. This base planning fee price may be adjusted to account for increased complexity or the occurrence of a future income event. To project tax savings, we analyze prior year tax returns to determine their past tax liability to project out the following year’s tax liability. Based on facts collected and confirmed by the client, we then identify and evaluate applicable tax strategies and the estimated annual tax savings they would produce if implemented. The estimated annual tax savings are then divided by the annual engagement price proposed to/agreed to by the client to determine the multiple on estimated annual tax savings generated as it relates to the planning fees paid. Please note, these initial projections are preliminary and based on our current understanding of the client’s situation. Outcomes may vary based on client’s decisions or chosen course of action regarding the implementation of recommended strategies, their specific goals, and risk tolerance.

LEGAL     PRIVACY POLICY     CAREERS     DISCLOSURES     FORM CRS


© 2025 Centura Wealth Advisory. The Centura Wealth Advisory logo is a trademark.

CCG Wealth Management LLC (“Centura”) is a Registered Investment Adviser. Advisory services are only offered to clients or prospective clients where Centura and its representatives are properly licensed or exempt from licensure. For more information click here