PODCASTS Archives - Centura Wealth Advisory

Ep. 107 Navigating Post-Election Exemption Planning

What Post-Election Exemption Planning Means for Your Estate

With the current federal estate tax exemption set to sunset at the end of 2025, high-net-worth individuals have a rare opportunity to optimize their wealth transfer strategies.

In this episode of Live Life Liberated, host Bryan Schick is joined by Dan Stolfa, Senior Wealth Advisor and former trust and estates attorney at Centura Wealth Advisory. Together, they unpack the complexities of post-election exemption planning and offer guidance for those looking to preserve their wealth through thoughtful, proactive planning.

Understanding the Impending Sunset of Estate Tax Exemptions

Currently, each individual is allowed to transfer up to $13.99 million tax-free during their lifetime or at death. For married couples, that number approaches $28 million. However, under current law, that exemption is scheduled to revert back to approximately $7 million per person in 2026.

“It’s basically a use-it-or-lose-it situation. If you don’t use your full exemption before 2026, you’re going to lose the excess over the new limit,” explains Stolfa.

The Centura team urges clients not to delay. While it’s tempting to adopt a wait-and-see approach, the risk of missing this window could be costly in estate taxes and missed planning opportunities.

Portability and Legislative Risk

Portability allows a surviving spouse to utilize a deceased spouse’s unused exemption. While this provision remains helpful, Stolfa points out that “legislative gridlock” and other federal priorities make the likelihood of extending current exemptions uncertain.

“If nothing happens, this law will sunset. That’s the only thing we know for sure,” says Stolfa.

Given how quickly high-caliber attorneys, appraisers, and CPAs are getting booked, Centura advises clients to begin planning now—not in Q4 of 2025.

Tailored Planning for Different Net Worth Levels

Centura helps clients across a spectrum of wealth levels determine how to approach exemption planning. Stolfa and Schick break down three key tiers:

For Net Worth Under $20 Million

Planning is more nuanced and depends heavily on age, risk tolerance, and future lifestyle needs.
Portability may offer enough flexibility for some families.

For Net Worth Around $28 Million

Consider using one spouse’s full exemption now, leaving the other available in case the law does not sunset.
Use of spousal lifetime access trusts (SLATs) or similar structures can allow for future access if needed.

For Net Worth Above $35 Million

Stolfa notes: “At these levels, transferring the full amount now makes a lot of sense—especially for older individuals with shorter planning horizons.”
Advanced modeling and scenario planning become critical.

The Urgency to Act

Clients often believe they can wait until the final quarter of 2025 to act, but Stolfa warns that the logistics—such as valuations, entity reviews, and attorney drafting—require time.

“Everyone that we’re talking to on the professional side says the same thing: Start now, or risk not being able to act at all before year-end,” he advises.

Why Centura?

Centura’s integrated team approach coordinates attorneys, CPAs, appraisers, and investment professionals to design tax-efficient strategies. By quarterbacking the process, Centura ensures nothing is missed, and that clients use their exemption wisely, with confidence.

“We help clients evaluate their exemption, current balance sheet, and cash flow over time. It’s not just about moving assets—it’s about long-term alignment,” says Schick.

Final Thoughts

As the window on historically high estate tax exemptions begins to close, families with significant wealth have an extraordinary—but temporary—opportunity.

Start early. Get the right advisors in place. And make sure your plan reflects both your financial goals and your family values.

Disclaimer

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Centura Wealth Advisory. The content has been made available for informational and educational purposes only. The content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.Centura Wealth Advisory (Centura) is an SEC-registered investment advisor with its principal place of business in San Diego, California. Centura and its representatives are in compliance with the current registration and notice filing requirements imposed on SEC-registered investment advisors in which Centura maintains clients. Centura may only transact business in those states in which it is notice filed or qualifies for an exemption or exclusion from notice filing requirements. Past performance is no guarantee of future results. Tax relief varies based on client circumstances, and all clients do not achieve the same results.

March 26, 2025

NEWS, PODCASTS

Ep. 106 The Power of Strategic Financial Planning

The Power of Strategic Financial Planning

Success in financial planning isn’t just about making money—it’s about making the right decisions at the right time. As wealth grows, so does the complexity of managing it effectively. That’s why high-achieving professionals and business owners must level up their financial strategy and assemble the right advisory team.

In this episode of the Live Life Liberated podcast, Samantha Lawrence speaks with Kyle Whissel, owner of Whissel Realty, about his journey from foundational financial planning to implementing advanced wealth strategies. With a rapidly growing business and increasing tax liabilities, Kyle shares how Centura Wealth Advisory has been instrumental in helping him optimize his wealth, minimize taxes, and build a top-tier financial team.

Key Takeaways

1. The Importance of Upgrading Your Financial Team

As income increases, financial needs evolve. What worked in the early stages of building wealth may not be effective for managing multi-seven-figure earnings. Kyle explains how upgrading his advisory team was a critical step in optimizing his financial future.

“The team that got you here won’t necessarily get you there. You have to recognize when it’s time to level up and bring in experts who can handle the complexities of growing wealth.” – Kyle Whissel

2. Creating Synergy Among Advisors

Having a financial team isn’t enough—it’s about ensuring all advisors are aligned. Too often, professionals work in silos, leading to inefficiencies and missed opportunities. Kyle shares how a coordinated team approach has improved his financial decision-making.

“If your CPA and wealth advisor aren’t on the same page, you can’t execute strategies effectively. Making sure your team is in alignment is essential.” – Kyle Whissel

3. Leveraging Advanced Tax Strategies

As tax bills increase, high-income individuals must shift from basic tax-saving methods to advanced strategies such as:

Defined Benefit Plans – Maximizing pre-tax contributions
Charitable Lead Trusts (CLTs) – Combining philanthropy with tax efficiency
Cost Segregation Studies – Optimizing depreciation for real estate investors

By implementing these strategies, Kyle has significantly reduced his tax burden while reinvesting in his business and personal financial goals.

4. Flexibility in Financial Planning

Income levels fluctuate, especially for business owners. Establishing flexible financial strategies allows for adjustments based on profitability each year. Kyle highlights how Centura Wealth Advisory has helped him fine-tune his approach to balance reinvestment and tax savings.

“Not all businesses have linear income growth. Having the ability to pull different financial levers each year gives us the flexibility we need.” – Kyle Whissel

5. Structuring Investments for Long-Term Growth

As Kyle has expanded his business ventures—including real estate development—working with Centura has provided him with critical insights into structuring investments, evaluating risks, and attracting investors.

“Centura helps me poke holes in investment opportunities, making sure we’re structuring deals the right way before presenting them to investors.” – Kyle Whissel

Final Thoughts

Financial success isn’t just about earning more—it’s about being proactive, strategic, and surrounding yourself with the right team. Whether it’s reducing taxes, optimizing investments, or ensuring alignment across advisors, strategic financial planning plays a crucial role in long-term wealth preservation and growth.

For more insights, connect with Centura Wealth Advisory at centurawealth.com.

Disclaimer

The information covered and posted represents the views and opinions of the guest and does not necessarily represent the views or opinions of Centura Wealth Advisory. The content has been made available for informational and educational purposes only. The content is not intended to be a substitute for professional investing advice. Always seek the advice of your financial advisor or other qualified financial service provider with any questions you may have regarding your investment planning.Centura Wealth Advisory (Centura) is an SEC-registered investment advisor with its principal place of business in San Diego, California. Centura and its representatives are in compliance with the current registration and notice filing requirements imposed on SEC-registered investment advisors in which Centura maintains clients. Centura may only transact business in those states in which it is notice filed or qualifies for an exemption or exclusion from notice filing requirements. Past performance is no guarantee of future results. Tax relief varies based on client circumstances, and all clients do not achieve the same results.

March 3, 2025

NEWS, PODCASTS, TAX PLANNING

Ep. 105: Are You Leaving Money on the Table? Unlock Wealth You Didn’t Know You Had

If you’re a high-net-worth individual or a business owner, there’s a good chance you might be missing out on significant tax savings. These opportunities, often hidden within the complexities of tax codes and financial strategies, could add up to millions—especially if you own real estate or operate a thriving business.

So, how can you uncover these hidden savings?

This week’s episode of Live Life Liberated dives into the strategies you need to know. Derek Myron, Managing Director at Centura Wealth Advisory, sits down with Eric P. Wallace, a seasoned CPA and tax specialist, to discuss actionable methods that unlock substantial financial opportunities.

Here’s a closer look at the key strategies they explore and how they can help maximize your wealth.

Cost Segregation: Unlocking Immediate Deductions in Real Estate

If you own investment properties or commercial real estate, you’re likely aware of depreciation. However, traditional depreciation schedules often fail to maximize the tax benefits available to you. Cost segregation offers a powerful alternative.

By identifying and reclassifying components of your property—such as lighting, flooring, and HVAC systems—you can accelerate depreciation and unlock significant tax deductions. This strategy allows property owners to realize six- or even seven-figure deductions in the current tax year.

Example: A real estate investor who owns multiple apartment complexes was able to use cost segregation to increase cash flow, reinvest in new properties, and reduce taxable income by millions.

Whether you’re building wealth through real estate or optimizing your current portfolio, cost segregation is a strategy worth exploring.

Tangible Property Regulations (TPRs): Reclaim Missed Deductions

Have you ever wondered if you’re properly accounting for past business expenses? Tangible Property Regulations (TPRs) provide a framework for revisiting and correcting the treatment of expenses that may have been improperly capitalized. By “scrubbing” your depreciation schedule, you can identify and reclaim missed deductions retroactively.

This strategy is particularly effective for business owners who have made significant capital improvements or repairs over the years. By aligning your records with TPR guidelines, you can potentially unlock tens or hundreds of thousands in tax savings.

Why It Matters: The IRS allows you to go back and fix these errors, ensuring you aren’t leaving money on the table.

Change in Accounting Methods & Private Letter Rulings (PLRs)

Another overlooked area of tax strategy involves changes in accounting methods. If your business generates $50 million or more in revenue, these changes can help you achieve substantial tax deferrals.

The IRS provides a formal process for implementing these changes through Private Letter Rulings (PLRs). These rulings allow businesses to make IRS-approved adjustments to their accounting methods, creating opportunities to defer income and minimize taxes.

Real-World Impact: Companies in industries ranging from construction to fast food have successfully leveraged this strategy to defer taxes and improve cash flow.

If your business operates at scale, consulting a tax professional about PLRs could provide a significant financial advantage.

Why Collaboration with CPAs Matters

Many high-net-worth families and business owners already have trusted CPAs who help manage their finances. However, niche tax strategies like cost segregation, TPRs, and PLRs often fall outside the expertise of a generalist CPA. That’s where specialists like Eric P. Wallace come in.

By collaborating with niche professionals, you can complement the work of your existing CPA and uncover opportunities that might otherwise go unnoticed. This collaborative approach ensures that every aspect of your financial plan is optimized.

Tip: When working with specialists, look for professionals who prioritize communication and integration with your existing team to create seamless and effective strategies.

Why It’s Time to Revisit Your Tax Strategy

Tax laws are constantly evolving, and strategies that worked well in the past may no longer be sufficient to maximize your financial outcomes. Whether you’re a business owner, real estate investor, or high-net-worth family, it’s essential to periodically review your tax strategy and explore opportunities to enhance it.

By leveraging advanced strategies like cost segregation, TPRs, and accounting method changes, you can ensure you’re not leaving money on the table. More importantly, these strategies free up resources that can be reinvested into growing your business or portfolio, ensuring long-term financial success.

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.

Connect with our team today to learn how we can help you navigate complex financial decisions and secure your financial future with confidence.

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.

January 6, 2025

NEWS, PODCASTS, TAX PLANNING

Ep. 104: How to Protect Wealth & Maximize Tax Efficiency for High-Net-Worth Families & Business Owners

In today’s unpredictable financial environment, high-net-worth families and business owners face unique challenges when it comes to protecting their wealth and maximizing tax efficiency. As markets fluctuate and tax laws evolve, finding strategies that both safeguard assets and optimize returns is paramount.

This week on Live Life Liberated, Sean Clark, Partner at Centura Wealth Advisory, and Chris Osmond, Chief Investment Officer, dive into a transformative approach: direct indexing. This personalized investment strategy not only provides flexibility and alignment with your financial goals but also unlocks the potential for significant tax advantages.

In this blog, we’ll explore the key insights from Sean and Chris on how direct indexing can help you navigate today’s markets while maximizing your portfolio’s efficiency.

What Is Direct Indexing?

Direct indexing is an innovative investment approach that allows investors to directly own individual stocks that replicate the performance of a specific market index, such as the S&P 500. Unlike traditional mutual funds or exchange-traded funds (ETFs), direct indexing uses Separately Managed Accounts (SMAs), which provide greater customization, control, and tax advantages.

In a typical mutual fund or ETF, an investor buys shares of a pooled portfolio of stocks. The downside of this approach is the lack of flexibility—it’s difficult to exclude stocks from specific sectors or adjust for personal values. However, with direct indexing, investors hold individual stocks within their portfolios. This offers several key benefits:

Tax Loss Harvesting: Direct indexing allows for efficient tax loss harvesting, which can offset capital gains and reduce taxable income.
Customizations for Values and Financial Goals: Investors can exclude industries or companies they don’t want to invest in (e.g., tobacco or fossil fuels) and tailor sector exposures to match their financial outlook.
Flexibility: Direct indexing allows for greater control over investment decisions, as investors can add or remove individual stocks at their discretion.

Let’s take a closer look at some of the primary benefits of direct indexing.

The Power of Tax Alpha

One of the key reasons that direct indexing stands out as a wealth management tool is its ability to generate tax alpha. Tax alpha refers to the incremental value that is added to an investment portfolio through strategic tax-efficient strategies, such as tax loss harvesting.

Tax loss harvesting is particularly beneficial in volatile markets, where the value of individual stocks can fluctuate dramatically. In these circumstances, investors can sell underperforming stocks at a loss, which can be used to offset other gains or income within their portfolio. This strategy can potentially add 0.5% to 2% to your annual returns.

Here’s a breakdown of how tax loss harvesting works in the context of direct indexing:

Identify Losses: The first step is to sell underperforming stocks to realize a loss. While it’s not ideal to sell stocks at a loss, this can be a beneficial move when it helps to offset taxable gains.
Offset Gains: The loss from the sale can be used to offset capital gains or reduce taxable income, lowering your overall tax liability.
Reinvest Strategically: To maintain exposure to the same sectors or industries, investors can replace the sold positions with similar securities (often referred to as “tax-efficient replacements”). This allows them to preserve their portfolio’s overall strategy without triggering the wash-sale rule, which prevents investors from claiming tax losses on positions they repurchase within 30 days.

For high-net-worth individuals, tax loss harvesting can provide a significant advantage, especially during periods of market turbulence. This proactive strategy helps investors reduce their tax burden and optimize long-term growth.

Personalized Portfolios for Unique Goals

Direct indexing isn’t just about tax optimization—it also offers exceptional customization options, allowing families and business owners to align their investment portfolios with their unique goals, values, and financial objectives.

Align with Your Values: Many investors want to ensure that their portfolios reflect their personal values. With direct indexing, you have the ability to exclude industries or specific companies that don’t align with your ethical or social principles. For example, if you prefer not to invest in tobacco or fossil fuels, direct indexing allows you to tailor your holdings accordingly.
Tailor Exposures to Your Financial Goals: High-net-worth families and business owners often have specific financial objectives—whether that’s prioritizing growth, minimizing risk, or investing in specific sectors. With direct indexing, you can fine-tune your portfolio to emphasize the sectors or companies that align with your investment strategy and outlook for the future.

Direct indexing enables a level of portfolio customization that traditional index funds and ETFs simply cannot match. Whether you’re focused on long-term growth or specific sector exposure, this strategy offers the flexibility to build a portfolio that is perfectly aligned with your financial goals.

Best Use Cases for Direct Indexing

Direct indexing has several key advantages, but it is particularly effective in certain scenarios. Here are the best use cases for this approach:

Maximizing Tax Benefits in Taxable Accounts: For high-net-worth individuals with taxable accounts, direct indexing is a powerful tool for maximizing tax benefits. The ability to conduct tax loss harvesting and strategically offset capital gains can have a significant impact on long-term portfolio growth. This is especially important for families and business owners who may face higher tax liabilities due to significant income or capital gains.
Preparing for Liquidity Events: Business owners who are approaching a sale or other liquidity events, such as an acquisition or IPO, can greatly benefit from direct indexing. The strategy can help optimize the management of newfound wealth after these events by offering greater tax efficiency and diversification. It also provides the flexibility to adjust exposures based on changing financial circumstances and goals.
Managing Concentrated Stock Positions: Many executives and business owners hold significant amounts of stock in their own company. Direct indexing offers a tax-efficient way to diversify these concentrated positions without triggering massive tax bills. By strategically selling portions of the company stock and reinvesting in a diversified portfolio, business owners can reduce risk and maintain tax efficiency.

Why Now?

In today’s volatile markets, wealth preservation and tax efficiency are more critical than ever. Global economic uncertainty, fluctuating interest rates, and ongoing market disruptions demand proactive and flexible wealth management strategies. Direct indexing offers a unique combination of personalization, tax optimization, and customization that traditional investment vehicles simply can’t provide.

For high-net-worth families and business owners, direct indexing is more than just a tool for tax efficiency—it’s an investment strategy that provides control, flexibility, and growth potential. By partnering with wealth management experts who specialize in direct indexing, you can take a hands-on approach to safeguard your wealth, manage risk, and optimize returns.

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.

Connect with our team today to learn how we can help you navigate complex financial decisions and secure your financial future with confidence.

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 4, 2024

Grantor vs. Non-Grantor Trusts: Tax Strategies for Wealth Preservation in wealth management office

NEWS, PODCASTS, TAX PLANNING

Ep. 103: Grantor vs. Non-Grantor Trusts: Tax Strategies for Wealth Preservation

Trust planning can be overwhelming, especially with tax laws that seem to change constantly. But understanding the ins and outs of grantor and non-grantor trusts is key to making smart decisions about your wealth and legacy.

In this episode of the Live Life Liberated podcast, Kyle Malmstrom from Centura Wealth Advisory and Adam Buchwalter from Wilson Elser break down the differences between grantor and non-grantor trusts, and how they can be used to optimize your income and estate tax strategies.

What Are Grantor and Non-Grantor Trusts?

At the most basic level, trusts fall into two categories when it comes to taxes: grantor trusts and non-grantor trusts. Both types of trusts are designed to move assets out of your taxable estate, but they handle taxes in very different ways.

A grantor trust is treated as if the grantor (the person who creates the trust) still owns the trust’s assets for tax purposes. This means that all the income generated by the trust is reported on the grantor’s personal tax return.

“A grantor trust is, in essence, invisible to the grantor. All income is reported on the grantor’s personal tax return, while the trust grows tax-free.” – Adam Buchwalter, Wilson Elser

While the grantor pays taxes on the income generated by the trust, the trust itself is not taxed on the money it earns. The key benefit here is that the trust can grow without being burdened by taxes, helping assets compound over time.

In contrast, a non-grantor trust is a separate tax entity. It gets its own tax identification number and must file its own tax returns. Non-grantor trusts are taxed at their own rates, which are generally higher than individual rates, and any income the trust generates is taxed within the trust.

The Upside of Grantor Trusts

Grantor trusts can be a great way to accelerate wealth growth, especially for those looking to pass wealth on to future generations without the drag of taxes.

“Because the grantor pays the taxes, the trust can grow faster without the drag of taxes. This payment is not considered an additional gift to the trust.” – Adam Buchwalter

By paying the taxes on the trust’s income, the assets in the trust are free to grow without being diminished. This can be especially helpful when you’re looking to pass down wealth to heirs, as it allows the trust to accumulate more value over time. It’s also a powerful tool in estate and asset protection planning.

That said, there are some things to keep in mind. Legislative proposals, like those in Senator Elizabeth Warren’s bill and President Biden’s Green Book, could change how grantor trusts are taxed. These changes might limit the benefits of grantor trusts, particularly for future contributions.

Why Go With Non-Grantor Trusts?

Non-grantor trusts offer a different set of benefits that can be especially helpful for individuals in high-tax states or those looking to maximize their tax efficiency.

“By domiciling the trust in a state like Nevada, where there’s no state income tax, you can save millions on transactions like the sale of a business or stock.” – Adam Buchwalter

For example, if you live in a high-income tax state like California, a non-grantor trust can help you avoid those state taxes by setting up the trust in a state with no income tax, such as Nevada or Delaware. This can lead to significant savings, particularly when selling assets like a business or stocks.

Non-grantor trusts also tend to be more insulated from changes in tax laws. While grantor trusts are more directly affected by tax law changes, non-grantor trusts are taxed as separate entities, which can provide more stability in the face of potential legislative shifts.

Why the Time to Act Is Now

Given the potential changes in tax regulations, now is the perfect time to consider your trust planning options. With proposals that could impact the tax treatment of grantor trusts, it may be wise to set up or fund your trust before any new legislation is passed.

“This may be your last planning opportunity. Talk to your advisors now to ensure your trust is set up properly and aligns with your goals.” – Kyle Malmstrom, Centura Wealth Advisory

Talking to your financial and legal advisors now can help ensure that your trust is set up in a way that takes full advantage of current tax rules. Whether you’re setting up a new trust or making changes to an existing one, getting proactive now can protect the benefits you currently enjoy.

Trust Strategies Tailored to Your Family

No two families are the same, and your trust planning should reflect your unique financial situation. Whether your focus is on minimizing taxes, preserving your wealth, or supporting charitable causes, it’s important to have the right strategy in place.

A custom trust strategy can help optimize your income tax savings, minimize estate taxes, and support your philanthropic goals. The right advisors will help you navigate the complexities of trust planning and ensure that your strategy fits your family’s needs.

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.

November 13, 2024

NEWS, PODCASTS

Ep. 102: From Planning to Profit: The Centura Wealth Approach

Managing significant wealth comes with complexities that go beyond basic financial planning. For ultra-high-net-worth families—those with a net worth of $20 million or more and annual incomes exceeding $2 million—building a lasting legacy requires a strategic and personalized approach. At Centura Wealth Advisory, Derek Myron and Sean Clark specialize in crafting solutions tailored to the unique needs of business owners, C-suite executives, and other high-net-worth individuals.

In a recent episode of the Live Life Liberated podcast, Derek and Sean shared insights into Centura’s distinctive service model, their approach to investment and tax strategies, and how they help clients optimize their wealth to create long-term financial security.

Tune in below:

Understanding the Unique Needs of Ultra-High-Net-Worth Families

Traditional financial planning isn’t enough for those with complex wealth. Business ownership, real estate investments, and tax-efficient wealth transfer require a deeper level of expertise.

Centura Wealth Advisory takes a holistic approach to financial management, ensuring that every aspect of a client’s financial picture is optimized. Whether planning for the sale of a business, structuring generational wealth transfers, or maximizing tax efficiency, their strategies go beyond cookie-cutter solutions.

“Our service model is designed to help ultra-high-net-worth families not only manage their wealth but also maximize its impact, both for their lifetime and for future generations,” Derek explains.

The Liberated Wealth Planning Process: A 5X Approach

One of the cornerstones of Centura’s strategy is their Liberated Wealth Planning Process, which aims to deliver five times the return on costs by focusing on tax mitigation, balance sheet optimization, and strategic investment planning.

Sean breaks it down:

“We’re not just managing assets. We’re integrating a full-picture approach that includes investment planning, tax strategy, estate structuring, and business transition planning. The goal is to create efficiencies that significantly increase the value we provide.”

This process helps clients retain more of their wealth by minimizing unnecessary taxes and ensuring assets are working as effectively as possible.

Helping Business Owners Plan for Their Next Chapter

Many of Centura’s clients are business owners preparing for a sale or transition. These transitions require more than just financial projections—they need a clear roadmap for maximizing liquidity while minimizing tax burdens.

“We specialize in helping entrepreneurs who are considering selling their companies. Our planning ensures that when they do exit, they’re in the best financial position possible,” Derek says. “That means structuring deals wisely, considering tax implications, and ensuring their wealth is aligned with their long-term goals.”

By addressing everything from estate planning to reinvestment strategies, Centura helps business owners confidently move into the next phase of their financial lives.

Balancing Personalization with Exclusive Investment Access

One of Centura’s key differentiators is what Derek calls the “Goldilocks” approach—being small enough to provide highly personalized service but large enough to offer clients exclusive alternative investment opportunities.

“A lot of firms are either too small to offer meaningful opportunities or too large to provide truly customized strategies,” Sean explains. “We bridge that gap by ensuring our clients get both.”

These alternative investment opportunities can include private equity, real estate, and tax-efficient vehicles that go beyond traditional stock and bond portfolios. The goal is to maximize returns while maintaining a strategy aligned with each client’s risk tolerance and long-term vision.

Transparency and Trust: The Foundation of Client Relationships

At Centura, building long-term relationships based on trust and transparency is a top priority. From the first client meeting through ongoing wealth management, communication and clarity remain central to their process.

“We want clients to know exactly what they’re getting from us at all times,” Derek emphasizes. “That means clear reporting, open discussions about investment strategies, and a process that prioritizes their best interests.”

This commitment to transparency ensures that clients feel confident in their financial strategies and trust that Centura is always acting in their best interests.

Key Takeaways from the Discussion:

Specialized Planning for Business Owners: Centura helps entrepreneurs maximize their wealth before and after selling their businesses.
The Liberated Wealth Process: Designed to provide a 5X return on costs through strategic tax and investment planning.
Exclusive Investment Access: Personalized services paired with alternative investment opportunities.
The “Goldilocks” Firm Philosophy: Large enough to access meaningful opportunities, small enough for personalized attention.
Transparency and Trust: A client-first approach that ensures clarity in planning and execution.

For ultra-high-net-worth individuals looking to optimize their financial strategies, Centura Wealth Advisory offers a unique blend of expertise, personalized service, and exclusive opportunities. By focusing on long-term wealth preservation and tax-efficient planning, they help clients turn financial success into a lasting legacy.

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.

October 24, 2024

NEWS, PODCASTS

Ep. 101: The Leadership Approach Driving Centura’s Success

What’s the secret to cultivating a workplace where people are empowered, engaged, and driven to succeed?

At Centura Wealth Advisory, it all starts with a commitment to core values and a leadership approach rooted in trust and open communication.

Krystal Puryear, SHRM-CP, Director of People and Culture, and Nicole Hubbs, Talent Acquisition Specialist, share how Centura has built a thriving culture by focusing on transparency, excellence, integrity, passion, and respect.

From using Radical Candor to foster trust and autonomy to creating opportunities for employee growth and innovation, this conversation provides valuable insights for any business leader or HR professional looking to strengthen their organizational culture.

Tune in below to learn more.

The Role of Core Values in Shaping a Thriving Work Environment

At Centura Wealth Advisory, core values play an essential role in creating an engaging and empowering workplace. Krystal, who oversees all things People and Culture, emphasized how the company’s values shape its workplace dynamic:
“We have a set of core values that really define who we are as an organization. These values are the foundation of everything we do and the way we interact with our team members.”

The core values of Centura include transparency, excellence, integrity, passion, and respect—values that guide their day-to-day operations and contribute to a culture where employees feel supported and encouraged to reach their full potential.

The Power of Radical Candor in Building Trust and Autonomy

A standout aspect of Centura’s leadership approach is the use of Radical Candor. This method, popularized by Kim Scott, emphasizes clear and direct communication, while also showing care and respect for individuals. Krystal and Nicole discussed how Radical Candor helps create a culture of trust and autonomy, where employees feel empowered to share their opinions and take ownership of their work.

Krystal explained,
“Radical Candor allows for open communication between all team members and helps us foster trust. It also gives our employees the autonomy to make decisions and innovate. When they feel trusted, they’re more likely to take ownership and contribute in meaningful ways.”

This trust-building approach encourages employees to take initiative, ask for feedback, and embrace opportunities for growth—ultimately contributing to the company’s success.

Executive Coaching and Leadership Development

One key element of Centura’s success is its investment in leadership development. Both Krystal and Nicole shared how the company emphasizes coaching and mentorship to foster leadership growth within the organization.

Nicole highlighted the value of executive coaching:
“We believe in investing in our leaders. Whether they’re new to a leadership role or have been in the position for a while, we provide executive coaching to help them continue developing their leadership skills.”

This commitment to leadership development is crucial to creating an environment where managers and leaders can inspire their teams and lead with confidence.

Open Communication and Social Events for Team Bonding

Building trust and transparency extends beyond formal leadership training. At Centura, open communication is encouraged at every level of the organization. This commitment to communication is not just about talking—it’s about listening and making space for honest feedback. As Krystal explained,
“We value open and honest communication, and we always try to create opportunities for our employees to have their voices heard.”

In addition to open communication, Centura fosters strong relationships through social events and team-building activities. These events allow employees to connect on a personal level and strengthen bonds within the team. Nicole shared how social events help reinforce trust and create a sense of community:
“We have regular social events and activities that help strengthen relationships within the team. It’s all about creating a sense of belonging and camaraderie, which ultimately drives engagement.”

Hiring for Culture Fit: Aligning Talent with Company Values

One of the most important aspects of Centura’s culture-building approach is identifying and hiring talent that aligns with the company’s core values. Nicole, who plays a key role in talent acquisition, discussed how she ensures that candidates align with Centura’s culture during the hiring process:
“When we hire, we’re not just looking for skills—we’re looking for people who will embody our core values. It’s about finding talent that’s a good fit for the culture, which is critical to maintaining a positive work environment.”

By ensuring that new hires are a strong cultural fit, Centura sets the stage for long-term success and fosters a cohesive, collaborative workforce.

Encouraging Employee Autonomy and Innovation

A key part of Centura’s culture is empowering employees with the autonomy to make decisions and take initiative. By creating an environment where employees are encouraged to think creatively and innovate, Centura fosters a sense of ownership and responsibility.

Krystal shared how the company gives employees the freedom to grow and take risks:
“We encourage autonomy because we believe that when employees have the freedom to make decisions and explore new ideas, it leads to greater innovation and productivity. It also helps them develop a sense of ownership in their work.”

This approach not only leads to higher levels of engagement but also drives innovation within the company, enabling Centura to continuously improve and adapt to changing market conditions.

The Diamond Team Model: Enhancing Collaboration and Career Development

Centura’s Diamond Team model plays a significant role in enhancing collaboration, knowledge sharing, and career development. Krystal explained:
“The Diamond Team model encourages cross-functional collaboration and allows employees to work on diverse projects. It’s a great way for individuals to learn new skills, share knowledge, and grow their careers within the company.”

This model promotes a collaborative environment where employees from different departments can come together, share ideas, and contribute to the company’s success. It also supports career growth by providing employees with opportunities to gain experience in different areas of the business.

Upcoming Team Events and Celebrations

To further strengthen employee engagement and appreciation, Centura regularly organizes team events and celebrations. These events give employees a chance to relax, bond, and celebrate their achievements together. Krystal and Nicole shared some of the upcoming events planned to show appreciation for the team:
“We always look for ways to celebrate our team. Whether it’s a holiday party or a team-building retreat, we want to make sure that everyone feels appreciated and valued.”

These events help reinforce the company’s commitment to creating an engaging and supportive workplace where employees feel recognized for their contributions.

Key Takeaways:

Centura Wealth Advisory’s success is driven by a commitment to core values, a leadership approach rooted in trust, and a focus on employee empowerment. By fostering open communication, encouraging autonomy, and investing in leadership development, Centura has created a culture where employees are engaged, motivated, and passionate about their work. Whether you’re a business leader or an HR professional, the insights shared by Krystal and Nicole provide a roadmap for building a thriving organizational culture that drives success.

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.

October 10, 2024

NEWS, PODCASTS, TAX PLANNING

Ep 100: How a Fractional CFO Can Elevate Your Wealth Strategy

Managing a successful business requires more than just revenue growth—it demands strategic financial oversight, tax optimization, and precise estate planning. If you are not fully capitalizing on your business’s financial strategy, you could be missing out on significant opportunities.

That is why Live Life Liberated is celebrating its 100th episode with a value-packed discussion.

In this episode, host Derek Myron interviews Jonny Borok, a highly experienced fractional CFO, about how these financial experts help business owners achieve investment and estate planning goals with greater precision.

Now, let’s explore what a fractional CFO is, why business owners should consider hiring one, and how they play a critical role in wealth management.

What Is a Fractional CFO?

A fractional CFO is a highly skilled financial executive who works with companies on a part-time or contract basis. Unlike a full-time CFO, who is a permanent employee, fractional CFOs provide strategic financial oversight without the cost of a full-time salary.

They help businesses with:

Financial planning and forecasting
Cash flow management
Tax strategy and reporting
Investment and estate planning
Cross-disciplinary collaboration with wealth managers and tax strategists

For businesses with $5 million or more in revenue, a fractional CFO can bring the expertise needed to optimize financial strategy while freeing up leadership to focus on growth.

Why Business Owners Should Consider a Fractional CFO

Many business owners struggle with financial complexity, whether it is managing cash flow, reducing tax burdens, or planning for long-term wealth preservation.

A fractional CFO provides:

Strategic oversight – Aligns business goals with smart financial planning.
Cross-industry expertise – Brings best practices from various industries.
Tax efficiency – Works with tax strategists to minimize liabilities.
Estate planning insights – Ensures business assets transition smoothly to the next generation.

By working alongside wealth managers, accountants, and legal experts, a fractional CFO helps ensure that every aspect of your financial life is coordinated.

How Fractional CFOs Support Investment and Estate Planning

Estate planning and investment strategies go hand in hand. Business owners often accumulate substantial assets, but without proper planning, much of that wealth could be lost to taxes, legal fees, and inefficient structuring.

Here is how a fractional CFO can help:

1. Optimizing Tax Strategies

Identify tax-saving opportunities through entity structuring.
Implement deductions and deferrals to reduce taxable income.
Work with estate planners to minimize estate and gift taxes.

2. Improving Financial Reporting for Smarter Decisions

Establish reliable financial systems to track assets and liabilities.
Provide transparency for investors, partners, and future heirs.
Ensure accurate reporting for tax compliance and wealth preservation.

3. Enhancing Liquidity and Cash Flow Management

Find ways to unlock capital without disrupting operations.
Manage debt and financing strategies for long-term sustainability.
Ensure cash reserves align with business growth and personal wealth goals.

4. Coordinating with Wealth Managers and Legal Teams

Align investment decisions with estate planning goals.
Structure business ownership for smooth succession planning.
Protect business and personal assets from legal risks.

Who Benefits Most from a Fractional CFO?

This strategy is ideal for:

Business owners who need financial leadership but do not want to hire a full-time CFO.
Entrepreneurs with complex tax and estate planning needs.
Companies preparing for a sale, merger, or transition.
Families looking to structure multi-generational wealth.

Whether you are looking to scale your business, optimize taxes, or safeguard your legacy, a fractional CFO can provide the expertise to make smarter financial decisions.

Final Thoughts: The Power of a Unified Financial Strategy

A fractional CFO is more than just a financial consultant—they are a key partner in your overall wealth strategy. By collaborating with wealth managers, tax strategists, and estate planners, they ensure that every financial decision aligns with your long-term goals.

To explore how a fractional CFO could help elevate your business strategy, tune in to the latest episode of Live Life Liberated.Listen now: Elevate Your Business Strategy: The Strategic Value of a Fractional CFO (Ep. 100)

September 24, 2024

NEWS, PODCASTS, TAX PLANNING

Ep 99: Is Your Business Missing Out on Thousands in Tax Savings?

Many small business owners miss out on significant tax savings each year simply because they’re unaware of certain deductions. One of the most overlooked opportunities is the Qualified Business Income (QBI) deduction. This powerful tax break, introduced in the 2017 Tax Cuts and Jobs Act, allows eligible business owners to deduct up to 20% of their qualified business income—but many fail to claim it due to poor planning or lack of proper advisory support.

In a recent episode of Live Life Liberated, hosts Greg Klipstein and Samantha Lawrence break down the QBI deduction, explain why it’s often missed, and discuss how business owners can maximize their tax savings.

Read on to learn more.

What Is the QBI Deduction?

The QBI deduction was created as a response to corporate tax cuts that primarily benefited large businesses. The goal was to ensure small business owners—who employ over 75% of the U.S. workforce—could also receive tax relief.

Eligible business owners can deduct up to 20% of their qualified business income, significantly lowering their taxable income. However, not all businesses qualify, and certain income limitations and restrictions apply.

Who Qualifies?

Sole proprietorships
Partnerships
S corporations
Some real estate investors

Who Doesn’t Qualify?

C corporations
High-income earners in specified service trades (lawyers, doctors, consultants) above income thresholds

Despite its potential, many businesses fail to claim this deduction. Why? Let’s explore the most common reasons.

Why Do Business Owners Miss the QBI Deduction?

Many small business owners either don’t know about the deduction or assume it doesn’t apply to them. Here are the biggest reasons why it’s often overlooked:

1. Incorrect Business Structure

One of the main reasons businesses miss out on the QBI deduction is because their entity type doesn’t qualify. C corporations, for example, are not eligible. Some S corporations may also miss out if they don’t allocate income correctly between salaries and distributions.

2. Poor Tax Planning

Many business owners focus only on year-end tax preparation rather than proactive tax planning throughout the year. Without a strategy, they may exceed income limits that phase out the deduction.

3. Lack of Proper Advisory Support

If your accountant or tax advisor isn’t actively looking for ways to minimize your tax burden, you could be losing money. Some advisory teams don’t fully understand how to structure businesses to maximize deductions like QBI.

4. Failure to Amend Past Tax Returns

Did you miss the deduction in prior years? You may still have time to correct it. Businesses can amend previous tax returns and claim unclaimed deductions, putting real money back in their pockets.

How to Ensure You Maximize Your QBI Deduction

To take full advantage of the QBI deduction, business owners need a proactive approach. Here’s how you can ensure you’re getting the most out of this tax break:

1. Work with a Knowledgeable Tax Advisor

A tax professional who specializes in small business taxation can help identify whether you qualify and how to structure your income to maximize the deduction.

2. Review Your Business Structure

If your current structure isn’t allowing you to claim the deduction, it may be time to restructure your business entity. Switching from a C corporation to an S corporation or partnership might make sense.

3. Monitor Income Levels

Since the QBI deduction phases out at higher income levels, keeping taxable income below the threshold is key. Tax-efficient strategies, such as retirement contributions or reinvesting in the business, can help manage taxable income.

4. Correct Missed Deductions

If you didn’t claim the QBI deduction in previous years, it may not be too late. Talk to your tax professional about amending past returns to recover lost savings.

5. Consider the Bigger Picture

Missing the QBI deduction could be a sign that you’re also missing other tax-saving opportunities, such as retirement plan contributions, business expense deductions, and depreciation benefits. A holistic tax strategy is essential.

Should You Reevaluate Your Advisory Team?

If your current CPA or financial advisor hasn’t discussed the QBI deduction with you, it might be time to find a better advisory team. Many business owners don’t realize they’re overpaying in taxes simply because their advisory team isn’t proactive enough.

A strong tax and financial team should:

Regularly review tax-saving opportunities with you
Help you structure your business for maximum deductions
Advise you on income thresholds and tax-efficient strategies
Ensure you don’t leave money on the table

Take Action Today

The complexity of tax laws often leads to missed opportunities, but the QBI deduction is too valuable to ignore. Don’t let poor planning or lack of advisory support cost you thousands in unnecessary taxes.

To learn more about optimizing your tax strategy, tune in to Live Life Liberated with Centura Wealth Advisory. Listen to the full episode 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.

Connect with our team today to learn how we can help you navigate complex financial decisions and secure your financial future with confidence.

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.

September 5, 2024

An image of a multifamily apartment building to illustrate the focus of this article Investing in Multifamily Real Estate

NEWS, PODCASTS

Ep. 98 Investing in Multifamily Real Estate with Rob Ireland

Why Multifamily Real Estate Is a Smart Investment

Multifamily real estate has long been recognized as a resilient and potentially lucrative asset class. In a recent episode of Live Life Liberated, Chris Osmond, CFA, CAIA®, CFP®, Chief Investment Officer at Centura Wealth Advisory, sat down with Rob Ireland, Managing Director at Continental Realty Assets (CRA), to explore the advantages, strategies, and market trends shaping multifamily investments today.

In this discussion, they break down how strategic real estate investments can enhance portfolio diversification, reduce tax liabilities, and capitalize on long-term housing demand.

The Strategic Benefits of Multifamily Investing

According to Rob Ireland, multifamily real estate remains a strong investment choice due to its necessity-driven demand. “You don’t necessarily need a place to work anymore. You don’t necessarily need to have a brick-and-mortar store to sell your product, but you need a place to live,” he explains.

Some key advantages of investing in multifamily real estate include:

Tax Efficiency: Investors can leverage depreciation, cost segregation analysis, and capital gains treatment to enhance returns.
Steady Demand: Housing is a fundamental need, with supply constraints further driving long-term demand.
Resilience in Market Cycles: Multifamily real estate has historically outperformed other commercial real estate asset classes.

Navigating Market Challenges & Opportunities

Despite current economic fluctuations, CRA remains optimistic about multifamily real estate. “Single-family homes are simply unaffordable for many,” says Ireland. “There’s a $680 delta between the cost to own a home and the cost to rent, so demand for multifamily housing remains strong.”

However, the market is not without challenges. Ireland notes that “high financing costs have slowed down new housing developments, which will compound the supply-demand imbalance in the coming years.” For investors, this creates an opportunity to acquire assets at a discount before the market corrects.

Centura & CRA: A Strategic Partnership

One of Centura’s guiding principles is ensuring strong alignment between investors and asset managers. “When we make any investment, particularly in alternatives, we want to establish a win-win-win outcome: a win for our clients, a win for our asset managers, and a win for Centura,” explains Osmond.

CRA’s rigorous market research and data-driven approach align well with Centura’s investment philosophy. “We look at job-to-permit ratios, affordability metrics, and economic trends before making any acquisition decision,” says Ireland. “We treat every market like a stock analyst would approach equities, ensuring we invest in the right locations at the right time.”

The Long-Term Outlook for Multifamily Investing

As interest rates stabilize and new supply dwindles, Ireland sees significant upside for investors in the coming years. “We believe that in 2025 or 2026, some markets may see double-digit rent growth again,” he predicts.

Quoting Warren Buffett, Ireland emphasizes, “Be fearful when others are greedy, be greedy when others are fearful. Right now is one of the best times in the last 20 years to invest in multifamily real estate.”

Learn More

For those interested in multifamily real estate investments and Centura’s approach, connect with Centura Wealth Advisory or reach out to CRA for more insights.

August 21, 2024