Ep. 4 - Unraveling the Financial Advisor World, Retirement Planning, and How Estate Planning Meshes with Financial Planning
In this episode of the Good Steward Law and Wealth podcast, host Ledly Jennings welcomes Ian Weiner of Bespoke Wealth Solutions to dive deep into the world of financial advisory, retirement planning, and the often-overlooked connection between estate and financial planning. They explore the three critical phases of financial life—Accumulation, Preservation - Distribution or Retirement, and Legacy, and how understanding them can set you up for a secure financial future. Ian also sheds light on a critical but little-discussed topic: provisional income and its impact on your Social Security taxes in retirement. Tune in to learn how these strategies can help protect your legacy and ensure long-term financial stewardship.
IN THIS EPISODE:
- [0:26] Ledly welcomes Ian, and they discuss how they met and their shared interest in wine
- [3:36] Ian shares what excites him about the work he does and how he became interested in financial planning
- [10:05] Ian explains the difference between the big box world of financial advisors versus Bespoke Wealth
- [17:04] Once you understand the differences in advisors, Ian now explains the conflicts of interest and what are the various ways advisors can charge
- [29:50] Discussion of a low expense ratio on individual funds and hidden costs
- [34:42] Ian discusses investing in retirement and how taxes can be the most significant expense in retirement if you are not careful
- [40:13] Ian advises the listener on the one test to ask your financial advisor – How is provisional income going to affect me in retirement
- [45:25] Ian answers rapid-fire questions
KEY TAKEAWAYS
- The Sunset Law will take effect in 2026, and it is essential to pay attention to the candidates running in this year's election. They all have different views that may have tax consequences
- Advisors must technically disclose to the client when acting in a brokerage or RIA capacity
- In retirement, it’s not how much you earn; it’s how much you keep
RESOURCES:
GUEST BIOGRAPHY:
I'm Ian, I help discerning investors, families and business owners take back as much of their time as possible, while making sure they don't miss out on investment opportunities, and tax strategies to keep more of their wealth and pay as little as possible to Uncle Sam.
The way we'll work together is a bit different than what most people are used to, or expect from a financial advisor. Here's how we create a team that works for YOU:
We act as a Personal CFO (Chief Financial Officer) for you or your family / business. We help you build and manage your "Wealth Team" - the group of specialists that guides through every financial area: Tax preparation, Investments, Real Estate, Banking, Estate Planning, Corporate Law, Insurance, etc.
Most people we talk to have accumulated various professionals in these disciplines over time, and each one exists in their own "silo", and rarely do they communicate, let alone work together to make sure you're not missing out on any strategies or opportunities.
We come and help you make sure:
1. Those specialists are all "A" players - they are experts in their field, and they're proactive.
2. They work together and communicate.
We take over as the main point of contact for your "Wealth Team" so that you don't have to waste time having the same conversation with each one of them to try to get anything done.
We're simply adding a buffer for you - so that you can spend your time on what you enjoy most. When you get a "Pitch" of some product, investment strategy or idea, you simply toss it to us, we'll evaluate it with your team, and then present it to you if we think it makes sense. If it doesn't - you don't have to worry about it again.
Time is your most precious resource, we help you keep it, and spend it well.
Connect with me to request a Strategy Session
ABOUT THE HOST:
Attorney Ledly Jennings, founder of L. Jennings Law, specializes in protecting legacies and ensuring smooth transitions of personal and business assets. With offices in Arkansas, his firm offers expertise in estate planning, elder law, probate, and business planning. With a J.D. and MBA, plus valuable experience at Stephens, Inc., the state's largest investment bank, Ledly serves high-net-worth clients and family businesses statewide.
