Tag: Dear Rochester Retire Well
Investment Takeaways From 2023 and What to Expect in 2024 with John Harms (Ep. 74)

Investment Takeaways From 2023 and What to Expect in 2024 with John Harms (Ep. 74)

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Welcome to an insightful episode featuring John Harms, Partner and Investment Advisor Representative at SixPoint Financial Partners. In this engaging conversation, John reveals what prompted him to embark on investment planning. Furthermore, he offers a thorough recap of the investments and market dynamics of 2023.

As the episode unfolds, he discusses common mistakes observed among clients throughout the year, providing valuable lessons for all investors. Gain valuable knowledge as John addresses the critical question: When is the right time to exit a stock? Uncover practical guidance on navigating stock market fluctuations and making informed decisions.

As we wrap up, John shares his insights on what investors can anticipate in the upcoming year, equipping listeners with essential information to prepare for the challenges and opportunities ahead. 

Watch The Full Episode on Youtube: https://youtu.be/c_WM6r8dmCU

During this episode, you will learn about:

[01:09] Introducing today’s guest, John Harms
[02:19] What prompted John to embark on investment planning?
[04:57] https://sixpointfp.com/
[05:35] A recap of 2023 investments and the market dynamics
[13:52] How often does he review the client’s performance?
[19:35] Mistakes John has seen from clients this year
[23:44] What is the right time to exit a stock?
[30:05] What to look forward to in 2024
[36:27] Best way to get in touch with John Harms

Website: https://sixpointfp.com/

Key Takeaways:  

  • Most of the significant positive market days occur after major market declines. [19:57]
  • One of the best times to invest more money in the market is typically when it’s down by 30% [26:12]
  • As goes January, so goes the year. [28:51]

Book Time with David Pulcini:

Connect with David Pulcini:

Connect with John Harms:

View The Full Episode Transcript Here

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Tailoring Success: Adrian Jules’ Journey to Becoming Rochester’s Premier Clothier with Peter Roberti (Ep. 72)

Tailoring Success: Adrian Jules’ Journey to Becoming Rochester’s Premier Clothier with Peter Roberti (Ep. 72)

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Are you tired of settling for off-the-rack clothing that doesn’t quite fit your style or personality?

In this episode, David Pulcini speaks with Peter Roberti, one of the owners of Adrian Jules Custom Clothier, a Rochester-based business specializing in custom clothing. Peter goes over the company’s history, its recent successful expansion during the COVID-19 pandemic, and the personalized service they offer. Comparing his business to financial advising, he emphasizes the importance of understanding a client’s lifestyle and preferences to create a personalized plan. As well as providing advice on growth, Peter outlines the importance of having a clear vision for business owners.

David and Peter talk about: 

  • Peter’s background and the history of Adrian Jules
  • How he managed to open a new showroom during the COVID-19 pandemic and why he did it
  • What niche Adrian Jules serves and what their process looks like
  • How Adrian Jules stands out from other clothiers
  • How the biggest challenge of the business shifted from searching for clients to searching for tailors
  • How business owners can achieve success by stepping outside of their comfort zone and regularly reassessing their business
  • Advice for business owners who may be struggling or are just starting out
  • And more

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Peter Roberti:

About our Guest: 

Peter Roberti is a Master Tailor, Custom Clothing Designer, and co-owner of Adrian Jules Custom Clothier. Adrian Jules Ltd. has been featured in various forms of media, specifically in magazines such as Sports Illustrated, Playboy and The Robb Report. Through clothing they get to help their clients become the best version of themselves. When working with them, their clients will find that they will always be giving off the right impression to the public. They make it convenient for their clients to do all of their professional and casual shopping needs, while enhancing their lifestyle. They make the fitting process easy and simple by keeping each individual client pattern on file in their factory.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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Are You Maximizing Your Tax Savings? with Trevor Smith (Ep. 71)

Are You Maximizing Your Tax Savings? with Trevor Smith (Ep. 71)

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In a world where financial decisions are becoming increasingly complex, understanding the nuances of tax planning has never been more critical.

In this episode, David Pulcini is joined by Trevor Smith, CPA, to talk about tax planning. Together, they go over some of the different year-end tax planning ideas that an advisor can help you with so you can pay less in taxes, now and in the future. They explore 3 of the 20  strategies for maximizing tax savings on their tax planning checklist, including Roth conversions and harvesting losses. They also touch on the backdoor Roth IRA strategy for high-income earners. 

Their conversation emphasizes the need for a financial professional who specializes in tax planning to handle complex tax matters.

David and Trevor talk about: 

  • How Trevor got into the financial services industry and what led him to tax preparation
  • The hardest part of the CPA process
  • What they do with clients’ tax returns when they receive them
  • Three of the most important parts of their tax planning checklist
  • What a Roth conversion is and how much you can convert
  • What tax loss harvesting is
  • What the “backdoor Roth IRA” is and some of the common mistakes they’ve seen people make with them
  • And more

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Trevor Smith:

About our Guest: 

Trevor Smith is a seasoned CPA specializing in retirement income and tax optimization. He is committed to helping clients secure their financial future. His mission is to create tailored retirement income plans while minimizing their tax liabilities, ensuring they keep more of what they’ve earned. Trevor provides personalized solutions, upholds the highest professional standards, and empowers clients with financial knowledge. He aims to start their journey towards financial freedom and a worry-free retirement. In 2017, Trevor graduated from State University of New York at Fredonia with a Bachelor of Science in Public Accountancy and Business Administration with a concentration in Finance. Trevor has an active CPA (Certified Public Accountant) license with the state of New York. In addition to his career as a CPA/Advisor, Trevor is an avid golfer and fitness enthusiast. He and his wife, Rachel, are proud season ticket holders for the Buffalo Bills, sharing unforgettable moments cheering for their team. They are also passionate supporters of the Buffalo Sabres. These experiences add a dynamic balance to Trevor’s life, and his genuine love for helping clients succeed is his driving force.

 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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Purchasing Practices Part 3: The Capstone With Joe Prestigiacomo, CFP® (Ep. 70)

Purchasing Practices Part 3: The Capstone With Joe Prestigiacomo, CFP® (Ep. 70)

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What information and documents do you need to make a real offer when buying a financial practice?

In this episode, David Pulcini and Joe Prestigiacomo from Six Point Financial Partners end off the Purchasing Practices series by outlining the various documents they need in order to buy a practice. They discuss why the training 12 and profit loss statement documents are the two most important documents to have when selling and buying a practice. 

David and Joe also explain the importance of evaluating client demographics, knowing what software is being used, what the review process is, and why client communication is especially important when purchasing an advisory firm.

David and Joe talk about: 

  • Information and documents needed to make a real offer when buying a financial practice
  • Understanding where the business’s income is coming from
  • How the profit and loss statement as crucial in determining the value of the practice
  • Why they need to keep track of their client demographics and breakdown of assets
  • Why having a client communication system in place is essential to a successful purchase process
  • The importance of a marketing plan, maintaining relationships with clients and centers of influence, and having a transition team in place
  • And more

Resources:

Our Onboarding Checklist: What It Is And How You Can Use It (Ep. 65)

Purchasing Practices Part 1: Our Process With Joe Prestigiacomo, CFP® (Ep. 68)

Purchasing Practices Part 2: Answering Our FAQ With Joe Prestigiacomo, CFP® (Ep. 69)

Book Time with David Pulcini:

Connect with David Pulcini: 

About our Guest: 

Joe Prestigiacomo, CFP®, Partner at Six Point Financial, began his career in the financial services industry in 2012, and today he provides comprehensive financial guidance to clients. Joe focuses on developing retirement income strategies and personalized risk management assessments and solutions. Along with his knowledge and experience, his commitment to an outstanding level of client service is an integral part of his practice that he prides himself on. By developing a deep understanding of his clients’ individual situations, Joe is able to help them make well-informed financial decisions with confidence.

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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Purchasing Practices Part 2: Answering Our FAQ With Joe Prestigiacomo, CFP® (Ep. 69)

Purchasing Practices Part 2: Answering Our FAQ With Joe Prestigiacomo, CFP® (Ep. 69)

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So you’re ready to retire and want to sell and transition your practice, but you have a few questions. Well, guess what? We have answers.

In this episode, David Pulcini and Joe Prestigiacomo from Six Point Financial Partners discuss the process of buying practices and answer frequently asked questions from advisors looking to sell their businesses or have a succession plan. They cover topics such as the process for buying a practice, keeping staff during the transition, and how to transition clients. They emphasize the importance of multiple meetings to ensure a good fit, the value of keeping staff members during the transition, and the timeline for transitioning clients.

David and Joe go over: 

  • A brief review of what their practice purchasing process looks like
  • Answers to 6 of the top FAQ questions / If they’ll keep your staff and why
  • How they actually transition clients and how long it takes
  • When and how the advisor gets paid when they transition their practice
  • What they’ll do with your office
  • What they need from you for the transition
  • Whats coming up next on Dear Rochester, Retire Well
  • And more

Resources:

Purchasing Practices Part 1: Our Process With Joe Prestigiacomo, CFP® (Ep. 68)

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Joe Prestigiacomo

About our Guest: 

Joe Prestigiacomo, CFP®, Partner at Six Point Financial, began his career in the financial services industry in 2012, and today he provides comprehensive financial guidance to clients. Joe focuses on developing retirement income strategies and personalized risk management assessments and solutions. Along with his knowledge and experience, his commitment to an outstanding level of client service is an integral part of his practice that he prides himself on. By developing a deep understanding of his clients’ individual situations, Joe is able to help them make well-informed financial decisions with confidence.

 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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Purchasing Practices Part 1: Our Process With Joe Prestigiacomo, CFP® (Ep. 68)

Purchasing Practices Part 1: Our Process With Joe Prestigiacomo, CFP® (Ep. 68)

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Are YOU prepared for retirement? A lot of financial advisors aren’t.

In this episode, David Pulcini brings on Joe Prestigiacomo, CFP®, Partner at Six Point Financial, to talk about the importance of succession planning for financial advisors. They explain the process of transitioning a financial practice and emphasize the benefits of partnering with an independent firm. Joe and David also discuss the timeline and financial aspects of the transition, as well as the importance of maximizing earnings and minimizing taxes.

David and Joe discuss: 

  • Why it’s important for advisors to have a succession plan
  • The benefits of partnering with a real team outside of a captive firm or wirehouse
  • The 6-stage timeline for advisors interested in selling their businesses to Six Point Financial Partners
  • And more

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Joe Prestigiacomo

About our Guest: 

Joe Prestigiacomo, CFP®, Partner at Six Point Financial, began his career in the financial services industry in 2012, and today he provides comprehensive financial guidance to clients. Joe focuses on developing retirement income strategies and personalized risk management assessments and solutions. Along with his knowledge and experience, his commitment to an outstanding level of client service is an integral part of the practice that he prides himself on. By developing a deep understanding of his clients’ individual situations, Joe is able to help them make well-informed financial decisions with confidence.

 Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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Unlocking the Secrets of Effective 401(k) Management (Ep. 67)

Unlocking the Secrets of Effective 401(k) Management (Ep. 67)

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Thinking about setting up a retirement plan for your business but confused by all the options? 

Join David Pulcini and retirement plan expert Austin Spite as they unravel the best strategies for business retirement planning. Austin shares invaluable insights from nearly a decade of experience in the broader benefits industry, including the common pitfalls, legal challenges, and best practices you should be aware of.

In this episode, you’ll discover:

  • How many business owners end up with the wrong type of retirement plans and the implications of these choices
  • Why benchmarking is crucial to ensuring your plan is competitive and compliant
  • The potential risks of non-compliance in managing 401(k) plans and how to mitigate them
  • The role of financial advisors in plan selection and management, including fee transparency
  • And more!

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Connect with Austin Spite:

About our Guest: 

Austin Spite is the Senior Partner Account Manager at Human Interest, where his mission is to streamline and simplify the retirement benefits industry.  He brings an extensive background in 401(k) operations and group health benefits to the table. Austin works closely with Payroll Providers, Benefits Brokers, Financial Advisors, and CPAs. He aims to replace clunky, outdated, and overpriced retirement products with easy and straightforward solutions.

 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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How Much Money Is Enough To Retire On? (Ep. 66)

How Much Money Is Enough To Retire On? (Ep. 66)

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How much money is enough to retire comfortably?

In this episode, David Pulcini explains how you can figure out how much money is enough to retire comfortably. He outlines a simple four-step process to help you figure out your retirement number. David also mentions the 4% rule of thumb for safe withdrawals and emphasizes the importance of adjusting investments, retirement length, and withdrawal amounts based on market conditions.

David discusses: 

  • A 4-step outline for finding your retirement number
  • How to calculate your current expenses and future expenses in retirement
  • Where will your retirement income come from
  • How to fill the gap between your financial expenses and retirement income
  • What the 4% rule is
  • How to determine what amount you need in order to be able to take 4% to fill the gap
  • And more

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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Our Onboarding Checklist: What It Is And How You Can Use It (Ep. 65)

Our Onboarding Checklist: What It Is And How You Can Use It (Ep. 65)

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In a previous episode, David mentioned the onboarding checklist that we use when we engage with new clients. Let’s go over that list and talk about how you can use it when you’re working with a financial advisor.

In this episode, David Pulcini discusses the importance of building processes and systems in business. He shares his experience of starting financial planning and realizing the need for systematizing and creating processes and emphasizes that building processes and systems can benefit any business, regardless of the industry. David introduces the onboarding checklist, a one-page PDF with 14 items to check off when engaging with a new client, and highlights the importance of consistent communication and providing value to clients.

David discusses: 

  • Why building processes and systems is important in any business
  • Examples of various industries that can benefit from organized systems
  • What his onboarding checklist for new clients looks like
  • And more

Resources:

Book Time with David Pulcini:

Connect with David Pulcini: 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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What To Do With Money Sitting In The Bank (Ep. 64)

What To Do With Money Sitting In The Bank (Ep. 64)

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If you have money sitting in the bank, it’s likely a depreciating asset. How can you get it to stop depreciating and start accumulating?

In this episode, David Pulcini addresses a common question he gets asked, “I have cash sitting in the bank, basically earning nothing. What can I do with it?” David gives various options to suit different situations, emphasizes the urgency of cash holdings, and cautions against trying to time deposits into investment accounts.

David discusses: 

  • The history of interest rates and the current situation of low-interest rates on cash in the bank
  • The potential loss of value due to inflation rates rising
  • Why paying off debt is the first thing you should do with any cash sitting in your bank account
  • Where and when to invest your money
  • Why you need to consider the goal of your money before deciding where to invest
  • The importance of taking potential taxes into consideration
  • And more

Book Time with David Pulcini:

Schedule a Call

Connect with David Pulcini: 

Securities offered by Registered Representatives of Private Client Services. Member FINRA / SIPC. Advisory services offered by Investment Advisory Representatives of RFG Advisory, a registered investment advisor. Private Client Services, Six Point Financial Partners, and RFG Advisory are unaffiliated entities. Advisory services are only offered to clients or prospective clients where RFG Advisory and its representatives are properly licensed or exempt from licensure. No advisory services may be rendered by RFG Advisory unless a client agreement is in place.

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