Greg Sullivan – Wealth Planning!
Quick-Show Notes:
In this episode of The Millionaire’s Lawyer, JP and Greg Sullivan discuss:
Greg Sullivan states that the Financial Planning industry has changed in the following ways since COVID-19:
- A higher level of uncertainty
- Largest Financial deficit the Government has been in
Numbers are the easy part, it is the client’s emotions that are the hard part.
The best investment portfolios are the ones that are diversified. The more diverse the portfolio, the more return you should see.
Over the next 10 years, the top 10 will have changes, and only two may stay.
Real Estate:
- Great Asset
- How would you want to own?
- If you have numerous Rental Properties you may want to look into incorporation an LLC (Limited Liability Company).
Greg had created a corporation based on what he would want in a financial planner, and has defined a new way of doing things that is now the norm!
Greg Sullivan ‘s business has been built of referrals, and client retention is astronomical. SBSB really takes on the clients and all the client’s financial needs.
- Wealth Planning
- Taxes
- Estate
- Retirement
- And much more!
Make sure you have done your correct due diligence. Do due diligence even on the financial advisor you are going to see, you want to be sure and know you are making the right choice.
Things to think about:
- Set up a proper portfolio
- Children – make them still have to earn things; do not allow them to feel entitled to be on the payroll for their lifetime,
Banks are strapped with regulation and compliance and are way more complicated than working with an independent advisor.
Harder to make decisions within the bank since there are more staff to consider and more parties needing to be involved.
Independent planners have more freedom and fewer hoops to jump through.
Key Takeaways
From this episode of The Millionaires Lawyer with Greg Sullivan:
- Greg suggests to think of all investments as a 10-year investment, not a 10-day investment.
- Risk is an element of time
- Don’t sell your portfolio when down, let things bounce back!
- Make sure you do your correct due diligence