The Ballast Life: Recent Episodes
Ballast, Inc.
The Ballast Life is a series of conversations that are intended to highlight respected professionals and community leaders within the central Kentucky area, as well as important topics that are necessary to achieving financial cohesion.
Important Disclosure: past performance does NOT guarantee future results.
Ballast, Inc. (“Ballast”) is a registered investment advisor. Certain advisory persons of Ballast are also registered representatives of APW Capital, Inc, (“APW”), Member FINRA/SIPC, 100 Enterprise Dr, Ste 504, Rockaway, NJ 07866, 1-800-637-3211. In their separate capacity as registered representatives, securities are offered through APW. Ballast and APW are not affiliated. Check the background of this firm on FINRA’s BrokerCheck.
As pensions have largely been eliminated within the private sector, generational wealth accumulation continues to be a phenomenon impacting more and more families. Whether it be an accumulation from retirement assets, a business sale, or family generational wealth, a large amount of assets has been passed from one generation to the next. Over the next twenty years, a projected $90 TRILLION ($90,000,000,000,000!!) of assets will move within generations.
Historically, Corporate Trustees have been largely associated with ultra-high net worth, young children, and special needs situations. However, as wealth transfers have become more significant to a greater number of families, Corporate Trustees have become more popular again.
Directed Trusteeship, where the Corporate Trustee separates the Fiduciary role with other professionals – Investment Advisors, CPAs, Real Estate Professionals, etc. – is a model that has gained in popularity over the past one or two decades. With a bifurcated relationship, no longer is a beneficiary required to work with a Bank/Trust company who requires the beneficiary to utilize the organization in all aspects of the Fiduciary roles. It is believed that this bifurcation allows beneficiaries to utilize best-in-class roles for each service, rather than a bundle model. It also helps provide greater checks-and-balances to each service provider.
Above is an introductory conversation with Michelle Diamond, an early partner with Cumberland Trust located in Nashville, TN. In this video, we discuss the Directed Trust model and the popularity of a more flexible option for beneficiaries. We would encourage anyone who is considering wealth transfers, generational planning, or asset oversight for the next generation to watch this video.
As always, we are here to be a resource to our clients regarding all aspects of their financial life. Please do not hesitate to reach out to us regarding Trustees, estate planning, or any questions about generational wealth.
About Ballast
We help you optimize the way you accumulate, spend, and give your money. As your life evolves, so do our recommendations. We are here to guide you with expert financial advice that encompasses all aspects of your life. With a foundation rooted in a thorough understanding of your desires, goals, and preferences, we provide you with the leadership, proactivity, and stewardship you need to optimize your financial future.
We take pride in bringing solutions to challenging situations and providing comfort in the unknown.
Andy Reynolds, CFP®, CEPA®, MBA
PARTNER, COO
andy@ballastplan.com
Born and raised in Columbus, Indiana, Andy grew up in a family who believed in two fundamentals: give to others and be the best version of yourself. He and his wife, Laura, have since gone on to instill those values in their children, Harper, Emma Kate, Caroline, and Mack. Whether it is family, clients, or colleagues, Andy’s greatest sense of achievement is in helping others reach their goals and desires.
Andy earned a Bachelor of Science degree from Centre College and a Master of Business Administration (MBA) from the University of Kentucky. He then earned his CFP® (CERTIFIED FINANCIAL PLANNER practitioner) a few years later.
As a Certified Exit Planning Advisor (CEPA®), Andy helps business owners plan for their future by advising on their business growth/exit strategies, personal financial planning, and personal life planning outside of their business. The intentional pursuit of improvement in all three of these areas has helped business owners live a more fruitful and fulfilled life.
Giving back to the community is one of Andy’s passions. He has served in several volunteer roles, including the: University of Kentucky’s MBA Advisory Council Committee, Board Chair and Investment Committee Chair of the Blue Grass Community Foundation, Life Plan of Kentucky Board, President of the Bluegrass Estate Planning Council, and OperaLex Board.
Cumberland Trust was founded in Nashville in 2001 as a better alternative to traditional fiduciaries for trust clients and their advisors. We work alongside our clients and professional advisors to provide exceptional trust and estate administration and attentive support.
Michelle Diamond at Cumberland Trust
Specialty: Business Development, Executive Management Location: Nashville
Michelle Diamond is Chief Development Officer. She joined the Cumberland Trust team in 2001, at the firm’s founding. At Cumberland’s start, Michelle, a Trust Officer, helped to establish the open architecture platform that focuses on helping families and forming partnerships with advisors. Early on, she developed the Special Needs Trust group, serving the needs of client family members with disabilities. As Cumberland Trust grew, Michelle developed the blueprint for expansion into regional markets and she worked to open our nine regional offices. Currently, Michelle manages the business development team, who work in Cumberland Trust’s headquarters and in each of its regional offices. She is responsible for overseeing the development team and its new trust opportunities.
Prior to joining Cumberland Trust, she was a Trust Officer at First Tennessee providing account and administration support to families in the areas of personal trust, employee benefits, and investment management.
Michelle holds a B.A. in Business Administration from Hanover College in Hanover, Indiana. She was awarded the Certified Trust and Financial Advisor Designation (CTFA) and is a graduate of Cannon Trust School, through Cannon Financial Institute.
Michelle is a regular speaker for industry-related events nationwide, and she has been published in The Tennessean.
Learn more about Ballast: https://ballastplan.com/
Learn more about Cumberland Trust: https://cumberlandtrust.com/
Ballast, Inc. is a registered investment adviser with the SEC. Registration with the SEC does not indicate that the adviser has achieved a particular level of skill or ability, nor is it an endorsement by the SEC. All investment strategies have the potential for profit and loss. Ballast, Inc. is not engaged in the practice of law or accounting. Always consult an attorney or tax professional regarding your specific legal or tax situation.
We recently invited local business owners to Ballast for a discussion on topics important to them. This is the video from our meeting.
Topics Include:
- What makes businesses attractive to buyers?
- What is the current state of the private equity market?
- How to separate finances between business and personal?
- How should owners prepare now for life after they sell?
- What are the options for internal transitions vs. external business sales?
Speakers:
- John V. Boardman, Ballast
- Andy Reynolds, Ballast
- Andy Demoss, RFH CPAs and Consultants
- Tyler Garrett, Benchmark International
https://ballastplan.com/ballast-business-owners-forum/
Cameron Hamilton, John Boardman, and Andy Reynolds discuss the market environment, trends, and more in this beginning-of-the-year update.
To kick off the new year, John Boardman (CEO, Founder) and Andy Reynolds (COO, Partner) sat down to recap the economic environment in 2022 and discuss the 2023 outlook.
Topics include:
- Recent economic data and performance
- The 1% of market volatility on trading days
- Market fundaments and the role of the Fed
- Inflation and housing
- Consumer behaviors and spending
- Are we in or heading toward a recession?
- A disciplined financial plan
Watch on YouTube here: https://youtu.be/GC5t2s2V368
Watch other Market Reports here: https://ballastplan.com/ballast-live/
Listen as John Boardman (Founder and CEO of Ballast) and Andy Reynolds (COO and Partner of Ballast) discuss the current market environment. Additionally, John and Andy consider a few common questions and share their thoughts on the cyclical market, inflation, portfolio management, raised rates, and economic outlook. John V. Boardman, III, CFP® FOUNDER / CEO / FINANCIAL ADVOCATE
Andy Reynolds, CFP®, MBA PARTNER / COO / FINANCIAL ADVOCATE If you have any questions, please reach out to us: 859-226-0625 or info@ballastplan.com.
Learn more about Ballast: https://www.youtube.com/redirect?event=video_description&redir_token=QUFFLUhqbWdOa184bVFJalF4UzlSUU1FLV9CV24wOUVhQXxBQ3Jtc0tuRGc2enRPdVd5YnhGT05BX2MxNHBMTU1ISU1XZm5hRVZjdmVjMk9FaWFMRVVyM2hDSFlLMkphdDMwbzFEamNpZUFONnB0OTJCS25JeV9kVUtFUW1HUnlIcVUwQjR1R2F3UlVKZVZQc05yZUdsZG5KMA&q=https%3A%2F%2Fballastplan.com%2F&v=IJy1GLyc94k (https://ballastplan.com/)
Ballast, Inc. is a registered investment adviser with the SEC. Registration with the SEC does not indicate that the adviser has achieved a particular level of skill or ability, nor is it an endorsement by the SEC. All investment strategies have the potential for profit and loss. Ballast, Inc. is not engaged in the practice of law or accounting. Always consult an attorney or tax professional regarding your specific legal or tax situation.
In this episode of The Ballast Life Podcast, the Ballast advocates sat down to share their thoughts on 2020 with the benefit of hindsight, as well as potential head/tail winds that we may experience as 2021 marches along.
In this episode of The Ballast Life Podcast, John and Andy discuss the implications of the the recent US elections, the impact the COIVID-19 vaccine may have on the markets, as well as their predictions for the months to come.
In this episode of The Ballast Life podcast, the Ballast Advocates sat down virtually to break down their favorite articles from our Atheneum anthology. The entire anthology can be downloaded on our website: BallastPlan.com/Book
The SECURE Act is one of the most significant pieces of legislation passed within the past few years. If you have any questions, please do not hesitate to reach out to us at 859-226-0625 or info@ballastplan.com Timestamps: Introduction: 00:00 - 3:24 ROTH IRA Review: 3:25 - 6:50 Beneficiary Payout Strategies: 6:51 - 14:40 Strategies During Retirement: 14:41 - 22:16 Strategies to Achieve the Best Results: 22:17 - 30:52 Estate Planning Chaos: 30:53 - 40:25
In this episode of The Ballast Life podcast, John and Andy sit down at a safe social distance to discuss the current state of the world as it relates to the financial markets and financial planning, as well as what they are watching for in the days to come.
Late last week John and Andy sat down via Zoom to discuss several topics regarding the markets as well as the firm. Topics include their thoughts on recent market behavior, expectations for the economy for the remainder of the year, risks people may not be considering, economic positives of the crisis, and how our business is operating in light of the pandemic.
Earlier this week, Andy Reynolds, our COO and a Financial Advocate, sat down with Dr. Tom Goldsby, a global leader in supply chain management and logistics. Listen their conversation about the current status of our supply chain disruptions, the supply chain reliance on China and other countries, and what the future may bring.
On Tuesday, May 5th, 2020, our Advocates sat down (via Zoom) for a discussion of current economic and market conditions, as well as the potential range of outcomes over the coming months. Listen to our thoughts on how this period compares to the Financial Crisis, how certain industries might be permanently impacted, and how the combined monetary and fiscal response has been received by financial markets.
Brian Burton, Partner and Director of Portfolio Strategy at Ballast, recently sat down with Dr. Philip Overall, Medical Director of Emergency Services at St. Claire Regional Medical Center to discuss what he and his colleagues are facing with the pandemic and what they are doing to help keep themselves and the community safe.
Our CEO, John Boardman, sat down with author and business coach, Adrienne Duffy, to discuss the challenges and opportunities facing all of us during the COVID-19 pandemic. Adrienne has been John’s instructor at Strategic Coach, an Entrepreneurial Coaching Program, for the last seven years.
Andy Reynolds, Ballast’s COO and Financial Advocate, recently sat down with Centre College President Dr. John Roush to discuss the future of college. Listen to their candid discussion on the immediate impacts of COVID-19 and collegiate distance learning, as well as insights into the future of college expenses, debt, and college savings.
Andy Reynolds interviews Dr. Lesley Iwinski, a retired Family Physician and current director of Growing Peaceful Families. Hear their discussion on the current state of healthcare workers, her observations on balancing mental health with physical health, and practical solutions to maintain a healthy mindset amidst these crazy times.
Our Financial Advocates sat down this morning to discuss our thoughts on the economy, markets, investment portfolios, and the coronavirus. Click below to hear our thoughts.
Yesterday, our partners sat down to discuss how we are navigating recent volatility in the markets, the discussions we are having with clients, and planning opportunities.
John Boardman, CEO of Ballast, interviews Dr. Paul Bachner, Professor of Pathology and Laboratory Medicine at University of Kentucky on the current state of the Coronavirus and how it compares to previous viral outbreaks.