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Are You In Awe of Your Advisor’s Sharp Saw? 11.19.2021

According to a 2021 survey conducted by The Harris Poll, about 26% of Americans say their most trusted source for financial advice is a financial advisor, representing an 18% increase from 2020.

With a direct correlation to the shakeup and uncertainties caused by the COVID-19 pandemic, and the highly unsettled nature of the U.S. economy, financial markets, and politics still existing today, it comes as little surprise to see this increasing trust and confidence in the counsel of financial advisors.

Conversely, it is also interesting to note that the most trusted source of financial advice known as “Yourself” experienced a 33% drop (!) from 30% in 2020 to 20% in 2021.

Ask virtually any financial advisor: The data presented above supports the anecdotal evidence – during periods of high volatility and uncertainty, people tend to become uncertain and trust themselves less when it comes to their finances and investing. Conversely, in periods of low volatility, rising markets, and higher (perceived) certainty, people become overconfident. Or, illustrated differently:

Why do investors feel smarter and more confident when the markets are rising, and dumber and less confident when the markets are declining? One word: emotions. At Towerpoint Wealth, we believe that one of the central qualities of a skilled financial advisor is the ability to help their clients remain objective, avoid overconfidence, or, on the flip side, depression and hopelessness.

There are more than 275,000 licensed professionals in the United States right now that have “Financial Advisor” (or some derivation thereof) on their business card, according to the Bureau of Labor Statistics. And as is true of many professions, there are a myriad of makes, models, specializations, and niches that these advisors fall into. Additionally, these 275K financial advisors represent a varying cross-section of experience, planning, knowledge, and service.

A core philosophy here at Towerpoint Wealth has always been to focus on and place energy into the professional growth and development of our advisors. Our clients deserve and expect us to not only stay sharp in regards to current economic, financial, and investment trends and developments, but also to consistently be “sharpening our professional saws” in the areas of practice management, behavioral finance, client service, and leadership.

To that end, our President, Joseph Eschleman, our Partner, Wealth Advisor, Jonathan LaTurner, and our Director of Research and Analytics, Nathan Billigmeier, traveled to Music City last week for a three-day Investments Forum, hosted by Dynasty Financial Partners. The venue, the lineup of talent, and the level of content were truly amazing, and the TPW colleagues spent an enriching and enjoyable three days sharpening their professional saws at the conference.

The highlights included:

Click the thumbnail below to see the full agenda of speakers, activities, and content that, in addition to some Music City fun during the evenings, kept Joseph, Jonathan, and Nathan moving for three days!!

Steve Case

Photo boxes, clockwise from upper left: 1.) Jim Nantz 2.) Joseph, Nathan, Jonathan at Loser’s Bar and Grill in Nashville 3.) Howard Marks, Daymond John, Liz Ann Sonders

New Towerpoint Wealth White Paper

After focusing on the topic in our 11.9.2021 edition of Trending Today, our Director of Tax and Financial Planning, Steve Pitchford, authored and published the below white paper, focusing on THREE key ideas to potentially reduce the tax “sting” associated with IRA and other tax-deferred retirement account required minimum distributions (RMDs).

Click the thumbnail below to download and read this brand-new report!

Video of the Week

Our President, Joseph Eschleman, CIMA®, was the featured guest on Laurel Sagen and Shasta Escalante’s Heart 2 Biz podcast earlier this month.

Heart 2 Biz is a weekly podcast focused on local Sacramento professionals and entrepreneurs who “pour their hearts into their businesses.” Focused on finding out not only how people are building and running their businesses, but how they are doing so with integrity and heart.

Click below to watch the podcast, and to hear Joseph’s story of how the permanent Pennsylvania-to-California cross-country adventure he took in 1999 helped to shape his heart and him as a person; and, how his evolution from employee to business owner and entrepreneur has molded his character and overall outlook on life. It’s a great (and crazy!) story with plenty of interesting twists and turns, confirming what virtually every Towerpoint Wealth client already knows to be true – that the energy Joseph pours into his client partnerships and into Towerpoint Wealth has a foundation based on both integrity and on heart!

What’s Happening at TPW?

The ladies of Towerpoint Wealth (our Client Service Specialist, Michelle Venezia, and our Director of Operations, Lori Heppner) enjoyed a nice lunch together earlier this week at Il Fornaio in downtown Sacramento, right here on Capitol Mall!

In Denver this past Sunday with two friends, our President, Joseph Eschleman, enjoyed watching his favorite football team, thePhiladelphia Eagles, dismantle the hometown Broncos30-13!

A happy moment for our Director of Tax and Financial Planning, Steve Pitchford, our Director of Operations, Lori Heppner, and our Director of Research and Analytics, Nathan Billigmeier.

Charts of the Week

Rivian (Nasdaq: RIVN), the newly-public electric vehicle automaker (backed by Amazon) hit a market capitalization of $100 billion earlier this week – and they haven’t (yet) delivered a single vehicle! This is the largest U.S. IPO since 2014, when Alibaba went public, and makes the company bigger than both GM and Ford.

In the eyes of many investors and market pundits, this further cements the idea that traditional automobiles and automobile manufacturers are going the way of the dodo:

Quote of the Week

Excellent philosophy from IBM’s long-time chairman and CEO,Thomas J. Watson

Cartoon of the Week

In the spirit of what we discussed above about investor (over) confidence, the below cartoon thoughtfully illustrates one of Warren Buffett’s famous quotes:

“You need to divorce your mind from the crowd.”

Trending Today

As the 24/7 news cycle churns, twists, and turns, a number of trending and notable events have occurred over the past few weeks:

As always, we sincerely value our relationships and partnerships with each of you, as well as your trust and confidence in us here at Towerpoint Wealth. We encourage you to reach out to us at any time (916-405-9140info@towerpointwealth.com) with any questions, concerns, or needs you may have. The world continues to be an extremely unsettled and complicated place, and we are here to help you properly plan for and make sense of it.

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2021 Dynasty Financial Partners Investments Forum in NASHVILLE 11.17.2021

In addition to the venue (Music City!), the lineup of talent and the level of content was truly amazing at this year’s Dynasty Financial Partners Investments Forum. Our President, Joseph Eschleman, CIMA®, Partner, Wealth Advisor, Jonathan LaTurner, and Director of Research and Analytics, Nathan Billigmeier, all spent an enriching and enjoyable three days “sharpening their professional saws” at the conference.

The highlights included:

Click below to see the full agenda of speakers, activities, and content that, in addition to some Music City fun during the evenings, kept Joseph, Jonathan, and Nathan moving for three days!!

2021 Dynasty Financial Partners Investments Forum Schedule of Events

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Joseph Eschleman, CIMA®Heart 2 Biz Podcast 09.23.2021

Our President, Joseph Eschleman, CIMA®, was the featured guest on Laurel Sagen and Shasta Escalante’s Heart 2 Biz podcast earlier this month.

Heart 2 Biz is a weekly podcast focused on local Sacramento professionals and entrepreneurs who “pour their hearts into their businesses.” Focused on finding out not only how people are building and running their businesses, but how they are doing so with integrity and heart.

Click below to watch the 26 minute podcast and to discuss his crazy journey – not only how the permanent Pennsylvania-to-California cross-country adventure he took in 1999 helped to shape his heart and shape him as a person, but also how his evolution from employee to business owner and entrepreneur has shaped his character and overall outlook on life. It’s a great (and crazy!) story with plenty of interesting twists and turns, confirming what virtually every Towerpoint Wealth client already knows to be true – that the energy Joseph pours into his client partnerships and into Towerpoint Wealth has a foundation based on both integrity and on heart!

How do you choose a wealth management firm from the wide field of wealth management companies and independent wealth advisors? Is integrity important to you?

Is keeping your business Sacramento local important to you? Watch this podcast interview with independent financial planner and Sacramento small business owner Towerpoint Wealth President Joseph Eschleman, CIMA® as he appeared on Laurel Sagen and Shasta Escalante’s Heart 2 Biz podcast on 09.23.2021.

Heart 2 Biz is a weekly podcast focused on local Sacramento professionals and entrepreneurs who “pour their hearts into their businesses.” Their interviews with small business owners are focused on finding out not only how people are building and running their businesses, but how they are doing so with integrity and heart.

You can find other episodes of the Heart2Biz podcast interviewing Sacramento professionals on YouTube, at Heart 2 Biz Chan https://www.youtube.com/channel/UCO-ntPwS-W-eeupz6UDHAEg

If you like what you see here, learn more about Joseph and his team at his website Leave a comment below, and make sure to subscribe to the Towerpoint Wealth channel and click the bell to see our timely videos about taxes, the market, and more personal finance concerns.

🕐 0:01 – Interview with small business owner
🕐 1:40 – Who is Joseph Eschleman, CIMA/Towerpoint Wealth | Independent wealth advisors
🕐 3:12 – What is a fiduciary?
🕐 3:39 – What is an RIA?
🕐 3:40 – What is the advantage of working with independent wealth advisors?
🕐 3:55 – Is an employee of Wells Fargo wealth investment management (and other major Wall Street firms) legally required to act 100% in their clients’ best interests?
🕐 5:00 – How is Joseph’s life as a Sacramento professional different now that he is an entrepreneur no longer working for Wall Street wealth management companies?
🕐 5:58 – What does Laurel Sagen love about being a small business owner?
🕐 9:27 – How does a leader take their values and mission and transfer that to the people who work with them?
🕐 10:20 – What tools can an entrepreneur use to improve client communications?
🕐 12:35 – Why is Outlook’s “delayed delivery” Joseph’s secret weapon for assuring tasks get done?
🕐 14:00 – How is Towerpoint Wealth different from other financial and wealth management firms?
🕐 14:45 – What does Towerpoint Wealth do for their clients?
🕐 14:58 – What’s the sexy part of being a financial advisor?
🕐 15:30 – Is coordinating estate planning, taxes, long term healthcare, and banking part of wealth management?
🕐 16:00 What is TPW’s “Golden Rolodex”?
🕐 17:15 – How important is communication?
🕐 17:45 – Is good financial and portfolio management more of an art or a science?
🕐 22:00 – How does Joseph, a Sacramento business owner, balance his work and home life?

Independent wealth advisors have advantages over other wealth management companies. Financial advisors who work for Wall Street wealth management firms have less freedom to utilize preferred tools available to an independent financial planner. Don’t you want your wealth investment management handled by a financial advisor who is legally obligated to act 100% in your best interests?

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Five Things I Wish Someone Told Me Before I Became A Founder 02.12.2021

Our President, Joseph F. Eschleman, CIMA®, was interviewed by Candice Georgiadis, a contributing writer to Authority Magazine, as part of her series about leadership lessons of accomplished business leaders. Joseph’s story and message does an excellent job of summarizing not only how passionate and driven he is as President and founder of Towerpoint Wealth, but also the grit, tenacity, and hard work it takes to build and grow an individual advisory practice, and to then pivot, and ultimately build and grow a $300 million boutique wealth management firm.

Click HERE to read the Joseph Eschleman / Towerpoint Wealth story!