Tara Stensrud Receives Client Advocate Award from Avantax Planning Partners

Yeo & Yeo is proud to announce that Tara Stensrud, CPA, NSSA, PFS, received the 2023 Client Advocate Award from Avantax Planning Partners℠ (Avantax) at the 27th Annual Avantax Elevate conference.

The Client Advocate Award celebrates individuals who distinguish themselves through exceptional client service, proactive communication, and a deep dedication to understanding and meeting their clients’ financial needs. Stensrud’s commitment to these principles showcases her dedication to providing personalized, strategic financial guidance.

Working with both business owners and individuals, Stensrud has an unwavering passion for helping clients navigate their financial, succession, and retirement goals. To help elevate the level of service she can provide to clients, Stensrud earned the Personal Financial Specialist (PFS) designation from the American Institute of Certified Public Accountants in 2023, allowing her to serve as an Investment Advisor Representative (IAR) with Yeo & Yeo Wealth Management (YYWM) and Avantax^SM.

Stensrud expressed her gratitude and shared her perspective on client advocacy in financial planning, saying, “Client advocacy means being a steadfast partner in each client’s financial journey. It involves not just offering advice but truly listening, understanding their unique circumstances, and working collaboratively to achieve their financial goals. Effective communication and mutual trust are the cornerstones of this relationship. I am honored to receive this award and will remain committed to helping my clients navigate their financial futures with confidence.”

Yeo & Yeo’s President and CEO, David Youngstrom, commended Stensrud’s achievement and the collective efforts of the YYWM team. “Tara’s recognition with the 2023 Client Advocate Award is a testament to her unwavering dedication to her clients. Her approach exemplifies the high standards we strive for at YYWM. Our entire team is committed to helping clients succeed through personalized service. Tara’s award highlights the exceptional talent within our firm and our shared commitment to excellence.”

Tara Stensrud is a tax & consulting principal based in Yeo & Yeo’s Midland office. She is a member of the firm’s Manufacturing Services Group and the Tax & Consulting Services Group, and leads Yeo & Yeo’s HR Advisor Solutions Group. Stensrud provides individual and business tax planning, consulting, compliance, and financial reporting to a broad range of clients with an emphasis on the manufacturing and agriculture sectors. She works with businesses and their owners, as well as individuals, on strategic and financial planning. She is a member of the Michigan Manufacturers Association and the Central Michigan Manufacturers Association. In the community, she serves as a board member of Shelterhouse and is a Midland Noon Rotary Club member. She joined Yeo & Yeo in 2006.

*Award(s) are neither representative of any client’s experience nor indicative of future performance.

About Yeo & Yeo Wealth Management

Yeo & Yeo Wealth Management (www.yeoandyeo.com) helps businesses and individuals with their wealth management and investment strategies. Working closely with Avantax^SM, a national wealth management company, Yeo & Yeo Wealth Management delivers a holistic approach that connects financial planning, tax strategies, and insurance solutions. Wealth management services are offered in Yeo & Yeo’s offices throughout Michigan.

Investment advisory services are offered through Avantax Planning Partners^SM. Commission-based securities products are offered through Avantax Investment Services^SM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

Yeo & Yeo Wealth Management (YYWM) received three company awards and two individual awards at the 27th Annual Avantax Planning Partners℠ (Avantax) Elevate conference, including:

The Growth Award, which celebrates the expansion of firms that have implemented a wealth management growth plan and have seen exceptional year-over-year results.
The Risk Management Partner Award, which recognizes companies that fully engage with the Avantax insurance and annuity teams to comprehensively review clients’ entire financial picture, including risk management strategies.
Top Wealth Advisory Firm in the large firm division,* which recognizes companies that have gone above and beyond to provide clients with a best-in-class planning and wealth management experience.

“At Yeo & Yeo Wealth Management, our success is rooted in the strong relationships we build with our clients and our commitment to innovation,” said tax & consulting Principal, Andrew Matuzak, CPA, PFS. “These awards highlight our dedication to fostering trust and delivering personalized, forward-thinking solutions that help our clients thrive today and in the future.”

In addition to these firm recognitions, Pete Bender, CPA, CFP^®, Yeo & Yeo Wealth Management leader, was among eleven individuals recognized as part of the President’s Club, and Tara Stensrud, CPA, NSSA, PFS, received the 2023 Client Advocate Award.

“Our wealth management team is dedicated to helping our clients navigate their financial journeys successfully, and that starts with listening to their goals and connecting them with effective strategies,” Stensrud said.

Yeo & Yeo Wealth Management works closely with Avantax, a pioneer in tax-smart investing, financial planning and wealth management, to provide a comprehensive approach to financial planning. Using a unique tax-focused perspective, Yeo & Yeo Wealth Management’s experienced financial planners develop strategies to help clients meet their overall financial goals and desired lifestyle for today and tomorrow.

“Looking at wealth management through a tax-focused lens is crucial because it allows us to provide opportunities to maximize our clients’ financial outcomes while minimizing tax liabilities,” Bender said. “We offer tools, like our 1040 Analyst and Guidance Planning Strategies program (GPS), to help clients find ways to strengthen their financial situation holistically.”

Awards were presented at the Avantax Elevate Annual Conference in Saint Louis, Missouri.

*Award(s) are neither representative of any client’s experience nor indicative of future performance.

About Yeo & Yeo Wealth Management

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 31, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Long-term care planning is important because it can help ensure that you have the financial resources to cover long-term care expenses without depleting your savings or burdening your loved ones. A variety of long-term care insurance options are available, and it is important to understand the different types of policies and how they align with your financial situation and preferences. If you are unsure where to start, it is advisable to seek guidance from a financial professional.

On episode 31 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss long-term care – what it is and why it’s important, the different types of long-term care insurance and how to get started with long-term care planning.

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

DISCLAIMER
The information provided in this podcast is believed to be valid and accurate on the date it was first published. The views, information, or opinions expressed during the podcast reflect the views of the speakers. This podcast does not constitute tax, accounting, legal or other business advice or an advisor-client relationship. Before making any decision or taking action, consult with a professional regarding your specific circumstances.

Investment advisory services are offered through Avantax Planning Partners^SM. Commission-based securities products are offered through Avantax Investment Services^SM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management.

This material is for informational purposes only. It is not intended as investment, tax or other advice or an offer or solicitation for the purchase or sale of any financial instrument. Indices are unmanaged, represent past performance, do not incur fees or expenses, and cannot be invested into directly. Past performance is no guarantee of future results. Consult with your financial, tax or other appropriate advisors on all matters pertaining to financial, accounting or tax obligations and requirements.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 30, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Legacy planning goes beyond wealth and age; it’s crucial for anyone aiming to make a lasting impact by ensuring their values, assets, and priorities are passed on meaningfully and tax-efficiently. Regardless of whether legacy planning involves financial support for loved ones, education, charitable giving, or fulfilling personal values and life lessons, it is a fundamental aspect of financial planning.

Listen in as Pete and Matt discuss legacy planning, why it’s important and some strategies to consider when incorporating your legacy into your financial plan.

Yeo & Yeo’s Everyday Business podcast covers tax, accounting, technology, and financial topics to help you and your business thrive. The podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Investment advisory services are offered through Avantax Planning Partners℠. Commission-based securities products are offered through Avantax Investment Services℠, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 29 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM and Andrew Matuzak, a Wealth Management Specialist in Yeo & Yeo’s Saginaw office.

Charitable giving is a meaningful way to support the causes you care about and can also save you money on taxes. Several tax-efficient charitable giving strategies are available, such as qualified charitable distributions, donor-advised funds, gifting appreciated stock, and bunching. When determining which organizations or charities to donate to, it is important to consider your values and the causes that matter most to you, and research the charities to ensure they use donations effectively.

Listen in as Pete, Matt and Andrew discuss the significance of charitable giving and tax-intelligent strategies to amplify the impact of your generosity.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. On episode 28, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss the importance of year-end tax planning and tax-intelligent concepts to consider, including tax-focused investment strategies, retirement planning, family risk management, business planning, legacy planning, education planning, and cash flow management.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Investment advisory services are offered through Avantax Planning PartnersSM. Commission-based securities products are offered through Avantax Investment ServicesSM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Saginaw, MI: Yeo & Yeo is pleased to announce that Tara Stensrud, CPA, NSSA^®, has earned the Personal Financial Specialist (PFS) designation from the American Institute of Certified Public Accountants.

The PFS credential is awarded to CPAs with extensive training and experience in financial planning. To earn the credential through the experience pathway, CPAs must have at least 105 hours of personal financial planning education and 7,500 hours of planning experience within the previous seven-year period. They also must pass a comprehensive exam covering eleven topic areas and be a member in good standing with the AICPA, binding them to the AICPA Code of Professional Conduct and the Statement on Standards in Personal Financial Planning Services. This designation allows Stensrud to serve as Investment Advisor Representative (IAR) with Yeo & Yeo Wealth Management and Avantax^SM.

Tara Stensrud is a tax principal based in Yeo & Yeo’s Midland office. She is a member of the firm’s Manufacturing Services Group and the Consulting Services Group. Strensrud provides individual and business tax planning, consulting, compliance, and financial reporting to a broad range of clients with an emphasis on the manufacturing and agriculture sectors. She works with businesses and their owners, as well as individuals, on strategic and financial planning. She is a member of the Michigan Manufacturers Association and the Central Michigan Manufacturers Association. In the community, she serves as a board member of Shelterhouse and is a Midland Noon Rotary Club member. She joined Yeo & Yeo in 2006.

Stensrud said that earning the PFS credential has helped her elevate the level of service she can provide to clients. “The in-depth education and planning experience have given me a deeper understanding of their financial needs and allowed me to craft personalized strategies tailored to their specific situations.”

The PFS certification allows Strensrud to combine her tax expertise with her knowledge of financial planning to provide clients with comprehensive financial strategies.

Peter J. Bender, CPA, CFP^®, leader of Yeo & Yeo Wealth Management, said, “Earning the PFS credential highlights Tara’s commitment to continuous growth and elevating the level of service we provide to our clients. This achievement reinforces Tara’s dedication to empowering our clients to make informed decisions about their financial future.”

About Yeo & Yeo Wealth Management

Yeo & Yeo Wealth Management (www.yeoandyeo.com) helps businesses and individuals with their wealth management and investment strategies. Working closely with Avantax®, a national wealth management company, Yeo & Yeo Wealth Management delivers a holistic approach that connects financial planning, tax strategies and insurance solutions. Wealth management services are offered in Yeo & Yeo’s offices throughout Michigan.

Avantax WM Holdings^SM is the holding company for the group of companies providing financial services under the Avantax® name. Investment advisory services are offered through Avantax Planning Partners^SM. Commission-based securities products are offered through Avantax Investment Services^SM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

Saginaw, MI: Yeo & Yeo is pleased to announce that Eric Sowatsky, CPA, CGMA, NSSA^®, has earned the Personal Financial Specialist (PFS) designation from the American Institute of Certified Public Accountants.

The PFS credential is awarded to CPAs with extensive training and experience in financial planning. To earn the credential through the experience pathway, CPAs must have at least 105 hours of personal financial planning education and 7,500 hours of planning experience within the previous seven-year period. They also must pass a comprehensive exam covering eleven topic areas and be a member in good standing with the AICPA, binding them to the AICPA Code of Professional Conduct and the Statement on Standards in Personal Financial Planning Services. This designation allows Sowatsky to serve as Investment Advisor Representative (IAR) with Yeo & Yeo Wealth Management and Avantax®.

Eric Sowatsky is a tax principal based in Yeo & Yeo’s Saginaw office and leads the Saginaw office’s tax department. He is the Agribusiness Services Group leader and a member of the firm’s Tax Services Group. Sowatsky specializes in business consulting, internal control reviews, financial reporting, and tax planning for a broad range of clients, with an emphasis on agribusiness and family-owned businesses. He has extensive experience with the tax and financial challenges business owners face. Sowatsky is a member of the Michigan Agribusiness Association’s Grain Committee and the Farm Financial Standards Council. He is a regular contributor on the WSGW Farm Service 790 radio show. In the community, he is the past treasurer of Bethlehem Lutheran Church and coaches the soccer and basketball teams at Bethlehem Lutheran School. He joined Yeo & Yeo in 2004.

In speaking on the significance of earning the PFS credential, Sowatsky said, “The extensive training and experience in financial planning have allowed me to offer a more holistic approach to tax and financial challenges faced by businesses and individuals. It’s immensely rewarding to combine my tax expertise with comprehensive financial strategies, empowering our clients to make informed decisions.”

Peter J. Bender, CPA, CFP^®, leader of Yeo & Yeo Wealth Management, said, “The PFS designation reinforces Yeo & Yeo’s commitment to delivering expert financial guidance, and I am confident that Eric will continue to excel in his role as a trusted advisor, helping our clients achieve their financial goals with confidence.”

About Yeo & Yeo Wealth Management

Yeo & Yeo Wealth Management received the 2022 Growth Award and was recognized for the fourth consecutive year as a Top Wealth Advisory Firm in the large firm division* by Avantax Planning Partners^SM (Avantax).

The Growth Award celebrates the expansion of firms that have implemented a wealth management growth plan and saw exceptional year-over-year results. Yeo & Yeo was selected for this recognition due to the firm’s innovative marketing efforts, including a dedicated wealth management podcast series. This series provided valuable insights to listeners on a wide array of topics, including succession planning, social security and tax-smart investing.

“We are truly honored to receive the Growth Award, which reflects the incredible dedication of our team,” said Pete Bender, CPA, CFP^®. “Their hard work has allowed us to serve a growing number of clients who benefit from our expertise, and the wealth management experience of Avantax. We are excited to continue delivering comprehensive solutions that help our clients achieve their financial goals today and in the future.”

Moreover, Yeo & Yeo Wealth Management has gone above and beyond in providing clients best-in-class planning and wealth management experience, leading to its recognition as a Top Wealth Advisory Firm for the fourth consecutive year.

“Combining the tax and accounting experience of Yeo & Yeo and the wealth management experience of Avantax provides a distinct advantage,” said Andrew Matuzak, CPA, PFS. “This unique approach empowers our clients to save money, make strategic investments, and ultimately move closer to their desired financial outcomes. We are committed to delivering personalized solutions that make a positive and lasting impact on their financial well-being.”

“We look at wealth management through a tax-focused lens because we understand that tax information can reveal financial opportunities and vulnerabilities for our clients,” Bender added. “Often, financial professionals focus on a client’s wealth and fail to analyze their tax situation before making investment recommendations. We provide tools, like our 1040 Analyst and Guidance Planning Strategies program (GPS), to help clients find ways to strengthen their financial situation holistically.”

Awards were presented at the 2023 Avantax Elevate Annual Conference held in Indianapolis, Indiana.

*Award(s) are neither representative of any client’s experience nor indicative of future performance.

About Yeo & Yeo Wealth Management

Yeo & Yeo Wealth Management (www.yeoandyeo.com) helps businesses and individuals with their wealth management and investment strategies. Working closely with Avantax^SM, a national wealth management company, Yeo & Yeo Wealth Management delivers a holistic approach that connects financial planning, tax strategies and insurance solutions. Wealth management services are offered in Yeo & Yeo’s offices throughout Michigan.

Avantax WM Holdings^SM is the holding company for the group of companies providing financial services under the Avantax^SM name. Investment advisory services are offered through Avantax Planning Partners^SM. Commission-based securities products are offered through Avantax Investment Services^SM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Although Avantax does not provide or supervise tax or accounting services, our Financial Professionals may offer these services through their independent outside business. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses.

Last week’s closure of Silicon Valley Bank (SVB) marked one of the largest bank failures in history and sparked fears over the health of the entire financial system. While the situation remains fluid, below you’ll find a high-level overview.

Highlights

The collapse of Silicon Valley Bank fueled a sharp sell-off last week, with the S&P 500 falling -4.55%.
Over the weekend, the Treasury Department announced that it would fully protect all uninsured and insured depositors; however, it will not use taxpayer dollars to bail out the bank.
The Federal Reserve announced the creation of a new Bank Term Funding Program to prevent spillover to the broader financial system.
We believe this is largely an isolated event due to the unique circumstances of Silicon Valley Bank and its own risk management strategy.
This event illustrates why it is important to have a long-term financial and tax plan in place. Volatility is inevitable in markets, but a well-diversified portfolio and a solid tax plan can help smooth the bumps in the road.

Our Analysis

The situation with Silicon Valley Bank remains fluid and is certain to drive its fair share of volatility in the weeks to come. For now, we believe that what happened with Silicon Valley Bank is largely an isolated event, given its unique circumstances and unusual client base — it had very few typical retail customers.

The composition of Silicon Valley Bank’s balance sheet exposed the bank to larger shortfalls in the event of rising interest rates, deposit outflows, and forced asset sales. At this time, we view this as a unique or rare exposure within the current banking system, and the biggest ones, importantly, remain highly diversified with large balance sheets that are unlikely to be materially impacted by these events due to their hedging and risk management strategies. In the meantime, we believe the Federal Reserve will likely approach further interest rate hikes with more caution going forward.

What Happened

Turmoil in the financial sector led to a sharp sell-off in stocks last week after the Federal Deposit Insurance Corporation (FDIC) announced the closure of Silicon Valley Bank on Friday, March 10. The closure of Silicon Valley Bank marked one of the largest bank failures in history and sparked fears over the health of the entire financial system. The S&P 500 tumbled nearly 5% last week, and the financial sector fell by more than 8%.

The U.S. Government’s Response

Following last week’s sell-off, the markets received some welcome clarity over the weekend regarding the fate of depositors and other institutions associated with the bank. On Sunday night, the U.S. Treasury, Federal Reserve, and FDIC released a joint statement designating Silicon Valley Bank as a systemic risk, giving the Treasury Department authority to unwind the bank in a way that will fully protect all depositors, both insured and uninsured.

The statement indicated that those with money at the bank will have full access to funds starting Monday morning. This is important since out of Silicon Valley Bank’s $173 billion of customer deposits at the end of 2022, $152 billion were uninsured (i.e., over the $250,000 FDIC insurance threshold) and only $4.8 billion were fully insured (JPMorgan).

Safeguarding Market Instability

In addition to back-stopping depositors, the Federal Reserve took decisive action to prevent this situation from spreading to other banks.

The Federal Reserve announced it is creating a new Bank Term Funding Program aimed at safeguarding institutions impacted by the market instability of the Silicon Valley Bank failure. The Fed facility will offer loans of up to one year to banks, saving associations, credit unions and other institutions. Markets initially reacted positively to the developments but fell in the pre-market trade Monday morning as markets were set to re-open for the week.

About the SVB Collapse

The collapse of Silicon Valley Bank happened swiftly. On Wednesday of last week, the bank reported that “client cash burn has remained elevated and increased further in February, resulting in lower deposits than forecasted.” To shore up liquidity and reassure investors, the bank attempted to raise capital and liquidated approximately $21 billion of bonds at a significant loss. This had unintended consequences that spurred a run on the bank, leading to inadequate liquidity and insolvency due to the rush of withdrawals.

Silicon Valley Bank served a niche market focused on lending to and gathering deposits from venture capital firms. The problem didn’t stem from underlying credit risk issues but rather a severe duration mismatch between high-quality assets and deposit liabilities. In short, the bank had invested its deposits in low-interest rate bonds that it held on its books on a long-term “hold-to-maturity” basis.

That means that it did not have to mark-to-market those bonds until they were sold. If a bank does not need to sell “hold-to-maturity” assets to meet withdrawal requests, there is no problem. But if a bank is forced to sell these securities at a loss, that’s where the trouble starts.

In this case, many of the underlying bonds were purchased prior to the rapid spike in interest rates over the last year, meaning that they will have to be sold well-below par value (the amount the bonds would eventually be worth at maturity).

Many catalysts drive volatility in the markets, most of which are unknown until they occur.

Working with Avantax can help smooth inevitable bumps in the road by taking a long-term tax and financial planning perspective.

If you have questions, please consult your Financial Planning Consultant.

Avantax WM Holdings^SM is the holding company for the group of companies providing financial services under the Avantax® name. Investment advisory services are offered through Avantax Planning Partners^SM. Commission-based securities products are offered through Avantax Investment Services^SM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for 100 years, and we want to share our knowledge with you.

Covering tax, accounting, technology, financial and advisory topics relevant to you and your business, Yeo & Yeo’s podcast is hosted by industry and subject matter professionals, where we go beyond the beans.

On episode 27 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Kevin Dement, Principal, Client Development, Avantax Retirement Plan Services^SM and Matthew Cash, financial planning consultant for Avantax Planning Partners^SM. Listen in as Pete, Kevin and Matt discuss SECURE 2.0 and how many provisions of the act can enhance retirement plans.

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Investment advisory services are offered through Avantax Planning Partners^SM. Commission-based securities products are offered through Avantax Investment Services^SM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for 100 years, and we want to share our knowledge with you.

On episode 26 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss how SECURE 2.0 will expand employee enrollment in retirement plans, and how the provisions of the act will affect many individuals and their employers.

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

On episode 25 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss Maximizing Social Security Benefits in the sixth in our series focusing on wealth management.

When should you start planning, and when should you start drawing Social Security benefits? (1:40)
Visit www.ssa.gov for information to help answer common questions. (3:39)
Can I earn more by waiting to draw from retirement past age 62? (5:00)
Is it always best to wait or are there cases when you should draw early? (7:20)
When does someone qualify for Medicare benefits? (10:40)
Ways to maximize Social Security benefits (12:45 )
The rules for claiming a former spouse (15:54)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Preview

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

On episode 24 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss important questions you should consider when building a succession plan, in the latest episode of our series focusing on wealth management.

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

On episode 23 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss Tax-Smart Investing and Planning in the fifth in our series focusing on wealth management.

How does tax-smart investing work? (1:44)
What kind of difference can tax-smart investing make on investment outcomes? (6:55)
How does tax-smart investing differ from tax-smart financial planning? (8:03)
Why don’t more financial planners offer more tax-smart investing strategies? (13:45)
What should a client look for in a financial professional? (15:49)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

On episode 22 of Everyday Business, host Peter Bender, tax principal, and leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss the tax-smart strategies for wealth transferring in the fourth in our series focusing on wealth management.

Different types of estate taxes (2:44)
How might a changing regulatory environment affect wealth transfer plans? (5:20)
What are some strategies that can be applied now to help minimize state taxes? (8:23)
Contributing to a 529 education savings account and the bunching rule (11:23)
Donating appreciated property (13:18)
Differences in beneficiaries of a ROTH vs. traditional IRA (14:24)
When should someone look for an estate planning attorney? (15:56)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

On episode 19 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss the financial planning process in the second in our series focusing on wealth management.

The differences between investors and financial planning partners (1:55)
Financial advisor fee structure vs. commission-based structure (4:06)
Yeo & Yeo’s unique financial planning process with Avantax (7:20)
The differences in the types of investments (10:05)
The GPS (Guidance Planning Strategies) process (12:16)
Strategies to help clients make good financial decisions (16:33)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

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Check the background of Pete Bender on FINRA’s BrokerCheck.

Welcome to Everyday Business, Yeo & Yeo’s podcast. We’ve had the privilege of advising Michigan businesses for more than 99 years, and we want to share our knowledge with you.

On episode 18 of Everyday Business, host Peter Bender, leader of Yeo & Yeo Wealth Management, is joined by Matthew Cash, financial planning consultant for Avantax Planning Partners^SM.

Listen in as Pete and Matt discuss inflation and market volatility in the first episode in our podcast series focusing on wealth management.

Causes of inflation (2:10)
Why is inflation so much more impactful for those in their retirement years? (5:22)
Interest rate increases and how it will affect investors (9:00)
What can investors do to offset inflation in their portfolios now? (13:05)
What are some things investors can do in volatile times to offset changes in the market? (16:15)

Thank you for tuning in to Yeo & Yeo’s Everyday Business podcast. Yeo & Yeo’s podcast can be heard on Apple Podcasts, PodBean and, of course, our website. Please subscribe, rate and review.

For more business insights, visit our Resource Center and subscribe to our eNewsletters.

Check the background of Pete Bender on FINRA’s BrokerCheck.

Yeo & Yeo Wealth Management was recognized for the third consecutive year as a Top Wealth Advisory Firm in the large firm division* by Avantax Planning Partners^SM (Avantax). The award honors firms that go above and beyond to help businesses and families achieve their wealth management goals.

Principal and wealth management leader Peter Bender CPA, CFP^® said the award acknowledges Yeo & Yeo Wealth Management’s commitment to clients.

“Combining the tax and accounting experience of Yeo & Yeo and the wealth management experience of Avantax provides a distinct advantage,” Bender said. “Together, our comprehensive financial services help clients save money while also investing in ways that can get them closer to reaching their goals.”

“We look at wealth management through a tax-focused lens because we understand that tax information can reveal financial opportunities and vulnerabilities for our clients,” Bender added. “Often, financial professionals maintain a singular focus on a client’s wealth and fail to analyze their tax situation before making investment recommendations. We provide tools, like our 1040 Analyst and Guidance Planning Strategies Program (GPS), to help clients find ways to strengthen their financial situation holistically.”

Awards were presented on May 25, 2022, at the Avantax Elevate Annual Conference in Des Moines, Iowa.

*Award(s) are neither representative of any client’s experience nor indicative of future performance.

View this month’s market update video as host Ivan Gruhl, Chief Investment Officer of Avantax provides an update and discusses Russia, rates and resilience.

Disclaimer
Investment advisory services are offered through Avantax Planning Partners^SM. Commission-based securities products are offered through Avantax Investment Services^SM, Member FINRA, SIPC. Insurance services offered through licensed agents of Avantax Planning Partners. 3200 Olympus Blvd., Suite 100, Dallas, TX 75019. The Avantax entities are independent of and unrelated to Yeo & Yeo Wealth Management. Peter Bender is an Avantax registered representative. Not all Financial Professionals are licensed to offer all products or services. Financial planning and investment advisory services require separate licenses. Avantax affiliated advisors may only conduct business with residents of the states for which they are properly registered. Please note that not all of the investments and services mentioned are available in every state.

Check the background of Pete Bender on FINRA’s BrokerCheck.