The Admired Advisor Podcast: True Wealth Management with Michael Thompson

True Wealth Management with Michael Thompson

Nov 14, 2022

People tend to get caught up in numbers when planning their finances and lose sight of what's important. However, the goal of true wealth management is not just to have a plan but to have one based on values, priorities, and goals. It's about aligning your money with your values so that your finances reflect what's important to you.

In this episode, Steve talks with Michael Thompson. Michael is the Senior Wealth Advisor at Copper Leaf Financial with more than 25 years of experience helping clients achieve their financial goals. Also serving as a partner at Copper Leaf Financial, Michael is the steward and director of the planning process, driving strategy, bringing together expertise, and delivering true, comprehensive planning and wealth management. Michael's areas of expertise are evidence-based and sustainable investing, retiree transitions, and complex estate and philanthropic planning.

Michael talks with Steve about how he partnered with a 35-year-old CPA firm to help them take the next step in helping their clients get what they call true wealth management, their planning process, and how his past career prepared him to take on the challenge of launching Copper Leaf Financial to reach the success they've had to date.

Key Takeaways

[01:42] - An overview of how Copper Leaf Financial serves its clients.
[03:32] - The reasons behind Copper Leaf Financial's founding.
[07:35] - What made Michael the right person to launch Copper Leaf Financial.
[13:20] - What true wealth management means.
[15:02] - The challenges of partnering with an already successful accounting firm.
[18:34] - What it's like to be a CPA and wealth manager.
[20:21] - How Michael and his team run their CPA and wealth management firm.
[22:49] - What the deliverables of a CPA and financial planning firm look like.
[26:09] - How Michael integrated eMoney and MoneyGuidePro into their business process.
[27:25] - Copper Leaf Financial's onboarding process.
[33:24] - How Michael stays on top of the wealth management industry.

Quotes

[08:26] - "I grew up in a world where financial planning is all about not just having a plan but implementing and managing that plan through time." ~ Michael Thompson

[14:15] - "True wealth management is about aligning the money to live the life people want and helping them achieve that level of fulfillment and contentment." ~ Michael Thompson

[29:52] - "We never get pushback anymore. I always tell people that if there's a pushback, it's in our brain or the advisor's brain and not the client's brain. If we tell clients the reason we charge, that makes sense for clients and certainly makes sense for us." ~ Michael Thompson

Links

Connect with our hosts

Subscribe and stay in touch

Disclosure

For informational and educational purposes only and should not be construed as specific investment, accounting, legal, or tax advice. Certain information is based upon third-party data which may become outdated or otherwise superseded without notice. Third-party information is deemed to be reliable, but its accuracy and completeness cannot be guaranteed. Some analysis presented is based off current economic information and may become outdated or irrelevant without notice. Individuals should speak with their qualified financial professionals based on his or her unique circumstances. Neither the Securities and Exchange Commission (SEC) nor any other federal or state agency have approved, determined the accuracy, or confirmed the adequacy of this podcast. © 2022 Buckingham Wealth Partners, LLC. Buckingham Strategic Wealth, LLC and Buckingham Strategic Partners, LLC (collectively, Buckingham Wealth Partners)