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Marcus Lemonis, a serial entrepreneur and host of the show “The Profit” on CNBC, is a true survivor in the corporate world. The native-born Lebanese business man endured the chaos of a civil war in Beirut and eventually moved to Miami. Lemonis was exposed to the automotive industry throughout his upbringing - his grandfather owning two of the largest Chevrolet dealerships in the United States and Lee Iacocca serving as the family friend and later mentor to Lemonis. On page 12, we conducted an interview with “Profit” host Marcus Lemonis, who offers struggling small businesses capital investment and his expertise in exchange for an ownership stake in the company. In the latter part of the magazine, we interviewed countless wealth advisors during these tough economic times. We recognize that some of the changes in 2013 and 2014 require relevance for financial planners. Therefore, the financial industry continues to push for more realistic standards and reforms. Marcus Lemonis, a serial entrepreneur and host of the show “The Profit” on CNBC, is a true survivor in the corporate world. The native-born Lebanese business man endured the chaos of a civil war in Beirut and eventually moved to Miami. Lemonis was exposed to the automotive industry throughout his upbringing - his grandfather owning two of the largest Chevrolet dealerships in the United States and Lee Iacocca serving as the family friend and later mentor to Lemonis. On page 12, we conducted an interview with “Profit” host Marcus Lemonis, who offers struggling small businesses capital investment and his expertise in exchange for an ownership stake in the company. In the latter part of the magazine, we interviewed countless wealth advisors during these tough economic times. We recognize that some of the changes in 2013 and 2014 require relevance for financial planners. Therefore, the financial industry continues to push for more realistic standards and reforms.
y amy m. armstrong A DISCIPLINED APPROACH Makes Money Last Turn on the radio in any American city and you won’t need to listen long before you hear ample advice regarding financial matters. The portability of radio makes it a natural means for financial advisors to connect with commuting listeners during the weekday morning and evening rush hours. But if you happen to find yourself in the greater Atlanta area at 11 a.m. on a Saturday or Sunday morning, you might consider tuning in to “News Talk” at 1160 on the AM dial. That’s when you will hear Kenny J. Baer, senior wealth manager and partner with Baer Wealth Management who along with his co-host Patrick K. Maffett, an investment strategist with the firm, discuss whatever financial matters callers want to talk about on their show, “The Money Gurus.” For Baer, the show is an efficient and convenient format for getting in touch with those outside of his current client base. It is also one way of taking the financial temperature and pulse of the community. Frequently, what he hears is cause for great alarm to a financial services professional. “The most pressing need I regularly hear, is that callers just have a lack of savings, with not enough retirement assets to live from,” Baer explains. “They do not really have an understanding of how inflation is going to factor into the performance of their portfolios.” He recognizes how challenging it is for the average person to sort through all of the financial news that comes blasting at them from the Internet, as well as via radio, television, newspapers and magazines. “They hear all this noise from the media, which can only be further confusing,” he said. “Many just don’t have any idea of what it all means. Then THE SUIT MAGAZINE - JULY 2014
they don’t want to think about it– and hope it all works out.” Baer well knows how that kind of plan is not a plan at all. He and Maffett encourage callers to seek professional assistance for piecing together a framework, crafted from their existing financial assets such as employer-sponsored retirement, social security benefits as well as other non-retirement assets. Realizing the weekly show isn’t enough to guide someone through financial planning, Baer feels it is at least a start – an outreach – that can better inform people of their needs and hopefully prompt them to contact an advisor. “Every person needs a picture of how their money – how their assets – should be distributed throughout their lifetime to ensure they have income that lasts,” Baer insisted. That need is more relevant today as the American lifespan increases. In the past, many Americans were fortunate if they enjoyed a mere ten years of retirement. “Today,” he said, “as many Americans live to be 90 or more years of age, a 25 to 30 year retirement is no longer uncommon.” Baer checks regularly to see if a client’s nest egg is big enough by running inflation calculators. These can illustrate what the purchasing power of today’s money will be tomorrow. He also talks to clients about the typical life cycle of retirement. “In their first years of retirement, most clients tend to spend perhaps even more money than they used to when working, because they travel a lot,” he notes. “Then in the middle years of retirement, they settle down. They aren’t spending as much then. But during the end years of retirement, much more tends to get spent because of health-related issues. So, we make sure we are building a spending plan around those needs, constantly monitoring and talking – and seeing how that plan is evolving.” As one example, Baer references an extremely healthy client currently living in Florida who has been retired since 1987. Careful planning has allowed the client to achieve this independence. Another client, now 15 years into retirement, is in the same boat, but with more than enough money to last, according to Baer. “(This client) plays golf four days a week and tennis three times a week,” he said.The same was the case with a client with whom his father – and founder of Baer Wealth Management, William E. Baer – worked for 30 plus years. Kenny Baer says “I have worked with them now for the past ten years and they are living their retirement years quite comfortably.” Achieving this takes a disciplined approach to investing. “Oftentimes, clients can get caught up in all the statistics out there,” Baer said. “They ask questions such as, ‘How did my portfolio do?’ or ‘How am I performing in the current market?’ And what we do is to play the role of keeping them in a disciplined approach that will get them to their ultimate goal. We manage their money to that goal and not necessarily with the goal of beating the market.” Baer keeps the bulk of client assets – close to 99 percent of what the firm has under management – in mutual funds and exchange-traded funds. Only rarely, and after very careful scrutiny, does he recommend that a client invest in limited partnerships. “Every person needs a picture of how their money – how their assets – should be distributed throughout their lifetime to ensure they have income that lasts,” - Kenny Baer “We have to gain a full understanding of what the principals of any limited partnership we consider are doing,” Baer said. “We do full background checks. We expect them to hand over all of their personal information for verification. And we make sure that the principals have the same amount of investment in the limited partnership as they are recommending that our client take on.” “Looking at the success of our clients – those are the greatest successes of my career.” 101 Village Parkway, Bldg 1, Suite 200 Marietta, GA 30067 www.baerwealth.com THE SUIT MAGAZINE p.49
- Page 1 and 2: Issue 61 JULY 2014 exclusive interv
- Page 3 and 4: publishers note ISSUE 61 | JULY 201
- Page 5 and 6: BUSINESS / FINANCE 31 Equity Exposu
- Page 7 and 8: THE SUIT MAGAZINE p.7
- Page 9 and 10: nia cities reveals still lower mini
- Page 11: STILL PUZZLED ... by your supply ch
- Page 14 and 15: to finance struggling businesses on
- Page 16 and 17: y diane e. alter TRIVIA ISN’T TRI
- Page 18 and 19: The 7 Most Common Negotiating Mista
- Page 20 and 21: BAD BYOD HABITS THAT CAN EXPOSE YOU
- Page 22 and 23: y david stein >>> Lease - Don’t O
- Page 24 and 25: y felix badea Talking Face to Face
- Page 26 and 27: Meeting With The Wife Too Both spou
- Page 28 and 29: STILL PUZZLED ... by your supply ch
- Page 30 and 31: y judy magness Building Wealth in S
- Page 32 and 33: y judy magness The Complications of
- Page 34 and 35: y david stein DANGER On The Way Dow
- Page 36 and 37: Brave Investing During a Sell-Off P
- Page 38: y judy magness Off Campus Housing P
- Page 41 and 42: part of why he attained a certifica
- Page 43 and 44: With the utmost of integrity, we ta
- Page 46 and 47: MOTIVATED CLIENTS ALWAYS WELCOME En
- Page 50 and 51: y judy magness Guiding Investor Ris
- Page 52 and 53: y amy m. armstrong LEARNING FROM MI
- Page 54 and 55: Promoting World-Changing Innovation
- Page 56 and 57: y amy m. armstrong CANDID CONVERSAT
- Page 58 and 59: y david stein Proving Himself to Cl
- Page 60 and 61: y judy magness Alternative to Tradi
- Page 62 and 63: y diane e. alter Revealing Risk Tol
- Page 64 and 65: y a. marie velthuizen One Uniform S
- Page 66 and 67: WHY RENEWABLE ENERGY? Save money. R
- Page 68 and 69: y judy magness FROM RETIREMENT DREA
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y amy m. armstrong<br />
A DISCIPLINED APPROACH<br />
Makes Money Last<br />
Turn on the radio in any American city and you won’t need to listen long before you<br />
hear ample advice regarding financial matters. The portability of radio makes it a natural<br />
means for financial advisors to connect with commuting listeners during the weekday<br />
morning and evening rush hours.<br />
But if you happen to find yourself<br />
in the greater Atlanta area at 11<br />
a.m. on a Saturday or Sunday<br />
morning, you might consider tuning<br />
in to “News Talk” at 1160 on the AM<br />
dial.<br />
That’s when you will hear Kenny J.<br />
Baer, senior wealth manager and partner<br />
with Baer Wealth Management<br />
who along with his co-host Patrick K.<br />
Maffett, an investment strategist with<br />
the firm, discuss whatever financial<br />
matters callers want to talk about on<br />
their show, “The Money Gurus.”<br />
For Baer, the show is an efficient and<br />
convenient format for getting in touch<br />
with those outside of his current client<br />
base. It is also one way of taking the<br />
financial temperature and pulse of the<br />
community.<br />
Frequently, what he hears<br />
is cause for great alarm to a financial<br />
services professional.<br />
“The most pressing need I<br />
regularly hear, is that callers<br />
just have a lack of savings,<br />
with not enough retirement<br />
assets to live from,” Baer explains.<br />
“They do not really<br />
have an understanding of<br />
how inflation is going to factor<br />
into the performance of<br />
their portfolios.”<br />
He recognizes how challenging<br />
it is for the average person to<br />
sort through all of the financial news<br />
that comes blasting at them from the<br />
Internet, as well as via radio, television,<br />
newspapers and magazines.<br />
“They hear all this noise from the<br />
media, which can only be further confusing,”<br />
he said. “Many just don’t have<br />
any idea of what it all means. Then<br />
THE SUIT MAGAZINE - JULY 2014
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