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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.
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y judy magness<br />
FROM RETIREMENT DREAMS TO REALITY<br />
In the past, people’s<br />
dreams of retirement<br />
usually included trading<br />
in that swivel desk<br />
chair for a beach chair<br />
– and never looking<br />
back. Times are changing,<br />
however. The Sloan<br />
Center on Aging & Work summarized a<br />
recent AARP study involving workers<br />
age 45-74 that stated: “More than 7 in 10<br />
say they plan to work in retirement; this<br />
includes 29% who will work part-time<br />
As a financial planning and investment advisory firm, William<br />
Howard helps clients meet their stated financial goals through a<br />
proven, logical, and customized financial planning process.<br />
for enjoyment and 23% who will work<br />
part-time for income.”<br />
William Howard & Co. Financial Advisors,<br />
Inc., helps prepare clients for financial<br />
security during retirement, going a<br />
step beyond by helping people examine<br />
how they will spend time once their daily<br />
routines – the practice of decades –<br />
comes to an end. William B. Howard, Jr.,<br />
CFP® president of the Memphis, Tennessee-based<br />
firm calls this the non-financial<br />
part of retirement planning.<br />
When retirement is about five to<br />
eight years away, Howard starts this<br />
dialogue with clients by asking them<br />
what they are going to do after they<br />
retire since they won’t be going to the<br />
place where they practice their profession<br />
each day. To help paint a picture of<br />
the future, Howard asks each client to<br />
fill out a daily planner to describe how<br />
they would spend their days in retirement.<br />
“Some of our clients jump right<br />
into retirement and are as busy as they<br />
can be with family, traveling, and having<br />
a great time – while others struggle<br />
with it,” said Howard. “For some people,<br />
their hobby is their work.”<br />
As an independent, fee-only financial<br />
planning and investment advisory<br />
firm, William Howard & Co. Financial<br />
Advisors, Inc. is built on adding value<br />
to their client’s financial life. “We<br />
try to organize and simplify our clients’<br />
financial health so they can enjoy<br />
their lives without worrying about finances,”<br />
said Howard. The majority of<br />
those clients are high income, high net<br />
worth individuals and business owners,<br />
including a niche in the medical<br />
community working with physicians.<br />
“If you stick with the very basics of<br />
investing, it will work for the longterm.<br />
If someone wants to make a lot of<br />
money in a month or a year or two, we<br />
are not the firm for them. That would<br />
be a major red flag for us,” explained<br />
Howard describing the fundamentals<br />
of successful client service from his<br />
point of view. “What it boils down to<br />
is face-to-face communication with clients<br />
so they can develop trust in us.”<br />
He told The Suit that the highest form<br />
of client trust is referral of their family<br />
and friends to the firm – something<br />
that has occurred consistently throughout<br />
the history of William Howard &<br />
Co. Financial Advisors, Inc. and has<br />
contributed greatly to their growth.<br />
The firm has received local and national<br />
media recognition, and Howard<br />
himself was recently featured in<br />
the Memphis Business Journal for his<br />
views on the state of domestic and international<br />
financial economies and investment<br />
portfolio strategies.<br />
International Place II<br />
6410 Poplar Ave, Suite 330<br />
Memphis, TN 38119<br />
Phone: 901-761-5068<br />
www.whcfa.com<br />
William Howard & Co.<br />
Financial Advisors Inc.<br />
THE SUIT MAGAZINE - JULY 2014
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