Thursday, December 1 2022

The American Legislative Exchange Council recently released a report comparing the gross domestic product, population, and job growth of state economies. Where does Arizona rank? That would be #1. Add to that the US Census Bureau’s findings that Arizona is the nation’s second-fastest growing state by population, and it’s clear that State 48 continues to grow. to be among the best places to live and work in the nation.

However, with growth comes competition.

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Arizona is no longer a sleeping giant. The secret is out, and as such, companies need to be smarter than ever to make a name for themselves. Companies in the financial sector – from wealth management to auditing and insurance – understand this all too well. Even nonprofits understand this in the increasingly competitive world of giving. Here’s a look at how finance-focused businesses and even a nonprofit have distinguished themselves in this market, finding a niche that allows them to continue to evolve and grow:

Wilde Wealth Management Group

Since its first day of operation in 2003, Wilde Wealth Management Group has focused on providing comprehensive retirement, investment, real estate, insurance, legal and tax planning services under one roof. The comprehensive model helped the company grow from Trevor Wilde and his father, Bill, to one of the biggest companies in the Southwest. Today they have offices in Tempe, Tucson, Payson, Glendale and Sedona in addition to a 12,000 square foot headquarters in Scottsdale and even offices in Indiana and San Luis Obispo. The company has grown exponentially by bringing in like-minded strategic affiliates, boutiques and finance teams to find their complete model and partnership. To date, Southwest affiliates include In Touch Wealth Advisors, Huish Wealth Management, Rizzo Financial Group and Self Wealth Management in Scottsdale; JRS Wealth Management and Hallmark Financial in Tucson; Mosaic Financial Associates in Tempe and Premier Wealth Management Group in Albuquerque.

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Mosaic Financial Associates

Mosaic Financial Associates may be based in Tempe, but between its three differentiators, it’s a truly national company. First, they specialize in collaborative and highly strategic financial plans for individuals and healthcare professionals across the country, so much so that they also run the Orthopedist Advisory Group, an extension of Mosaic that caters exclusively to surgeons. orthopedics across the country. On top of that, Mosaic has built both its clientele and reputation through publishing. President Anthony C. Williams recently released “A Clean Bill of Wealth: The Essential Categories of Financial Wellness.” The Essential Guide to Financial Planning for Physicians, available on Amazon now, is just one of many books on planning topics that Williams – in partnership with partner Marcus Ortega – has written, each resulting in dozens of national conferences and keynote opportunities, their final point of differentiation.

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345 Wealth Management

Although founded earlier this year, 345 Wealth Management is already making a name for itself in the market. Its founders, former longtime Equitable Advisors executives Dillan Micus and Patrick Kearns, are to thank for part of their trajectory. However, one of the service lines is gaining notoriety: Asset Location Planning (ALP). In its simplest terms, ALP is designed to help customers pay less tax so they can do more of what they love. Essentially, it is the art and science of investing in different tax venues, which aim to reduce clients’ tax liabilities as they accumulate, distribute and transfer their assets. Their ability to potentially reducing the effective rate clients pay on all their assets when it’s time to receive distributions and reducing the taxes clients pay on all short-term and long-term assets is causing such a stir that 345 is already working with d other brokers to help scale the concept nationwide over the next year. Apart from this, Micus sets the company apart by offering employees FRESH, an exclusive course on examining their finances, relationships, education, spirituality and health to help them live a better life. in all areas, rather than with regard to bank balances.

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Next Chapter Advisory Group

Next Chapter Advisory Group differentiates itself by offering a team approach to financial planning, providing clients with a broader scope of expertise than they would likely find in a single person. Customers are our top priority, which is why we strive to understand your unique situation and ultimately create a distinctive plan that provides a roadmap for your financial journey. In 2018, Justin L. Cairns formed Next Chapter Advisory Group, which focuses on partnering with private clients and business owners to manage portfolios and develop personalized financial strategies designed to help them achieve their personal financial goals. in the most efficient way. Client goals focus on retirement, trust portfolio management and charitable giving. “Focusing only on what is in the client’s interest and not being pressured by proprietary investment products or services allows me to adhere to the fiduciary principles I apply when working with my clients,” says Cairns. The disciplined approach and process that Cairns has in place with its clients helps to minimize the emotions that can prevent clients from achieving their goals. The Cairns process has three distinct stages: discovery, design and deployment. “My goal is to inspire confidence that the personalized plans we create will enable clients to achieve the financial results they desire,” he says.

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Audit, advisory and tax firms face similar challenges as they strive to make a name for themselves in the market and adapt over time. When REDW opened its Phoenix office in 2011, they made it a point to actively pursue growth opportunities through mergers and acquisitions and talent acquisition. In its first 18 months, the company completed one of the most successful CPA mergers in the Phoenix market when REDW LLC, Abalos & Associates PLLC and Miller, Allen & Co., PC came together under the REDW brand. on November 1, 2012. Always a proactive company, REDW has learned its learning curve from this partnership and turned it into a market force. Using its company as a research and development incubator to innovate and guide, REDW has developed a thriving business practice to help other companies grow through strategic mergers and acquisitions while continuing to use the strategy themselves, acquiring Phoenician Wealth Management LLC, CPA Global Tax and Accounting, Mack & Rohwedder, PC, Edelman Company, James C. Sell, PC, Abalos & Associates PLLC and Miller, Allen & Co., PC in the Arizona market during the last 10 years.

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Center for Jewish Philanthropy of the Great Phoenix

Even nonprofit organizations, especially when it comes to supporting their good works with financial means, need to stand out in the market. Gail Baer, ​​vice president of philanthropy and community engagement at the Center for Jewish Philanthropy of Greater Phoenix, offers several strategies, but her expertise in creating and customizing donor-advised funds (DAFs) stands out. particularly. A DAF is a charitable account with the sole purpose of supporting charities and non-profit organizations. To open a donor-advised fund, individuals must first select a sponsoring organization to manage the account. Community foundations or financial services companies manage the portfolio of assets to grow the fund. Once opened, individuals can decide where to grant funds for charitable contributions. By opening a donor-advised fund, one can reduce tax burdens after a windfall, such as selling a business or realizing capital gains in the market. There is also a way to design a legacy plan with a CFO, and a CFO can establish a named endowment fund to benefit one or more of the individual’s favorite organizations.

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