Category: Finances

FEATURE
What’s A Law Firm Worth? With Serena Amlie, CFA (Ep.13)

What’s A Law Firm Worth? With Serena Amlie, CFA (Ep.13)

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There are any number of reasons to determine the value of your firm, especially if you are planning to sell your practice. But how do you do that? 

In this episode, Darren Wurz talks with Serena Amlie, CFA, a manager at ComStock Advisors, about the process of performing a valuation for a law firm. She also explains what you can do to improve the value of your business to sell it for top dollar.

Serena discusses:

  • Two reasons why law firms get a valuation done 
  • Ways a law firm valuation is different from other businesses
  • Two different methods she typically uses to evaluate the law firm
  • Ways to improve the value of your law practice ahead of sale
  • And more

Connect With Darren Wurz:

Connect With Serena Amile:

About Our Guest:

Serena is a Senior Associate in ComStock Advisors’ Cincinnati office and has performed hundreds of valuations of businesses ranging in size from under $1.0 million in revenues to over $0.5 billion. She assists business owners in determining the value of their company for purposes including succession planning, mergers and acquisitions, employee stock ownership plan implementation and annual updates, estate and gift tax, shareholder disputes, divorce litigation, corporate planning, and appraisal reviews. Highlights of Serena’s valuation industry experience include manufacturing, marketing and branding, architecture and engineering, food and beverage, and construction. Serena is a Chartered Financial Analyst ® and a member of the ESOP Association, the American Society of Appraisers, and the Covington Business Council. She teaches a monthly financial literacy course to high school students at Covington Classical Academy. Serena earned a Bachelor of Business Administration in Finance from Xavier University.

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Law Firm Succession With Thomas Cuni (Ep.12)

Law Firm Succession With Thomas Cuni (Ep.12)

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As a business owner, growing your law firm is one of your priorities. However, what happens when you’re ready to retire or sell your business, do you have a succession plan?

In this episode, Darren Wurz talks with Thomas Cuni from Cuni, Ferguson & LeVay Co., L.P.A. He discusses the importance of having a succession plan and why money isn’t everything when it comes to lawyers deciding when the right time to retire is. 

Thomas discusses:

  • The importance of having a succession plan in place
  • Why most firms might not survive after their founder leaves the business
  • How retirement planning and succession planning go hand in hand
  • Why selling your practice isn’t a retirement plan
  • And more

Connect With Darren Wurz:

Connect With Thomas Cuni:

About Our Guest:

Thomas L. Cuni earned his law degree from the University of Cincinnati, College of Law. He was one of the founding partners of Cuni, Ferguson & Levay Co., LPA, where he currently serves as of counsel. His primary focus throughout most of his career has been the representation of small businesses, especially the formation of companies and purchase and sale of businesses. He has organized several hundred business entities and represented clients in the purchase and sale of more than 200 significant commercial real estate holdings. These skills and experiences led to his current work—helping law firm owners develop succession plans and successfully sell their practices.

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Maintaining A Healthy Lifestyle During The Holidays With Jerry Scarlato (Ep.11)

Maintaining A Healthy Lifestyle During The Holidays With Jerry Scarlato (Ep.11)

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Attorneys and law firm owners are already busy as it is. Now, throw in gift shopping, holiday parties, and time away from work and this time of year can really be very stressful. How do you manage stress and stay healthy during the holidays?

In this episode, Darren Wurz talks with Jerry Scarlato, owner of Thriveology, and fitness coach. He will offer tips for staying healthy during the holidays and explain how shifting your perspective on what a healthy lifestyle looks like can help you live a happy life.

Jerry discusses:

  • How shifting your mindset around exercise can increase your productivity
  • Some tips on how to stay active on your laziest days
  • How to stay on track with your lifestyle when going to holiday parties 
  • The importance of balance
  • And more

Connect With Darren Wurz:

Connect With Jerry Scarlato:

About Our Guest:

Jerry Scarlato is an Entrepreneur, Fitness Coach, Performance Advisor, author, speaker, foodie and book lover. His passion is helping people become the best version of themselves through fitness and lifestyle development. As a coach and advisor, he has spent the last 10+ years honing my skills on what it takes to create lasting change in my clients. Because if you’re not able to make fitness or nutrition stick, the rest of it doesn’t matter. As an entrepreneur, Jerry has been a part of a wonderful team that has grown Thriveology at a rate of 20% a year since its inception in 2014. Time flies when you’re having fun! As an author, speaker and corporate presenter, he has educated people on the importance of developing sustainable habits to fit their life. Jerry has also advised groups and individuals on a corporate level to help maximize their performance and become as productive as possible via better health and vitality. 

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Investing In Your Future (Ep.10)

Investing In Your Future (Ep.10)

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A little self-care can go a long way. This may include taking some personal time, eating better, and getting regular exercise. But it should also mean investment planning for your future.

In this episode of The Lawyer Millionaire, Darren Wurz shares how four investment groups thrive in different environments and how your returns are a function of your risk tolerance.

Darren discusses:

  • The concept of compound growth
  • Why it’s a mistake to dip into your retirement funds
  • The four major groups of investing asset classes and when to use them
  • And more

Resources:

Connect With Darren Wurz:

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FEATURE
The 5 Worst Investment Mistakes (Ep. 9)

The 5 Worst Investment Mistakes (Ep. 9)

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How often have you seen the market dip and immediately want to pull out your investments to avoid further losses? That would be one of your biggest mistakes.

In this episode, Darren Wurz shares the top five investment mistakes made when faced with market volatility and how he helps clients protect themselves from increasing losses. He reveals the dangers of impulse decision making, how those decisions create missed opportunities and the long-term consistency of investment markets that should be driving decisions.

Darren discusses:

  • Why investors should avoid major changes to investment strategies
  • The psychology behind client decisions when faced with market volatility
  • The importance of patience when working with the market
  • How risk can increase or decrease losses and gains within the market
  • And more

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Starting Your Own Practice with Russell Kohn (Ep.8)

Starting Your Own Practice with Russell Kohn (Ep.8)

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Starting an individual practice in law is not an easy step. But will you let that stop you from starting your own business?

In this episode, Darren Wurz talks with Russell Kohn, a personal injury attorney and owner of Kohn Law Office. Russell shares some insights on how he started his practice, turned it into something profitable and built a successful career.

Russell discusses:

  • What encouraged him to initially practice law
  • What inspired him to go out on his own
  • His biggest fears when he was transitioning into a solo practice
  • What marketing strategies are working for him
  • And more

Resources:

Connect with Darren Wurz:

Connect with Russell Kohn:

About Our Guest:

As the founder of the Kohn Law Office, Attorney Kohn has limited his practice to representing injured victims in car accidents, wrongful death, and premises liability matters since 1987. Mr. Kohn is a lawyer for people, and does not represent businesses, corporations or insurance companies.

He enjoys the personal and professional satisfactions that come from helping injured people obtain full and fair compensation. He is a lawyer who empathizes with his clients, and takes the time to understand the unique effects of the injuries to the specific lifestyle of each client.

As an attorney for people, Mr. Kohn is attentive and responsive to his clients. Each client’s case is personally handled by him, rather than by paralegals or office staff. He believes that a successful resolution of a case is only achieved if the client is satisfied with the result. He also believes that a satisfied client is one who is fully informed about the applicable law, facts, and available options. For this reason, Mr. Kohn is always accessible to his clients by phone and office visits. He is trustworthy, experienced, and aggressive.



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Tax Planning For Attorneys With Mike Jesowshek, CPA (Ep.7)

Tax Planning For Attorneys With Mike Jesowshek, CPA (Ep.7)

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Taxes are a major concern for many successful attorneys and law firm owners. 

In this episode, Darren Wurz talks with Mike Jesowshek, CPA, and host of the Small Business Tax Savings Podcast. He discusses how he can help you with tax planning, and also walks you through the journey to tax minimization.

Mike discusses:

  • How he helps business owners and attorneys with taxes
  • After-tax versus pre-tax dollars
  • What is unique about tax planning for attorneys
  • Five main steps in the journey to tax minimization
  • And more

Resources:

Connect With Darren Wurz:

Connect With Mike Jesowshek:

About Our Guest:

Mike is the Founder and Host of the Small Business Tax Savings Podcast. He has spent his entire career as an entrepreneur. Mike was CFO and co-founded several companies. Throughout that journey, he has experienced all business stages, from the good to the bad.

Mike’s mission is to help hard-working business owners overcome complex IRS rules and over-inflated tax bills so they can enjoy the fruits of their labor. This is how the Small Business TaxSavings Podcast was born.

Mike earned his Bachelor’s degree in Business Administration and Master’s degree in Accounting. He is a licensed CPA.

When Mike is not in the office you can find him spending time with family and friends. He is also an avid sports fan and you can often find him rooting for his Milwaukee Brewers, Wisconsin Badgers, Milwaukee Bucks, and Minnesota Vikings.



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Outpacing Inflation Rates With Travis Wurz (Ep.5)

Outpacing Inflation Rates With Travis Wurz (Ep.5)

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Inflation is simply the phenomenon of prices going up everywhere. But the reality is we don’t need to just keep up with the pace of inflation, we need to outpace inflation.

In this episode of The Lawyer Millionaire, Darren Wurz talks with Travis Wurz, a financial goal planner and consultant at Wurz Financial. They discuss how you might be impacted by inflation in your daily life and why it’s important to have some sort of risk managed strategy in place.

Travis discusses:

  • What inflation is and what causes it
  • Some of the biggest concerns on people’s minds with inflation on the rise
  • The two tools the government can use to deal with inflation
  • And more

Resources:

Connect With Darren Wurz:

Connect With Travis Wurz:

About Our Guest:

Travis Wurz specializes in serving business owners, realtors, and self-employed individuals. He primarily works out of the Toledo office. He is a graduate of the University of Toledo with a Bachelor’s degree in Financial Services. He has both his Series 7 and Series 66 licenses.

In his work with real estate professionals, he has found that his clients are interested in building up passive income. He helps his clients create a diversified income stream, build long term wealth, and plan for retirement.

Travis is passionate about continuing the family legacy of providing sound and intelligent planning services to our new and existing clients. He is active in his local community as a member of the Maumee Chamber of Commerce, The Chamber Partnership, and the Women’s Council of Realtors.

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FEATURE
Retirement Planning for Lawyers (Ep.4)

Retirement Planning for Lawyers (Ep.4)

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Most attorneys will eventually retire and you shouldn’t wait until the last minute to start planning for your retirement.

In this episode of The Lawyer Millionaire, Darren Wurz discusses the challenges you may be facing in the legal profession when it comes to your retirement planning.

Darren discusses:

  • Why attorneys procrastinate when it comes to retirement planning
  • Some of the biggest fears that attorneys have about retirement
  • The difference in planning for retirement as an attorney then it is for anyone else
  • The importance of having a good investment strategy
  • And more

Resources:

Connect with Darren Wurz:

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