From Tax Strategy to Industry Shifts: The Real Work (and World) of Financial Planning

#FinancialAdvice #RetirementTaxes #TaxStrategy #FinancialPodcast
Most people think financial advice is something you do once — get a plan, make a few changes, and move on. In reality, that mindset can cost you tens or even hundreds of thousands of dollars over time.

In this episode, Mike and Madison unpack why ongoing financial planning matters far more than people realize. They dive into the hidden tax mistakes even smart retirees make, how withdrawal and Social Security decisions can quietly drive lifetime taxes higher, and why tax planning is a year-by-year strategy — not a one-time fix.

The conversation then shifts to the financial planning industry itself, including the rise of private equity, the decline of true independence, and what Bob Veres calls “the great stall.” Mike shares firsthand insight into why so many advisors sell, what actually happens after a firm is acquired, and why Yardley Wealth Management chose internal succession over private equity.

If you’ve ever wondered what real financial planning looks like — or what’s happening behind the scenes in the advisory world — this episode is for you.

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Website | https://notjustnumberspodcast.com

TIMESTAMPS
00:08 – 01:19 - Introduction to Episode Topic
01:20 – 04: 23 - Why One-Time Advice Isn’t Enough
04:24 – 06:50 - The Real Mistake People Make (and How Costly They Are)
06:51 – 07:44 - Looking at Your Tax Return.. Every Year
07:45 – 10:32 - Industry Deep Dive: “The Great Stall”
10:33 – 16:06 - The Rise of Private Equity
16:07 – 16:50 - Will the Independence Spirit Survive?
16:51 – 18:09 - Closing