Our host Jared Siegel flips the switch and is the guest in this week’s one-year anniversary episode of Success That Lasts.

Jared leads Delap Wealth Advisory and is a partner and the Chief Development Officer at Delap. Fittingly, the podcast’s first-ever guest, President of Cobalt Development Bart Dickson, acts as host for this week’s show. He and Jared talk about wealth and the importance of planning.

Tune in here, at delapcpa.com/podcast, or wherever you listen to podcasts:

Here are the highlights from our one-year anniversary episode:

  • Jared shares his professional background, from college football, to being an entrepreneur, to eventually joining Delap LLP, and then becoming the head of their wealth advisory sister company.
  • Bart asks Jared to describe his role as wealth manager. It’s a combination of ethics and values and the science of financial decision-making, Jared replies. Most importantly, the client is the one with control over the type of relationship they form and the conversations they have.
  • Not all goals are created equal: they can be categorized into needs, wants, and wishes. “Creating a plan that delineates needs, wants, and wishes allow us to inform future decisions,” Jared says.
  • A common denominator among first-generation wealth is a commitment to work ethic; the wealth was a by-product of their passion, it wasn’t their primary focus. It’s important to be intentional about transferring the values that created your wealth — instead of the value of the wealth — down to your second generation because it could easily be squandered.
  • Dedicating time to count your blessings daily can wire your brain to see the positives in life and be more grateful. “Gratitude is the ramp to joy,” Jared claims. In order to have joy, you must first have gratitude, which requires reframing your intentionality.
  • Bart asks Jared to give insight into his purpose for starting Success That Lasts, and how it has been fulfilling that purpose. “I started wrestling with this idea of ‘Hey, we all want to win and be successful. I wonder if there’s a way to be intentional about questions so that it’s a facilitated process versus prescription,’” he shares. “I wanted to use Success That Lasts to learn, so I don’t sit here and lecture… I wanted to share what I’m learning with our community… and start a different type of conversation.”
  • Bart talks about the impact that Jared and Delap LLP have had on him as a client. He shows his appreciation for the time, effort, and consideration that they have invested in him.
  • Transparency is a good thing to foster with your children if you are an affluent family, Jared advises. You should ensure that they know early about the wealth the family has, why they have it, and how they think about it. He has observed that transparency serves as preparation for when children get older and become involved in the operations of the family business.