The Financial Detox® Show

In this show, Jason and Alex talk about the importance of integrating and closing the circle of advisers for a client. It is extremely important for a financial adviser to be working with the CPA to collaborate on behalf of the client to make sure their financial lives are maximized. Clayton “Clay Willits” was a guest speaker on the show, and he is IDA’s newest member of the team and leader of IDA Tax. He got his CPA license back in 1984 in CA and has been working in public accounting, tax, and then went back into the private industry as a CFO for several industries. The last 18 years, he has been working with individuals completing their tax returns and assisting with various levels of tax planning.Clay was a board certified flight-instructor.Jason explains that incorporating the tax advice and financial planning together as a one stop shop is so [...]

Jason Labrum opens the show with a story about a new prospective client who at the end of 2019 had 2.9M in investable assets drop to 900k within nearly nine months. After looking into what the portfolio was comprised of, is was apparent that the client had been working with a broker dealer who had sold them two highly commissionable products. The products were BDCs (Business Development Corporations) and Non-Traded REITS. A commission to the broker upwards of 15%.Alex Klingensmith adds that at a one-million-dollar investment the commission would be paid to the broker dealer first and the client would start with 850k investment. In addition, and unfortunately for this client, these products did not experience the rebound that the market experienced during that nine-month period.Jason and Alex continue the topic of, Investment Products, a discussion that will help their listeners think about, what is being sold to them [...]

In this show, Jason and Alex talk about stress testing portfolios and how to invest for the future. This is extremely important given all the uncertainty surrounding potential election results, and the future of our economy. The main goal is to stress test client financial plans and investment strategies to truly achieve financial peace of mind. This allows investors to make good financial decisions by cleansing their financial mindsets to focus on things they can control. Alex discusses that highly contentious elections, civil rights movements, and democracy aren’t new things, but the way that investors and leaders choose to act around those major events is an opportunity to build and improve on experiences from the past.Jason and Alex talk about what a financial plan really is. They define a financial plan as taking all financial information in one’s life and programming it into a very sophisticated software that models [...]

Markets are at an almost ALL time high, there is an upcoming election and the Pandemic is still present. Jason Labrum and co-host Alex Klingensmith discuss the market and why it continues to tick up. The focus of the show today will discuss New School Factor Portfolio’s and what that means to investors. Markets are forward looking mechanisms- taking all the collective knowledge of the entire universe and the market participants who are researching, analyzing, and forecasting to get a clear picture of what to expect. Today’s topic focuses on the evolution of science in investing- Factor Investing. Invest your portfolio with the lowest possible cost, maximum tax efficiency with the best potential returns for the amount of volatility and risk you are willing to accept. New School Factor Investing is not new in the sense that it’s never been done before, its more of an evolution of science [...]

FINANCIAL DETOX® BOOK ACHIEVE FINANCIAL PEACE OF MIND AND FREE YOURSELF FROM FINANCIAL TOXICITY. The FINANCIAL DETOX® Book authored by Jason Labrum (Founder and CEO of IDA Wealth) describes a path to helping you MAKE THE MOST OF YOUR WEALTH! Whether you have sold a business, saved in a 401(k) or other investment account, or accumulated wealth, there is a right way to preserve and grow your wealth. In his book, Financial Detox®: How to Steer Clear of Toxic Advice, Achieve Financial Independence, and Manage Your Wealth for Maximum Impact, Jason Labrum--Certified Financial Planner™ and Accredited Investment Fiduciary™--will expose many of the misconceptions about investing and also help you build the knowledge so you can have an investment strategy that is founded on academic evidence and driven by data. Once you see this data it will become clear there is a way to "Pursue Better" when it comes to [...]

In this show Jason and Alex debunk the common perception that performance of markets is correlated to which political party is in office. They warn against misinformation out there surrounding this topic; investors may make costly mistakes when they make changes to their portfolio based on prediction of election results.They present historical data, since the S&P 500 was created, that show there is no pattern of market growth or decline according to which party is in office. Jason offers to share this Investing During Election Years report with listeners. Interested listeners should email him at jason@financialdetox.com for a complimentary copy of it.Jason and Alex then stress the importance of focusing on what investors can control, amidst the shut-down of the global economy. They offer a complimentary second opinion to any listener who would like advice on their portfolio, including a risk analysis. The Financial Detox team has a world [...]

In this show Jason and Alex educate consumers on how to avoid the common pitfalls of annuities, and the uncommon reasons why one could be an effective part of a portfolio.They begin by warning listeners that most people who sell annuities are highly compensated for selling them, via commissions paid by the consumer. Thus, they prioritize selling them over other financial solutions. Jason offers to listeners free education about annuities via a phone conversation. Listeners can call the Financial Detox team for the unfiltered and unbiased truth about annuities, as they are full-time fiduciaries. They do not sell many annuities, but they do occasionally recommend them to clients when they are appropriate. In the rare case they do recommend an annuity, they do not allow their advisers to take large compensation upfront. Rather, they allow them to take small compensation up front and level it over time so there are [...]

Jason and Alex commiserate with the audience on the resurgence of COVID-19 cases across the country. In a world that seems to be changing rapidly they bring the conversation back to focusing on what we can control, taxes and insurance being the focus of today’s show. They start by addressing insurance because many investors are asking about principal protection and alternative asset classes. While annuities do provide principal protection and guaranteed income for life, they explore the various issues that surround them. Jason reminds listeners that one of the things that makes him most frustrated with annuities is the people that sell them and how they fail to disclose their compensation. They also tend to not fully explain how investors miss out on the power of the markets and forego liquidity of their money by purchasing annuities. Alex reminds listeners of his learning experience being in the annuity only [...]

In this show Jason and Alex provide listeners with a high-level process for building an optimal portfolio. They educate listeners on the importance of understanding and applying behavioral science and factors to this process. Jason and Alex bring to light how important discipline is to investor success. Success in investing requires having a disciplined investment philosophy, and continuously working to improve it. Understanding behavioral finance and factors are vital to this.Jason and Alex discuss some types of behavioral mistakes investors typically make. They highlight regret, due to the importance of freeing investors lives of unnecessary stress and investment mistakes. They discuss how behavioral finance shows people should control the things they can and ignore the things they can’t control.They then educate listeners on what factors are, and share examples of types of factors. Successful investors need to determine which factors have persistent higher probabilities of having better performance, based on [...]

Jason and Alex invite special guest Scott Palka to the show, to help small business owners amidst the “new normal” of continuous change. They announce that IDA is now filming all shows, to provide an additional educational resource to consumers.Jason begins the show by introducing Scott, jedi master of helping business owners financially plan. He is the creator of an innovative model that helps small business owners with high level financial planning. This simple, short term projection tool provides a range of estimates for different scenarios, to help business owners make better decisions.Jason points out how difficult it is to be a successful investor without a quality financial plan, and the consequences are even more severe for business owners who lack a proper financial plan.Scott shares a common mistake he has seen small business owners make in these times – focusing on how to accomplish PPP forgiveness, at the expense [...]