Path to Abundant Living

Scott Morrison and Matt Nordmann

Welcome to Path to Abundant Living, where we address pertinent topics surrounding wealth management to help better position yourself, your family, and your business for success. Listen as Scott Morrison and Matt Nordmann, Managing Partners of Morrison, Nordmann & Associates, tap into their wealth of financial experience and address various strategies and services they utilize for their clients. So sit back, relax, and enjoy intriguing financial conversations that place you on path to abundant living and help you navigate the rest of your life.

Path to Abundant Living - Episode 8 (Five Mistakes Affluent Homeowners Make)
Jan 5 2022
Path to Abundant Living - Episode 8 (Five Mistakes Affluent Homeowners Make)
Affluent families and individuals often have an overwhelming amount of things on their plate, making it easy to overlook issues tied to one of their largest assets. Our homes are not only a massive asset, but they are also important to our financial security and personal sense of stability. In the latest installment of Path to Abundant Living, Matt and Scott are identifying the five critical mistakes that affluent homeowners are making today. Whether it be a lack of adequate coverage, or ensuring the right items are covered under different policies, affluent families are regularly making costly mistakes! This is an episode packed with useful information to help mitigate risk within your portfolio and bolster your financial plan overall. So sit back, relax, and enjoy yet another thought-provoking episode! Timecodes: 0:06 - Overview on the topic of the day 1:44 - Why homeowners should be doing a financial check up on their homes 3:20 - The five most significant mistakes homeowners are making these days 5:30 - The most concerning issues with making these mistakes 7:30 - How someone can tell if they have a lack of adequate coverage 8:46 - Issues for families that have more than one home 10:30 - The importance of listing LLC's on a homeowners insurance policy 12:16 - Issues related to homes with unique architecture or building materials 14:20 - Issues related to valuable collections and heirlooms 17:20 - Next steps for those looking to take action and mitigate these potential risks 20:13 - Closing remarks Connect with Scott Morrison and Matt Nordmann: (Website) (LinkedIn)
Path to Abundant Living - Episode 6 (Do You Have What it Takes to Create Significant Wealth?)
Oct 12 2021
Path to Abundant Living - Episode 6 (Do You Have What it Takes to Create Significant Wealth?)
In the latest installment of Path to Abundant Living, Scott and Matt take a different approach to their typical conversations and address the best practices for generating a significant level of wealth. There's no denying that entrepreneurship is the most effective method of generating wealth, but it takes more then a great business plan. Matt and Scott identify and take a deep dive into the four drivers of success: a commitment to achieve, a quality business model, an ability to build strong relationships, and a willingness to engage with elite wealth planners. Additionally, Scott and Matt share their own personal experiences with entrepreneurship and the lessons they learned along the way! So sit back, relax, and enjoy an intriguing conversation in this special edition of Path to Abundant Living. Timecodes: 0:04 - Welcome to the show and overview on the topic of the day 2:00 - Entrepreneurship is one of the most effective ways to generate significant wealth 3:08 - The four best practices of the most successful entrepreneurs 5:06 - The commitment to achieve success 7:14 - The commitment itself isn't enough and action needs to be taken 9:10 - The importance of developing a high-quality business plan 11:33 - The ability to build powerful relationships and its impact on wealth creation 13:46 - Insight on building and maintaining a high-quality team around you 16:03 - Why working with the right professionals is so important to elevate a company's status 19:58 - Scott and Matt share experiences from their own relationship with entrepreneurship 22:47 - Summarizing how entrepreneurship is the most effective way of generating wealth 25:18 - Closing remarks Connect with Scott Morrison and Matt Nordmann: (Website) (LinkedIn)
Path to Abundant Living - Episode 5 (The Benefits of a Family Constitution)
Sep 28 2021
Path to Abundant Living - Episode 5 (The Benefits of a Family Constitution)
One of the biggest concerns facing affluent families is how to manage their wealth so that it achieves many goals. Their focus could be continuing to grow their wealth as it is transferred to younger generations, or aligning the use of that wealth with the values and ideals the family holds dear, or even protecting that wealth from creditors and others who might seek to take it unjustly. Often the best place to start, is to ensure that your family members are aligned when it comes to key issues. A family constitution can be a great way to get that process going. In the latest installment of the show, Scott and Matt explore the benefits of establishing a family constitution to ultimately promote clarity and harmony when it comes to managing family wealth. Timecodes: 0:05 - Welcome to the show and overview on the topic 2:20 - The types of challenges arising when families with wealth work together to manage their assets 4:30 - Specific wealth-related issues with families possessing significant assets 5:43 - What families can do to create and maintain harmonious relationships surrounding their wealth 7:07 - How a family constitution works and promotes better relationships across the family 8:48 - How a family would go about drafting this document 11:22 - Who from a given family should be involved in discussing these issues 13:17 - Is this a legal and binding document? 15:00 - How does this document remain relevant over time? 16:35 - Who families can turn to for help with this process 18:47 - Summarizing the benefits of the family constitution 20:59 - Closing remarks Connect with Scott Morrison and Matt Nordmann: (Website) (LinkedIn)
Path to Abundant Living - Episode 3 (Preparing Heirs for Their Inheritance)
Jul 19 2021
Path to Abundant Living - Episode 3 (Preparing Heirs for Their Inheritance)
In the latest installment of Path to Abundant Living, Scott and Matt explore the complex nature surrounding inheritances. The big question surrounding this topic is: Are your heirs ready to deal with the wealth you may be planning to pass on to them someday? It's an unfortunate fact that inheritors often struggle with their windfalls in a way that can be hazardous to the overall wealth. It takes proper planning and clear communication to alleviate any potential problems that could occur with the inheritance itself, as well as the beneficiaries' spending habits afterwards. We all understand the general process behind inheritances, but this episode unveils the intangible elements that come into play, especially when a significant level of wealth is being transferred. So sit back, relax, and enjoy another enlightening conversation that sheds light on a topic we all thought we knew. Timecodes: 0:05 - Introduction and overview on today's topic 1:24 - Why inheritances overall can be a double-edged sword 3:50 - The internal and external problems beneficiaries can face during this process 5:55 - Where to begin with addressing these issues and help prepare the heirs 7:15 - What affluent families are doing and not doing when it comes to preparing heirs 9:00 - Where to begin with fostering a level of financial intelligence with future heirs 11:26 - An individual's. current view and actions with wealth can tell you a lot 14:32 - Is there an approach that's more appealing to educate an heir? 17:29 - Additional elements family matriarchs and patriarchs should be considering 20:10 - These education efforts are universal and shouldn't change depending on amount of wealth 22:00 - Who families can turn to for help with this entire process Connect with Scott Morrison and Matt Nordmann: (Website) (LinkedIn)
Path to Abundant Living - Episode 2 (What Makes a Good Wealth Manager Great)
Jun 8 2021
Path to Abundant Living - Episode 2 (What Makes a Good Wealth Manager Great)
In the second installment of Path to Abundant Living, Matt and Scott explore the key ingredient missing within most wealth managers and why affluent individuals should be demanding more out of their financial planning professional.  It’s no secret that the affluent have access to the top financial professionals, who possess the highest levels of financial acumen attainable. However, in most cases, that isn’t enough to efficiently and effectively manage a client’s portfolio. In this episode, Matt and Scott highlight the importance of the human element and its role within their conversations with clients. Only by understanding the client’s core values and personal goals, will a wealth manager be able to develop the most effective wealth strategy. So sit back, relax, and enjoy another enlightening conversation surrounding the client. By understanding what is most important to you, and what you hope to ultimately achieve your wealth, your wealth manager can begin to set you on the path to abundant living. Timecodes: 00:06 – Introduction and overview on today’s episode 02:22 – Why those with significant assets should be demanding more from their wealth manager 04:00 – The missing link when it comes to a majority of wealth managers today 05:15 – What the human element entails 8:25 – Why the human element is so important within wealth management specifically 11:00 – How the human element is weaved into the overall stress testing process 12:40 – Instances where a stress test reveals no problems 14:06 – How to assess whether a wealth manager cares about the human element as a whole 17:21 – What Matt and Scott would look for when seeking out a wealth manager 18:28 – The discovery process at Morrison, Nordmann & Associates 20:10 – Other important aspects when it comes to delivering the human element 22:42 – Closing remarks   Connect with Scott Morrison and Matt Nordmann: (Website) (LinkedIn)
Path to Abundant Living - Episode 1 (Stress Testing)
May 24 2021
Path to Abundant Living - Episode 1 (Stress Testing)
In the inaugural episode of Path to Abundant Living, we introduce you to Scott Morrison and Matt Nordmann, Managing Partners of Morrison, Nordmann & Associates, as they shed light on one of the most important financial conversations of all - the stress testing process. Stress tests are an integral part of Scott and Matt's wealth management process and they are designed to evaluate whether an individual, family, or business's current financial portfolio is likely to generate the results they want and expect. Scott and Matt work with an array of clients, with varying net worths, and there are numerous lessons to be learned in watching the stress testing process be utilized throughout these different circumstances. So sit back, relax, and enjoy and enlightening conversation surrounding the benefits of this process and how a stress test can be used to benefit your own wealth management strategy. Timecodes: 00:06 - Show introduction and overview on the show 01:05 - Introducing Scott Morrison and Matt Nordmann 02:22 - What people can be doing right now to give them peace of mind about their finances? 04:10 - Why the stress testing process is so valuable 06:14 - The three main ways a stress test can be utilized 07:54 - An example of why someone was prompted to come get a stress test 10:15 - An example of how a stress test helped benefit someone's financial situation 13:08 - The keys to make sure a stress test is being done well 14:00 - How the human element comes into play during this stress testing process 15:56 - How Scott and Matt get into the heart of their clients' goals and values 20:00 - A lesson that can be learned from the super rich individuals 23:00 - What the stress testing experience looks like when working with Scott and Matt 27:27 - Final remarks Connect with Matt and Scott: (Website) (Facebook) (LinkedIn)