Episode 1
An Overview on Stress Testing
Securities and investment advisory services offered through Osaic Wealth, Inc. member FINRA/SIPC. Osaic Wealth is separately owned and other entities and/or marketing names, products or services referenced here are independent of Osaic Wealth.
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
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