Carlson Capital Management

Integrated Wealth Management

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Security Is a Feeling, Not a Number

Cody Warren – Carlson Capital Management
Cody Warren, CFP®, CPA

Senior Integrated Wealth Advisor, Director of Financial Planning
507.321.4023
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  I find great purpose in deeply connecting and understanding the joys, hopes, and worries of individuals and families, and being able to help them accomplish their financial and non-financial goals with that foundational understanding.  

Professional Biography
Cody Warren is a Senior Integrated Wealth Advisor and the Director of Financial Planning at Carlson Capital Management. In his role as a Senior Advisor, Cody partners with clients and their families, providing the firm’s fully integrated wealth management experience, including investment management, retirement modeling, estate and educational planning and all other aspects of general financial planning and client care. In this role, Cody also connects clients with the firm’s specialists for overall portfolio management as well as direct access to expertise in areas such as tax planning and insurance analysis. As the Director of Financial Planning, Cody is responsible for training and developing advisors and paraplanners in all areas of financial planning and for driving a consistent, high quality client experience across the firm.

Cody joins CCM with nearly five years of experience in corporate tax and seven years in financial planning. Most recently, he served as a senior wealth planner at a large wealth management firm where he led comprehensive planning strategies for high net worth and ultra-high net worth individuals and families. In this work, he delivered integrated and multigenerational wealth planning related to cash flow, income tax planning, executive compensation, and estate planning based on a thorough understanding of their personal values, wealth transfer and charitable goals, and vision for their legacy.

Cody received his Bachelor of Arts degree, magna cum laude, from Augsburg University in accounting and religion. He went on to earn a Master in Business Taxation degree from the University of Minnesota’s Carlson School of Management and a Certificate in Financial Planning from Boston University. Cody is a Certified Public Accountant (CPA) and holds the Certified Financial Planner™ designation granted through the Certified Financial Planner Board of Standards. He is also a member of the American Institute of Certified Public Accountants and Minnesota Society of CPAs.

Cody is an active volunteer, serving on the board of Northfield Shares, as a BestPrep classroom volunteer, and as President of his church's council. He is also an instructor in the Certified Financial Planner (CFP®) program at Minnesota State University – Mankato.

Cody grew up near Madison, Wisconsin, and now lives in Rosemount, Minnesota, with his two children. Outside of his time at CCM, Cody enjoys the multitude of family activities, crafting holiday meals, Excel spreadsheets, and pretending to golf.

Personal Thoughts
When my son was younger and was asked what my work was, he replied, “Dad drives taxis.” Certainly, this was funny in the moment as he confused taxes with taxis. However, upon reflection, maybe he was on to something.

I find great purpose in deeply connecting and understanding the joys, hopes, and worries of individuals and families, and being able to help them accomplish their financial and non-financial goals with that foundational understanding. Or, perhaps as my son would imagine, acting as a taxi driver—helping individuals and families get from Point A to Point B (or C, F, 6, B1). Ultimately, the best laid plans are the ones solidly rooted in those goals and objectives to create the roadmap.

Now, almost 8, he understands a bit more about my work and has a bit more nuanced idea of my work. He currently believes I help people protect their piggy banks. Another great image that I like. Some of our earliest money habits and memories we formed with our first piggy banks, and it is important to recognize and honor those instinctive money habits.

It is an honor and privilege to work so closely with the clients of Carlson Capital Management to help them take their piggy bank where they want to.

Cody Warren
Cody Warren, CFP®, CPA
Senior Integrated Wealth Advisor, Director of Financial Planning

As humans, we may react emotionally to portfolio volatility, changes in career, or world events. We often feel insecure or out of control during these moments. Feeling secure, particularly financially secure, is just that—feelings. As we encounter these moments of feeling insecure, it is important to think it through: Why do I feel this way? What would make me feel better? How should I react? And then pause before reacting to reflect.

Recently, my spouse and I tried to right-size our emergency fund—the amount of cash we have on hand for the unexpected. As any wealth advisor will do, I went straight to our spreadsheet and calculated the sum of our non-negotiable expenses and multiplied it by the number of months of cash reserves to have on hand as recommended by the financial planning world. With the financial analysis in hand, we reduced the size of our cash reserves accordingly. Unfortunately, this reduction significantly increased my worry and concern. Our cash reserves were now financially optimized—but my sleep-at-night factor was not. Security is a feeling, not a number. Equally so, feeling insecure is never just a number. For us, it was the number coupled with our upbringing, careers, children, world events, and the list goes on.

What Do We Do Then?

First and foremost, we must acknowledge what we are feeling in the moment and then pause before reacting. Then, we can start asking ourselves the following questions:

  • Why? What am I feeling and why? Has anything changed in my life? Working together, we can review your goals, objectives, and values.
  • What? What was the process we used to build your financial plan and understand your hopes and dreams? What are the facts pertinent to this current moment and the overall financial plan?
  • How? How has your financial plan been implemented acknowledging what we learned? If something has changed, how do we adapt?

Financial planning is not static. Not only is the world around us constantly changing, but we as humans are, too. As your wealth advisors, we consider ourselves to be in a sacred space to honor your goals and objectives, and ultimately be a sounding board to help you understand your why. As a firm, our mission is to be a trusted partner that allows you to feel secure in the knowledge that your financial plans are complete, optimized, and integrated in order that you may use your wealth to accomplish what is important to you.

To feel secure, we must ask ourselves the hard questions. What is important to me and why? What makes me feel secure at night? What worries me? Are my actions consistent with my why? Asking these questions may feel uncomfortable. They will take time and effort to answer. But the only way to truly feel secure with a fully complete, optimized, and integrated financial plan is to first define our why. After all, security is a feeling, not just a number.


NOTE: The information provided in this article is intended for clients of Carlson Capital Management. We recommend that individuals consult with a professional adviser familiar with their particular situation for advice concerning specific investment, accounting, tax, and legal matters before taking any action.
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Published March 24, 2022 Topics: Behavioral Investing, Financial Planning, Integrated Wealth

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