Carlson Capital Management

Integrated Wealth Management

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Integrated Wealth

Articles and resources related to Integrated Wealth.

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
Email Cody

  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 ... [Continue Reading]

Published March 24, 2022 Topics: Behavioral Investing, Financial Planning, Integrated Wealth

Volatility: Our Constant Companion

Jeff Carlson – Carlson Capital Management
Jeffrey Carlson, CFP®

Founder
651.437.2360
Email Jeff

  "It is the ability to put data and information together into a cohesive plan and structure that requires true expertise, experience and leadership."  

Professional Biography
Jeffrey R. Carlson is a founding principal of Carlson Capital Management. His primary responsibilities include managing client relationships and helping to lead the firm’s business development initiatives. Jeff also develops and sets the vision for the firm. Jeff is a 1983 graduate of St. Olaf College, where he earned his Bachelor of Arts degree in Economics, with specific concentrations in finance and accounting. Jeff began his career with IDS/American Express and shortly there-after earned his Certified Financial Planner™ designation. Jeff has been providing wealth management advice to clients and their families for three decades and has developed specific areas of expertise in retirement and early retirement planning, stock option management, estate planning, insurance services and developing integrated plans that include philanthropic giving.

Jeff is an active volunteer with numerous organizations including Hastings Area Rotary Club, St. Philips Lutheran Church, Fellowship of Christian Athletes, the Hastings Area YMCA, Green Lake Lutheran Ministries and the Hastings chapter of Let’s Go Fishing for seniors. Jeff is also an active alumnus of St. Olaf College, and currently serves as the Class of ’83 Correspondent and Class Fund Agent. In maintaining family tradition, Jeff is an avid tennis player and enjoys serving as a volunteer coach with the Hastings High School Tennis Team. Jeff also enjoys golf and spending time with his family. Jeff and his wife, Stacy, live in Hastings, Minnesota, where they raised their three children.

Personal Thoughts
Sports have and always will play an important part in my life. It is through these activities that I have learned hard work, discipline, and teamwork. Let me provide a few examples.

As a sophomore on the St. Olaf Basketball team, I was disenchanted with my playing time and the lack of opportunities to prove myself. With my speech to my coach memorized, I walked into his office to make my case for increased playing time. Before I was even able to say my opening line, I was presented with these words: “You are slow, you make poor decisions, and have an inability to score!”

So, I asked myself, “Do I quit or do I try to prove him wrong?”. By the end of the season, I was the first guard off the bench, lettered, and was given the “Mr. Hustle” award by my teammates. I may not have been the most talented, but I understood the value and reward in working hard and doing my best to help the team.

Another example recalls how I always wanted to follow in my father’s footsteps as a strategist and coach. I can picture my dad, days before a tennis match, shuffling and re-shuffling line ups to get the best opportunity for success against the opposing team. To a degree, what I really enjoy doing at Carlson Capital Management, I learned from my father. First, I know that to best serve our clients requires expertise and strategy from many different angles, including tax, estate, and investment perspectives. Understanding data and information is important, but it is the ability to put information together into a cohesive plan and structure that requires true expertise, experience and leadership. Second, to meet the needs of our clients, I am able to act as a coach to incorporate the best game strategies to “prevent unsuccessful outcomes” and create the best opportunity to win – that is, how to best accumulate, manage, and distribute their assets in such a manner as to help them accomplish what is most important to them.

Jeffrey Carlson
Jeffrey Carlson, CFP®
Founder

With nearly 40 years of industry experience, there are several market drawdowns that stand out in my mind, each of them with their own characteristics. We’re hearing a lot about volatility today, and we often do when the S&P 500 dips. But it’s important to remember that volatility applies just as well to times when it’s up. After all, the definition of volatility is the tendency to change quickly and unpredictably.1 In short, volatility is our constant companion and inherent to an investment ... [Continue Reading]

Published March 24, 2022 Topics: Discipline, Integrated Wealth, Market Volatility

Meet Director of Estate Planning, Janelle Schrupp, J.D.

Callie Geist – Carlson Capital Management
Callie Geist, CFP®, J.D., MBA

Senior Integrated Wealth Advisor
952.230.6706
Email Callie

  Working with our clients' finances is very personal, and for them to allow us into that space is a real privilege.  

Professional Biography
Callie Geist is a Senior Integrated Wealth Advisor at Carlson Capital Management. In this role, Callie 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. Callie 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.

Callie holds a Bachelor of Arts degree in Organizational Communication from Creighton University where she graduated cum laude. She went on to earn a Juris Doctor from the Creighton University School of Law, and is a member of Phi Delta Phi, an international legal fraternity. In addition, Callie holds an MBA from Kaplan University, and the Certified Financial Planner™ designation granted through the Certified Financial Planner Board of Standards.

Callie joined CCM after serving as a Tax Staff Accountant at a South Dakota company. As a law student and undergraduate, Callie clerked with the Kellogg & Palzer firm in Omaha, Nebraska, and worked in human capital with the SilverStone Company. Callie grew up in Northwest Iowa, and now telecommutes from Sioux Falls where she resides with her husband, Aaron. She is a fan of Minnesota sports teams, enjoys cooking and spending time with her family, friends and her faithful dogs, Brin and Charlotte.

Personal Thoughts
My interest in financial planning began when I was sixteen years old and working at one of my very first jobs. This job was in a wonderful gift shop with a small café in my hometown of Storm Lake, Iowa. I enjoyed every aspect of this job: unpacking merchandise, wrapping gifts, prepping food in the kitchen, waiting on tables, etc. However, my favorite part of the job was getting to know the customers and helping them find exactly what they were looking for. One such customer was Don, a businessperson in his 60s who was a regular patron of the café. He would come in almost daily at the end of every lunch service. I loved sitting at the table with him and chatting.

During one of our conversations, he shared with me his number one financial recommendation: open a Roth IRA and save 10% of your income into that account. Don’t worry about the dollar amount you’re contributing, he said, but focus on creating the habit. We talked about the impact that this could have on my finances long-term. So I went to the local bank where an incredibly kind woman, Julie, took the time to walk me through opening this account and answer all of my questions. Every two weeks when I was paid, I would go the bank to cash my check and contribute 10% into my Roth IRA. While the dollar amount was small, I felt empowered about making smart financial decisions. I knew that I was doing the best I could with what I had at the time.

In my role as an advisor, I love building strong relationships with my clients and learning about the people and things that matter most to them, the goals and dreams they have, and the things that keep them up at night. Just as Don and Julie helped educate and encourage me many years ago, my goal as an advisor is to walk alongside my clients as they navigate the financial obstacles and opportunities in life, so that they can feel empowered and energized in knowing they are doing the best they can with what they have.

Callie and other members of the CCM Advisory Team regularly post articles of interest on financial planning which you can find here.

Callie Geist
Callie Geist, CFP®, J.D., MBA
Senior Integrated Wealth Advisor

Our deep and broad multi-disciplinary approach to wealth management is unique in the industry and is designed to provide clients and their families with optimal outcomes. In keeping with that commitment, I'm excited to introduce you to CCM Director of Estate Planning Janelle Schrupp, J.D. In her role at CCM, Janelle lends her experience in estate planning and elder law to support clients in developing and administering estate plans to efficiently transfer wealth. She has a heart for people ... [Continue Reading]

Published February 22, 2022 Topics: CCM Women's Initiative, Estate Planning, Integrated Wealth

Tax Projections: A Wise Year-end Opportunity

Kevin Koski – Carlson Capital Management
Kevin Koski, CPA

Principal Tax Advisor
651.319.8067
Email Kevin

Professional Biography
Kevin Koski serves as Principal Tax Advisor at Carlson Capital Management and with CCM Tax & Trust Administration, a commonly-held affiliate of Carlson Capital Management. Kevin works closely with the advisory team to deliver clients fully integrated wealth management services, lending his experience to proactive tax-related planning. As a senior member of the Tax Team, Kevin plays a lead role and helps to oversee the preparation, review, and completion of individual and trust tax returns and tax projections. Kevin participates in client meetings and serves as a tax resource for clients, both individually and collaboratively with other advisors, to develop customized recommendations.

Kevin came to CCM with strong expertise having worked with clients at a St. Paul CPA firm for 15 years. In his role there, Kevin provided leadership and direction for the firm’s tax services practice, and advised clients on income and estate tax matters. Kevin was also an advisor on general financial planning topics such as stock option analysis, charitable planning, and gifting strategies for high-net-worth individuals and families. Kevin is a member of the American Institute of Certified Public Accountants and the Minnesota Society of CPAs.

Kevin grew up in Virginia, Minnesota and is a graduate of the University of Minnesota-Duluth, where he earned his bachelor’s degree in accounting. Shortly following graduation, Kevin earned his Certified Public Accountant (CPA) status. Outside of work, Kevin has three children and enjoys volunteering as a coach and assistant with their athletic teams. Kevin and his family reside in South Minneapolis.

Kevin and other members of the CCM Tax Team regularly post articles of interest on tax planning topics which you can find here.

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor

As we approach the end of the year, it is a great time to evaluate your tax situation—both for this year and next. A crucial step in the evaluation process is having a tax projection completed. A tax projection is the process of preparing a pro-forma tax return based on actual year-to-date information and on forecasted information for the remainder of the year. In times such as the past several years where we’ve experienced complex and ever-changing tax laws, a projection also allows for careful ... [Continue Reading]

Published November 2, 2021 Topics: Integrated Wealth, Tax Planning

Portfolio Management—Beyond the Returns

Adam Hoffmann – Carlson Capital Management
Adam Hoffmann, CFP®, AIF®

Chief Investment Officer
507.321.4004
Email Adam

  Being able to apply my deep-rooted curiosity in a way that allows our clients to focus on what they truly enjoy doing the most, rather than having to worry about their financial well-being, is a wonderful thing.  

Professional Biography
Adam Hoffmann is a member of the firm's Management Team and serves as Chief Investment Officer at Carlson Capital Management. In this role, he leads the firm’s investment team in the areas of trading, investment research, portfolio design and technology support for investment applications. Adam oversees analysis and execution of investment strategies for new and existing client portfolios. He consistently communicates the firm’s investment philosophy and approach by writing for firm publications, presenting to new clients, and by participating in client meetings. Adam chairs the CCM investment committee, represents the firm with strategic partnerships in the investment community, and serves as the firm’s liaison to the Zero Alpha Group investment committee. Adam holds the Certified Financial Planner™ designation granted through the Certified Financial Planner Board of Standards and has served as a subject matter expert for the CFP Board, contributing to the development of examination questions for the CFP Certification Examination. He has also served as a presenter at industry events, providing other financial services professionals with continuing education credits in investment topics. In addition, Adam holds the Accredited Investment Fiduciary professional designation, awarded by the Center for Fiduciary Studies. The AIF designation affirms the highest in fiduciary standards of care for CCM clients.

Adam graduated cum laude with Honors Program distinction from Augsburg College, where he earned a Bachelors of Arts degree in Finance with a minor in Business Administration. While at Augsburg, Adam participated in four years of varsity football and was honored by his teammates by being elected captain for both his junior and senior seasons. He also earned all-MIAC and pre-season All-American honors.

Adam is a former member of the board of directors for the Just Food Community Co-op and past trustee for the First United Church of Christ Northfield. He and his wife Rachel grew up in Hastings, Minnesota and now live in Northfield with their two daughters.

Personal Thoughts
A strong sense of curiosity is a cornerstone to who I am and how I live my life. As a kid I used to be fascinated by how things work or why things happen the way they do. I often would take things apart to see what was happening ‘inside,’ frequently with limited success at being able to put them back together. Little has changed since then with regard to my curiosity, but fortunately my success rate of being able to put the pieces back together has greatly improved. I have always been driven by this desire to solve problems and learn more about the world around me.

There is a natural connection between this curiosity and managing portfolios. The investment world today is one of relentless change and evolution. With advances in technology, there is an endless stream of news available at our fingertips that constantly impacts asset prices, shapes investor behavior, and provides an unlimited supply of data and information to digest.

It is our job at CCM to absorb this information and provide guidance and knowledge back to our clients about what it all means and how it may it impact the world we know. The most important role we play in our clients’ financial lives is not only to understand the big picture – that is the Market and the global economic system – but to be able to translate how events and changes around the globe impact each individual client and their personal financial plan.

Being able to apply my deep-rooted curiosity in a way that allows our clients to focus on what they truly enjoy doing the most, rather than having to worry about their financial well-being, is a wonderful thing.

Adam and other members of the CCM Investment Team regularly post articles of interest including investment insights, recommended reading on timely topics, and articles on portfolio management which you can find here.

Adam Hoffmann
Adam Hoffmann, CFP®, AIF®
Chief Investment Officer

The shifting from summer to fall always fills me with an urge to prepare. It’s not necessarily clear what I’m preparing for, but slowly darkening days, cooling temps, and seeing the harvest being brought in across the farms in our area triggers something deeply rooted inside me to know that change is on the horizon and it’s time to get ready. Professionally, there is a similar change in focus that occurs as October comes around, but, fortunately, the cause of this shift is more clearly ... [Continue Reading]

Published October 25, 2021 Topics: Integrated Wealth, Portfolio Management, Tax Planning

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