HB Clients Rock NYC Accounting & Finance Show

As the old saying goes, “If you want something done, ask a busy person to do it.” Three of our most peripatetic clients—Molly Grubb, Anthony Glomski and Cecil Nazareth–took time out of their hectic schedules to share their expertise with 2,000 attendees at the  Accounting & Finance Show last week at New York City’s Javits Convention Center.

Molly Grubb, exit planning expert and founder of Columbus, Ohio-based Grubb Wealth, revealed secrets from her forthcoming book Build Your Dynasty. After watching her family’s success evaporate due to no plan or system, she built a system that is easily customizable to any CEO to help that owner define their purpose, simplify their life, gain more control over their business and multiply their success.

Anthony Glomski, a former Big Four CPA and founder of LA-based AG Asset Advisory, shared tips for CPAs interested in evolving from tax preparer to personal CFO. Author of the new book Liquidity and You: A Personal Guide for Tech and Business Entrepreneurs Approaching an Exit, Glomski warned attendees that IBM Watson’s alliance with H&R Block is not necessarily going to put tax preparers out of business, “but it’s definitely a sign of things to come and you need to adjust fast.” Providing investment advice alone is not enough Glomski explained, adding that you need a process that includes advanced planning and relationship management capabilities.

Cecil Nazareth, CPA, Fordham University adjunct professor and co-founder of Nazareth CPAs with three offices in the NYC tristate area, is the author of the new book, International Tax & Compliance Handbook. Using his unique lens as a global citizen, practitioner, teacher and coach, Nazareth draws on a myriad of practical examples and case studies he has collected from years in the trenches with clients, colleagues and students. When it comes to investing and doing business across borders, Nazareth said most of the reporting and compliance mistakes made by practitioners and their clients go under the heading of “they don’t know what they don’t know.” But ignorance isn’t bliss, when penalties and interest start piling up on you, Nazareth cautioned.

Empathy and generosity

In addition to being HB clients, Molly, Anthony and Cecil each worked through tremendous hardships growing up and have a genuine desire to help others make smart decisions about their wealth.

Cecil came to the U.S. from India at age 18 with no job and less than $100 in his pocket. He spent several years driving cabs and waiting tables until he finally landed a job at an accounting firm. Anthony’s father had little job security and his mom had health issues that prevented her from working. Further, his high school guidance counselor told him he wasn’t smart enough to go to college—after his parents told him they didn’t have enough money. Molly saw her family’s business go under—while her sister battled a life-threatening illness–which forced them into bankruptcy and foreclosure.

Conclusion

“The fear of scarcity always loomed large in our house,” recalled Glomski. “So, I responded in two ways: (1) I went out and made money, and (2) I learned as much as I possibly could about preserving the money I made. I never ever wanted to feel that sense of scarcity again.”

As Molly, Cecil and Anthony have demonstrated again and again, empathy is one of the most valuable skills that successful wealth advisors have, no matter how many credentials they may have after their names. Read their books. Get inspired. Share your story with us.

TAGS:  NYC Accounting & Finance Show, Anthony Glomski, AG Asset Advisory, Cecil Nazareth, Nazareth CPAs, Molly Grubb, Grubb Wealth



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