Month: June 2024
The WealthStack Podcast: Bringing the Power of Planning to Philanthropy

The WealthStack Podcast: Bringing the Power of Planning to Philanthropy

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Philanthropy often remains an overlooked aspect in wealth planning, which traditionally focuses on wealth accumulation rather than distribution. But, high-net-worth individuals and families increasingly recognize that their financial legacy extends beyond the accumulation of assets. This growing interest in philanthropy demands a more integrated approach to planning, where giving is strategically aligned with overall financial goals. Platforms like PhilanthPro are bridging the gap by offering professional planning tools specifically designed for philanthropic giving. 

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Nicholas Palahnuk, Founder and CEO of PhilanthPro, about the importance of philanthropy in wealth planning.

Shannon and Nicholas also discuss:

  • The key drivers behind philanthropic contributions and why tax benefits are not the primary motivator
  • How PhilanthPro aids in managing the complexities of tax, legal, and regulatory obligations in charitable giving
  • How the Great Wealth Transfer and shifting demographics are transforming Philanthropy 
  • How this tech is different from grant management software that’s currently available

Connect with Shannon Rosic:

Connect with Nicholas Palahnuk:

About Our Guest:

Nicholas Palahnuk is the Founder and CEO of PhilanthPro. Recognizing a gap in the financial industry, he brought to life a suite of tools to foster philanthropy for a brighter future.

Palahnuk also leads a wealth management group that empowers people to live and give comfortably through sound financial planning. The Globe & Mail Report on Business named him one of Canada’s top wealth advisors. In 2020, he was nominated top under 40 by the Investment Industry Association of Canada.

Palahnuk is a member of the Forward Global philanthropy community and studies global development at Harvard University. He also founded a private foundation in 2021 to fund innovative programs that build greater mental health resilience among young people. 

Passionate about financial planning from an early age, Palahnuk became the youngest Certified Financial Planner in Canada at the age of 21. He lives in Toronto and splits his time between Canada and the US.

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The WealthStack Podcast: How RIAs Can Prepare for The Latest SEC Cybersecurity Rules

The WealthStack Podcast: How RIAs Can Prepare for The Latest SEC Cybersecurity Rules

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SEC compliance is top of mind for RIAs across the country, and their cybersecurity needs are specific. RIAs have a fiduciary responsibility to protect their clients’ data and assets, which can be vulnerable to cyber-attacks. A data breach could result in fines, penalties, and reputational damage. With the SEC proposing new rules to address cybersecurity risks, RIAs need to be prepared to future-proof their practice.

In this episode, Shannon Rosic, director of WealthStack Content and Solutions, speaks with Michael Cocanower, Founder and CEO of Advisercyber, about what pending regulations mean for RIAs.

Shannon and Michael also discuss:

  • What role the advisor plays when mitigating risks
  • Why the SEC believes firms are underinvesting in cyber solutions
  • What the AI arms races means in the context of regulation
  • How RIAs can effectively respond to and recover from a cybersecurity incident

Connect with Shannon Rosic:

Connect with Michael Cocanower:

About Our Guest:

Michael Cocanower is the founder and CEO of AdviserCyber. He has over 25 years of experience in the IT field, and specifically designed AdviserCyber to assist Registered Investment Advisors (RIAs) in complying with the most sweeping SEC cybersecurity requirements in history. Michael has led IT consulting organizations empowering small and mid-market businesses with strategic guidance. Michael is recognized as an Investment Adviser Certified Compliance Professional (IACCP ®), as well as a Certified Ethical Hacker.

Born and raised in Phoenix, Michael earned Bachelor of Science degrees in both finance and computer information systems from Arizona State University. He went on to serve in technology consulting positions for various Arizona-based companies, as well for industry giants such as Microsoft and Cisco. Michael served on the Board of Directors of the International Association of Microsoft® Certified Partners for many years and is also a past president of the Arizona Chapter of Entrepreneurs Organization. Michael is a black belt in the Kang-Sul division of Hwa Rang Do, a trained sniper, and runs in excess of 50 miles per week. In his spare time he is up for just about any type of life adventure offers to him.

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