In this episode of "The Free Lawyer" podcast, host Gary Miles interviews Frank Rekas, a financial expert and partner at Palm Wealth Partners. Frank shares insights on helping law firm owners simplify finances, minimize taxes, protect assets, and grow wealth using his NPG (Minimize, Protect, Grow) system. The discussion covers common financial blind spots, the importance of proactive planning, and practical strategies for attorneys to achieve financial clarity and confidence. Frank emphasizes a client-centered, honest approach and encourages lawyers to prioritize their financial well-being for long-term security and peace of mind.
Law Firm Owners’ Financial Challenges (00:04:16)
Top Financial Concerns for Law Firm Owners (00:05:32)
Law Firm vs. Personal Budgeting (00:07:04) \
The MPG System: Minimize, Protect, Grow (00:07:57)
Common Financial Blind Spots (00:10:36)
Benefits of Non-Retirement Investments (00:12:41)
Working with Attorneys: Challenges and Benefits (00:13:44)
Serving, Not Selling: Client-First Philosophy (00:14:50)
Personalized Financial Planning (00:17:01)
Law Firm Owners’ “Aha” Moments (00:18:25)
Building Financial Confidence (00:20:24)
First Steps for Overwhelmed Law Firm Owners (00:22:12)
Commonly Missed Tax Strategies (00:23:31)
Year-Round Tax Planning (00:25:03)
Achieving Financial Confidence and Freedom (00:25:27)
Advice for Stressed Law Firm Owners (00:27:21)
Money Mindset and Family Background (00:29:40)
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