Inheriting money sounds straightforward, but for many families, it becomes one of the most confusing and emotionally loaded financial moments they will ever face.

In this episode, the client learns why preparation, guidance, and the right advisor matter more than the inheritance itself.

Jim Sumpter, CFP®, is joined by fellow CFP® David Pulcini Jr. for an honest conversation about the Great Wealth Transfer and why so many families are not fully prepared when assets change hands. Together, they unpack what really happens when money, property, and responsibility pass from one generation to the next, and where costly mistakes often occur.

Jim Sumpter, CFP®, discusses:

• Why most heirs are unprepared for inherited wealth
• The difference between inheriting assets and managing them well
• What fiduciary responsibility really means in real life
• Questions every family should ask before and after an inheritance
• Common mistakes families make when wealth transfers occur

Resources:

• Six Point Financial Partners: YouTube Channel

Connect with Jim Sumpter:

• 205-510-9074
• CMC Financial
• LinkedIn: Jim Sumpter
• LinkedIn: CMC Financial
• Facebook: CMC Financial
• Instagram: CMC Financial
• YouTube: CMC Financial

Connect with David Pulcini Jr.:

• LinkedIn: David Pulcini Jr.
• SixPoint Financial Partners

About Our Guest:

David Pulcini Jr. is a Certified Financial Planner® and founder of Six Point Financial Partners in Rochester, New York. He also hosts the podcast The Great Wealth Transfer, where he helps families understand inheritance planning, financial decision-making, and generational transitions.

What does real diversification actually look like when markets feel noisy and unpredictable? In this episode of The Financial Puzzle Playbook, Jim Sumpter, CFP®, sits down with trading desk expert Paul Wankmueller to break down how stocks really work, why diversification goes far beyond numbers, and how investors can stay grounded when headlines and emotions compete for attention.

In this episode, the client gains a clearer understanding of how ownership, trends, and discipline play a role in building portfolios that are designed to weather real life, not just ideal market conditions.

Jim Sumpter, CFP®, discusses:

• (04:10) How market volatility works and why diversification can support both risk-averse and growth-focused investors
• (05:13) What a stock actually represents, including ownership in public versus private companies
• (07:30) Why owning multiple stocks does not automatically mean true diversification
• (14:47) How technical analysis helps eliminate market noise and focus on major trends

Connect with Jim Sumpter:

• 205-510-9074
• CMC Financial
• LinkedIn: Jim Sumpter
• LinkedIn: CMC Financial
• Facebook: CMC Financial
• Instagram: CMC Financial
• YouTube: CMC Financial

Connect with Paul Wankmueller:

• LinkedIn: Paul Wankmueller
• RFG Advisory

About Our Guest:

Paul Wankmueller is a trading desk professional with extensive experience in technical analysis, commodities, and market trends. With a background that includes time on the trading floor and years analyzing price behavior across asset classes, Paul brings a grounded, real-world lens to investing, diversification, and long-term market participation.

*Diversification does not guarantee a profit or protect against loss in declining markets.

Most families think adding a child to a parent’s bank account is a simple act of love, but Jim Sumpter CFP® reveals how easily it can create tax issues, legal exposure, and long-term family conflict.

In this episode, Jim breaks down why ownership matters more than most people realize and why wills often never even come into play. Through real client stories and personal examples, he explains how joint accounts, powers of attorney, TOD designations, and cost basis rules work behind the scenes, especially when parents begin relying on their children for financial support.

What to expect:

• When joint ownership creates unintended gifts or tax bills
• How beneficiary rules override wills
• Hidden legal risks tied to siblings, creditors, and lawsuits
• Better tools for caregiving and estate planning
• And more!

Connect with Jim Sumpter:

• 205-510-9074
• CMC Financial
• LinkedIn: Jim Sumpter
• LinkedIn: CMC Financial
• Facebook: CMC Financial
• Instagram: CMC Financial
• YouTube: CMC Financial