Description

Nick Novakovic is Vice President of WestPac Wealth Partners. He helps individuals and families overcome financial hurdles and establish stability. After a career-ending basketball injury in 2005, Nick transitioned to finance to guide others through financial disruptions. Recognized as a Forbes Top Best-in-State Security Professional in Florida in 2023, Nick is dedicated to being a lifelong resource for his clients. Outside of work, he enjoys time with his kids, staying active, and engaging with his local Eastern European community. Basketball remains a passion, having played professionally in Greece. Nick was also recognized by Forbes in 2024. 

In this episode, Philip and Nick Novakovic discuss: 

• The role of trust in professional networks 
• Building strong business relationships 
• Managing a multidisciplinary team 
• Qualified retirement plans and strategies 

Lightbulb Moments:

• Trusted relationships drive business success; find people who support, rely on, refer to, and extend your level of service. Building strong connections with clients through shared cultural values like family, community, celebration, and appreciation can overcome linguistic differences.
• Developing relationships with clients over time, vetting proper referral sources, and avoiding unrealistic expectations of immediate gratification are essential for building trust and supercharging your network.
• Offering holistic services through a multidisciplinary team approach is valuable for comprehensive financial planning. Leveraging a professional team synergistically to keep wealth, not just make it, and continuously growing your toolbox through networking and learning from experts are important.
• Utilizing qualified retirement plans and strategies like cash balance plans, profit sharing, and defined benefit plans can help business owners defer taxes, protect assets, and grow wealth through their business.

“Educating our clients and putting them in a position to make a smart financial decision is very important.” -  Nick Novakovic

Connect with Nick Novakovic: 

Website: https://www.westpacwealth.com/ 

LinkedIn: https://www.linkedin.com/in/novakovicnikola/ 

Connect with Philip: 

Website: https://www.fornarolaw.com/ 

Podcast Website: https://lbmpodcast.com/ 

"X": https://x.com/FornaroLaw 

Pinterest: https://www.pinterest.com/philipfornaro/ 

YouTube: https://www.youtube.com/@fornarolaw3002 

LinkedIn: https://www.linkedin.com/in/fornarolaw 

Instagram: https://www.instagram.com/fornarolaw/ 

Facebook: https://www.facebook.com/FornaroLaw 

https://www.facebook.com/philip.fornaro.3/ 

Nikola Novakovic is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. WestPac Wealth Partners LLC is not an affiliate or subsidiary of PAS or Guardian. Insurance products offered through WestPac Wealth Partners and Insurance Services, LLC, a DBA of WestPac Wealth Partners, LLC. CA Insurance License #0J17729. This podcast is for informational purposes only. The host and other guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or WestPac Wealth Partners and opinions stated are their own. This material is intended for general use. By providing this content Park Avenue Securities LLC and your financial representative are not undertaking to provide investment advice or make a recommendation for a specific individual or situation, or to otherwise act in a fiduciary capacity Guardian, its subsidiaries, agents and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. 7494803.1 Exp. 1/27