ORLANDO, Fla. – This week on “Black Men Sundays,” host Corie Murray interviews Jabari Turner, a growth and development director at Northwestern Mutual.
The Chicago-based financial advisor sees himself as a community builder who’s here to transform people’s lives, which is something he can actually accomplish by way of the insurance and investment licenses he’s acquired.
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“My work as a financial advisor, I help people with a lot of different tools. One of the things we help with is insurance, but another big thing we help with is on the investment side, and so the entry point to be able to do that is to pass your what’s called “series licenses,” right? You get those through the organization FINRA, which is overseen by the SEC. Basically, it allows you to be able to help people invest. Invest for retirement, invest for everyday wealth building and other things that they want to do for the long haul, right? So the Series 6 and the 63 specifically that I have allows me to help people with mutual funds, 401(k)s, IRAs, Roth IRAs, all that kind of good stuff,” Turner said.
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Let’s say you’ve just set up limited liability company with Sunbiz. You may now be wondering, what do I do? Do I have to pay a fee every year, or just once?
Turner told Corie that one should first check themselves to determine if an LCC is even the right way to go about things.
“If you set up the LLC and you’re a functioning business, it is that one-time deal, but we do want to make sure that you’re using it, keeping it open. Taking a step back, I think what I found a lot of times, we know ‘LLC,’ we hear that, right?” Turner said. “There’s so many different ways to incorporate your business and so many different ways that may make sense for you, and so I always suggest, as you’re doing that, take a step back and have a conversation with an accountant, a conversation with a financial planner, just to make sure that you’re setting up most appropriate. Because, do you want to have employees? Do you want to set up retirement plans? How do you want your tax structure to look like, right? So we want to make sure — yeah, we know and we hear ‘LLC’ all the time, but that may or may not be the best fit for you. It may make sense to do a different route, like an S corp. or C Corp. or something along those lines.”
Hear the full interview and more in Season 5, Episode 6 of “Black Men Sundays.”
Black Men Sundays talks about building generational wealth. Check out every episode in the media player below.