ADVERTISEMENT
  • About
  • Contact
  • Testimonials
  • Demographics & Advertising Rates
Tuesday, January 19, 2021
Search
    Generic filters
    California Business Journal
    54 °f
    Los Angeles
    66 ° Wed
    62 ° Thu
    58 ° Fri
    52 ° Sat
    52 ° Sun
    51 ° Mon
    • Front Page
    • Business
      • Insurance
      • Real Estate
    • Finance
      claiming gambling losses on your taxes

      Can you claim gambling losses on your taxes?

      Nicholas Yrizarry

      In Perfect Alignment

      Invest-in-Your-Childs-Future

      Start Investing Now For Your Child’s Future

      IMG 8554 - From a “Wish List” to a “Reality List”

      From a “Wish List” to a “Reality List”

    • People
    • Featured
      Silicon V Real Instituto

      The Entrepreneurs ‘Angell’

      West Gary, MinTech’s Chief Technical Officer2

      Dust Buster

      Flags-of-the-world

      The Impact of Covid: Racing to Buy Second Citizenships

      Photonic Chip

      The First Photonic Chip Has Arrived. What Does That Mean For Augmented Reality?

      Supreme Court Sports Betting

      California’s Bid for 2022 Sports Betting Legislation

    • Technology
      West Gary, MinTech’s Chief Technical Officer2

      Dust Buster

      Plaxonic Technologies Innovate

      Plaxonic Technologies: Leading Innovation

      tech devises of the future - Latest Devices to Make Our Lives Easier

      Latest Devices to Make Our Lives Easier

      hands of business people typing on a keyboard - Should You Start An Online Business: 4 Things To Consider First

      Should You Start An Online Business: 4 Things To Consider First

    • Law
      law books

      Career paths available with a law degree

      background-check

      How Do Background Check Sites Find Your Information?

      hurricane

      Weathering the Storm

      tower-bridge-london-england

      How to apply from the USA to one of the most famous law universities in the UK

    • News
      Reborn Cabinets, Anaheim, Calif.

      BBB Torch Awards Recognize Orange County Businesses

      AB3088

      California COVID-19 Rent Relief Policies Economically Unsustainable

      american-flag

      Dreamers Won Full Restoration of DACA…What Now?

      Airplane Landing

      London Heathrow one step closer to controversial third runway

    • Human Interest
      • Food
      • Art & Culture
    • Education
      Reborn Cabinets, Anaheim, Calif.

      BBB Torch Awards Recognize Orange County Businesses

      Casino winnings

      What to Do When an Online Casino Refuses to Pay Out Your Winnings

      sports stadium

      With SoFi Stadium and Golden 1 Center, California Has Emerged as The Industry-Leader In Sports Facilities

      claiming gambling losses on your taxes

      Can you claim gambling losses on your taxes?

    • Health & Fitness
      The Surprising Link Between Gut Health and Mental Health - The Surprising Link between Gut Health and Mental Health

      The Surprising Link between Gut Health and Mental Health

      Eesha Patel feature

      Multi-Dimensional Reality

      166521182

      One Hour Each Morning for the Remaining 23

      87 CBN vs CBD How Are the Benefits Different - Commonly Asked Questions About CBD Oil in the USA

      Commonly Asked Questions About CBD Oil in the USA

    California Business Journal
    • Front Page
    • Business
      • Insurance
      • Real Estate
    • Finance
      claiming gambling losses on your taxes

      Can you claim gambling losses on your taxes?

      Nicholas Yrizarry

      In Perfect Alignment

      Invest-in-Your-Childs-Future

      Start Investing Now For Your Child’s Future

      IMG 8554 - From a “Wish List” to a “Reality List”

      From a “Wish List” to a “Reality List”

    • People
    • Featured
      Silicon V Real Instituto

      The Entrepreneurs ‘Angell’

      West Gary, MinTech’s Chief Technical Officer2

      Dust Buster

      Flags-of-the-world

      The Impact of Covid: Racing to Buy Second Citizenships

      Photonic Chip

      The First Photonic Chip Has Arrived. What Does That Mean For Augmented Reality?

      Supreme Court Sports Betting

      California’s Bid for 2022 Sports Betting Legislation

    • Technology
      West Gary, MinTech’s Chief Technical Officer2

      Dust Buster

      Plaxonic Technologies Innovate

      Plaxonic Technologies: Leading Innovation

      tech devises of the future - Latest Devices to Make Our Lives Easier

      Latest Devices to Make Our Lives Easier

      hands of business people typing on a keyboard - Should You Start An Online Business: 4 Things To Consider First

      Should You Start An Online Business: 4 Things To Consider First

    • Law
      law books

      Career paths available with a law degree

      background-check

      How Do Background Check Sites Find Your Information?

      hurricane

      Weathering the Storm

      tower-bridge-london-england

      How to apply from the USA to one of the most famous law universities in the UK

    • News
      Reborn Cabinets, Anaheim, Calif.

      BBB Torch Awards Recognize Orange County Businesses

      AB3088

      California COVID-19 Rent Relief Policies Economically Unsustainable

      american-flag

      Dreamers Won Full Restoration of DACA…What Now?

      Airplane Landing

      London Heathrow one step closer to controversial third runway

    • Human Interest
      • Food
      • Art & Culture
    • Education
      Reborn Cabinets, Anaheim, Calif.

      BBB Torch Awards Recognize Orange County Businesses

      Casino winnings

      What to Do When an Online Casino Refuses to Pay Out Your Winnings

      sports stadium

      With SoFi Stadium and Golden 1 Center, California Has Emerged as The Industry-Leader In Sports Facilities

      claiming gambling losses on your taxes

      Can you claim gambling losses on your taxes?

    • Health & Fitness
      The Surprising Link Between Gut Health and Mental Health - The Surprising Link between Gut Health and Mental Health

      The Surprising Link between Gut Health and Mental Health

      Eesha Patel feature

      Multi-Dimensional Reality

      166521182

      One Hour Each Morning for the Remaining 23

      87 CBN vs CBD How Are the Benefits Different - Commonly Asked Questions About CBD Oil in the USA

      Commonly Asked Questions About CBD Oil in the USA

    Search
      Generic filters
      California Business Journal

      In Perfect Alignment

      Behavioral Financial Advisor Nicholas Yrizarry spearheads a lifestyle-based financial services firm which aims to create financial portfolios that mirror clients’ value-based life goals, delivering simplicity and preparedness in a world where security seems just out of reach.

      by Chris Casacchia, Senior Writer, California Business Journal
      A A
      Nicholas Yrizarry
      Share on FacebookShare on Twitter

      Don’t call Nicholas Yrizarry a value investor searching for high-dividend or low-priced bargain stocks. This behavioral financial advisor’s primary objectives are to ensure his clients’ investments align with their heartfelt values and work to serve them, not the other way around.

      Consider it a matter of semantics in the wonky world of investing terminology.

      “Value investing is about looking within yourself to understand why this money is important to you,” says Yrizarry, chief executive and founder of Align Wealth Advisors in Laguna Hills, California.

      Behavioral finance, the formal term, stems from research done by renowned psychologist and Nobel Prize Winner in Economic Sciences, Daniel Kahneman. Dr. Kahneman postulates that the brain is comprised of different thinking patterns, one intuitive and one rational; and financial decision-making should be based on rational thinking versus emotional. This is the basis for his application of psychology and neuroscience to financial services and is best explained in his Financial Survivor Handbook: The 4 Steps to Financial Survival, available at BarnesandNoble.com.

      Daniel Kahneman
      Nobel Prize Winner in Economic Sciences, Daniel Kahneman

      “Most people need help in identifying what their true values are and how to apply those values to their financial decision-making process,” Yrizarry says.

      Harvard researchers brought this idea to the forefront through an index card exercise a few decades ago, assigning various values to them: love, adventure, security and freedom.

      When he first meets clients, Yrizarry has them choose their top five values from a deck of 52 cards, each with a different value set. The exercise is an example of neuro-linguistic programming, a psychological approach that analyzes strategies used by successful individuals and applies them to reach personal goals.

      ADVERTISEMENT

      “The propensity to live one’s values is enhanced once you declare them,” Yrizarry says.

      So, what does this have to do with money?

      Everything, he contends.

      Related

      Reborn Cabinets, Anaheim, Calif.

      BBB Torch Awards Recognize Orange County Businesses

      January 19, 2021
      sports stadium

      With SoFi Stadium and Golden 1 Center, California Has Emerged as The Industry-Leader In Sports Facilities

      January 19, 2021
      Load More

      “Money should serve – and reinforce – those values those values,” he says. “If you don’t know what those values are, how are you going to accomplish them?”

      Further to this approach, Yrizarry considers psychological therapeutics such as acceptance and commitment therapy, which fuse acceptance, mindfulness, commitment, and behavioral change strategies to increase “psychological flexibility,” or being in the present moment consciously, based on the situation with the ability to change or persist behavior through chosen values.

      “We’ve taken that and spun it off to help our clients rise above traditional quantitative financial planning,” Yrizarry says. “Most financial advisors focus only on quantitative planning – the money. We work with clients to hone in on the why of their planning. How is their money going to serve their lifestyle?”

      That connection led Yrizarry to rebrand his firm more than a year ago after hiring a New York consultant, who shadowed Yrizarry for 10 days, analyzing key services for clients. The word ‘align’ kept coming up in discussions, with an overarching tenet of clients’ money best serving them.

      “Most of the people we meet are not being best served by their money,” Yrizarry says. Moreover, their money causes stress and anguish, driven by the constant monitoring of the stock market in an incredibly volatile time.

      It goes even further.

      “They’re worried about running out of money,” Yrizarry says.

      A disquieting concern, considering his clientele is comprised of high-net-worth individuals, a mix of retirees and C-suite executives eagerly engaged in conserving, passing down and donating their wealth, and a younger cohort more interested in accumulating wealth.

      “For those high-net-worth folks who have accumulated it, there’s a huge shift now of starting to live off it,” Yrizarry says.

      The name change to Align Wealth Advisors ushered in a new era for the business to boost the brand and signal a larger market presence through acquisitions.

      value-investing“We’re starting to purchase outside firms,” he says. “By doing that we want to have more of a brand statement.”

      Yrizarry’s career start near Washington, D.C. introduced him to a secure and stable base of retirees from the FBI, CIA and other government types, such as economists and Ph.Ds. He started building his business at 28 years old, attracting a roster of clients with net worth in the low six figures to about $1 million, with the primary goal of passing that down to their children and other heirs.

      As a result, today, he deals with a much more complex client, with a much higher net worth like the board of director class and chief executives. All in, Align Wealth Advisors serves about 165 families nationwide. In affluent South Orange County, where his firm is based, his clientele’s net worth is in the low to mid millions, a group he has long considered underserved in the marketplace.

      “They’re small potatoes to the large firms,” says Yrizarry, an alumni of Princeton University. “They really don’t get the services they need.”

      Align Wealth Advisors is filling that gap, creating a road map for  high net-worth clients, who aim to keep their lifestyle intact, while protecting their future income and legacy.

      “Most people don’t have a fully comprehensive plan,” Yrizarry says. “We help them organize, consolidate and truly diversify a portfolio.”

      Copyright © 2020 California Business Journal. All Rights Reserved.

      This article was edited and published by Rick Weinberg, California Business Journal’s Founder and Editor-in-Chief. Click here for Rick Weinberg’s biography.

      TO READ THE MAGAZINE VERSION OF THIS ARTICLE, click here.

       

      Tags: adventureBehavioral Financial Advisor Nicholas YrizarrybrainCaliforniachildreneconomistsexecutivefinancefinancial advisorfinancial advisorsfinancial servicesfocusGroupHarvardinvestinginvestmentsinvestorLaguna HillsmarketplacemindfulnessneuroscienceNew YorkNobel PrizeOrange CountypHportfolioPrincetonpsychologyrebrandstock markettherapyvalue-based

      Get real time update about this post categories directly on your device, subscribe now.

      Unsubscribe
      ADVERTISEMENT
      Previous Post

      SpaceX Dragon 1 Launched 10 Years Ago: What’s Next in the Corporate Space Race

      Next Post

      What are Some of the Main Hazards on a Construction Site

      Chris Casacchia, Senior Writer, California Business Journal

      Chris Casacchia, Senior Writer, California Business Journal

      Chris Casacchia covers U.S. and global equity markets, finance, startups, venture capital, private equity, aerospace and SEC disclosures. A graduate of Arizona State University, Chris was Technology Editor for the Orange County Business Journal before joining California Business Journal as Senior Writer. He is also a Media Consultant.

      WHAT TO READ NEXT

      claiming gambling losses on your taxes
      Finance

      Can you claim gambling losses on your taxes?

      January 18, 2021
      dna-double-helix-chemical-formulas-computer-generated-d-rendering-medical-research-background-rotation-184787276
      Business

      Who is part scientist, inventor, anthropologist, explorer, designer, engineer, architect, reporter, journalist, museum curator, travel guide, therapist, teacher, trainer and athletic coach?

      January 14, 2021
      Lisa Thee
      Business

      Launch Pad

      January 14, 2021
      Silicon V Real Instituto
      Featured

      The Entrepreneurs ‘Angell’

      January 12, 2021
      gary vaynerchuk finger
      Business

      Gary Vaynerchuk’s Essential Tips For Business Growth

      January 8, 2021
      art and science of conversation
      People

      The Art and Science of Conversation

      January 7, 2021
      Next Post
      Hazards on a Construction Site

      What are Some of the Main Hazards on a Construction Site

      Follow Us

      ADVERTISEMENT

      Categories

      • Art & Culture
      • Business
      • Editor's Choice
      • Education
      • Featured
      • Finance
      • Food & Dining
      • Health & Fitness
      • Human Interest
      • Insurance
      • Law
      • Marketing
      • Medical
      • News
      • People
      • Popular
      • Real Estate
      • Social Media
      • Technology
      • Uncategorized

      CBJ Partner Firebrand Media

      Laguna Beach Independent Newspaper

      Laguna Beach Magazine

      Laguna Beach City Guide

      On The Menu Laguna Beach

      Newport Beach Independent Newspaper

      Newport Beach Magazine

      Newport Beach Country Club Magazine

      Coastal Real Estate Guide (NB,LB, CDM)

      Montage Magazine

      Monarch Beach Resort Magazine

      Pacific Coast Magazine (SoCal)

      Omni Escapes Hotel Magazine

      Sea Island Life Magazine

      Salamander Hotel & Resorts Magazine

      Bespoke Concierge New York

      Evans Hotels

      View our entire portfolio here

      ADVERTISEMENT
      ADVERTISEMENT
      Facebook Twitter LinkedIn LinkedIn Instagram
      C B J   LOGO  SVG-01
      • About
      • Contact
      • Testimonials
      • Demographics & Advertising Rates

      Newsletter

      Top Stories

      • Judge gavel, scales of justice and law books in court

        Lawsuit Basics: How Much Does It Cost to Sue Someone?

        0 shares
        Share 0 Tweet 0
      • REPORT: TECH GIANT CISCO ABOUT TO LAY OFF 14,000

        0 shares
        Share 0 Tweet 0
      • The DealMaker

        0 shares
        Share 0 Tweet 0

      Latest Articles

      Reborn Cabinets, Anaheim, Calif.

      BBB Torch Awards Recognize Orange County Businesses

      January 19, 2021
      Casino winnings

      What to Do When an Online Casino Refuses to Pay Out Your Winnings

      January 19, 2021
      sports stadium

      With SoFi Stadium and Golden 1 Center, California Has Emerged as The Industry-Leader In Sports Facilities

      January 19, 2021

      California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
      ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
      Site Design by 1REALTOUR

      Search
        Generic filters
        • Front Page
        • Business
          • Insurance
          • Real Estate
        • Finance
        • People
        • Featured
        • Technology
        • Law
        • News
        • Human Interest
          • Food
          • Art & Culture
        • Education
        • Health & Fitness

        California Business Journal | California Business News, California News Media, California business articles | Orange County, Los Angeles, San Diego, Inland Empire, Northern California, San Francisco | Huntington Beach CA 92649 | (949) 648-3815
        ALL RIGHTS RESERVED BY CALIFORNIA BUSINESS JOURNAL.
        Site Design by 1REALTOUR

        Do NOT follow this link or you will be banned from the site!