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, we 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.
A Quote To Remember:
“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/