What does it really take to build wealth? Could the answer lie beyond traditional investments and into the realm of alternative assets and creative financial structuring? This episode of The Angel Next Door Podcast digs into that very question, challenging listeners to rethink what successful investing looks like in today’s ever-changing economic landscape. Guest Kelly Ann Winget, founder of Alternative Wealth Partners, brings a myriad of experience from five generations in oil and gas and over 250 private placements. Her innovative approach encompasses everything from managing diversified private equity funds to investing in sustainable consumer products, ammunition manufacturing, and even a Jamaican coffee farm—all while keeping a laser focus on tax strategy and long-term financial growth. Together, Marcia Dawood and Kelly Ann Winget unpack the nuts and bolts of alternative investments, the critical importance of tax credits, and what fund managers often overlook when serving individual investors. This episode is essential for entrepreneurs and investors ready to push past conventional wisdom, gain insider insights, and discover practical ways to maximize their wealth and investment impact.
What does it really take to build wealth? Could the answer lie beyond traditional investments and into the realm of alternative assets and creative financial structuring? This episode of The Angel Next Door Podcast digs into that very question, challenging listeners to rethink what successful investing looks like in today’s ever-changing economic landscape.
Guest Kelly Ann Winget, founder of Alternative Wealth Partners, brings a myriad of experience from five generations in oil and gas and over 250 private placements. Her innovative approach encompasses everything from managing diversified private equity funds to investing in sustainable consumer products, ammunition manufacturing, and even a Jamaican coffee farm—all while keeping a laser focus on tax strategy and long-term financial growth.
Together, Marcia Dawood and Kelly Ann Winget unpack the nuts and bolts of alternative investments, the critical importance of tax credits, and what fund managers often overlook when serving individual investors. This episode is essential for entrepreneurs and investors ready to push past conventional wisdom, gain insider insights, and discover practical ways to maximize their wealth and investment impact.
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https://a.co/d/9HERqTl - Kelly's Book - Pitch the Bitch: Grab your Financial Future by the Bags
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Marcia Dawood [00:00:02 - 00:00:05]:
Kelly, welcome to the Angel Next Door podcast.
Kelly Ann Winget [00:00:05 - 00:00:07]:
Thank you for having me. I'm so excited.
Marcia Dawood [00:00:07 - 00:00:21]:
I am so excited to talk to you about everything, alternative assets, taxes, how you're structuring your funds, what the hell is going to happen in the future, all of that good stuff. Start off. Tell us a little bit about your background and what you've been up to.
Kelly Ann Winget [00:00:22 - 00:00:56]:
I'm sure you've heard this spiel a couple times in your life, but I'm Kelly Wingett. I'm the founder of Alternative Wealth Partners. We're a private equity company based out of Dallas, Texas. And we design, build and manage diversified private equity funds, which is a lot of words that probably people have maybe heard for the first time just now, but I'm five generations in oil and gas. That's how I got here. And I've been in the alternative investment space for about 15 years. I've worked on over 250 different private placements. And before I decided to leave family office and start doing my own thing.
Marcia Dawood [00:00:56 - 00:01:12]:
Wow. 250 private placements. That's a lot. That's a lot of good experience. Because I know that a lot of people can say, well, a lot of these companies and the deals, they all look the same, but to me, like, every single one of them is different. It's a learning experience, right?
Kelly Ann Winget [00:01:12 - 00:01:28]:
Oh, yeah. And they're all uniquely structured, and everybody has the next best idea since sliced bread and. But you're talking about, I mean, alternatives covers a broad range of assets. And I think that people don't realize just how many opportunities are out there.
Marcia Dawood [00:01:29 - 00:01:32]:
So give us some examples so people can better understand alternatives.
Kelly Ann Winget [00:01:33 - 00:02:13]:
So at its core, alternative investments is anything outside of stocks, bonds, and cash. So anything else can be an alternative. It can range from cryptocurrency to real estate. Insurance products can be an alternative investment. Precious metals, hoarding gold in your basement art, collecting wine, whiskey, liquor, startup companies, established companies. You could buy a laundromat. There's all sorts of different things that you can invest in in the alt space. And it ranges from owning a piece of something or lending money to something.
Kelly Ann Winget [00:02:14 - 00:02:20]:
Are the two core ways you invest in alternatives by either owning it or lending on it.
Marcia Dawood [00:02:21 - 00:02:25]:
Interesting. So how is Alternative Wealth Partners structured?
Kelly Ann Winget [00:02:26 - 00:03:17]:
We are a private company that builds funds. So we manage diversified private equity funds. And private equity encompasses everything from, like, venture capital investments to buyout investments, where we go in and take over a company. We have small investments, we have large investments, but we also do private credit, which is lending. So we do creatively Structured debt deals where we'll find a company we really believe in. They might not be offering equity, but there's an opportunity to lend and maybe have some preferred terms on that capital. So maybe it's a royalty agreement, maybe it's a debt and equity blend investment, but we structure that all inside of one cohesive fund. So a retail investor or a single family office can make a single investment and get exposure to the entire portfolio that we're invested in.
Marcia Dawood [00:03:18 - 00:03:22]:
Wow. So can you tell us a little bit about some of the companies you've invested in?
Kelly Ann Winget [00:03:23 - 00:03:49]:
We have a lot of different types of companies. And while our focus is now on. We're on. Our third and fourth funds are really in the infrastructure space. In our earlier funds, we range from working interest in oil and gas, meaning we're going out and drilling oil and gas wells and receiving the revenue from hydrocarbons and then to a gender neutral body inclusive clothing company, Dapper Boy, They've.
Marcia Dawood [00:03:49 - 00:03:50]:
Been on the podcast.
Kelly Ann Winget [00:03:50 - 00:04:18]:
Yes. And we actually have three Shark Tank companies in our portfolio. Our recent investment, it's a company called the Repaint Tray, and it's for sustainable painting. Really. So we throw away incorrectly. A lot of paint usually goes down your drain, right? Ruins your plumbing, goes into the sewage. It's terrible. It's a silicone paint tray, comes with a very sturdy steel paint tray that it sits inside of.
Kelly Ann Winget [00:04:18 - 00:05:08]:
But the silicone paint tray actually allows you to reuse your paint over and over again because it keeps it fresh for up to 21 days. So if you're having like a small painting home DIY project, you're painting a wall, you're painting a door, doing touch ups around the house. You could pour your paint in the paint tray, use your paintbrush or your paint roller, do your little project. Maybe you work on one wall today, and then life happens. You have to put it away for a few days or weeks. You can just put the lid on and push out the air. It'll seal, keep the paint fresh so that you can open it back up and just go right back to painting. Once you're finished painting, you let the paint dry inside of the silicone tray and you can just peel the paint out and throw it away like you're supposed to, and it's a clean tray to use again.
Kelly Ann Winget [00:05:08 - 00:05:15]:
And so they were just on Shark Tank two weeks ago and got Barbara Cochrane and Chip and Joanna Gaines.
Marcia Dawood [00:05:16 - 00:05:17]:
Nice. Oh, that'd be perfect.
Kelly Ann Winget [00:05:18 - 00:05:32]:
Yes. Right. They went in on it together. And so they're working through the due diligence. And so That'll be an exciting thing for us to be on the cap table alongside Chip and Joanna Gain, which I'm in Texas and they're down in Waco. So that's a cool, like neighbors. Yeah. Or a cool opportunity.
Kelly Ann Winget [00:05:32 - 00:06:11]:
And then one of the founders of a company called Pluey, we didn't invest in Plui. This is a company that's in the process of being acquired, but they made a self sanitizing baby changing table. And that founder is a co founder of one of our portfolio companies and she was on Shark Tank with Plulee. So we see a lot of opportunities that also, you know, the big cool televised sharks also see a lot of opportunity and the. But it's cool to have that as part of our portfolio. They're small consumer product companies, which is a small portion of our overall portfolio. But they're cool things that our investors can like see and touch and feel like they're a part of.
Marcia Dawood [00:06:11 - 00:06:12]:
Yeah, like the coffee.
Kelly Ann Winget [00:06:12 - 00:06:51]:
Like the coffee. Yes, we do. That one is a little bit of both. As a consumer, it's not necessarily a consumer product today because we're invested in like the farm, the agricultural investment. So we own 1300 acres in the Jamaican Blue mountains, which the island got hit with a very large hurricane days ago. We're working through that. Fortunately, like where Portland sits in the island is on the other side of the mountain range on the other side of the coast. While we have like wind damage and some rainfall, our farm has been relatively unaffected by any storm that's hit in the last four years that we've been invested.
Kelly Ann Winget [00:06:51 - 00:06:56]:
We also just went through harvest season. The only thing that does for our investment is make coffee more expensive.
Marcia Dawood [00:06:57 - 00:06:58]:
Oh, no.
Kelly Ann Winget [00:06:58 - 00:07:43]:
It's a commodity. So when you have things that, you know, affect the production, it just makes the price of the good go up, unfortunately. But it is the world's most expensive coffee. It retails between 60 and 70 a pound. There's no US like product really here. Like, you can't go to the store and buy Jamaican Blue Mountain coffee. You might be able to buy a blend or something. But for us, we're exploring a retail option, which is what we get to do creatively as an owner is go in and decide, okay, we have a wholesale market today, but could we build a consumer brand around this product that we have an exclusive supply chain resource of on a commodity that everybody wishes they could have? And that's the cool part of investing in what we get to do.
Marcia Dawood [00:07:44 - 00:07:52]:
Right. So you're not just investing in a startup type thing you're actually like an owner and making decisions behind what to do.
Kelly Ann Winget [00:07:52 - 00:08:42]:
Yeah, there's a big difference between what in like the VC world, like, especially if your investors are exploring what it means to be an angel. And maybe that means maybe my first check is inside of a venture capital fund instead of an angel check. The venture capitalists are going in and they're trying to find these early stage companies. They're going to write a check. Sometimes they have some operating experience where they're going to write a check and also provide some operating support to the team. But really it's about collecting a portfolio of these little startup equity positions in hopes that in 10 years it's going to have some large multiple exit and those are going to be shares of companies. They're typically structured as C Corps. Eventually you'll get allocated your shares of those when it does ultimately become real equity for us.
Kelly Ann Winget [00:08:42 - 00:09:29]:
We are custom designing and actively managing each one of our portfolio company terms. So while our small investments in the venture space are just going to be okay, we're doing a hate safes, but we'll do a safe or a convertible note or something, but most of ours are going to be okay. How can we structure this in a holding company? How can we directly hold this asset? Can we build this company from within? Can we buy these people's assets like their equipment, their real estate, whatever, and then put our own operating team in place? So we have a blend of that venture experience. But also with traditional private equity, which is where they come in, they buy typically a majority share of a business, they put in their own executive teams and they run the business, scale the business and then sell to one of their buddy's firms.
Marcia Dawood [00:09:31 - 00:09:38]:
Interesting. So then tell us also about the ammunition company. We can't leave without talking about that.
Kelly Ann Winget [00:09:38 - 00:10:44]:
It's bullets and coffee. I've been like, my passion in general is like, paying attention to like, like current events and which we live in a time now where like the current events are like always changing and new every day and very exciting is the word I'll use. And we get to. That allows us to pivot and see trends in a different way. Because I've been like paying attention to this storyline for a very long time and what I was doing in 2014, 2015 and 2016 leading up to Trump's first like, administration, I was talking to parts of America that people didn't pay any attention to. So I was not surprised by the election in 2016 because I knew what middle America was talking about and I knew what they were struggling with and what they were thinking about as far as what they were looking to invest in and who they wanted to see in power and all these different things. And so because of that, and then what happens, like, after that, these next four years, right. I saw a lot of writing on the wall.
Kelly Ann Winget [00:10:44 - 00:11:22]:
There's going to be a lot of disruption in these global kind of government situations, not just here in the United States, but, like, everywhere. And I describe it as, like, listening to a crazy gun guy. I met a crazy gun guy. He had these crazy ideas about what he was doing with his business. And I was like, you're crazy, but you're onto something. And I understand what you think you're talking about. And personally, I got involved in this company almost eight years ago, and so I watched this family grow this business, and the smartest thing that they did was buy this property when they wanted to scale their business. After Covid happened and retail demand for guns went crazy, and they were producing more of the retail ammunition.
Kelly Ann Winget [00:11:22 - 00:11:58]:
They were like, we have to fix our own supply chain problem, which was in the United States. They could not get primers, which, in a bullet, you have four, four components. You have your projectile, you have your powder, you have your casing, and you have your primer. And your primer is what, like the hammer of your gun hits, that causes the ignition of the powder that shoots the projectile. And I know way more about bullets than I ever thought that I would as someone who literally doesn't own a gun. Okay, I own a big truck and big dogs, and I feel like that's enough. But I believe in people's hobbies. I believe in our second amendment.
Kelly Ann Winget [00:11:58 - 00:12:25]:
And so to each their own. Welcome to America. There was this huge gap on primers. It went from 2 cents a primer up to 6, 8 cents a primer, which on a cost mobile is crazy. And there was no access to it because there's only a handful of companies in the United States that make primers. Highly regulated, it's an explosive. So you have to have a lot of special licenses, you have to have a special engineering. You have to have the right property, because, again, you're blowing things up.
Kelly Ann Winget [00:12:25 - 00:12:59]:
And so they bought this property out in east Texas. Now, I always knew that this group of people weren't going to be the team that's going to take it to the finish line. And part of what we do is dealing with really messy deals that have a lot going on. And so they made a lot of terrible business decisions. They overspent on stuff they weren't ready to spend money on. So they were buying full components, equipment that they didn't necessarily. They were just spending a lot of things in the business that didn't make sense for a company that was still in growth stage. And ultimately it rolled up.
Kelly Ann Winget [00:12:59 - 00:13:39]:
I had the opportunity to come in and buy all the assets for pennies on the dollar. It did that. And so now we've spent the last 18 months turning the deal around. And that's called a turnaround deal. And there's very specialized groups of people that know how to do those turnaround deals because it's a lot. You're talking about a very high stress situation where you have a business that has a lot of assets but no operating team and needs a lot of fixing. And so that's what we're into, which is fun because we get to really change the dynamic of what this company does and why it does it. We ended up with a 200 acre property out in East Texas that today is more beneficial than I ever thought it would be because it sits inside of a foreign trade zone.
Marcia Dawood [00:13:41 - 00:13:41]:
Interesting.
Kelly Ann Winget [00:13:42 - 00:13:52]:
It was built by the US army for World War II. So this property's been around with these buildings on it since the late 30s, is still standing strong with concrete with no cracks in it.
Marcia Dawood [00:13:52 - 00:13:53]:
Wow.
Kelly Ann Winget [00:13:53 - 00:15:08]:
You know this when they were building buildings, it's not like today where you've got like toothpick houses going up. Like this has 5 foot thick concrete walls and steel like beams sitting through it. It's not going anywhere. We're able to lean on that infrastructure to build what was going to stand for another hundred years and focus on the defense stuff. But that foreign trade zone designation for this property allows us to move product in and out of the United States without paying taxes or tariffs, which when we have this big domestic onshoring push going on, it becomes an even more valuable property than I ever thought it would be. And so getting to explore what does that mean for our funds? What does that mean for our investors? Is okay, do we build a 3 PL? Do we help other companies bring their products into the United States? Do we do last mile manufacturing to make it a US made product? We have space and capabilities to bring more businesses online because we have this special designation. And so we get to be part of this economy that has been offshore for the last 40, 50 years and the investors get to be a part of that, all while not having to really do anything because they're not showing up every day to try and figure out how to turn around this property.
Marcia Dawood [00:15:09 - 00:15:15]:
That is so interesting. So then tell us how like, tax credits all fit into that, because I know you're an expert on that.
Kelly Ann Winget [00:15:15 - 00:15:33]:
Yes. So I've been doing my taxes since I was 16, and that's because both my parents were in financial services and I made too much money for them to do my taxes on their taxes. So I was in sales as a teenager. So I was making almost six figures part time in high school.
Marcia Dawood [00:15:33 - 00:15:36]:
Amazing. And why does that not surprise me?
Kelly Ann Winget [00:15:37 - 00:15:56]:
I liked money. And I. And I worked Everywhere where a 16 year old wanted free stuff from. So I worked at Palm Beach Tan. I worked at Car Wash because I had a red convertible and I wanted my car to be shiny all the time. And. And I worked at Chick Fil A. So like Chick Fil A, so all the places that I wanted free stuff as a 16 year old is where I had a job.
Kelly Ann Winget [00:15:56 - 00:16:55]:
And so I had to do my own taxes. And the one thing that I learned is that I didn't like paying taxes. So I tried to figure out, okay, what, how does this work where I don't have to pay taxes? And I got to see over my career path to like where I am today, all the different strategies that different people were using from like the business owner that I work for, they were scaling their business. Like how the owner came in and invested in the business, bought half the business, and then scaled the business and like, what they were doing tax inside of the business to offset that growth. And then from the individual side of working with individual investors on what they were investing to offset their individual tax liabilities. And then at the family office level, how many resources were dumped into tax planning. When you have a $3 billion family, there's a lot of money that's moving around that you have an entire team of people trying to figure out, like, oh my God, there's a capital gain event happening this year. What do we do? And so I get to take all of that combined experience and put it through this fund.
Kelly Ann Winget [00:16:55 - 00:17:52]:
So when we make these investments, we're really thinking about, okay, when a big policy change, like the big beautiful bill comes out, like, how does this affect our total portfolio that exists already? And how can we then start shifting our investment strategy to match the policies that exist today? And what can we take advantage of? And that ranges from accelerated depreciation in oil and gas. We have intangible drilling costs that we can distribute out to our investors, which they can reduce their tax liability in the first year of their investment. Tax credits, any of the tax credits that pass through to the investors they can take advantage of. And so we want to make sure that when we're investing in these companies or when we're like buying a piece of real estate, that we're able to pull as much of the incentive as possible and pass that through to our investors. Because again, we're actively managing that portfolio. And this is what a team of people does for the family office. We do that on scale for individuals, your everyday millionaires.
Marcia Dawood [00:17:54 - 00:18:03]:
So interesting. And then. So some of the tax credits in your one fund are part of clean energy, Is that right from 2024? Tell us more about that.
Kelly Ann Winget [00:18:03 - 00:18:47]:
Well, it's gone now where they made a beautiful bill, so they changed. So it used so part of the inflation reduction act. There were all these incentives for clean energy and it was all in the renewables, lots of solar, lots of wind. There were a lot of credits for large scale commercial projects and a lot of the initiatives were built around transferring those credits for mostly banks. Banks are coming in, they're financing these projects and they're taking the tax incentives from the project developers. Because in the first few years of your project you're not making any revenue from your utilities. So you don't need the tax credits to offset anything. So when banks or financiers come in to finance those projects, they're taking those tax credits as an incentive in addition to the interest that they're charging on the loans.
Kelly Ann Winget [00:18:47 - 00:19:56]:
That's why you never see any tax credits make it out to a person, your retail investor getting access to these large scale, heavy tax credit producing opportunities. Because of my relationship in the industry, my relationship with the founder in our portfolio, we were able to negotiate the terms where we're coming in as an equity investor co developer and we want to see this power project on our properties that we can co invest with the actual developer in order to keep the credits. Because we have income and stuff that we want to offset the credits, it might directly offset the project that we're building. But because we're in this holding company style investment, there's all this other revenue that's going on or there's all these other gains that are going on that can be offset by this tax credit on this one asset. And if it is in excess of what the partnership has, then it trickles down out to the partners. Right? So it's going to offset your partnership liabilities first and then it'll go out to whatever is left on, however you're taking the investment. So the difference between an active or a passive investor in the Partnership and what their liability exposure is to each one of those projects.
Marcia Dawood [00:19:57 - 00:19:58]:
And so how do you determine that?
Kelly Ann Winget [00:19:59 - 00:20:33]:
It's really up to the investor if they want to be an active or a passive investor. Most of our investors are just limited partners. They don't want to take any excess liability for the partnership. They want to just be invested in a portfolio. But when it comes to things like oil and gas, for example, you have unlimited liability because you're drilling a well. There's going to be ongoing costs. Typically it's offset by the revenue of the well. But if the well doesn't go well, then you might have some other additional expenses which then we would have to do cash calls out to the investors.
Kelly Ann Winget [00:20:33 - 00:21:08]:
And those are going to be the gps of the limited partnership that are participating in that extra liability. They have that unlimited liability. We could go out to them and do cash calls. If any of the assets in the portfolio require it, I structure it so that we have the resources at the fund level to take care of any type of excess cash calls. Historically, I've never done a cash call out to our investors to date. So, you know, but that could change. If there's a large infrastructure project we're doing, we might need to go in and say, hey, we need to do this. Or we would go get leverage.
Kelly Ann Winget [00:21:08 - 00:21:28]:
Right. We would go borrow the funds to finish the project, in which case myself and the other GPs would then be exposed to that liability of the loan. Right. But I've never taken debt to date on any of the funds on any of the assets. There's ways to do that for investors that want to be a more active participant in some of these larger scale infrastructure projects.
Marcia Dawood [00:21:29 - 00:21:39]:
That's so interesting. Yeah. So what do you think's going to happen in the future? You did say that the big beautiful Bell did take away some of the clean energy, but there's still a lot going on.
Kelly Ann Winget [00:21:40 - 00:22:22]:
They changed the language so like they wanted it to be more power agnostic. They didn't want to specifically call out solar's going to get this tax credit. It's more if you're doing this kind of thing then you get this tax credit. And they're trying to include mostly natural gas in that to take advantage of the different tax incentives. But like the things like the section 48 have been around for a long time. It's not like it was a brand new part of the ira, the Inflation Reduction Act. It was just they put in these extra incentives inside of that IRS code. But that IRS code's been around a long Time, just like the IBC thing's been around since the beginning of time, it just changed that.
Kelly Ann Winget [00:22:22 - 00:23:24]:
You could take both the intangible and the tangible. So like the cost to drill the well, but also the cost to like the tangible stuff that you can depreciate, you can take that all in the first year. And that was part of Trump's for like the Jobs Care Act. So like, you're just like, we're trying to follow all the big policy changes that like, what incentives are they adding, what incentives are they trying to change and then what is the timeline to take advantage of them. So the way for us to take our own project tax credits ended in 2024. But there's still some incentives that are sitting there until January 1, 2027, when the new big beautiful bill incentives kick in. And we're watching it too, because we have a qualified opportunity zone fund that we're opening up here in the next probably two weeks. And that's all defense and national security focused, but it's structured as a qualified opportunity zone, which under the Jobs Care act was part of Trump's first administration as an effort to push investment out into like, rural up and coming areas.
Kelly Ann Winget [00:23:24 - 00:24:11]:
Again, it was a Trump era initiative. So it is very like investor friendly, capital gain tax friendly in these like, almost gentrified areas. So whether or not it was really an opportunity zone is like here or there. But they've made that program, it's supposed to end in 2027, but now with the big beautiful bill, they've made that program permanent. And there's a bipartisan effort on the qualified opportunity zone stuff because it is, it benefits everyone. It requires investors to invest their capital gains, pay their capital gains taxes, but also put significant investment in these areas that like, are typically overlooked. And the one advantage that we have is that we're pretty contrarian. So while it's a real estate fund thing, it was made for real estate investors.
Kelly Ann Winget [00:24:11 - 00:25:05]:
So a lot of the opportunity zone funds out there for like multifamily or housing or storage or hotels or whatever, right? We're buying operating businesses because it includes both property and, and qualified businesses. So as long as it's like physically located in some capacity in this, like you, you can invest in this, you can invest and there's some stipulations and stuff about it. But for us, that's a massive opportunity for us. And an instrument that historically private equity is going to do somewhere between 3 and 5x returns. You add a little bit of venture in there, you might boost that up to 8 to 10 for investors that can do that in a tax free environment. Then I just took your net return from like maybe conservatively 8% in some of these funds to 15 or 20%. And that's really the name of the game. And I think people are becoming a little bit more smart about it.
Kelly Ann Winget [00:25:05 - 00:25:58]:
But for the fund managers out there, they don't think about the tax stuff at all. It's an afterthought. But you again, whenever you see any of these returns advertised by any of these funds, it's your gross return before your management fees, your carries get factored in and absolutely way before your tax hit. So I'm thinking what does the actual return look like for my investor and how can I invest to make sure that return. The invest the return that they actually feel and experience is as close to that double digit as possible. And you can only do that when you're thinking about the tax liability because that's 20 to 50 if you're in California. I'm so sorry, your tax hit there on any of your turns is 50% right. For me in Texas it's 20 right.
Kelly Ann Winget [00:25:59 - 00:26:11]:
But if I can build that in, that's a 10% a year return just in being tax advantaged. And that's what no one's talking about or thinking about. But it's all I think about and talk about.
Marcia Dawood [00:26:12 - 00:26:21]:
I love that I always learned so much from you and you're so knowledgeable in all these spaces. But also, we can't leave without talking about your book, Pitch the bitch.
Kelly Ann Winget [00:26:21 - 00:26:23]:
Yes, back there. Y.
Marcia Dawood [00:26:23 - 00:26:27]:
So tell us what made you write it and how's everybody taking it?
Kelly Ann Winget [00:26:27 - 00:26:54]:
Sure. It's called Pitch the grab your financial future by the bats and love the title. Sorry, there's some cuss words in it because I. I was having these conversations over and over again about all this de kept information that I has, I've experienced. And that was because I grew up in an affluent home. Money was not a topic that was off the table. And I worked in very male dominated spaces. So like they were completely unfiltered about everything that they said.
Kelly Ann Winget [00:26:55 - 00:27:23]:
So I heard. And the basic. The name of the book comes from the movie the Boiler Room, which is a movie that like from 2000 has Vin Diesel in it. And it's like one of the first scenes. The movie is the old stockbroker is like teaching the new stockbroker like the rules of the land, right? And his rule number one is that you don't pitch the bitch. If you get a woman on the phone, you hang up because they're going to call you if the stock's up, they're going to call you if the stock's down. It's just a waste of your time. So like you get a woman on you, just don't talk to them.
Kelly Ann Winget [00:27:23 - 00:27:49]:
And I had this said to me in real life as a real training thing in a lot of different ways. And it was like, don't talk to the wife. That person sounds black, that person is foreign. And all that was they don't have any money, so don't talk to them. And I'm like, well in my experience all the people in that had money in my life are like the women, the people of color and the people who are not from here.
Marcia Dawood [00:27:50 - 00:27:50]:
Yes.
Kelly Ann Winget [00:27:50 - 00:29:23]:
It was a confusing thing for me to see because even when I was talking to their ideal client, which is like a 65 year old white man, we get through this whole thing, we're doing all the shebang for whatever deal it is that we were working on. And it comes down to the time of like them making the decision of whether or not they're going to invest. And they're like, oh, I've got to go ask my wife. Or they're like, hey Susan, like where's the checkbook? What bank account am I writing this check out of? Then Susan gets on the phone, she's who are you? What's happening? And so I think women just need to understand that they have more say and control in their household financial decisions than they realize. And that can trickle into and should into the investment space a hundred percent. And so the book really walks through, here's all this gate kept information for, well I guess for the Cosmic Book you can access this because you can go into the Internet and you can try to search like alternative investments or like how do I invest or whatever, but you, but you're going to get very biased targeted information. And also if you don't know what the right questions are to ask, that research process is going to not be very helpful. So the book sets you up for understanding these very kind of basic concepts of like when you should change from like a digital bank to a brick and mortar, what kind of relationship should you have with the bank? Should you have a financial planner or financial advisor, like you know, a CPA over a tax strategist, like these different things that only high, ultra, high net worth family offices like have the resources to have around them all the time.
Kelly Ann Winget [00:29:23 - 00:29:37]:
And those conversations are like an active part of their daily life. For most people it's not. And so the book really walks through that. So you can start doing that education on your own in a smart, like, effective way. So good.
Marcia Dawood [00:29:37 - 00:29:46]:
Yes. It's so needed. You're absolutely right. Women should absolutely be involved in the investment decisions and not just guys on the golf course.
Kelly Ann Winget [00:29:46 - 00:29:58]:
Yeah. And it's a fun book. And it's short, it's easy to read. You can read it on a two hour plane ride or sitting outside in the nice fall weather for now. And it might take you two, two and a half hours to read. Right?
Marcia Dawood [00:29:58 - 00:30:07]:
Yeah. It's awesome. Well, Kelly, I could sit here and talk to you all day. Thank you so much for coming on the podcast and sharing all of your wisdom with us.
Kelly Ann Winget [00:30:07 - 00:30:09]:
Thank you for having me. I'll do it anytime.