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Diversification of taxation

South Carolina Business Review
SC Public Radio
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Most investors know what diversification is: spreading your money around different asset classes, like stocks and bonds, to reduce risk. Our next guest says you should also consider diversifying your assets according to how they are taxed and that that tax mix could be the key to building and preserving your wealth going forward. Mike Switzer interviews Chris Cabri, a certified financial planner with Wells Fargo Advisors in Greenwood, SC.

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After almost 20 years, Mike Switzer retired from Wells Fargo Securities in 2001 as Senior Vice President/Investment Officer and Certified Portfolio Manager. In 1999, he and his wife, Maggie, purchased and operated for eight years the Baskin Robbins ice cream store on Forest Drive in Columbia. They grew the store from a bottom-tier operation in the Baskin Robbins franchise system to one in the top 5% nationwide within three years, tripling sales along the way. While operating the ice cream store, Mike and Maggie received patents for a portable ice cream sink and fold-down sneezeguard they invented and in 2002 started Magnolia Carts, an ice cream cart manufacturing company, which they sold in 2013.