Michael Simms, President Veracity Advisers Ep.25
On this episode of The Palm Beach Current, Chris sits down with Michael Simms, Managing Partner of Veracity Advisors, for a wide-ranging conversation about financial planning, tax strategy, entrepreneurship, business valuations, and what it really takes to build a business that can thrive without its owner.
Michael shares the personal journey that brought him to Palm Beach County, from his military service and years in corporate healthcare to a major life transition that ultimately led him into wealth management and entrepreneurship. He explains why he and his partner built Veracity Advisors around a client-first philosophy and how their virtual family office model brings together wealth management, tax advisory, risk management, legal resources, and business strategy.
The conversation dives deep into tax planning for entrepreneurs, the importance of bringing CPAs into the conversation early, and why financial strategies should be built around a client's actual goals rather than simply selling financial products. Michael also explains how business owners can increase the value of their companies by creating recurring revenue, reducing their personal involvement in day-to-day operations, and preparing for an eventual exit long before they're ready to sell.
Beyond finance, Michael discusses the importance of finding purpose after retirement, his work supporting veterans through the Military Appreciation Initiative, his involvement with Palm Beach Gardens' Five-Star Magnet program, and why community involvement can make such a lasting difference. He also shares a deeply personal connection to Quantum House and why he believes the organization deserves more recognition throughout Palm Beach County.
From building a more valuable business to planning for taxes, retirement, legacy, and life beyond work, this episode offers practical financial insight alongside a powerful reminder that success is about more than money — it's about creating something meaningful and making an impact in the community around you.
