Redefining Financial Success Through Generosity With Michelle Clary

March 25, 2025

In this episode of You Can’t Take it With You, host Jim Dunlop sits down with Michelle Clary, Founder, CEO, and Senior Wealth Advisor at Piton Wealth, to discuss how generosity can redefine financial success. They explore why giving during your lifetime creates a greater impact, how to strategically distribute wealth, and the emotional rewards of generosity. Michelle also shares how she and her clients build a legacy of giving that extends across generations.

Michelle Clary is the Founder, CEO, and Senior Wealth Advisor at Piton Wealth, a firm dedicated to providing comprehensive financial planning services that align with clients’ life goals and holistic wellness. She holds multiple professional designations, including Certified Financial Planner (CFP®), Chartered Life Underwriter (CLU®), Chartered Financial Consultant (ChFC®), Retirement Income Certified Professional (RICP®), and Accredited Estate Planner (AEP®). Michelle’s commitment to excellence has been recognized nationally, ranking #16 in AdvisorHub‘s 2022 Advisors to Watch list, and she has received honorable mention for the 2022 Invest in Others Volunteer of the Year Award.

Here’s a glimpse of what you’ll learn:

[2:40] Michelle Clary’s background and early experiences with generosity
[4:44] The defining moment that sparked Michelle’s passion for generosity
[7:41] How one of Michelle’s clients shared his generosity journey through storytelling
[10:05] Powerful examples of giving that shaped a family’s legacy
[16:01] Introducing “Assets Under Distribution” as a key financial metric
[19:50] How generosity attracts like-minded clients and strengthens financial planning
[20:46] Michelle and her husband’s commitment to Habitat for Humanity and community events

In this episode:

Many people spend their lives growing their assets but hesitate when it comes to giving back, often unsure of the right timing or strategy. But what if generosity wasn’t just an afterthought, but a core part of financial planning?

According to Michelle Clary, a nationally recognized financial expert, true financial success isn’t measured solely by assets under management but by the impact those assets create. She highlights how shifting the focus to “assets under distribution” can reframe wealth as a tool for purpose-driven living. By strategically giving during one’s lifetime, individuals not only maximize their influence but also strengthen the causes they care about. Through her innovative approach, she challenges traditional financial mindsets and helps clients align their money with their values.

In this episode of You Can’t Take it With You, host Jim Dunlop sits down with Michelle Clary, Founder, CEO, and Senior Wealth Advisor at Piton Wealth, to discuss how generosity can redefine financial success. They explore why giving during your lifetime creates a greater impact, how to strategically distribute wealth, and the emotional rewards of generosity. Michelle also shares how she and her clients build a legacy of giving that extends across generations.

Resources mentioned in this episode:

Quotable Moments

“Most of our clients are tremendously generous… generous people find us, we don’t create it.”
“Everything you own owns a little bit of you.”
“Heavy is the head that wears too many hats.”
“We are merely stewards, extended stewards, of managing the assets that our clients are stewarding.”
“It’s the emotional experiences that inspire generosity, not just the monetary gifts.”

Action Steps

Incorporate generosity into financial planning: Aligning wealth with personal values creates a more fulfilling and purpose-driven financial strategy.
Track assets under distribution: Measuring the money given away, not just managed, shifts the focus from accumulation to meaningful impact.
Give during your lifetime: Donating while alive allows you to guide and witness the positive effects of your generosity.
Involve your family in giving decisions: Engaging the next generation in philanthropy helps build a legacy of generosity and shared values.
Support causes in your local community: Investing in nearby organizations fosters stronger connections and immediate, tangible improvements in the places you care about.

Sponsor for this episode:

This episode is brought to you by Advent Partners — a financial planning partner dedicated to helping you make informed decisions that simplify your financial journey.

Our seasoned team of professionals is committed to guiding you toward your financial goals. We offer tailored solutions based on your specific needs, from standalone financial planning to integrated financial management.

Whether you are planning for the future, investing for growth, or navigating financial hurdles, Advent Partners is here to provide insights, recommendations, and a clear financial roadmap.

To learn more about Advent Partners and how we can guide your financial success, visit AdventPartnersFP.com.

Episode Transcript

Intro: 00:00

Welcome to the You Can’t Take it With You show where we feature stories around generosity designed to inspire and encourage others to do meaningful things in their communities. Now, here’s your host, Jim Dunlop.

Jim Dunlop: 00:17

Hi. Jim Dunlop here, wealth advisor and host of this show, where I sit down with people who get it when it comes to generosity. I’m excited to have guests who can give us stories on generosity to not only inspire our listeners, but to give practical ideas on ways we can give. Today’s guest is Michelle Clary. Past guests include Jim Langley, Phil Cubeta, and Janet Riggs, among many others.

But before we get to Michelle, I want to share that this episode is brought to you by Advent Partners. Ready for good. Advent is a financial planning team dedicated to helping you make informed decisions that simplify your financial journey. At Advent Partners, we’re ready for good. Our bold, ten year vision is to help clients donate $100 million to transform lives through generosity and planning united by generosity, relationships, excellence, authenticity and fun, we empower meaningful lives and lasting community impact.

To learn more about Advent Partners and how we can guide your financial success, visit readyforgood.com. So now we welcome Michelle Clary. Michelle is the CEO and Senior Wealth Advisor of Piton Wealth, which she founded 25 years ago. The firm now manages $500 million in assets, with offices in Montana and Washington.

From starting with just an air mattress in her office to being named one of Advisor Hub’s top advisors to watch, Michelle has built a practice that goes beyond traditional financial planning, developing innovative metrics like assets under distribution to measure how clients use wealth to achieve their goals. I’m kind of excited to talk to her about this. With executive education from Stanford and Wharton and five industry designations, Michelle combines expertise with genuine warmth through her firm’s navigated journey, process and partnership with the Thrivent Advisor Network, she’s transforming financial planning to focus on client’s holistic well-being and generational impact. Outside of work, she enjoys outdoor adventures with her family and by her own admission, is a world class sleeper who uses rest to fuel her next big vision. I’ve had the privilege of knowing Michelle for nearly two decades.

Michelle, welcome. I’m so glad you’re here.

Michelle Clary: 02:21

Thank you Jim, what a fun experience it is to be able to visit with you on this platform.

Jim Dunlop: 02:26

Well, I am excited for our listeners to hear what some of what you’ve been experiencing and going through and leading. And so but before we get to that, tell me, give me a little autobiography about Michelle.

Michelle Clary: 02:40

Gosh, I’m 48 years old. I’ve been married to my husband for 26 years, and we have two boys, a almost 21 year old and an almost 19 year old. They are in college on opposite sides of the country right now, one in Boston and one in San Diego, which makes it very fun for parents traveling to see these kids. I grew up in both the state of Montana and the state of northern Idaho. And had had a pretty idyllic childhood.

You know, I had two and still have, of course, two younger brothers. Grew up in a very competitive environment from the standpoint of sporting events and competition. And also certainly into the point of the conversation that we’ll focus on today. Also an environment where there was a big focus on generosity and what that really means to the core of our family and and also to us as as people. Goodness.

I currently live in Kennewick, Washington, which is the eastern side of Washington state, where it doesn’t rain a lot. And I manage a practice, as you alluded to, of financial planning, this is how you and I met two decades ago. And I I’m just so grateful, you know, to be in the place that we’re in, both personally and professionally and, you know, just just feel abundant gratitude with with what we’re able to do every day, especially coming to work.

Jim Dunlop: 04:28

So I know that generosity is an important part of your work. And we’ll unpack that a little bit more. But before we jump into that, can you tell me your generosity origin story? What how did that spark get ignited in you?

Michelle Clary: 04:44

Yeah. So my my father, you know, was a tremendous role model with regards to expressing generosity. And, you know, probably the memory that that is that just floods. The sentiment of generosity from childhood is is one that is very simple. But it was profound, right.

And and that was we were at my grandmother’s house for Christmas and very small community, Eureka, Montana, eight miles south of the Canadian border. And on the way there, we passed a homeless person, which was not common in those days in the downtown Eureka area. And my my dad had just purchased a new winter temperature sleeping bag. And he was emphatic that we not only take a Christmas meal to this man, but also he was he was just feeling called to to give him the sleeping bag that he just bought. And so, you know, I, I think the, the different stories and different traditions and habits that were modeled and developed as a child.

Are were more formal than that. You know, we we went to a Lutheran church growing up. There was lots of opportunities for ministry and generosity through our church membership. Additionally, there was 3 to 4 families that I was kind of raised with, you know, all parents, kids of multiple different ages. And each year we would do some type of a project together.

And one year, you know, again, we built a playground at a homeless shelter in Lewiston, Idaho. So so I think, you know, the the biggest impact on my childhood with regards to the embedded value of generosity was was actively watching authentic gifts and also actively participating in the effort of creating something in the form of a gift for other people. So that that would summarize, really, you know, my generosity story.

Jim Dunlop: 07:08

Neat. So I know as a financial planner and advisor, you have incorporated a lot of making sure that these conversations are happening with your clients. And I think that’s just commendable and wonderful. There’s a we I had the privilege to see what’s called the I think it’s the journey of generosity story of one of your clients. Could you unpack that a little for our listeners and tell us a little bit about that?

And, and what was so special about that?

Michelle Clary: 07:41

Yeah. So most of our clients and I, I’m going to say just about all of our clients, Jim, are tremendously generous. And certainly it’s not something that we take credit for. I think for however that ends up happening, generous people find us, you know, we don’t create it. But as you know, there are lots of opportunities to help leverage charitable efforts from a monetary perspective and otherwise.

And it so happens that one of our clients, specifically this last year, gave some sizable donations in strategic ways to several of his favorite charities. When we learned about these plans, we we asked him if it would be something that he would feel good about and be open to if we were to host a dinner, you know, and have a platform through which he could on a stage after dinner. Through an interview format, share some of the most intimate, most important elements of his journey of generosity and what led him to the point of making these very large donations. One of the things that was so special in the way that this was presented is that it wasn’t about the zeros behind the digit of the gift. It was it was really all about the effort of just finding ways to be generous, and in many ways that it just simply brings joy, and some ways where maybe even it sparks a little bit of fear and courage as as decisions of giving are made.

But boy, did it ever come across exactly and even better than the way that we hoped it would. You know, there was so many tears and lots of fantastic stories of the ways that people hoped to really elevate what they were doing from the standpoint of family generosity efforts. And it was just a beautiful experience.

Jim Dunlop: 09:54

Do you mind? Are you in a position to share a few specific examples of the kinds of things that he did in his gift? Just just to give a little more visual to our listeners?

Michelle Clary: 10:05

No, 100%. Jim. Yeah. So and exactly the way you described it. I mean, it it yes, these were very big monetary gifts, but the stories that the family told.

So prior to the big stage interview with the dinner. We had a group of videographers and journalists that interviewed different generations of this gentleman’s family. And the crazy thing was that the stories that were most impactful were rather than the huge dollar amounts that were recently given that the stories that were most impactful to the son and grandkids of the donor were the stories of Little things, you know. It was over, over Easter. The the father would tell his kids that that tonight at dinner, I’m going to not only pay for the meal of our family, but I’d like you to look around the restaurant and identify another table that we would like to also pay for their meal.

And then I’d like you to be the one, you know, 12 year old son, to go tell the family or, you know, the the kids. However, it was decided that that you were going to that you have made the decision to have your family. Give that gift in, in some capacity so that the, the very interesting thing and it is it has since changed the perspective that I have toward some of the ways that that my husband and I are now modeling generosity for our college age kids to think about ways to, you know, yes, the money. The monetary gifts are important. They are impactful.

They’re there. They’re very critical to support the charities that we’re passionate about. But what inspires the emotion and really the the just the the boiling of of I want to do this and I need to do this and it’s so important that I do this. It’s it’s the emotional experiences. And that was the big takeaway for me personally.

Jim Dunlop: 12:16

What, what just out of my own curiosity, what were some of the organizations that he supported and why?

Michelle Clary: 12:22

Yeah, yeah. And you know, again, it that that is part of the reason why his his efforts were so inspiring. One, Jim is a community college, a local community college. In part because he is so grateful for the opportunity for people in his community to receive a solid education at a reasonable price. You know, where they could still live at home.

Maybe they can work, you know, and balance a community college education and also potentially, you know, pay for it out of pocket as they work through their education. So he he loved that and really wanted to get behind supporting that fiscally. The other was a a local Christian school. And you know there again the the element of the Christian education. He he was very, very inspired to support financially as well.

Jim Dunlop: 13:25

What a what a great example of and again, what I love about some of the stories we get on this show are people who are investing in their own community in ways that will pay dividends down the road, and I think that is that’s a tremendous thing. And if we all do a little bit more of that, you know, the ripple effect can be huge.

Michelle Clary: 13:48

Yeah. So, so huge. And, you know, the other thing that I’ve learned from this experience, Jim, is how cool it is to have such a wise, knowledgeable guide. So if you think about this donor, if he simply left this money after his passing, I believe after experiencing this, that his influence toward doing good would be like 50% of what it actually has been, because he’s given these gifts during his lifetime and been able to walk alongside the leaders and the administrators of the organizations to help them make good choices. And nine times out of ten, you know the people that are in a position to give these large gifts, they also have tremendous knowledge, tremendous wisdom, tremendous acumen to help the effectiveness of these gifts and these investments.

And you know, that that’s been another takeaway that I’ve learned in a very exciting way to just see how much magnified the impact of those gifts can be when it’s given during a lifetime.

Jim Dunlop: 14:57

Well, this is just a perfect example of why you shouldn’t take it with you or wait till you die to give these gifts, because you’re the leverage you’re creating. By giving those gifts now isn’t necessarily financial leverage. It’s an influence. Leverage. It’s a philosophical to to really make those gifts work in a very effective way, and to be a partner with those organizations that you’re supporting.

I just love that.

Michelle Clary: 15:22

Yeah, yeah, 100%.

Jim Dunlop: 15:24

So in your bio, I couldn’t help but smile because and and this is I don’t want to nerd out a little bit, but you and I are both in the same industry. And your your practice has a, a metric that it’s established that I think is really unique. I don’t know that anybody else does this. Its assets under distribution. Tell me a little bit about what that means.

And tell or explain to our listeners who probably don’t aren’t in the business that we are in and what that means and why you got there.

Michelle Clary: 16:01

Yeah, absolutely. So in our business, the most common metric to quantify where a practice is at, how a practice is growing is a metric that is indeed very important. It’s called assets under management. And so that tracks the assets that we’re managing as a firm for our clients. The the concern that I have discovered over my career is that I’ve seen so many cases, so many times where the language of an advisory firm almost starts to encroach upon this sentiment, that it’s our money and it’s not our money, you know.

It is firmly not our money. We. We are merely stewards, extended stewards of managing the assets that our clients are stewarding. It’s our clients.

Jim Dunlop: 16:58

Absolutely. Absolutely.

Michelle Clary: 16:59

Secondarily, we are stewards of that and the the way that I have started and and, you know, we’ve had some good success with seeing this do good things in the way that we think about the dollars that we’re managing is we’ve also started to track carefully and be proud of what we call our assets under distribution. And so these are the dollars that that leave our management for the right reasons. This is distributions for certainly clients to remodel a house. For clients to fund their retirement, to go on a cruise, you know, to pay the bills, all of those things so critically important. there’s also distributions of course, that come out of this.

Assets under management pool to go to charitable organizations and gifts that that our clients give to their clients and grandkids. And we track thus a metric every year called assets under distribution that keeps track of that and allows for us to celebrate it. You mentioned, Jim in my bio that our firm is managing about 500 million of assets under management right now. A very important number for us is also that last year in 2024, we distributed and celebrated about $35 million. That left our management in order to fund our clients lives, in order to fund their family gifts and in order to fund their charitable gifts.

And that is incredibly exciting. One of our client advisory team members here just very recently challenged us to of that $35 million number, we are now keeping track of how much of that is going to charitable organizations. And in part, it’s because I know that our team will be so excited to hear that number at the end of a quarter and at the end of the year. And it just allows for us to make sure that that we’re not losing sight of really, you know, at its core, what are we here to do? We’re here to steward our client’s money, and that’s so important.

Jim Dunlop: 19:20

I love it. It is a it’s such a strong measurement of impact for your team’s work. And I think a validation. And I know there are some advisors who would look at that and say, well, that’s $35 million less that I get to manage and bill against and so on. And at the end of the day, what are we here for if we’re not taking that approach?

I think it’s a huge validation for your team and the impact that you’re enabling clients to have for themselves and the things that they care deeply about.

Michelle Clary: 19:50

Yeah. Yeah. And, Jim, it’s it’s the same way of any element of our lives. You know, it’s crazy that when we promote this and celebrate it. I believe that we’re blessed, you know, by being given the privilege of having more clients come to us because of the philosophy that we have toward being sure that we remember the purpose of why we’re here.

And so it truly, you know, it isn’t the reason why we do this, but but I do believe that maintaining that posture has helped to attract other people to work with us.

Jim Dunlop: 20:26

Absolutely. So I know you you a little bit ago alluded that you and your husband, Andy, trying to model good, generous behavior for your kids. Tell me a little bit about some of the organizations that are important to you and the ways that that you like to support them and what that looks like.

Michelle Clary: 20:46

Yeah. So our our favorite organization is habitat for humanity. And my husband just finished a tenure on the board. We host the board meetings actually in our office every month. We have another team member, a Piton advisor that is is now on the board.

You know, as Andy dropped off this last year and two other Piton clients that are also on the board. The executive director is also a client. So we have a very integrated relationship with habitat. Our local affiliate of habitat, the the other thing, the other way that we’ve been able to intertwine our passion for habitat with our family and our friends and clients is for the last four years, we’ve had a benefit fund raising concert for the local habitat affiliate in our backyard. So it’s been such a fun way to really bring our friends into a an environment of community, but also to make a significant effort toward raising money for the local affiliate as it’s played out over the time that we hosted the concert in our backyard.

And I say it past tense because it grew out of our backyard. This last year is is now held at a very.

Jim Dunlop: 22:12

Good problem to have.

Michelle Clary: 22:13

There you go. There you go. Exactly what we what we hoped would happen. But during the years that it was in our backyard, our kids were still in high school. And so it also afforded us the ability to have them intimately participate in the preparation, putting the event on and the cleanup.

And, and many of their friends came and joined in the fun as well. So it was a great way to, you know, just really ensure that our neighbors, our our kids, their friends and our team and clients were all a part of it. And it was a really a passion project for everybody.

Jim Dunlop: 22:56

Yeah. That’s awesome. What a great organization. And of course, you know, our the company that we grew up in, thrive in has had a long term partnership with habitat. And so that’s incredible that you can carry that legacy forward just in your own community.

What are some other things that kind of get you and Andy excited?

Michelle Clary: 23:17

You know, the the other organizations that we that we support are mostly local. So there’s a there’s a organization that fights sex trafficking, trafficking your ministries and then a homeless shelter, Union Gospel Mission, that are also really dear to our hearts. And so there’s been a variety of efforts that we’ve under underwent to support them, you know, both with time and money and and just awareness. You know, the the other thing that I’d say is that the financial planning work that we do also allows for opportunities for strategic giving. By virtue of finding ways to leave the tax equation out of the the efforts as much as possible.

And so we have a large poster in our office which simply states that you can leave your money three places and, you know, one is not pockets in the shroud and one is not a U-Haul on the back of your, your vehicle. That’s that’s driving to the funeral home. But they are three places. It’s it’s people you love. It’s charities you’re passionate about.

And it’s the IRS. And so we talk a lot about ways that that this can be accomplished. So that more goes to the people in charities you love. And it is pretty incredible the leverage and the strategy that can be employed in order to accomplish that in a really meaningful way. And so, you know, that’s another area that, you know, we we’re able to influence and help clients.

Again, we don’t create the generosity. They tell us they want to do these things. They tell us the charities they’re passionate about. And we’re able to find ways to leverage the support that they’re able to provide.

Jim Dunlop: 25:19

That is incredible. So I love I love that it’s an important part of your own personal life, and that it’s almost infectious into your clients in such a positive way that helping them be thinking always about these things. So, Michelle, I really appreciate you taking some time to share some of the stories And I would encourage our listeners to learn more about the work that Michelle’s doing. There are many financial advisors and planners out there, and every now and then you come across somebody who’s doing something so different and, and unique, and Michelle’s one of those. So please go check out her website.

It’s pitonwealth.com. And you can find her in the area of the northeast or excuse me, the the northwest and in Montana. So my final question, Michelle, as we wrap up today, is if you had a billboard where you could reach lots of people and share some wisdom, what would you share?

Michelle Clary: 26:19

You know, so this actually was a billboard, Jim. This is how I first saw this statement, but it just resonated with me in so many ways. And the statement was heavy is the head that wears too many hats. And though it may not come across that way when I first Heard. It does relate to generosity and it relates to generosity.

In also, a comment that the donor I was talking about earlier says often, and that is that everything you own owns a little bit of you. And the way that I relate that is that it takes our aspiration away from things and away from responsibilities that are, you know, so multifaceted that we forget our true north. And I think that that statement is, is one that we can apply in many different areas of our lives. And it’s certainly affected me positively.

Jim Dunlop: 27:19

I love it. Thank you. Thank you so much, Michelle, and it’s been great talking to you.

Michelle Clary: 27:24

Thank you Jim.

Outro: 27:26

Thanks for joining us to hear stories of generosity that remind us that you can’t take it with you. Visit our site at canttakeitwithyou.com for more details on today’s episode and to subscribe to future shows.

Disclosure: 27:44

Neither today’s guests nor their company are affiliated with or endorsed by Thrivent Advisor Network. The views expressed in this presentation by the guest are their own and not necessarily those of Thrivent or its affiliates.

Advent Partners may utilize third-party websites, including social media websites, blogs, and other interactive content. We consider all interactions with clients, prospective clients, and the general public on these sites to be advertisements under the securities regulations. As such, we generally retain copies of information that we or third parties may contribute to such sites. This information is subject to review and inspection by Thrivent Advisor Network or the securities regulators. Advisory Persons of Thrivent provide advisory services under a “doing business as” name or may have their own legal business entities. However, advisory services are engaged exclusively through Thrivent Advisor Network, LLC, a registered investment advisor. Advent Partners and Thrivent Advisor Network, LLC are not affiliated companies.

Redefining Financial Success Through Generosity With Michelle Clary

Here’s a glimpse of what you’ll learn:

In this episode:

Resources mentioned in this episode:

Quotable Moments

Action Steps

Sponsor for this episode:

Episode Transcript

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