here’s what you’re looking for: anthony glomski

plus a few more specialists for occasional circumstances.

by anthony glomski

entrepreneurs and other successful people typically have complex and varied financial needs. the most successful among them typically work with five key professionals on a regular basis (see below). these are the experts who have the capabilities to solve the majority of the investment and advanced planning issues your clients are likely to face as they pursue the next stage of their lives:

more: why you need a team of experts | why a virtual family office? why now? | is your client’s umbrella big enough? | your client’s instincts are wrong | preserving wealth is a different mindset | three approaches to investment consulting
exclusively for pro members. log in here or 2022世界杯足球排名 today.

1. wealth manager
2. private client lawyer
3. accountant/cpa firm – ideally, a firm large enough to have multiple partners and a deep bench
4. life insurance specialist, who is knowledgeable about current estate tax mitigation strategies
5. property and casualty specialist

read more →

it doesn’t undermine your most trusted advisor status, it cements it.

by anthony glomski
your $5 million high-net-worth practice

by now, you’ve gained a solid understanding of the many financial issues and challenges that your clients face, especially entrepreneurs who may be approaching a liquidity event. what’s more, you have seen the process that goes into addressing those challenges in a manner that coordinates each client’s entire financial life – from their investments through their broader non-investment issues. it’s not just about their taxes and their company’s financial statements.

more: why a virtual family office? why now? | maximize your client’s charitable giving | estate plans: can you ask clients these eight questions? | when clients don’t listen | do you know your client’s total picture?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

as you seek to implement solutions in these areas, consider all the tasks that must be accomplished in order to maximize the probability of achieving what is most important to your clients and their families. among other responsibilities, it is essential to do the following seven steps:
read more →

it’s not all about tax implications.

by anthony glomski

a growing number of successful people like your clients want to have a major positive impact in their communities and on the world at large. facilitating and increasing the effectiveness of charitable intent is very important to a burgeoning segment of high-net-worth investors.

more: plan for your client to exit their business | is your client’s umbrella big enough? | your client’s instincts are wrong | preserving wealth is a different mindset
exclusively for pro members. log in here or 2022世界杯足球排名 today.

this area of advanced planning is all about helping your client fulfill their philanthropic goals – and maximizing the effectiveness of any charitable intent they may have. it’s very important to learn and use strategies that enable your client to give larger amounts than they would have been able to give otherwise. the actions involved in a charitable giving strategy include evaluating your client’s charitable options and determining how those options fit in with their other goals, such as retirement income needs and wealth transfer goals. various trusts, funds, foundations and gifting methods – including private foundations, donor-advised funds, charitable remainder trusts and charitable lead trusts – are routinely used to ensure one’s giving has the maximum positive impact.
read more →

it takes a few years, so get started.

by anthony glomski

research from the family firm institute shows that only three in 10 (30%) closely held family businesses survive into the second generation. just one in eight (12%) are still viable into the third generation, and a mere 3 percent operate into the fourth generation or beyond. those statistics are even more disturbing because the same research shows that the vast majority of business families are overly optimistic – they believe they will be in control of their companies five years hence.

more: is your client’s umbrella big enough? | estate plans: can you ask clients these eight questions? | when clients don’t listen | do you know your client’s total picture? | the role of the personal cfo
exclusively for pro members. log in here or 2022世界杯足球排名 today.

given this gloomy success record for family business transitions, it is no wonder that 60 to 70 percent of family wealth is lost by the second generation and that 90 percent is lost by the third generation. it does not have to be this way.
read more →

many policies are too small for true wealth protection.

by anthony glomski

no matter where your client grew up or how they accumulated their wealth, they can be a target for a host of unscrupulous people. many affluent investors, including entrepreneurs, are worried about keeping their assets safe from potential creditors, litigants, children’s spouses, ex-spouses, and disgruntled former employees and partners. they also want to protect their assets from catastrophic losses that could cripple them financially. as a cpa, you have an important role here.

more: estate plans: can you ask clients these eight questions? | enhance wealth by mitigating taxes | what clients need to know | what level of advice do entrepreneurs need? | three components of collaborative wealth management
exclusively for pro members. log in here or 2022世界杯足球排名 today.

wealth protection involves strategies you can use to ensure that your wealth is not unjustly taken from you by potential creditors, litigants, ex-spouses and children’s spouses. wealth protection is also designed to protect you against catastrophic loss. identity theft is another emerging threat to wealth protection that should be addressed carefully with your clients.
read more →

remember this before a liquidity event.

by anthony glomski

the ideal investment plan can be hugely important to helping your clients meet their goals. the right investment strategies set your clients up very well to preserve their money.

more: your client’s instincts are wrong | when clients don’t listen | do you know your client’s total picture? | the role of the personal cfo
exclusively for pro members. log in here or 2022世界杯足球排名 today.

but when it comes to your client’s long-term financial health and well-being, investments are only part of the picture. to ensure that every part of their financial life is firing on all cylinders and working in a smooth, coordinated manner, you need to go beyond just the world of stocks, bonds and even complex alternative investments.
read more →