{"id":111189,"date":"2023-05-08t12:59:19","date_gmt":"2023-05-08t16:59:19","guid":{"rendered":"\/\/www.g005e.com\/?p=111189"},"modified":"2024-08-27t17:02:28","modified_gmt":"2024-08-27t21:02:28","slug":"three-ways-the-wealthy-use-life-insurance","status":"publish","type":"post","link":"\/\/www.g005e.com\/2023\/05\/08\/three-ways-the-wealthy-use-life-insurance\/","title":{"rendered":"three ways the wealthy use life insurance"},"content":{"rendered":"

\"businesspeople<\/a>it\u2019s an important part of planning and management.<\/strong><\/p>\n

by anthony glomski and russ alan prince<\/i>
\nyour $5-million high-net-worth practice<\/i><\/a><\/p>\n

a percentage of accounting firms have chosen to be compensated by delivering financial products \u2013 specifically investment management and life insurance. these firms see wealth management as a way to deliver greater value to clients. there are also solid business reasons for the decision, such as the profitability of wealth management practices, including the potential for consistent revenues.<\/p>\n

more: <\/b>help clients avoid fallout from personal complications<\/a> | why tax planning matters so much to the wealthy<\/a>
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the best wealth management practices \u2013 anywhere \u2013 tend to be all about developing a deep understanding of their clients\u2019 goals and concerns. with these insights, wealth managers evaluate how they can use the range of financial strategies and products to help their clients\u2019 achieve their agendas.
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\nput another way \u2026 the best wealth management practices are not selling. instead, they are determining the ways they can add value and then delivering those solutions. this perspective and approach regularly results in more assets under management and writing significant life insurance policies. these results also happen with less client friction. according to jody padar of new vision cpa group, \u201ca holistic approach to financial planning is key to meeting all of your clients\u2019 needs, and that includes insurance.\u201d<\/p>\n

a considerable percentage of wealthy entrepreneurs, for instance, have much of their wealth tied up in their companies. investment management, save for retirement plans, is not an option. on the other hand, there are many ways wealth managers can be of real service to wealthy entrepreneurs by adroitly using life insurance. very often, life insurance is the surest and most cost-effective way for you to provide \u2026<\/p>\n