New here and this question might be a tad off topic but this seems to be the most relevant forum for me. I’m currently only life and health licensed but I’m working on all of my securities so I can offer more and expand my knowledge and what I’m capable of as I grow my business. The more successful advisors at my brokerage are the ones with securities licenses and I’ve been on a number of webinars with them to learn that they are really big on annuities and other products outside of the IUL which is really championed where I work.
Getting to the point.. I was wondering if anyone on here can help me decode some of the “real life examples” I’ve heard about through webinars meant to inspire myself and other agents to get additional licenses. I haven’t been able to direct answers but maybe some of you will have an idea? I really just want to uncover how these examples are possible so I can start seeking out training on how to apply them to my business. But some of the services that we’re allegedly able to do for higher net worth individuals includes things like asset liquidation, estate planning, succession planning, buy sell agreements, retirement planning, wealth preservation, private equity, asset protection trusts, 1031 exchanges, executive bonus plans, employee retention strategies, qualified plans, non qualified plans, and other forms of advanced planning and sophisticated tax strategies.
These are the terms of the planning strategies I’m aware of being done by advisors on different “teams” than me making a lot of money helping i people in significant ways. However I don’t understand how these things can lead to the pay days they discuss. For example: I specifically remember one advisor talking about a business owner that he designed what’s called a “private pension” for. The business owner netted around $1M in profits but because of this private pension, they were able to structure a plan where he only had to pay taxes of $250,000 or so. That’s one heck of a savings for the business owner but these guys never break down the details of what they’re doing to accomplish this.
My question is this.. given the list of planning strategies mentioned, does anyone here have any experience with these terms and how certain policies can be structured to save the ultra rich so much money in taxes? I have a significantly wealthy warm market and would love to learn ways in which I can help them in such a way but unfortunately nobody cares to have a conversation with you if you’re not on their “team”. Anybody have any big time examples of ways these strategies can be used to help people in such a huge way?
Getting to the point.. I was wondering if anyone on here can help me decode some of the “real life examples” I’ve heard about through webinars meant to inspire myself and other agents to get additional licenses. I haven’t been able to direct answers but maybe some of you will have an idea? I really just want to uncover how these examples are possible so I can start seeking out training on how to apply them to my business. But some of the services that we’re allegedly able to do for higher net worth individuals includes things like asset liquidation, estate planning, succession planning, buy sell agreements, retirement planning, wealth preservation, private equity, asset protection trusts, 1031 exchanges, executive bonus plans, employee retention strategies, qualified plans, non qualified plans, and other forms of advanced planning and sophisticated tax strategies.
These are the terms of the planning strategies I’m aware of being done by advisors on different “teams” than me making a lot of money helping i people in significant ways. However I don’t understand how these things can lead to the pay days they discuss. For example: I specifically remember one advisor talking about a business owner that he designed what’s called a “private pension” for. The business owner netted around $1M in profits but because of this private pension, they were able to structure a plan where he only had to pay taxes of $250,000 or so. That’s one heck of a savings for the business owner but these guys never break down the details of what they’re doing to accomplish this.
My question is this.. given the list of planning strategies mentioned, does anyone here have any experience with these terms and how certain policies can be structured to save the ultra rich so much money in taxes? I have a significantly wealthy warm market and would love to learn ways in which I can help them in such a way but unfortunately nobody cares to have a conversation with you if you’re not on their “team”. Anybody have any big time examples of ways these strategies can be used to help people in such a huge way?