Advanced planning strategies are essential for high-net-worth clients. In these strategies, insurance goes beyond its traditional role. Rather than just being a safety net, insurance is a strategic tool for tax optimization, estate planning, and business continuity, enabling clients to navigate the complexities of wealth management with greater confidence and security. Partnering with experts like DPL and PH Robb allows wealthy families and their advisors to minimize taxes and maximize wealth.
In this episode, Amy is joined by Nick Robb, Managing Partner at PH Robb. Nick specializes in designing, building, and managing insurance transactions that accomplish advanced tax, business, and wealth planning. As an advisor to ultra-high-net-worth clients, Nick deeply understands insurance products, banking, tax planning, and economic analysis, which he gained through years of close collaboration with the nation's top trust and estate attorneys, tax attorneys, and private wealth bankers.
Nick talks with Amy about advanced planning strategies for high-net-worth clients and how insurance can be used in those strategies. He also shares insights on estate planning, buy-sell agreements, and the use of insurance in business planning. Their conversation highlights the need for comprehensive planning and the potential risks of not having proper strategies in place.
Key Takeaways
- [02:21] - Nick’s role at PH Robb.
- [03:00] - The ideal client for an advanced planning review.
- [03:46] - How Nick defines high-net-worth clients.
- [04:17] - How insurance can reduce taxes.
- [07:00] - When does estate planning become a need?
- [10:14] - The role of insurance in business planning.
- [12:30] - The importance of buy-sell agreements.
- [15:52] - Advanced planning strategies for financial advisors.
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