February 2020 Premium Finance Academy
Last week we held a Premium Finance Academy in both Dallas and Houston. Both events were attended by advisors, COI’S, several Lion Street owners and prospective owners.
Thank you to Lion Street’s Brian Bonifant, Sales VP; Walker Person, VP Business Development; Karla Kirk, Firm Selection; and Nick Bowman, Advanced Sales Case Design, for their continuous support. Thank you to our keynote speaker, Laura McGinty, Senior VP of PinnacleCare Private Health Advisory.
Pinnacle is a personalized membership based resource for coordinating all of your healthcare when faced with a serious or complex medical diagnosis. A special thank you to Symetra, especially Jeff Wright, RVP Southwest Life Sales and Brian Keefe, Internal Wholesaler, for sponsoring the two events as well as hosting cocktails and dinner.
Premium Finance Academy is Coming to the Lone Star State
Vérité is proud to announce that we will be bringing the Premium Finance Academy, sponsored by Symetra, to the Lone Star State! We will be in Dallas February 11th, and in Houston on February 13th. We are looking forward to gathering an exclusive and elite group of producers looking to further their knowledge in the world of premium finance.
We are excited to announce the addition of Matt Levesque to the Vérité Team in the role of Vice President, Premium Finance Case Design. Matt brings a unique perspective and valuable experience and knowledge of products and strategies to Vérité from his time with Symmetra, Wells Fargo and SunLife. Welcome Matt!
Learn more about Matt by clicking the link below.
Forbes Finance Council Member Spotlight: Michael Seltzer
Featured in the Executive Spotlight by Forbes Finance Council, Michael shares several thoughts behind the values and principals that have supported the foundation and pillars of success for Verite Group. He also shares several personal details that you may not be aware of (yet)! Read more about Michael's thoughts on truth and transparency, revenue and reputation, saying no to opportunities, and developing a broader business perspective in this most recent feature.
The concept of premium financed life insurance has gained a significant amount of traction over the past several years. With minimal information available to the general public, many clients express interest, and suddenly there is an influx of advisors who rise to the occasion to fulfill this service. In this Forbes article, Michael outlines several key qualities to look for when searching for the right agent, as well as what to expect from the on-going renewal process for both the loan and the policy. With multiple parties involved in this type of transaction, it is important to understand what questions to ask and how to educate yourself in order to stay informed and reduce the chance of going down a path that leads to financial harm.
Case Study: Mr. Term Conversion
Mr. Term Conversion is a 57 year old business owner who is ready to sell his business and finally ready to address his estate plan in anticipation of a large upcoming liquidity event. His net worth is predicted to grow to $85 million as a result of the sale. He has been a client of the referring life insurance agent for over 12 years and currently has only $10M of term coverage in place. Despite a need for a large block of life insurance, Mr. Term Conversion is apprehensive about paying large premiums. His attorney has suggested $20M of life coverage to be placed in an ILIT to accompany other estate planning instruments.
Out and About - PFA 10/22/2019
Verite’s Premium Finance Academy (aka PFA) was held last Tuesday 10/22/19 at the W Hotel Union Square in New York City. This event was well attended by advisor’s, several Lion Street owners and prospective owners. Thank you to Dan Murphy and Karla Kirk of Lion Street for helping make the event a success. Our Keynote Speaker, Jay Judas, CEO of Life Insurance Strategies Group, ended the day with an impactful presentation explaining various ways to utilize his new company to move cases forward as well as explaining various joint marketing strategies that are available. A special thank you to Symetra’s Steven Patrizio, Symetra RVP, Mid-Atlantic Region, Paul Pistilli, Division Sales Manager and Greg Rohtstein, Director, Competition & Product Management for sponsoring this event which ended with fabulous cocktails & dinner.
Out and About - The Rose Tattoo
Congrats to Ella Rubin, daughter of good friend and Lion Street owner Ron Rubin, for her Broadway debut in The Rose Tattoo. A great time was spent with Dan & April Murphy of Lion Street, and John & Jennifer Asfar of Penn Mutual. A special thanks to Leiko Coyle for being such a great host!
13 Strategies Financial Firms Can Implement To Keep Clients Happy
"We conduct annual reviews for all implemented transactions. We update every transaction every year. We encourage our clients to always call with any questions or concerns. We remind our clients to always take into consideration the projected long-term result of the transaction and not get hung up on short-term deviations, whether good or bad." - Michael S. Seltzer, Vérité Group, LLC via Forbes Finance Council
Out and About - Indaba 2019
Last month, Michael attended Lion Street's annual Indaba meeting. This meeting was full of fellow Lion Street owners, relevant industry updates, and value-adding presenters within a group of some of the top producers in the country. Michael is seen presenting here with good friend and associate, Richard Baer, of Legacy Capital Group California.