There’s a good probability for profit when the proactive high net-worth individual takes a serious look at the financial products available to them. However, the diverse needs of clients in this category often means that even their financial advisors need a bit of advice. This is where Jonathan Moulton of Edison Risk comes into play. This financial services arena expert has, time after time, been able to recommend financial products to advisors which are well-suited to their investor. Just what are those financial products and how does Mr. Moulton go about suggesting them to financial advisors? It’s a great question, to be sure, and understanding the answer is a great way to improve your own economic standings.
In general, a “financial product” is a term that can be applied to anything from your personal bank account to an insurance policy, investment account or a loan. While they are all vehicles for saving, investing or securing insurance or other financial policies, some are a bit more complicated than others. When high net-worth clients ask their personal financial advisors for advice on which financial product could benefit them in the long run, there’s often talk of advanced estate planning. According to Jonathan Moulton, who has been president of Edison Risk since 2012, it’s at this point that he’ll suggest a life insurance retirement plan (LIRP). This approach – which is often tailored to clients in a higher tax bracket – offers the opportunity to overfund an insurance policy. Best of all, an LIRP has no contribution limit and offers tax-free withdraws and loans.
How does Jonathan Moulton and Edison Risk know that an LIRP, among other financial products, is a safe bet? It comes from years of experience and a talented staff to back him up. As Mr. Moulton and other financial experts will tell you, an LIRP is a great retirement plan but it requires long-term planning to achieve cash-value growth instead of death benefit payouts. Backed by a team of five sales managers managing more than 400 advisor relationships, an underwriter and two case managers, financial advisors in need of advice would do well to trust Mr. Moulton and his company. “We have very experienced case managers whose sole purpose is to make advisor’s lives easier and make sure their cases get issues and placed as quickly as possible,” Jonathan Moulton recently said of Edison Risk, where the motto is “Ideas for Life.”