Life Insurance: - brokerage contacts with over 80 companies – “Apply once concept” – personal – key person – estate issues – charitable intent – life settlements. In affiliation with Washington Brokerage, Pacific Life and Penn Mutual.
Disability Income: – brokerage contracts with 10 carriers. Personal, Business Overhead, Buy-Sell and Business Loan Protection for bank loan protection programs. In affiliation with “Pacific Advisors”
Long Term Care: – We use a Long Term Care specialist for all cases – companies represented include Allianz, John Hancock, Prudential, Physicians Mutual and Med-America. W.L.F.B Inc. works jointly with LTC Simple
Financial Planning and Consulting Services
WLFB is a Registered Investment Adviser that offers financial planning and consulting services on a value added basis for money management clients
* Cash Flow Management and Matters of Taxation
Here the objective will be to assess how the family unit is managing its net after tax income. Budgeting and savings methodology will be analyzed. Advice will be given regarding the use of credit and proper debt loads will be recommended. This method allows the client to see where the spending level needs to be to accomplish other long-term accumulation goals. The marginal and “effective" tax brackets will be analyzed for possible tax reduction.
* Estate Planning
WLFB is not a law firm, and therefore is not allowed to give legal advice. We are, however, highly skilled in detecting problems in legal plans and in current estate planning strategies. We are able to give the client a list of referrals to “tax and estate planning” specialists within the community. A WLFB Financial Consultant will accompany the client to the meeting to assist in laying out our concerns regarding the current estate plan. Our discussions will center on tax sensitive wills, powers of attorney, trusts and entity planning.
* Risk Management
Our objective will be to quantify, as best as possible, the proper amount and type of life and disability and long-term-care insurance the client should have. Current insurance policies will be analyzed and recommendations will be made. Comments will be made regarding property and casualty insurance as well. WLFB does, in conjunction with other insurance professionals, broker insurance products. We also have a sub specialty in the formation of Captive Insurance Companies!
* Portfolio Management
The services provided do not include advice about specific investment securities. Those clients desiring advice about investment securities will be introduced to a pre-screened investment advisors with discretionary authority to manage the client’s portfolio. Should such advisor be placed to manage client assets the average fee will be 1% - WLFB will be paid 50% of the manager’s fee and this will cover all planning services and relationship management time in the future. No retainer will be charged.
* Retirement Planning
WLFB has the ability to construct models that are designed to predict the probability of the client being able to be financially independent at a certain point in time. WLFB and the client will agree upon budget expenses, estimated rates of return and inflation rates before the study is performed. WLFB will also comment on proper beneficiary designations for all retirement assets. Qualified Retirement Plan design services are also available at no cost for an initial proposal.
Retirement Feasibility Study.
The initial phase involves accumulating and organizing facts about your current and desired financial status and identifying your specific goals and objectives. This will be accomplished through a series of interviews and the data-gathering questionnaire.
The next step involves analysis of the data accumulated and after a review of the results of the preliminary analysis and cash flows with you; we will begin performing detailed analysis of your specific financial circumstances.
Following the analysis and discussion with you, we will meet to review our preliminary recommendations. As a result of these meetings, a written draft of your plan will be prepared. We then will be able to finalize your plan and to set time goals and establish responsibilities for the implementation. We will prepare, in writing specific recommendations that will seek to address your financial goals. Where appropriate, we will include financial illustrations and projections for greater understanding of potential outcomes of financial alternatives. WLFB feels that the areas with bullet points below are vital to the study.