What We Do
In the face of increased competition, industry challenges, and market fluctuations, Financial Advisors have identified the need to strengthen client relationships, provide broader services, and diversify product offerings. There is no better way to accomplish these goals than the addition of estate, business planning, and life insurance strategies to Advisors’ portfolios of services.
The challenge is to find partners who can leverage the Advisor’s time without diminishing their client control or quality of service. These partners must understand that the client relationship resides with the Advisor, not with the Specialist invited to help evaluate a specific need.
Advisors cannot afford to provide services based solely on expected commission revenue; they need to rely on partners who will provide professional expertise to every level of client, while providing the quality of advice the high net worth client has come to expect from professional Advisors.
Financial Advisors cannot be distracted in the delivery of a service outside of their primary expertise, and yet must provide this if they intend to achieve the desired level of client control and influence. The Advisor needs a single source for all issues related to life insurance including wealth transfer, wealth accumulation, and business continuation analyses. This single source must include professional assistance with high net worth clients, assistance with transactional insurance sales, including complete case management, underwriting, placement, and tracking of life insurance sales.
TIME works closely with clients' existing professional advisors, as well as with premiere estate planning and business attorneys to implement designs developed in these planning processes:
Meeting Wealth Transfer Needs of High Net Worth Clients
Wealthy clients face different set of issues when considering the distribution of their assets, during their lifetimes and at their deaths. They also have a consistent concern with income taxes and asset protection. TIME Specialists and Advanced Markets attorneys understand these issues and have the depth of knowledge and experience necessary to provide creative solutions for high net worth and ultra high net worth individuals.
As the concerns of these clients span a variety of disciplines, it requires a team of professionals to provide integrated solutions which consider, among other priorities:
- Income tax efficiency
- Asset protection
- Organized and controlled wealth distribution
- Multi-generational planning
- Gift and transfer tax efficiency
- Charitable interests
- Interests particular to the individual client
Solutions to these concerns may include the implementation of a variety of legal devices, qualified plan designs, asset repositioning, and life insurance. The process is only successful for the client if it is implemented. A major component of the services provided by TIME is coordinating the implementation of proposed solutions, so the Financial Advisor is able to provide the ultra high net worth client with a complete experience.
The TIME Regional Specialist addresses this potentially complex process by assisting the Financial Advisor in forming a team of professionals tailored to the client’s situation. The Financial Advisor continues as the client’s primary advisor during this process, but with the help of TIME Regional Specialist coordinates all of the professionals needed to provide comprehensive solutions.
TIME's expertise lies in cutting edge devices for transferring estates, especially those that include business or real estate holdings, appreciated equities, significant holdings in stock options, and in pre-IPO holdings. TIME provides a clear understanding of the existing estate tax code and the recent changes.
TIME also provides advice and products to meet deferred compensation needs for professionals, executives, and business owners. They have extensive knowledge of business continuation, non-qualified retirement devices, and business valuation techniques.
TIME has had broad experience in the use of charitable devices to sell appreciated equities, real estate, or business interests with both tax advantages and increased current income. TIME also works with clients in the use of charitable devices to pass on family values, create separate inheritances for grandchildren, and other innovative methods to meet client goals in combination with their overall plan.
Life Insurance Evaluation and Implementation
TIME will review clients' existing insurance portfolio and work with existing carriers to assure ownership and beneficiary designations are correct, and policies are properly funded. If additional or new insurance is appropriate after an objective planning process, TIME will search the market to find the best insurance products to fit the client's needs, and coordinate the qualification, negotiation, and implementation of those products.
TIME's founder and principal, Kate Kinkade, CLU, ChFC is a noted leader in this field, a sought after speaker and legislative bellwether, and the editor-in-chief of one of the industry's most prestigious trade publications. The team of professionals TIME brings to this process have decades of experience in analyzing and implementing planning strategies, as well as working with clients throughout their lifetimes to maintain and adjust plans as situations change.
TIME is an independent, privately held firm, which has been selected by major national financial firms to service their clients nationwide.