Below are examples of some of the work we perform on behalf of clients:

Case Study: Family-Owned Business

Challenge

Our Financial Services Group was referred to a family business owner who was approaching retirement and was very uncertain about his financial future—particularly how he could transition the business to his 46-year-old son while also retiring as he had hoped to do. 

The client never had a comprehensive financial plan prepared and was uncertain about whether he was even in a position to retire, with or without a transition. Although he had worked with our firm’s Transaction Advisory Services Group to gain a clear picture of his business value, he was unclear as to how his son could fund the buyout of the business and still keep it running.

Additionally, the client had concerns about the potential death of his son during this buyout period and how this could impact the business plan. 

Solution

With the use of our proprietary comprehensive financial planning software, we were able to clearly illustrate a strong buyout strategy that would positively affect everyone involved. 

Our Financial Services Group developed a protection strategy not only for the client, but also for his wife and son. This strategy included a long-term care insurance strategy that was implemented to protect the client’s assets from being depleted. And while the client had sufficient life insurance on himself, both he and our Group felt that it was necessary to purchase life insurance on his son to protect against an unforeseen and unfortunate event. This would add extra protection for everyone involved. 

Our Financial Services Group also developed an asset allocation strategy to adequately fund the client’s retirement income needs, while at the same time, helping to mitigate risk in this overall portfolio. 

Results

Today, the client’s 401(k) profit sharing plan is being managed in the secure hands of our retirement team specialists. He now has a clear picture of his broad financial universe, peace of mind that he, his wife, his son and the business are protected, and confidence that he is able to comfortably retire.

 

Case Study: Policy Audit and Review

It is astounding – and concerning – that many people do not truly understand what kind of life insurance they have—and equally important, when it expires. As a result, while many people expect to have life insurance when they die, they end up with none.

In the Financial Services Group, we perform periodic life insurance reviews for our clients to help ensure they avoid such a scenario. This no-cost, comprehensive audit and evaluation service provides clients with valuable clarity and understanding about their existing policies.

Challenge

Our client possessed a universal life policy that she had been paying on for over 25 years. Her intentions were to ensure that her spouse had money for final expenses, as well as passing on a legacy to her children and grandchildren through a death benefit of $256,000. 

Solution

We completed a review of this policy to determine its performance. We found that the $256,000 death benefit was projected to expire once the client reached her early 80s. Given that the client was in good health and enjoyed a history of family longevity, the chances were good that this policy would expire, and the client would have nothing for her family. 

We devised a solution. We recommended that the client fill out an application and get examined by an insurance examiner. Once an offer was made by the insurance company and accepted by the client, the current cash value in her existing policy was then transferred to the new policy, placing her in a far superior position

Results

The internal value of her existing policy, augmented by a very healthy rating, boosted her death benefit from $256,000 to $326,000 provided riders that she did not have before and guaranteed her policy to last for life. The best part about this review is that she had enough money in her existing policy that was transferred over to the new one. As a result, she will never have to pay another premium on this policy. The client was extremely happy, and all it cost her was a small investment of time.

 

Case Study: Do Your Homework

Challenge

Our client asked us to research quotes for his life insurance. He had a moderate amount of health issues, so we used our comprehensive internal marketing tools to shop him with over 30 carriers.

Solution

We received multiple quotes and identified the best rate for our client. Still, the client claimed a friend of his was an insurance agent who claimed he could secure a “much better rate,” so the client chose not to move forward with our quote. 

After about a month, we received a call from our client who said that the “better” policy promised by his friend was declined—and this agent / “friend” never returned any of our client’s subsequent phone calls.

Results

We picked up where we left off. Since we had already done our homework up front, we identified the company that would look at our client more favorably and offer the best terms. As a result, we secured a great offer for him. He was so happy that he referred his daughter to us immediately for a policy of her own.

 

Case Study: Student Loan Consolidation

Challenge

Skoda Minotti’s Financial Services Group was referred to a client who had incurred almost $100,000 of student loan debt. However, the client never had a comprehensive financial student loan analysis prepared, and was uncertain about how he would go about it. In addition to the student loan debt, this client was relocating to California, which meant a higher cost of living plus moving expenses. The client was seeking a solution to provide a lower monthly payment and to save money overall.

Solution

After carefully listening to our client’s objectives during the initial input session, our Financial Services Group developed a strategy that not only benefits the client today, but also set the client up for future success. Our communication with the client is ongoing—the process is fluid to enable the client to provide plenty of input as we develop the strategy. With the use of our comprehensive financial program, we were able analyze and evaluate the current loans of the client. The results provided options to the client that assisted with making payments better, faster and smarter by creating a customized plan. By sharing a comprehensive spreadsheet that outlines all outstanding loans and payments made to date, the client gained a clear understanding of the current financial state and where we were headed. The personal plan met all of the requirements that the client had communicated during our initial meeting.

Results

From the recommendation, the client was able to lower their student loan monthly payment by $150 monthly, save more than $15,000 in interest and reduce the payment length of the loan by one year.

Because we were able to significantly reduce the stress associated with the higher payments and loan period, the client was able to focus on their business and the future. By simplifying the entire repayment process, the client gained a better understanding of the overall financial outlook and is better prepared to achieve success.
 

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Advisory Services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor. Securities offered through ProEquities, Inc., a Registered Broker/Dealer, and member FINRA and SIPC. Skoda Minotti Financial Services is Independent of ProEquities, Inc.

No part of this communication should be construed as an offer to sell any security or provide investment advice or recommendation. Securities offered through ProEquities, Inc. will fluctuate in value and are subject to investment risks including possible loss of principal.

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