We are best defined as a "comprehensive financial planning" and/or a "wealth management" firm. By definition, comprehensive financial planning is the coordination of all one's financial affairs into a consistent, cohesive strategy to address the client's goals, as well as consolidating and coordinating other important professionals and expertise needed in the planning process. The term "wealth management" has come to emphasize an added level of proactive involvement in the comprehensive financial planning process that even further personalizes an advisor's work with a client. Since our advisors have always sought to provide this type of planning and level of involvement, we use these two terms interchangeably. To put it another way, our firm is solely concerned with assisting our clients in meeting their life goals through the proper management of all available financial resources. Thus, we do not measure our success by statistics, but instead by our clients' success in achieving their goals.

Comprehensive Financial Planning / Wealth Management is process driven, beginning and ending with the needs and goals of the client. Strategies can be developed only after appropriate data (both qualitative and quantitative) have been gathered and evaluated. Then, this information must be discussed with the client in an attempt to completely understand it within proper context. Finally, implementation, continuous monitoring and, as necessary, modification, are all-important parts of the process.

Our clients must set their goals and ultimately define the role we will play. It is our advisors' responsibility to educate them in the process and to assist them to define, quantify and prioritize their goals. It is also our responsibility to attempt to recognize "hidden goals" that may not be as tangible or as easy for clients to articulate.

Fee-based Investment Management Estate Planning Retirement Planning Tax Planning Divorce Planning Business Evaluation and Succession Planning Charitable Gift Planning Risk Management Strategies

Asset Protection Planning Fixed and Variable Annuities Life Insurance Disability Insurance for Professionals Long Term Care Insurance Health Insurance Medical Professional Liability (Malpractice) Insurance General, D&O and E&O Liability Insurance

We are proud to offer one of the first, finest and most successful asset management programs in the securities industry; LPL Financial's Strategic Asset Management (SAM) account. Through SAM, we can personalize your portfolio by choosing from among more than 4600 no-load/load-waived mutual funds and Exchange Traded Funds (ETFs).

You will also have access to individual stocks and bonds. SAM provides you with the assurance of knowing your goal and our goal is the same: the long-term growth of your assets. Instead of commissions*, you pay a low annual fee: a percentage of the value of your account. As your account grows and you are rewarded by its increased value, so too are we rewarded by earning your business long-term through our successful investment advice and value added services. As time passes and your needs or objectives change, SAM is designed to allow your assets to be easily rebalanced and properly reflect your appropriate, individually tailored investment portfolio. SAM also offers an easy way to follow your portfolio's progress. SAM uses an easy-to-understand, consolidated quarterly statement broken down by asset class. This report offers clearly presented, consolidated information about all of your SAM investments. What's more, it offers an excellent opportunity for you and us to review your investment mix and determine if it still reflects your long-term objectives. This flexibility, offered by the SAM program, is one of its most important features. It can help you meet your investment objectives today and in the future. See Investment Philosophies and Strategies for more information.

* Certain mutual funds available in the SAM program pay 12b-1 fees. Nominal transaction costs occur.





Estate planning is one of those topics that most people would rather not talk about. After all, it involves at least two subjects - death and taxes - that are not too pleasant to ponder. Yet, estate planning is actually one of the most important and fulfilling steps anyone can take on behalf of his or her family. Because many of our clients have accumulated significant wealth, and even for those in the early accumulation phases of financial planning, we include various levels of estate planning with almost all of our clients.

Estate Planning, in its simplest form, means planning for the disposition or distribution of your assets upon your death. A good estate plan has three goals:

1. To make sure your wealth reaches the individuals or organizations you select in the manner that you choose.
2. To minimize the effect of federal or state taxes on your estate.
3. To allow you to select who will handle various functions on your behalf.

Estate planning, in a broader sense, however, is an ongoing process. For a young, single person, an estate plan may consist of simply a Will. A couple just starting out might have Wills and own a modest home and bank accounts in their joint names. When children arrive, whom to name as the children's guardian and how to provide for them and your spouse in the event of unexpected death or incapacity become estate planning concerns. And, once an individual starts to realize his or her financial goals, asset preservation and how to avoid estate taxes become important factors in estate planning.

If you are like most people, you will work an entire lifetime to accumulate assets: a home, cars, savings, property, etc. The small amount of time and money required to create an estate plan will ensure that your assets are passed on to the people you want with the best possible tax consequences. The more you understand the estate planning and probate process, the better the chance that your estate plan will accomplish your desires.

Our professional advisors are well trained and educated in the areas of estate planning. We can help you design an estate plan that accomplishes all of your goals within the context of your own personal financial planning needs. We also work with other professionals, such as estate planning attorneys and CPAs, to make certain all of the legal documents necessary to complete your estate plan are in order.

Calculating your potential estate tax is complex, especially under current tax law where the tax factors are continually adjusting. However, to effectively plan your estate, you need at least a basic understanding of how the tax works. Estate taxes can take a large part of your estate. Currently, federal estate-tax rates range from 18% to 45%, but are set to go back up to 37% to 55% in 2011. We can help walk you through the process so that you fully comprehend the magnitude of estate taxes in your specific situation, and more readily recognize the value of advanced planning.

A Will is the cornerstone of estate planning, but in most cases that is only the beginning. Included among the many additional planning strategies and tools used for estate planning are: "Will substitutes" such as "living" trusts; joint ownership; community property; beneficiary designations; credit shelter or by-pass trusts; QTIP trusts; life insurance trusts; gifts; "Crummey" trusts; charitable trusts; minority ownership discounting; family limited partnerships and more. Given the extremely high tax rates, and with all of these complex tools at your discretion, it doesn't take long to discover how valuable professional advice and counsel can be in the area of estate planning.





Retirement can be a smooth transition or a jarring change. While money management is a necessity, planning for lifestyle changes and psychological adjustments is also very important. Today's retirees can expect longer, healthier, and more active retirements than any other generation in history. But along with these advantages comes the responsibility to take care of the money you've accumulated. You'll need to pay for that longer, healthier lifestyle and make your savings last much longer than your parents did.

Our job in this retirement planning arena is to help you match your needs and goals with the most suitable financial products and investments available. Given today's dramatically longer life expectancies, combined with declining Social Security payouts and escalating health care costs, your planning is more complex than generations before you. Thus, as a beginning point to retirement planning, we help you make a realistic appraisal of your financial situation and then help you to balance your immediate financial needs with long-term plans to help ensure that you don't run out of money during retirement, and can enjoy the lifestyle you want.

Once upon a time, retirees were expected to rebalance their investment portfolios in order to reduce their positions in stocks and increase their ownership of bonds. It was thought that retirees had to be more "conservative" because they needed the income from bonds and could not afford the risk of investing too heavily in often-volatile stocks. Today, bonds still play an important role in the portfolios of many retirees, but we also caution that it may be a mistake for you to be too heavily weighted in bonds. With the longer life expectancies referred to above, you may need to consider equities and other alternative investments in order to potentially generate the kind of capital growth required to sustain you through a retirement that lasts 15, 20 or even 30 years or more.

Planning for retirement is like trying to hit a moving target. The further you are from retirement, the cloudier the picture will be. It is possible, however, to develop a viable plan based on reasonable projections of what you will need to retire and on the resources you can expect to have available.

Once you've determined your retirement income needs, you must come up with ways to meet those needs. Obviously, the earlier you start planning and saving for your retirement, the easier it will be. However, it is never too late to start saving for retirement. One way to boost returns on retirement savings is to take full advantage of opportunities to defer federal income tax on your retirement investments. On any investment, your real return is the return you earn after taxes are paid and inflation is accounted for. While you can't stop inflation, you can use various planning strategies to stop annual income taxes on your retirement savings and investments until you retire and begin using your money.

One of the easiest ways to defer taxes on your retirement savings is to invest through a tax-advantaged or "qualified" retirement plan, such as an employer-sponsored 401(k) or 403(b) plan or some form of an individual retirement account (IRA). Annuities and life insurance programs can also act as very tax-efficient retirement plan supplements due to their tax-preferred features and benefits.

Just as important, are decisions involving retirement plan distributions. When you're ready to retire, or if you leave your present job to take another, you'll need to decide how to handle the retirement savings you've built over the years. Making the proper distribution decisions can be extremely complex. Laws require certain minimum distributions on some retirement plan assets, while others can be continually deferred. We help you determine which assets to draw from to comply with these complex laws as well as to maximize your retirement dollars in the most tax-efficient manner.

The age at which you choose to begin taking your Social Security check makes a big difference in the annual amount you receive. Deciding when to take your Social Security benefits is a big, and sometimes complicated, decision. We help you make an informed decision by reviewing with you several questions and scenarios. You can find out for yourself what your estimated monthly Social Security benefit would be by calling the Social Security Administration toll-free at 1.800.772.1213 to request a "Personal Earnings and Benefit Statement" based on your actual earnings history.

Once you have an estimate of your anticipated Social Security benefit, you will most likely realize, as most American's do, that your Social Security benefit will not come close to supporting the retirement you'd like to achieve. In fact, the current average monthly Social Security benefit places a retiree just above the federal "poverty level." At best, Social Security should be depended on strictly to provide a basic safety net. Many of our younger clients prefer not to include future Social Security benefits into their retirement projections at all.

Remember, you could spend a third of your life in retirement. Proper planning could make the difference between enjoying the golden times we all dream of, or facing a constant struggle just to pay the bills.





It's no stretch to suggest that most of us are unhappy when it comes to paying taxes. We know that is certainly true of our clients who are working hard to accumulate wealth. You may feel that you're paying too much or that you simply don't understand the process well enough.

Managing your taxes absolutely requires planning for the year ahead (or even two or three years), so you have plenty of time to implement tax-reducing strategies. All of our services take into consideration the tax implications surrounding the specific financial planning recommendations we make. Specific fee-based tax planning will include a thorough review of your tax situation for planning ideas to reduce and defer taxes, provide an explanation of current changes in the tax law that affect you, and review your investments from a tax perspective. This analysis should be coordinated with estimated income tax requirements by your CPA.

We believe that there are five fundamental strategies for tax reduction:

1. Timing income and expenses, so that you pay the lowest total amount over several years
2. Converting taxable income to non-taxable income
3. Deferring taxes to a subsequent year
4. Shifting taxable income to someone in a lower tax bracket
5. Deducting expenses

Managing your taxes will help you reach your financial goals. The tax savings you realize by planning ahead will work in tandem with the other financial planning steps you take to secure your future. And, as your goals change and your personal financial situation changes, we will help you adjust your tax planning, too.




Certainly, when we list the area of "divorce planning," we are in no way promoting divorce or any marriage separations. However, we fully recognize that close to 50% of marriages end up in divorce and that our clients are not immune to this trend. And, to be sure, the financial consequences of divorce can often be as devastating as the emotional aspects, thereby exacerbating the latter. Yet, while there are rarely "happy" endings in divorce, at least in the short run, our goal is to help ease the financial transition through prudent planning and hopefully contribute to an ending that is best for all involved.

Divorce is considered among the top obstacles that prevent people from achieving a better standard of living. Divorced individuals also face unique issues, especially when addressing financial needs such as retirement and education funding. Sound financial advice is paramount to keeping you on solid financial footing.

Divorce/Family Law attorneys are almost always a necessary and important part of the divorce process. However, experience has shown us that they are often surprisingly uninformed or misinformed on financial and tax matters, especially in the area of "qualified" retirement plans (such as 401(k)s). As such, this education process can often be very expensive during a divorce, and even more expensive if mistakes are made and unintentional consequences are not realized until after the divorce is final.

In addition, new divorce processes such as "collaborative divorces" are becoming very popular and have proven to be very successful in accomplishing a divorce in far less time and for far less cost by dramatically reducing the "adversarial" attorney roles. Yet many attorneys do not endorse or support them either due to lack of knowledge or because such amicable approaches can potentially and significantly reduce an attorneys overall fees.

Add to that the reality that long, drawn-out, antagonistic divorces always compensate the legal counsels. Too often, unfortunately, such bitter divorces come at the (often extreme) expense of the divorcing parties. Tens of thousands of dollars can be wasted unintentionally through a process that is renowned for escalating animosity.

Our goal in these situations is to provide sound financial advice and alternatives that are void of the emotions inherent in divorces and that will hopefully mitigate unnecessary costs of legal wrangling. So many divorces, in the end, come down to fighting over assets. As such, our role as financial advisors can be immeasurable in calculating the impact of contemplated settlements.

As mentioned above, divorce is sometimes more emotionally traumatic because it almost inevitably leads to lifestyle changes. Both parties may have to live more frugally, at least for a while. If so, you'll have to do some hard thinking about how much it will cost you to live and figure out how to pay for those expenses. While you and your lawyer may negotiate the highest possible settlement, we can help you make the most out of that settlement by building a financial plan that takes into account both long-term investment goals and short-term needs.




Once you determine to sell your business, it is important to recognize that it may be the most important financial transaction you'll ever make. Selling a business - in the right way and on terms beneficial to you - should involve the kind of planning and hard work you put into building the business. We can help you structure a succession plan that is consistent with your overall financial goals and needs and that provides both short-term and long-term security for your wishes of ownership control and financial well-being.

Valuing your business is one of the most important and difficult aspects of the entire transaction. Tax returns, audited financial statements, and other documents are essential in demonstrating business performance and helping a prospective buyer understand the company. However, valuing your business is only one of many general steps in the sale of a business, whether your selling it outright to an unrelated third party or transferring the ownership down to family members already involved in the business operations.

Other steps in this process include; developing a business plan to determine whether it's in your best interest to sell and to set out a targeted strategy with a clear end in mind; searching for potential buyers; designing a comprehensive marketing tool to give to potential buyers; evaluating offers and negotiating the sale; and structuring the actual transaction. All of these steps are critical to the successful transition and sale of your business. Without doubt, one major aspect to analyze prior to the sale of a business is the tax ramifications. The owner should consult with a specialized tax accountant during the final negotiations.

We understand that many small business owners don't want to consider the idea of selling either to a stranger or to a family member. However, because of this, they may lack a clear succession plan, so that, if they were to die suddenly, their business may be forced to be sold by family members for a fraction of its value just to pay the taxes due. Thus, we seek to help our clients by creating effective succession plans to allow a gradual and agreeable method for shifting control of the business for an appropriate value.

Key to this planning is the Buy-Sell Agreement. This is a funded agreement and binding contract that spells out exactly what is to happen if one of the business owners dies, becomes disabled, or decides to sell his or her interest in the business. It generally calls for the remaining owners to buy the departing owner's interest in the business, spells out the purchase price, and guarantees that the purchasers of the business interest will have the necessary cash to complete the purchase from the departing owner or their estate. Typically, Buy-Sell Agreements are funded with life insurance policies (and sometimes disability buy-out policies). It is important that an attorney knowledgeable in this area, as well as in tax and estate matters, draft this document.




Many people would like to make larger charitable gifts to support the organizations and institutions they care most about. But concerns about personal and family financial security may make these gifts seem impossible. Fortunately, with creative planning it is often possible to accomplish both your charitable desires and still complete your retirement goals and actually enhance the security of your loved ones.

Our role in charitable gift planning is to help you carefully design your estate plan and to help you facilitate meaningful gifts in a way that also allows you to satisfy your other important financial concerns. Obviously, coordination with qualified estate and charitable gift planning attorneys is critical to assure the outcome is as intended.

Unfortunately, charitable planning is not considered often enough as a "building block" for an effective financial and estate plan. Through the use of various charitable giving plans, you may be able to increase the income from your property and/or arrange for management of specific assets. At the same time, income, estate, and gift taxes may be minimized or avoided- all while completing the charitable gift you would like to make. Among the many plans that can be considered are; gift annuities, pooled income funds, life estate agreements, revocable trusts, charitable lead trusts, charitable remainder annuity trusts, or charitable remainder unitrusts.

While most charitable gifts are made in the form of cash, important advantages can be possible when gifts are made using non-cash property that has increased in value. Through careful planning of your charitable gifts, it can be possible to meet multiple goals. By choosing the best asset(s) to fund your gifts, their timing, and the methods used to make them, you may find you can give more while minimizing or eliminating federal estate and gift taxes, potentially reducing income taxes, and preserving or actually enhancing your own financial well-being.




Risk Management is a term that has multiple applications. We consider risk management in a very broad context when dealing with comprehensive financial planning and wealth management. For instance, it deals with understanding the nature of risk, being able to determine the possibilities and probabilities associated with a particular risk, and finally assessing the financial consequences should the risk occur. Furthermore, the "management" side requires an in-depth knowledge of how to effectively deal with the risk(s). These include: (1) transference, (2) avoidance, (3) reduction, and (4) retention.

We divide assets that fall within the study of risk management into three categories:

1. Those which produce and/or assist in the production of income
   (e.g., investments, professional equipment, etc.)
2. Those which provide for the necessary functions of living
   (e.g., shelter, clothing, transportation, etc.)
3. Those which enhance the quality of life
   (e.g., home ownership, vacation property, art, recreation equipment, etc.)

In analyzing our clients' assets, we help you determine, in the event an asset is lost or destroyed, what financial effect that loss will have on you. Those assets whose loss would cost more than you are able or willing to pay must be insured. Then, we help you determine the most efficient way to insure against such losses. Finally, we help you implement the transferring of those risks to quality insurers via the most suitable policies.

For our clients in the health care field, we also provide a variety of services and programs specifically designed to deal with the unique risks associated with professional liability, or as many refer to as medical malpractice exposure. Since this area of risk management is so vital to physicians in particular, we work with many insurance companies and risk management professionals to provide the latest and most advanced strategies to minimize the potential losses that can be caused by bad medical outcomes within our litigious society. See more specific information on professional liability / medical malpractice insurance.

For information on investment risk, see our Philosophy of Investing / Investment Theory.




Protecting one's assets from exposure to loss resulting from liability claims (medical or otherwise), bankruptcy, and/or unnecessary and avoidable taxation is an integral part of accumulating wealth and keeping it. True asset protection incorporates many aspects of a comprehensive financial plan and many of the products described on this web site. Depending on the size, complexity, and geographic location of your wealth, there are numerous strategies and vehicles available to assist you in protecting your wealth.

Perhaps here, more than any other area of planning, however, we hold firm to the old saying, "don't let the tail wag the dog." In other words, an effective asset protection strategy should coincide with logical, reasonable, and responsible financial planning. It is not uncommon to hear of outrageous dollars and energies spent to protect against totally improbable occurrences. In situations that seem to call for extremism in the protection of assets, it is probably prudent to review closely the risk exposures involved to determine if they can be minimized by transferring the risk via insurance or reducing the risk by behavior or other modification.

Some of the tools we utilize to accomplish the protection of assets (as well as to accomplish additional financial planning goals) include: wills, testamentary trusts, living trusts, international "offshore" trusts, irrevocable trusts, "Delaware" trusts, limited liability companies and partnerships, family limited partnerships, qualified retirement plans, IRAs, life insurance, and annuities. All of these, in varying degrees, can be very effective in accomplishing asset protection.

A key point to understand about asset protection is that no one instrument will do everything. Instead, a comprehensive plan based on individual circumstances and needs will produce the best results. A review of your assets and potential risk exposures with one of our professional advisors is a good starting point for this type planning. With the recent passage of the 2005 Federal Bankruptcy Reform Act, this area of planning is now more crucial than ever.




The power of tax-deferral is dramatic. All things being equal, it is almost always preferable to defer taxes as long as possible because of the drain taxes create on the total "net" return on investments. Admittedly, all things aren't always equal and thus annuities will not be appropriate in every situation. However, they do have some unique characteristics and benefits as a financial planning tool for wealth accumulation and asset protection.

Annuities let you earn interest on money, which, otherwise, would be lost to yearly income and/or capital gains taxes. The result: you build more money for retirement faster. And the more money you have, the more income it can generate during your retirement. With annuities, however, you must always weigh the impact of having those "future" dollars subject to ordinary income tax rates when withdrawn, versus capital gains rates "as you go." Also, annuities typically carry higher fees and charges than regular mutual funds. These are all important analyses that we help you consider to determine if an annuity is appropriate.

Annuities, unlike an IRA or 401(k), allow unlimited investment contributions. Within variable annuities, you have the ability to make tax-free transfers among the various investment sub-accounts. Annuities also offer some very attractive "guarantees" that can protect your assets against market downturns, while allowing you to remain fully invested in the market. All guarantees are based on the claims paying ability of the issuer. And finally, annuities not only help you control taxes today, they can help you control future taxes as well. You decide how much or how little to withdraw each year, giving you greater control over your future income-tax level. Withdrawals are not required at age 70½ like "qualified" savings vehicles, however, early withdrawals (prior to age 59½) may be subject to a 10% IRS penalty.

We have access to some of the finest annuity products on the market today. Whether you prefer variable annuities where you can access some of the best money managers in the world to invest your contributions, or fixed annuities with specific guarantees from some of the strongest insurance companies in the world, these unique financial products offer both flexibility and reliability. As with all of our recommendations, however, it is important to review your overall financial needs and goals to determine whether or not annuities fit into your plan and if so, what specific product is best suited to your needs.





What is the value of a person's life? Perhaps those who are dependent on that person for their financial well-being can best answer that question. It is also impossible to eliminate the emotional and psychological impact that a death can have to a family and/or business. Undoubtedly, life insurance is an integral piece of the financial planning and risk management process. In it's simplest form, life insurance provides for a sum of dollars to be available to one's family in the event of premature death. This lump sum is then used to cover the cost of dying, payment of debts, and to provide income to family and others who are dependent on a specific individual for their livelihood.

However, life insurance has many more uses than just to protect the financial well-being of a family in the event of a premature death. Businesses also rely on individuals for their success, wealth can be dramatically shrunk by estate taxes, and charities have benefited tremendously by gifts of life insurance. These are but a few of the multiple uses of well-designed life insurance planning.

Life insurance is a complex aspect of financial planning, yet one of the most useful, versatile and powerful products available to accomplish multiple financial planning goals. It has long been our strategy to fully understand and comprehend our clients' specific needs and goals so that the appropriate life insurance policy, beneficiary, ownership, tax and funding decisions can be made. Life insurance is not a product that can or should be examined in a vacuum. There are numerous areas that must be studied in order to choose the appropriate policy. These include tax issues, estate issues, premium requirements, guarantees, expected or anticipated returns, other assets available, flexibility, and many other interrelated areas that will all be impacted and have consequences based on the life insurance decision(s) made.

Today's market of life insurance products is almost unlimited in allowing creative solutions to a variety of circumstances, needs and goals. However, we do not believe in using life insurance products to solve financial planning goals where there is not a need for the death benefit. Using life insurance solely as an "investment vehicle" creates a strain on the ability to accumulate wealth because of the cost of the insurance component that is constantly and adversely impacting the "savings" element. Conversely, where there is a need for death benefits, the life insurance vehicle can be structured to accumulate wealth, often in a very tax efficient and advantaged manner.

We have the ability to use a large number of financially strong, very diversified insurance companies to design and provide appropriate life insurance programs. There are many products used by our advisors to meet the broad life insurance needs of our clients. These include; Term life (with guaranteed premiums of up to 30 years), traditional Whole life, Universal life, Variable Universal life (with access to some of the finest money managers in the world), Single Premium life, First to Die life policies, and Second to Die life policies. All of these type policies and more can be structured and used in numerous forms and scenarios including; personal, business Buy/Sell arrangements, estate planning, retirement planning, "split dollar" funding, Section 412(i) benefit plans, deferred compensation plans, asset protection strategies, and more.

We believe the importance of making life insurance policy decisions from a holistic perspective and as an important piece of the overall financial planning process cannot be understated. It is within this context that we utilize and implement life insurance as an important and valuable financial planning and wealth management tool. We further believe that a "needs analysis" process can accurately quantify both the financial and emotional needs for life insurance death benefits so that the amount of life insurance is sufficient, but not overused.




It has long been a belief of our firm's advisors that this should be the first and foremost concern for professionals. For most individuals, the ability to earn income is their most important and valuable asset. Without the income to fund the creation of wealth, investment returns and asset accumulation become moot issues. Thus, it is paramount to begin the financial and wealth planning process by protecting one's income stream from the unpredictable and most devastating financial occurrence that can strike; a lengthy disability from illness or injury. Furthermore, given the vital importance of the asset being protected - income stream - the form and quality of insurance protection sought is an extremely serious and critical decision.

Businesses also have a vested interest in their key employees' health and continued ability to provide services that help to create revenue. In the event of a key employee's disability, positions must be filled to replace their productivity, which is often a very difficult task. Also, the business may have legal and moral obligations to the disabled employee, creating further economical stress for the business. Disability benefits through employment, therefore, can be an important tool for financial risk management as well as a useful way for business owners to attract and maintain key employees.

Disability policies have changed significantly over the past ten years due to significant adverse losses experienced by most, if not all of the major disability insurance carriers. Despite these changes, however, there are still several quality insurance products available that can provide the needed protection for this major health and financial risk. We have relationships with the leading insurers in the disability industry to provide the finest coverages available on the market today. Not only do we implement policies from companies that are superior for handling this risk area, we understand how the policy language and provisions can affect the insured during a claim. Also, as with all other product areas, the economic decisions of how to best purchase this coverage as well as what levels of coverage are appropriate to each individual's unique circumstances and needs are thoroughly discussed and incorporated into the process.




As all of us age, it becomes more and more evident (both internally and externally) that time and the aging process is inevitable and, therefore, need to be addressed from both a financial and emotional perspective. This usually becomes a poignant issue around age 50 to 60 depending on the individual and his/her personal health and financial circumstances.

The government has made it clear that it will not be a primary resource for long term care costs. And, these costs can be significant. Estimates for the annual cost of long-term care (whether in an institution or at home) run from a low of approximately $40,000 to over $100,000 depending on geographic location. This can obviously place a large burden, both emotionally and financially on an individual and his or her family, regardless of how "wealthy" they may be. The realities of this risk are unavoidable. Thus, a conscious decision must be made of whether to transfer this risk, through purchase of insurance, or to self-fund it. Given the present pricing and insurance products available for this risk, we believe that it is economically feasible and most often preferable to use insurance. With medical technology continuing to advance at astonishing levels, the probability of living longer despite declining health and frailty is ever increasing.

As with any insurance product, it is crucial to review the policy language, definitions, coverages, and exclusions very carefully. Not all policies are the same. Likewise, not all insurance companies are the same. An insurer's financial stability should be a major factor in choosing a product since you could be relying on the insurer's promises for 30 to 40 years or longer. We have a variety of different products available to meet each individual's specific needs and priorities. Just as important, all of the insurance companies recommended and used by our planners maintain "excellent" and "superior" financial ratings.

Long Term Care insurance (LTCi), in it's latest form(s), is still a relatively new product. As such, it is still experiencing innovative changes and evolution. We have taken an active role in researching all aspects of the product and how new regulations created by the Health Insurance Portability and Accessibility Act (HIPAA) will impact our clients and LTCi policyholders.




Admittedly, health insurance is a product that we primarily provide as a service to existing clients who have found themselves losing their current coverage or who want their health insurance plan coordinated with their other financial planning objectives. Obviously, with the catastrophic financial burden a serious illness or injury could create, it is imperative that everyone be insured under some form of plan that provides coverage of at least $1 million, preferably $2 million or more. Typically, we recommend using higher deductible plans that can significantly lower premiums and can sometimes help delay and/or avoid large and frequent rate increases often experienced with low deductible plans. Another health plan regularly used is a Health Savings Account (HSA) plan that allows participants to use a high deductible plan, yet accumulate money for the self-funded portion on a tax-deductible, tax-free basis.

We have relationships with several major medical insurance companies and brokerages that can provide a wide spectrum of plan options. Although many of the plans we utilize have PPO networks, as a rule, we avoid HMOs due to their lack of flexibility and their reputation for administrative botches. Also, due to the constant changes in health insurance plans, networks and administration, our insurance support staff usually handles this area of specialization, oftentimes referring our clients to outside specialists with whom we have partnered.




In today's litigious society, physicians and health care groups must give special attention and extra efforts toward financial security and the coordination of all their asset protection strategies. Our firm is one of very few financial planning / wealth management firms that offer expertise, education and individually designed products for medical malpractice and related risk exposures. Without question, the makeup of our clients, the majority of whom are in the health care field, makes this area of service an excellent and valuable extension of traditional financial planning. Our perspective and goal of meeting individuals' needs also extends these services farther than most insurance agents, brokerages, and/or insurance companies in this area.

Liability exposures and insurance products are becoming ever more complex and cannot be adequately dealt with through a "broad brush" approach. Furthermore, the lines of distinction are not as clear between providers of health care as they were a few short years ago. Oftentimes, liability programs are designed and structured solely to present well and appeal to administrators of groups and entity boards, but fail to address many needs and concerns of the individual practitioners who must rely on the program. Thus, our unique "bottom up" approach, even within a "top down" liability structure, affords health care providers a valuable and important perspective.

To assure the highest level of quality and resources in this specialized area, we have established alliances with national brokerage firms and insurance companies to deliver flexible and creative liability insurance products and services at competitive prices. Perhaps our most unique and important alliance/ partnership in this area is with TMLT/TMIC.

Texas Medical Liability Trust (TMLT) and their subsidiary, Texas Medical Insurance Company (TMIC), are the largest insurers of physicians in the state of Texas. As one of a very few exclusive agencies appointed to write business with TMLT/TMIC, we bring our personalized service along with a combined commitment to serve physicians in Texas. No other malpractice insurance company has demonstrated a higher commitment and effort to protect Texas physicians and act as a strong advocate voice in Austin than TMLT/TMIC. Thus we're extremely proud to partner with them and enhance their insurance expertise and political clout with our personalized and unparalleled service.

A more recent important and exciting development in this area is our partnership with Advocate MD Insurance Company, a relatively new and dynamic player in the Texas medical malpractice arena. Advocate MD has brought great value and resources to Texas physicians and they have proven to be a strong alternative for our clients. They have designed the specialized "Advocate DO Program" specifically for osteopathic physicians in Texas, which is exclusively endorsed by the Texas Osteopathic Medical Association (TOMA) and the Texas Chapter of the American College of Osteopathic Family Physicians (ACOFP). Advocate MD's strength and creativity combined with our personalized service has created a unique synergy of commitment and support to our clients.

These and all of our partnerships have combined the strengths that are crucial for providers' success in today's health care environment; innovative and comprehensive insurance policies, access to worldwide insurance markets, expertise in all facets and alternatives of insurance (including self-insured trusts and captive insurance companies), expert staff in all related areas (physicians, nurses, lawyers, insurance professionals, risk managers, and claims specialists), and an extraordinary and unparalleld
commitment to service.

In today’s litigious society, even small mishaps can result in large lawsuits. That’s why General Liability insurance, along with property and worker’s compensation insurance, are essential for most companies. Liability insurance protects the assets of a business when it is sued for something it did (or didn’t do) to cause an injury or property damage.

General Liability insurance can be purchased separately or as part of a business-owner’s policy (BOP). A BOP bundles property and liability insurance into one policy; however, the liability coverage limits are generally low. Businesses that need more coverage usually purchase liability insurance as a separate policy.

Under a General Liability insurance policy, the insurer is obligated to pay the legal costs of a business in a covered liability claim or lawsuit. Covered liability claims include bodily injury, property damage, personal injury and advertising injury (damage from slander or false advertising). The insurance company also covers compensatory and general damages. Punitive damages aren’t covered under general liability insurance policies because they are considered punishment for intentional acts.

Regardless of what kind of business you own, customers can claim that something you did on their behalf was done incorrectly, and that this error cost them money or caused them harm in some way. For this risk exposure, Errors & Omissions (E&O) insurance can be extremely important.

With lawsuits escalating, as alluded to above, many business owners protect themselves with E&O insurance. This type of insurance coverage may be appropriate for anyone who gives advice, makes educated recommendations, designs solutions or represents the needs of others, such as teachers, consultants, software developers, ad copywriters, Web page designers, placement services, telecommunications carriers or inspectors. Although formalizing a contract with your clients can help limit your liability, the big expense in an E&O claim is the legal defense needed to prove liability or innocence. E&O policies are designed to cover many of these defense costs and ultimately the final judgment if the business owner does not win the case.

In addition to these two important areas of insurance protection, directors and officers find themselves operating in an extremely difficult environment today. The fundamental principles governing their conduct come under increasing judicial and regulatory scrutiny due, in large part, to the visibility of corporate scandals.

These factors have led to the need and development of more sophisticated Director’s & Officers’ (D&O) liability insurance. The costs involved in legally defending directors are substantial, as are the penalties that can be personally incurred. D&O insurance offers individual directors and officers the protection they need from personal liability and financial loss arising out of wrongful acts committed or allegedly committed in their capacity as corporate officers and/or directors by transferring this risk to the insurance market.

While a company is legally permitted to cover the personal liability costs resulting from activities performed on behalf of the company, this ability, called indemnification, may not apply to every situation. In some cases, the financial burden of the liability is the sole responsibility of the director or officer or other insured. The primary purpose of D&O insurance is to fill in these gaps, protecting the personal assets of the individual director or officer.

Most organizations, both public and private, can benefit from D&O insurance. We can help you decide whether a policy can benefit yours.