Using Insurance to Help Wealthy Clients ‘Disinherit the IRS’
August 19, 2019 by Jane Wollman Rusoff
Matthew Celenza, an innovative advisor in the posh Golden Triangle of Beverly Hills (think Rodeo Drive), is providing his billionaire clients with bespoke life insurance solutions that function as family banks outside their estates. They allow the ultra-high net worth to spend more now, build legacy and “disinherit the IRS.”
Insurance can be “an incredible active asset class,” the $1 billion RIA tells ThinkAdvisor in an interview.
As a matter of fact, Celenza’s boutique Boulevard Insurance Strategies is driving his Boulevard Family Wealth business.
The advisor, who is making something of a name for himself as a disrupter in the private-placement life insurance arena, solidifies client relationships by stressing the importance of advance planning and the predictable return insurance can bring. That approach makes it easier to acquire assets on the wealth management side, he says.
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