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Comprehensive financial planning should always include a review of a client’s life insurance policies. Often, however, CPAs avoid this critical element of a client’s plan.
Why? There are many reasons, but one reason is simple: Limited knowledge.
Many CPA financial planners have adopted asset management as their primary business focus, and this is their specialized area of expertise. However, like it or not, clients may have (or need) life insurance and expect advice on how to manage it or expect the CPA financial planner to identify the need and help during the purchase process. They also expect their planner to provide guidance when they no longer need the coverage or simply can’t afford it. Term insurance is generally straightforward, but permanent insurance is anything but simple.
Help has arrived!
This course will provide you with a potent tool to breakdown the critical components of any life insurance policy and allow you, regardless of your level of expertise, to understand the policy so you can better serve and bring value to your client. Imagine discovering the youngest child omitted or an ex-spouse erroneously listed as the beneficiary? You can be the hero to suggest that change! Or imagine turning an unneeded or unaffordable term policy into cash for the client! Even with limited insurance knowledge, you can use this tool to prepare the facts to work with the insurance broker and not be confused by complicated illustrations or in-force ledgers.
It’s time to help your client treat their life insurance like any other asset in their portfolio.
Learning Objectives:
- Identify how to immediately apply your 1-hour course knowledge to dazzle your clients with one of the essential reports in their plan: creating their life insurance roadmap for them
- Identify the critical elements of an existing life insurance policy and what, as the advisor, to do next
- List ways to speak with your client - or their broker - about existing or proposed policies (without holding yourself out as the expert.)
- Name the different types of life insurance and how it can be used in a comprehensive financial plan
- Recognize how to leverage junior staff to prepare reports
Susan Joy Bruno, CPA/PFS, CFP
Beacon Wealth Consulting South, LLC
Founder and Managing Partner
[email protected]
(203) 981-1133
Susan is a private wealth specialist creating customized solutions for high-net-worth individuals and families. Susan's extensive estate, insurance, and tax planning expertise is the basis for the comprehensive, multi-generational plans that she develops for her clientele and family offices.
Susan’s expertise in the life and long-term care insurance area comes from her work as a Senior Manager at Price Waterhouse and the many years that followed working with the industry’s brightest minds as an independent broker and consultant. Susan is the driving force behind the AICPA’s risk management track at Engage, the annual Advanced Personal Financial Planning conference, and currently chairs the conference subcommittee.
Susan is also actively involved in women's empowerment to help women take charge of their finances, especially before any of the 6Ds occur: Death, Divorce, Disability, Disaster, Dementia, and Debt. Be Prepared Not Scared® is her motto. She runs an annual women’s panel at Engage to help women share experiences, fears, and best practices to increase gender equality in the industry.
Susan carries numerous professional certifications and designations and is recognized among her peers for her leadership, advocacy, and philanthropy, and is a frequent speaker at industry events. Much of Susan's expertise was acquired while she was a senior tax manager at PriceWaterhouse, LLC (1987- 1992), and as a senior tax consultant with Deloitte, Haskins & Sells (1984-1987). She founded her firm in 1992.
Susan graduated magna cum laude from Fairfield University in 1984 with a BS in Accounting and lives with her husband in Naples, Florida. She enjoys photography, painting, and traveling. She is a proud member of the Daughters of the American Revolution. She is most proud of launching her two adult children!
Susan has earned the right to use the Certified Public Accountant (CPA), Personal Financial Specialist (CFS), and Certified Financial Planner (CFP) designation.
About Our Presenter
Beacon Wealth Consulting South (BWC) is a boutique firm located in Naples, Florida which specializes in creating tailored financial plans for high net worth families. Susan's expertise in estate, insurance, and tax planning is the basis for the comprehensive, multigenerational plans that she develops for her clients.
BWC is also an independent insurance brokerage firm that often partners with other planners who do not have insurance expertise. BWC customizes life insurance plans for the high net worth clients in the context of the family’s overall financial plan, often integrated with sophisticated estate and retirement planning strategies.
BWC prides itself on successful collaboration with the clients’ team of advisors and/or family office. Susan Joy Bruno, the firm’s founder, and is a nationally recognized CPA/PFS for her work in life insurance planning.
Susan recently launched “The Beacon Method” which is a consulting service to help CPAs launch a financial planning practice or simply help financial planners take their practices from good to great. Some of the topics she will cover include:
- How to leverage junior staff members to help them grow while also making your clients happier
- How and why to add women to your practice
- How to use the 6Ds fire drill to motivate your clients
- How to add more graphics for your visual learners
- How to add life insurance consulting or brokerage to your practice without compromising your objectivity or integrity
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