Protecting the long-term financial future of business owners like you is our first priority at Carolyn Lloyd-Cohen LLC. We can help you avoid the costly pitfalls that commonly occur when your time, attention and energy are almost entirely focused on running your business. These may include:
We can help you tackle these types of issues, as we develop a comprehensive financial plan based on your unique circumstances, personal values, lifestyle choices, goals and aspirations. The planning process addresses not only your objectives but also the challenges that might get in the way of you achieving them. These may include a variety of “what-if” concerns such as unforeseen risk and exposure, legislative changes, potential lawsuits, economic changes, management inefficiencies or a major question like: “What will happen to my business if I am no longer here or want to retire?” Together, we will design a roadmap that will help you balance the demands of your business and the needs of your personal life, renew your confidence in the future, and restore your peace of mind. We can address all aspects of traditional as well as more sophisticated financial services such as:
Our services begin with an in-depth Discovery Process designed to identify and prioritize both short-term and long-term objectives, uncover obstacles that could block your progress, and pinpoint issues of greatest concern. Our professionals will meet with you and your life partner to determine if you are both on the same page. And if not, we will help you find middle ground. A series of fact-finding discussions and personal meetings will bring greater clarity to your current situation, your future aspirations and your readiness to achieve them. Through this shared exploration, we will develop a realistic framework for all subsequent planning, help you make wise choices, and ensure that all decisions and strategies are consistent with your goals and values.
Our clients’ portfolios are designed to address their specific income objectives, growth versus-
liquidity requirements, risk tolerance and tax concerns, as well as personal values
and attitudes toward wealth. Because we understand both bull and bear markets and the
opportunities they offer, we can implement strategies to help you navigate volatile
markets, while never losing sight of your overall financial objectives. Our capabilities are strengthened by an affiliation with NFP Advisor Services, LLC, a
registered broker-dealer, whose professionals provide the first layer in our multi-layer
due diligence process. NFP also offers immediate access to leading-edge investment
analysis tools and technologies, a broad range of best-in-class products, and a wide
choice of innovative investment strategies. NFP Advisor Services, LLC is a member of
the Financial Industry Regulatory Authority (FINRA), registered with the Securities and
Exchange Commission (SEC) and registered and qualified to do business in all fifty
states. Through Preferred Pensions LLC
Qualified Plan Design and Administration
Many fiduciaries are not even aware that they are a fiduciary for their qualified plan, and that can lead to some very unpleasant surprises.
At Preferred Pensions LLC, our professionals provide documented compliance with ERISA 404(a) and 404(c), assisting plan sponsors in identifying
and minimizing fiduciary liability. To establish firm guidelines for subsequent decision-making, we provide customized investment policy
statements, clearly defining investment objectives, selection criteria and procedures, and underlying philosophy. And, through our robust
401(k) fund scoring system, we also help in selecting, monitoring and evaluating the plan’s investment options.
Our disciplined process of monitoring investment performance—relative to specified guidelines—is consistently applied. It includes regularly
scheduled and documented investment policy committee meetings, and a reliable system for replacing lesser-quality funds. Funds are evaluated
on ten criteria, including investment performance in a variety of market conditions, risk-adjusted returns, reasonable and competitive fees,
and qualitative characteristics, such as acceptable manager tenure.
For owners of privately held and family businesses looking to the future, questions can be daunting: How can we preserve our business for
future generations? How do we prepare for executive retirements and transitions in leadership? Do we have enough personal assets if the
business isn’t as successful as we had hoped? If we decide to sell, who would buy? And how would that affect the people who work here?
At Carolyn Lloyd-Cohen LLC, we can provide answers. Our professionals are highly skilled in small-business consulting and in every aspect of
succession planning. We can help you prepare for a transition in senior management; guide you in developing an effective management team
and the systems required for seamless continuity; or facilitate the sale or merger of your company, if that is the ultimate decision. Because of
our proficiency in wealth management, we can also help you balance your personal assets, so that all of your financial resources are not
tied to your business.
We begin by identifying and defining what is most important to the company’s key individuals and their families, and what is critical to the future
of the business itself. On that foundation, the plan is developed. And because implementation is typically a multi-year process, you should begin
planning right now—long before you are ready to launch a new lifestyle or a well-deserved retirement, and long before unforeseen circumstances,
like a sudden illness, disability, or death, could precipitate a crisis.
The first step in estate planning is a realistic determination of your financial needs now
and during your entire lifetime. We help you clarify your financial goals and wealth
philosophy, as you develop your own personal definition of financial independence.
With that established, we can begin planning for a range of wealth-transfer solutions,
matching your assets to strategies specifically designed to minimize estate taxes.*
For those who are charitably minded, defining financial independence can help pinpoint
the appropriate time and the best strategy for asset donations so that benefits may be
optimized. That is all part of estate planning at Carolyn Lloyd-Cohen LLC, but we don’t
stop with plan development. By working closely with your estate attorney, we will not
only help ensure timely follow-through and execution, but also help safeguard the
financial independence you have so carefully defined.
Insurance coverage—such as life, disability, or long-term care—can protect your assets
from untimely liquidation and help preserve your wealth. Insurance can provide liquidity
for family income or the wherewithal to pay off estate taxes or bank loans. Adding trusts,
where appropriate, can preserve assets for generations to come.
Life insurance should be considered one of your asset classes. It is not a commodity, but
a sophisticated financial planning tool. Choices depend on a myriad of objectives and
considerations depending upon the purpose of the insurance: Are you covering a loan,
meeting a short or long-term need, replacing potential income loss, building cash for
retirement, or setting up an inheritance for future generations? Product design is also
critical, and the magnitude of options can be staggering: Do you need temporary or
permanent coverage, do you want to pay more now and less later, do you want the
underlying investments in the policy tied to the stock market, an index, or in a fixed
investment?
Dealing with issues like these is a core competency of Carolyn Lloyd-Cohen LLC. We
understand life insurance and the importance of its coordination within your estate plan.
Because we are not affiliated with any one carrier, we have the independence to conduct
impartial in-force policy review and benefit analysis to determine whether your current
coverage is consistent with your risk tolerance and objectives, which may have changed
over the years. And if not, we can help offer a solution.
As a member of PartnersFinancial, a national independent financial services organization
owned by more than 200 member firms, we have preferred access to the industry’s
leading carriers; we are positioned to achieve the most competitive underwriting results
possible; and we can provide the resources for specialized products and sophisticated
strategies.
*To ensure compliance with requirements imposed by the IRS under Circular 230, we inform you than any U.S. Federal tax advice contained in this communication, unless otherwise specifically stated, was not intended or written to be used, and cannot be used, for the purpose of (1) avoiding penalties under the Internal Revenue Code or (2) promoting, marketing, or recommending to another party any matters addressed herein. NFP Advisor Services, LLC does not provide tax or legal advice. Any decisions whether to implement these ideas should be made by the client in consultation with professional financial, tax, and legal counsel.