About the episode:
Life insurance is often misunderstood as simply a death benefit, especially for high net worth and ultra-high net worth individuals. However, this couldn’t be further from the truth! Learn the crucial role of life insurance in financial planning in this episode hosted by Kirsten Schlumbohm, Vice President, Head of Annuity Sales at C2P, with guests, Stoyan Petev, CFA, CFP®, CLU, ChFc, Senior Vice President of Advanced Markets at C2P, and Walter C. Young III, national speaker and author.
Listen as they discuss how high-net-worth clients use life insurance for estate planning, business succession, and tax-efficient wealth transfer. Plus, how permanent life insurance provides everyday clients with 10-15 distinct living benefits that can dramatically improve their retirement outcomes.
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About the Host:
Kirsten Schlumbohm is the Vice President, Head of Annuity Sales at C2P. She has over 15 years of industry experience, in which she has served as an insurance and annuity wholesaler, sales trainer and leader, and financial advisor. In addition to her life and health insurance licenses, she holds her Series 66 and a degree from Iowa State University.
Kirsten is committed to empowering people and helping them reach the retirement finish line. She believes in optimizing processes to build strategies out of silos and encourage tighter collaboration.
About the Guests:
Stoyan Petev, CFA, CFP®, CLU, ChFc, serves as the Senior Vice President of Advanced Markets at C2P, where he spearheads the in-house life insurance division and assists advisors with his knowledge in investment sales and sophisticated planning. His role is pivotal within C2P’s planning-first RIA, Prosperity Capital Advisors, serving both on the Investment Committee and Leadership Team. Stoyan’s journey before C2P spans nearly three decades, during which he has honed his skills across various capacities such as an advisor, distributor, research and investment analyst, due diligence officer, and consultant.
His commitment to education and risk management extends beyond professional advisement, as evidenced by his multi-state insurance licensure and holding Series 7, 24, 53, 63, and 65 licenses. Stoyan is an advocate for financial literacy, particularly within immigrant communities, and has shared his knowledge as an adjunct instructor at Lindenwood University.
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Walter C. Young III, MBA, RICP, serves as a Business Development Officer and Financial Representative at JL Smith. He is renowned for his speaking engagements, panel discussions, and author with notable works like The 5th Option and the trademarked parable The Desert Island Dilemma™. Walter excels in educating his audience about the retirement planning challenges faced in today’s economy and the shift away from traditional pension systems. His presentations, known for their compelling mix of narrative, humor, and insightful financial theory, captivate audiences, leading to extended discussions well beyond the scheduled events.
With a career that kicked off in the early 1990s in the financial sector, Walter took a pivotal detour to work with a consulting firm after completing his MBA. This experience illuminated the financial strategies of top-tier corporations, focusing on risk mitigation, minimizing opportunity costs, and enhancing cash flow to bolster shareholder value, insights that he brings back to the realm of personal financial planning with a unique perspective.