Tax-Efficient Strategies for High-Net-Worth Clients

The Bucket Plan® On-Demand Podcast

Advanced Tax-Efficient Planning for High-Net-Worth Clients

In This Episode

About the episode:

Looking for advanced financial planning techniques to serve your high-net-worth clients? Join host Jason L Smith, CEP®, BPC, Founder and CEO of C2P and JL Smith Holistic Wealth Management, as he welcomes and discusses impactful strategies with two new team members, Stoyan Petev, CFA, CFP®, CLU, ChFc, Senior VP of Advanced Markets at C2P, and Seth Meisler, CFA, CFP®, CPA, Lead Advisor at JL Smith.

Sharing their personal and professional experiences, they discuss how financial advisors can use life insurance and charitable giving strategies to craft tax-efficient plans for high-net-worth clients. Their discussion emphasizes the importance of tailored solutions that address specific family and financial goals and reinforce the value of holistic wealth management.

Key topics discussed:

Introduction to New Team Members: Jason L Smith introduces Stoyan Petev and Seth Meisler, discussing their roles and the expertise they bring to the Bucket Plan® process and C2P advisors.
Strategic Use of Life Insurance: The episode highlights how life insurance fits into tax-efficient strategies for high-net-worth clients, offering a layer of financial protection and potential tax benefits.
Charitable Giving Strategies: Insights on employing Charitable Remainder Trusts (CRTs) and Charitable Lead Trusts (CLTs), to benefit charitable causes while optimizing tax advantages for clients and their heirs.
Case Study by Seth Meisler: A real-life example detailing how a carefully structured life insurance policy can meet various financial objectives, including long-term care planning and estate tax mitigation.
Holistic Wealth Management Approach: The conversation underscores the importance of comprehensive planning, incorporating tax strategies, estate planning, and charitable giving to achieve client goals.

Tune in to gain a deeper understanding of integrating complex tax planning and life insurance strategies into your practice to provide more comprehensive service to your high-net-worth clients.

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 spanned nearly three decades, during which he honed his skills across various capacities such as an advisor, distributor, research and investment analyst, due diligence officer, and consultant.

This extensive background has equipped him to assist clients and financial professionals in crafting and implementing comprehensive financial plans, alongside his contributions to the development and consultancy on life insurance and annuity products for insurance companies. 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.

Seth Meisler, CFA, CFP®, CPA, currently serves as a lead advisor at JL Smith Holistic Wealth Management. He is a seasoned financial advisor and Chief Investment Officer with over 17 years of experience, known for his strategic approach to financial planning, tax planning, and investment management. His dedication to helping clients navigate their financial journeys and simplify complex financial issues has positioned him as a trusted advisor. Seth’s academic credentials include an MBA from DePaul University and a BBA from the University of Michigan, Ann Arbor.

An active participant in the financial community, Seth is affiliated with the CFA Institute of Minnesota, the Minnesota Society of CPAs, the Financial Planning Association of Minnesota, and the American Institute of Certified Public Accountants. He is also a member of Ed Slott’s Master Elite IRA Advisory Group, focusing on advanced IRA tax and distribution strategies. His thought leadership has been featured in prominent publications like Marketwatch.com and Forbes, underscoring his impact on the financial planning industry and his commitment to excellence in client service.