Mayes: My background includes 31 years in the high net worth advisory space, including 15 years focused on family offices. The primary competitive point of leverage for us is to be able to offer and integrate compelling investment options that attract HNW and multigenerational wealth. IPL was formed to provide investment flexibility and continues to focus on building the most flexible platform of investment options for a policyholder. We will continue to add investment solutions to our insurance platform and this is why we believe the best is yet to come for the space.
Hortz: Any final thoughts you can share with advisors on how best they should look at PPLI?
Mayes: I have an extensive network in the wealth space and in every conversation with peers advising aspirational investors and wealthy families, I suggest that if they are not talking to their clients about providing a more tax efficient investment solution, someone else is going to beat them to it. PPLI can be a very strategic tool in growing their business. We have had many great meetings come from this one observation.
My best advice is to not emphasize PPLI as the product it is, but rather focus on the solutions it provides. It is typically not someone who wants insurance that is going to be a customer. It’s someone who wants a more friendly investment environment from a tax perspective or needs an efficient solution to a specific wealth challenge. Life insurance and annuities, in this case, are enablers with the bricks being the internal investments and the mortar being the vehicle contract.
Jahde: We highly recommend that every estate and financial planner, especially any advisor to high net worth family wealth, should be knowledgeable about PPLI and its many unique uses and advantages for income and estate planning. To be competitive and effective in addressing HNW family goals, they need to learn the who, what, when, where and how of PPLI, and all related planning applications.
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