Weir Financial Resources

Overview

WFR provides financial services and products by means of a unique planning process using interdisciplinary structures of analysis, education and funding. Our macroeconomic approach, cash-flow analysis, product and service solutions demonstrably build the trust and confidence of clients so that they may choose the strategies they determine are best. Our client commitment is met when, with accuracy and diligence, we assist our clients to help meet their stated objectives.


While we offer proven products for earnings and surplus enhancement, process, not product, is the key, to our planning at WFR.


Client Approach

WFR uses a fee-based or commission compensation approach for the work we do. However, clients often allow for us be compensated through state mandated commissions when we place and service financial product on their behalf.


Our company philosophy of developing and maintaining long-term relationships requires that WFR provide not only the best information, ideas and solutions but financial products that are tailored to meet our clients' goals and objectives.


WFR places client assets with many financial institutions. Our foremost obligation, however, is to the client, as their independent representative to the financial marketplace.

Executive Benefits

The heart of one's company is its people. Company executives and key employees ultimately control a company's future. Along with quality of life in the community and the employer culture, competitive compensation and benefits is key to attracting and retaining key employees. And certainly, compensation and benefits become crucial in rewarding and retiring a company;s most productive and committed top talent.

Benefit offerings can be as simple as providing income appropriate welfare benefits, such as supplemental disability income insurance. Similarly simple could be a platform for supplemental income deferrals by executives and directors. Highly compensated employees (HCEs) face deferral and contribution limits in company qualified plans (401k, 403b, etc.). Such limits result in "lost" benefits and a gap in income at retirement. Companies can restore lost qualified plan benefits, and provide additional, income appropriate, deferrals by layering in a deferred compensation plan that mirrors the company qualified plan.

One step further, companies may elect to add incentive-based compensation plans in their effort to recruit, retain, reward and retire key employees. Stakeholder or phantom stock plans are common in private companies. In public companies, a platform to defer of company stock, as well as cash awards, allows executives the ability to best control their savings, vesting and resulting tax impact. There are many design options for such perquisites and Long-term Incentive Plans (LTIPs). It all comes down to tailoring something that best fits the company's objectives.

Plan cost to the company is negligible if it only involves voluntary executive income deferrals (and possibly director fee deferrals). Naturally, cost will be greater for companies that add incentive or service bonus(es) compensation that did not previously exist. Of the approximate two-thirds of nonqualified plans that are funded, two-thirds are funded with financing that provides cost recovery. Plan financing is again tailored to company specific needs and objectives.

Lastly, incorporating appropriate level supplemental life, disability and long-term care insurance is a critical aspect when design, implementation, financing and servicing for your executives and directors.


Retirement & Savings Plans

Financial Counseling

Qualified Plans
Defined Benefit Plans: 412(i), Pension, etc.
Defined Contribution plans:
◦ 401k Plans
◦ 403b Plans
Simple SEP & Roth Individual Plans
 
Nonqualified Plans
Deferred Compensation Plans
◦ Excess - Mirror 401(k) Plans
◦ SERP - Supplemental Executive Retirement Plans
◦ 457 Plans
Stock Award Tax Mitgation Modeler
Executive Bonus Plans
After Tax Plans
Split Dollar
Loan Regime Split Dollar - WFR Video
Integrated QP & NQP Plans
 
Welfare Benefit Plans
Supplemental Life Insurance
◦ DBO - Death Benefit Only Plans
◦ Group Carve Out Plans
Supplemental Disability Plans
Supplemental Long Term Care Plans
Executive Financial Counseling
Cash Flow Timeline ℠ ¬†Analysis and Modeling
Cost Recapture & Debt Reduction
Investment Coordination
Employee Stock Option Diagnostics
Account Aggregation
Pension/Retirement Maximization
Asset Control, Transfer and Coordination
Estate & Tax Minimization
Charitable Giving
 
Please visit the   My Financial Coach website to learn more about corporate sponsored fee-based financial planning with which we are affiliated.

Retirement Modeler
WFR is pleased to provide this new tool to help solve for future retirement income needs. This model is intended to provide estimated values based on participant savings and asset values, as well as to better understand the role of company sponsored/provided executive benefit plans. Please contact us with any questions on use of the model, projected estimates, or used in conjunction with your benefit plan(s).

Download Relevant IRS and Accounting Regulations

Improved Earnings

Cash value life insurance is a sought-after alternative portfolio asset at financial institutions. Specifically, banks, credit unions and insurance companies seek out corporate owned life insurance (COLI), aka BOLI, CUOLI and ICOLI. The primary drivers for financial institutions to hold COLI in their portfolios are tax-deferred, potentially tax-free growth, competitive yields and asset diversification. Company COLI can emulate other portfolio holdings or be distinctively applied across any asset types (e.g., bond/equity; conservative/aggressive; registered/private placement). It is a unique asset for unique use, tailored to company objectives and suitability.

WFR enjoys working with larger clients to assist in understanding and acquisition of suitable institutional products. We are just as heartened when told by smaller clients that the A+ or better rated bond-based products we proferred, have enhanced and protected their surplus/reserves in a fashion unlike any other asset.

For financial institutions, there are guideline limits and regulations regulating cash value life insurance holdings. One key factor in determining eligible capacity is the correlation of insurance assets held to informally fund company benefit liabilities. Any corporate benefit (retirement, medical, welfare, etc.) may be used in this calculation, which allows use of COLI funding well beyond executive benefits. Taking it a step further, the tax-advantaged COLI funding creates incremental income that can help companies afford new benefits. The financial advantages attributed to the underlying cash assets make the policy death benefit somewhat ancillary. There is, however, great intrinsic value should there be a premature death, both in terms of boosted ROI and a capital influx to assist in finding a replacement executive.

One final point of note is how institutional COLI is most often issued with no medical or financial underwriting. This is very important, in that: 1) it is simple to implement; and 2) an executive with insurability issues can be included. If a company provides a related supplemental death benefit, this is even more important. This underwriting method - guaranteed standard issue (GSI), requires a minimum number of key employees.

Astute individuals also recognize the importance of cash value life insurance as an asset class. Many HNW clients combine sophisticated life insurance product strategies (e.g., private placement) with sophisticated strategies, such as premium financing. Not unlike the advantages of financing other large assets such as real estate, financing of life insurance allows capital retention and provides for the arbitrage between borrowing and asset crediting rates sought in any major asset acquisition. And whether personally or trust owned, it creates a highly efficient way to obtain this important asset.


Products Services
Mutual Funds Policy Audits & Education
Individual Owned Life Insurance Policy Type, Design & Carrier Analysis
Premium Financed Life Insurance Reserves & Surplus Enhancement Analysis
TOLI - Trust Owned Life Insurance Policy Compliance & Implementation
COLI - Corporate Owned Life Insurance Policy Servicing & Administration Oversight
BOLI - Bank Owned Life Insurance Financing Integration with Benefits Planning
CUOLI - Credit Union Owned Life Insurance
ICOLI - Insurance Company Owned Life Insurance
PPLI - Private Placement Life Insurance
FOLI - Foundation Owned Life Insurance

Asset Protection

Asset protection is critical for corporations and individuals alike. Financial institution regulators have not yet permitted cash value life insurance as a qualified asset for mandated capital purposes. That said, from a risk-based capital (RBC) perspective, regulators do classify most cash value insurance policies the same as cash. This means it is viewed as a secure asset, which is used as a hedge against other more volatile assets and as cost recovery for corporate benefit costs.


The same is true for individuals and families as they determine the proper type and amount of coverage to protect income, other assets and the opportunity for wealth transfer.


Working with other trusted client advisors and subject matter experts, WFR can collaborate to provide asset protection planning and products that best meet the client's goals, such as:

  • Keyperson Planning:¬† Keyperson Life & Disability Coverage, Sick Pay Plans, Business Overhead Expense Plans
  • Succession Planning: Buy-Sell Funding Strategies,¬†Salary Continuation Plans, Employee Ownership Plans (E/KSOP)
  • Private Wealth Planning: Disability, Long Term Care & Life Insurance
  • Supplemental IDI - Individual Disability Insurance
    • Solutions to help cover the executive income coverage gaps that can exceed 50% of income
  • Premium Financed Life Insurance - WFR Video
    • Solutions for efficiency and retained capital when acquiring permanent life insurance
  • TOLI - Trust Owned Life Insurance
    • Solutions for protecting of insurance assets from creditors and estate tax

Educational Videos

When you select a video to view you may leave the WFR web site. We make no representation as to the contents or accuracy of the information on third party sites.

Planning Videos

Executive Benefits and Perquisites Overview


Deferred Compensation Videos


Loan Regime Split Dollar - WFR Video


Think About the Success of Your Business


Protecting Your Business From a Disability


Can You Live on Less than 50% of Pay as an HCE?
Protecting More of Your Income with Supplemental Disability Insurance



Multigenerational Legacy Planning


Premium Financed Life Insurance - WFR Video


Product Videos

How to Create Retirement Income with Whole Life Insurance


Living Benefits of Permanent Life Insurance


Whole Life Dividends 101


What is Universal Life Insurance


Understanding Indexed Universal Life


Disability Insurance for Key Executive


High Limit Disability Insurance


Why Life Insurance Makes Sense for College Planning