WesleySierk.com
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You Can Make It, But Can You Keep It?
Scarce resources target the needs of very affluent businessmen and women. And any resources that do address this upper financial echelon focus on wealth building rather than on asset protection. Yet for this wealthiest class of citizens, the question should not be: Can you make it? Let there be no doubt: You can and you have. Rather, the question should be: Can you keep it? Can you avoid the sometimes devastating repercussions of the lawsuits, partnerships-gone-astray, taxes, faulty estate planning advice, risky investments, and liabilities so common to the super wealthy? Can you protect your money from all the people and entities trying to take it from you?
You Can Make It, but Can You Keep It? discusses the paradigm shift that is necessary for the wealthiest Americans and their advisors when dealing with asset management and protection. Conventional investment houses treat wealth management as portfolio allocation in stocks and bonds, but this historical approach is far too narrow for the sophisticated wealth holder, who should instead emphasize strategies for retaining what he already has. Instead of working solely on growing your business or your assets, the Contrarian Wealth Protection and Risk Management Philosophy asks you to consider your overall situation, developing strategies to address the worst-case scenarios so that your business partners, ex-spouses, children’s spouses, the government, and creditors cannot strip you of your hard earned assets. It is this contrarian approach to risk management, and the philosophy that runs through its genes, that a wealth holder should adopt if he aims to keep his wealth.
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TAKEN CAPTIVE has become the industry’s leading resource for providing basic education and expert guidance on using captive insurance companies in alternative-risk-financing strategies.
Wesley Sierk, III, a trusted insurance-industry expert and president of Risk Management Advisors, provides readers with a step-by-step guide to understanding captives and how they are being used to significantly improve companies’ bottom lines.
TAKEN CAPTIVE answers the following questions:
- What is a captive?
- Why form a captive?
- What are the different types and structures of
- captives?
- Which domiciles are best?
- What are the tax implications?
- What are the risks associated with forming and
- operating a captive?
- What are the steps involved with forming a captive?
- Is a feasibility study necessary?
- What kind of risks can be underwritten?
- What’s involved in managing a captive?
- How can a captive correctly be used for asset protection and estate planning?
This invaluable resource should be in the library of every manager responsible for understanding or managing their company’s risk financing strategy!
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"I have been working with Wes and RMA for the past five years. I learned about captives a few years before that but never really felt comfortable recommending them to my clients. After I met Wes and spoke with him at length about how captives work and the various benefits they could provide to my clients I felt completely comfortable recommending them. Wes is one of the most intelligent insurance professionals I’ve met over the past twenty years and his firm, RMA is a well-oiled machine. They are very organized and meticulous about their day to day operations. Working with Wes and RMA has been a great experience and they always make me look great to my clients."
Seamus O'Brien
President, O'Brien & Associates
"Many factors go into owning your own company. It isn’t always A+B=C. One year suppliers are filling orders on schedule with quality products and customers are happy. Another year, the once reliable supply chain breaks, inventory is no longer produced on time or in best quality and customers become unhappy. Sometimes even with good quality products and service provided to customers, something happens on their side and they are no longer able to pay. Working with RMA and having a captive insurance has helped our company not take such a financial hit when things outside of our control affect our bottom line. Wes and his team at RMA are very knowledgeable and have helped us understand an area we knew nothing about but benefit from greatly. Standard insurance policies do not protect us from these unknown variables and having a captive in place has offset the damage that “normal” insurance will not/does not cover "
Alex Weidner
President, Howard Core Company
