We manage risk. Every day, we find ways to take risk out of our clients’ portfolios. We can also help business owners manage their business risk.
Pension Risk Transfer
There are trillions of dollars sitting on the sidelines, not being used for research and development. But they can be used to take some pension risk off the books. Many of your clients probably thought they were going to have a certain level of income at age 65. But the uncertainty of the status of many pension plans puts that assumption at risk. For advisors, this gives you an opportunity to talk to employers and get in front of hundreds of employees. Pension risk transfer is a cost-effective option and it allows you to save the day.
The Pension Protection Act has forced pension onto the company’s balance sheet, making the risk more prevalent. While it used to be a footnote at the bottom, easy to ignore, now it’s right smack in the middle of everybody’s eyes. Use a pension risk transfer to remove it.
The second thing that we can use to mitigate risk is workers’ compensation through structured settlements. Even without knowing the dollar amount, there’s an opportunity to talk with business owners and build the credibility of the senior management staff while doing what’s right for that injured employee. By structuring a settlement under a worker’s compensation claim, you can leverage tax-advantaged benefits where possible. And we can help structure it in a way that makes sense for the employee. A structured settlement is effective in saving money and time and also earning respect from their employee base.
Mitigating risk for business owners works on multiple levels. Give us a call at (800) 589-3000 to learn more about our business owner solutions. Our retirement income consultants can walk you through these solutions and others.
Managing risk is an important part of owning a business. We’ll help you find new solutions for business owner clients.