Letter From Bob

Dear Clients and Prospects,

For years, I’ve introduced myself as a professional who works with clients, their families and their advisors in the areas of Wealth Transfer, Tax Efficiency and Risk Management. I have found that each new client engagement encompasses at least two, if not all three components.

Wealth Transfer is different from estate planning or financial planning. Estate planning is a legal exercise, and financial planning is, by its nature, a financial exercise; however, wealth transfer is an emotional exercise with legal and financial consequences. The key is to discover what people value most in terms of what they want to share with future generations and to share with them the impact or consequences of any planning choices.

Tax Efficiency is a broader concept than addressing immediate tax minimization. Certain financial products or planning techniques may have short term benefits, but with significant long-term consequences. Many products are sold or recommended that focus on the immediate tax benefits with no discussion about how the individuals or their heirs will be impacted in the long run.

Risk Management encompasses an analysis comparing risk and reward. Investment risk, market risk and volatility all come into play in deciding what planning opportunities should be implemented. While some type of risk can never be eliminated, a successful strategy should produce a result whereby the reward received exceeds the risk profile. Cost can be put into context with what the clients will ultimately receive or achieve. In other words, price is only a consideration in the absence of value!

Ultimately, what truly motivates me, what has become deeply gratifying to me is hearing from my clients about the difference I have made in their lives. The most enjoyable part of my business is getting to know quality individuals, what makes them “tick”, what successes (and, yes, failures!) have brought them to where they are now and where they want to go. What I endeavor to build with people is a relationship, and many of these relationships now span not only decades, but in many cases multiple generations.

To my existing clients and professional colleagues, thank you for allowing me to be of assistance. To those of you I have not yet met, it would be an honor to spend time with you to see if I can help make what you hope to happen come to pass.

Most gratefully,
Bob Larkins CLU, ChFC
Managing Partner