Mike Foltz, JD, CPA, CFP®
What do your clients appreciate most about you?
I believe my sincerity is what they find most valuable. I take great pride in getting to know clients’ families and personal situations so that I am able to advise them based on what I know about them.
What skills or characteristics make you uniquely qualified for this work?
I have an extensive background in law, tax, and estate planning. I bring those disciplines together in constructing well-rounded personal wealth management plans.
Who are your role models?
My Mom and Dad are my role models. My Dad always got to work an hour early and never took a day off. He had only a two-year high school degree but worked two jobs for his family. He taught me that growing up is thinking less about yourself. My Mom taught me the importance of schoolwork and that failure in school is not an option. My cousins Joe Crispino and Stella Berardi-Marzano (a BDF client!) greatly influenced my career.
What was the inspiration behind founding BDF?
It was important to me to provide a trusted resource to clients, family, and friends – a place where people could go to receive competent and thoughtful advice that served their best interests. I really felt our law and tax backgrounds could give clients the financial advice they needed – in one place, where the complexities of investments, estate, and tax issues could be brought together in an understandable way.
BDF founding principal Mike Foltz believes in giving business owners peace of mind about their family’s financial future. “I’m passionate about helping people make sound financial decisions and setting up their financial plan so that it works well, not only for themselves but also for generations to come.”
Mike draws on 20 years as a practicing lawyer to review clients’ estate plans and determine how to address their business concerns, such as how stock or ownership interest in the company can be passed on in the most tax-efficient way.
As founder of the Business Owner team, Mike has led the development of a unique, comprehensive approach to evaluating and prioritizing the concerns that business owners face, as well as making recommendations to manage those considerations and quarterbacking the team of advisors to implement those recommendations.
Mike’s greatest passion, his wife and three children, makes him particularly sensitive to family dynamics and the need to maintain family harmony. He often leads family meetings for his clients, where he learns about the legacy the family is working to create and what is important to each family member. Then he adapts his advice to help the family make decisions that will best fulfill their needs and desires.
Another of Mike’s passions is creating a team-focused environment that nurtures the best in wealth managers. Having benefited from mentors throughout his career, Mike feels compelled to help others by sharing his experience and knowledge with BDF team members. “I’m passionate about helping people progress in their own careers. If every one of our team members made this the only place they work, that would be a dream for me, because it tells me that BDF serves everything they sought for their career.”
Mike shares his deep estate planning expertise by following the ever-changing federal and state estate tax laws and preparing educational summaries for clients and team members.
Recognized by Chicago magazine as a Five Star Wealth Manager, Mike has given numerous presentations on estate planning to BDF clients and professional organizations such as the Exit Planning Institute. Publications such as Inc. magazine and the Wall Street Journal have featured his insights into estate planning, and he developed an estate-planning guide for wealth managers for CCH.
Mike earned a BS in Accounting from Illinois State University and a JD from Chicago Kent College of Law. He currently serves on the board of trustees for Rosalind Franklin University.
If you’re looking for peace of mind about your financial security and your family legacy, call Mike.