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Should My Agency Be an S Corp or a C Corp?

Recently I spoke at the Independent Insurance Agents (IIA) of Illinois annual conference on financial planning for agency owners. After the presentation which included a discussion on taxes, an owner approached me about the tax structure of his agency. He is currently structured as a C Corporation and wanted to know if that was the […]

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Blog

Updating an Estate Plan – Organizing Your Thoughts

Preparing an estate plan can be an intimidating process, since final instructions for a family’s assets are memorialized.  Upon death, those instructions are fixed – forever.  Estate plans should be reviewed frequently as family circumstances change – children mature into adults and in-laws are introduced into a family.  When children are very young, parents focus […]

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Blog

Solve the 4 C’s Before Selling Your Agency

Last month I had the opportunity to moderate an M&A panel at NAHUs (National Association of Health Underwriters) Annual Conference in San Diego. The panel was focused on what agency owners should look for when considering buying or selling an agency. Panelist Mike Deagle of Benaxis and Lily Lam of OneDigital did an excellent job […]

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Blog

Child’s UTMA is Ending – What Protection Exists?

Uniform Transfers to Minors Act, or UTMA, accounts are a popular way to hold investments and bank accounts for minors.  Such accounts are owned by the minor but controlled by a designated adult custodian.  The minor becomes the outright owner of the account assets when he or she reaches the age of majority specified in […]

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Wealth Watch

Picking Up Pennies

In investments, there’s not much more boring than cash.  Sure, it provides immense comfort when the markets go south, but in the long-term, cash is the piece of your portfolio which is basically set up to fail versus inflation.  By that measure alone, it’s exposure should be limited. Even so, cash still plays a critical […]

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Blog

Theo’s 20% Rule

I’m a lifelong Cubs fan as required by my grandfather who took me to my first Cubs game back when you could buy a bleacher ticket for $3 and bring your own cooler full of drinks into Wrigley Field (Grandpa Tom liked his Old Style). Wow, have times changed. My 12-year-old son Kevin and I […]

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Wealth Watch

Annoying Averages

Growing up in school, no one wants to be average.  From the start, averages are ingrained into us, and behaviorally, we always want to be better than average in everything we do.  Take this question: Are you an above average driver?  My guess is you’d answer yes.  And I’d venture to say that more than […]

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Blog

Long Term Care: Traditional or Hybrid Policies?

Long Term Care Environment Shifting Towards Hybrid Plans When reviewing our client’s insurance coverages, a question we’re often asked is whether to purchase long-term care coverage. To answer that question there are a lot of factors to consider from your family health history to your experience dealing with a loved one going through that difficult […]

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Blog

Your Beneficiary Designations – Are They Correct?

Beneficiary designations are an extremely important component of an estate plan.  They are found on many types of assets such as IRAs, 401Ks, life insurance and annuities and designate who receives the asset after the account owner passes away.  The primary advantage of a beneficiary designation is that asset ownership transfers without the complexities and […]

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Wealth Watch

The Pluses and Perils of Private Equity

As investors, there are a plethora of investment options out there and it’s important to keep track of them.  Not to chase investments or a story, but to watch how things change, what data becomes available, and when something that might not have been an investment for you looking backward should become an investment looking […]

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Blog

Governor Pritzker’s Tax Proposal – What You Need to Know

In March of this year, information was released regarding Illinois Governor JB Pritzker’s proposed tax plan, otherwise known as the “Fair Tax for Illinois.”  There are a number of items in this proposal which, should this become law, could impact both individual and corporate taxpayers in the state of Illinois.  Here are a few of […]

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News

InvestmentNews awards BDF 2019 Best Places to Work for Financial Advisers

Balasa Dinverno Foltz LLC has been recognized as a 2019 Best Places to Work for Financial Advisers as announced by InvestmentNews April 1, 2019. BDF was chosen as one of this year’s top-75 based on employer and employee surveys delving into everything from company culture, benefits, career paths and more. InvestmentNews partnered with Best Companies Group, an independent research […]

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