Protecting Clients from Fraud, Incompetence and Scams
Protect your clients – and yourself – from all kinds of financial chicanery and stupidity with this vital new book
It doesn't matter if a financial error was made because of
malice or ignorance – the end result is that you lose money.
Luckily, you don't have to sit idly and take it. If you have
Protecting Clients from Fraud, Incompetence and Scams, you
can identify and avoid the dysfunctional sectors of the financial
industry, steer clear of the fallout from the Madoff Era, and guide
your clients to real, healthy, sustainable returns. This powerful
- Pinpoints dysfunctional sectors within the financial industry and offers advice against frauds and scammers
- Shows how a team approach to asset management can ward off financial predators
- Offers practical strategies and tools to combat client risk for Risk and Asset Management
Offering insightful information to protect your clients from all sorts of frauds and incompetence, this essential guide equips you with tips and techniques to spot the red flags of fraud and prevent it before it starts.
Introduction: Every Accountant and Attorney Should Read This Book.
CHAPTER 1 Meltdown.
The Party's Over.
We All Know The Result.
Retirement Plans and the IRS.
CHAPTER 2 Everyone Needs a Family Office.
Why a Family Office?
Retaining a Firm.
The Family Office Advantage.
CHAPTER 3 Protect Your (Retirement) Assets.
The Fiduciary Duty.
Documenting a Process.
Plan Options/Simple IRA.
You Cannot Save Enough.
Another Option – The 412(e)(3).
The Cash-Balance Plan.
CHAPTER 4 How Much Did You Lose Last Year?
Basic Financial Strategies Quiz.
Estate and Financial Planning.
Other Post-Employment Benefits.
VEBA Plan Benefits.
CHAPTER 5 Self-Defense.
CHAPTER 6 Asset Protection Basics.
Asset Protection—Necessity, Not Luxury.
Who Needs Asset Protection?
Separating Ownership from Control.
What Is a Trust?
How Does a Trust Work?
How Is a Trust Used?
Asset Protection FAQs.
CHAPTER 7 Shifting the Risk Equation—Insurance Maneuvers.
Key Employee Insurance.
LTCi for The Business Owner.
Life Insurance for Business Continuation.
CHAPTER 8 Reevaluating Existing Insurance.
Evaluation or Audit.
CHAPTER 9 What Financial Advisors “Forget” to Tell Their Clients.
CHAPTER 10 The Truth About Variable Annuities.
Variable Annuity Components.
Mortality and Expense Charges.
CHAPTER 11 What Life Insurance Agents “Forget” to Tell Their Clients.
CHAPTER 12 What You Must Know About Life Settlements.
Industry Regulation and Compliance.
Licensing and Reporting.
Best Execution and Due Diligence.
Evaluation and Processing.
CHAPTER 13 What Health Insurance Agents “Forget” to Tell Their Clients”.
Out of Control Costs.
Small Business at Risk.
The Risk of On-Site Medical Clinics.
Using an HSA for Your Personal Retirement.
Creating an Employee Retirement Vehicle.
IRS Form 8889 (HSA).
More Effective Strategy.
Aggregate Cap Planning.
Managing General Underwriter.
CHAPTER 14 College Funding Strategies and Solutions.
The Traditional Approach.
Good Intentions, Disastrous Consequences.
CHAPTER 15 Two Alternative Investments for Financial Independence.
The Tertiary Market.
CHAPTER 16 Avoiding Fraud: Small Business Case Study.
Dismissal and Prosecution.
Appendix A Best of the Best.
About the Authors.
About the Contributors.
Mark Boehm, MBA, CWPP
Aaron Skloff, AIF, CFA, MBA.
Carl Allen, III.