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A Wealth of Capability

Insurers that have traditionally been involved in financial planning are expanding into a more comprehensive version of that rolewealth management. The term has become one ...

By Lisa Gray | Updated on December 31, 2002

Insurers that have traditionally been involved in financial planning are expanding into a more comprehensive version of that rolewealth management. The term has become one of the latest industry buzzwords, designed to address investors overall investment management needs from a broader perspective.

In the insurance world, wealth management has become linked to advanced-planning concepts. This type of planning may use such products as extension IRAs, estate tax planning, and business continuation planning. Youre looking at a very flexible picture of the clients planning horizon based on his cash inflow and outflow, which yields the clients net worth. You can then use the clients net worth goals to support retirement planning, college funding, estate planning, and estate distribution goals, says Lisa H. ODay, vice president of advanced sales/program development and management at Jefferson Pilot Financial, a life insurance and annuity company based in Greensboro, N.C.

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