PartnersFinancial Podcast

Melissa Bova, VP State Affairs at Finseca closes our long-term care series with a discussion of where states are on their mandatory LTC insurance journey. • Reviews existing laws and outlines those states that have proposals • Discusses the differences and similarities between Washington State and ther other states proposing legislation • Provides context for likelihood of passage • Lists other state-based legislation that our industry needs to be watching

I'm joined by members of Nationwide's LTC team including: Tony Massenelli, Director of LTC Sales, Kyle Chontos, Regional CareMatters Wholesaler (East); and Ian Brim, Adv. Case Design & Competitive Intelligence Specialist (Producer Group Team) to discuss: • Nationwide's long-term care insurance options and the market share that each has within Nationwide; • Ways in which to position the hybrid product and the LTC rider; and • Where these different products are gaining traction

In this conclusion of the two-part series, several PartnersFinancial principals join the podcast to talk about long term care insurance. These special guests include: Ben Kronish, Kronish Associates, Joe Donovan, Bay Financial, Jonathon Geer, Geer Financial Services, Marty Nanne, NFP Minnesota, and Ryan Barradas, WealthPoint. In an occasionally feisty round-table discussion they cover: • Why they sell (or don't sell) LTC insurance; • The ways in which their target LTC client has changed; • How they talk to clients about LTC; and • Which products seem to resonate with clients and why

In a new two-part series, several PartnersFinancial principals join the podcast to talk about long term care insurance. These special guests include: Ben Kroish, Kronish Associates, Joe Donovan, Bay Financial, Jonathon Geer, Geer Financial Services, Marty Nanne, NFP Minnesota, and Ryan Barradas, WealthPoint. In an occasionally feisty round-table discussion they cover: • Why they sell (or don't sell) LTC insurance; • The ways in which their target LTC client has changed; • How they talk to clients about LTC; and • Which products seem to resonate with clients and why

Jayson Samuelson, of the PartnersFinancial Charitable Foundation and Will Platt, Managing Partner, Momentum Advisors join the podcast to talk about their involvement with the PF Charitable Foundation, including: • The success of the fundraiser held during the March Idea Forum; • The ways in which to solicit a grant from the PFCF for other charities; • The positive impact those grants have had on the recipients.

Megan Bronner, VP of Member Benefits at Finseca joined today's podcast to talk about how to maximize your Finseca enterprise membership: Highlighted the 4 main areas of engagement with Finseca Ran through the major Finseca communications and when to expect them Discussed how to get help with your membership and ways to become more engaged with Finseca Find everything you need at the Finseca Learning Center

Sohil Patel, RVP with Nationwide, has join the podcast to talk about the asset class that's preforming well in a higher interest rate environment: • Comparing SPIAs and Premium Deposit Funds and discussing which to choose • Changing deferred annuities into SPIAs to enhance estate planning • Letting the business owner use existing assets to attract and retain new employees

Army Robinson, Chief Advocacy Officer, Finseca and Jen Fox, VP Political Affairs, Finseca came by the podcast to give us a mid-year Washington Update: • Discussed what Congress is focusing on prior to their summer recess and Congress's priorities for the fall session • Covered topics that you and your clients will be talking about this fall, including the possibility of tax legislation • Ran through the different political factors that will impact whether or not the TCJA of 2017 is allowed to sunset 12/31/25

Ryan Barradas, Managing Partner WealthPoint, joins the podcast to talk about how he and his team create effective meetings with professional advisors: • Setting the stage and creating an agenda meeting with professional advisors • Creating a no-pressure buying atmosphere, including finding new clients to work with • Best practices for follow-up and setting the next meeting

Jon Mendelsohn, CEO the Ashar Group, and Jamie Mendelsohn, EVP the Ashar Group, are sharing ways to help find value in existing life insurance: • How to help policy owners weather challenging economic environments • Identifying value in the life insurance other than just cash value or death benefit • Ways to use existing insurance to do future planning

Keeping with our discussion of cash balance plans, David Rosuck, RVP in Chicago for Pacific Life, brings the carrier's point of view to using these plans for client. David covers: • The way to use a cash balance plan as a “tax mulligan” giving your clients a tax “do-over” • How the Secure Act makes the cash balance plan easier to implement • Conversations that you should be having with CPAs and clients

Warren McGuire, Managing Director of NFP Insurance Solutions, joins the podcast to talk about some interesting planning they did for clients that didn't have an obvious insurance need: • How to help the client understand that insurance can be used for many purposes, including fulfilling a charitable legacy • Quantifying insurable interest for the insurance carrier • Changing a charity's perception of gifts of life insurance

Justin Lee, President of JM Financial, joins the podcast to talk about using cash balance plans to super charge your business. Justin talks about: • Why you should talk to your clients about cash balance plans • Refreshes us on what a cash balance plan is • Relays the ways in which cash balance plans can open other opportunities for your clients

Jane Dwyer and Cindy Davis are back on the pod! This time to talk to us about the trends and innovations in underwriting we're seeing this year. We discuss: • Adoption of electronic medical records and new sources for the carriers to check medical records. • Health and nutrition trends that we can all use to improve our health and underwriting offers. • “Red Flag Medicines” that your cover letters need to address so that they don't result in automatic declines.

In honor of National Heart Health Month, our very own Jane Dwyer and Cindy Davis have joined forces with NFP's Medical Director, Dr. Charlotte Lee to talk about: • Risk factors and interventions in Women's Heart Health • Preventative steps we can all take to protect our hearts • How to help clients get the best underwriting offers, even when they might not have the best heart health Guests: Dr. Charlotte Lee, NFP Medical Director Jane Dwyer, VP, Underwriting, PartnersFinancial Cindy Davis, VP, Underwriting, PartnersFinancial

: Life insurance carriers are always innovating their product portfolios. Marc Schwartz and Jeff Driscoll join the podcast to discuss the product trends they're seeing so far for 2023. Marc and Jeff talk through: • VIUL v. IUL products and what the addition of the “Registered Indexed Linked Annuity” (RILA) options to VUL products means for us • Market share among the different product options • How RILA options work, including the different buffered accounts • The clients for whom a VIUL and RILA option might be the best solution Guests: Marc Schwartz, Managing Director, NFP Life Solutions Jeff Driscoll, VP Product & Carrier Management

The House Speaker's Race and what it might mean for legislating in 2023 Legislative priorities in 2023 and how to prepare for the TCJA sunset in 2025 Highlights of Secure 2.0 and if there will be a Secure 3.0 Guests: Army Robinson, Chief Advocacy Officer, Finseca Jen Fox, VP of Political Affairs, Finseca

Tim McFarland, VP Advanced Sales at PartnersFinancial, joins the podcast with a look at the cases that have been decided in 2022. Tim runs through cases centering on business planning, estate, and retirement planning, giving us insight into why the case is relevant to our industry and key take-aways we find in each case.

Shane Swanson, drafting attorney for the Levine Case and PartnersFinancial member Jason Prather join the podcast to talk about: • How the Levine Case came about and what made it the perfect fit for intergenerational split dollar • The considerations that went into both the insurance design and the split dollar agreement to try to ensure success for the Levine family • What they learned from this case, that will apply to future cases where they utilize intergenerational split dollar

Josh Fishkind, CEO of Hope Trust, a PartnersFinancial member firm and platform solution for special needs planning joins the podcast today. We discuss the importance of special needs planning and the resources that Hope Trust provides to advisors, insurance producers, and families. Josh talks through: • 20-25% of Americans say they are providing financial and/or caregiving support for a family member with a major disability. Josh discusses the frequency that he identifies families that have individuals with challenges who require specialized planning. • Strategies the advisors at Hope Trust use to build a “care plan” that works in concert with the “financial plan” already in existence for that individual. • The resources available to you, the advisor, and to the family.

Thank you to our members for your time and insights shared on our Member-to-Member Case Discussions series! Stay tuned for the kickoff of our next Podcast series soon! Part 1: Frank Cochran, Veracor, shares a story about the power of policy review and a well-performing policy: • The client had purchased a Pac Life IUL contract and elected to use premium financing to fund the premiums. During an annual review, the client realized that his policy had over-performed expectations! • Succession Capital Alliance and Michael Rothman who facilitated the financing, gave the client a few options which included: paying off the financing loan or using the excess cash value to purchase more insurance. • The client found himself in the beneficial position of being able to elect between several great options! Part 2: Eric Rosenberger, Synthesis Wealth Planning, joins the podcast with a case study about the pitfalls of unexpected underwriting revelations: • During an annual review Eric discovered that his client's policy wasn't performing as well desired. He began the process of replacing the policy, only to discover that his client had both a new hobby and some health challenges. • Through his knowledge of the client and his relationships with the carriers, Eric was able to find an insurance solution that worked for the client and the carrier.

Thank you to our members for your time and insights on these podcast episodes! Part 1: Jay Cavanagh, NFP Minnesota, discusses a Survivor Lifetime Access Trust (SLAT) that was meant to hold premium financed life insurance. Jay talks about: • How premium financing was the right solution to fund the policy and the assets transferred to the trust to support the financing. • What happens when a client changes his mind at the last minute, especially when the new recipient trust does not have enough assets. Part 2: Vijay Krishnaswamy, Evergreen Wealth, focuses on the business owner client who often has a high net worth without a lot of liquidity. Vijay walks us through a case in which: • The client needed life insurance coverage because of his lack of liquidity but didn't have sufficient liquidity to cover the insurance premiums. • The use of the client's large 401(k) to hold and fund the life insurance to provide the estate liquidity that the client needed.

Part 1: Tim Crowley, President of Focus 10 Life, talks through a success story involving a medical practice and the Focus 10 product. Tim runs through: • The benefits of the Focus 10 product and how to design it • How to increase the group of participants to increase the available death benefit Part 2: Dan Cornwell, Managing Director, NFP Detroit, talks about a case that started as a traditional policy review, but quickly became much more interesting: • How he navigated the case shifting from a survivorship to single life after the clients finalized their divorce, which required a policy split for the clients • The clients needed additional insurance, which was premium financed and reviewed by two different sets of attorneys Part 3: Greg Freeman, Managing Principal, AdvisorServe, brings a business succession story to the podcast, discussing: • A third-generation family business needed a succession plan to continue to stay within the family • The business also needed keyman coverage to effectuate the succession plan • An existing deferred compensation plan was no longer fitting the business' needs, so they converted it to a plan that was a better fit

Thank you to our members for thier time and insights on this podcast episode! Part 1: Ryan Barradas, Managing Partner, WealthPoint,discusses the QLS strategy: · An interesting spin on the QLS strategy that allows clients to convert the qualified plan to an income tax efficient asset and fulfill a charitable bequest. · How the charitable QLS strategy can be used to meet or exceed the benefits of an out-right gift of the qualified plan to the charity. Part 2: Zac Rose,Managing Principal, The Rose Group, talks through a current business succession case that has some interesting additions including: · Using the insurance both for buy sell purposes as well as supplemental income · Creating estate planning to leave the low basis asset in G1's estate while still equalizing the estate for non-business children Part 3: Ben Kronish, Managing Principal, Kronish Associates, shares a success story that involved restructuring policies including: · How to review the case and the policies to provide a more efficient solution for the client, including restructuring existing split dollar arrangement · The power of partnering with others to provide the right solution for clients.

We are excited to kick off our Member-to-Member case discussion series with the below members. Thank you for your time and insights! Part 1: Matt Carbray, Managing Principal, Ridgeline Financial Partners, kicks off our member-to-member case discussion series talking about: • Successfully pivoting a premium finance case when the client got bad health news • A reminder of why we are in the Life Insurance business Part 2: Steve Varley, Managing Principal, Garrity, Tegeler & Varley Wealth Strategies, LLP, keeps the momentum rolling with a case discussion about: • Successfully helping your clients with long-term “term strategies” • The importance of regular reviews of your client's term portfolio Part 3: Jeff Ostrum, Managing Principal, Financial Architects Partners, provides insight into how service can be used to drive new sales: • Creating opportunity through the annual review process to introduce your client to ideas that other, similarly situated clients, utilize • Introducing premium financing to pay the premiums on existing insurance and new coverage

Caroline Brooks joins the podcast to talk about the recent decision in Estate of Levine v. CIR. Caroline will discuss: • What sets Estate of Levine apart from prior cases such as Morrissette • The lessons Levine provides to producers,planners and carriers • How to use the Levine decision to drive future intergenerational split-dollar planning Guest: Caroline Brooks,AVP and Counsel, Head of Advanced Markets, John Hancock

Derek Welch and Ryan Patton joined the podcast to talk about opportunities that can come from business valuation: • How to drive sales through providing a client with a valuation of their business • The best ways to leverage Nationwide's Business Valuation Tool • Business Valuation success stories Guests: Derek Welch, Sr. Director Advanced Consultant, Nationwide Ryan Patton, Technical Director, Advanced Sales, Nationwide

Jessica Espinoza joins the podcast to talk about Pooled Employer Plans and why everyone would benefit from participating in one. Jessica will run through: • What is PEP? • How are NFP's PEPs different and widely applicable? • Which businesses could benefit from participating in a PEP? Guest: Jessica Espinoza, Managing Director of Retirement at NFP

Caroline Brooks, from John Hancock, joins the podcast to talk about the impacts of the macroeconomic pressures on life insurance including: Episode Take-aways: • The macroeconomic pressures clients are focusing on • How product selection and case design can respond to the larger economy • Inflationary pressures on Life Insurance and Long-Term Care Guests: Caroline Brooks, AVP and Counsel, Head of Advanced Markets, John Hancock

Meg Muldoon from Penn Mutual, joins the podcast to talk about the importance of special needs planning. Episode Take-aways: • How to start a conversation with your clients about special needs planning • Balancing government benefits with the overall financial plan • Specific language to use when working with a family that has a child with special needs

Bill Bell from Pacific Life joins the podcast to talk about how to position position life insurance with your client's attorney most efficiently. Episode Take-aways: • Strategies to position insurance that resonate with planning attorneys • Tips for successful collaboration and common mistakes to avoid • Ideas to share with planning attorneys for adding insurance into the overall estate plan Guest: Bill Bell, VP, Advanced Design and Illustration Development, Pacific Life

There has been a lot of buzz about the changes made to Section 7702 and the potential impact to whole life insurance. Jeff Driscoll joins us on the podcast today to talk about the current state of whole life insurance. Episode Take-aways: • Whole Life's competitive positioning in 2022 • Best practices for comparing Whole Life policies • Whole Life sales strategies, inclusive of premium financing

Join PartnersFinancial members Julian Movsesian, Michael Rothman, Abbe Large, and Jessica Jung for a discussion on premium financing where they share some success stories – two of which led to closing their largest cases to date! Episode Take-aways: • Best practices for selling premium financing in today's remote world • How premium financing will fare in a rising interest rate environment • Success stories using IUL and WL Guests: Julian Movsesian, President & CEO, Succession Capital Alliance Michael Rothman, EVP, Succession Capital Alliance Abbe Large, SVP, Lenox Advisors

Join Mike James, Peter Chung and Kristin Bulat for a candid conversation about stand-out wins in 2021! They will also discuss the opportunities we are seeing for 2022. Episode Take-aways: • 2021 wins: membership resiliency, virtual meetings, carrier partnerships, Finseca Enterprise Membership etc. • 2022 opportunities: in-person meetings, value proposition modernization, long-term incentives, evolution of the Finseca Enterprise membership, leveraging broader NFP capabilities and more!

Episode Take-aways: Join Jeff Ostrum, Zac Rose & Howard Sharfman as they discuss the strategies they use to set themselves and their sales teams up for success in the New Year! • Leveraging 2021 metrics to improve in 2022 • Tips for reasonable goal setting and accountability that drive success • Grow your practice and develop producers with client services • Balancing being reactive and proactive to stay on track with business goals Guests: Jeff Ostrum, Managing Principal, Financial Architects Partners, Zac Rose, Managing Principal, The Rose Group, Howard Sharfman, Managing Principal, NFP Insurance Solutions.

Episode Take-aways: • Redefining Wellness: Ways to highlight your client's wellness factors to enhance underwriting offers • Positive impact of a focused cover letter on underwriting offers • Underwriting success stories using PartnersFinancial QuickQuote tool on Blueprint Guests: Jane Hall, VP, Chief Underwriter & Cindy Davis, AVP, Senior Underwriting Consultant, PartnersFinancial

Episode Take-aways: • Washington state and the LTC landscape • State and federal legislative changes that will impact the LTC market • Successful LTC sales strategies & product updates Guests: Tom Riekse, Managing Director and Steve Cain, Director, Sales & Business Development, LTCI Partners

Episode Take-aways: • Current underwriting trends, including the shift toward Electronic Health Records (EHR) & concierge underwriting • Correlation between higher minimum face amounts for informal applications and electronic/streamlined submissions • Evolving underwriting requirements in the on-going COVID Era

Episode Take-aways: • Why we seeing more carriers come out with PIAs now. • How the AG 49 & AG 49A Rulings have contributed to the development of PIAs. • Why PIAs are beneficial to clients, producers & carriers. • What you need to know when selling IULs with PIAs.

Episode Take-aways: • Bill shares his top 5 likely tax reforms we could see under the Biden Administration • Considering those potential tax law changes, we discuss planning techniques that would work now and with those changes • Bill reminds us of the benefits behind conservative and flexible planning Please Note: This podcast was recorded before the release of the recent proposals and while the tax changes are in flux, the sales ideas discussed are still applicable. Guest: Bill Bell, AVP, Advanced Designs and Illustration Development and Pacific Life Insurance Company

Episode Take-aways: • The history of QLS – what it is and isn't. • How premium financing and charitable planning compliment QLS. • Which clients are the best fit for QLS? Guest: Phil F. Spalding Jr., Partner & QLS Founder, Wealthpoint

Episode Take-aways: • How Activ8 can “unstick” a stuck case by getting all family or business stakeholders to the table to talk about their collective goals for the planning process • Activ8's proven strategies for facilitating the discussion with stakeholders to bring a plan to fruition • Best practices for using Activ8 to support the discussion with your clients Guest: Jay Cavanagh, Managing Principal, KNW Group, LLC and Erik Gabrielson, Founder Activ8

Episode Take-aways: • Why your clients and their advisors would want to engage a professional trustee to manage their life insurance trusts • Ken's experience with LitCo and how they can work with you and your clients to manage their ILITs • The services that LitCo provides to clients with new and existing ILITs and how they complement your clients' planning Guests: Ken Samuelson, Managing Principal, The Morehead Group and Leon J Wessels, Life Insurance Trust Company

Episode Take-aways: • Using your relationship with clients to help clients see that life insurance serves as a balance to their existing financial plan • Helping clients articulate their goals and identify needs that life insurance can meet • Ideas for integrating life insurance sales into the overall financial planning picture Guest: John Freiburger, Managing Principal, Partners Wealth Management and Bob Peckham, AVP Business Development, PartnersFinancial

Episode Take aways: • Army & Kristin discuss the timing of upcoming legislation, both the bi-partisan infrastructure bill and the tax reconciliation “soft infrastructure” bill • What does the Green Book signal regarding tax law changes? • Finseca is watching state law changes and introduction of best practice standards Guest: Armstrong Robinson, Chief Advocacy Officer, Finseca

Episode Take aways: • Carly discusses the increased focus on income taxes and how life insurance can help with income tax planning • A review of the planning techniques that are resonating with clients today • How John Hancock's products are well suited to help with income tax planning

Our experts share their top four tips for protecting your business and discuss the staggering increase in cyber-attacks. We discuss the steps that NFP is taking to protect its member firms and employees. Then, we hear from a PartnersFinancial member on their first-hand experience with cyber security the value of having cyber liability insurance. You'll learn about the cyber liability insurance programs that NFP offers and tips for what to look for in a cyber liability insurance policy. Speakers: Shelly Forman, Director of Accounting and Finance, Wealthpoint Elissa Doroff, Managing Director Cyber Technical Leader, NFP Mark Grosvenor, CTO NFP Hosted By: Kristin Bulat, SVP Strategic Resources

Foreign national and international insurance often get confused, but they're two distinct opportunities that the experts at PartnersFinancial and NFP can help you navigate. In this episode we discuss ways in which to find foreign national and international cases, provide insights into how to navigate the situation when your client isn't a US resident, and share details and successes from closed cases. Speakers: Cindy Davis, AVP, Senior Underwriting Consultant Matt Douglas, VP Business Development Hosted by: Kristin Bulat, SVP Strategic Resources

This episode, we discuss the ways in which NFP continues to support its employees and member firms through the work-from-home environment created by the COVID-19 pandemic. You'll learn helpful tips for all employers who are considering the next best steps for their businesses and employees as they transition back to a “new normal.” Speakers: Mary Steed, Chief People Officer NFP Mike James, EVP, Head of Individual Solutions Hosted by: Kristin Bulat, SVP Strategic Resources

Welcome to the PartnersFinancial podcast! In this first episode, we discuss must-know information about electronic health records, innovations in underwriting and the best ways to utilize those innovations to find efficiencies for you and your clients. Speakers: DuWayne Kilbo, SVP & Chief Underwriter Windsor Jane Hall, VP & Chief Underwriter, PartnersFinancial Hosted by: Kristin Bulat, SVP Strategic Resources