BSMG Blog: Protecting the Future of Families and Businesses

Bridging the Generational Gap Part II: The Baby Boom (1946-1964)

Baby Boomers, the 78 million Americans 50 or older, were born into unprecedented post-war prosperity (the “pig in the python”) and now control 67% of the country's wealth ($28 trillion dollars) and 80% of personal financial assets.*

When Willie Sutton was asked why he robbed banks he said; “that is where the money is.”

The sheer size of this generation has been a dominant force in American life since the 1950’s. From the baby food and school construction craze, to the hippies,  the yuppies ,  the workaholics and the supermoms, the affluence of the baby boomers has made them notoriously adverse to planning for their own retirements. Having come of age during the Civil Rights movement, Vietnam and Watergate, they tend to have retained high idealism, but perhaps surprisingly are far more loyal to organizations – including financial organizations – than other generations.  Read More

Bridging the Generational Gap Part I: The Silent Generation (1925- 1945)

When it comes to investment planning, there is a large generational gap between the older folks who still form the bulk of the advisor-client bases, and their children. The parents, having been born in the Depression, or at least the recent memory of it, too often view their kids as spendthrift, credit junkies who can not be trusted to handle their finances.

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Why Traditional Estate Planning Is Not Enough

Despite all the time and effort that’s put into traditional estate planning, the results have been less than remarkable. Research has shown that 70% of a family’s inherited wealth is lost by the first generation of heirs, and 90% is lost by the following generation.*

A traditional approach to estate planning can be passive/aggressive—neither assertive nor interpersonal, but has a major impact on other members of clients' families without their input.

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[WEBINAR] IRA Wealth Transfer After Tax Reform


We Invite You To Join Us on Tuesday, July 21, 2015 @ 2PM ET

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Don’t let your clients “Feel Like a Number”

Bob Seger may have stated it best;

“I feel like just another
 Spoke in a great big wheel
 Like a blade of grass
 In a great big field”

“I feel like a number”

The foundational goal of Risk Differentiation Underwriting (RDU) is to “turn the page” on Mr. Seger’s lyrics and change the title of his 1981 classic from “Feel Like a Number” to “Feel Like an Individual”

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2 Reasons to Consider the Foreign Nationals Market

Why Consider the Foreign Nationals Market?

#1 This Segment Is Growing Faster Than The Population And Is Typically More Affluent. 

Think of employees of multinational corporations stationed, physicians and medical professionals, academics and graduate students or purchasers of vacation properties.

#2 Foreign Nationals Have Unique Estate Planning Needs.

These potential clients require specialized information on strategies and planning. These needs arise based on their tax treatment under the U.S. tax code. Most Foreign Nationals aren’t aware of the considerable estate tax implications they may face, in the U.S. as well as in their home country. Life insurance can be a critical part of a comprehensive estate plan for these clients.

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Wealth Transfer: Why Are Advisors Missing the Mark?

How often do you lose the assets of a spouse or family members after a client dies? Research tells us that 90% of heirs will reject their parents’ advisors, and 70% of widows will change advisors after their husband’s death. In fact, the primary cause of an “advisor-client break-up” is the assets leaving as estates are executed. A big mistake made by advisors in this situation is being unprepared to capture the spousal transfer and/or intergenerational shift in wealth.

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