While L&A has successfully serviced High Net Worth (“HNW”) individuals in Bermuda and/or other jurisdictions that utilize Bermuda based financial intermediaries from time to time, we have focused primarily on the offshore markets. In researching the Bermuda marketplace, it is apparent to the executives of L&A that HNW residents of Bermuda do not have access to the same sophisticated planning techniques as are used in the international arena. Further, and perhaps more importantly, there do not appear to be knowledgeable advisors who can successfully access the HNW market in Bermuda and/or service these clients consistently with the experience, product knowledge and professionalism they expect.
Therefore, L&A Bermuda was established in order to provide this service in Bermuda. The executives of L&A have over 110 years of collective experience dealing directly with HNW clients in both personal and business estate planning situations. We believe this experience can be utilized for the benefit of HNW individuals in Bermuda (and individuals from other jurisdictions who work with financial advisors based in Bermuda) who are looking for insurance and estate planning solutions.
By combining L&A’s ability to access distribution channels and with the in-house knowledge base, sales experience and product knowledge, L&A wants to recreate the success it has had on a global basis and transplant that to the Bermuda marketplace. L&A has the ability to provide insurance solutions that are denominated in Bermuda dollars, Canadian dollars, Euros, U.K. pounds or U.S. dollars. Other currencies may also be available.
L&A provides customized solutions to meet the wealth structuring, wealth protection and estate transfer planning needs of HNW individuals and in many cases, we partner with other financial professionals (accountants, trust lawyers, estate planning lawyers, private bankers, investment advisors, etc.) in order to provide their clients with access to advanced financial planning solutions. This partnership has one aim in mind, which is to create a comprehensive and cost effective wealth preservation and estate planning solution.
The advantages of a team approach to estate and financial planning are:
- All aspects of estate and financial planning are covered.
- An in depth needs identification questionnaire will assist all members of the team to ensure nothing is overlooked and all client concerns are identified.
- Complex family and business situations will have more than “one set of eyes” reviewing these situations.
Our company’s interest is in providing our potential clients with fundamentally sound financial planning solutions that take into account their own unique set of circumstances and which uses the team approach to financial planning.
We have access to some of the most sophisticated financial products in the marketplace today. With proper design and implementation, these products will give clients the peace of mind that their current and future financial well being will be protected.
In order to assist HNW clients and their advisors, we will use a Needs Identification Questionnaire that is intended to uncover insurance and estate planning solutions to clients’ own situations. The potential needs that might be uncovered are:
- Income for Surviving Family Members
- Debt Repayment
- Liquidity to Pay Inheritance or Estate Taxes
- Business Continuity
- Estate Equalization
- Investment Diversification
- Charitable Giving