Solutions Overview
Although there are similarities between Planning Firms, at Conry Financial Services, we combine our 53 years of professional experience with a keen understanding of our client’s goals and objectives, and take pride in developing unique, safe, time-tested strategies to help seniors meet their financial goals.
The following represent some of the more commonly used strategies used for the benefit of our clients:
- Estate Planning: You have worked your entire lifetime accumulating significant assets. Make sure Uncle Sam doesn’t inherit more of your estate than your heirs.
- Wealth Transfer Planning: Certain assets which you plan to pass to your heirs, or other beneficiaries, may be subject to income taxes, as well as other taxes, at your death. In the absence of proper planning, this heavy taxation will significantly erode a portion of the asset’s value.
- Income Maximization Planning is typically indicated where current sources of income have been devalued due to market fluctuations, or have not kept pace with inflation, additional income is desirable, yet there is still a need to pass money to your spouse and other loved ones.
- Asset Maximization Planning is a strategy that may enable you to significantly increase the value of most, and in some cases all, of the assets you have worked a lifetime to acquire. This strategy is typically indicated where clients have amassed many different types of vehicles to grow money during their lifetime, and earmarked to pass to your spouse and other loved ones.
- Insurance Planning surprisingly, tends to be the most overlooked type of planning. In most cases, insurances policies represent the keystone of most retiree’s financial wellbeing. Yet, most people spend more time reviewing other, less significant assets, and tend to ignore their insurance policies.
- Life Settlements: Since 1998, Conry Financial Services, Inc. has been assisting clients with the use of Life Settlements (also known as Senior Settlements), which is the sale of an in-force life insurance policy, to an institutional funder, for more than the cash surrender value offered by the insurance company.
Our Due Diligence Process
The work we do for our clients does not stop with our experience and technical expertise. When insurance products serve as a viable planning tool to enhance our planning strategies, the products we offer must pass a rigorous selection process. Only top insurance companies, with excellent claims paying ability, are offered through our office. We do not rely on any one rating agency to assess the financial strength and claims-paying-ability of an insurance company.
At Conry Financial Services, all five rating agencies are used in our Due Diligence Process, which results in a report card, expressed in terms of a Comdex Rating. In our opinion:
- Insurance companies with inadequate claims paying ability have a Comdex Rating from 50 to 60.
- Insurance companies with a poor, to average claims paying ability, are in the 60 to 70 range.
- At Conry Financial Services, only those companies with a superior claims paying ability are offered. For years, we have only recommended products from carriers with a Comdex Rating of 80, or better.
