SL & Associates
Private Client Insurance Advisory Firm
“Why does SL & Associates exist?” We exist to be the plumb of truth in our industry. We believe all people should have access to financial knowledge and be financially empowered instead of being sold. Sadly, the financial and insurance industry use to have more professional advisors than salesman, unfortunately over the past 3 decades that ratio has flipped. The evidence is overwhelming. We are professional advisors and have the education, experience and clientele to prove it.
“How does SL & Associates differ from the rest?” To quote several clients, we are “interesting”. In an industry where everyone claims to be unique, we bring a perspective that captures our clients attention and interest. From our approach to our methodology, from the way we work with clients to the way we maintain those precious relationships, we are interesting.
What do we do?” SL & Associates, LLC is a private client advisory firm that specializes in Asset Protection, Liability Mitigation, Wealth Transfers and all matters pertaining to insurance.
What is Asset Protection? How does it differ from Liability Mitigation? Why would I want to transfer my wealth? How does Insurance fit into the picture? Glad you asked.
Asset Protection Planning (APP) is often a multi-disciplinary, proactive form of planning, usually orchestrated by either Insurance Professionals, Financial Advisors and involving Attorneys, who work together to protect a client’s assets. We define an asset as anythings that makes money now and later. Examples of common assets include real estate, retirement portfolios, business interest, precious metals, collections, etc. The reason for this level of planning is to prevent the negative financial effects of the most common show-stopping events: a) lawsuit, b) divorce or breakup of a business partnership, c) long term disability, d) creditors or unexpected taxation, and e) premature or untimely death. APP often involves a series of legal and accounting documents and is usually always funded by insurance because insurance is often the least expensive way pay for the risk transfer. In addition, APP involves maneuvers that can deter a lawsuit, provide settlement negotiations and help prevent the seizure of assets in the event of a judgment. If there is a judgment, and insurance is in force, and covers that peril, the money to pay for that loss comes from the insurance policy and not your pocket. Asset and/or Wealth Transfers away from your estate, can also be forms of APP.
Liability Mitigation Planning (LMP) is often a singular-disciplinary, proactive form of planning usually orchestrated by an Insurance Professional or a Certified Risk Manager. It involves risk analysis, probability studies and impact measurements. The result of this approach is providing a path to a solution for the client. They can either choose to a) transfer, b) reduce, or c) acceptance of the risk and related potential loss, but eliminating the risk is often not an option. Our goal is to study the clients situation, understand their needs and wants and provide our professional recommendation.
How does insurance fit into the picture? Insurance is simply a tool, a funding mechanism. Its job is to assists in the prevention of loss, preservation of capital and in the event of a bad day.
- Steve Lopez
Principal Partner, Client Advisor