Welcome to our new series where we get to know someone within the Investors Preferred Life a little bit better. First up, we learn how Anthony Stanek came to join us here at IPL, what he wishes more people knew about private placement and what he is watching on TV these days. Read it all below.
I am the Senior Managing Director of Marketing and Development. The role covers a range of activities aimed at enhancing the company’s market presence, brand visibility and potential distribution agreements.
I was born and raised in Central New Jersey and attended Rutgers University. I had the opportunity to move out west 8 years ago and have lived in Arizona ever since. Outside of the 110+ degree heat we have during the summers, both my family and I love it out here.
When I look back at my career journey, what jumps out to me are certain themes that I noticed were developing that fit perfectly into private placement.
Right out of college I had the opportunity to join a MetLife career agency. It was a great opportunity to get licensed and learn the insurance business from an agent perspective. After a year and a half, I had the opportunity to move to MetLife corporate and work on their internal sales desk supporting the largest agencies in the country.
Early on, I was very fortunate to sit outside of an executive’s office that was responsible for the creation of new products, and we had a friendly relationship due to our shared passion of cars. He would let me sit in on meetings with high level executives as they discussed distribution, pricing, and the competitive aspects of new products being rolled out. It was a high-level education and peek into the decision-making process that would occur at the executive level.
After my time at Metlife I had the opportunity to work on the wire house side at both Merrill Lynch and UBS. It was an interesting time to be in the wire house space as I was able to witness the transition of these organizations to a more holistic planning model that included the use of insurance and other planning tools that had not been as prevalent prior.
Given my wirehouse experience, I was offered an opportunity by AIG to move to an external role position covering their wirehouse channel, which was a new venture for their distribution. That led to a position at Lincoln Financial where I was lucky enough to work in their highly competitive producer group channel working with some of best and brightest independent producers across the country.
Through these positions, I noticed that theme that was very prevalent in the ultra-high net worth space. Clients and their advisors were gravitating towards a higher level of complexity and customizations.
From the wealth management space, you could see this in the types of products being offered in the wirehouse/bank channels and the explosion of new open architecture RIA firms. From a client perspective, I observed ultra-high net worth clients seeking a higher level of advice, especially in the family office setting. This theme is really what started my interest in the private placement space as it is a great marriage of the insurance and investment worlds within a product that offers the flexibility required for very complex estate and wealth transfer planning.
After my initial conversations with both Nikki and Tommy at IPL, I was left extremely impressed at the level of complexity and sophistication that a smaller firm was able to achieve in everything from the policy administration system to illustration tools and the high-level planning concepts that were being circulated. The one statement that continued to standout from our conversations was that Investors Preferred was a carrier that comes from a place of “yes”.
That attitude reaches across all areas of the business from innovation on the product side right down to the way that new relationships are onboarded. Their goal was to bring someone on board that shared in this vision and could continue and build on the work already done to make Investors Preferred a premier carrier in the private placement space. I felt this transformative role was an amazing opportunity and one that I was more than happy to accept.
PPLI is a product that brings two very important planning partners together – the sophisticated high-end insurance producer and the top-tier wealth management advisor.
I believe the person that really benefits the most from that harmonious relationship is the client who has the potential of having a very efficient product that works well in a variety of different ways, from wealth transfer to accumulation-based designs.
One of the biggest things is the level of flexibility that is available within the Private Placement Structure, in both the policy design to the compelling investment options that continue to grow and mature.
Another appealing aspect for a lot of policyholders is the transparency and competitive pricing when compared to traditional life insurance products. PPLI is priced and bundled like an investment. Fees and costs are clearly listed and, unlike most retail insurance products which carry surrender charges for as long as twenty years, PPLI policies generally do not carry surrender charges and can be surrendered without a penalty.
Its funny recently I was having a conversation with a family office that has continued to explore the private placement space every couple of years. They mentioned how mature it has become in such a short time. That conversation really served as a reminder of how important education continues to be in this space.
The reason can be traced back to the fundamental core values that were instilled when Investors Preferred was initially established. The essence of the firm’s inception revolved around providing a high-touch experience and delivering unparallel service. Commitment to our relationships and approaching opportunities and challenges from a place of “yes” is evident in each department and across all team members in the organization.
The talent that exists in the organization gives me great confidence that Investors Preferred will continue to be a premier carrier in the Private Placement space and continue to create efficient solutions for our current and prospective policyholders.
Currently it seems like I have one per subscription service so not very efficient on that front.
