This month, our “get to know” takes a bit of a different form as we introduce a father-son pair! This month, we sit down and talk to Doug and Jonathan Gerrard of Gerrard Advisors.
Read on to learn more about Doug and Jonathan, how they both came to work in the industry (and with each other), what they wish more people knew about PPLI and, of course, what their watching on TV these days.
Jonathan: Complex tax and financial planning for ultra-high net worth individuals and families as well as operate a multifamily office. One of our principal strategies is the use of life insurance for tax optimization and intergenerational wealth transfer.
Doug: We are strong proponents of PPLI. From the tax benefits to the ability to customize investment options, we look at PPLI as a tool for both legacy protection and wealth/income maximization. Whether it be new or leveraging current coverage, we utilize IPL’s core offerings to increase economic benefit for our clients.
Doug: So few current or perspective clients really understand the power of PPLI. More than any other insurance product that we utilize, it requires an education process to make people understand its multitude of benefits.
Doug: I wish people knew that PPLI has all of the positive attributes of conventional insurance but also the flexibility to completely customize based on individual needs and objectives.
Jonathan: I started my career as an internal wholesaler at Penn Mutual. I learned valuable sales skills and technical knowledge. From there I worked at an RIA doing comprehensive financial planning. I always enjoyed working with clients on their personal needs, so the development from insurance to wealth management was natural for me. While getting an MBA, I joined Gerrard Advisors where I instantly knew it would be a success. I could leverage my past experience and future ambitions to grow into the professional I always wanted to become. I also cherish the opportunity to work alongside my father. It is a lifelong dream.
Doug: I started my career as a trader on the floor of the Chicago Mercantile exchange. I was convinced by a lifelong friend who happened to also be my insurance agent to give the industry a try. He felt that I would be successful and find the work fulfilling. He was absolutely right. As I built my second career as an insurance professional, I saw the inexorable link between tax and financial planning and the products I was marketing. That led me to start Gerrard Advisors as a vertically integrated advisory firm.
Jonathan: I do not watch much TV…but deferring to my father.
Doug: Ray Donovan, Sopranos, Emily in Paris
