Greenwich, CT (PRWEB) June 20, 2013
Today, Jonathan Feldman of erstwhile Millennium Drilling and well-known investors from Greenwich, CT, spoke out strongly in favor of increasing transparency and reducing the number of middlemen in private placement life insurance. Jonathan Feldman, who owned Patriot Exploration, is currently into real estate investment and investing in private placement life insurance.
“There’s no doubt,” said Feldman, “that PPLI is one of the greatest investment products out there for those who want to protect their money from unnecessary taxation and leave it for future generations. However, even though PPLI is almost always custom-made, only if you scrape off the middlemen, there are huge savings and deferrals to be had, but you have to be careful how you go about it.”
The sentiments do not belong only to Feldman, of course, according to the latest annual study of Boston Consulting Group, http://online.wsj.com/article/SB10001424127887323728204578515232654459950.html?mod=WSJ_WealthAdviser_WhatsNews_3_3_Left even though private wealth grew faster in 2012 than in 2010 and 2011, while business regulations have grown more complex, rich clients are demanding more transparency. The Wall Street Journal reported on May 31, on “Wealth Manager” that according to BCG’s report, the wealthy are reducing the discretionary control of advisers, and also have become wary of high-margin investment products.
So, Feldman, who is deeply into investing in PPLI as one of the most favored instruments to insulate riches and inheritance from taxation, feels the presence of middlemen burdensome. “Traditionally,” says Feldman, “middlemen in any industry play a vital role and bring a wealth of knowledge and experience to the table. However, with financial regulations multiplying by the day, we have those middlemen who are still in the dark ages, and on the other side we have those who know so much that they find themselves losing control.”
Feldman is optimistic that things will sort themselves out in the private placement life insurance sector within a few years, as far as the trouble with middlemen expertise and value is considered, “but,” he says, “for now, in PPLI, middlemen are contributing more to preventing us from getting benefits, than facilitating things.”
Jonathan Feldman of Millennium Drilling is a well known investor from Greenwich, CT, who is currently engaged in managing and making investments in bankruptcy claims trading, real estate, assisted living facilities for the elderly, and private placements like private placement life insurance.