Global Excellence 2020

200 Acquisition International - Global Excellence 2020 1 Acquisit on International - Issue 7 2020 Jan20091 Once in a Lifetime In the circles of global affluent wealth-holders, Private Placement Life Insurance (PPLI) has become synonymous with powerful tax, protection and privacy benefits. When it comes to finding Best of Class advisor for advanced PPLI solutions, the firm that you select should be one that is independent, and whose focus is exclusively on meeting your needs. It should have a deep legal bench with decades of experience in tax, wealth protection and risk management. It’s a business where every detail must be tended to with precision and care. The team at Private Risk Capital Development Advisors, LLC, or PrivateRisk, have made it their business to be exceptional, an achievement acknowledged as they receive the award for Best Independent PPLI Solutions Provider 2020 - New York in this year’s Global Excellence Awards. In this issue of Acquisition International, we profile the firm to find out more. EO Brad Barros co-founded the company with several of the industry’s most widely respected professionals. Their aim was to create impactful bespoke solutions for high net worth clients and their families as an alternative to the cookie-cutter PPLI products that aremass marketed by commissioned agents and brokers. The success of the company is self-evident, with the business taking on a global aspect when it comes to the design, formation and ongoing support of bespoke PPLI strategies. Starting with a consultative approach, the experts at PrivateRisk have earned the trust of hundreds of high net worth clients and their advisors throughout the US and around the world. A team of independent advisors was brought together to create the nucleus of the business. Heralding from Los Angeles, New York and Zurich, each was selected for their formidable knowledge and expertise in the use of advanced life insurance strategies to solve complex income tax and estate planning challenges. Ultra-wealthy clients will often bring their own wealth advisors to a project. The PrivateRisk team was specifically formed to support its client’s other advisors. Their focus is consultative and additive in order to amplify each client’s capabilities. PrivateRisk’s impact is reminiscent of the old adage from BASF; “We don’t make the colors; we make the colors brighter.” Making the colors brighter involves exploring more deeply the ways in which clients are adversely impacted by a variety of risks, including excessive taxation and litigation, a lack of efficient access to capital and lack of compliant privacy. Over time, the PrivateRisk team has developed effective and compliant solutions to these challenges. Specializing in the protection of privately held wealth, they have helped pioneer the integration of business holdings, real estate, artwork, intellectual property and other privately-owned investments, and publicly traded portfolios with highly customized and compliant PPLI structures. In the US and numerous other countries, their individually curated insurance policy designs enjoy the same tax, protection and legal privacy advantages as traditional life insurance, including tax advantaged growth on policy earnings, tax free access to the policy cash value through withdrawals and low-cost loans, and tax-free death benefits. Of course, the attributes of each policy are entirely dependent on its design and the domicile of the policy owner. The planning team at PrivateRisk often assists clients who live in one part C of the world, with family and business interests in other parts of the globe. Their ability to develop solutions for complex multi-national and multi-jurisdictional challenges, while meeting the day to day conventional needs of entrepreneurs working on Main Street (or Wall Street) USA is rarely found. Their proprietary approach also differs by its commission-free status, as well as the menu of investments inside the policy cash value not being limited by the issuing life insurance company’s portfolio. The lack of commission is incredibly important to the team at PrivateRisk. It further separates them from brokers. PrivateRisk does not manage client assets and they do not hold client funds in custody. Their independence is crucial, not only to the firm’s business model, but to the team’s ability to continue delivering exceptional results to clients at a lower cost. Free to be thoroughly creative, the solutions developed by the creative legal team behind PrivateRisk are engineered to serve the interests of their clients, first and foremost. PrivateRisk’s clients hail from many backgrounds. Over the years its team members have assisted family offices, hedge fund owners and managers, unicorn investors, private equity funds, entrepreneurs, real-estate investors and operators, professional athletes, musicians, artists, medical service providers, and other wealth holders in the US and across the globe. Ensuring that each and every one of their clients receives the customized support they need to achieve their objectives is key to the company’s success and is why the team has collectively managed to protect billions of dollars of wealth in the US and around the world. The importance of a world-class staff to support this multi-faceted business cannot be overstated, and it’s a credit to them that they have managed to win this award in New York when put against companies such as Goldman Sachs and Blackstone. While the bespoke approach is a core component of company, the secret-sauce of PrivateRisk’s success comes through integrating its expert team of legal, actuarial, accounting and risk management specialists with the overall planning objectives of each client. As with a golfer and a set of golf clubs, in time a client may need all the clubs in his or her golf bag - but doesn’t use them all at once. Working as a cohesive team that fully understands needs of each of its clients further ensures that everyone is in the same boat and rowing in the same direction with the client’s GPS points as the only goals. Best Independent PPLI Solutions Provider 2020 - New York