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Winner for the second year in a row of Best Independent PPLI Solutions Provider 2021 – New York, Private Risk offers client service that bucks the trends of its industry. Made in the USA but offering its solutions across the globe, the firm ensures its clients benefit from a personalised and friendly service that is the logical choice when it comes to protecting high income assets.

With a focus on serving its clients’ interests, Private Risk Capital Development Advisors LLC, or Private Risk, is an independent firm. This independence forms a large part of the identity it has forged within its industry, being a global consulting firm that specializes in the design, formation, and administration of its services. These offerings include Private Placement Life Insurance and Private Placement Annuity based solutions, with the reliability and efficacy of both having secured significant good will and trust amongst leading national and global law firms who serve as referral sources. To serve this market, Private Risk has developed a team of experts, each of whom is exemplary in their specialties of tax, insurance and asset protection law, private equity formations, actuarial science, accounting, risk management, and oversight. This top-of-the-class team has collectively aided its clientele in protecting their financial wellbeing. This has made Private Risk the guardian of wealth for some of the wealthiest families in the US; and through private-placement insurance-based structures, it is one of the best at doing so.

Its clientele is part of a hugely diverse and incredibly dynamic market that Private Risk caters to. Represented amongst those who contract its services are family offices, hedge fund owners, tech start-ups, private equity funds, professional athletes, musicians, artists, hospitals, medical centres, and other wealth-holding persons and institutions. Private Risk’s PPLI and PPA plans both have enjoyed glowing reviews, including word of mouth testimonials from users that have bolstered its client base even further. It has been hailed as ‘uniquely innovative’ in its operational model, specifically in how it helps not just to protect wealth, but to build it whilst also keeping to a strict and rigorous code of conduct.

Throughout its work, it adheres to the United States Internal Revenue Code and the National Association of Insurance Commissioners. Not only does this reassure its clientele that they are getting the best services in line with the strictest standards, it ensures a flawless internal mechanism with state-of-the-art processes. Staff work hard to tailor their plans to be flexible and unscrupulous when it comes to insurance protection, as well as all other elements of its service. Its focus on efficiency and cost savings are far harder to achieve through traditional planning such as through the solutions its competitors offer. This allows it to cement itself as a front-runner of unique and truly modern ideas in its industry, giving it an edge over the other leading companies in its field.

Part of Private Risk’s appeal to its global affluent client base is its ability to keep close track of developments and changes. This is so often governed by market trends and legislation, both of which can alter the terrain; but life insurance in general has been undergoing a far more slow and gradual evolutionary process. Much of the most impactful changes within the sector have been towards designing solutions for ultra-high-net-worth clients, a relatively new demographic given the over 200-year lifespan of the sector in the macro scale. Most companies and entities offering life insurance copy from others, forming a culture of one business’s innovation being incorporated into the wider industry, and one where those who do come up with these successful measures thrive. This is where Private Risk shines. It has developed its bespoke PPLI and PPA planning solutions to be two such measures, making them creative, unique, and effective to serve this element of the market. Consequentially, its high-net-worth families and individuals benefit from the methodologies Private Risk has introduced to cater to them specifically, putting Private Risk in an excellent position to access more areas of the market.

It works closely with its clients and their advisory teams when it is developing custom-curated solutions. In this way, it can offer them an individually designed service that considers even the most minute detail, ensuring that each case receives the diligence needed to make its solution exemplary. In this way, it secures itself as fundamentally different from other financial planning, brokerage, and insurance sales organizations. It prides itself on its collaborative model, completely rejecting the usual trend in its industry of competing with its clients’ advisors. Private Risk finds this attitude unhelpful at best and counterintuitive at worst; instead, thinking of itself as a consultancy service that will forge a close working partnership with its clients and their team. This helps them to arrive at the best solution for each client’s needs, ensuring successful long-term outcomes. Therefore, its operation focuses on protecting and amplifying the capabilities of its clients and their management team instead of competing over resources or investments, holding to the adage of “we don’t make the colours, we make the colours brighter.”

Another principle that it prides itself on is its self-dependence. This is a strength that allows it to work unbeholden to insurance companies and any semblance of an insurance broker attitude. This lets it skirt around any bias and inherent contradiction, keeping the focus on the client and the relationship it can form with them instead of worrying about compensation. The inherent originality of its business model also allows it a significant degree of creative freedom. In forging its priorities out of the conception, formation, integration, and oversight of a client’s PPLI solution through bespoke policy, it can adapt and alter things as needed. This allows it the flexibility to react to client needs at every stage of the process. Furthermore, its team are amongst the most qualified in the world to do this effectively, with each member being a wealth of knowledge and experience.

Thanks to the tailored nature of its services and plans, Private Risk’s team designs PPLI policies to be structurally rigorous. ‘We are not myopic in our vision’, Private Risk told us, and it strives to reassure its clients in this way. Therefore, nothing in the plan it develops is arbitrary. By using such a streamlined methodology and being rid of anything that may bloat it, it can cut through any unnecessary elements and only offer what is relevant. This intimate knowledge with every aspect of its industry also allows it to handle challenges with sophistication. When hurdles arise, such as a client being in urgent need of capital or needing to meet when past advisors would tell a client it was an impossible task, Private Risk will often exceed expectations and succeed. This even extends as far as obtaining insurance protection for things deemed impossible to insure. Between its experience, its unique approach, and its dedication to each client on an individual level, Private Risk rejects the word ‘impossible’ in its vocabulary.

For more information contact Stacey Milner at Private Risk Capital Development Advisors LLC via