The Mariner Academy Online Courses were designed to provide wealth teams with foundational and technical training of wealth management concepts. The content is divided into Core Training and Specialized Knowledge Training.
Within each category, the training also includes client engagement sessions that provide instruction on how to engage clients on the topic. The Core Training material aligns with the CFP Board financial planning curriculum and is designed for client service associates and wealth advisors earlier in their career, or anyone desiring a foundational understanding of the core financial planning topics. The Specialized Knowledge Training is designed for experienced wealth advisors and senior wealth advisors to enhance their knowledge of advanced financial planning topics.
The content for the curriculum is provided by Mariner Wealth Advisors working in conjunction with Greene Consulting Associates, LLC and many of the courses are eligible for CFP® CE credits. The number of hours available for CE credit can be found after each course description. Because the cost of each course is covered by the company, associates are asked to follow through in completing the course work in which they have enrolled.
A comprehensive list, descriptions of the courses and enrollment instructions can be found below.
Core Track Catalog
SET TO DISPLAY NONE
- High yield bonds, also known as “Junk Bonds” are the debt instruments of companies with below investment grade credit ratings (i.e., rated below BBB- or Baa3 by an established national credit rating agency)
- In addition to credit risk, high yield bonds also exhibit interest rate (duration) risk, liquidity risk, and reinvestment risk
- High yield bonds typically trade at a yield “spread” over a reference security (usually a comparable maturity U.S. treasury security). This spread is considered an investor’s compensation for the additional credit risk and additional price volatility
- Relative spread levels are often considered an indication of the market’s outlook for credit and of the relative attraction of high yield debt
Financial Planning
The Personal Financial Planning Process
Comprehensive financial planning is a process, not a single transaction. Throughout this process, relationships are cultivated in order to fully address a client’s specific needs. Therefore, the planner must treat each client on an individual basis, being careful not to map a plan based on the planner’s objectives, but on the clients. Success is achieved only when the client gets what they are looking for. Remember that what may be desirable for one client, might not be for another. The financial planning process can literally transform your rapport with your client from transactional to a true relationship.
Key learning topics include:
- The Benefits of Personal Financial Planning
- The Personal Financial Planning Process
- The Key Elements of Each State of the Financial Planning Process
- Best Practices for Engaging Clients in Each Stage of the Financial Planning Process
Protection Planning
- Viewing insurance as a financial tool, not as a “product”
- The key stages of the personal financial lifecycle
- Identifying financial needs and optimal insurance solutions for people in different stages of their lifecycles
- Overview of the range of personal insurance solutions
- Term Life Insurance
- Permanent Life Insurance
- Traditional Whole Life
- Universal Life
- Variable Life
- Variable Universal Life
- Endowment Life
- Common modifications and coverage options
- Common Riders
- Disability Insurance
- Sick Leave Plans
- Short-Term Disability Plans
- Long-Term Disability Plans
- The various considerations related to different policy structures
- Taxation of Benefits
- Business human capital risks
- Business insurance solutions
- Deferred Compensation
- Split-Dollar
- Key Person Life
- Key Person Disability
- Buy-Sell Agreements
Education Planning
- Identifying the future cost of education
- A comparison of the typical alternatives for funding college expenses
- Private Savings Accounts
- Custodial Accounts (UGMA, UTMA)
- Coverdell Education Savings Accounts
- Qualified tuition programs (Section 529)
- Use of qualified retirement plans for education
- Investments
- U.S. Savings Bonds (Zero Coupon Bond)
- Lifetime Learning Credit
- Student Loan Interest Deduction
- The advantages of 529 Plans
- The types of 529 Plans available today
Investment planning
- Different types of risk and effectively setting client risk tolerances
- Expected return, risks and volatility of different asset classes
- Common strategies to reduce risk
- The effect of time on portfolios
- Communicating the benefits of diversification
- The Capital Asset Pricing Model
- Alpha, beta and other statistical measures important to understanding practical asset allocation theory
- Modern Portfolio Theory and Mean Variance Optimization as the basis for modern asset allocation theory
- Shortcomings of Mean Variance Optimization
- Monte Carlo Analysis and its use in investment planning
- Strategic and tactical asset allocation decisions
- The investment planning process
- Common problems in investment planning
Retirement Planning
- Motivating clients to commit to a retirement plan
- Social Security Benefits
- Retirement Benefits
- Early Retirement Benefits
- Delayed Retirement Credit
- Retirement Earnings Limit
- Survivor Benefits
- Individual Retirement Accounts
- Traditional and Roth IRAs
- IRAs started by employers
- SEP and Simple IRAs
- Withdrawals from IRAs
- Types of Qualified Plans
- Defined Benefit (including Personal Defined Benefits Plans)
- Defined Contribution
- Distributions from Qualified Plans
- Tax-exempt organization arrangements and governmental plans
- Charitable Trusts Continuing Education Credits
- Managing Distributions
- IRAs
- Qualified Plans
- Annuities (including Qualified Longevity Annuity Contracts)
- Other Retirement Plans
- Stock Options
- Social Security Retirement Benefits
- Minimizing Income Tax in Retirement
- Estate/Beneficiary Distribution Planning
Wealth Transfer Planning
- Estate and Gift Taxes
- Applicable Credit and Applicable Exclusion Amount
- Annual Gift Tax Exclusion
- Gift Splitting
- Gift Tax Exclusions for tuition and medical care
- Unlimited Marital Deduction
- Portability of the Deceased Spousal Unused Exclusion Amount
- General understanding of the GST tax structure
- State death taxes
- Identifying the Gross Estate
- Implications of Joint Property
- Decedent’s 1041
- Charitable income tax deductions
- Income in Respect of a Decedent
- Step-up in basis at death
- Impact of Tax Relief Act of 2012
- The basic vocabulary of trusts and estates
- The different types of trusts and how they work
- Basic features that make trust solutions beneficial
- Common situations where trusts have application
- An overview of the estate planning process
- Explanation and demonstration of fundamental estate planning techniques, such as:
- The Credit Shelter [Applicable Exclusion] Trust
- Marital Trusts
- Gifting Strategies
- Interactive case studies to help participants understand the estate planning process as opposed to merely memorizing facts
- Advanced trust planning for specific needs:
- Charitable Remainder Trusts
- Charitable Lead Trusts
- Grantor Retained Trusts
- Irrevocable Life Insurance Trusts
- Impact of the Tax Relief Act of 2012 on estate planning
- What is a trust?
- Who is involved in a trust?
- Powers of grantors, trustees, and beneficiaries
- Types of trusts
- Basic terminology of trusts and trust documents
- How to read a trust document
- General benefits of trusts
- Benefits of corporate trustees
- Duties of the trustee
- How to manage the risks of acting as trustee
Core Track Engagement Modules
Specialized Track Catalog
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- High yield bonds, also known as “Junk Bonds” are the debt instruments of companies with below investment grade credit ratings (i.e., rated below BBB- or Baa3 by an established national credit rating agency)
- In addition to credit risk, high yield bonds also exhibit interest rate (duration) risk, liquidity risk, and reinvestment risk
- High yield bonds typically trade at a yield “spread” over a reference security (usually a comparable maturity U.S. treasury security). This spread is considered an investor’s compensation for the additional credit risk and additional price volatility
- Relative spread levels are often considered an indication of the market’s outlook for credit and of the relative attraction of high yield debt
Investment Planning
- The Consultant/Financial Advisor as a Co-fiduciary
- Asset Allocation and Performance Measurement
- Monitoring the portfolio
- Performance attribution analysis
- Establishing effective performance benchmarks
- Calculating and analyzing performance returns
- Quantifying portfolio risk
- Establishing appropriate parameters for manager selection and termination
- Effective portfolio rebalancing protocols
The Credit Shelter [Applicable Exclusion] Trust
- Defining the role of an Investment Fiduciary and the implications of that role
- The fundamental components required to establish an effective Investment Policy Statement
- An overview of the components of the IPS document
- Key factors that should be included in an IPS, particularly for a high net worth person or family
- Tactical strategies that can be used to effectively communicate and develop the Investment Policy Statement with clients
- Establishing a strong foundation for the management of the assets entrusted to your care
- Defining the role of an Investment Fiduciary and the implications of that role
- The fundamental components required to establish an effective Investment Policy Statement
- An overview of the components of the IPS document
- Key factors that should be included in an IPS, particularly for a high net worth person or family
- Tactical strategies that can be used to effectively communicate and develop the Investment Policy Statement with clients
- Establishing a strong foundation for the management of the assets entrusted to your care
Wealth transfer planning
Irrevocable Life Insurance Trusts
This course is focused on developing an in-depth understanding of the purpose, structure, and features of Irrevocable Life Insurance Trusts. The course provides analysis and discussion of potential risks and issues that an advisor should highlight when a client is considering this wealth replacement and transfer strategy. Recommended Prerequisites: Transfer Taxation I, II and III; Understanding Trusts and Trust Documents; Application of Estate Planning Concepts; and Life Insurance.
Key topics include:
- Problems associated with insurance ownership
- Impact of gifting policies vs. cash
- Purpose and structure of the Irrevocable Life Insurance Trust (ILIT)
- Why the ILIT is a better solution than transferring insurance to another individual
- How premiums are paid in an ILIT
- The present interest requirement of transfers
- Crummey powers
- Considerations in structuring the trust
- Considerations in acting as trustee
Strategies for Managing Generation Skipping Transfer Taxes
This course is designed to provide financial services advisors and trust administrators with in-depth knowledge of Generation Skipping Transfer (GST) taxes and the strategies they need to adequately plan for and manage GST taxes. Developed in partnership with Georgia J. White, a highly-regarded expert on the subject who has many years of practical experience, this course makes extensive use of case studies to help advisors learn practical strategies to help clients anticipate and minimize the tax impact of such transfers and teach administrators sound practices for administering those trusts that are currently or potentially subject to GST taxes. Recommended prerequisite: Transfer Taxation: Part Three –GST and Income Taxes.
Key topics include:
- Application of the GST exemption and GST exclusions
- Identification of the transferor and skip persons
- The Deceased Parent Exception
- How to Identify current and potential GST trusts
- Calculating the trust’s Inclusion Ratio
- GST impact on tax basis
- Strategies for structuring GST bequests
- Planning for the effect of taxable distributions and terminations
- Identifying the liability for filing and paying GST taxes
- Understanding GST tax returns
- Administration considerations for GST trusts
- Pre-death and post-death strategies for managing GST taxes
- Common pitfalls to avoid
Charitable Gifting Techniques
This course is focused on providing financial services professionals with the understanding of the various alternatives available to help high net worth clients fulfill their charitable intentions. It provides an in-depth analysis of the estate, gift, and income tax treatment of charitable gifts and the use of trusts to make it easier and more effective to make charitable gifts while alive. Recommended Prerequisite: Transfer Taxation I, II and III; Understanding Trusts and Trust Documents; and Application of Estate Planning Concepts.
Key topics include:
- Tax benefit of lifetime charitable gifts
- Income tax deductibility of different types of property
- Income tax deductibility limits
- Gifts of future interest
- Charitable Remainder Trusts (CRAT, CRUT, NICRUT, NIMCRUT)
- Combining an Irrevocable Life Insurance Trust with a Charitable Remainder Trust
- Pooled income funds
- Charitable Lead Trusts (CLAT, CLUT)
Dynasty Trusts
Faced with the prospect that accumulated wealth will be taxed each time it is transferred to the next generation, many people seek to create “Dynasty Trusts” that will provide benefits for each successive generation, while avoiding or minimizing the impact of transfer taxes. Their ability to succeed in this endeavor will depend upon how they address a number of issues, including the terms of the trust and the laws of the state in which it is domiciled. This course provides an examination of such issues, while giving practical insights into how they may be addressed.
Key topics include:
- The nature, purpose, and benefits of Dynasty Trusts
- The legal limitations placed on the duration of Irrevocable Trusts
- Estate, Gift, and Generation
- Skipping Transfer Tax (GSTT) issues associated with Dynasty Trusts
- Client profile
- Investment considerations regarding the funding of Dynasty Trusts
- The use of life insurance in funding Dynasty Trusts
- Trust document considerations
- Case studies
Private Foundations
This course provides an understanding of the structure, rules, and operation of private foundations, as well as practical benefits and applications for advising high net worth clients. It goes beyond mere knowledge about private foundations to include such practical skills as how to identify clients for whom a private foundation makes sense, tips on how to guide clients through pivotal decisions that must be made when creating a private foundation, and the steps involved in actually creating a private foundation. By completing the course, participants will acquire the skills necessary to advise high net worth clients with charitable inclinations on a lifetime strategy that not only gives them the pleasure of fulfilling their charitable intent while alive, but also provides significant financial benefits for themselves and their heirs.
This course was developed by Greene Consulting Associates, LLC in partnership with Roger D. Silk, Ph.D., CFA, who served as the subject matter expert for this course. Dr. Silk is CEO of Sterling Foundation Management, LLC, a firm specializing in the administration and management of private foundations
Asset Protection Planning
This course equips advisors with the knowledge and skills necessary to advise affluent clients regarding the liability-related financial risks faced in our litigious legal environment. The course has been structured to provide advisors with effective strategies for identifying opportunities to protect a significant portion of client net worth from excessive liability judgments. Specifically, this course will answer questions surrounding the identification of legal liability threats, selection of appropriate asset protection strategies, and communication of those strategies to clients.
Key topics include:
- Elements of an effective asset protection plan
- Foundations of property ownership
- Types of property ownership
- Forms of property ownership
- Family Limited Partnerships
- Limited Liability Companies
- Asset Protection Trusts
- Exempt property
- Liability insurance
- Building an effective asset protection plan
Application of Estate Planning Concepts
Through a case study methodology, this course teaches the fundamentals of estate planning. Principles and techniques are taught that have immediate utility for current clients and prospects. Participants learn how to analyze the most common estate planning situations, how to identify the estate tax exposure, and how to utilize techniques that achieve client goals while minimizing taxes. Participants are also provided with illustrations that can facilitate communication of the estate planning process to clients. Recommended Prerequisite: Transfer Taxation I, II and III; Wills, Estates and the Probate Process; Joint Property; and Understanding Trusts and Trust Documents.
Key topics include:
- Defining estate planning and how it is conducted
- Estimating potential tax exposure
- How to utilize credits, deductions, and exclusions to minimize estate taxes
- Impact of the 2012 Tax Relief Act
- Portability of the Deceased Spousal Unused Exclusion Amount
- Applicable Exclusion Trusts (Credit Shelter Trusts)
- General POA Marital Trusts
- QTIP Marital Trusts
- QDOT Trusts
- Durable Power of Attorney
- Living Wills
- Protecting against incapacity
- Utilization of joint property in estate planning
- Gifting strategies
- Rules of thumb for gifting programs
Retirement Planning
Nonqualified Executive Retirement Benefits
For many clients, their employer-sponsored nonqualified retirement and incentive plans represent a significant portion of actual or potential retirement income. Financial professionals need to be capable of helping clients make efficient use of these tax-advantaged plans, both while they are accumulating funds as well as when it is time to determine how and when withdrawals from the plan(s) should be made. This course reviews the plans primarily from the perspective of the employee-participant, although some understanding of the employer’s perspective is included to add to enhance understanding of qualified and nonqualified plan characteristics.
Key topics include:
- The characteristics of each type of plan and their potential as accumulation vehicles
- Investment characteristics and investment risk responsibility of plan assets
- The basic rules that govern contributions
- The taxability of contributions and earnings
- The advantages and disadvantages of each type of plan
Planning for IRA Required Minimum Distributions
On January 12, 2001, the IRS dramatically changed the complex rules governing Required Minimum Distributions (RMD), changing the calculation methodology and alternatives, which thereby altered the planning tactics for individuals with significant IRA balances. The results of not complying with the regulations are stiff penalties, minimally 50% of any underpayment of distributions required. This course provides a detailed look at the newly proposed legislation, yielding a greater understanding of the rules governing Required Minimum Distributions (also called Minimum Required Distributions) from these IRAs and other qualified plans.
Key topics include:
- Understanding the important terminology related to the Required Minimum Distribution (RMD) and its calculation
- A review of the “old” rules that still have significance for the remainder of 2001
- The new rules pertaining to RMDs
- The various options available in naming a designated beneficiary and the planning implications of each choice
- Various planning strategies that can be considered when seeking to extend the life of an IRA
- Specific types of clients that need to be contacted regarding new alternatives that could enhance their situation as it relates to the new legislation
Planning for After-Death IRA Distributions
This course examines the rules regarding IRA distributions and provides insight into the alternatives available to investors regarding the distribution of their IRA assets upon death.
Key topics include:
- The IRA regulations as they relate to distributions from IRAs and similar plans
- Issues that need to be considered when choosing a designated beneficiary for an IRA
- The impact of the distribution rules when the IRA owner dies before reaching their Required Beginning Date
- The alternatives for distribution of the IRA balances when the owner dies after reaching the Required Beginning Date
- Various planning strategies that can be considered when seeking to extend the life of an IRA
- Tactics that should be considered when attempting to integrate the IRA into the estate plan
- Calling strategies for current clients regarding their IRA planning under the distribution rules
Protection Planning
Fundamentals of Disability Income Insurance
In this course, we will address this risk management issue of long-term disability by investigating the following factors:
- Define the risks of long-term disability.
- Discuss the possible options to alleviate the risks.
- Review and analyze the insurance options that are available to alleviate the risks.
- Use a 4-step process to determine the need for disability income insurance.
- Break the marketplace into three strategic segments based on the varied nature of risk characteristics and possible solutions.
- Discuss the appropriate application of disability insurance coverages by reviewing case studies.
- Help clients take actions to resolve their exposure to a substantial financial risk.
Long-Term Care Insurance
In this course, we address a risk management issue that represents a potential financial expense of significant magnitude to any client: Long-Term Care. We will address this risk management issue by investigating the following factors:
- The risks of long-term care
- The possible options to alleviate the risks
- Long-Term Care Insurance as an option to alleviate the risks
- Case Studies: Application of Long-term Care Insurance coverages
Income Tax Planning
Fiduciary Income Taxation and Planning Series – Part 1
This is the first of two courses, which together provide an in-depth understanding of the income taxation of trusts and estates. Developed in partnership with Georgia J. White, a highly-regarded expert on the subject who has many years of practical experience, this course provides a foundational overview, first explaining the differences in treatment of grantor trusts, irrevocable trusts, and estates; then examining the types of income reported and deductions available on the 1041 return.
Taken by itself, this course may be sufficient for those seeking a general understanding of fiduciary income taxation. For those seeking an in- depth understanding, this course is prerequisite to taking the more detailed study and planning strategies presented in Part 2.
Key topics include:
- Relevant terminology
- Special rules for Grantor Trusts
- The differences between Simple and Complex Trusts
- Selection of tax years
- Tax return filing and payment requirements
- Exemptions to fiduciary income taxes
- Types of income reportable on the 1041 return
- Available deductions on the 1041 return
- State taxation
- Current income tax rate schedules for estates and trusts
Fiduciary Income Taxation and Planning Series – Part 2
This course builds upon the study of fiduciary income taxation that was begun in Part 1. Attention is given to the complex mechanics of fiduciary income taxation, explaining in detail such concepts as Income in Respect of a Decedent (IRD) and Distributable Net Income (DNI). In addition to learning the structure, forms, and rules of fiduciary income taxation, participants also learn advanced strategies for managing and minimizing those taxes. Developed in partnership with Georgia J. White, a highly-regarded expert on the subject who has many years of practical experience, this course is best suited for professionals who either manage fiduciary accounts or deal directly with clients of such accounts. Its primary goal is to help professionals understand the tax implications of the actions they initiate or in which they participate. This course should not be taken without first taking Fiduciary Income Taxation and Planning Strategies – Part 1.
Key topics include:
- Optimization of the selection of tax years
- The difference between Trust Accounting Income and Distributable Net Income
- Various formulas that modify taxable income and deductions, such as:
- Income in Respect of a Decedent (IRD)
- Deductions in Respect of a Decedent (DRD)
- Distributable Net Income (DNI)
- Income Distribution Deduction (IDD)
- Allocation of expenses attributable to taxable and tax-exempt income
- Accumulation distributions and Throwback Rules
- Alternative Minimum Tax
- The 1041 tax return and various schedules
- Reporting requirements to beneficiaries
- How beneficiaries are taxed
- Advanced income tax planning strategies
CFP 1.0 hour
Identifying Planning Opportunities in a Client’s 1040 – Knowledge for the Real World
Individual federal income tax returns provide a vast array of information. This course provides practical training on how to use an individual’s tax return as a primary resource for gathering client information that will reveal planning needs. By going through an income tax return and focusing on specific lines, the course explains the significance of those lines in identifying planning needs. For needs that have been identified, the course also provides guidance on how to present those needs with clients, giving particular focus on how to help clients become aware of their need and feel prepared to address those needs.
Key topics include:
- How to review a client’s federal income tax return to identify planning needs
- Identification of specific lines on the tax return and attached forms where you should mine for information
- Questions you should ask to get additional information to clarify the nature and scope of planning needs
- Open-ended questions to ask that will help clients become aware of their needs and the necessity for taking corrective actions
CFP 1.0 hour
Transfer Taxation: Part One – Common Elements of Estate and Gift Taxes
An understanding of the tax system is critical to the comprehension of the estate planning process. Because of the scope of material, the training on tax issues relevant to the estate planning process is covered in three courses. This first course presents the history of transfer taxation and the fundamental elements that are common to both gift taxes and estate taxes.
The second course covers those characteristics that are unique to gift taxes and estate taxes, with the third course covering Generation-Skipping Transfer (GST) taxes and specific aspects of income taxation that are relevant to estate planning. The material in this course, along with the other two in the series, should be considered as prerequisite to any study of estate planning techniques.
Key topics include:
- The history of the development of transfer taxes in the United States
- The structure of the estate and gift tax system
- Identifying the common elements of estate and gift taxes such as:
-
- The Unified Transfer Tax Rate Schedule
- The Applicable Credit and Applicable Exclusion Amounts
- The Unlimited Marital Deduction
- Portability of the Deceased Spousal Unused Exclusion Amount
- Charitable Deductions
- Estimating an estate’s tax exposure
- Understanding the mechanics of the Applicable Exclusion Amount and Applicable Credit Amount
- The impact of the 2010 and 2012 Tax Relief Acts on transfer taxation
CFP 1.5 hours
Transfer Taxation: Part Two – Common Elements of Estate and Gift Taxes
This course is part of a three-course series on elements of taxation that are relevant to estate planning. The first course examines the history of transfer taxes and the fundamental elements that are shared by both estate and gift taxes. This course builds upon the first by examining what is unique about the taxation of estates and the taxation of gifts. The third course, which concludes this series, examines Generation-Skipping Transfer (GST) taxes and specific elements of income taxes that are relevant to estate planning. The material in this course, along with the other two in the series, should be considered as prerequisite to any study of estate planning techniques.
Key topics include:
- Distinguishing between the probate estate and the taxable estate
- Identifying assets that encompass the probate estate
- Valuing estate assets
- Identifying what constitutes a gift
- Utilizing the annual gift tax exclusion
- The gift tax exclusions for tuition
- The gift tax exclusions for medical care
- Understanding how the estate and gift tax are calculated and how to estimate the potential transfer tax exposure
- Recent changes brought about by the Tax Relief Acts of 2010 and 2012
- The tax-inclusive nature of estate taxes vs. the tax-exclusive nature of gift taxes
CFP 1.5 hours
Transfer Taxation: Part Three – GST and Income Taxes
This course is part of a three-course series on elements of taxation that are relevant to estate planning. The first two courses examined estate and gift taxes. This course completes the study of transfer taxes by examining Generation Skipping Transfer (GST) taxes. In addition, it addresses certain aspects of income taxation that are relevant to estate planning. The material in this course, along with the other two in the series, should be considered as prerequisite to any study of estate planning techniques.
Key topics include:
- Identifying skip persons
- The impact of predeceased parents
- Identifying events that can potentially trigger a GST tax
- The lifetime GST exemption
- How the GST exemption and tax rates will change in coming years
- Repeal of the GST tax in 2010 and its subsequent return
- The impact of the “Kiddie Tax” on transfers to minors
- Charitable income tax deductions
- The basis increase of property upon death
- Changes from the Tax Relief Acts of 2010 and 2012
Business Owner Planning
There are many situations where business valuation is required, such as estate planning, estate settlement, business continuation and succession planning, etc. This course provides understanding of the methods and issues of business valuation to equip financial professionals to provide more meaningful and comprehensive assistance to clients as they make their plans.
Key topics include:
- WHY business valuations are needed by businesses on a regular basis
- WHO is properly equipped to perform the process of business valuation
- WHAT METHODS are used to calculate or determine business values:
- The Asset-Based Approach
- The Income Approach
- The Market Approach
- Hybrid Formulas
- WHAT FACTORS influence the valuation of a business:
- IRS Business Valuation Guidelines
- Adjustments to Asset-Based and Income Approach Calculations
- Discounts to Business Value
Business Continuation Planning
Business Continuation Plans are developed to plan for risks that can threaten business continuity. Many types of risk can be addressed in a Business Continuation Plan. It may address natural disasters, fire, or lawsuits. In this course, however, the focus is upon how business continuation planning can address the risks associated with owners and key employees. These risks are referred to as The Four D’s: Disability, Death, Departure, and Divorce. The goal of the course is to provide the financial professional with the knowledge needed to effectively assist clients as they seek to address these risks in their own businesses.
Key topics include:
- The types of risks that threaten business continuity
- The Business Continuation Plan
- Types of Buy-Sell Agreements
- Key elements of Buy-Sell Agreements
- Methods for identifying the transaction price in a Buy-Sell Agreement
- Funding strategies for the Business Continuation Plan
- Specific strategies for planning for The Four D’s
Business Succession Planning
This course addresses the need for Business Succession planning and strategies that may be employed to plan for the departure of an owner and the selection and grooming of a successor. Particular attention is given to the transfer of business ownership to the successor. Various types of successors are identified (e.g., family members, employees, outside parties, etc.) and transfer techniques are identified that may be appropriate for use with each type. Particular attention is given to the considerations and techniques associated with intra-family transfers.
Key topics include:
- Identification and grooming of successors
- How different business structures impact the available succession options
- The primary succession concerns of the business owner
- The options available for transferring a business interest and considerations for each
- Specific transfer techniques, which include:
- Buy-Sell Agreements
- Installment Sales and Self-Cancelling Installment Notes
- Private Annuities
- Stock and Asset Sales
- Bargain Sales
- Family Limited Partnerships
- Recapitalizations
- Grantor-Retained Annuity Trusts
- Intentionally Defective Grantor Trusts
- Tax-Free Exchanges
- Leveraged Buyouts
- Use of Employee Stock Ownership Plans
- Use of Stock Bonus Plans
- Public Sales
- Planning for retirement Income
- Estate considerations associated with various transfer techniques
Executive Compensation Strategies for Closely Held Business Owners
This course is designed to help advisors address the needs of small business owners to build personal wealth through the creative use of tax-deferred traditional and non-traditional strategies. Specifically, this course will examine how a business owner can maximize personal wealth through these four strategies:
- Qualified Retirement Plans
- Nonqualified Deferred Compensation Plans
- “Spigot”Personal Retirement/Charitable Trust
- Income Tax Minimization
Key plans under consideration include:
- Personal Defined Benefit Plans
- Fully Insured Defined Benefit Plans
- Cash Balance Plans
- Personal 401(k) Plans
- Profit Sharing Plans
- Employee Stock Ownership Plans
- More Money to the Owner –Cross-Tested and Age-Weighted Plans
- Nonqualified Deferred Compensation
- “Spigot” Personal Retirement Trust
Each plan under consideration will be examined from the perspective of:
- Definition –What is it?
- Application –Which clients would benefit from the plan?
- How does the plan work? -Tax implication summary -Advantages and disadvantages of the plan
Strategies for Business Owners
This course is designed to help advisors address the needs of small business owners to build personal wealth through the creative use of tax-deferred traditional and non-traditional strategies. Specifically, this course will examine how a business owner can maximize personal wealth through these four strategies:
- Qualified Retirement Plans
- Nonqualified Deferred Compensation Plans
- “Spigot”Personal Retirement/Charitable Trust
- Income Tax Minimization
Key plans under consideration include:
- Personal Defined Benefit Plans
- Fully Insured Defined Benefit Plans
- Cash Balance Plans
- Personal 401(k) Plans
- Profit Sharing Plans
- Employee Stock Ownership Plans
- More Money to the Owner –Cross-Tested and Age-Weighted Plans
- Nonqualified Deferred Compensation
- “Spigot” Personal Retirement Trust
Each plan under consideration will be examined from the perspective of:
- Definition –What is it?
- Application –Which clients would benefit from the plan?
- How does the plan work? -Tax implication summary -Advantages and disadvantages of the plan
Miscellaneous Employee Benefit Plans and Fringe Benefit Plans
This course provides an overview of a broad range of non-retirement benefits provided by organizations for their employees. The material provides a fundamental overview of several types of benefits as well as their tax benefits. The course specifically examines the various types of employee benefits.
Key topics include:
- Cafeteria Plans
- Flexible Spending Accounts
- Voluntary Employee Benefit Associations
- Group Life, Health and Disability Plans
- Workers Compensation
- Unemployment Compensation
- Dependent Care Assistance Plans
- Education Assistance Plans
- Adoption Assistance Plans
- Stock Option Plans
- Bonus Plans
- Fringe Benefits
- Golden Parachute Plans
- Legal Assistance Plans
Corporate Executive Planning
This course is designed to help advisors address the needs of small business owners who must compete with large companies to attract executive talent by offering attractive executive compensation and benefit packages. Specifically, this course will examine how life insurance can be utilized to provide two types of executive benefit plans:
- Supplemental life insurance benefit plans, where survivor death benefits are provided, and
- Wealth accumulation plans, where life insurance can be used as a funding vehicle.
Key plans under consideration include:
- Section 162 Bonus Plans (Executive Bonus Plans)
- Split Dollar Plans
- Death Benefit Only Plans
- Key Employee Life Insurance
- 412(i) Retirement Plans
- 401(k) Overlay Plans
- Nonqualified Deferred Compensation Plans
Each plan under consideration will be examined from the perspective of:
- Definition – What Is It?
- How Does the Plan Work?
- When is Use of the Plan Applicable?
- When is Life Insurance Funding Appropriate?
- Tax Implication Summary
- Advantages of the Plan
- Disadvantages of the Plan
Nonqualified Executive Retirement Benefits
For many clients, their employer-sponsored nonqualified retirement and incentive plans represent a significant portion of actual or potential retirement income. Financial professionals need to be capable of helping clients make efficient use of these tax-advantaged plans, both while they are accumulating funds as well as when it is time to determine how and when withdrawals from the plan(s) should be made. This course reviews the plans primarily from the perspective of the employee-participant, although some understanding of the employer’s perspective is included to add to enhance understanding of qualified and nonqualified plan characteristics.
Key topics include:
- The characteristics of each type of plan and their potential as accumulation vehicles
- Investment characteristics and investment risk responsibility of plan assets
- The basic rules that govern contributions
- The taxability of contributions and earnings
- The advantages and disadvantages of each type of plan
Strategies for Executive Stock Options
Compensatory options are becoming an increasingly popular form of executive compensation in today’s competitive job market and most professional executives will have some form of options-based compensation. This course is devoted to understanding this form of compensation and developing an understanding of the alternatives available to the owners as they begin to think about exercising the options.
Key topics include:
- Potential tax advantages of compensatory options
- Examination of the nature, structure and characteristics of qualified and nonqualified employee stock options
- Implications for restricted stocks
- Rule 83(b) election for restricted stocks
- Tax implications of employee stock options
- Exercise strategies for maximizing potential gain, including cashless exercises, loans, and swaps
- Avoiding AMT
- Protecting large concentrations
Strategies for Managing Concentrated Wealth
Clients who have their wealth concentrated in a single asset have unique needs. Often, they are either restricted from selling their asset, face a limited market, or seek to avoid realization of the capital gains. This course analyzes various approaches to addressing their need for managing their risk, enhancing return, and effectively transferring their assets to their heirs.
Key topics include:
- Why people hold concentrations
- The systematic sale
- Borrowing against the stock
- Going short-against-the-box
- Constructive sale rules
- Variable prepaid forwards
- Tax implications of various strategies
- Exchange funds
- Equity swaps
- Use of options with concentrated wealth
- Buying puts
- Zero-cost collars
- Charitable Remainder Trusts
- Charitable Lead T rusts
- GRITS, GRA TS, GRUTS, and QPRTS
- Selecting between various concentrated wealth management alternatives
Demystifying Rule 144: Resale of Restricted and Control Securities
Many clients in the wealth market have large holdings of restricted and/or control stocks. To be in a position of advising them on how to manage the risk of their concentrated holdings, or to advise them on strategies for liquidating their holdings, one must first understand the restrictions that are placed on their sale and the “safe harbor” within which liquidation can proceed. This course is designed to meet precisely that need.
Key plans under consideration include:
- The Securities Act of 1933
- What are restricted and control stocks
- Private sales
- Overview of Rule 144
- Meeting the requirement for adequate public information
- Holding period requirements
- Trading volume limits
- Manner of sale requirements
- Filing requirements
- Removing the legend
- Rule 144 and distributions at death
- Other factors to consider, such as Rule 145 and short swing profit rules
Rule 105b5-1 Plans and Insider Trading
Many clients, especially those that are corporate executives or business owners, will be subject to various trading restrictions under the Securities Act of 1934. This course provides advisors with a clear understanding of the issues germane to affiliates and insiders owning securities in companies and provides an overview of the alternatives available for resale of those securities without violating any securities laws. The course covers the specifics of insider trading and specifically 10b5-1 Plans and systematic selling programs that can help insiders generate liquidity. The course also addresses the issue of securities received as a part of employee compensation under Rule 701.
Key topics include:
- Overview of the key aspects of the Securities Act of 1933 and Securities Act of 1934
- Defining the term “insider trading”
- Background and overview of Rule 10b5-1
- Understanding the context and need for the affirmative defenses
- Three types of affirmative defenses/safe harbors
- Systematic Selling Plans (Rule 10b5-1 Plans)
- Understanding Section 16 and Short Swing Profit restrictions
- Overview of Rule 701
- Understanding the application of Rule 701 by businesses and its limitations for those acquiring securities under Rule 701
- Navigating the resale alternatives for clients receiving securities under Rule 701
- Case study applications and exercises
Alternative Investments
This course provides a general introduction to the world of alternative investing, including hedge funds. This course initially addresses the definition of alternative investments and specifically hedge funds. With a clear definition of “alternative” investments, the course establishes quantifiable reasons that frame the rationale for using them in portfolios. The course also introduces the participant to the hedge fund industry, including the major players, the product structure, and select risks that apply to hedge fund strategies. The course concludes with a review of historical hedge fund performance based on specific portfolio outcomes and risk metrics that will be used in later courses.
Key topics include:
- The Case for Alternatives
- Understanding What Alternative Investments Can Help Clients Accomplish in Portfolio Construction
- Trends in Alternative Investing
- Overview of Hedge Fund Industry
Portfolio Considerations and Manager Evaluation
This course is focused on the statistical measures used to evaluate risk, construct portfolios, and evaluate managers. Basic measures and techniques such as standard deviation, Sharpe ratio, and Mean Variance Optimization are based on assumptions that have known limitations that can result in misapplications. The goal of this course is to ensure that participants understand these limitations when applying these statistical measures and techniques to both traditional and non-traditional investments. The monthly returns distribution is also introduced as a visual framework to understand these statistical measures and their limitations. The course concludes with an introduction to more advanced statistical measures used by institutional investors to evaluate risk, construct portfolios, and evaluate managers.
Key topics include:
- Limitations of Mean Variance Optimization (MVO)
- Understanding Asymmetrical Return Patterns and Their Impact on Traditional Risk Measures
- Understanding and Measuring Tail Risk
- Manager Evaluation Strategies Using Specific Risk and Return Metrics
Hedge Fund Strategies
This course provides an overview of major strategies employed in hedge funds, including a consistent framework to promote understanding and differentiation. The framework includes key concepts specific to each strategy, an examination of their historical returns relative to stocks and bonds, as well as an examination of their monthly returns distribution, including tail risk exposures. The course also examines the correlations between strategies, including combining different strategies to achieve specific portfolio outcomes.
Key topics include:
- An Overview of the Four Classifications Used to Segment Most Hedge Fund Investment Strategies
- Understanding the Core Hedge Fund Strategies
- Performance Evaluation and Expectations for Each Strategy
- Differentiating Between Strategies
Liquid Alternative Mutual Funds
This course links the world of hedge funds to the newer world of liquid alternative (‘40 Act) mutual funds. Many of the same strategies employed in hedge funds are present in their liquid alternative counterpart, although often with important differences. This course follows the same framework introduced in the Hedge Fund Strategies course to promote understanding and differentiation but applies it to the unique construct/ categorization on the liquid alternative fund side. The course concludes with a detailed comparison between the various product structures, including differences in leverage and liquidity, as well as tax reporting.
Key topics include:
- Overview of Liquid Alternatives Industry
- Understanding Core Liquid Alternatives Strategies
- Differentiating Between Strategies
Applying Alternative Strategies in the Portfolio
This course provides an overview of concepts and techniques to differentiate between hedge fund strategies and apply them in a portfolio context. The course links the content from all the previous Alternative Investment Program courses into real-world applications that require the participant to demonstrate the four proficiencies outlined at the beginning of the Program.
Key plans under consideration include:
- Differentiating between strategies based on various risk and return metrics
- Identifying appropriate strategies based on desired portfolio outcomes
- Understanding the interaction of strategies in the portfolio
- Applying the strategies in a risk-allocation framework
Specialized Track Client Engagement Modules
The Business Owner Conversation
Business Owners are a vitally important segment of the HNW marketplace. This module provides insights and perspective on the Business Owner mindset, the key issues of greatest importance to their financial well-being and strategies for how to engage them in more meaningful conversations.
The Corporate Executive Conversation
The Corporate Executive Conversation Corporate Execs face a number of planning challenges due to the unique aspects of their compensation. This module provides an overview of the core planning issues that need to be addressed with corporate executives and how advisors can effectively engage these clients in meaningful conversations to identify opportunities.
Mariner Academy Enrollment Instructions
To enroll in the online courses, access the Mariner Academy link through the Mariner Application Portal, or go simply click here. From this page, select “New Enrollment” and follow the instructions.
Please note that there is a limit of two classes in which you may be enrolled at one time. You will receive an account activation email directly from Greene Consulting that will include your user name and password.
Once you’ve established your account, you’ll be able to access the course material using the same link on the Mariner Application Portal and then selecting the “Login” option.