Serving the financial planning needs of high net-worth, closely held businesses and owners is the mission of Affluence Financial Group.
“We take a very complex business situation and bring simplicity to understanding it,” says Clark “Corky” Ullom, a partner in the firm. In addition, AFG is committed to collaboration with experts in accounting, law and insurance to meet the client’s specific needs. These two strengths set AFG apart from other firms.
AFG offers expertise in all areas of financial management, including retirement planning, tax management, estate planning, investment strategies, risk management and group benefits. The firm has a combined 90 years of experience. AFG has embraced technology, offering a financial application that allows a client to check all accounts in real time on mobile devices.
“We encourage our clients to demand their current legal and tax teams are collaborating for the clients’ planning objectives. Our team focuses on practicing what we preach. Our advisers collaborate on each plan design and bring a different perspective utilizing our different backgrounds and expertise to help our clients reach their goals,” says Jess Lempesis, a partner in the firm. Collaboration between legal, tax, and financial teams is crucial to the business owner marketplace, a focus for AFG.
A major issue that many owners face is business succession planning. “Less than 5% of closely held businesses make it to the third generation1,” says Sidney “Copey” Copleston, a partner in AFG. “Often, 90% of the family’s wealth is tied up in the business.”
Business owners need an objective third party to help navigate this process, as they may be too close to the situation to weigh the risks they are taking, Ullom says.
AFG’s vision is unique in financial management, says Alex Mitchum, the firm’s youngest partner. “We have the vision to think beyond the transaction, something we really strive for.”
The goodwill of its clients resulting in referrals has led to AFG’s growth. The firm has a collaborative relationship with a community bank in South Carolina, doing financial planning for its clients, and AFG plans to add more strategic partners in the future.
Recently, AFG was named 2016 Team of the Year by NSC Financial, a member of the MassMutual Financial Group, recognizing the firm’s financial professional team approach. In the community, AFG sponsors the True Blue Gala benefiting the National Medal of Honor Museum Foundation, and supporting The Stray Dog Society, benefitting the Citadel Scholarship program.
“We don’t know it all but we have relationships with those that do. There is wisdom in partnering with those who can assist you. Our clients expect that.”
– Clark “Corky” Ullom, Financial Services Representative
Securities, investment advisory and financial planning services offered through qualified registered representatives of MML Investors Services, LLC. Member SIPC. Affluence Financial Group is not a subsidiary or affiliate of MML Investors Services, LLC, or its affiliated companies. OSJ - 11215 North Community House Road, Woodward Building - Suite 100, Charlotte, NC 28277. (704) 541-2777. CRN201905-212467
1Why Wealth Disappears http://www.fa-mag.com/news/why-wealth-disappears-8227.html