FPA Teams Up with FP Partners


FP Transitions pic

FP Transitions
Image: onefpa.org

Based in Houston, Texas, Henry E. Vail II is a private wealth advisor with Sucre-Vail Wealth Advisors. In this role, he has been recognized with a number of awards, including Texas Monthly Magazine’s 2011 Five Star Professional Wealth Manager designation. Over the years, Henry Vail II has stayed up-to-date on the latest trends and laws in finance by maintaining membership in the Financial Planning Association.

Earlier this year, the Financial Planning Association (FPA) rolled out a new joint initiative with FP Transitions to provide guidance to up-and-coming financial planners and equip them to become successful as they grow in the field. FP Transitions will work with the FPA to provide support to existing financial firms who are working to develop future plans concerning new leadership and other transitional issues.

FPA CEO Lauren M. Schadle, CAE, weighed in on the partnership by expressing excitement about the new opportunities the collaboration with FP Transitions will open up for FPA members. She also praised FP’s knowledge about company transition and believes the organization’s experience will help younger FPA members eventually transition into ownership roles in their firms.


How Liability Audits Protect Businesses

Sucre-Vail Wealth Advisors pic

Sucre-Vail Wealth Advisors
Image: sucrevailwa.com

 Henry E. Vail II is a wealth advisor at Sucre-Vail Wealth Advisors. Based in Houston, Texas, Henry Vail II offers his clients in the medical field financial services including wealth management, private banking, and liability audits.

The business environment is prone to catalytic changes, from changes in the governing legislation to technological disruptions. These changes expose businesses to liability lawsuits. Liability audits are essential to determining the extent of this risk.

These audits are conducted by insurance companies or financial agencies on the profit statements of policyholders to determine whether they express an accurate picture of the business’ exposure to lawsuits. While these audits do not reveal details about a company’s valuation, they establish the extent to which the company is protected from claims and if more coverage is necessary.

In conducting a liability audit, an auditor evaluates the company’s payroll, specifically federal payroll tax returns, and income statements. Afterwards, the auditor looks at the overall employee expenses and the classification of employees to allocate liability exposure with job duties. This reveals the jobs categories carrying the most liability risk.

The major benefit of this audit is that it notifies business owners of their exposure to lawsuits and the adequate steps to take in order to cover themselves adequately.

Tips for Estate Planning

Wealth advising specialist Henry E. Vail II operates as a partner at Sucre-Vail Wealth Advisors in Houston, Texas. A member of the Financial Planning Association, Henry Vail II provides a wide variety of client services, including estate planning strategies.

Nearly half of Americans do not have a current estate plan to ensure their assets go to the right people after they pass away. Throughout your life, there are several ways that you can successfully manage your estate and the eventual division of your assets.

Hire Professionals to Help You
If you don’t know where to start when looking to manage your estate, you can enlist the help of professionals from the financial sector. Advisors, tax specialists, and estate planners can all help you oversee wills and investment portfolios. Before hiring any of these professionals, consult with them to assess how they can best serve your needs.

Create a Will
A will provides you with legally binding assurance that your assets will go to the correct people or organizations. As well as finances and property, wills dictate who will receive your possessions or look after your children. Without a will, state laws will dictate where your assets go after your lifetime.

Minimize Estate Taxes Sooner rather than Later
You can curb any future taxes or estate charges by giving monetary gifts throughout your life. Each year, you can give tax-exempt gifts of up to $13,000 to a varying number of beneficiaries. You can also leave your taxable assets to nonprofit organizations and all other possessions and funds to additional recipients.

The Financial Planning Association’s Annual Financial Planning Week

An accomplished financial professional with Sucre-Vail Wealth Advisors in Houston, Henry E. Vail II has received multiple accolades for his work over the years, including being selected a 2011 Five Star Professional Wealth Manager by Texas Monthly Magazine. Throughout his career, Henry Vail II has worked to enhance his knowledge and skills by remaining active in organizations like the Financial Planning Association (FPA).

In its efforts to raise public awareness of the financial planning profession and the issues affecting the financial planning process, FPA oversees a variety of programs and activities aimed at advocacy and education. As part of this work, FPA chapters from across the country come together each fall to celebrate the organization’s Financial Planning Week.

FPA members nationwide commemorate Financial Planning Week by building awareness through educational seminars, hotlines, and media interviews. Now in its 14th year, the FPA’s 2015 Financial Planning Week will be observed October 5-9. For information about local Financial Planning Week events in your area, visit http://www.onefpa.org.