Blog Layout

VFO News Section

Original and Third-Party Content on VFO and Family Office-related Topics

Why Entrepreneurs and Professionals Should Review Their Retirement Plans Now

SCOTTSDALE, AZ – High-income individuals must save considerably more during their working years than low and middle-income workers in order to maintain the lifestyle they now enjoy later in retirement. However, many business owners, entrepreneurs and professionals who contribute to such plans may be doing so without knowing their plan is the right one for them.


Defined benefit plans, often referred to as “pensions,” provide a guaranteed payout to individuals during their retirement years based on calculated regular contributions made during the working years. Those contributions also happen to be tax deductible. But as noted in the article titled How to Lower Income Taxes and Build Significant Retirement Wealth in the January 17, 2022, issue of Private Wealth Magazine, Vince Annable, CEO of VFO Advisory Group, explained that not all defined benefit plans are alike.


“There are a number of different types of defined benefit plans,” says Mr. Annable. “A mistake many business owners and professionals make is not choosing the right defined benefit plan that best matches their needs and financial goals. Some plans enable putting away hundreds of thousands and potentially millions of dollars, all of which is tax deductible. However, there are multiple options as to which type of plan to utilize to enhance their individual benefits based on their particular needs.”


Vince Annable, who manages the wealth of high-net-worth clients from his office in Scottsdale, Arizona, says many well-meaning individuals with defined benefit plans often still leave money on the table. “A major reason so many business owners, physicians, and dentists are losing out is that they are not aware of what’s possible, understanding what their options are, and they’re likely talking with financial advisors who have a limited understanding of how to implement the right defined benefit plans. We always do a thorough discovery process to determine the right plan for the client because certain plans allow significant enhanced benefits depending on the client’s situation.”



Readers who contribute to a defined benefit plan are encouraged to consult with a financial advisor or wealth manager to determine if their defined benefit plan is best suited to their needs and objectives.


a large family sits at a table with plates and glasses of wine

The Value Of Multi-Generational Family Meetings

By Russ Alan Prince • 24 Oct, 2023
Wealthy families have tremendous potential to veer off course, diminishing family fortune and causing severe intra-family conflicts. Many wealthy families are taking action to mitigate the possibility of family members distancing themselves and lessening the family’s financial position.

Why Single-Family Offices Are The Preferred Choice By Many Of The Super-Rich

By Russ Alan Prince • 17 Oct, 2023
For various reasons, super-rich families with a net worth of $500 million or more choose single-family offices to coordinate and oversee critical aspects of their financial and personal lives.
Female business owner holding

3 Ways to Help Maximize Family Wealth When Selling Your Business

By Russ Alan Prince • 23 May, 2023
Many entrepreneurs make various mistakes when selling their companies that may lessen the after-tax monies they receive. Three mistakes often front and center are a lack of pre-sale wealth planning, not adequately preparing the company for sale, and failing to negotiate the sale skillfully.

How Successful Entrepreneurs Benefit From Personal Financial Exit Planning

By Russ Alan Prince • 15 May, 2023
Comprehensive exit planning, which encompasses corporate and personal exit planning, translates into greater family wealth for successful entrepreneurs. However, not all exit planning professionals are alike. Read why that's important.

How Wealthy Parents Address the Problems Caused by Their Over-Privileged Children

By Russ Alan Prince • 11 May, 2023
The burgeoning number of wealthy families can best explain the reason for the burgeoning number of over-privileged children. With the explosion in overprivileged children, an expanding set of professionals are on call to help extremely wealthy families deal with problems when they arise.
White piggy bank sheltered by roof made with man's hands

Why Ultra-Wealthy Families Use Private Trust Companies

By Private Wealth Magazine • 29 Mar, 2023
The benefits of using a private trust company that works solely for your family may be significant particularly if you own multiple businesses and complex wealth transfer concerns. It enables the family to put all the trust assets together in one structure.
Wealthy mother and adult daughter peeling fruit at a table in a lush backyard garden

Helping The Ultra-Wealthy Establish Family Dynasties

By Private Wealth Magazine • 28 Mar, 2023
As families grow, the value of the assets they control has to increase to maintain buying power. As the number of family members multiplies and there are more branches in the family tree, this becomes a greater issue.
Angry woman pointing out mistake to a financial executive

What Many Wealthy Families Get Wrong About ‘Great’ Wealth Managers

By Private Wealth Magazine • 11 May, 2022
What sets great wealth managers apart from the merely good ones is not common knowledge. Here’s what you need to know if you’re considering “upgrading” your manager.
Man and woman discussing business at a restaurant

Why Many of America’s Ultra-Wealthy are Moving Away from Traditional Wealth Managers

By VFO Advisory Group • 18 Jan, 2022
The emergence of virtual family offices are offering elite-level services that were once limited to the wealthiest tier of the population and now at greater value.
Share by: