WealthTech on Deck

Implementing UMH Overlays and Amplifying Existing Systems with Martin Cowley

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In this episode, Jack talks with Executive Vice President of Product Development at LifeYield, Martin Cowley.

Martin is one of the pioneers in building UMH solutions in the industry. Through technology, he's been developing the most efficient and effective ways to improve outcomes for clients. 

Martin and Jack discuss the benefits of UMH implementation on asset allocation, tax drag minimization, and operational improvement.

“There's a lot of listening involved. A lot of time is spent understanding existing workflows and existing systems. The challenge with putting a UMH in place is that everybody's situation is different. All of our clients have different systems in place. They look at the investment process in slightly different ways. Even the definition of UNMH may be different in terms of what people mean.” ~ Martin Cowley


Main Takeaways 
  • When dealing with UMH accounts, coordination is critical. Look at them from the investor’s perspective in a holistic way rather than piece-by-piece.
  • Different accounts have different tax treatments. For example, a taxable account is different from a tax-qualified account. UMH plans offer efficient asset consolidation when dealing with increased complexities.
  • Create a plan prior to UMH implementation to avoid disruptive changes. Factors to consider should be the firm’s anticipated spending expenses, size of existing accounts, and type of existing accounts. 
  • When doing decumulation or intelligent withdrawals, tax-efficient asset allocation is critical. 

    • Links
    • Martin Cowley on LinkedIn
    • Improving After-Tax Returns, Retirement Income, and Bequests through Tax-Smart Household Management by LifeYield
    • Riskalyze
    • Westminster Abbey
    • Kate Middleton, Duchess of Cambridge

      • Connect with our hosts
      • LifeYield
      • Jack Sharry on LinkedIn
      • Jack Sharry on Twitter

        • Subscribe and stay in touch
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