Financial Professional Liaison Section

The Financial Professional Liaison Section is a multi-disciplinary organization that promotes cooperation among members of the legal profession, financial industry, accountants and other professional organizations. We provide our members with educ-ation, networking, social and business opportunities to build strategic alliances and ultimately nurture and develop our practices.

Of Interest

Issues discussed among our membership: 

401(k) Alternatives: It's not what you make, but what you keep.  Whether your firm does not have a 401(k) because of hassle, expense, or ignorance, it should not stop you from taking advantage of tax laws and plan effectively for retirement.  Consider other options such as IRAs and even non-qualified income tax deferred strategies with unlimited contribution limits.

Business Succession Planning: Without careful consideration, transitioning businesses and their critical processes from senior associates to the remaining talent pool can be catastrophic, or at the very least, confrontational and anxiety-provoking.   Planning for the worst allows you to hope for the best.

Tax Deferral: Do you earn a high income? With capital gains tax rates increasing from 15 percent to 20 percent, and dividends now being taxed as ordinary income, it may be time to start looking at tax deferred options with your investments.

Duties of a Trustee: Trustee designation is often an afterthought for trust implementation.  What makes a good trustee? What duties and roles can a trustee expect to perform? How can a trustee protect himself/herself from unnecessary complications?

Fiduciary Responsibilities of 401(k) Plan Sponsors: What is a Fiduciary? What liability exists in being a fiduciary and what strategies can mitigate the risk or the headache?

Implosion of Private Pensions May Affect Lawyers: Some firms’ employee pension funds will not provide the retirement income the participants had anticipated. These retirement plans often projected an average annual return of 8%.  The low-interest rate environment, coupled with the lost decade have set back many of these plans.   When was the last time your pension plan was reviewed?