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Member Spotlight: Arthur Anderson, Financial Advisor, Merrill Lynch Wealth Management

 

Lake/Forest Lake Bluff Chamber:  Tell us a little bit about yourself – the services you offer and what makes you a unique financial advisor?

Arthur Anderson:  I have a passion for what I do, because I help people solve problems and achieve their goals.

I provide financial education and help individuals, families, and businesses.  Right now, I have many clients who work in the Science, Technology, Engineering, and Mathematics (STEM) fields. This includes physicians, dentists, and other healthcare professionals.  I imagine that because of my education in engineering, I’m hard-wired the same way as most STEM professionals and can relate to how they think.  However, I can assist anyone motivated who wants to start planning for their future.

Using my disciplined approach, I take each client through the three stages of wealth management, the Anderson ACE system®:  Accumulating, Consolidating, and Endowing.  During the Accumulating stage, my clients are earning an income and saving for goals.  During the Consolidating stage, my clients reduce the risk in their savings and look to their investments for income.  During the Endowing stage, my clients focus on legacy and supply their family with gifts.

A brief list of solutions I offer are:

  • Tax efficient investing (including guidance for executives with concentrated stock positions)
  • Retirement income planning (through IRA, Roth, SEP, and more)
  • Educational savings (529 plans)
  • Alternative investments for accredited investors
  • Wealth transfer and estate planning services (including gifting strategies and trust services)
  • Insurance (Life, Disability, Long Term Care (LTC), and Annuities)
  • Income, asset, and liability management (including margin, loans against securities invested, Real estate lending/mortgages, and business loans)
  • Qualified retirement plans for your business (401(k), 403(b), and 457(b) plans)

 

LF/LB: What inspired you to pursue a career in wealth management?

AA:  When I looked at my education/knowledge, my passion, and my abilities/skills they all intersected at helping others build or maintain a legacy of wealth through investments.  I studied modern portfolio theory from the University of Illinois at Chicago and I delight in being of service to others.

 

LF/LB: What is your vision or hope for the future of your business?

AA:  If there’s enough interest, I’d like to start a weekly or monthly “ask the financial professional” series; where the community can get candid answers to their financial questions.  Additionally, as a fiduciary, I aim to be the trusted one-stop shop for financial planning with the ability to provide services in investing, lending, and insuring.  …no more going to three or more places to get your financial house in order.

 

LF/LB:  How do you support and give back to the community?

 AA: I mentor clients (and their children) on business succession and retirement planning.  Additionally, I am on the board of Tuesday's Child, an organization that offers support to families of children with behavioral challenges.  I have fond memories of Lake Forest.  I commuted to Abbott Park daily when I was an engineering intern at Abbott Labs, volunteered at a charity golf outing with A Safe Place, and friends and colleagues would tell great stories about Mr. T and his family, which added to the area’s charm for me.  The LF/LB Chamber has been extremely warm and welcoming.  I am overjoyed to be part of this community and would love to spend some of my time and resources providing complimentary seminars in the libraries and colleges.  I have a special interest in Rosalind Franklin University because assisting the medical professionals that are so essential to our communities has become a passion of mine.

 

LF/LB: Is there anything else you would like to share about your business?

AA:  Currently, there are three things I would like to highlight:

1)  In November 2023, Illinois companies may be fined for non-compliance.  IL Secure Choice retirement program will cover all employers with five or more employees. IL Business owners have two choices,

  • Register for the state-run plan, or
  • Call a retirement professional and get a tailored plan.

Contact me (ArthurAnderson@ml.com) today to learn more on how to avoid penalties, reduce the tax burden, and gain assistance with fiduciary duties.

2)  Now may be a great time for you or your working age children to look into a LTC plan, before there’s any LTC tax in Illinois that could reduce their take home income.  Contact me (ArthurAnderson@ml.com) today to learn more.

3)  Committed to the community our lending department offers grants (to those that meet the qualification) to purchase real estate in Lake Forest and Lake Bluff.  Contact me (ArthurAnderson@ml.com) today to learn more.  No sense in leaving money on the table.

Note:  I do not provide legal, tax, or accounting advice.  You should consult your legal and/or tax advisors before making any financial decisions.