Dan Brooks discusses the need for long-term care and options for coverage.
Listen to the interview on the Business Innovators Radio Network: https://businessinnovatorsradio.com/interview-with-dan-brooks-founder-of-xexis-private-wealth-discussing-long-term-care-considerations/
In this episode, Dan Brooks emphasizes the importance of educating individuals about the positives and negatives of different financial products related to long-term care. He highlights that no product is without drawbacks and stresses the need to provide comprehensive information to enable informed decision-making.
Dan Brooks also acknowledges the intelligence of individuals and their ability to navigate options once equipped with accurate facts. He emphasizes the significance of reliable information in making sound choices. Without accurate information, making informed decisions becomes challenging.
Furthermore, the episode underscores that long-term care is just one piece of the retirement puzzle and should be considered as such. Mishandling long-term care costs can have a significant impact on a person’s retirement needs.
Finally, the episode highlights that this education is not limited to individuals considering long-term care options for the first time. Dan mentions that he also reviews existing policies with individuals and their other advisors. By breaking down the policy and showing individuals what they already own, they can better understand their coverage and make decisions about it. Additionally, Brooks mentions that has helped other advisors put plans together, providing a second opinion and potentially improving older plans that may have had limitations compared to today’s plans.
Dan shared: “It’s all about accurate information. If they have an old plan and it’s got holes in it, they deserve to know that. And it doesn’t mean they’re going to replace it. They might keep it. But if they can improve it and it fits into their lifestyle, then that would be their choice. But they can’t make a rational choice without accurate information. So that’s what we provide to both them and their other advisors.”
Dan also added: “We have developed a proprietary process to reduce the complicated financial world to its five key areas, so people can easily grasp how their plan works and relax about their money.”
About Dan Brooks
Dan entered the U.S. Navy’s Nuclear Power program after high school and upon discharge, he purchased the family business which he operated for 7 years.
After his father’s death, he discovered his father lost a small fortune due to bad advice from a stock broker. Dan decided to enter financial services to find out how this could happen and help others avoid it.
In 2004 he completed the Certified Financial Planner coursework and in 2005 opened a Registered Investment Advisor firm.
He owns both a Financial Advisor firm and a tax firm based in Lake Mary, Florida. Dan works with a Registered Investment Advisor firm that manages over 3 billion dollars and is one of the fastest-growing firms in the nation.
Dan’s specialty is comprehensive retirement planning, including income planning, tax mitigation, catastrophic health care planning, Medicare, Estate Planning, and Generational Wealth.
On a personal level, his proudest accomplishment was being a single father to his daughter, who is a Police Officer. He enjoys golf, hiking, traveling, cooking, and discovering new restaurants.
Learn More:
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Investment advisory services are offered through Virtue Capital Management, LLC (VCM), a registered investment advisor. VCM and Xexis Private Wealth, LLC are independent of each other. For a complete description of investment risks, fees, and services, review the Virtue Capital Management firm brochure (ADV Part 2A) which is available from your Investment Advisor Representative, or by contacting Virtue Capital Management. Information provided is not intended as tax or legal advice and should not be relied on as such. You are encouraged to seek tax or legal advice from an independent professional.
