Frequently Asked Questions

The CPP unites banks, attorneys, CPAs, financial services firms, insurance agents, investment professionals, and other professionals to address racial wealth disparities. It provides a pathway to wealth creation, cash flow management, wealth transfer, and charitable giving. This may be achieved through a blend of information, guidance, skill development, and self-discipline, empowering individuals to make informed financial decisions. The CPP is founded on comprehensive collaboration, believing individuals benefit from the coordinated efforts of their professional advisors (attorneys, CPAs, financial advisors, etc.).

The CPP was formed through a collaboration between the Legacy Leaders Network (LLN) and the Consortium of Wealth Network.

• Family Wealth Advisors & Trustees: 23%
• Family Business Consultants & Coaches: 17%
• Estate Attorneys & Tax Professionals: 14%
• Philanthropy Professionals & Consultants: 8%
• Family Office Professionals & Consultants: 6%
• Legacy Professionals & Consultants: 5%
• Other disciplines serving HNW and UHNW families: 27%

Olin T. Wiley (Program Manager): Founder and CEO of the Consortium of Professional Providers, Co-Team Leader of the CPP, and Program Manager of the AIMFD “Life Success” program. Mr. Wiley's 50-year career in financial services began at New York Life, where he achieved notable success, including "Rookie and Agent of the Year" (1975) and becoming one of the youngest General Managers at age 29 (1980). His extensive experience guides the CPP's mission to close the wealth gap and help individuals and families build lasting legacies.

Stan Miller: An experienced Estate Attorney and CEO/Principal Attorney of Pinnacle Legacy Law. Mr. Miller's passion for legacy building led him to co-author the national best-selling book Your American Legacy—Powerful Strategies That Instill Lasting Values for Generations. He founded the Legacy Leaders Network (2022) and trains professionals (attorneys, financial advisors, CPAs, realtors, etc.) to grow their businesses and help clients build lasting legacies. He advocates for accessible legacy strategies for all, regardless of wealth.

Through the CPP, AIMFD scholars and association members gain access to a nationwide network of preferred professionals, including:

• Financial Advisors & Wealth Managers
• Estate Attorneys (special pricing)
• Banks and Lenders (medical professional loans)
• CPAs and Tax Advisors (comprehensive tax advice)
• Insurance agents offering strategies designed to help benefit physicians, residents, fellows, and students

These professionals collaborate to help alumni achieve their financial goals. Our financial advisors and wealth managers also work with clients' existing professional advisors where applicable.

Additionally, the CPP offers financial strategies, programs, and services available to AIMFD alumni through this program.

• Wealth Strategies: A holistic approach encompassing investment strategies, legacy, and tax optimization (moving beyond the limitations of traditional financial strategies).
• Wealth Management: A team-based approach involving financial advisors, accountants, attorneys, insurance agents, and niche professionals. The CPP Wealth Management Platform offers access to public and private investments (private equity, private credit, private real estate, and institutional-class investments).
• Proactive Tax Strategies: Moving beyond mere tax preparation to develop long-term tax strategies designed to help minimize liabilities and maximize wealth accumulation (requires a team of professionals to navigate the complexities of the tax code). The Consortium of Professional Providers Team-Based Wealth Building program provides these tax strategies.
• Insurance and Risk Mitigation: Strategies to address risks such as long-term healthcare costs and litigation (long-term care insurance, umbrella insurance, etc.).
• Legacy & Legal Strategies: A broader approach than traditional estate, encompassing financial assets, intangible values, personal impact, and the desired legacy.
• Business Advisory Services: Assistance with various aspects of business management, including back-office support, entity analysis, accounting system setup, and retirement analysis.
• Life Insurance, Strategies, and Products: Offering insurance products that offer features tailored for physicians and other high-net-worth professionals (high coverage amounts with minimal requirements), options for individuals with specific needs (cancer patients), college funding strategies, accelerated benefits riders, leveraged strategies, and disability insurance.

The CPP offers a streamlined, efficient process for developing and implementing comprehensive financial strategies. It leverages the services, strategies, and products of various preferred independent professionals and companies (financial advisors, legacy attorneys, tax professionals, bankers, lenders, college tuition professionals, real estate professionals, business management firms, etc.), often with reduced pricing.

The CPP utilizes a Team-Based Proactive Platform, employing a "virtual family office" model. Professionals work collaboratively, similar to a medical care team.

CPP team leaders assess each individual's needs, prioritizing issues, addressing major problems, identifying key goals, and connecting them with appropriate professionals.

Second Opinion Analysis:

• Single analysis: $49
• Three analyses: $99
• Five analyses: $149
• Retirement needs analysis (403(b), 401(k), 457, IRA)
• Survivor needs analysis
• Financial products review analysis
• Life insurance review 
• Social Security income analysis
• Estate strategies, wills & trusts analysis
• Stock & bonds brokerage account analysis
• Legacy assessment analysis
• Review of current financial strategy
• College tuition analysis
  

Silver Level: $499.00 (Includes informational content and Q&A on financial and retirement strategy)

• Access to online information, webinars, newsletters, videos
• Retirement income strategies
• Investment account risk/return proposal
• Proactive tax proposal
• Life, long-term care, disability insurance proposal
• Financial strategy
  

Gold Level: $799.00 (Includes all Silver Level benefits plus a formal assessment of legal, asset protection, tax, and risk mitigation strategies)

• Tax burden assessment
• Vulnerability to litigation assessment
• Living trust review/creation
• Long-term care strategy review/creation
• Eldercare strategy review/creation (Sandwich Generation) 
• (Cost does not include creation of legal documents)

Platinum Level: $999.00 (Includes all Gold Level benefits plus implementation of strategies)

• Implementation of financial, legal (estate), long-term care, college funding, proactive tax, and wealth-building strategies.
• Retirement Distribution Strategy (aimed at maximizing after-tax cash flow and net worth)
• Personal financial website ($1,500-$2,500)
• (All levels involve collaboration with CPP legal and tax professionals)

This initiative is largely due to the vision and efforts of Dr. James R. Gavin III, AMFDP Director Emeritus and National Advisory Committee member. As Dr. Gavin states:

“For many years, our training and enrichment programs focused almost exclusively on professional or career success. We emphasized choosing the best opportunities, achieving strong records, securing grants and publications, and excelling in patient care and teaching. While crucial, we overlooked vital aspects of ‘life success,’ neglecting wealth generation and preservation and strategies for intergenerational wealth transfer. This was true in my case, lacking any legacy of estate strategy or inheritance. As a ‘late starter’ in the financial world, I learned from those with substantial wealth the significant differences explaining the wealth gap between whites and communities of color. A key difference is strong financial literacy: understanding estate strategies, savings and retirement programs, tax minimization, comprehensive insurance, trusts for estate protection and wealth generation, and leveraging advantages.”