Six longtime partners form SEC Registered Investment Adviser and financial planning firm to bring expanded financial services and fiduciary-driven wealth management to clients in Kansas City and beyond
OVERLAND PARK, Kan., Aug. 16, 2022 /PRNewswire/ -- Tax Favored Benefits, Inc. (TFB), a 40-year old, third-generation financial services firm headquartered in the Kansas City area, today announced the formation of a sister company and new business entity, TFB Advisors, LLC. TFB Advisors is a Registered Investment Adviser (RIA) and wealth management firm driven by fiduciary standards that will offer a new suite of solutions to current and prospective clients. The current leadership team remains in place at TFB, an established brand and respected firm that has been serving business owners, families and individuals since 1978. The newly-established TFB Advisors leadership team includes six partners who have worked together as colleagues and peers for many years: David B. Wentz, J.D., Bill Stapp, J.D., Josh Selzer, J.D., Tim Gaigals, CFP®, Dan Dolan, ChFC®, CLU®, LUTCF, and Adam Bettis, AIF®.
"We've been working together for many years now," said Wentz, "but it was time to formalize our partnership. This new entity, TFB Advisors, will allow us to best serve our clients. The decision to form TFB Advisors, LLC as a new sister company to Tax Favored Benefits, Inc. was driven by the desire to enhance the client experience."
"We will be announcing new services, investment offerings, financial planning solutions, and technology as we continue our ever-evolving journey and quest to enhance all aspects of the client experience," added Selzer. We have been growing together under the TFB brand since 2005. We're headed in a great direction and plan to continue our growth trajectory through new staff hires and advisor recruiting efforts."
"Once the transition of fee-based assets has been completed, TFB Advisors expects total assets under management (AUM) to be approximately $2 billion," said Gaigals. "The creation of this partnership between highly experienced and proven, long tenured advisors establishes the opportunity to grow in the future. The new RIA structure will allow us to offer new investment and financial planning solutions to clients."
Custodial services will be provided by Schwab Advisor Services and AssetMark, Inc. Schwab is one of the nation's largest providers of custody, trading, and support services for independent investment advisors. Independent investment advisors are not owned by, affiliated with, or supervised by Schwab. AssetMark is a leading provider of extensive wealth management and technology solutions that help financial advisors meet the ever-changing needs of their clients.
Over the past 40 years, TFB has provided financial advice, business planning, insurance and brokerage services to individuals, families and business owners. Business owner clients include professional law firms, CPAs, medical and dental associations, farm implement and supply dealers, technology companies, institutions, and endowments. Individuals and families also make up a large component of the firm's clientele.
"At Tax Favored Benefits (TFB), we serve as a partner in helping individuals, families and business owners achieve financial success," said Wentz. "Headquartered in Kansas City, we are driven by our Midwestern values and work ethic and powered by a wide range of resources. Our experienced professionals provide a full suite of wealth, investment, and retirement planning services to clients across the country. We can help them achieve their version of personal and professional success because we put their best interests first, at all times and in all situations. It's that simple."
TFB Advisors may also offer 3(38) ERISA services. This special type of fiduciary is specifically appointed to have full discretionary authority and control to make the actual investment decisions. This means that for its corporate plan sponsor services, the firm serves as an investment fiduciary, lifting the majority of investment responsibilities from the plan sponsor to TFB, which then becomes responsible for the investment selection, monitoring and replacement of plan options. The plan sponsor is informed before any changes are made. This allows plan sponsors to focus their time and energy on other business matters while outsourcing their fiduciary responsibility to TFB.
"We love working with our clients, helping them grow, finding affordable retirement solutions, and meeting their needs over time," said Jeff Pytlinski, President of both Tax Favored Benefits, Inc. and TFB Advisors, LLC. "We are proud of the long-term relationships we've built with our clients and our advisors. We've worked hard to build a great company culture."
Advisors who are seeking an independent business model are invited to contact Jeff Pytlinski for a confidential exploratory conversation. "When an advisor joins our firm, they know they are not in it by themselves. We work as their partner to help them grow and realize success," said Pytlinski. "We have created a great place for entrepreneurial advisors to thrive and grow. We welcome inquiries from advisors who are looking for a new, dynamic team and business structure."
Tax Favored Benefits, Inc. (TFB) is a 40 year old company and specializes in retirement plans, employee benefit programs, personal planning, and investments. Headquartered in Kansas City, and serving clients nationwide, they are driven by their strong work ethic, and powered by a wide range of professional resources and work force that includes J.D.s, MBAs, CFPs®, and a CFA®. TFB is a third-generation firm, founded by R. David Wentz, J.D., ChFC®. His son, David B. Wentz, J.D., now runs the business as CEO, and his son Vance Wentz is now in the business serving clients as an advisor.
TFB Advisors, LLC (TFB Advisors), the newly formed business entity, and their experienced professionals provide a full suite of wealth, investment and retirement planning services to clients across the country. The teams work together to serve as a partner in helping individuals, families and business owners achieve financial success.
To learn more about how they help clients succeed today, visit: TaxFavoredBenefits.com.
Marie Swift or Dori Thomas
Impact Communications, Inc.
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SOURCE Tax Favored Benefits, Inc.