We explore the topic of “Leaving a Legacy” in the Jan/Feb issue of the Register. Our featured Registered Financial Consultant is J. Christopher Dixon (Chris), RFC® of Black Harbor Wealth Management located in Greenville and Seneca, SC, who relates his journey to a financial professional mainly dealing with clients who wish to address these needs of estate planning.
With an initial background in accounting and business, Chris easily transitioned to a full service financial consultant. He attributes the somewhat easy metamorphosis to great mentors who advised him along the way. After selling a successful telecom business, he co-founded with his son Christopher, Black Harbor Wealth Management to solve the dilemma of how to deal with money realized from the sale.
The firm became a “family business” with the addition of his other two sons, Sam and Matt.
“It is a father’s dream to have his children work together in a family business,” remarks Chris. “We are all really competitive so we push each other to be better each day and each week. It has been great to watch the boys grow and develop in this business.”
BHWM looks at legacy in many forms depending on the individual and their needs. They ask a great deal of questions in the client discovery phase to find out what the client really wants and then matches up a strategy with the appropriate products ranging from life insurance to hybrid annuities.
In their seminars and books, the family team works towards maximizing cash and estate value by using cash value life insurance built up over time. Chris feels the concept has been around since the 80s so it is not new, just underutilized.
“The biggest misconception that clients have when talking about leaving a legacy is that it only means creating a beneficiary plan,” explains Chris. “A legacy plan is much more involved than simply designating beneficiaries.”
“We need successful individuals to move the Association forward – people who are used to accepting and solving challenges,” commented H. Stephen Bailey, MRFC, IARFC Chairman and CEO. “It’s obvious that Chris and his sons exemplify these qualities in helping clients “Leave their Legacy” and accept all the fiduciary responsibilities and challenges included.”
For his own legacy, Chris has created a succession plan for BHWM and his sons.
“The sleeper in the bunch is my daughter Susan who is a senior at Clemson University,” admits Chris, “I am holding out to see if she wants to join us.”
For the full interview of Chris Dixon, RFC® and newly elected IARFC Board Member, visit the IARFC website www.iarfc.org.