Welcome to Fortune Financial
Fortune Financial is a team of seasoned financial professionals who provide personalized, goal-based strategies and advice for individuals, corporate executives, business owners and their families. Our group offers specialized expertise in developing comprehensive, results-focused financial strategies designed to enable you to efficiently pursue long-term financial success.
Fortune Financial is committed to alleviating your concerns about finances and taking uncertainty out of investing by putting thoughtful financial strategies in place. We believe your investment portfolio is the funding vehicle for realizing your objectives. Asset allocation and/or security selection are financial tactics, not goals – not running out of money in retirement is a goal. We are committed to creating investment strategies consistent with long-term trends and historical behavior of capital markets and are never based on emotion, economic, or market viewpoints.
Everything we do – from personal and business investment management to helping you unify your retirement, insurance, estate planning, and risk management strategies – is designed to advocate for your financial success and security. We strive to accomplish this by forging sustainable, candid client relationships based on shared values, mutual trust, transparency, and respect.
Purpose is as important as profit
At Fortune Financial, we are committed to social responsibility. We enhance the quality of life in the communities where our associates and clients live. Our values help us advocate for those who need our support to further their cause.
It’s our job to help others
For over 20 years, Fortune Financial has enriched lives through the financial services we provide: insurance, investments and retirement strategies. With entrusted client assets exceeding $2 billion, as of Dec 2021, the families in our surrounding communities count on us to help them achieve long-term financial security. We gladly accept this responsibility, protecting our neighbors and helping them prosper.
Taking it a step further
We extend our work to the greater community through our Charitable Fund, established to promote, sustain and administer the charitable efforts of our associates and clients. The Charitable Fund currently supports the following organizations
- American Cancer Society
- Breast Cancer Awareness Association
- Courage Center
- Gillette Children’s Foundation
- Greater Minneapolis Crisis Nursery
- Minnesota Medical Foundation
- Muscular Dystrophy Association
- Shriner’s Hospital for Children
- Special Olympics Minnesota
- Walker Methodist
- We Can Ride, Inc.
To learn more about our Charitable Fund please call 952.908.2500. We look forward to hearing from you.
We make available a wide range of quality insurance and investment products. Our financial representatives work with you to create financial solutions tailored to your individual needs. We spend the necessary time to thoroughly understand your financial situation. Then we focus on helping you define your current situations and develop specific, achievable goals.
We are committed to helping you develop long-range strategies that can help lead to financial success.
Our retirement planning services are designed to allow you to identify your specific retirement goals and develop a specific strategy to help you achieve them. We assist in managing all aspects of your transition to retirement, from the asset accumulation phase to the distribution phase of your life, as well as balancing the need for a predictable cash flow and your desire to leave a legacy.
We offer the following products and services for individuals and businesses.
- Specialized Fee-Based Financial Planning Services: Insurance Needs Analysis, Retirement Income Planning, Tax Planning, Education Funding, Cash Flow/Budget Analysis, Cash Flow/Mortgage Analysis, Personal Estate Planning* including Analysis of Strategies for Estate Tax Minimization, Investment Needs Analysis, Managed Asset Planning, and Business Planning (including Business Continuation and Succession Planning), and Qualified and Non-Qualified Employee Benefits
- Investment Advisory Services
- Fee-Based Asset Management
- Private Account Management
- Broad Range of Investment Options: Money Market Funds, Corporate Cash Accounts, Government Securities Funds, Corporate Bond Funds, Balanced Funds, International Funds, Growth/Equity Funds, Sector/Specialized Funds, Tax-Exempt Funds, Unit Investment Trusts
- Stock and Bond Brokerage Services: Our associates who are Series 7 registered make available: Listed Securities, Over-the-Counter Issues, Corporate Bonds, Government Bonds and Treasury Bills, Municipal Bonds, and Certificates of Deposit
Asset allocation is the process of selecting a mix of asset classes that closely matches an investor’s financial profile in terms of their investment preferences and tolerance for risk. It is based on the premise that the different asset classes have varying cycles of performance, and that by investing in multiple classes, the overall investment returns will be more stable and less susceptible to adverse movements in any one class.
All investments involve some sort of risk, whether it’s market risk, interest risk, inflation risk liquidity risk, tax risk. An individualized asset allocation strategy seeks to mitigate the risks of any one asset class through diversification and balance.
When done properly, an investor’s allocation of assets will reflect his desired goals, priorities, investment preferences and his tolerance for risk. Asset allocation is an individualized strategy, so there really is no perfect mix of assets. Each individual’s strategy is built on the careful consideration of the key elements of their financial profile:
Investment Objectives: What it is the investor hopes to achieve using his investment dollars – improve current lifestyle; achieve capital growth; fund a specific goal, such as a college education.
Risk Tolerance: This reflects the investor’s comfort level with market fluctuations that can result in losses. Inflation risk and interest risk need to be considered as well.
Investment Preferences: An investor may prefer one asset class over another based on a certain bias or interest towards the characteristics of that class.
Time Horizon: The length of time an investor is willing to commit to achieving his objectives.
Taxation: Investing in a mix of asset classes will have varying tax consequences.
An evolving strategy
A sound asset allocation strategy includes periodic reviews.
About the only certainty when it comes to the financial markets is that they will change, and so will your financial situation. Through market gains and losses, a portfolio can become unbalanced and it may be important to make adjustments to your allocation. As people move through life’s stages their needs, preferences, priorities and risk tolerance change and so too must their asset allocation strategy.
Asset allocation, which is driven by complex mathematical models, should not be confused with the much simpler concept of diversification.
Learn more about asset allocation by contacting us today.
Neither asset allocation nor diversification guarantee against loss. They are methods used to manage risk.
Insurance and annuities
With access to a wide variety of carriers in addition to our relationship with North Star Consultants, Inc., an insurance brokerage firm, we offer alternatives for your business and individual financial needs.
- A full range of business insurance products and strategies: Key Person Insurance and Split Dollar Insurance
- Overhead Expense Insurance Disability Buyout Insurance Funding of:
- Executive Compensation Agreements, Stock Purchase Agreements, Business Continuation Programs, Deferred Compensation Strategies, Salary Continuation Programs, Buy/Sell Funding Agreements
- Individual Insurance
- Life, Disability, and Health Care
- Long-Term Care Insurance
- Individual Policies and Group Plans
- Employer Sponsored Individual (ESI) Pl
- Comprehensive Awareness Program providing individual groups with long-term care education, including; informational articles, guides and brochures
- Workshops and seminars
- Fixed Annuities
- Flexible Payment Deferred, Single Payment Deferred, and Immediate Annuities
Fortune Financial provides corporate executives and businesses owners with strategies formulated to increase corporate and personal net worth. This includes guidance for managing concentrated positions, stock option exercise and sale, succession planning, estate planning and business transition strategies. We also help coordinate employee benefit programs tailored to your personal, business and employee needs to seek to position you and your business to achieve your goals.
Retirement Plan Services
Retirement Plan Advisory Services
Together, we will work with you to address your company’s retirement plan needs and your employees’ retirement readiness. We look at the retirement plan process in three layers:
- Plan Design and Technical Expertise
- Fiduciary Oversight
- Participant Advocacy
Retirement Plan Seminar Services
- Financial Workshops
- Educational Employee Benefit Programs
Employee Benefit Programs
- Design and Implementation of Cafeteria Plans/Flexible Spending Accounts
- COBRA and HIPAA Administration
- Consolidated Billing
- Online Human Resource, Benefit Administration, Safety, Risk Management and Payroll Services
Employee Benefits Programs and Products
- Medical Insurance, Group Disability, Life Insurance, Dental and Retirement Plans
- Fully insured, self-insured, and Medical Savings Account (MSA) services
- Design and implementation of Cafeteria Plans
- COBRA and HIPAA Administration
- Online Human Resource, Benefit Administration, Safety, Risk Management and Payroll Services Consolidated Billing
Business Succession Planning
The death of a partner or major stockholder in a business can have devastating effects on both the business and the deceased partner’s surviving family. The business is concerned with gaining control of the deceased partner’s interest at a fair price so that it can continue operations without interference from the surviving family members. The family members are most concerned with receiving as much money as possible for their interest in the business and for capital that may be needed for estate settlement purposes.
The Need for a Written Agreement
Absent a written agreement, the competing interests of the business and the family members could lead to major conflicts, litigation and possibly the forced liquidation of the business. A buy-sell agreement can ensure that the business interest of the deceased partner will transfer in an orderly manner to the benefit and satisfaction of all parties. With a buy-sell agreement in place, the stability of the business for it clients, employees and investors (or creditors) is more assured.
Key elements of a buy-sell agreement include a mutually agreeable sales price and terms of the sale. The agreement needs to be funded in order to ensure that the capital is available at the time of the death of a partner. Life insurance provides a cost effective means of creating the capital necessary to buy out the interests of the family and establish a reserve for the business to use to continue its operations.
Types of Business Owner Buy-Sell Arrangements
Entity Plan: Under this arrangement, used when there are multiple owners, each of the business owners has a separate agreement with the corporation or partnership as the entity. The entity, per the buy-sell agreement, will buy the deceased partner’s interest at his or her death.
Cross Purchase Agreement: Used in situations where there are two or three owners, a cross purchase agreement is established between each of the owners. At the death of one of the owners, the surviving owners agree to buy a proportionate share of the deceased owner’s interest.
Buy-Sell arrangements are a simple, yet effective way for business owners of privately held companies to prepare for the orderly transfer of business interests where two or more owners are actively involved in the business. In addition to securing the needs of the surviving family members and ensuring the continuation of the business, a buy-sell arrangement also ensures each owner that there is a buyer for their business interest at a fair price.
Business succession planning involves legal, tax and personal financial issues. Guidance from a qualified attorney or tax professional is strongly recommended.
For more information on business succession planning, contact us today.
- What is my current net worth?
- How much should I be saving for college?
- Mortgage calculator
- How much life insurance do I need?
- How much disability income insurance do I need?
- What are my long-term care insurance needs?
- What is the value of compound interest?
- What is the impact of increasing my 401(k) contribution?
- How much will I need to save for retirement?
- Compare a Roth 401(k) to a traditional 401(k)
Fortune Financial, an affiliate of North Star Resource Group, both of which are independently owned and operated offer their own suite of products and services entirely independent of Securian. 4720361/DOFU 11-2022