Partners: Taylor Insurance and Financial Services is run by its president, Eszylfie Taylor (left) and Senior Agent, Glenn Crawford (right). Photo By: Troy Tieuel
One of the most fundamental questions in business and in life in regards to finance is, “How can I build wealth?” On the same token, a neglected and far less frequently asked question is, “How can I maintain the wealth that I have?” Both questions are important and some would argue that the latter takes on a more significant meaning after the first is answered. The average person doesn’t consider maintaining the wealth that they already have, for being pre-occupied with building new wealth. This pre-occupation often leads to miss management and missed financial goals. With that in mind, Glenn Crawford, senior agent at Taylor Insurance and Financial Services suggests the following mantra, “If you aim at nothing, you will hit it with surprising accuracy.”
African-Americans, as a whole, earn money in the trillions of dollars annually, yet few have real financial security. The partners at Taylor Insurance and Financial Services (TIFS) hope to change that for as many people as possible. Eszylfie Taylor, president of TIFS takes a confident stance that his firm can help anyone form financial security and a firm foundation upon which to build a wealthier future.
Taylor started in the financial industry at the ripe age of 22, and over the next ten years, became one of the top one percent of financial advisors in the nation. “We’re celebrating our first year as an independent brokerage firm,” said Taylor. “I founded the company after 13 years in the insurance and financial services industry. I felt like I was a shark in a fish tank at my former firm and wanted to break out and do something special on my own. I’m blessed to have an associate like Glenn here with me, to help grow the company.”
TIFS provides services in; insurance, investments, estate and tax planning. “We take a ‘macro’ perspective when it comes to evaluating our client’s situation,” added Taylor. “It’s not just one particular product, or planning need, we want to take all of their needs, all of their objectives into account before giving them recommendations. We always say, ‘Our clients’ needs dictate the plan.’”
Crawford has been a Senior Agent at TIFS for the past year. Before that he ran a very successful IT services business. After meeting Taylor, Crawford became enchanted with the idea of accumulating wealth and keeping wealth. “We are a full service financial firm,” Crawford explained.
“We really don’t sell products at all; we want to find out where our clients are today, what their goals and objectives are and we solve for the gap or where we can find some advantage over where they are right now.”
“People generally think that they have time,” said Taylor regarding the pitfalls that many people face when dealing with maintaining and generating their wealth, “They think, I’ll do it tomorrow, and the next thing you know, you’re knocking on the doorsteps of retirement.”
TIFS is not just for the financially well off. “Our clients fall on every spot on the spectrum that you can imagine,” said Taylor, “from those that are beginning their career and who are trying to accumulate wealth, to those who have already accumulated wealth and are now trying to preserve it or pass it on to their heirs and everyone in between. Our ideal client is really someone who wants to be helped and educated and more importantly, will actually follow through on the recommendations that we make and improve their life.”
“My advice is the same for someone who has won the lottery or has acquired an inheritance as it is for someone who has many holdings,” added Crawford. “We have a process that we go through. The first phase of that is for the company to gather facts on the rest of their positions and their goals and objectives. Wecan then give sound advice, based on knowing the whole picture. We will formulate a plan of strategy onhow to go about investing, protecting principle, reducing credit, or setting up things like annuities, or other products that are going to give them the best avenues to use those funds.”
“There are many pitfalls a person may face when they come into a large sum of money, especially if they haven’t been in a position like that before. Without prior experience or knowledge they may ask, ‘What do I do,’” continued Crawford. “Many times they start chipping off at the funds to take care of things as and when they come up. And before they know it, the money is exhausted. The key here is to look at the whole picture. I need to know what their monthly income is, what their monthly expenditures are, what their credit situation is, what their assets are. Armed with that information we can give sound advice. What you don’t want to do is take a lump sum of money and just have it sitting in the bank because you are losing money to inflation. You want to put it to the best use.”
Taylor sums up the company with this, “There are two types of people in this business, new advisors, and successful advisors. I think it’s important that as the client is deciding, ‘Who do I want to work with?’ or ‘Who do I want to get advice from?’ they work with a firm that has well established advisors that have shown and have a proven track record of successfully advising their clients.”
For more information of Taylor Insurance and Financial Services, go to http://www.taylorinsfin.com/.