After graduating from U.C. Berkeley in 1985, Don Prehn started working for InsMark (a computer software firm based in Northern California) and was with InsMark for the next 13 years serving as its president from 1992 through 1995. In 1996, Don moved to Boise, Idaho and was a co-founder of several different businesses (including a finance company that was ultimately sold to a Goldman Sachs led partnership). Throughout the years, Don has continued his involvement with InsMark and now serves as an independent consultant and InsMark board member.
Notably, InsMark’s software customers include approximately 20,000 financial advisors (including life insurance brokers, investment managers, accountants and financial planners). Over the years, InsMark has been contacted by hundreds of advisors with various financial strategies and client solutions (in the hope that InsMark would develop software applications to make their specific idea easier to calculate and present to clients). Accordingly, Don has been exposed to many of the most innovative and effective financial solutions using life insurance that exist in the financial services industry.
By way of example, one life insurance group contacted Don back in 2016 with some unique approaches to using life insurance to help reduce income taxes on qualified pension plan dollars. This group asked InsMark to integrate their pension strategies into InsMark’s financial and estate planning software platform (called “Wealthy and Wise”). Don worked with this group and InsMark’s programmers and finished the software code integrations back in mid-2017.
The Formation of Blue Star:
During this process, Don formed his Blue Star agency to help other financial advisors model and present these pension tax reduction strategies. As you can see under Life Insurance Solutions in the top section of this web page, Blue Star supports a total of 6 life insurance planning solutions (with the pension strategies shown in the first 3 listings). In addition to pension tax reduction, Blue Star offers several other uniquely designed strategies where life insurance products can provide extraordinary benefits to suitable clients (and to their heirs or favorite charities).
Our Philosophy on Client Suitability:
There is no financial strategy that is appropriate for all clients. In all cases, we insist that each client (along with their advisors) consider the cost/benefit analysis of any new arrangement along with the need to make sure that the financial solution matches the client’s individual financial and risk profile. That said, all of our products are issued or managed by top-rate insurance carriers and/or investment firms.
We look forward to discussing these financial solutions with you and your advisors to see if any of them can be helpful in achieving your financial goals while reducing your financial risks.
GREG STOPP MANAGING PRODUCER RICP - Retirement Income Certified Professional®
Background and Unique Value Proposition:
Greg specializes in retirement income planning. Throughout his career, he has focused on educating individuals and families on the importance of creating a comprehensive financial plan that will provide them with income needed to maintain their lifestyle throughout retirement.
His expertise in tax-deferred annuities began with Independent Advantage Financial & Insurance Services (IAF) in Marina del Rey, CA. After almost a decade with IAF, Greg was recruited by Smith Barney to lead a team specializing in tax-deferred investments.
It is his personalized approach to understanding clients’ needs combined with his knowledge of financial strategies to secure retirement income that make Greg an invaluable and appreciated partner in financial planning. Greg has built strong relationships with clients as they transition from work to retirement, “It’s rewarding to help pre-retirees and retirees with strategies and solutions that provide them with confidence and peace of mind as they enter retirement.”
Greg earned a bachelor’s degree in Business Administration from California Baptist University, where he was a member of the men’s basketball team. Greg lives in Long Beach, CA with his wife, two sons, and their dog, Murphy.
DON PREHN, CLU, CHFC
GREG STOPP
