Randy Siller has made a name for himself not only through his knowledge of finance, but—even more importantly—through his zeal for serving clients. Unfortunately, this is not something one could say about all financial professionals; there are members of this profession who downplay the importance of client communication and relationship-building, believing the entire financial process effectively autopilots itself. Not so with Randy P. Siller; he has amassed a long list of clients through his decades-spanning career, and he has done so by putting his client’s first.
Currently, Mr. Siller is a name partner and co-founder at Siller & Cohen, a family wealth advisory firm known for providing a wide range of financial services to its many clients.
Read on to learn more about the history of this firm, and what it does. Also learn more about Mr. Siller himself, and the ways in which he works zealously to distinguish himself, and to put the needs of his clients above all else.
Randy Siller at a Glance
Mr. Siller is nothing if not well-versed in his field. He carries with him several professional accreditations: CPA, CIMA, and CRPC. He also has a Masters in Taxation. A few further bullet points about Mr. Siller include:
- He is a Certified Investment Management Analyst™, professional. This designation is made by Investment Management Consultants Association in conjunction with the Wharton School of Business.
- His contributions to influential financial books, including Marshall Loeb’s Lifetime Financial Strategies and 52 Weeks to Financial Fitness. Both contributions help to showcase his ability to condense high-end financial acumen into practical, understandable, consumer-oriented steps.
- He is a member of, and a frequent guest presenter at, The International Forum, the premier national organization for professionals offering life insurance solutions.
- He is a member of the Estate Planning Council of New York City, Inc.
- He is a proud member of the State Societies of CPAs, in both New York and Connecticut.
- His words have been quoted in the pages of several prestigious publications, which have cited Mr. Siller asexperienced in his field. A partial list of these publications includes Time, Fortune, Your Company, and Financial Planning.
- Mr. Siller has served on the Security Committee of John Hopkins University.
- Mr. Siller has successfully completed the Financial Leadership Program at Harvard University.
About the Firm
The above list illustrates some of the important professional details concerning Randy P. Siller. Now, a few words about his firm are in order.
Siller & Cohen is a boutique family wealth advisory firm that has been providing comprehensive financial solutions to high net worth individuals, families, and business owners for 25 years, and has developed for itself a reputation for excellence. Mr. Siller’s firm belief is that, in an ever more complex world, affluent families need a financial services firm that will take responsibility for coordinating all of their planning needs, acting as a quarterback, working in concert with their other professional advisors, and making sure that everything that needs to be done is done properly and on a timely basis. For that reason, he and his partner have assembled a team of investment, legal and accounting professionals with years of experience, including attorneys, Certified Investment Management Analysts,CFP®’s, and others with advanced degrees in taxation.Randy Siller and his team are proud to combine the detail, careful attention, and exceptional personal service of a smaller independent firm, back by a subsidiary of a Fortune 500 company.Helping their clients to identify and crystalize their financial goals and objectives –and then doing everything within their power to help their clients achieve those goals – is how Siller & Cohen measures success.
Randy Siller’s Family Wealth Advisor Services
Siller and his colleagues at the firm offer a number of services to clients, ultimately seeking to provide security and stability to clients in all stations of life. Those services in include investment management, sophisticated estate planning strategies, financial independence planning, and business succession planning.
Investment Service and Financial Independence Planning:
Randy Siller’s clients have significant investment portfolios. Based on their objectives and risk tolerance, Siller & Cohen designs portfolios for them with the greatest chance of achieving their goals, using Modern Portfolio Theory, the Efficient Frontier, and Monte Carlo Analysis. The firm introduces them to “best of breed” investment managers, and then help them select the appropriate managers for their portfolio. Every client benefits from the following services:
- An Investment Policy Statement, carefully developed with the client’s input, and updated every year, that sets forth the agreed upon return objectives, risk parameters, and liquidity needs of the client’s chosen portfolio.
- A review of the client’s portfolio, and every investment manager, every quarter.
- Formal meetings with us to review the performance of their portfolio, and to review how the client is progressing towards their investment goals.
- The annual rebalancing of the client’s portfolio based on updated capital market assumptions and the updated Efficient Frontier.
- Asset location planning – to reduce the erosion of you portfolio by income taxes.
- An annual letter, to facilitate year-end tax planning, setting forth the client’s realized and unrealized gains and losses for the year. We also offer a year-end tax planning conference call with our firm, the client, and his or her accountant.
Sophisticated Estate Planning:
Many of Randy Siller’s clients have estates that will be subject to significant estate taxes. Siller & Cohen helps reduce those future taxes significantly, in many cases saving them and their families multi-millions of dollars. Every client benefits from the following services:
- A careful review of appropriate estate planning designs and strategies, ranging from basic to sophisticated and multi-generational, including SLATs, GRATs, sales to intentionally defective trusts, charitable and other strategies.
- Financial modeling (1) to determine which strategy will provide the best tax saving result, and (2) to confirm that each client can afford to do the estate planning and still retain sufficient assets to comfortably carry him or her through retirement.
- A detailed outline of the final estate plan design, including a detailed letter, and diagrams that help illustrate often complex designs in an easily comprehensible manner.
- Our coordination with their attorney, who will draft the legal documents, and our in-house attorney’s review of the final legal documents to confirm that they reflect the client’s desired design.
- Our oversight of the implementation of all aspects of each client’s estate plan.
- If requested, our ongoing monitoring of each client’s estate plan, and an annual review meeting with each client to confirm that the plan is moving towards achieving his or her changing goals and objectives, as they may change over time.
Business Succession Planning
Randy Siller knows well that for the owners or founders of businesses, the various planning considerations can prove complex, even daunting. The firm begins by seeking to understand what it is that has driven the company—and made it successful—for so long. Understanding the underlying philosophy of a business is vital for preserving it and guiding it as it plans for the future.
Siller & Cohen also seeks to understand the extent to which business continuity planning is intertwined with personal estate planning. For privately and closely-owned businesses, this is a central consideration. As such, ensuring consistency between both disciplines is necessary for protecting the interests of the business and the individual.
A Life of Service
All of this points back to Randy Siller as a man who is committed to the notion of service—and whose life hinges upon it. Indeed, this is a man whose professional certifications and achievements speak volumes, but they reflect only a part of who he is. What his work with Siller &Cohen has ably demonstrated is that, even beyond these achievements, his career is marked by a zeal for service. In all things and on all occasions, Randy Siller strives to put the needs of his clients above all else.
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