A sense of frustration grew within as he witnessed affluent individuals consistently recoil at the high premiums associated with life insurance – a cost that only exacerbated existing tax and legacy challenges. His conviction to offer a solution solidified when a prominent U.S. law firm approached him.
“You are one of three insurance professionals we are considering for a client requiring $50M of insurance.”
This presented a unique opportunity for Manuel (Manny) Vidal, Founder and CEO of Premium Finance Group (PFG), as he proposed a bold strategy. He would personally cover the initial premium, eliminating a significant financial hurdle for their client. It was a calculated risk, but Manny believed in the transformative potential of this approach. After presenting his proposal, he awaited their response.
Three days later, the phone rang. It was the law firm instructing Manny to proceed with the order.
This moment was an epiphany for Manny. It represented a paradigm shift in how affluent individuals viewed life insurance. More importantly, it forged a lasting bond. The client, a renowned entertainer, remains a valued client to this day, a testament to the impact of Manny’s innovative solutions.
A Journey towards Financial Security
Manuel, or “Manny” as his colleagues know him, began his impressive career in banking. As a Vice President at Citigroup, he spearheaded the introduction of innovative financial products across Latin America. This early success laid the groundwork for his next venture, the life insurance industry.
Manny has thrived as a top insurance advisor and producer for the last two decades, collaborating with prominent U.S. and international insurance companies. During his tenure with AXA-Equitable Life Insurance, dedication earned him consistent recognition. He was ranked among the company’s top 10 producers nationwide and was inducted into the prestigious AXA Advisors Hall of Fame in 1995.
Manny’s ambition led him to John Hancock, where he assumed the role of Managing Director. Under his leadership, John Hancock established the nation’s leading Life Insurance Premium Finance platform. This accomplishment showcased his keen understanding of the market and ability to develop innovative solutions.
Driven by a vision to address the specific needs of high-net-worth individuals seeking insurance policies, Manny founded Premium Finance Group (PFG) in 2002. Shortly after, he cemented his reputation by securing the largest International Corporate Owned Life Insurance (COLI) sale ever recorded with a leading offshore insurer. This ground-breaking deal exemplified Manny’s commitment to exceeding expectations.
Beyond his professional endeavors, Manny holds a Bachelor’s degree in Business from Florida State University. While at Citibank, he further honed his expertise by attending the Wharton School of Business. Here, he completed focused studies in Foreign Market Entry Strategies. This dedication to continuous learning empowers him to steer the intricacies of global finance. Notably, Manny’s fluency in English, Spanish, and Portuguese allows him to connect with a diverse clientele on a deeper level.
Today, Manny stands as a valuable resource for individuals seeking guidance on domestic and international life insurance opportunities. His extensive experience, coupled with his innovative spirit, makes him a trusted advisor in financial security.
Steering Through Economic Storms
Manny’s leadership is defined by his commitment to client guidance, especially during turbulent economic times. Whether steering market downturns or rising interest rates, he prioritizes building and nurturing client trust. This trust is fundamental to the firm’s ability to adapt product offerings seamlessly. The exceptionally low employee attrition rate of under 2% is a testament to Manny’s leadership.
His leadership philosophy is grounded in accessibility, professionalism, and a relentless pursuit of knowledge. His team maintains a competitive edge, by creating an environment of continuous learning and staying ahead of industry developments. This proactive approach solidifies client trust and loyalty, contributing to the Premium Finance Group’s enduring success.
A Legacy of Financial Stewardship
“Premium Finance Group’s mission is to ensure that your family and loved ones, your estate, and your business are protected.”
Premium Finance Group is a family-owned enterprise with a rich history spanning over three decades. Born from a deep-rooted commitment to providing exceptional financial solutions, the company has evolved into a global leader in premium finance.
Premium Finance Group empowers clients to finance their entire premiums at highly competitive interest rates by specializing in unlocking the full potential of life insurance policies. It provides services like premium finance, family and wealth protection, business succession planning, Insuring key employees, universal life insurance, and term insurance.
This innovative list of services is made possible through a robust network of prestigious global banks and financial institutions, ensuring clients consistently secure optimal financial outcomes.
As a pioneer in the industry, Premium Finance Group stands out as one of the few platforms in the United States capable of offering premium finance services to international clients. This unique capability underscores the company’s global reach and commitment to serving a diverse clientele.
Beyond its financial expertise, Premium Finance Group is renowned for its unparalleled knowledge of the insurance landscape. As a premier provider of cutting-edge life insurance solutions, the company collaborates exclusively with top-rated insurers in the United States and offshore markets. This strategic partnership allows PFG to offer clients access to the most competitive and reliable insurance products available.
With an extensive network of esteemed insurance firms in key global markets, Premium Finance Group operates with meticulous adherence to regulatory standards and ethical principles. This unwavering commitment to integrity has solidified the firm’s reputation as a trusted advisor and industry leader.
| Website: | http://www.premiumfinancegroup.com |
| Industry: | Insurance |
| Headquarters: | Miami, Florida |
| Founded: | 2002 |
| Specialties: | Financing of Large Life Insurance Policies, Key Man Insurance, Buy Sell Agreements, Estate Planning, Business Succession, and Charitable Donations |
Risk-Mitigated Growth Strategy
“We’re fortunate that, given the design of our product, we don’t need to innovate or take a risk to stay the course.”
By providing clients with a guaranteed floor of 0% and a cap of 10%, the product effectively eliminated downside risk. This allowed PFG to focus exclusively on growth strategies.
It relied on word-of-mouth referrals to identify potential marketers. Those individuals exhibiting the desired sales abilities were then enrolled in a training program emphasizing on-the-job learning.
Since its inception, PFG has solidified its position as the industry leader in premium finance. Leveraging an extensive network of global financial institutions, it ensured clients had access to a wide array of financial solutions. As one of the few platforms offering premium finance to foreign nationals in the United States, the firm has carved out a distinctive niche in the market.
A Foundation of Resilience and Growth
The firm’s initial phase was marked by the challenge of achieving the requisite production levels to sustain operations. However, technological advancements offered a solution. By granting clients direct access to carrier platforms, Premium Finance Group empowered them with real-time product performance tracking, enhancing overall client satisfaction.
To expand its product and service offerings, the company forged a strategic alliance with a premier multifamily group, gaining access to industry-leading solutions.
A pivotal moment in the firm’s growth trajectory arrived with the favorable interest rate environment of 2002, which catalyzed exponential expansion.
Premium Finance Group’s enduring success can be attributed to its commitment and original business plan, despite encountering various obstacles. A steadfast belief in its mission and a robust succession plan secured continuity for clients, solidifying its position in the market.
Premium Finance Group is making that a reality for clients by working to ensure it offers the best solutions, products, and lenders.
