“How do you find a financial guide who truly understands the many moving parts of a business owner’s financial picture?” asks George Lee. “I found my way to this career through personal need” he explains.
A second-generation immigrant, and the son of a business owner, George exudes energy and drive from the moment you meet him. As a young entrepreneur, he invested in an international financial media venture, helped the company go public, and eventually took the helm as President and Chairman. After selling a portion of the company, he stepped down and considered his next step in life. But first, he needed to hire a competent advisor to assist him with complicated stock options, tax efficient decision making, downside protection, and how to create lasting legacy. “I searched for an advisor who had walked in my shoes, but I couldn’t find one” he says.
With hindsight, George recognizes he should have started the process of identifying an advisory team much sooner. Increasingly frustrated with the effort required to find advice that was untainted by products and company affiliations, and a single firm that could address all of the facets of his need, he decided to manage his own wealth. “There were plenty of credentialed advisors,” George admits, “but a purely academic understanding of personal finance does not suffice; it must be enhanced with extensive professional and personal life experience.”
Today, as the founder of 1847 Premier Group, a boutique firm based in the New York/New Jersey metro area, George and his team of specialists offer business continuation strategies and financial advice to successful entrepreneurs and practicing professionals. Every engagement begins with a comprehensive financial plan. “We help our clients leverage their hard-earned assets in every way possible,” says George. “Our mission is to make sure our client’s financial future is set, and that means no mistakes, and no ‘do-overs.”
George Lee founded 1847 Premier Group to address precisely the types off challenges he faced as a consumer. After a successful first career leading an international financial media company, he found himself with considerable assets, and zero guidance on what to do next.
With hindsight, he wishes he had started thinking about finances much earlier in life. “You don’t hire a lawyer when you are facing a lawsuit; the same rule applies to your financial advisor” he says.
George wondered how he would find someone he could trust to advise him on the constantly moving targets of tax efficiency, retirement income, estate planning, investment and insurance. “I questioned the use of proprietary products and company affiliations,” he recalls. “Academic achievements represent only so much in this field; I needed someone whose credentials were enhanced through extensive professional and personal life experience,” he adds.
From the start, George knew that the foundation of any recommendation has to stem from a fee-based financial plan. He recognized he had a real passion or the topic, and decided to become that financial planner that he couldn’t find. Today, George and his team of specialists advise attorneys, physicians, and working professionals in finance, technology, real estate and other fields on a wide range of topics. Every conversation starts with a financial plan.
Retirement income planning is an area in particular concern for many baby boomers, as is the challenge of navigating the labyrinthine Social Security system. George presents frequently on both of these subjects. “The issues that keep people up at night include market volatility and the fear of running out of money.”
George takes very seriously his fiduciary to act in the client’s best interest. “Thankfully I am in a financial position where I do not need to sell anything in order to make a living,” he states frankly. ‘My mission is to make sure my client’s financial future is set and that means ‘no mistakes, no do-overs’.”