LifeTrust3D™ was created to help people love life insurance again. Yes, life insurance is a dynamic asset that may have many moving parts, may have been sold with unrealistic expectations or may not have been properly explained. But it does something no other financial tool in the world can do – provide financially for a wealth creator’s family, charitable intentions, estate planning wishes and lifetime legacy at the unknown time the wealth creator is no longer here to do it himself or herself. Have you ever heard of a life insurance beneficiary ask, “What type of policy did _______ provide for us?" Many times, they may not even know the name of the insurance carrier.
That is why our philosophy is a little different at LT3D – EVERY policy receives the same due diligence every year regardless of its type. With the wealth creator's trust owned purpose in mind, we pay special attention to every policy put in place. Acting in a co-fiduciary capacity, we work relentlessly towards ensuring a best possible outcome for all policies we manage.
Specifically, LifeTrust 3D™ was created to meet the needs of corporate trustees, family offices, individual trustees and fiduciaries working to employ a best practices methodology and system for the on-going management and monitoring of significant life insurance portfolios. Each step of our process meets the suitability standards set forth by the Uniform Prudent Investor Act.
LifeTrust 3D™ did not come from nowhere! We evolved from Colton Groome & Company, a third-generation, 60 year old, independent life insurance agency in Asheville, NC. My father, George M. Groome, President & CEO of Colton Groome & Company, began fee-based life insurance consulting and policy management work over 15 years ago. In the prime of his career, he learned the value he could provide for Family Office CFO’s managing multiple policies sold by multiple agents. He started charging fees to gather all policy information for the CFO and provide one, integrated and consolidated Annual Insurance Review for the family office. This saved the CFO time and headaches from meeting with multiple insurance agents that may not have been providing the same level of policy service. This was the seed that sprouted LT3D.
Over a decade ago, I joined my father in employing a solution called the TOLI Expert system™. Presented in a large, spiral bound notebook, the TOLI Expert system™ was designed for our clients with multiple trust-owned policies. By 2011, we realized the notebook version for comprehensive policy reviews for significant insurance portfolios had become antiquated, so we partnered with Mike Pepe and the TOLI Vault™ group, who developed the industry's leading technology platform.
Colton Groome & Company has grown substantially over the years and is now recognized nationally by National Bank Trust Departments and Family Offices as a preferred provider. Separate from the insurance business, the demand had become so strong for our insurance consulting, and policy managing and monitoring work, it was clear that it needed to become its own, unique entity.
Today, LT3D has successfully combined the experience & knowledge of a third-generation, family-owned insurance firm, and the world’s leading technology to provide a truly unique and value-packed solution for trustees, fiduciaries, grantors & beneficiaries when it comes to Trust-Owned Life Insurance and Annuities.
While you will love us for the culture and attitude we bring to the equation, we take our job seriously, and even agree to contractually enter into a co-fiduciary role with our clients.
Thank you for taking the time to learn about our firm. It would be our pleasure to be a resource for you, your firm and your family.
G. Tate Groome, CFP®, CLU®