About Captive Insurance 101

Captive Insurance 101 is brought to you by Risk Management Advisors

Risk Management Advisors is a national firm specializing in the design, implementation and management of captive insurance companies and self insured plans. Our partners collectively have over 50 years of experience and are backed by a national network of world class professionals. Working with leading tax advisors and attorneys, Risk Management Advisors provides a comprehensive, integrated approach for our clients to manage their risk and protect the wealth they have created.

For more information about Risk Management Advisors, please visit us at riskmgmtadvisors.com


Providing a comprehensive, integrated approach for managing risk and protecting wealth

Meet the Team

R. Wesley Sierk III

ChFC, ACI, ARM
Director

Wesley is the President and Co-Founder of Risk Management Advisors. He is a nationally recognized expert in field of captive insurance company design, implementation, risk transfer and captive insurance company management. He also oversees Risk Management Advisors asset protection, executive compensation, and corporate benefit planning division.

Wesley has close to 18 years helping highly profitable, closely held businesses limit their risk exposure and taxes through captive insurance company planning, qualified plan structures, onshore and off-shore entities, and trust arrangements. He works with clients advisors (CPAs, Attorneys, and Financial Advisors) to insure proper due diligence and implementation of all plan designs and needs. Because of his extensive tax background, he ensures compliance with all of the existing revenue rulings and regulations.

He is the author of Taken Captive: The Secret to Capturing Your Piece of Americas Multi - Billion Dollar Insurance Industry. He is also the author of You Can Make It, But Can You Keep It? a book to teach the wealthy how to hold on much of their hard earned assets. In addition, he has authored many articles including "Facing Down High Insurance Premiums" in Builders Exchange, and "Captive Insurance Companies: They can Lower Costs and Increase Profits" from the Journal of Construction Accounting and Taxation.

The hallmark of Risk Management Advisors is its commitment to continuing education. Mr. Sierk has been recognized as a Chartered Financial Consultant (ChFC) and a Chartered Life Underwriter by the American College since 1996.

He was awarded the designation of CRIS (Construction Risk and Insurance Specialist) in 2006. He is one of the few individuals globally that have obtained the Associate in Captive Insurance (ACI) designation.

Mr. Sierk is a frequent speaker to insurance industry associations as well as legal and accounting associations on how ordinary businesses can escape the hard/soft market of insurance by creating their own closely-held insurance companies. A partial list of the many publications that have interviewed Mr. Sierk for his insight on insurance issues including Business Insurance, The National Underwriter, The Los Angeles Times, Practical Tax Strategies Magazine, and California Broker.


Max C. Jong

Director

Max Jong has been a Director and Principal at Risk Management Advisors since 2007. Since graduating from UCLA in 1994, he has been helping high net worth families and business owners with estate planning, tax deductible qualified and non-qualified plans as well as alternative tax reduction strategies.

Mr. Jong began his career at Northwestern Mutual Financial Network. Over 12 years, he built a successful practice while heading up an office overseeing over 25 financial advisors in Los Angeles and Irvine, California. The office was perennially one of the top producing organizations in the Northwestern Mutual system.

Mr. Jong recognized through his experience working in a traditional planning environment that there was a glaring need in the marketplace for creative options for high net worth families.

After retaining Risk Management Advisors to help a few of his clients with alternative risk management solutions, he decided to merge his practice and join the firm.

Mr. Jong currently serves as a Director for Fiat Lux Risk and Insurance Company. Fiat Lux is a captive insurance company established by The University of California Regents. This entity will help manage the risks of the UC system more efficiently. Mr. Jong has been active in the community for many years. He is the Chairman of the Board for Big Brothers Big Sisters of Greater Los Angeles, having served on the board for over 12 years. BBBS is the premier mentorship organization that matches disadvantaged children with a caring adult. He began his relationship with the agency as a “big brother” at age 24, matched with his “little brother” for 8 years. In his spare time, he enjoys spending time with his wife and two young children. He has also been known to play an occasional round of golf.


Jarid S. Beck

ACI, CRIS
Director

Mr. Beck is a Director and Co-Founder of Risk Management Advisors. He is a career specialist in the design, implementation and management of alternative risk management (ARM) strategies including self insured plans and captive insurance companies. Jarid has diverse insurance background which allows him to deliver technical insurance solutions to clients in a wide variety of industries including construction, real estate, staffing, manufacturing, trucking and finance.

Jarid was awarded the Associate of Captive Insurance (ACI) designation from the International Center for Captive Insurance Education (ICCIE) along with the Construction Risk Insurance Specialist (CRIS) designation from the International Risk Management Institute (IRMI). He is a noted authority on the use of self insurance and captives as a tool for companies to reduce the cost of providing group medical benefits.

Mr. Beck graduated from the University of California, Riverside with a degree in Business Adminstration.


For more information about the RMA team click here