In the ever-evolving realm of finance, where trends are in constant flux, Marlene Windmiller is a recognized authority in developing customized wealth planning strategies for HNWIs and families. With an impressive career path in life insurance premium finance and as a prominent figure at ARI Financial Group, Windmiller’s journey and accomplishments offer valuable insights for ambitious professionals. In an exclusive interview with Haute Living, she generously shares her experiences, shedding light on the strategies and principles that have propelled her to success.
Photo Credit: Courtesy of Jennifer Lee Photography
Tell us about you and what led you to your career path.
My current role is my third career in three different industry sectors. I graduated law school in 1990, right in the middle of the economic downturn of the 90s, and began my career as a bankruptcy litigator, representing creditors in Chapter 11 reorganizations. This experience taught me the difference between good and bad debt and the importance of balancing risk exposure between different asset classes.
When my kids were young, I made my first career change transitioning from the practice of law to starting a recruitment firm that placed attorneys in international law firms and banks. It was after 16 years in the placement industry, that I was introduced to Eric Bouskila as a potential prospect for premium finance. He was in the midst of finalizing a joint venture partnership with a NY-based bank, and upon hearing my background, he encouraged me to consider a career in building his burgeoning business.
My bankruptcy and recruitment background have dovetailed nicely with the business of premium financing of life insurance. Given my conservative risk tolerance, I was impressed with the quality of whole life insurance as an investment. It has the “shine” of an alternative asset class yet acts as the ultimate haven from market risk and volatility. I saw its value as a preservation planning tool for high-net-worth individuals who can appreciate a hedge against other market-exposed investments– stocks, bonds, real estate, etc. However, the true appeal for me was the value proposition of using leverage to purchase this asset class.
What drew you to ARI Financial Group? How would you describe your journey there?
Frankly, I was drawn in by what I perceived as an untapped opportunity. I saw few true, quality advisors in the high-net-worth insurance space and perceived a real need to promote premium finance as a credit strategy. I also saw tremendous potential in partnering with private banks to build out their own insurance capabilities.
I had no prior experience in insurance or asset-based lending per se; I was only drawn in by the scale of the opportunity. Once I became thoroughly versed in the benefits of whole life insurance as an asset class combined with finance, I was further excited to promote our capabilities.
Our joint venture business model has been foundational in our success. I’ve had tremendous success working with bankers and expanding relationships with their clients while creating new sources of revenue. I have been integral in extending the joint venture business model to develop partnerships worldwide with banks, family offices, law firms, and tax advisors.
While there is an abundance of wealth planners and insurance product specialists, few professionals can counsel clients on wealth preservation strategies via the financing of insurance products.
How is ARI Financial different from its competitors?
Our firm excels at offering customized wealth preservation strategies for high-net-worth individuals.
“We don’t merely sell insurance products and then source financing, which I would argue is what most premium finance providers do. We take it up a notch and function as true advisors by cherry-picking insurance products, diversifying carriers, and providing options for alternative financing methods, ” said Windmiller.
Since every individual and family has different needs and motivations, I don’t have a client whose insurance structure or financing is the same.
The scope of our global products and financing capabilities is another distinguishing feature of our firm’s value. Our clients are global citizens who often hold more than one passport and reside in multiple jurisdictions: the US, Europe, the Middle East, and Latin America. To meet these needs, we have expanded our presence globally by establishing a Swiss FINMA registered affiliate in Zurich and representative offices and affiliates in Tel Aviv, Panama, Buenos Aires, and, upcoming, in 2024, Dubai.
Photo Credit: Courtesy of Jennifer Lee Photography
How have your prior career experiences influenced your success?
Each of my roles has required me to be an assertive advocate on behalf of my clients. I’ve learned in each field– law, recruitment, and insurance– that the best advocates master the ability to be solution-oriented advisors.
“Great advisors must be great listeners, and great listeners can provide the best solutions,” said Windmiller.
In my current role, our clients value our customized wealth preservation strategies. As an advisor and advocate for my clients, I listen closely to their concerns about finding the most cost and tax-efficient ways to achieve their goals, whether it’s business or succession planning, liquidity needs, or generational wealth transfer.
I have developed long-standing relationships with clients and, by extension, their families and business partners because I am focused on providing long-term solutions.
Tell us about your mentors. Who have been your strongest influences in life? What are some of the best lessons they’ve taught you?
My mother was the person who best prepared me to meet challenges and find success in my professional life. She instilled in me a desire to seize opportunities, confidence in my ability to learn and improve, and, most importantly, she emphasized the importance of grit. She assured me of two things: first, that I would find failure in life and in business, and second, I would get over it.
As harsh as it sounds, she meant that I must develop the ability to encounter failure with thick skin, learn from the experiences, and then brush myself off and forge ahead. My mother’s creed, i.e., “learning to fail and learning from failures,” is the best advice she unknowingly gave me. I have the confidence and determination to conquer challenges and the ability to be open to change, learn, and grow.
She also focused on the fact that, as a woman, I would have to work harder and smarter than my male counterparts. I never truly appreciated her coaxing until I found myself in a bankruptcy courtroom when I was 25 years old, and the older, more experienced male counterparts snickered when I approached the bench to argue motions. Being over-prepared, having grit, and having a sense of humor have been integral to my personal and professional success.
Photo Credit: Courtesy of Jennifer Lee Photography
What to you is the most incredible luxury in life and why?
Time and travel. Balancing my career with family life and motherhood has always been a challenge, especially when I was a single mother. This is why I have always valued travel with my daughters and now with my new husband. Even now that my daughters are grown, travel has become an even greater opportunity to connect, relax, and enjoy each other and the world. We have traveled throughout the US, Europe, the Middle East, Central America, and parts of South America. This fall, I traveled to Australia and Asia with my husband, and I hope to return with my daughters next time.
And I can’t lie… I also have a soft spot for nice shoes.
How do you stay motivated and inspired in the face of setbacks and challenges?
Difficult business environments create challenges because people have a mindset of fear. When the economy is booming, it’s always easier to conduct business.
I overcome this passive resistance by going back to the basics of life insurance, whole life specifically, as the best defense line against economic downturns. The value proposition of whole life insurance is evident in a challenging economic climate because it provides more protections and guarantees than any financial asset in the market. When people understand the fundamental protections and tax benefits afforded by life insurance, the hurdle is cleared.
Finally, in terms of career advice, my daughters are my biggest inspiration. I have always wanted them to see me as someone who embraced change and innovation with confidence. A woman who took on challenges and sought opportunities to learn, grow, and develop.
ARI Financial Group embodies all that I have come to value in terms of professional opportunities and goals. The boutique nature of our firm allows us to be responsive and innovative in the ever-changing global economy. The ability to pivot, innovate, and strive to be the best in class makes my current role the most satisfying.
Learn more about Marlene & ARI Financial Group.
Written in partnership with ARI Financial Group.
