Peter Garcia is the founder and CEO of GBS Financial and My Legacy Group based in South Florida. With twenty-five years dedicated to the insurance and financial services industry, he has experienced great success as a Bank On Yourself™ advocate and advisor.
Drawing on his background as an international private banker for a major financial firm, he has extensive experience dealing with retirees and pre-retirees, providing customized solutions and strategies from a wide range of global investments. With the purpose of helping his clients achieve their specific retirement income planning goals in today’s uncertain economy, he has earned their trust and confidence through his dedication and commitment to them.
Peter holds insurance and Series 65 licenses and a vast experience in retirement income planning. As an Investment Advisor Representative, he has a fiduciary responsibility to act with transparency and make recommendations that are in the best interest of his clients which is crucial in the financial services industry today. Always placing a great emphasis on education so he can be of the greatest benefit to his clients, he is in the process of obtaining his Master of Science in Financial Services degree.
Peter began his career with Merrill Lynch International Private Client Group, one of the world’s leading wealth management and advisory organizations. There he offered sophisticated investors insightful advice, customized solutions and responsive service. Working in Caracas, Venezuela as a private banker for over ten years, he dealt with high net worth clients in relationship to their asset management, banking, insurance, offshore estate and tax planning strategies.
Peter returned with his family to the United States where he joined New England Financial to transform and continue his career in insurance and financial services. While there he developed a strong business relationship with GBS Group, a highly reputable accounting firm in South Florida, working primarily with the Venezuelan community. He eventually became an independent insurance and financial advisor and moved his practice to be in closer proximity to the accounting firm. There he founded and established GBS Financial, a privately owned insurance and financial planning firm.
Working primarily with business owners, entrepreneurs and his growing Venezuelan clientele, he began a business relationship with Heritage Living Trust, a national estate planning and legal documents company. His business continued to grow and accelerate as he focused on tax savings strategies, estate planning, life, health and insured investment products. His financial services firm now operates under the name of My Legacy Group.
Regarding his current work with his pre-retirement and retired clients, Peter says, “Unlike the previous generation, today’s retirees care a lot about their lifestyle. The World War II generation was very frugal and made big sacrifices to save and pinch pennies. Not so with the Baby Boomer generation. While Boomers want to be good stewards of their money, they also want to enjoy their lives. To them, it’s about their lifestyle. Their lifestyle is a function of their cash flow; uninterrupted, consistent, predictable, month after month, for the rest of their lives.”
Staying current on the countless changes that are constantly taking place in today’s economy, Peter is always participating in formal educational programs and research. He is also an active member of a professional organization that meets three times a year for advanced training. This combination of continuous learning opportunities enables him to be on the cutting edge of the financial services industry.
In the process of continuously expanding educationally and professionally, Peter mastered the principals and knowledge of the Infinite Banking Concept®, a process utilizing time honored economic principals, US tax laws and the provisions of life insurance contractual guarantees to build wealth safely and predictably in any economic environment by “becoming your own banker”. In 2008, Peter also became an Authorized Bank On Yourself™ Advisor. Combining this concept with his experience as a retirement income planning strategist, he has been able to help hundreds of people learn and implement this cash flow and debt management system and combine it with guaranteed lifetime income strategies to help his retired and pre-retiree clients build wealth safely and predictably without the need to take excessive risk in the stock or real estate markets.
Peter comments, “Over the years I have worked closely with Pamela Yellen, best-selling author of the book Bank On Yourself™, as well as with Nelson Nash, best-selling author of the book Becoming Your Own Banker® and the originator of the Infinite Banking Concept®. By teaching my clients this concept I have helped hundreds of clients run their financial life like a Fortune 500 CEO, by becoming their own banker. Using the economic principles that banking institutions use, combined with the contractual guarantees of certain insurance products have proven to be highly beneficial to my clients and enabled them to save more money than they could imagine.”
He continues, “I have also introduced to my clients the values based financial planning model. This coordinated, comprehensive strategic team effort has proven to be a powerful model for my clients. I work closely with my team of subject matter experts. Each of these individuals is very good at what they do in their particular discipline. What often happens is that people have multiple advisors doing multiple things and no one is communicating with the others about what they are doing. Sometimes this results in conflicting advice and creates paralyzing problems for the client. To prevent that type of scenario from happening to my clients, I bring together the needed subject matter experts to collectively work out the best plan for them. A large part of my role as a trusted advisor is to make sure my client’s best interests are being served.”
Peter’s faith is a large component of his life and his work. He comments, “If I didn’t have the faith that I have, I never would be able to persist like I do. My faith has enabled me to become a visionary. My faith has given me this internal drive and a unique insight that has been a major contributing factor to my success. My personal mission statement comes directly from the Bible, Proverbs 3: 5-6 ‘Trust in the Lord with all your heart and lean not on your own understanding. In all your ways acknowledge him and he will make your path straight.’ That’s how I operate and I wouldn’t want to do it any other way.”
Peter has been a featured speaker at business conferences and has been featured on internet radio. He has also joined a group of the world’s leading professionals, along with noted business development expert, best selling author and speaker, Brian Tracy, to be a contributing author of the forthcoming book titled, The Ultimate Success Guide: World’s Leading Experts Reveal Their Secrets for Success in Business and in Life. Peter’s chapter in the book is titled, Taking Control of Your Financial Destiny.
Because of his outstanding success and his contribution to the financial services industry, Peter has been featured as one of America’s Premier Experts® Financial Trendsetters in Newsweek magazine. He has also been featured on the Consumer Advocate television program which will air on ABC, CBS, NBC and Fox affiliates throughout the country. Additional information about Peter Garcia and My Legacy Group can be found at www.mylegacygroup.com or by calling the firm at 954-446-6696.
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