Chic Spotlight: Out-of-the-Financial-Box Thinking Jenny Funk

Chic Spotlight: Out-of-the-Financial-Box Thinking Jenny Funk

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Cincy Chic: What is the concept of NuevoWealth?
Jenny Funk
: NuevoWealth was created to help senior Citizens celebrate life. We have found new money for seniors that they didn’t know existed by taking an unwanted or underperforming life insurance policy and selling it in the secondary market to large institutional investors for more than the cash value of the policy. This is called a “Life Settlement.”

Cincy Chic: Why is it unique?
Funk
: There aren’t many brokers in the Cincinnati area that are offering this service. As far as we know, NuevoWealth is the only resident broker in Cincinnati to offer this unique service to seniors. It’s always a benefit when you have someone local that you can deal with instead of someone long distance or out of state.

Cincy Chic: Who is the prime person to benefit from your services?
Funk:
A prime prospect would be 65 years or older, has some health conditions, own a life insurance policy of a minimum death benefit of $100k and who doesn’t need or want the policy anymore for whatever reason. Let’s see if we can put money in their pocket instead of just letting the policy lapse or surrendering it for the cash value.

 Cincy Chic: When did you officially open for business?
Funk:
We opened NuevoWealth when we were approved for our broker’s license by the Ohio Department of Insurance which was July 2007.
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Cincy Chic: What gave you the idea to do it?
Funk
: We are a CPA firm that’s taken care of seniors for over 25 years. Someone brought Life Settlements to our attention and how it could be another service we could offer to our senior clients. We researched the possibility of starting a new business offering Life Settlements for about a year before we proceeded that this is something that every senior needs to know is an option.

Cincy Chic: Where do you see the business in the next five years?
Funk:
The service of offering Life Settlements is growing very fast all over the country. As of today, only 3 percent of the population has heard of Life Settlements. Right now in Cincinnati most everyone we are in contact with doesn’t know anything about Life Settlements or has never heard of such a thing. I believe in the next few years there will be a lot more people offering this service to their clients and customers. We feel that it is our fiduciary responsibility to let every person know that either you or your parents have this option whether it fits into their financial portfolio or not.

0608TRINA.gif Cincy Chic: What are some of your hobbies?
Funk:
What I like to do on a personal level is go to Tennessee and ride and show my two horses, “Prideful Intentions” and “Windy City Girl.” They are Tennessee Walking Horses and I try and show them at a horse show at least 2 times per month. I’ve been doing this for 2 years and absolutely loving it! When I’m not with them I’m spending time with my husband, Jim and my 4 legged kids at home, 2 dogs – Nutmeg & Rocky and 1 cat – Moke. Yes you guessed it, I’m an animal lover! Besides all that, I love fishing and playing a game of golf once in awhile.

Cincy Chic: What’s your favorite thing about Cincinnati?
Funk:
My favorite thing about Cincinnati is the view when you are coming down the cut in the hill on I-75 north from Kentucky. The skyline view is breathtaking! Spending a weekend at the Radisson Hotel by the river for my 6th year anniversary was very memorable. It was at Christmastime and our room looked over the river facing Cincinnati. The Christmas shopping downtown and the horse carriage ride made the weekend!

 

 

 

 

Click here or on the play button below to see a Webcast with Jenny Funk.

 

 

 

 

 

 

PHOTO CREDITS:
Photo: Neysa Ruhl Photography
Location: Gateway Quarter
Model: Jenny Funk 
Makeup Artistry: Jocelyn Sparks, Zoë Custom Cosmetics