Professional

His story is enlightening. The lessons he learned will last a lifetime. Peter A. Racen joined his family's business in 1976 while earning his BSBA degree from the University of Missouri-St. Louis. The business was founded in 1946 by his grandfather, retired USAF Col. Ferdinand Racen. The company distributed calibrated and repaired electronic instrumentation and process controls. During Peter's 23 years of working in this family-owned business, he developed a diversity of management and leadership skills. He was on his way to developing even greater skills.

In 1985, Peter and two of his brothers signed a buy/sell agreement with their father as part of the company's succession planning. However, it was not until Peter's father's death from cancer in 1990 that they learned their father did not have sufficient life insurance to fund the buy/sell agreement. What a shock this was to the family. They never thought to ask about his life insurance benefits. After all, who really wants to discuss death? As a result of not having adequate life insurance, the company had to take hundreds of thousands of dollars out of the operation of the business to fulfill the buy/sell agreement. This was devastating to everyone in the family. Besides the financial pressures this situation placed on the business, it also created family tension.

In 1997, the company merged with another firm headquartered in Atlanta. Sadly, due to changes in the marketplace in which the company served, this former family-owned business was sold to a publicly traded company in 1999.

Peter doesn't want this same situation to become a reality for other business owners or their families. After this tragic business challenge, Peter decided it was time to help other business owners enhance and preserve the value of their businesses. Now Peter is a Financial Representative for Northwestern Mutual. He works with a variety of local business owners concerning business exit analysis, risk management, personal needs analysis, estate accumulation and distribution and incentive plans to attract top people and retain them.

As a Northwestern Mutual Financial Representative, Peter makes it his business to understand his clients' business. By listening carefully and asking the right questions, he can better understand his clients' unique needs so he can offer the most effective solutions for their business. This highly personalized approach leads to customized recommendations that will enable the client to make the right decision for them and those who depend on them.


Exit Planning Newsletters for Business Owners

Does Value Building Equal Exit Planning

The Impact of Value Drivers On Sale Price

Exits Are Inevitable, Failure Is Not: Planning a Successful Exit

Failure to Plan Has a Price

Top Excuses Owners Use to Avoid Exit Planning

What is your Business Really Worth?

Business Valuation

Leave Your Business? It's Inevitable

Headwinds

ESOP Opportunites

Value Drivers

Successful Family Transfers

Are You and Your Company Candidates for a Third Party Sale?

Elements of a Plan to Sell to Insiders

Avoiding Disaters in Insider Transfers

The Essential Business Agreement - a Business Continuity Agreement Among Owners 

Preparing for the Worst: Business-Continuity Planning for Sole Owners 

Business-Continuity Planning for Co-Owners

Death &Taxes vs. Preserving Wealth - the Final Exit Planning Contest

Which Comes First: Estate Planning or Exit Planning?

Protect Against The Pain of Exiting Your Business

Why Setting Goals is Important, Even if They Change

An Estimate of Future Company Cash Flow

How to Increase Your Business Value Using Value Drivers

Minimizing Threats to Business Value

For Business Exits, Being Inconsequential Is of Great Consequence

Avoiding unwanted surprises

What could go wrong when transferring ownership to employees?

BCI: Guiding your family even after death

Estate Planning: A small piece of a bigger pie

Setting Exit Goals for the New Year

Knowing what you have to get what you need

How does exit planning protect business value

Handling the Early Stages of Exit Planning

The Importance of Setting an Exit Date

How Emotion Affects Your Business Exit

The Two-Pronged Approach to Exit Planning

Building Business Value Through Exit Planning


Associations and Memberships

Million Dollar Roundtable Qualifying Member 2002-2003, 2006-2018 and Life Member

Court of the Million Dollar Roundtable 2015, 2016, 2017, 2018

NAIFA

Estate Planning Council of St. Louis

National Association of Estate Planners and Councils (NAEPC)

Financial Planning Association (FPA)

President of Northwestern Mutual Professional Growth Association 2015-2016

The Northwestern Mutual Professional Growth Association was organized in July 1931. The Association’s mission statement is: Inspiring Professional Growth Through Learning

Throughout the years, the Association has encouraged its members to keep current with the changing facets of the financial services industry. It has developed activities to promote CLU®, ChFC®, CFP®, and other advanced programs; and assists members in their continuing efforts to obtain knowledge.

Primary objectives of the Association are:

  • Promote professional studies within Northwestern Mutual and the financial services industry.

  • Provide quality educational programs for its members.

  • Help maintain the high professional and ethical standards associated with advanced professional designations, degrees or certifications supported by Northwestern Mutual.


Professional Designations and what they mean to my clients:

Peter Racen, CLU®, ChFC®, CASL®, AEP®, CFP® believes that continuous education benefits his clients through increased knowledge and professionalism.   

In all my professional relationships, I pledge myself to the following rule of ethical conduct: I shall, in light of all conditions surrounding those I serve, which I shall make every conscientious effort to ascertain and understand, render that service which, in the same circumstances, I would apply to myself.


CLU® - As a Chartered Life Underwriter®  Peter Racen has earned the premier credential in the insurance profession, representing eight or more comprehensive college-level courses covering all aspects of insurance planning, estate and retirement issues, taxation, business insurance, and risk management. For more than 80 years consumers have trusted this mark, which is conferred by The American College, a non-profit educator with the highest level of accreditation.

With the assistance of a Chartered Life Underwriter®, Peter can help you:

  • Analyze your overall financial situation
  • Determine the appropriate level of risk to assume
  • Protect your family's current and future financial needs
  • Achieve financial security using a wide range of insurance and financial planning tools
  • Better manage taxes for yourself, your business and your estate
  • Plan for a secure retirement
  • Safeguard your family business

ChFC® -  Chartered Financial Consultant® has completed the most extensive educational program required for any financial services credential. Each ChFC® has taken eight or more college-level courses on all aspects of financial planning from The American College, a non-profit educator with the highest level of academic accreditation.

The average study time for the program is over 400 hours, and advisors frequently spend years earning this coveted distinction. Each ChFC® must also complete a minimum of 30 hours of continuing education every two years and must meet extensive experience requirements to ensure that you get the professional financial advice you need.

Here are just a few of the many areas where Peter as a a ChFC® can assist you:

  • Creating a comprehensive financial approach
  • Protecting your assets and managing risk with appropriate levels of insurance
  • Managing taxes better for you and your business
  • Helping you secure your retirement
  • Building an investment approach to help you reach your goals
  • Enhancing the value of your estate to take care of your loved ones

CFP® - The CFP® marks identify those individuals who have met the rigorous experience and ethical requirements of the CFP Board, have successfully completed financial planning coursework and have passed the CFP® Certification Examination covering the following areas:  the financial planning process, risk management, investments, tax planning and management, retirement and employee benefits, and estate planning.  CFP® professionals also agree to meet ongoing continuing education requirements and to uphold CFP Board’s Code of Ethics and Professional Responsibility, Rules of Conduct andFinancial Planning Practice Standards.

CFP Board is a nonprofit certification organization with a mission to benefit the public by granting the CFP® certification and upholding it as the recognized standard of excellence for personal financial planning.  CFP Board owns the certification marks CFP®, Certified Financial Planner™ and federally registered CFP (with plaque design) and CFP (with flame design) in the U.S., which it awards to individuals who successfully complete initial and ongoing certification requirements. 

 


AEP® - The AEP® designation is the only graduate level multi-disciplinary accreditation that focuses specifically on estate planning. It emphasizes multiple disciplines, including law, accounting, insurance, financial planning, and trust services. The Accredited Estate Planner® brings together these diverse areas of practice into one personalized plan to assure your family’s financial well-being. You should have the highest degree of confidence that an AEP® possesses expertise, experience, multi-disciplinary focus, and a strict code of ethics. These qualities will provide you the peace of mind that only comes through expert estate planning services.

An AEP® designee provides quality professional advice, and meets the highest standards knowledge, skill, ethical conduct, and experience in estate planning. An AEP® can:

  1. Offer advice and prepare a personalized plan to help accumulate, preserve, and transfer your estate according to your objectives.
  2. Explain all of the complex estate, tax, and personal planning issues regarding your individual, retirement, and business assets.
  3. Provide personal, customized advice with respect to all of your estate and tax planning needs.
  4. Encourage the team concept of estate planning and coordinate the services of all of your professional advisors (and refer additional professionals to round out your team) to provide a comprehensive estate plan suitable to your needs.

CASL® - A Chartered Advisor for Senior Living®, is a financial services expert who has dedicated him or herself to helping their clients prepare for retirement. Having completed an advanced five-course academic curriculum and met the experience and ethics requirements as set forth by The American College.  Americans are living longer than ever before. A CASL® is educated to lead clients from middle age through retirement and assist them with the management, preservation and transfer of wealth. As a CASL® advisor, Peter Racen can provide guidance and assistance on a broad range of financial and lifestyle topics including:

  • Saving for retirement
  • Structuring distributions from pensions, 401(k)s, 403(b)s, IRAs and Social Security
  • Planning for health and long-term care needs
  • Developing effective estate planning strategies

 

The mark CLU®, ChFC®,and CASL®,is the property of The American College and may be used by individuals who have successfully completed the initial and ongoing certification requirements for this designation.

 

 

 

 

 

Peter Racen, CLU®, ChFC®, CASL®, CFP®, AEP®

Director of Estate & Business Planning

 

To learn more about Northwestern Mutual Investment Services, LLC and its financial representatives, visit: FINRA BrokerCheck