Description

Steven Zeiger is the Managing Director of Wealth Management at KB Financial and a nationally recognized authority on applying prudent investor guidelines to life insurance selection and portfolio management. Grounded in established asset management doctrines, Steven helps fiduciaries, attorneys, and ultra-high-net-worth families make compliant, data-driven decisions. Before joining KB Financial, he led marketing for a Texas-based firm specializing in Private Placement Life Insurance. Steven earned his BS in Business Administration with a Finance concentration from SUNY Albany and later received his advanced insurance degree from the Wharton School of Business—his mission: to bring transparency, research, and fiduciary discipline to life insurance.

In this episode, Leonard and Steven discuss:

• Why life insurance is often misunderstood and mismanaged, even by fiduciaries
• How to use independent research and benchmarks to compare insurance policies
• The risks of single-carrier policies and the importance of diversification
• How regulatory frameworks like the Uniform Prudent Investor Act apply to insurance
• Real-life examples of clients overpaying millions due to a lack of transparency and oversight

Key Takeaways:

• Too often, life insurance policies are purchased and forgotten—unlike investment portfolios that are reviewed regularly. Ongoing monitoring is essential to avoid costly mistakes and ensure alignment with evolving goals.
• It’s not just about what you pay in premiums; what really matters is the hidden internal cost structure of the policy. These expenses can dramatically affect both cash value growth and long-term performance.
• Putting all your life insurance with one carrier is a high-stakes gamble. Just like in investing, spreading risk across multiple strong insurers is a smart and necessary strategy.
• Regulatory bodies like FINRA and New York’s Regulation 187 make it clear: fiduciaries must act with care, diligence, and a foundation of unbiased, data-driven evaluation when recommending life insurance products.
• Third-party analysis from firms like Veralytic and Morningstar can uncover massive differences in policy costs—sometimes saving clients millions. These tools empower advisors to make truly informed decisions.

“A $50 billion company will always have the upper hand—unless someone’s standing between them and the consumer. That’s why you need people like me and Leonard. We’re here to protect clients from decisions they don’t even know are risky.”

- Steven Zeiger

Connect with Steven Zeiger:

Website: https://www.kbfinancialcompanies.com/ 

LinkedIn: https://www.linkedin.com/in/stevenzeiger/ 

Email: steven.zeiger@onedigital.com 

Connect with Leonard Raskin:

Website: https://www.raskinglobal.com/ 

LinkedIn: https://www.linkedin.com/in/leonardraskin/ 

Facebook: https://www.facebook.com/RaskinGlobal 

Email: lraskin@raskinglobal.com  

Leonard’s BOOK: FiduciWho?: What a Real Fiduciary Will Tell You about How to Protect, Grow, Enjoy, and Transfer Your Wealth

Show notes by Podcastologist: Angelo Paul Tagama

Audio production by Turnkey Podcast Productions. You're the expert. Your podcast will prove it.