Northern Pacific Asset Management

If you own an annuity, you probably chose it for safety — a guaranteed income stream backed by a life insurance company you trusted.

But here's what most annuity holders don't realize: private equity firms now control or influence over $700 billion in life insurance assets. They've shifted the portfolios backing your guarantees away from traditional bonds and into private credit — investments that are harder to value, harder to sell, and have never been tested at this scale in a real downturn.

We published a detailed breakdown of what's changed, which carriers are most exposed, and what you can do about it.

Your annuity contract may look the same. The balance sheet behind it doesn't.

Read the full article here: https://northernpacific.us/hot-topics/private-credit-risk-annuities-pe-owned-insurance-companies-2026/

Is Your Annuity Backed by Wall Street's Riskiest Bet? Private equity firms now control over $700 billion in life insurance assets. See the full list of PE-owned carriers and find out if your retirement income is exposed to private credit risk.

Does Washington State's new 9.9% income tax change your business's value? Which industries are most exposed? Is the pre-2028 exit window real?

We cover business valuation, the relocation question, and what the data actually says.

Read Part 4: https://northernpacific.us/hot-topics/washington-millionaires-tax-business-valuation-exit-planning-relocation-2026/

Does Washington's Millionaires Tax Reduce Your Business Value? Exit Planning, Industry Impact & Relocation SB 6346 changes the after-tax economics of owning, selling, and building a business in Washington. Here's what it means for your valuation, your exit, and your competitive position.

Live in Washington, work in Oregon? Washington State's new 9.9% income tax stacks on top of Oregon's 9.9% rate and Portland Metro's local taxes. The marginal rate on the highest dollar of Oregon-source income can reach 52.6%.

We break down the cross-border math, RSU scenarios, and planning strategies for the Portland-Vancouver corridor.

Read Part 3:

Washington's Millionaires Tax & the Oregon Border: What You Need to Know SB 6346 ends Washington's zero-income-tax advantage for high earners near the Oregon border. Here's what changes for commuters, business owners, and property owners.

Washington State's new millionaires tax changes the math for trusts. Grantor trusts, non-grantor trusts, ING trusts — each is treated differently, and the legislature blocked the most common workarounds.

If your estate plan was built for a no-income-tax state, it's worth a second look before 2028.

Read Part 2: https://northernpacific.us/hot-topics/washington-millionaires-tax-trusts-beneficiaries-grantor-non-grantor-2026/

Washington's Millionaires Tax & Trusts: What Grantors, Trustees & Beneficiaries Need to Know SB 6346 taxes individuals — but trust income flows to individuals. Here's how every trust type is affected and what to plan before January 1, 2028.

Washington State just passed a 9.9% income tax on households earning above $1 million. The tax takes effect January 1, 2028.

We've published a four-part series covering everything affected residents, business owners, and families need to know — from trust planning to cross-border tax stacking to business valuation and exit strategy.

Read the full series: https://northernpacific.us/hot-topics/washington-millionaires-tax-sb-6346-high-earners-business-owners-2026/

Washington's 9.9% Millionaires Tax Just Passed the House. Here's What to Do Next. SB 6346 imposes a 9.9% tax on household income over $1M starting 2028. Seven planning strategies for high earners and business owners in the Puget Sound.

Washington's tax landscape just changed.
The House passed a 9.9% income tax on households earning over $1 million — and the Governor says he'll sign it.

If you're a high earner, business owner, or tech executive in Seattle, Bellevue, or the Puget Sound, the two-year window before this takes effect is your time to plan.

We wrote a comprehensive guide covering what's in the bill, what's exempt, and seven strategies to consider before January 1, 2028.

Read it here → https://northernpacific.us/hot-topics/washington-millionaires-tax-sb-6346-high-earners-business-owners-2026/

Washington's 9.9% Millionaires Tax Just Passed the House. Here's What to Do Next. SB 6346 imposes a 9.9% tax on household income over $1M starting 2028. Seven planning strategies for high earners and business owners in the Puget Sound.

🚀 2025 Business Exit Alert: Tax Strategies Supercharged by the One Big Beautiful Bill Act!

Signed into law on July 4, 2025, the One Big Beautiful Bill Act is reshaping how business owners sell—permanently extending TCJA benefits, boosting QSBS exclusions to $15M per shareholder (with tiered 50-100% exclusions for shorter holds), locking in the 20% 199A deduction, and raising estate/gift exemptions to $15M ($30M for couples) starting 2026.

These reforms provide major advantages for SMB owners in manufacturing, transportation/logistics, oil & gas/energy, tech, biotech, healthcare, or professional services—potentially saving millions in capital gains and estate taxes on your exit.

Our latest guide reveals the optimal strategies:

✅ Leverage enhanced QSBS for tiered exclusions (50-100%)

📈 Time your sale to maximize deductions and lower capital gains

🔑 Restructure stock for better tax treatment

🛡️ Integrate estate planning to protect generational wealth
Don’t miss this opportunity—plan your tax-efficient exit today!

OBBBA 2025: $15M QSBS Exclusion & Permanent 199A for Business Exits The One Big Beautiful Bill Act expands QSBS to $15M, makes 199A permanent, and boosts estate exemptions. Tax strategies for entrepreneurs selling businesses.

🔥 Why Your Advisor Gave You the Exact Same Portfolio as Your Friends
(And Why Our Clients Fire Them)🔥

A lot of advisors hand out the same "safe" template to everyone—load up on broad ETFs/mutual funds, add bonds, sprinkle some alts, and rebalance annually.

It works... for some people.

But if you built your wealth through bold moves, calculated risks, and going against the grain, why settle for a one-size-fits-most portfolio?

Our clients aren't settling. They're upgrading to Sustainable Advantage®—a custom-built strategy that matches the conviction that made them successful.

What makes it different?

✅ iCore™ — Own elite companies forever (very little turnover, massive tax efficiency)

📈 Dynamic Factor Overlay™ — Real-time shifts across quality, value, momentum for smarter performance

🛡️ Fortress Reserves — Cash, Treasuries, and physical gold/silver to dominate volatility and inflation

💰 Income Engine — Tax-smart quarterly payouts without touching your core holdings

Your wealth isn't cookie-cutter. It shouldn't be managed that way either.

Ready to get the portfolio that actually reflects how you built your empire?

Check out the full breakdown:

Why Your Advisor Gave You the Same Cookie-Cutter Portfolio as Your Friends — And Why Our Clients Fire Them Most $5M+ investors get pushed the same boring index-heavy portfolio. Discover why it's mediocrity in disguise — and how we build truly personalized, concentrated portfolios with conviction, just like you built your business.

🔥 Are Your Political Beliefs Quietly Sabotaging Your Retirement? 🔥

In today's polarized world, it's easy for ideology to sneak into your portfolio—and it might be costing you big time.

Progressive investors on the West Coast often underweight natural gas, viewing it as "unacceptable" despite its critical role:

Powering over 70% of homes in key regions for heating & cooking

Serving as a bridge fuel for renewables and grid stability

Fueling the AI boom—data centers could eat 6-12% of U.S. electricity by 2030, and grid constraints are the #1 barrier

Behavioral traps like confirmation bias, loss aversion, herding, and anchoring are silently driving these decisions, leading to overconcentration in volatile "green" assets and missed stable returns from essential sectors.

Result? Many investors are leaving money on the table because of unexamined biases.

At Northern Pacific, we help clients step outside echo chambers with our Sustainable Advantage® process: data-driven, bias-aware investing that aligns your values and maximizes returns—without letting politics override fundamentals.

Ready to audit your portfolio for hidden ideological blind spots and build a truly resilient retirement?

Read the full article now:

Natural Gas & AI: Hidden Biases Costing West Coast Investors Their Edge For progressive West Coast investors: How overlooking natural gas in AI power generation and Tesla robotics could undermine your portfolio. Get bias-aware strategies for resilient wealth.

🚀 Business owners: Don't get caught off-guard by the One Big Beautiful Bill Act! Signed into law in 2025, this major tax reform permanently extends key TCJA provisions, restores 100% bonus depreciation, expands Section 179 expensing, and more—potentially slashing your capital gains tax burden when selling your business.

Our latest guide breaks down how these changes impact business exits: lower effective rates on gains, enhanced deductions, and strategies to maximize proceeds in a tax-efficient way.

Whether you're planning a sale soon or just preparing, this is a game-changer for SMB owners.

OBBBA Tax Reforms 2025: QSBS, 199A & Exit Strategies for Business Owners The One Big Beautiful Bill Act expands QSBS exclusions, makes 199A permanent, and reinstates bonus depreciation. Strategies for tax-free gains and wealth preservation on business exits.