Closely Held Businesses

Running a successful business is hard work. As entrepreneurs ourselves, we understand the unique challenges and opportunities you face. If you’re like most closely-held business owners, your business and your personal finances are inseparable.

We’ll work with you to develop a personalized financial plan with solutions designed to meet the unique needs of your business, with strategies to:

  • Integrate all aspects of financial planning for your business and your personal life to ensure success on both fronts.
  • Minimize risk by being prepared for the unexpected.
  • Recruit and retain employees with competitive benefits programs.
  • Enhance your benefits programs to reward employees who are key to the success of your business.
  • Transition your business smoothly and help maximize its value with a properly designed and funded business succession plan.

Business Succession & Continuity Planning

A recent PricewaterhouseCoopers survey found that only 22% of business owners have addressed their business succession plan in the past 5 years. Further, over half of CEO’s of privately held companies do not address the disposition of their business in their estate plans. When our clients tell us their vision for the future of their business, almost all of them desire for their business to continue after they are no longer working and want to create a profitable exit strategy for themselves and their families. Unfortunately, without a well thought-out and properly executed lifetime exit strategy, this vision will often not be the reality. Unlike many other traditional financial advisors who are only concerned with your investment portfolio or 401(k), our team is focused on helping maximize the value of your business and ensure its continued success.

We can help you design a succession plan that addresses the following areas:

  • Review of operating agreements
  • Informal business valuation
  • Assessing prospective successors and funding options (private equity, key employee, strategic acquisition, intra-family transfer)
  • Collaboration with current owners and successor owners
  • Funding analysis of existing agreement
  • Coordination with your CPA and attorney

Executive Benefits

As a business owner, it’s important for you to recognize the dedication and commitment of your most important contributors.

We can help you design an executive benefit package that provides additional compensation to selected employees, which may include:

  • A supplemental executive retirement plan that allows you to promise to pay additional income to yourself or your key employees at a later date, which is usually retirement.
  • An executive deferred compensation plan that allows you or your key employees to forgo receipt of a portion of current income until a later date, which is usually retirement.
  • Bonus plans that provide you or your key employees with additional income that can be used to purchase insurance, annuity or investment products.

Employee Benefits

One of the biggest challenges faced by business owners today is the need to recruit, retain and reward talented employees.

We can help you design a quality, affordable benefit plan that may include features such as:

  • Qualified retirement plans such as SEP IRA or 401(k) plans.
  • Group health insurance
  • Group life insurance
  • Group disability income insurance
  • Dental insurance
  • Vision insurance
  • Flexible spending accounts