Business Succession Planning

    A business is an entity that exists to benefit all of its stakeholders (its employees, its customers, and the business owner). In conjunction with the other professionals on your planning team, such as your attorney and CPA, our Business Succession Planning process helps you ensure that you’ve considered all of the options for setting up, running, or transferring ownership of your business and includes the following:


    Business Entity Review

    It is not uncommon to find an overall business structure that is actually a collection of smaller, related entities. For example, the main business is one limited liability corporation (LLC), and the other business functions are also designated as their own LLCs or S-Corps. While this design made sense when it was first created, numerous changing tax consequences and labor regulations make it imperative for the owner to periodically review the structure with legal and accounting advisors as the company continues to grow. As financial advisors, we provide guidance on how to ensure that the owners’ original goals and objectives remain consistent by communicating that information to the advisory team.


    Material Changes Review

    As your company continues to grow, significant changes can happen in the areas of ownership, personnel, and within the business itself. Our goal is to help analyze the changing situations in relation to your primary objectives and report how the changes could affect different financial areas. Where appropriate, we will help to coordinate this information with the different members of your team of advisors for execution and service. The benefit to this approach is that we will continue to identify any gaps in planning and work to develop solutions for addressing them over time.


    Key Personnel Planning

    One of the advantages of working closely with the leadership of growing companies and understanding their objectives is we are better able to advise them on the optimal ways to compensate executive and key employees beyond standard pay. This is important as it helps the company differentiate itself from competitors and attract top talent. In addition, we can also guide companies on how to plan for the contingencies of death and disability that could affect these same key people.


    Buy-Sell Review

    Our Buy-Sell Review includes a Triggering Events Review, Valuation Review, and Funding Review. Learn more...


    Risk Management Advisory

    Not only can we help with Business Succession Planning as described above, but we can also serve in an advisory role with our colleagues who help with risk management needs. Risk management recommendations may include consultative services and products designed to protect your firm’s assets, income, and personnel from the adverse consequences of accidental loss.