Broker Check

Financial Planning for Business Owners

Business owners face additional financial planning challenges unique to their businesses that require customized solutions. These solutions are typically categorized into six primary areas -  business protection, survivor protection, income protection, exit planning, retirement planning, and wealth transfer.

Many business owners do not really have a plan for exiting their businesses. Do you want to sell or transfer your business to a family member, a key employee or somebody else? Have you thought about how you’re going to do that?

Do you have business partners? What if they want to retire and you aren’t ready – do you have a buy-sell agreement? What if your partner passes away – is your buy-sell agreement properly funded? 

Do you have a SEP or 401(k) retirement plan for you and your employees? If so, is it serving its intended purpose or does it need to be improved or replaced with a better plan?

Answers to these and similar questions will lead to solutions to build and protect a significant source of income and wealth.

As a business owner,you know that it is important to maximize the value of your business. This can be difficult if you lack clearly defined goals. Many owners are not sure what they want from their businesses. Here are some common goals:


Pass business to next generation or key employeeBuy/Sell planning
Minimize impact on business due to sudden death of business ownerBusiness continuation planning
Insulate business from the loss (death) of a key employeeKey person protection
Cash accumulationBonus compensation plans & safe harbor 401(k)
Key person compensation, retention and recruitmentIncentive bonus plans, key person life insurance and retirement plans
Estate planning (wealth transfer and tax minimization)    Irrevocable life insurance trust (ILIT)


It is vital to design and implement the specific financial strategies to protect your unique business and personal goals.  Please take action before something drastic and unanticipated happens in your life.