Solutions for Businesses

You have a business plan (presumably) and a marketing plan
(of some sort), but do you have a succession plan and a
retirement plan?

As a business owner, you’ve got so many moving pieces to deal with each day, planning for retirement frequently ends up at the bottom of the list.

We work with family-run and closely held business owners. A common belief is that “my business is my retirement plan.” And while business equity can certainly be part of a retirement plan, we specialize in helping business owners build value outside of their businesses. This includes making sure key people are retained and that a workable succession plan is in place, resulting in an effective exit strategy and more robust retirement plans.

Maybe you’ve done some retirement planning but are not confident it all fits together or is keeping up with the changes in your life. Talk to us, and we’ll work with you to create a plan that is directed toward your current goals. Most importantly, we’ll make sure that plan is carried out.

Executive Benefits

The success of most businesses is tied in to the talent, passion, and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar arrangements, and more.

Employee Benefits

Today’s labor market is competitive, and finding quality employees that have the experience, values, and knowledge necessary for the job can be a challenge. Then, after you’ve put your team together, you still have to figure out how to keep them motivated and happy to be there. Offering benefits that are the right fit for your business can help to reduce employee turnover, which in turn also helps your long-term stability. Even though it’s an added expense, it’s typically much less than what it takes to hire, train, and retain new employees.

Succession Planning

Succession planning allows owners to retire from their business within their own time frame, while preparing for the company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business. I can provide financial strategies for succession planning.

Key Person Insurance

Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets—the key person. This can help assure continuity of the business for employees, customers, and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the diseased employee.

Funding Buy-Sell Agreements

A buy-sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money if the event occurs due to the death of an owner.

Funding Deferred Compensation

Deferred compensation is a written agreement between an employer and an employee in which the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed to them at a predetermined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees. I can provide funding strategies for deferred compensation.