Business Services

While many of the individual planning services can also apply to the business owner or professional, there are some specific areas of service directed to the business, organization or practice itself. They are:

Business Succession

In planning, for those who own or participate in a small business or professional practice, there are a number of important considerations. Few choose that path purely for the money. More often, it is a sense of freedom and an opportunity to create value in a special way that motivates such individuals. Often with the rewards of business ownership comes a sense of responsibility to see the work of the enterprise continue. There are financial considerations, management considerations, and family considerations. All of the personal planning issues noted above may be important as well. However, when the business is such a large portion of the business owner's net worth, planning is made more complex.

Key Person Insurance

Businesses and other organizations, like individuals, derive much of their value through Human Capital. And in most cases, there are a few key contributors who help the business achieve the greatest results. The successful business considers and has a plan for managing the risk of losing its most valuable resources -- its key people -- from loss due to resignation, disability or premature death.

Executive Compensation Arrangements

Attracting and retaining the key personnel of an organization is often critical to its long-term success. Whether it is the Chief Financial Officer (CFO) for a mid-sized business or the Executive Director of a large non-profit, having the right person can make a profound difference. And once you have them there, keeping them is essential. Traditional retirement and benefit plans are effective at rewarding much of the workforce, but they may not effectively attract and retain the executive leaders. Customized solutions can pick up where the traditional programs leave off.

Benefit Communication and Coordination

Today the average cost of benefits to employers totals over 29% of salary. And that cost may be rising. The sad reality is that many employees don't understand or appreciate the value of those benefits. Even in the executive ranks of a company it is very challenging to understand how to coordinate the employer-provided benefits with personal financial resources. We can assist both employers and employees in this quandary. For employees, we can help unravel the benefits already in place and integrate them into personal planning. For employers, we can help assess whether the benefits being provided are in alignment with organizational objectives. We can also assist with communicating that to employees.