Broker Check

Business Planning Strategies

Sole Proprietorships, Partnerships, Corporations and Limited Liability Companies

Protect and Grow Your Business

Planning is one of the most important parts of running a business. Whether you’re a large multinational corporation or a small business, we have the knowledge and resources to help keep your company on track. We can function as your outside personal "CFO" in the areas the area's below. 

Business Insurance at a Glance

Business insurance is the term used in the insurance industry to describe the use of life insurance and disability income insurance for certain financial needs of businesses and business owners. Business insurance can help to address the needs of a business owner using insurance products:

  • Economic loss to the business when a key employee dies
  • Disposition of a business owner’s interest upon death or other separation from the business
  • Attraction and retention of valuable employees and
  • Rewarding faithful employees

We can assist you in creating your personal business plan to address theses business risks. We will understand the devasting business cost of these events occurring and create financial strategies in solving these areas of concern. We will also show you how these risk mitigation insurances can be recaptured or the cost minimized over-time. 

Items We Address

  • Financial statements
  • Business Continuation Concepts
  • Employer owned life insurance
  • Key employee life insurance
  • Group term life insurance
  • Business valuation
  • Executive bonus arrangements
  • Cafeteria plans
  • Entity buy-sell agreements
  • Cross-purchase buy-sell agreements
  • One-way buy-sell agreements
  • Disability buy-out agreements
  • Section 303 stock redemptions
  • Shifting future business growth
  • Transfers for value
  • Executive bonus arrangements
  • Split-dollar life insurance
  • Nonqualified deferred compensation
  • Complete Wealth Management from Cash and Lending Solutions

Employer Sponsored Retirement Plans

Part of being competitive with your employees is to offer a benefit as an employer sponsored plan. There is also more than just to have an employer sponsored plan. As a business owner you take on many new fiduciary responsibilities that you must address on a periodic basis.

Mission Statement: Create and maintain a high-quality retirement plan by providing a superior level of plan service for you and ongoing educational  support for your participants. 

Overall retirement plan servicing philosophy

  • Believe that a manageable list of investment options with broad objectives can help your participants achieve their goals.
  • Believe that helping participants learn about retirement plan investing encompasses everything from enrolling in the plan all the way through to distribution planning.
  • Will team with all of your plan’s providers to ensure the best possible service for your plan.
  • Will strive to ensure that your retirement plan meets your needs at a fair and reasonable cost.

Plan sponsor support

  •  Will make sure you spend your time making big-picture decisions, and not on the details of plan administration.
  • Will show you how a selection of investments from more than one fund family can help you create a more complete menu of investment options for your plan.
  • Can help you avoid the most common mistakes made by well-meaning plan sponsors.
  • Will serve as a plan fiduciary and help you benchmark services and fees and document the process.

Commitment to participant education and ongoing service

  • Will walk your employees through the enrollment process in a way that is both motivational and easy to understand.
  • Will periodically help you evaluate the educational needs of your participants using a variety of tools.
  • Can conduct ongoing education sessions to help your employees plan for the distribution phase of their retirement saving

Common areas employer sponsored plans (401k) could increase the business owner's exposure to fiduciary liability

Potential "Red Flags"

  • Missing/Late Form 5500.
  • Excessive uninvested cash in the plan.
  • Systematic process to benchmark investment funds within the plan.
  • Lack or insufficient financial education to the participants.
  • Benchmark plan fees to the participants.
  • Frequent corrective distributions issued.
  • Failing to invest contributions in a timely manner.
  • Plan failed to provide compensation disclosures to participants.
  • Retirement plan loans in default.
  • Missing/Insufficient fidelity bond coverage.
  • Employee Benefit Security Administration (EBSA) violations. 

Mitigate Exposure with our Team

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