I started a wealth management career twenty-four years ago to help people with their biggest stress point (money) through a comprehensive model. I’m fortunate to be at a dynamic wealth management firm where my ability to do this is amplified by my leadership role, which includes strategic planning with my team, networking with industry executives, and getting feedback from clients and other professionals to determine what services our clients need most and how to provide them.
We’ve added some great things lately including an estate planning specialist and an advisory team to help our clients’ families, but one primary focus has been building out wealth management services for business owners. To paraphrase Wayne Gretzky, we did that because that’s where the puck was going.
There’s been robust Mergers and Acquisitions activity, and as a planning-centric firm we were increasingly being pulled into those conversations by our clients and contacts, so we prioritized building out the resources necessary to make Heritage Financial a wealth management home for business owners. I explain it a high level (through language borrowed from a client) that we’re here to help you pull cash out of your business tax-efficiently, and cash out of your business on your own terms, while making sure planning opportunities and risk management techniques aren’t missed so you can focus on your business.
Our team recently published this blog post – Selling Your Business? Tax Strategies to Keep More of What You Earn – that I’m proud of for many reasons.
Business Owner Resources
One, it lays out tax-savings strategies we’ve introduced to our clients pre or post transaction, including a direct-indexing portfolio solution that can harvest losses to offset business sale capital gains.
Two, it weaves in a detailed case study highlighting how this worked in practice so business owners can get a feel for our work.
Three, it connects to our full menu of Business Succession Planning Resources.
Four, it also details the Advanced Planning Solutions we’ve built out for higher net worth clients who have asked us for help in many key areas described on that page.
There’s more to come as we’re always thinking about how to enhance our service offering. My practice focuses on helping people build toward a successful retirement and working with business owners on the things discussed here. Both require strong planning well in advance of retirement or an eventual business transaction, and the best outcomes don’t happen by accident. Check out what we’ve built and hopefully you find some valuable tools and resources to guide you.
