You have worked hard to build a successful, growing business, but you’re not quite sure how to balance between investing in your company and ensuring your personal finances are on the right track. You seek financial expertise that pulls together your professional and personal wealth.
Common questions include:
What can I do to reduce my taxes?
How do I know when it’s time to invest back into my business or invest in other opportunities?
Which retirement plan is right for me?
How should I manage and plan for income distributions?
How can I insulate my family from the ups and downs of my business?
Will I be able to sell my business to support my retirement?
AGE: David, 42, and Angela, 41
EMPLOYMENT: David is an architect at a large firm, and Angela is a dental practice owner
FAMILY STATUS: Married for 18 years. Two children, Madison, 12, and Jacob, 14
HOMEOWNERSHIP: Own one home, in which they live
Meet David and Angela*
BUSINESS OWNERS BUILDING ON OPPORTUNITY
David and Angela are thrilled about the direction of their lives—both professionally and personally. David is an architect at a national company, while Angela is the owner of a dental practice. Over the years, Angela has poured her heart and soul into building her practice as David’s paycheck provided a reliable source of income for the family. Now Angela’s business has become quite successful, with steadily expanding revenue and staff.
But with the increasing success come concerns about financial security. What would they do if her business didn’t continue growing at the same rate? If the business were to hit a lull, how would they ride that out? And what about their increased tax burden?
Because of these questions, the two have been talking about hiring a financial planner. Although they know Angela’s CPA is doing a stellar job with business finances, they would like to work with someone who can help make sure that they, personally, are on the right track. They would be happy to delegate their finances to someone who can help pr otect what they have built from business risk and variable income. Someone who can pull together all the areas of their financial lives, both personal and professional, so they can see the big picture and feel confident about enjoying their money today while planning for a secure future.
PRIMARY FINANCIAL CONCERNS
Optimizing their cash flow
Managing variable income
Minimizing their tax burden
Managing the balance between their business and personal wealth
Managing and using debt appropriately
Saving for the future
*This is a sample client situation and not an actual client.
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