Leveraging your business to meet your personal financial goals
Business owners have challenges and problems that require professionals who are experienced in starting and operating businesses and understand the ramifications of these decisions on the personal financial plans of owners.
Hightower Wealth Advisors | St. Louis collaborates with business owners to create custom solutions for questions like these:
I don’t know my business’ valuation. What should I do?
I’ve just sold my company…what should I do with this additional liquidity?
I want to create a legacy for my family. Where do I start?
I’m self-employed. What are the best ways to save for retirement?
Planning
Coordinating business and personal financial planning to budget cash flow, invest appropriately and create an income stream beyond liquidity events.
BUSINESS
Succession Planning
Exit Planning
Business Valuations
PERSONAL
Retirement Planning
Cash Flow Planning
Accumulation Planning
Personal Financial Independence from Business
THE HIGHTOWER STRATEGIC ADVISORY NETWORK
Investment Banking Relationships
ESOP Sale Consulting
Lending Solutions
Commercial Real Estate Financing
Wealth Protection Planning
Analyzing business and personal risk to gauge the need for additional financial protection and assessing whether alternative tax strategies would be beneficial.
Insurance Planning
Tax Minimization Strategies
Asset Protection
Buy/Sell Agreements
Key Person Insurance
Accountant and Attorney Coordination
Working with Business Owners
The Dilemma
Julie, the owner of a chain of retail stores, is just beginning to consider what her retirement will look like in the future, and she realizes that most of her assets are tied up in her business — yet she doesn’t know what the value of the business actually is right now or even where to start that process. The business wasn’t perfect, so Julie was looking for advice to maximize the enterprise value.
As the business has supported the family’s living expenses for years, it’s unclear to her how much she’ll even need during retirement and how to invest the large amount of cash on hand post-sale. Another major concern for Julie was the amount of potential estate tax that could be due and how this would impact her family.
The Solution
Hightower Wealth Advisors | St. Louis built Julie a financial plan that included a business valuation and a detailed time frame for when the owner will step away. This included an introduction to investment banking relationships that helped Julie get a sense of the value and where to take the business leading up to a sale.
This cleared up for the owner how much she could expect from the sale of her business and when. We also worked with the family to build out a detailed cash flow table to dive into its spending needs and additional lifestyle goals, which included a second home, significant vacations and either a boat or a plane.
After the cash flow plan was formed, now begins the estate planning process. Moving the business shares out of her estate helps avoid future estate taxes. Working hand in hand with Julie’s accountant and estate planning attorney, they were able to restructure the business to take advantage of tax savings now and at the sale. This provided significant tax savings for Julie as well as future generations.
This is a fictional situation. Specific financial advice references provided herein are for illustrative purposes only and are not representative of decisions that have been made since the case study was published nor of decisions that would be made in the future. Advisors’ services, investment strategies and conditions for accepting accounts may vary.
1401 S. Brentwood Blvd.
Suite 550
St. Louis , MO 63144
Office: (314) 598-4060
Fax: (314) 754-9132
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