Business Owner Financial Planning

Many business owners have both a personal financial plan and a business financial plan, as well they should. What's alarming though, is that many people don't realize the importance of intertwining the two plans. The thoughtfully constructed personal financial plan should include a business plan. In turn, each of the objectives of the business plan affects aspects of the personal financial plan. To look at one plan without considering the other can be detrimental to one's financial future.

A)    1. “How Should Affluent Individuals Protect their Financial Achievements and
            assure their Long Term Goals?”
        2. “How Should Corporations Prepare For Leadership and Financial
B)    “How Should Corporations Maximize the Value of Retirement Plan Benefits?
C)    “How Should Family Businesses Secure the Best Future for the Companies they
        have built?”
D)    “How Should Affluent Families control the Value of Their Legacy Over

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Business Exit Strategies

“At some point, every owner leaves his or her business – voluntarily or otherwise. At that time, every owner wants to receive the maximum amount of money in order to accomplish personal, financial, and estate planning goals.”   

 ~ John H. Brown

Owners begin thinking about the Exit Planning process when two streams of thought begin to converge. The first stream is a feeling that you want to do something besides go to work everyday—either you would like to be someplace else—doing something else—or you simply no longer get the same kick out of doing what you are doing. The second stream is the general awareness that you are either approaching financial independence, or making significant strides toward reaching that goal, or can achieve financial independence by selling your business.


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Executive Benefits

Staying ahead in today's marketplace isn't easy. Competitive pressure, corporate governance issues, changes in legislation and tax reform have changed the way executives are compensated. Attracting and retaining the best talent to help grow your company requires a comprehensive benefit package that fits your corporate objectives – while meeting regulatory requirements.

  • Remain competitive by attracting, retaining, and rewarding top executives who have the ability to make a difference in your bottom line. 
    Value drivers white paper
  • Provide Incentives to encourage executives to stay with your company.
    Short term incentives white paper
  • Create management benefit packages that motivate long term performance.
    Incentive planning white paper
  • Provide retirement benefits commensurate with pre-retirement pay levels – while overcoming limitations and restrictions imposed by traditional pension, profit-sharing and welfare benefit plans.

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Qualified Plans

How should corporations maximize the value of retirement plan benefits? 

Over the past decade, the environment for company-sponsored retirement plans has shifted from defined benefits plans to the dominance of the 401(k). As popular as the 401(k) remains, these plans have given rise to consistent complaints. 

For example, employers and employees alike are concerned when they cannot get timely, accurate data on the status of the plan. Employees may perceive a lack of investment diversity to meet their allocation needs. And highly paid employees may become frustrated when their contributions are limited by low participation among the general employee population. 

If your plan suffers from these problems, you can overcome them at the design level. Using an ideal plan design as the starting point, your plan could include...
  • Complete Investment Independence
  • Assessing fiduciary responsibility 
  • Daily valuations of account balances for all participants.
  • Internet or toll-free participant access to account balance.
  • Fiduciary compliance expertise designed to protect and insulate the plan sponsor from potential corporate and personal liability.
  • Mutual fund record-keeping fee offsets designed to lower employer costs.
  • Customized employee education programs.

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Business Insurance

Business Owners- As a business owner you face many challeges and may have to plan for many contingencies.  Life insurance can be a valuable asset for your business.  Death Benefit proceeds can inject the capital your business may need in the event of the premature death of an owner or key employee.  Policy cash values can help you incentivize your very best employees, as well as create a valuable retirement asset.

  • Business Continuation - A capital infusion to aid in the continuation of business in the event of an owner's death or disability
  • Succession/Buy Sell Funding - Provides liquidity to purchase the ownership interest of a deceased owner and position the surviving partner with all future control of the business.
  • Key Employee - Generates resources to aid in the search for a replacement in the event of a key employee's death.
  • Executive Retention - Used in a variety of nonquoalified benefit programs to help attract and retain key employees.
  • Debt Protection - Creates a pool of money that can be used to pay off borrowed money.

Supplemental Retirement Plans

The Challenge

Business owners, key employees, and high income earners are finding it more difficult to adequately save for retirement.  Why?  Qualified retirement plans and group insurance plans, even Social Security, place limits on contributions, payouts and tax advantages of benefits for highly-paid individuals. We may need at least 80 - 100% of pre-retirement income to maintain our current standard of living in retirement.

The Income Gap

With qualified plans and Social Security alone, you and your key employees could receive as little as 30% of your current income at retirement - creating a retirement income gap.  Cash values from life insurance can help fill the income gap.

Tax-Efficient Asset Management

Many types of investments produce ordinary or passive income.  The taxes on this income are a drag on the net investment return and overall appreciation of the investment.  The ability to manage your investment in a tax efficient manner by reducing or eliminating these tax can produce a significantly better tax-equivalent result, along with providing a self-completing tax advantaged death benefit when structured properly.

Professional Advisor Support Services

Through our affiliation with New York Life's Nationally Renowned Advanced Planning Group we are uniquely positioned to support professional advisors on life insurance matters.  In today's complex world, professional advisors are being asked to be involved in the planning and due diligence for all financial transactions including life insurance.

Here is a listing of some of the many ways we have been asked to provide value and support for professional advisors and their clients:

  • Life insurance policy audit
  • Create a life insurance inventory
  • Client Needs Analysis
  • Product Due Diligence and Carrier Evaluations
  • Estate Tax Projections
  • Estate Tax Liquidity Analysis and Discounted Payment Options
  • IRC 6166 Analysis for Business Transfers
  • Private Finance Consultations
  • Premium Finance Evaluations
  • Supplemental Retirement Plans
  • Buy-Sell Planning

To learn more about these services, please click here to visit the Advanced Planning Group's website.

Neither New York Life nor Eagle Strategies or any of their representatives provides legal or tax advice.


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Please be sure to consult your tax advisor & attorney regarding your particular situation.
#Securities offered through NYLIFE Securities LLC. (member FINRA/SIPC).
*Neither Eagle Strategies LLC nor any of its affiliates provide legal, tax or accounting advice. Please contact your own advisors for more information on your particular situation.