Solutions for Business Owners
As a business owner, your time is a precious commodity, and your financial opportunity set is large. Whether you continue to manage the business well into retirement or explore exit strategies, there are numerous paths, forks in the road, and key decisions that must be managed and optimized. When you partner with our team, you gain a team of specialists who can help you navigate the financial opportunities of your business and maximize the value of your business to your personal legacy.
Our client was a serial entrepreneur owning four companies at the time he engaged NEIRG. He had some personal wealth with a different advisor but did not feel like anyone was managing the big picture. His investments were not in concert with his estate plan and overall balance sheet incorporating his businesses.
Additionally, he did not have anyone coaching him on how his businesses were being run and what the end game would be when he wanted to retire.
Audited the family's financial and tax picture
First, we worked with the family to understand their current financial picture, resources and tax exposure. This work formed the foundation of our recommendations that came next.
Recommended the creation of a GRAT
Based on the family's wealth picture, we recommended the creation of a GRAT, which would hold a portion of the business prior to sale. This enabled the family to insulate a portion of the sale from tax exposure.
Defined and implemented a personalized portfolio
With the family wealth picture changing substantially after the sale, we worked with them to develop an asset allocation strategy that could grow and preserve this new wealth for generations to come.