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Monthly Archives: April 2014

Financial Advisor Advice: What Clients Need to Know About Selling a Business

Financial Advisor Advice: What Clients Need to Know About Selling a BusinessWhen a wealthy client decides to sell a business, they’re going to turn to a financial advisor for help with planning this significant event. A good way to begin the planning is to start by constructing a dry run with a scenario analysis that will allow your client to see what life is going to be like once this sale is complete. This analysis can bring clarity and understanding to issues such as the client’s future financial needs. For example, the analysis may show expenses that have previously been covered by the company, but will now be the responsibility of the client. Continue reading

Succession Planning: How to Help Clients Make This Transition a Success

Senior couple discussing financial plan with consultantAccording to a recent survey, 15% of business owners plan to actively seek succession planning advice from their financial advisor. While that’s a good start for advisors, this survey revealed an even bigger opportunity. Because 60% of small business owners plan to exit their current business within the next ten years, financial advisors who take the initiative to proactively bring up succession planning with current and potential clients may be able to significantly expand their practice through this single avenue. Continue reading