At CJM, we place the client’s business and personal life through the prism of integrated financial planning in order to develop a seamless approach that leverages and fuses the opportunities inherent in the interrelationship between both.
Identify the potential tax strategies available to business owners that cannot be utilized by employees. Project the benefits, pros and cons, of deploying each, for the benefit of the client.
Assess the current and long-term value of the client’s business/professional practice and calculate the impact of this on retirement goals, estate planning, life insurance needs and borrowing capabilities.
Ascertain if traditional retirement planning is required or beneficial as the client may never want to sell, leave the business and thus will likely have a perpetual stream of high value earnings from the enterprise alone.
Determine the impact this may have on the client’s non-business, investment portfolio and whether it enables the client to move further out of the risk/reward curve.
Explore little-known but potentially powerful strategies and techniques such as ESOP’s and captive insurance plans.
Calculate the true sum of the business owner’s commercial and passive investment interests to determine their combined wealth figure. From this and the client’s lifetime standard of living goals, calculate the yearly income required. Base the wealth accumulation/protection process and strategies on the business owner’s actual assets and goals.