Small business owners are at times neglected by the wealth management community as the business is commonly (not always) the owner’s largest asset rather than a portfolio of stocks, bonds, and mutual funds. You’d be well-advised as a business owner to engage a Financial Advisor who is proactive and experienced in factoring your future plans for the business into your overall plan for managing your wealth.

It is not uncommon for the business to be the largest asset in a business owner's estate, while also being the primary source of income for their family.  As estate planning is essentially taking control of how property is managed during life and distributed and transferred at death, a business owner cannot do exit planning without estate planning, or estate planning without exit planning.  Exit goals, such as transferring a business to children, always impact an owner's family and estate.

Janice founded her business 15 years ago at age 45 and her business has realized a modest but consistent growth rate (revenue) of 5%. Like most small business owners, she has invested her time, money, blood, sweat, and tears in building her business. Her perspective has always been “if we don’t focus on today, there may not be a tomorrow!”.