Business Planning is at the core of every successful business. We are seasoned veterans in helping closely held companies thoughtfully navigate all phases on the business life cycle. After-all, our firm is well into our 3rd generation of ownership. As an integral part of the planning team, it is most rewarding when we can help a business with its succession or exit plan. We understand the business is like the owner’s baby—there is both an art and science to successful and graceful transition.
A Business Owner's Life Cycle of Needs
Early Business Planning
- High Growth
- Building Your Business
- Protection Strategies for Ownership
Managing Business Growth
- Key-Person Retention Strategies
- Non-Qualified Deferred Compensation Strategies
- Business Continuation Planning
- Buy-Sell Agreement Review and Funding
- Coordinate with Advisory and Planning Team
- Business Succession Planning
- Business Exit Planning
Your Buy/Sell Could Generate a Tax Bill
A recent ruling in a US Court of Appeals has flipped the script on life insurance death benefits paid to a business under a buy/sell agreement resulting in an inflation of the value of the business and consequently, inflation of the value of the deceased’s taxable estate.
In the event of an untimely death or an early departure, are you capable of buying him/her out of the business altogether? Are you even certain of the value of your business to determine that valued share?
These questions are scary, and the answers are ones you shouldn’t wait to discover. That’s where CGIA steps in. We will walk you through your in-depth business evaluation process. We will utilize our trusted professional network to provide unbiased, honest assessments, and help you plan for the unexpected—creating a thorough plan that works best for you and your partner(s).
We don’t just plan for the unexpected. Colton Groome Insurance Advisors is here to help steer your business toward a sustainable future structure, positioned for growth, opportunities, and strong legacy value.
Whether your focus for succession is to ensure your clients are well taken care of, maintain part ownership or control of your business, mitigate risk, or to retire on your own terms, our tools will help get you there.
Many owners of small to medium-sized businesses are concerned about finding a keeping top talent in today’s competitive job market. As a result, owners and highly compensated executives are more interested in tax-deferred supplemental retirement benefits that go beyond the company’s qualified plan restrictions. Colton Groome Insurance Advisors can customize these solutions with our Turnkey 5R Service:
RECRUIT | RETAIN | REWARD | RETIRE | RELAX
Because of the COLI’s (Corporate-Owned Life Insurance) inherent tax advantages and design flexibility, it is one of the most common vehicles for informally funding Nonqualified Deferred Compensation Plans and Supplemental Executive Retirement Plans. You provide the client data and serve as the advocate, we’ll take care of the rest. We utilize a consistent process that involves:
- PLAN DESIGN
- PLAN FUNDING
- PLAN ADMINISTRATION