Services for Business Owners
At Angelo & Associates Financial Planning Group, we provide comprehensive and customized retirement plan and business consulting services for small businesses, including:
Many small business owners want to take advantage of the benefits of having a retirement plan for their company but don’t know where to start. A retirement plan allows employers and employees to shield a portion of their salary from taxes, while also saving for retirement. Other benefits in offering a retirement plan include retention of key employees, as well as providing a competitive edge when hiring new employees. We can help business owners determine and implement the appropriate retirement plan based on their company's needs.
Every business owner should have a plan for exiting their business, whether they are selling, going public, or transferring it to a family member. We can help clients formalize their succession objectives and future goals, as well as assist them in planning for the unexpected.
It’s prudent for businesses with multiple owners to have a formal agreement that governs situations like a co-owner's death or decision to leave the business. Buy-sell agreements can help protect business owners and the business itself from unintended ownership transfers and also protects the business owners’ heirs. We can offer advice on buy-sell agreements and provide referrals to attorneys who can draft these agreements.
Key Man Insurance
Beyond growing a business, it's important to protect it. Key man insurance is life insurance on a key employee or partner, with the business serving as the beneficiary. With this insurance, you may be able to offset a risk by reimbursing your business for economic losses that occur when a key executive of the company dies. We can help you determine your business’ key personnel and evaluate options for this liability.