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If you run your own business and are moving into the business succession phase, you know how important successful business transition financial planning can be to ensure your future prosperity and the legacy of your business. Yet, most business owners do not even know how to start the process of a business transition. Perhaps this is why 50 – 70% of all privately held businesses that are in play fail to sell. There are multiple factors to consider, but lack of business transition planning is key. 

Considerations such as valuation of the business, financing strategies and communication among stakeholders are critical components of a succession plan.

Richard Brothers can provide business transition financial planning and advice, in coordination with a trusted CPA, to give you the peace of mind during a transition. This way, you are ready to enter the exciting next stage of your life with confidence and financial security.

We have years of experience in providing thorough, objective counsel in business transition financial planning. We start with building different scenarios in your financial plan, so you can clearly understand how selling your business will impact your retirement, and what to value your business at in order to make your retirement goals.

We then explore the many issues associated with changes in your business – personal, family, and financial – and work with your attorney and other advisors to develop an effective transition plan. We can also partner with you to implement and monitor the plan to ensure a smooth transition to your successors.

Planning for your business transition can be complicated, and it requires a team of trusted professionals, including a financial advisor who understands your personal and professional goals. Contact a Richard Brothers Financial Advisor today and begin developing your business transition plan that will result in optimized financial and long-term business success.

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Take control of your financial future today!