Business Planning

Every day, business owners make significant contributions to the strength of the nation and the security of our citizens. Small businesses employ over half of all private sector employees and account for 44% of the United States’ private payroll. It is important for the owners of these businesses to have access to quality financial planning directed at their unique needs.

At Wisdom Wealth Strategies, we have made a priority of serving the needs of business owners. Specifically, we specialize in employee benefit package design, retirement plan services, business continuation planning, and the reward and retention of key employees.

Retirement Planning

In today’s employment environment, retirement benefits are a critical factor in attracting and retaining quality employees. Choosing the correct plan to meet the unique needs of a business requires extensive knowledge of the retirement planning landscape. As an independent financial planning firm, we are able to work with a wide range of investment platform sponsors to select the plan and investments that best fit the needs of the business, the business owners, and the employees. Specifically, we specialize in the following type of retirement plans:

• 401(k)/Profit Sharing Plans
• 403(b) Plans
• SIMPLE and SEP IRA Plans
• Defined Benefit Pension Plans
• Employee Stock Option Plans

Non-Qualified Plans

Non-Qualified plans are designed to provide incentives to key employees and executives to remain with their particular employer. Non-Qualified plans are not subject to ERISA (Employee Retirement Income Security Act) guidelines. Therefore, employers are able to design benefit packages that are not required to meet the discrimination and top-heavy testing standards that··ERISA-covered plans must meet. We commonly assist business owners with the following types of Non-Qualified plans:

• Executive Bonus Plans
• Deferred Compensation Plans
• Group··Carve-Out Plans
• Split-dollar Life Insurance Plans

Protection Planning

The death, disability, or departure of a partner or key employee in a business can be catastrophic. Fortunately, tools exist to protect the business and the individuals who rely upon it. At Wisdom Wealth Strategies, our planners are fully licensed to provide solutions in the following areas:

• Life insurance
• Disability insurance
• LTC insurance
• Health insurance

Business Succession and Sale Planning

For many business owners, an important goal is to eventually transfer a successful business to the next generation of family members. For other business owners, the goal may be to sell the business at a price that will provide for a quality lifestyle in retirement. Regardless of the goal, careful planning is required for successful completion of the transaction. At Wisdom Wealth Strategies, we involve a team of advisors that includes business valuation experts, accountants, and estate planning attorneys to ensure that the process is carefully planned and smoothly executed.