Only 30% of family-owned businesses end up surviving to a second generation. Will yours? Learn about business succession planning in this webinar.
NEW YORK CITY, NEW YORK, UNITED STATES, April 30, 2021 /EINPresswire.com/ — Only 30% of family-owned businesses end up surviving to a second generation. That’s a dismal statistic, and it shows how financially and emotionally costly it can be when businesses don’t have a succession plan. Whether you retire, pass away, or simply want to move on to a new venture, you’ll need to have some structure in place for the future of your company. With proper estate planning, your business can continue to thrive once it’s in new hands. On Wednesday, May 5, at noon Eastern Time, Advice Chaser will host a new webinar on succession planning for small businesses. You can register for the webinar here.
The webinar is hosted by Advice Chaser, a financial concierge service that matches clients with experienced financial advisors. The main speaker will be Wendell Stallings, CFP, CLU, ChFC. He has extensive experience in the life insurance and financial advising industries and has worked with many business owners on estate planning. In his presentation, he will discuss details about succession planning for businesses, including:
>>The pros and cons of buy-sell agreements
>>Types of agreements and funding options
>>Tips for preparing for a smooth transition to a new successor
>>Questions to ask yourself to determine your business’s risk of failing if an adverse event happens
>>Items to include in a succession plan to keep your business thriving
“Smaller businesses tend to be much more focused on relationships – with their neighbors, with their customers, and with other businesses and stakeholders in their communities. In general, a small business’s success is closely tied to the success of the area they serve. Passing a business on in a family often relies on strategies to preserve those relationships and pass on those values to the upcoming generation,” said Megan Coelho, President of Advice Chaser. “Wendell Stallings has extensive experience helping business owners smoothly transition from one generation to the next, preserving both the financial and relational health that these entrepreneurs have created.”
Small business owners know how important it is to work with people who understand your business needs. If you want guidance to create a succession plan, Advice Chaser can match you with a financial advisor who has experience with clients in similar situations. To find a financial advisor who is a great fit to help you with succession planning or estate planning in general, book a free consultation here.
About Advice Chaser
Advice Chaser is an independent financial concierge service. Our mission is to improve your investment experience by helping you access better financial advice. We listen to your specific needs and goals in order to offer you a custom-tailored connection to reputable advisors. Think of us as a boutique financial dating service.
Unlike other investor-matching services, we do not sell recommendations. Advisors pay to be considered for our select list, but they can’t purchase a place there. We keep only consistently reputable advisors on our shortlist. To see what we can do for your future, see our services here.