Solutions for Business Owners
Here at Curtis Financial Group, we offer a wide array of services to help business owners address their financial needs at every stage of the business life cycle. Taking into account their personal values and financial goals, we create and execute customized plans to help entrepreneurs meet their objectives. Some of our key services are detailed below.
Business Continuation Planning
Continuation planning is a process for identifying and developing internal people with the potential to fill key business leadership positions in the company. Continuation planning increases the availability of experienced and capable employees that are prepared to assume these roles as they become available. Talent-pool management is the process of building a series of feeder groups supplying the leadership pipeline. In contrast, replacement planning is focused on identifying specific back-up candidates for given senior management positions. For the most part position-driven replacement planning, which research indicates, does not have substantial impact on outcomes.
Succession planning also allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.
Executive Benefits
The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.
Employee Benefits
Selecting the right benefit package is becoming increasingly important in retaining the best employees, and keeping them productive. We strive to know and understand your complete financial situation and provide you with the highest quality of information, products, and services to help you reach your goals. Our clients rest assured knowing that we always have their interests at heart.
Focusing on your objectives, budget and culture, we work with you to custom design your group benefits, qualified retirement plans, and voluntary benefits plans to address your employees’ unique needs. Our strong relationships with insurers enable us to effectively represent your employees to ensure claims and issues are resolved promptly.
Risk Management Solutions
As a business owner, you live with risk. That’s the nature of business. You take on risk when you borrow money to expand, launch a new product or service, hire a new employee, extend credit to a customer. Successful business owners work to minimize risk, so they can focus on meeting their objectives. Life insurance is a risk management tool. For instance, if your company invested in new facilities or new vehicles, you would insure their value against the danger of theft, fire and accident. In the same way, life insurance can help protect the value of key employees to your business, reduce the risk that a loan might default if something happened to you, and, most of all, reduce the risk that your business and your family would suffer financially if you did not live to see your long-term plans completed.
Buy-Sell Agreements
A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to ensure that the arrangement is funded so that there will be money when the event is triggered.
Key Person Insurance
Key person life insurance offers a death benefit that indemnifies an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to recruit and develop a replacement for the employee.
Deferred Compensation
Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.
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