Broker Check

Business Organization

Personal Wealth Partners serves many individuals who are building their wealth as business owners. Because the financial well being of owners and their companies are inseparable, we recommend tying business strategies together with the compensation and estate planning goals of the owners and key executives.

Personal Wealth Partners advisors have developed exceptional strength in crafting financial plans that focus on improving business operations and profitability. Our two key business services are compensation and benefits planning, and business succession planning.

401K and Other Qualified Plans

A compensation and benefits plan is critical to providing performance incentives for all employees, both within and outside the ownership group. History demonstrates that not doing so risks the continued growth (or even survival) of the business.

Personal Wealth Partners will help you choose the best type of deferred compensation benefit plans for your company. There are Qualified Plans that typically include 401(k)’s, pension plans, and profit-sharing—satisfying extensive IRS requirements in return for special tax treatment. There are also Unqualified Plans (under “safe harbor” provisions) that a business may offer at its discretion to reward key executives and employees.

The Process

Personal Wealth Partners will coordinate the entire process of compensation and benefits provision. We first assess the strengths and weaknesses of your existing plans. Then, if changes are necessary, we meet with various deferred compensation providers and third party administrators to identify the best plan options. Upon plan selection, we will hold enrollment meetings with participants to discuss their options and ensure smooth implementation. After enrollment, we provide ongoing support and communication with participants.

Business Succession Planning

We help develop an orderly succession plan, so you can grow and preserve what has taken you a lifetime to build. Personal Wealth Partners has deep experience facilitating and coordinating the succession process, including the technical and people issues that typically arise. Complementing our internal experience is a strong network of professionals in various business disciplines to assist you.

The Process

It takes time to select, groom, and develop those who will carry on the legacy of your work. Starting the process early minimizes risks. We begin by interviewing business owners about their goals and desires. Then we analyze ownership alternatives to assess strengths and weaknesses. We jointly discuss these alternatives and help select one that has the greatest prospect for success. We then determine how to best achieve a smooth transition and develop a plan that details timing and actions required. We assist in implementing the plan, providing expertise and objective guidance as well as immediate access to a network of other professionals who can facilitate the process. Owners who have been through this process with us regularly remark about the comfort derived from providing an orderly transition.