Business Planning

The intersection of business planning and personal and financial planning is inevitable for business owners. For many owners, the business is their largest asset and a key part of their retirement strategy. Clarity around value, succession, timing and life after a transition is essential. Whether you are considering a sale, planning a next generation transition, or simply thinking ahead to what comes next, now is the time to ask yourself these fundamental questions:

1. What is the business worth?

2. Who is the most likely successor or future owner?

3. What is the timeline until transition?

4. What are my plans post-sale?

Mitchell Fenimore, MBA, CEPA® leads our Business Planning practice, working closely with our advisors to define and leverage  business planning and personal and financial planning. For business owners, these areas are inter-connected and aligning them is a critical part of preparing for the future.

A Planning Approach Built Around You

Business owners face unique considerations, including uncertain exit timelines, succession planning decisions, and significant wealth often concentrated in the business.

Our process focuses on three core areas:

• Define Your Objectives
  Align your personal, financial, and business goals to guide decision-making and long-term planning.

• Prepare Your Business for Transition
  Help prepare for your transition by evaluating its value, strengthening operations, and planning well in advance of any transition.

• Guide You Through the Transition Process
  Coordinate with your professional team through an internal succession or third-party sale.

Planning for Life After the Business

A successful transition is not only about the transaction, it is also about what comes next. Mitch collaborates with our advisors before and after a sale or succession to help you plan for life after the business and thoughtfully manage liquidity event proceeds. Before and after a sale or succession Mitch collaborates with our advisors to help you plan for life after the business and thoughtfully manage liquidity event proceeds.

Areas of planning may include:

• Wealth diversification

• Tax planning strategies

• Charitable giving considerations

• Estate and legacy planning

A Long-Term Perspective

We help you connect the financial outcome of your business with your long-term goals, while coordinating with your broader team of advisors throughout the lifecycle of your business. Starting early may create more flexibility, more options and a stronger roadmap for the years ahead.

Click here to contact Mitch and start the conversation about the future of your business.

Disclosure:

Business planning services are provided as part of River Wealth Advisors’ advisory services. River Wealth Advisors does not provide legal or tax advice. Clients should consult their legal, tax, or other professional advisors regarding their individual circumstances.

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