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Business Ownership and Succession


Entrepreneurs and Business Owners

Spectrum Wealth Partners strives to help clients maintain success in business while protecting themselves against the risks associated with having a large percentage of their assets tied up in the entity that is their life’s work. As holistic planners, we review all aspects of your financial situation, taking into account tax consequences, legal documents, and asset distributions in order to develop a financial plan closely integrated with your business plan.

To help provide clear solutions for entrepreneurs and business owners, we:

  • Specialize in helping owners of private and closely held businesses make the tough decisions surrounding succession.
  • Create interim plans to facilitate immediate decision making, while providing enough flexibility and control to change the factors and players as needed over time.
  • Help you build the proper team of advisors to most effectively implement your succession plan. The proper advisory team (from legal, tax, and financial disciplines) is critical to a successful transition.
  • Assist business owners in evaluating and maintaining employee benefit programs such as medical, life, long-term disability, dental, long-term care insurances, and qualified retirement plans.
  • Help to evaluate and implement programs to attract and retain key talent in your organization.

The planners at Spectrum Wealth Partners have helped many clients navigate the succession process to completion.


2:00 AM Questions

  • When will I be financially and mentally ready to exit my business?
  • How will I know for sure and what is the process toward achieving true financial independence?
  • What is my business worth today?
  • How much money will I need to live the lifestyle I desire when I am no longer working, taking a salary, and receiving the perks from my own business?
  • What do I want my retirement to look like?
  • Am I going to be okay financially?
  • Is my spouse going to be okay?
  • Am I doing all I can to minimize the IRS tax bite?
  • Do I have enough?
  • What concerns me about my kids and grandkids and their future?
  • If I could be relieved of one burden, what would it be?

Don’t let these worries keep you up at night. If any of these questions resonate with you, we should talk.


Business Owner Readiness Index (BERI)

Click the link above to take our questionnaire (takes 5 - 10 minutes) to assess your financial and mental readiness for an exit. Results are kept confidential and sent to your e-mail.


Owner Dependency Index (ODI)

Click the link above to take our questionnaire (takes 10 - 15 minutes) to assess your business’s dependency on you. Results are kept confidential and sent to your e-mail.