Business Financial Services Overview
Business owners face complex and, sometimes, conflicting responsibilities. At Magellan Financial, we offer business financial services to help ensure your company’s profitability today, and financial success in the future.
At Magellan Financial, we know that new challenges often accompany professional success. If you’re a small business owner, entrepreneur, or a self-employed individual, we offer many business financial services to help you and your eligible employees prepare for every stage of life. Growing a business requires new capabilities and resources for employees, from 401ks to insurance — and more. We take ownership in answering questions you or your employees have, like where to start and how to save for retirement.
A Magellan financial advisor can help you and your employees navigate all of these business planning challenges and while also keeping your personal wealth planning goals a priority. We can tailor a wealth plan that fits your entrepreneurial mindset and a portfolio that aligns with your business needs. We can also help you set-up benefits for employees and protect against emergencies or loss. And when you’re ready, a financial advisor can help turn your business into a family legacy or help you transition from the business, and into retirement.
Business Financial Services Overview
By working with an advisor at Magellan Financial, you can streamline your financial processes and take a more holistic approach by integrating your business and personal finances. We can work hand-in-hand with your current professionals and also have trusted partners with whom we work.
We will help you identify gaps in your planning while also helping to create synergies that aim to increase profitability and personal wealth. This often includes a combination of strategies that may help mitigate risk, diversify investments, reduce taxes, and plan for your legacy, all while enhancing the value of your business. Here are key business and personal wealth planning areas in which we can help:
Business Financial Services Overview
An entrepreneur’s wealth management plan should be both data-driven and based on their unique personal and business needs. At Magellan Financial, we apply a risk-based approach to investment management that is designed to achieve equity-like returns with potentially lower volatility. We want you to be thinking about how to grow your business and the risks it faces — not those in your portfolio. Here are some ways we accomplish this:
- Asset Class Investing
- International Diversification
- Risk Mitigation
- Tax-Efficient Investment Planning
Risk Mitigation
One of the most important investments an entrepreneur can make is a careful appraisal of risk. Anything that could slow, halt, or impact the profitability of your business should be identified, and, if possible, mitigated against in your business plan. This often includes planning and insurances for:
- Commercial Risk
- Life, Health & Disability
- Management Liability
- Personal Risk
We also know that risk mitigation applies to an entrepreneur’s entire financial life, not just their business. For many small business owners, their business is their life and their life is in many ways the business. We will help ensure that your business and personal assets are fully protected. Our role is to help protect you from major business disruptions and to ensure that you have the appropriate coverage to protect against a major financial event.
Business Retirement Services
An employee who has saved for retirement is motivated, while employees who are playing out the string may become a burden on your business. A tailored and well-managed retirement plan is one of the best tools for recruiting new employees and keeping tenured employees more engaged. Although many businesses have retirement plans in place, we commonly find a strong disconnect between the company and its employees’ interests, and what their provider offers. We will work with you to evaluate your full range of retirement planning options, including:
- 401k Retirement Management
- Profit-Sharing Structuring
- Defined Benefit Planning
- IRAs, Roth IRAs & Conversions
- Employee Stock Option Planning
Whether searching for an evaluation of your current plan or looking to create a new plan, make sure that you look for a variety of benefits and investment opportunities that can help enable financial success, as well as packages that encourage employee retention.
Estate Planning Strategies
No one wants to think about their own mortality, especially when they consider themselves relatively young and healthy. But leaving your estate planning strategies to chance is one of the biggest mistakes you can make. You need to put a strategy in place that ensures that the business you have built lasts beyond you, and ensures the security of your loved ones. Here are some of the key areas of expertise where a financial advisor can help you with estate planning strategies, specifically:
- Asset Protection Planning
- Health Care & End-of-Life Directives
- Philanthropic Donor Services
- Trust Establishment & Administration
It is critical that clients understand everything involved with these strategies to help preserve and distribute their wealth, on their terms. A professional estate planning advocate should be able to answer all of the questions you may have regarding estate planning strategies, from questions about an estate plan for your family business or questions about estate tax planning strategies.
Transition and Succession Planning
For entrepreneurs with closely-held or family-owned businesses, transition and succession planning should be started years before retirement. This ensures that your legacy is secure and that you can ensure maximum value from all of your business-building efforts. We will work with you to help determine the best path forward for you, your family, and your business while deploying the following strategies, as warranted:
- Compensation Structures
- Liquidity & Exit Planning
- Internal Buyouts
- Pre-sale Planning
We believe it’s our job to match your vision of retirement with a plan to pursue it. Together, we will create diversified potential income sources, a dynamic spending strategy, a cash cushion, and a written retirement strategy.
Integrating Business and Personal Planning
At Magellan Financial, we offer business financial services to help ensure your company’s profitability today, and financial success in the future. If you’re a small business owner, entrepreneur, or a self-employed individual, there are many wealth planning services available to help you or your eligible employees prepare financially for every stage of life. By creating and managing a well thought-out wealth plan, you can help enable employee retention and provide for a more secure retirement for you and all of the members of your team.
For More Information About Our Business Financial Services for Entrepreneurs, Contact Our Team Of Financial Advisors Today!
Wells Fargo Advisors Financial Network and its financial advisors provide non-fiduciary services only. They do not provide investment advice [as defined under the Employee Retirement Income Security Act of 1974 as amended (“ERISA”), have any discretionary authority with respect to the plan, make any investment or other decisions on behalf of the plan, or otherwise take any action that would make them fiduciaries to the plan under “ERISA”.
Wells Fargo Advisors Financial Network and its affiliates do not provide legal or tax advice. Transactions requiring tax consideration should be reviewed carefully with your accountant or tax advisor. Any estate plan should be reviewed by an attorney who specializes in estate planning and is licensed to practice law in your state.
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