Hope is not a strategy.  That’s why hoping that your business will continue to be successful after you start pushing up daisies or become disabled is a sure-fire way to kill it.  But who has time to think about a succession plan when you’re busy making your business successful?  That’s where Brian Wheeler comes in.  He’s a financial advisor with MassMutual, backed by a team of advanced planning attorneys, CPAs, and other law and tax experts.  As the quarterback of the advisory team, Brian’s goal is to make sure that your business has a solid plan all tied up with a bow before you find yourself standing at the final curtain.

No one likes to think about their “expiration date” or the setbacks of a serious disability, but Brian reminds us of the sobering fact that 1 in 4 of us will become disabled during our working lives, and of course, we all have an expiration date.  Not having a business succession or transfer plan in place puts a gigantic burden on our families, our employees, and our employee’s families.  It’s an important responsibility that has a ripple effect on those around you.

In this podcast, Brian walks us through some of the steps involved in setting up a transfer plan, and shows us what processes he and his team have in place to make it as painless as possible for business owners.

After listening to this episode, you’ll see why it is absolutely essential to do this now, not later, no matter how young and healthy you are.

Ways to Listen

Hope is not a strategy.  That’s why “hoping” that your business will continue to be successful after you start pushing up daisies or become disabled is a sure-fire way to kill it.  But who has time to think about a succession plan when you’re busy making your business successful?  That’s where Brian Wheeler comes in.  He’s a financial advisor with MassMutual, backed by a team of advanced planning attorneys, CPAs, and other law and tax experts.  As the quarterback of the advisory team, Brian’s goal is to make sure that your business has a solid plan all tied up with a bow before you find yourself standing at the final curtain.

No one likes to think about their “expiration date” or the setbacks of a serious disability, but Brian reminds us of the sobering fact that 1 in 4 of us will become disabled during our working lives, and of course, we all have an expiration date.  Not having a business succession or transfer plan in place puts a gigantic burden on our families, our employees, and our employee’s families.  It’s an important responsibility that has a ripple effect on those around you.

In this podcast, Brian walks us through some of the steps involved in setting up a transfer plan, and shows us what processes he and his team have in place to make it as painless as possible for business owners.

After listening to this episode, you’ll see why it is absolutely essential to do this now, not later, no matter how young and healthy you are.

In this episode, we discuss:

  • Strategies for keeping your best employees around (besides increasing their pay)
  • The immense advantages of holding your business in a trust
  • Why your business needs a cash reserve
  • How advanced planning can help you get a solid 8 at night, knowing your bases are covered
  • Strategies for avoiding future taxes
  • The emotional and financial costs of failing to organize your business assets now
  • Using the bigger picture to help plan for retirement (i.e., will you need to sell your business or will it continue producing enough income without you?)
  • How it’s not only the bigger estates that have bigger problems (smaller estates are not off the hook!)
  • How to give your business inherent value (surprise: it doesn’t magically “come with it”)
  • How to make your business’ inherent value visible and easily transferrable
  • The sneaky costs of not planning (how will your family pay off your business loan when you are gone?}
  • Why disability insurance can seem like a waste of money but is actually a “must”

In this episode, we discuss:

  • Strategies for keeping your best employees around (besides increasing their pay)
  • The immense advantages of holding your business in a trust
  • Why your business needs a cash reserve
  • How advanced planning can help you get a solid 8 at night, knowing your bases are covered
  • Strategies for avoiding future taxes
  • The emotional and financial costs of failing to organize your business assets now
  • Using the bigger picture to help plan for retirement (i.e., will you need to sell your business or will it continue producing enough income without you?)
  • How it’s not only the bigger estates that have bigger problems (smaller estates are not off the hook!)
  • How to give your business inherent value (surprise: it doesn’t magically “come with it”)
  • How to make your business’ inherent value visible and easily transferrable
  • The sneaky costs of not planning (how will your family pay off your business loan when you are gone?)
  • Why disability insurance can seem like a waste of money but is actually a “must”

Listen to the Recording

Watch the Video

Brian Wheeler

Brian Wheeler

Financial Advisor

A financial advisor at MassMutual, Brian Wheeler believes knowledge is the key to a profitable financial future.  Brian’s commitment to providing his clients with the resources and information they need to make smart financial decisions helps ensure that their business and financial outlook is as successful as possible.  Brian takes a personal approach with clients in order to understand their individual preferences and priorities, tailoring a plan to suit each client’s needs.  When not advising clients at MassMutual, Brian enjoys spending time with family, golfing, camping, snow skiing, and taking on home improvement projects.

 

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