Business Planning Services

The Wheeler Group LLC (TWG) assists Hawaii business owners in the design and implementation of programs to help ensure their businesses are passed along to family or valued employees without being detrimentally impacted by estate or inheritance taxes. We help owners and executives plan their personal estates to ensure maximum distribution and conservation to future generations.

BUSINESS SUCCESSION PLANNING

A key goal of many of our business owner clients is to someday transfer their business interest to either family members or key employees. Properly done, this type of planning can offer to both the current and successor owner a worry free, tax efficient method of business succession. Furthermore, the loss of a business owner through death or disability can catch even the most efficiently managed small companies off guard and, worse, unprepared to deal with the repercussions. Family businesses, in particular, are susceptible to erosion of capital due to estate taxes and legal fees; not to mention the possible hurdles of voting control being scattered among heirs, with conflicting points of view impeding the business’ operation and growth.

You’ve poured more than effort into your business. You’ve poured in your heart and soul. Not to mention a boatload of nights and weekends. That’s what it takes to grow a business. But the sad truth? It takes far less to destroy what you’ve built. That’s the whole point of talking to a Guardian Financial Representative about our solutions for your burgeoning business. Think of them as a little armor plating to reinforce your business’s most vulnerable areas.

Ensuring steady cash flow

For a growing business, cash is a lot like oxygen — you can’t survive without it for very long. Ensuring your cash flow keeps, well, flowing is essential once your business has hit critical mass. You have a lot of people depending on you: employees, vendors, partners. Personal Protection and Business Overhead Protection can be key to making sure you have a steady flow of cash when the unexpected happens.

The importance of a buy-sell agreement

The concept of a buy-sell agreement is simple. The execution of it, however, is anything but. Triggers, terms, valuation formulas. It takes a knowledgeable professional to get it all right for you. Regardless of the situation, your Guardian Financial Representative can work with you to put your ideas into action.

• The disability provision in the buy-sell agreement is typically backed by a disability income insurance policy. This type of contract protects you or your partner, if one of you is unable to continue working, by allowing one to buy out the other’s share of the business.
• The buy-sell obligation in the agreement, upon death, is typically funded with a life insurance policy, providing the same protection in the event you or your partner dies

Creating your vision for succession

You may see yourself at the helm of your business 40 years from now. But life may have other plans for you. So you should be prepared in case you have to leave your company earlier than expected. That’s precisely why it’s important to define your vision for succession now. Well executed succession plans can take years to execute, so starting those discussions as soon as you’re ready is important. As an owner, you may not want to think about your “exit strategy” – if you do decide to exit, you want it to be on your terms and there are many financial instruments that can make that transition a more seamless event. Life insurance  or disability income insurance can help provide the funding necessary for a smooth succession should something unexpected happen. Or you can hand ownership over to the very people who help your company thrive through an employee benefits plan. Whichever way you decide to go, starting this discussion with a qualified professional can open your eyes to your options and to new possibilities.

RISK MANAGEMENT

Implementing a risk management program is fundamental to a company’s ability to protect itself against the loss of key personnel through death or disabling injury or sickness. TWG offers expertise on selecting life and disability insurance coverage for such a program.

We conduct a financial security analysis to determine the appropriate protection for companies and their key executives, which encompasses evaluating risk management needs and balancing them with living or wealth accumulation objectives. We design risk management programs to be affordable, to fill corporate and individual needs, and to be flexible enough to allow for a change as needs change. Our analysis also involves a review of any existing coverage to ensure it is cost effective and includes up-to-date features.

Through risk management analysis, we can deliver solutions in the form of policies valued and designed according to our clients’ needs.

You work insane hours. You’re juggling bids and business plans and budgets. You rarely have time for lunch. And you can’t imagine it any other way. Yet, one day retirement will beckon. And today is the day to make sure you have plans in place to secure the future you want. For yourself, and for your loved ones. Garrett Wheeler has helped plenty of business owners just like you keep their future in razor-sharp focus.

Keeping your long-term vision in sight

You’ve come a long way since you started your business. A lot has changed. Chances are your retirement needs have too. Taking the time to review your retirement savings strategy now can keep you on target for a prosperous tomorrow. Ask yourself (or, better yet, ask a Garrett Wheeler):

• Can an annuity  help complement my other retirement savings vehicles?
• Would a supplemental executive retirement plan (SERP) better serve my needs?
• Should I be seeking additional investment advice

Preserving the future of your business

Taking chances is part of owning a business. Except when it’s time to pass that business along to the next generation. Even though it may be many years before your even think about stepping aside, you can’t afford to procrastinate — you need an effective succession plan that works now and into the future. Without one, the chances of your business surviving into future generations can dwindle. It starts by asking the right questions. Here are just a few:

• Do I want to pass the business along to my family?
• Will my partner be buying out my share?
• Should I look for somebody other than family members or business partners to be my successor?
• When is the right time to retire?
• What if my successor isn’t ready?

Download Guardian’s Exit Planning guide for small business.

Employee benefits

It’s no longer you, a brilliant idea and a laptop anymore. You have a team. A workforce. Loyal employees who help drive your business forward. As your business grows, so too should your benefit offerings. Not only to retain those who keep your business growing, but to attract new talent who can help it grow in new ways.

Exploring benefits

Offering an enhanced suite of benefits to your employees as your business grows is a natural next step. Benefits can help you stay competitive in your attempts to secure some of the best and brightest from the talent pool. With the help of a Guardian Financial Representative, you may find a healthy return on your benefit investment.