FINANCIAL ADVISOR FOR BUSINESS OWNERS
Tenet Wealth Partners is a fiduciary financial advisor for business owners in Champaign-Urbana, Central Illinois & the Midwest offering succession planning, retirement plans, investments, estate planning & tax planning.
Financial Advisor and Financial Planning Services for Business Owners.
Owning a business comes with unique challenges as complexities as you look to balance both personal and professional financial priorities. Whether you are actively growing your business or preparing to retire or transition your business, it is crucial to integrate your personal planning and goals with those of your business. At Tenet Wealth Partners, our team of financial advisors for business owners provides tailored financial planning services, helping you maximize wealth, protect assets, manage tax implications, and plan strategically for succession. Our dedicated, full-service model allows you to save time, better prioritize and balance personal and business financial goals, and ultimately, find long-term peace of mind.
- Comprehensive Personal & Professional Financial Planning
Your business is not just an asset – it is a core component of your entire financial picture. We will help you evaluate both your personal financial goals along with business financials to build an integrated, all-encompassing plan. We will cover investment management, tax planning, retirement planning, estate planning, insurance, charitable giving, and business succession planning – all in coordination with your other professional partners such as your estate attorney and CPA. Our approach ensures that every financial decision supports both your personal needs and goals in alignment with your professional success. - Business Succession & Transition Planning
Every business owner’s wishes are different when it comes to retirement and the next phase for their company. Whether you plan to pass your company to the next generation, sell to an internal partner, or transition to a third-party buyer, succession planning is critical to preserving the value and longevity of your business. We partner with your tax professional, attorney, and valuation experts to design a transition plan that addresses valuation, tax implications and planning, estate considerations, and retirement planning. Our goal is to help you ensure your transition fully supports your goals, and if you are selling, keep more proceeds in your pocket after taxes for you and your family. - Corporate Retirement Plans (401k & More)
A retirement plan for your company can be both a powerful tool for three key areas: (1.) building your personal retirement nest egg, (2.) providing a valuable benefit and retention tool for your employees, and (3.) potential tax advantages both for you and your business. Our team of financial advisors for business owners help design and manage plans such as 401(k), SEP IRA, SIMPLE IRA, and Cash Balance Pension Plans. Our services include:- 3(21) fiduciary investment advice & the ability to offer 3(38) and 3(16) fiduciary services to reduce your administrative burden
- Proactive education and guidance for you and your participants
- Plan health reviews to monitor cost, participation, and performance
- Investment research, due diligence, and open-architecture fund access
- Tax Planning & Business Owner Strategies
Business owners often have opportunities to strategically mitigate potential tax burdens, both on the business and personal side. Through the use of our advanced tax planning software, we will review your tax returns and identify strategies that may help reduce your tax burden. We will also collaborate closely with your CPA to ensure any planning strategies are properly coordinated. - Investment Management
Our team will manage both business and personal investment portfolios on a custom basis with a focus on tax efficiency and maximizing after-tax returns. Strategies include tax-loss harvesting, asset location, and direct indexing portfolios (a personalized index fund of individual stocks) to align your investments with your goals while enhancing tax efficiency. - Estate Planning & Legacy Protection
For business owners, it is critical to integrate estate planning with your succession plans. We will work closely with your estate planning attorney to review your estate documents, account titling, and gifting strategies (both family and charitable). Whether your goal is to protect heirs, transfer business assets tax-efficiently, or leave a charitable legacy, we will help you structure the most ideal plan for your situation and intentions. - Risk Management & Insurance Review
Being a business owner can come with increased financial risks. We review your life, disability, liability, and buy-sell insurance agreements to ensure proper coverage without unnecessary costs. Our partnerships with independent insurance providers give you access to competitive and customized protection solutions depending on your needs.
If you’re a business owner seeking to balance your personal and business financial plans, contact our team at Tenet Wealth Partners or schedule a meeting with us.