Business Planning

Successful businesses, much like life, develop over time. Along the way there are many milestones to celebrate and, as your business evolves, there will be many new opportunities and decisions. Even beyond taking that first loan, deploying an employee retention program, or evaluating the sale of a business, SOUND Wealth Management Group will take the time to get to know you and your business and will provide the professional counsel and disciplined planning to help you meet your goals.

Company Sponsored Retirement Plans

Many business owners are faced with an increasing need to provide a competitive retirement benefit plan for themselves and their employees. SOUND Wealth Management Group and Raymond James are well versed on all available retirement plan structures. We can help you design and manage the right plan, analyze an existing plan, and/or custodian your plan assets and manage the investments.

Business retirement plan structures include:

  • Simplified Employee Pension (SEP) Plans
  • SIMPLE IRA Plans
  • Profit Sharing Plans
  • 401(k) Profit Sharing Plans
  • Roth 401(k) Profit Sharing Plans
  • 401(k) Safe Harbor Plans
  • Owner Only/One-Person 401(k) Plans
  • Defined Benefit Pension Plans

Selecting the right retirement plan structure can have significant future impact. SOUND Wealth Management Group looks forward to exploring how contributions to a retirement plan today can help you and your employees meet tomorrow’s goals.

Key Person Insurance

You have developed your business through years of hard work and sacrifice; you, and possibly a select group of other people, are likely critical to the ongoing success of the company. Hopefully, you will never lose an invaluable associate, but if you do, having a key person life insurance policy can help protect the business and ensure the availability of funds to continue operation after an unfortunate event.

When evaluating key person insurance, one should consider the following:

  • Disruption in sales or business production
  • Weakening of the company’s credit rating
  • Expenses associated with recruiting and training a suitable replacement
  • Loss of management skills and experience
  • Repayment of company indebtedness, if any

Through a thorough discussion of your business arrangement, SOUND Wealth Management Group of Raymond James can help determine if key person insurance may be an appropriate precaution for your company.