David has built a successful HVAC company that generates around $4 million a year in revenue, and has a team of 5 technicians. David’s wife, Lori, works as the office manager and helps with customer service. As he gets older, David has been seriously considering the idea of selling his business so he can spend more time with his wife in their favorite place – Lake Tahoe!

The Challenge

David is an expert when it comes to running his business. However; he isn’t sure where to start when it comes to preparing his business for a sale. He feels overwhelmed, and lacks the time to pull everything together himself. Additionally, he knows the sale of his business will provide him with a large sum of cash and wouldn’t feel confident moving money around without a professional opinion.

The Approach

After a few weeks of online research and attempting to do everything himself, David knew that he needed help. He remembered a few years back his contractor sold his business, and decided to give him a call. Turns out, his contractor hired a local financial advisor to create an actionable plan to maximize the value of his business.

David did the same, and found Legacy Wealth Planning through a Google search. He was extremely impressed with their positive reviews, and decided to schedule a meeting.

The Results

From the initial conversation with the LWP Team, David knew he made the right decision. In collaboration with his tax and legal experts, he:

• Established a plan that give David concrete steps for the next 5 years.

• Understood how much his business might sell for, and how they were going to source buyers.

• Created a tax management plan, in addition to utilizing the advisor’s comprehensive wealth management services.

• Built out an “employee communication plan” that helped David manage expectations for his technicians.

• Designed a comprehensive retirement plan that factored in his retirement goals.

If this sounds like you, consider meeting with us today to see how we can help prepare you for retirement!