Services for Business Owners
Here at Harty Financial, we offer a wide array of services to help
business owners address their financial needs at every stage of the business life cycle. Taking
into account their personal values and financial goals, we create and execute customized
strategies to help entrepreneurs meet their objectives. Some of our key services are detailed
below.
Executive Benefits
The success of most businesses is tied into the talent, passion and work ethics of their
key executives. Executive benefit packages can help you attract, motivate, and retain
high-caliber employees and keep your company healthy and stable. We can help you with
funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and
more.
Succession Planning
Succession planning allows owners to leave their business on their own timeframe while
preparing their company to be transferred to family members, key employees, an outside
party, or even a charity. This must be done in a way that achieves personal financial
security, maintains harmony, and achieves maximum value for the business.
Key Person Insurance
Key person life insurance offers a death benefit that helps indemnifies an employer for the
loss of one of its most important assets - the key person. This can help assure continuity
of the business for employees, customers and creditors, and protects against losses in
sales, momentum, and credit. It can also be used to assist with recruiting and developing a
replacement for the employee.
Funding Buy-Sell
Agreements
A buy–sell agreement is a legally binding agreement between co-owners of a business that
governs the situation if a co-owner dies or leaves the business, whether by force or by
choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that
the arrangement is properly funded so that there will be money when the event is triggered.
Funding Deferred
Compensation
Deferred compensation is a written agreement between an employer and an employee where the
employee chooses to have part of his or her compensation withheld by the company, invested
on their behalf, and distributed back to them at a pre-determined point in the future.
Deferred compensation can be used as a flexible way to attract and incentivize key
employees.
Wealth Management and
Retirement Planning
We work with our clients to design and implement a variety of accumulation and retirement
income plans, offering insurance products, investment programs ranging from separately
managed portfolios of stocks and bonds to mutual funds, and access to third-party wealth
management programs. We offer a consistent process to help ensure management of investment
assets according to your goals, risk tolerances and time horizon. We then monitor your plan
on a continual basis, and adjust and evolve as your needs change.
Disability and Extended
Care Needs
To execute a sound retirement strategy, asset and income protection are a must. Designing a
plan that encompasses managing costs for extended periods of care and disability insurance
can help create the necessary balance in a portfolio to ensure stability and protection of
assets.
Life Insurance
Many people think that life insurance is only for people with families. While it is true
that life insurance can help provide for the needs of dependents, life insurance also can be
an important part of a well-thought-out estate, business succession or charitable giving
plan. And permanent life insurance offers many living benefits as well, such as tax-deferred
cash value accumulation. For all of these reasons, life insurance can be important for
someone starting out - or for someone who's starting over.
Whole Life
Whole Life insurance is also known as permanent insurance. You receive coverage for
your entire life, as long as premiums (which are a set amount per period) are paid.
Whole life policies accumulate cash value tax-deferred.
Term Life
Term Life policies provide coverage for a specific amount of time - such as 5 years, 10
years or 20 years. Term premiums are often less expensive than whole life premiums, but
once the term of the policy is complete, coverage terminates. There is no accumulation
of cash value.
Universal Life
Like Whole Life, Universal Life is a permanent insurance policy, which means that it
covers you for your entire life, as long as premiums are paid. Universal life, however,
offers you flexibility that enables you to change your premiums and death benefit as
your needs change. This policy will terminate if at any time the cash surrender value is
insufficient to pay the monthly deductions. This can happen due to insufficient premium
payments, if loans or withdrawals are made, or if current interest rate or charges
fluctuate.
Survivorship Life
Survivorship life insurance - available as whole life, universal life or variable
universal life - covers two people and provides payment of the proceeds when the second
insured individual dies. Survivorship life insurance is often used to help meet estate
planning or business continuation goals.
Asset Protection
There are numerous financial strategies and retirement income plans that can help you
accumulate assets for the future, shield your business and personal assets from liabilities,
and safeguard asset transfer to children and grandchildren. We can help you figure out what
the right course of action is for your specific situation and objectives.
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