Business succession & sale

The Ritcey Report

Written by Lynn Healy-Goulet
August 31, 2016

At Team Ritcey we recognize that we are in the middle of the largest exit of business assets in history. Approximately $40 trillion is in transition in the United States and Canada alone. That transition is happening now. Your business is, potentially, part of it.

In our experience as wealth advisors, business owners are crystal clear about one issue: Founding your company is the single most important financial decision you ever made. But they are less clear about an, equally crucial, second issue: The importance of an exit strategy.

Astonishingly, only about 10% of business owners have a written business sale or succession plan. To say that the remaining 90% are floundering in the dark is an understatement. Especially considering the consequences of a mistake.

As a business owner, you know how dramatically the financial landscape has changed in the past few years. Historically low interest rates make fixed-rate investments unattractive at the very time when, especially if you are contemplating retirement, you need them most.

A company – particularly one that is family-owned – typically represents more than half of the value of its owner’s estate at the time the owner decides to dispose of it. The stakes are high. As a business owner, the difference between getting your exit strategy right and getting it wrong can be huge in terms of wealth preservation, tax savings, family financial security, and peace of mind.

Working in collaboration with the business succession and sale experts at Scotia Wealth Management and supported by the expertise of an accounting company and a law firm – both of which are readily available to us in the Annapolis Valley area – the Ritcey Team can initiate and manage the development of a credible and coherent exit plan for your business.

We have worked with several local business owners – and ownership groups – in the past few years to help them maximize their corporate assets, organize their company for sale to a third party, transfer it to family members, or structure a management buyout.

You have worked hard to create a durable business legacy.

The Ritcey Team welcomes the opportunity to show you how to preserve, protect and maximize the value of what you’ve taken so much time and trouble to build.