Business Planning

For the Business Owner, Business Planning Is Key

Entrepreneurs and business owners are a different kind of person. Young or old, male or female, it takes a certain type of person to take that step into the independent business world. We understand because each of us at Commonwealth did the same thing. We have great respect for your success and the time and effort that you devote to your business and your employees. We also recognize that you just may want to have more time to devote to yourself and your family or to pursuing other dreams.

As a successful business owner, you know it's important to offer a competitive employee benefits package in order to attract and retain the best people. Setting up such a package can be time consuming and an arduous challenge. These days, employees regard retirement plans as an important requirement of their employment. At Commonwealth, we work with you to evaluate retirement plan products from various vendors to find the best fit for your company. We then help you meet your fiduciary responsibilities by handling aspects of establishing and maintaining the retirement plan, including initial employee information and enrollment meetings, ongoing employee education, and compliance with all regulations.

We'll review with you your entire benefits package on a consistent basis to keep up with changes in regulations and requirements. Our goal is to help you stay on top of the situation and offer a cost-effective, competitive package to your employees.
For the business owner, business planning and personal financial planning are often intertwined. In addition to benefit packages, we take a close look at operational issues, risk management, executive compensation, and succession planning. We also look at key employee insurance and valuation. Business planning is a critical component to wealth management, and a sophisticated plan for your business should be coordinated with your overall financial plan for taxation, investments, insurance, retirement, and estate.