Business Succession
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We help business owners think through and properly plan for the various aspects of business continuity.
From vision clarity to insurance funding for the unforeseen, our work helps to provide entrepreneurs clarity and protection in this vital planning area.
Our interest and work in this field was greatly enhanced with the sudden death of Vernon W. Holleman, Jr. in 1999. Vernon Holleman III, CLU, who now runs the firm, and his dad were hours from speaking on the subject of succession planning to M Financial peers when Vernon Jr. died of a heart attack. Vernon III learned firsthand how the political and emotional aspects of succession planning are truly key to a successful transition. To address this, the firm has built a consulting process to address and deal with these important issues/pieces. It is our firm belief that tackling the political and emotional issues of succession prior to specific ownership (stock) and control issues leads to far more planning success, not to mention peace. We feel far too many advisors do not pay enough mind to these thornier issues and focus exclusively on stock ownership and planning techniques, only to see things unravel later.
Our work in this area ranges from the complex to the simple; from being the quarterback to being a member of the special teams. For example, it is not uncommon that we will simply help business owners with key-person and buy-sell policy acquisitions. We also will do a thorough and in-depth examination of family business member dynamics and strengths to help position each family member to better understand one another and be more productive in their role today, while understand the game plan (and road ahead) for the future. We are comfortable in either role, but certainly like to see those we are working with not avoid the 800lb. gorillas that are often in the business succession planning room.