Help small business owners build legacy and maximize value

For many small business owners, the business is more than just a job - it’s a legacy built from years of dedication. It provides for their families, supports employees and communities, and represents future opportunity. As part of the historic Great Wealth Transfer, nearly 12 million businesses - representing a significant share of the $10 trillion in assets baby boomers will pass on or sell - are positioned for transition in the coming decades.¹

With so much at stake, small business owners need more than plans for transitioning away from the business - they need legacy strategies. It's essential that they establish an estate plan to minimize financial inefficiencies, tax burdens, and potential family conflicts. By helping your small business owner clients prepare, you not only strengthen their financial foundation but also position yourself to support their families for generations. And the comprehensive financial plan you help them craft can protect their vision, prepare for the future, and ensure the business they built continues to thrive - for the next generation of leadership and for the team that powers it. 

Start with Strategy: Expanding the Exit Planning Conversation

Many small business owners are so focused on the day-to-day that they delay conversations about retirement, exit strategies, or succession. But the earlier they begin planning, the more options - and value - they preserve. Whether the goal is to sell to a competitor, transition to a family member, or pass ownership to employees, a proactive approach supports both continuity and confidence. 

As a trusted resource, you can help clients: 

• Clarify their long-term goals 
• Evaluate the business’s financial health with your legal or tax professional 
• Assess family or leadership interest in succession 
• Work with their attorney and tax professional to explore flexible options for transition, including gradual exit timelines

This type of strategic foresight not only helps to reduce disruption - it increases business resilience. 

Investing in People: Key to Continuity and Business Value

A well-supported, engaged workforce is one of the most valuable assets a business can have - especially during a leadership transition. Helping small business owners retain key talent can directly impact enterprise value, customer confidence, and operational continuity. 

Encourage your clients to: 

• Identify and engage key employees early 
• Build retention plans into succession strategy
• Offer meaningful compensation and income protection benefits 
• Provide access to financial education tools that build employee confidence and loyalty 

New legislation has made pooled employer plans (PEPs) more accessible, allowing small businesses to offer retirement benefits more affordably while easing administrative demands. Complementing this, voluntary benefits such as dental, disability, accident, and hospital indemnity insurance give employees the flexibility to select coverage that meets their personal and family needs. These investments not only support retention and morale today - they also enhance the long-term value and continuity of the business, whether it’s passed to the next generation, sold to a buyer, or transitioned to employees. 

A Holistic Plan: Aligning Business Goals with Personal Wealth

It’s common for small business owners to consider their business as part of their personal identity - and their retirement plan – setting up advisors to play a critical role in helping them align business and personal goals. 

Start with a plan that incorporates: 

• Short- and long-term financial goals 
• Succession timelines and contingency planning 
• Diversification of assets to reduce dependency on business liquidity 
• Retirement income planning tailored to post-ownership aspirations 

Incorporating strategies like life insurance, annuities, and retirement savings plans can add financial flexibility and improve tax efficiency, while helping clients create a sustainable income stream outside of the business. 

Facilitating Meaningful Conversations

Conversations around estate planning, succession, and family business transfers can be sensitive - but they’re also essential. By acting as an objective, strategic professional, you can help guide clients through complex decisions and facilitate constructive dialogue among stakeholders. 

Support them by collaborating with their estate and legal professionals in: 

• Introducing estate equalization strategies (e.g., life insurance or lifetime gifting) 
• Clarifying the financial implications of succession or sale 
• Helping heirs and future leaders understand roles and expectations
• Advocating for transparency and regular communication throughout the process 

These actions help preserve not only family harmony but also business momentum during and after a transition. 

Charting a Confident Path Forward

As small business owner clients prepare for their next chapter - be it selling the business, transitioning to heirs, or opting to retire in place - you can ground their optimism in reality. A well-structured plan works to ensure their business continues to thrive while supporting their long-term financial security.  

Your role can reach beyond financial strategies - you're working with their team of professionals to help shape a legacy, retain valuable talent, and ensure business strength through change. 

With thoughtful, forward-looking guidance, you can help clients maximize the value of what they've built - while preparing them and their team for lasting success. 

¹The Great Wealth Transfer: A New Horizon for Entrepreneurs