Having the right Business Value Protection Planning team is a high priority for a business owner. Those owners who understand and demand this experience far less frustration in the planning process.

The second of the three planning principles at Marshall+Viliesis is Partnership. It gets to the heart of the need for a team of professionals working together for the benefit of the business owner. 

Sole Proprietors can get by with a Single Advisor in most cases and Large Companies have access to Full Service Consulting Firms with the needed team members already in place. It is easy to understand why studies have shown a majority of business owners are not sure about where to begin. There is not an existing team in place. It will take a bit of effort to identify advisors with the skills required. Your existing advisors should be able to help you get started. So how will you know if you have the right team in place? There are three indicators to help you know.

Clarity – Communication – Confidence

Clarity – When you have clarity about the value protection planning areas and the role each advisor plays then you are on the right track. It is the responsibility of your advisors to bring clarity to you. If you are not clear then they have not done their job.

Communication – Require your advisors to communicate effectively with you and with each other. It is their job to make this a priority and the only way the planning done will be coordinated and complete.

Confidence – When you look at the team assembled to do the work for you and you have a sense of confidence then you are ready to get started. Hoping it works out is not a strategy. 

Additional Benefits of Partnership

Your planning team working in partnership will hold each other accountable. This is a huge benefit to you. The planning solutions designed are vetted by your Attorney, CPA, Financial Advisor and others. In partnership they deliver complete solutions. Embrace the partnership approach to planning. Make it a requirement for your advisors to embrace working in partnership. This saves you time, money and eliminates much of the frustration associated with planning.

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