Concerns Business Owner’s Should Revisit – Don’t Forget A Business Review

Whether you have one employee or many, being a business owner is hard work and no matter how hard you try there always seems to be a growing list of tasks that need your attention. I both sympathize and empathize with you.  

For me personally, I started Castle Wealth Advisors, LLC because I felt there were many individuals, families, and businesses who were underserved by the investing and financial planning industry.  I wanted to provide an ethical and approachable financial planning and investment management service to individuals, families, and business owners who were concerned with their financial futures or just had a few questions, regardless of age, sex, race, or net worth.  That was very important to me and it still is today.  


The paths that leads business owners to start their own companies will vary greatly from business owner to business owner.  Sure, we started our companies because we felt there was something we could add to our industries that would be new, make a difference, or help people.  However, there is one common theme among us.  We all need help along the way to ensure we have made informed decisions with regard to our companies.  

Given today’s environment of low interest rates and the increasing volatility in equity markets, many investment portfolios are at risk and for those who own their own businesses the stakes can  be even higher.  This has caused many business owners to re-think their strategies  and goals, both personally and from a comprehensive business perspective.  


If you own your own business here are a few areas to consider:

1.    Business Valuations:

When we first start companies we are focused with gathering customers and paying the bills. Oftentimes the business valuation review takes a backseat until there is a triggering event (the sale or transfer of the business).  However, sometimes these triggering events come too late and the preparation/ planning needs have gone unmet.  Other times, a business valuation has been done and checked off the list.  Business valuations change over time and should be reviewed regularly.  It’s a good idea to work with someone who can provide informal business valuation services. 


2.    Business Succession/ Continuation Planning:

Business succession and continuation planning is another area business owner should review on a regular basis. Having pre-funded, up-to-date plans in place allows you as the owners to transition out of the business in the time frame you have in mind and close to the value that may met your needs. 


3.    Review Any Existing Company-Owned Insurance Policies and Documents:

Existing company-owned insurance policies and accompanying documents need to be reviewed to make sure they still fit you and your company’s needs for desired liquidity, protection, and cash flow. 


4.    Executive Benefit Plans:

If you used any type of executive benefit plans to recruit/ retain top talent. Then those plans should be reviewed at least every two years. 


5.    Beneficiary Designations:

As simple as it may sound, beneficiary designations are often forgotten and not reviewed to ensure they are still accurate and fit your overall financial planning needs.  The beneficiary designations on all policies should be reviewed annually. 


If you are a business owner or are considering making the transition into business ownership.  I encourage you to put sometime on your calendar to conduct a business review with you trusted advisors.  By setting this important review/ planning time aside you could be greatly  benefiting yourself in many ways both in your personal and business finances.    If you don’t have a trusted advisor, are unsure/ have questions about your business, and are located in California or Alabama Castle Wealth Advisors, LLC would be happy to discuss your situation and offer guidance.  Check us out to learn more about business planningand who we are


This information is general in nature and may be subject to change.  Financial professionals and other representatives are not authorized to give legal, tax or accounting advice. Applicable laws and regulations are complex and subject to change. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. For advice concerning your individual circumstances, consult a professional attorney, tax advisor or accountant.

Securities offered through NMS Capital Advisors, LLC, Member FINRA/SIPC. Advisory products and services offered through Castle Wealth Advisors, LLC, a Registered Investment Advisor. NMS Capital Advisors, LLC and Castle Wealth Advisors, LLC are unaffiliated entities.

Heather Castle

I am originally from Virginia and grew up in Tuscaloosa, Al.  I completed both of my degrees at the University of Alabama.  My undergrad degree in Finance and then later my MBA from the Manderson Business School through their Executive MBA program. 

I started Castle Wealth Advisors, LLC because I wanted to provide ethical and approachable financial planning and investment management to individuals and business owners, concerned with their financial futures, regardless of age, sex, race, or net worth.

I've always believed clients should work with reputable, qualified, and experienced advisors.  So it was important to me to gain industry experience as well as pursuing additional industry specific designations.  I have passed the following licensing exams:

     Series 7, General Securities Representative

     Series 66, Investment Advisor Representative 

     Series 9 & 10, General Securities Sales Supervisor

     California Life, Health, and Variable Insurance (License #0K01554)

I have been in the financial services industry since 2006 and have work with many differing type of clients over the years.  One thing I know to be true, everyone wants to feel heard and cared about.  Meaning everyone I have ever worked with wants to feel like their desires, wants and needs have been heard and taken into consideration when speaking about their personal financial matters.

Many people have the same goals, they just express them differently, and then there are a few who’s view and desires are completely different.  This is one of the aspects I love about my job.  The PEOPLE!  I get to meet some many interesting people and they challenge me daily.  No day in my line of work is the same.  Today I could be planning for a family who owns a small business and tomorrow working with a women going through a painful divorce.  Listening and building financial plans and strategies around personal needs is why many of my clients have said they do business with me and have stayed with me. 

Another reason I love my job… I get to truly HELP people.  I get to make a living and provide for my family while helping others.  Over my career I have felt a need to dive deeper into financial planning and working with high net worth individuals who have greater planning and investing needs.  Listed below I have highlighted a few of the areas I specialize in:

·      Women in transition (divorce/ death)

·      Corporate Executives

·      Young Entrepreneurs

·      Small Business Owners

·      Family with Special Needs Members

·      Complex Retirement and Estate Planning Needs

Currently I live in Brentwood and really enjoy the West Side of Los Angeles.  I am actively involved with the Junior League of Los Angeles.  I have a passion for trying new things and new experiences.  So, in my free time I love traveling and scuba diving.  I also am interested in learning French, taking pilot’s lessons and dancing the tango!