Small Business Owner Case Study

David, 60 | Primary goal: work towards retirement while successfully transitioning his business

David has built a successful construction business that generates around $4 million a year in revenue, and has a team of 15 employees. David's wife, Lori, works as the office manager and helps with customer service. As he gets older, David has been seriously considering the idea of selling his business so he can spend more time with his wife (and out on the golf course!)

The Challenge:

David is an expert when it comes to running his business. However; he isn't sure where to start when it comes to preparing his business for transition. He feels overwhelmed, and lacks the time to pull everything together himself.

The Approach:

After a few weeks of online research and attempting to do everything himself, David knew that he needed help. He remembered a few years back his contractor sold his business, and decided to give him a call. Turns out, his contractor hired Cousino Wealth Advisors to help him prepare for the transition.

David decided to do the same.

A Personalized Plan:

From the initial conversation with the Cousino Team, David had a plan that helped him:

• Establish a Transition Plan that gave David concrete steps for the next 5 years.
• Create a tax management plan, in addition to utilizing the advisor's comprehensive wealth management services.
• Build out an "employee communication plan" that helped David manage expectations for his team.
• Design a comprehensive retirement plan that factored in his retirement goals.

Disclaimer: The above case studies are hypothetical and do not involve an actual Cousino Wealth Advisors client. No portion of the content should be construed by a client or prospective client as a guarantee that he/she will experience the same or certain level of results or satisfaction if Cousino Wealth Advisors is engaged to provide investment advisory services.