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Business Owners

A man in a business suit is shown with multiple arms, holding various items: a wrench, two telephones, a tablet, a clock, and a cup of coffee. The image suggests multitasking and managing numerous responsibilities simultaneously to achieve personal wealth.

How the Finances of Business Affect Personal Wealth

April 22, 2020

As a business owner, much of your personal wealth is probably intertwined with the success of your business. You may not feel confident navigating the complex financial planning challenges and opportunities that lay ahead. Implementing personal and business goal planning, determining the structure of business ownership and retirement planning, creating a succession plan, managing risks, and surrounding yourself with a competent team of professionals are all steps that are pertinent to you as you grow

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The CARES Act for Business Owners Q&A

April 22, 2020

Small businesses can now apply for SBA loans, designed to retain their workforce, under the Paycheck Protection Program (PPP). Companies can apply for amounts up to the lesser of $10 million, or 2.5x their average payroll costs. Companies can use funds to cover payroll, rent, utilities, mortgage interest, group insurance premiums, and certain other expenses. Eligible payroll costs do not include employees with an annual salary greater than $100,000. Benefits of the CARES Act for

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Business Owners and the SECURE Act

December 27, 2019

For the first time since the passage of the Pension Protection Act (PPA) in 2006, Congress forwarded and the president signed a major piece of retirement legislation. Referred to as the Setting Every Community up for Retirement Enhancement Act (SECURE Act), the law includes a number of provisions that will undoubtedly change the retirement landscape. Although it is early and specific details are scant, we thought we would take the opportunity to comment on a

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The Awesome Potential in Plan Design – 401(k) podcast

July 1, 2019

Are you responsible for choosing a new retirement plan for your company? Are you responsible for evaluating your current one? SYM Financial Vice President and Retirement Plan Advisor Tom Ackmann and Financial Advisor Michelle Hipskind offer valuable insight into factors to consider so your plan fits your needs. From employee retention to maximizing owner benefits, tune in to this podcast hear straightforward advice designed to serve the best interest of you – the plan sponsor.

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Umbrella Liability Insurance: An Overview

July 1, 2019

Umbrella liability coverage is a crucial but often overlooked piece of a financial wellness plan. Its purpose is to protect your assets from major claims and lawsuits by providing liability insurance in excess of the limits of your homeowners’ or automobile policy.  An umbrella policy may also provide initial or additional insurance for circumstances other policies may exclude, including false arrest, libel, slander, and invasion of privacy. You are likely covered against liability at a

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A Good Financial Advisor Extends Well Beyond the Portfolio

June 21, 2019

Particularly during challenging times in the market, it can be easy to forget that the end goal of comprehensive planning goes well beyond choosing investments. Investors who keep a critical eye to their portfolio may sometimes overlook other, more subtle indicators along the path to long-term financial success. These contributions are less quantifiable on a quarterly performance statement, but valuable nonetheless. Cost-effective investment implementation: When measured against overall wealth, the costs associated with investments may

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