What’s next? Combined business exit and financial advice for entrepreneurs

As a professional adviser working with entrepreneurs as they approach a capital event, you already know the level of expertise, collaboration and time required to get the desired result.

At Evelyn Partners we have been working with business owners for many years and firmly believe that we are the extra voice you need around the table when you're advising your clients through their business exit. Where you help them secure the best deal they can, we take the torch to help them plan their personal finances.

We believe that although the start-up market has many advisers, the exit market is underserved when it comes to helping entrepreneurs embrace what’s next. In our view, collaboration is key to success, and we work with advisers with the aim to provide the best long-term outcomes for entrepreneurs.

Most entrepreneurs have been so focused on making a success of their business that they have had little time to consider their personal finances. On top of this, they are often already experiencing deal fatigue and are seeking relief from the complexities of the sale when planning the next steps. ​​

From working with entrepreneurs over the years, we know that they want an expert to save them time, give the right advice at each stage of their journey and understand them as a person. They value responsive service, transparent fees and a well-known company with a strong reputation. At the same time, they are looking for consistent performance and creative ideas, and they are willing to take risks.

The sale process can be complex and challenging, whilst also bringing inspiration of the possibilities for their new-found wealth.

Trusted wealth management advice will help them achieve the best financial outcomes and embrace what’s next. After all, the sale of their business is just the beginning.

To avoid rushed, last minute planning, the sooner we can meet the client, the better. For example, if given a two year from exit timeline, our financial planners can ensure that structuring is optimised for the entrepreneur, and our investment managers can start to educate them on the transition from income to capital.

One of the key ways we can help during the deal process is to utilise cashflow modelling. We talk about the sale, expected proceeds, personal expenditure and how their finances could look in the future. This process helps put context around the expected deal figure. On paper, a figure is just that – a number. Cashflow modelling brings that number to life, showing the lifestyle it can provide.

We take this figure along with details of any other assets to help the client answer questions such as:

•    How much do I need to fund my lifestyle?
•    What impact does my tax bill and earn out have?
•    What will my inheritance tax bill look like?
•    Can I afford to make significant purchases or gift money to family members?
•    How much can I spend each year?
•    How much should I put in a ‘fun fund’, and how much should I save and invest?

Thinking about the answers to these types of questions can help a business owner focus on the sale process while also providing clarity about their future.

Evelyn Partners delivers expertise in both financial planning and investment management with extensive experience of working with business owners and their advisers.

We can help you provide a combined wealth management service to your clients, while adding value to each stage of the sale process. By working with you and your team we can help deliver a seamless transition from business to personal wealth.

Along the way we can:

•    Help them focus on what the deal will enable them to achieve 
•    Highlight how any upcoming tax changes may affect them personally and how these can be addressed during the sale process
•    Illustrate how a lump sum might look post-deal
•    Educate them on post-deal opportunities for investing
•    Help to preserve and grow their wealth, with a focus on protecting what they have worked so hard to build
•    Provide them with expert advice and access to a network of entrepreneurs who have walked in their shoes.

We also understand that each client is different and tailor our approach and process accordingly.

For generations we’ve partnered with advisers to build partnerships that are collaborative and results focussed. We work with advisers at every level to provide them with technical insights, networking events and referral opportunities.

As experts in our field, we can support you with the expertise, tools and world class investment opportunities to maximise your client’s business exit outcomes and investment returns. Our aim is to work with you to give entrepreneurs the inspiration to embrace what’s next.

To discuss how Evelyn Partners can work with your clients to navigate this transition, book an appointment.