Over the past several months, a number of business owners have told me that they are ready to sell but havent pulled the trigger. Most think that if they wait, their business valuations will continue to increase. They are taking a gamble.
There is much talk about the strength of the current sellers market over the next six to 12 months but that could change.
Three major factors significantly affect the value of your business: business optimization, exit planning and the state of the capital markets.
Its the capital markets that are the unknown. So lets first examine business optimization and exit planning.
Business optimization is an internal factor controlled by the owner. Generating an attractive future earnings stream is critical. Various performance drivers strategic business plans, management bench strength and leadership, sales, competitive positioning, marketing, operations, financials, intellectual property and market share impact the buyers investment risk. Owners can continuously improve the strength of these drivers to enhance business value.
Exit planning, another internal factor, focuses on how satisfied the seller will be after the transaction closes. If you are willing to sell now, plan what your life will look like after the sale. Once your goals and exit plans are firmed up, and once your company is ready to go to market, a wealth planning team can help you with estate, tax and wealth management plans that conform to your exit strategy. Your wealth plan should be in place at least three to six months before you go to market.
CHICAGO--(BUSINESS WIRE)--Andersen Tax is pleased to announce the promotions of Sean Bruen, Rosa DeLuna-Frede and Scott Deichmann.
"The addition of Sean, Rosa, and Scott to our team of Managing Directions demonstrates how Andersen Tax recognizes and values professionals who are devoted to serving our clients and developing our people," said Kevin Burns, the firm's Office Managing Director for Chicago. "I am proud to work alongside best-in-class professionals who help make Andersen Tax Chicago a success."
Sean Bruen, with over 15 years of business experience, practices in the firm's Corporate Tax Practice. Sean provides federal and state tax services for C Corps, S Corps and LLCs, including experience in accounting methods, accounting for income taxes, as well as mergers and acquisitions.
Sean specializes in closely-held businesses, transaction cost studies, return review, as well as, quality control and depreciation issues. Sean is passionate about stewardship and spends significant time developing staff. "Stewardship is not just a buzzword at Andersen Tax, the partners really walk the walk and I hope to pay that forward to our younger people," added Chicago Managing Director, Sean Bruen. He has participated on the Training Committee, the Scheduling Committee and the Manager/Director Advisory Council. Sean is also the Recruiting Lead for the University of Notre Dame.
Rosa DeLuna-Frede has over 17 years of experience in advising publicly held and private companies on tax matters such as Accounting for Income Taxes, Accounting Methods, Federal and State Tax Compliance and tax audits. Rosa also focuses in the Mergers and Acquisition area, specifically on tax structuring, tax due diligence, and analyzing the tax treatment of transaction costs.
Rosa has great client relationships and is very focused on the quality of projects and client service. She is very successful at mentoring all levels of personnel from Interns through Senior Managers. Rosa is involved with local office and firmwide training initiatives. In addition, she is also conducting external training in the Accounting for Income Taxes area. As the firm is expanding its footprint into Latin America, she is taking the lead in the Chicago office with respect to Latin American Business Development. Rosa is the recruiting lead for DePaul University and has had significant involvement over the years. Finally, Rosa is very involved with the Women at Andersen Tax initiative.
Scott Deichmann has served clients throughout the country focusing on each familys unique wealth planning objectives and needs. He has over 20 years of tax, estate and wealth planning experience for ultra-high net worth individuals and families. Scott has outstanding technical skills and excels in client relationship management.
Scott is very involved with local office training and recruiting, including co-chairing the Chicago office PCS technical sessions. He is also heavily involved in mentoring and is committed to the development of the staff. Scott strives to provide all of his clients with the best possible solution and not just from a tax perspective. By focusing on client prosperity and training staff, in turn he is helping the next generation of tax professionals develop and expand Andersen Tax.
"Commitment, technical skill and stewardship have instrumental roles in the success and growth of Andersen Tax," added CEO, Mark Vorsatz. "The key to our organization is quality people like Sean, Rosa and Scott; who embody our core values of best-in-class, stewardship, independence, integrity, seamless service and transparency."
Andersen Tax now has 134 Managing Directors in 18 locations in the US, and an international presence in Europe and Latin America through Andersen Global. Overall the firm is promoting eight Managing Directors, two in San Francisco, three in Chicago and one each in Los Angeles, Houston, and Boston.
Ascent Private Capital Management, the high net worth and private office division of US Bank Wealth Management, has named Mark Moeller managing director of investments.
In his new role, Moeller joins Ascent's Investments team led by Joe Hinderer in Minneapolis. He provides investment advice to clients and is responsible for understanding the factors that drive economic and capital-market trends and performance to help clients take advantage of investment opportunities while seeking to mitigate risk.
Moeller has more than 12 years of leadership experience in the investment industry. Prior to joining Ascent, he served as managing director of portfolio management for The Private Client Reserve of US Bank in Minneapolis where he specialized in implementing creative and unique investment strategies for high net worth individuals and families. He previously served as a senior consultant for Slocum amp; Associates, advising nonprofit institutions on their investment policies and structures. He is a chartered financial analyst.
"Mark's strong academic background coupled with his deep investment experience make him an excellent portfolio manager," says Jose Peris, regional managing director for Ascent in Minneapolis. "His innovative mind and unique ability to render complicated subjects into easy-to-understand conversations will be appreciated by our clients."
Ascent Private Capital Management advises individuals and families with $75 million or more in net worth with wealth planning, investment management, trust and estate, private banking and family office advisory services. The firm manages more $5.6 billion in assets across traditional and alternative strategies as part of US Bank's $38 billion wealth management arm.
Bloomsbury True Wealth has announced that founder Jason Butler has left the firm, after selling his stake to long-standing principals Carolyn Gowen and Robert Lockie.
The City-based financial planning boutique was established in 1998 and since 2005 it has operated as an independent contractor branch of Raymond James Investment Services.
Mr Butler explained that after 25 years as an adviser, he will focus on writing, public speaking and financial education activity.
Having worked with Carolyn and Robert for many years, I am confident that I am leaving the business in good hands and it will continue to prosper in the years ahead.
Ms Gowen stated that the whole team recognised the contribution Mr Butler made over the past 17 years.
Robert and I are very excited about taking Bloomsbury forward to the next stage of development and to build on the solid base that has been achieved so far.
She joined the firm in 2003, becoming a principal in 2005, and is responsible for ensuring the firm delivers on its service promises and oversees wealth plan implementation.
Mr Lockie has been at the firm since 2001, becoming a partner in 2005, and overseeing all financial planning work and investment confirmations carried out by wealth planning managers.