CIA Preps Clients for the Sale of Their Business

Mitchell Reiner, an Atlanta-based certified financial planner, encourages clients who are looking forward to a big business sale to get involved in charitable giving well beforehand, often through a donor-advised fund. This way, they not only become familiar with the basics of philanthropy, but may also have a chance to develop a new personal and financial purpose in life before they give up the role of business owner.

For business owners who have been logging 80-hour work weeks for many years, drawing a modest salary while building their business, and now planning to cash in – the role the Financial Adviser can involve a lot more than money.

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Business owners thinking about selling should think beyond their bank accounts. Preparing the whole family well in advance of a business sale is crucial. A business sale is likely to mean a change in income and possibly in expenses.

Make sure your adviser is also discussing the basics of investing since business owners often put most of their savings back into their companies and are too busy to learn about the financial markets.

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