Independent Financial Advisers · Chartered Financial Planners · Discretionary Wealth Managers

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Independent Financial Advisers · Chartered Financial Planners · Discretionary Wealth Managers

Business Protection

  • Advice on consequences of the unexpected loss of key stakeholders
  • Suitable plans and key person insurances

Analyses for our clients often show that protection of their business is regularly of equal, if not even greater significance, than covering their own personal position.

The directors of privately owned limited companies may be concerned that adequate financial arrangements should be in place should a shareholder become ill or die. Key questions should include:

  • Is there a suitable plan in place so that other shareholders or directors are able to purchase the shares from the deceased shareholders estate?
  • Is there a shareholder agreement in place that clearly states the options to the directors and shareholders should that event arise?
  • Would current shareholders be happy if control were to pass to an unknown third party?
  • Is there a suitable plan in place for the succession of your company?

The above questions also apply to partnerships.

The solutions we advise on mean that these questions can be assessed and the correct level of protection provided for, whilst also achieving tax efficiency.

Other areas to consider:

One area of financial planning that is sometimes overlooked by smaller companies and not always reviewed regularly within larger firms, is with respect to their greatest asset of all, their employees.

  • What would happen if a key individual within the company became ill?
  • What would happen to profits as a result?
  • How long and how much would it cost to replace them?

A reliable Key Person Insurance scheme can cover the individuals that are not easy to replace due to their involvement and skills within your organisation.

Key person cover will cover just that; the key people in your organisation. This cover means that if these employees were to become ill or die, the short to medium terms costs can be provided for.

McCarthy Taylor will provide you with expert fee-based advice on the correct level of cover and to ensure these policies are correctly set up, giving you as the Employer the assurance to get on and run your business.