Harbor Wealth Management Group helps business owners create business legacy
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usiness owners are focused on running their business, making day-to-day decisions and dealing with the crisis of the moment. But Harbour Wealth Management Group wants those business owners to think ahead to the type of legacy they would like for themselves and their business. Although Harbour Wealth Management Group assists clients with a variety of wealth management needs, it has unique expertise in helping business owners realize the value of their businesses and executive retirement benefits. “We consult with business owners to think strategically about the end game of their business and the legacy they hope to leave,” explained Matthew Pardieck, Vice President of Investments. The Harbour Wealth Management team works with business owners’ legal and accounting team to proactively review buy/sell agreements, ownership plans and taxes with the objective of avoiding potential pitfalls and taking advantage of opportunities. Succession planning is an aspect of financial management Pardieck said is important for business owners to think about well in advance of their impending retirement or desire to sell. “When the moment of transition occurs, which is sometimes sooner than planned, if you’re too tied into the business and it’s hard to identify that income stream your business creates, value may be lost,” he said. A part of planning for the future is assessing how a business attracts and retains key talent,
so executive benefits are an important aspect of succession planning, Pardieck said. “You want to have good people there who can run things when you’re gone. So how will you keep them there?” These executive benefits, business agreements, employee stock ownership plans, personal objectives and retirement plans are all interrelated and it’s important to select an advisor who has the appropriate experience. In the coming months, succession planning will be even more critical. While tax rates have remained low the last few years, they are scheduled to increase significantly next year. Whereas in the recent past, business owners might have been able to transition with minimal taxes, that’s all about to change. “There is a window of opportunity in 2012 that we haven’t seen in many years,” Pardieck said. Harbour Wealth Management’s expertise in succession planning coupled with the history and resources of its parent group, Raymond James, makes it a solid choice for Charleston area business owners. Founded in 1962 and a public company since 1962, Raymond James is a diversified financial services holding company with subsidiaries engaged primarily in investment and financial planning, in addition to investment banking and asset management. It has enjoyed 96 consecutive quarters of profitability. Past performance does not guarantee future results. Investing involves risk and you may incur a profit or loss. As federal and state tax rules are subject to frequent changes, you should consult with a qualified tax advisor prior to making any investment decision.
Pictured Above: From left: Chris Corley, Lindsey Robinson, Matt Pardieck and Honey Johnson.
About the Team: With over 30 years collective experience, team members have over 4 professional designations and an MBA. Matt was also recognized as a ‘40 Under 40’ recipient in 2004 and is a Leadership Charleston graduate.
28 Bridgeside Blvd., Suite 203 Mt. Pleasant, SC 29464 843-416-1033 www.harbourwealthmanagement.com
Special Advertising Supplement | 2012 Profiles in Business
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