Starting a Business

Starting a new business can be an incredibly rewarding professional endeavor. However, there are several considerations to ensure your personal finances and your business’s finances are protected from risk and positioned for success.

Find An Adviser How We Work

What you need to do

Key steps to consider, what to watch out for, and ways advisers can help when planning your business strategy.

Find Your Adviser

Assess Costs and Personal Liability

Startup costs and potential funding needs for your business entity should be accounted for in advance in order to limit risk and ensure accurate budgeting.
Determine the Optimal Business Structure

Identify whether a sole proprietorship, partnership, Limited Liability Company (LLC), C-corporation or S-corporation is the right fit for your business.
Fulfill Tax Obligations

State and federal regulations for taxes, but also licensing and zoning rules, will all apply to your business.
Set Up Insurance

Securing sufficient insurance coverage is necessary before a company opens its doors to reduce the risk of substantial financial damage.

How can advisers help?

Find Your Adviser

Certified Public Accountant (CPA)
Corporate Structure
Evaluate the tradeoffs of the different structures for your business.

QSBS
Access lower or no taxes on your company’s growth if you qualify for Qualified Small Business Stock (QSBS).
Trust & Estate Attorney
Lower Risk
Mitigate your personal liability and overall business risk in areas including personnel, insurance, your family’s liability.

Complex Situation
Work with an attorney if you have a large estate ($20M+), live in a state with estate taxes below the federal level, or you expect that the value of your new company may rise significantly in the future.
Financial Adviser
Lifestyle Planning
Recalibrate your expected income, risk tolerance, and personal costs and budgeting based on your changing financial situation.

Holistic Financial Strategy
Plan your personal short- and long-term investment strategies and goals around your potential business outcomes.