Every business is different, but the goals of most business owners are the same: Financial success and security.
Will Stone, Certified Financial Planner™ and Christal Apestegui, Registered Associate at McMullin, Stone & Associates specialize in helping professional women navigate these challenges.
“These women are incredibly capable,” Apestegui says. “They are business owners and corporate executives. But they need someone who can be a sounding board and help put the pieces in order. As a business owner, it’s easy to get caught up in the day-to-day. We help people look at what their goals are so they have more freedom, more independence and more control over their time and money.”
The transition between jobs and industries can become especially challenging. Stone recalls a client named Mary* (name changed), a physician, who was part of a large medical group that dissolved. She and some others then joined to form a new medical group.
“A lot of our conversations during that time were about how she was structuring the business and what type of legal entity the business was going to be, which took into consideration what her attorney and her accountant suggested,” Stone says. “We had to figure out how to transition her retirement plan from the old company to a new plan, and how different investments should be positioned. We discussed how she would set up her practice so that she could spend time doing what she really loved, which was practicing medicine, and more time with her family, rather than worrying about bookkeeping, benefits and payroll.”
Setting long-term goals for the business is the ultimate priority. Stone says, “Even if the owner doesn’t have all the answers right now, as the business grows we can have strategies on how to use the business to enhance her personal life and the life of her family.”
One of McMullin Stone’s newer clients, Renee* (name changed), has been working hard to build her business to a point where now she’s got options on how to plan for the future. She runs a consulting business that relies on contracts with other businesses in order to survive, and wants to buy property up in the mountains for a personal retreat someday.
“We’re taking the time to understand the structure of the business so that we can help her implement a customized retirement plan and executive compensation program,” Stone explains. “One of the things I routinely say is that an individual’s biggest asset is their earning power. For a business owner it’s important to consider how to use the profitability of the business from tax and legal standpoints, so that she can work towards the long term future she wants.”
Adds Stone, “Our role is also to help uncover and address issues that they may not have the time to see. Just as an individual needs to think about planning for themselves in terms of incapacity or premature death, a business owner needs to think about having a business will. What happens to the business if something happens to the owner?”
“What creates anxiety in our lives are important questions that we don’t know the answers to,” Stone says. “Not knowing where one is in terms of financial security or financial independence does create a lot of anxiety.”
Adds Apestegui, “We help address the questions that are keeping them up at night.”
At the heart of the conversation, Apestegui says, are questions like “What worries you?” and “Where would you like to be headed?”
“Generally women are good planners,” she says. “They have an idea of what they’d like to accomplish. But they may not know all the steps. We can lay out the steps.”
McMullin Stone accommodates busy professional women via phone and video conferencing. Brief conversations will lead to more in-depth consultations.
For more information or to schedule a session, call 770-471-6674 or email firstname.lastname@example.org.
Securities offered through Raymond James Financial Services, Inc., member FINRA/SIPC. Investment advisory services offered through Raymond James Financial Services Advisors, Inc. McMullin Stone and Associates is not a registered broker/dealer and is independent of Raymond James Financial Services. Any opinions are those of Will Stone or Christal Apestegui and not necessarily those of RJFS or Raymond James.