Successfully Onboarding a New CEO David Fritz was featured in the article, “Strategy, Relationships and Communication,” in the Wisconsin Bankers Association (WBA)’s March 2019 magazine. The article discussed ways to successfully onboard a new CEO. According to Fritz, “A new CEO who is not effectively onboarded – no matter how qualified for the role –… Read more »
Fixed Rate Nonqualified Compensation Plan
Fixed Rate Nonqualified Compensation Plan As employers review their executive benefit packages in 2019, one old-fashioned plan design might come into vogue. That is the Fixed Rate Nonqualified Deferred Compensation Plan. For years, employers have offered their executives the opportunity to defer salary, bonus and equity compensation as a way to manage personal income tax,… Read more »
WHITEPAPER: Investing with Tight Liquidity
Management teams are responsible for ensuring that their company’s investments are getting the best returns. One investment option that they may consider is Bank Owned Life Insurance (BOLI) or Corporate Owned Life Insurance (COLI). While BOLI/COLI can provide a variety of benefits, many companies with tight liquidity overlook life insurance as one of their investment… Read more »
The Role Life Insurance Plays in Business Planning
Being in a leadership or ownership role in a business is not an easy task, a lot of time and work goes into the roles necessary to lead the company. You have to have the dedication and passion for what you are trying to accomplish with the business. As a leader, you have also sacrificed… Read more »
Business Succession Planning
The Purpose of Succession Planning As the Senior Leadership teams in the business industry approach retirement, creating and developing the company’s succession plan is critical. Along with creating a succession plan, it is important for key executives to plan for retirement. When retirement planning is ignored and not clearly communicated, even the most thorough succession… Read more »
Using Life Insurance to Supplement Retirement Income
Reasons for Life Insurance When it comes to putting aside funds for a Business Owner’s retirement, the options beyond qualified plans are limited. Owners of pass through entities are taxed on the profits of their business regardless of what they do with the Company’s money. To build a source of retirement income that grows tax-deferred and could… Read more »
Tax Reform Faces an Uphill Challenge
Many Americans are eager to enjoy the across the board tax rate cuts that President Trump promised so frequently during the election. There are numerous Republican law makers that have said their top priority is a large tax cut. House Speaker, Paul Ryan, and Ways and Means Committee Chairman, Kevin Brady, have prepared a detailed… Read more »
Retirement Security Concerns Rise Post-Election
I recently attended The American College of Financial Services Board meeting where there was much discussion on the need for retirement income planning in today’s society. As President Donald Trump begins executing his agenda, investors are expressing a degree of apprehension and have concerns about what might lies ahead and how potential policy changes could impact… Read more »
Succession Planning In A Family Business
Recently, I attended a speech related to business succession planning in family-owned businesses. The speakers included a panel of three majority shareholders of family-owned businesses, one of which was working on its fourth generation of ownership. There were several excellent ideas and insights shared that I would like to share with you below. Here are… Read more »
Nonqualified Deferred Compensation Section 409A Compliance
David Fritz – Managing Partner A Chief Counsel Advice Memorandum of the IRS advises that a pre-vesting plan correction will not “save” a nonqualified deferral plan’s failure to comply with Section 409A of the Internal Revenue Code if benefits vest before the last day of the tax year in which the correction was made. Plan… Read more »