A Lasting Legacy For You And Your Family

Family Business

Family Business

“To accomplish family wealth continuity, families and their advisers can focus on three beacons of family wealth continuity: healthy family relationships, responsible stewardship of wealth in all its forms, and the ongoing creation of a family legacy.” —Family Wealth Transition Planning; Hartley & Griffith.

Our approach to family wealth management is distinctive as we address the human and social elements of a family’s capital in addition to the financial and technical elements. We have built our team and processes around serving our clients holistically with a particular focus on succession and transition of family business assets, ultimately partnering with our clients in the development of living and lasting legacies that glorify God.

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SUCCESSION PLANING

You've worked hard to build your family business. You want this business to be sustainable now and, when the time comes, you want it to transition well, providing a living and lasting legacy for you and your family. Business succession is much more a journey than an event. Planning and implementation should begin long before the business changes hands, and the process will often continue for a number of years after. Accumulating capital to fund a buyout, preparing successors for ownership roles, or transitioning a founder out of the business can take years to complete. To be successful, careful thought, planning and implementation are required early in the process. Key questions must be asked and important decisions need to be made.

 

Do you have the right strategy in place to effectively integrate the next generation into your business? How will each family member and key employee fit into your succession plan? How do you optimize the financial outcomes for everyone involved? Covenant is here to provide personalized business and life counsel and expert advice to help you answer those key questions and ensure your transition plan is reflected in your overall stewardship plan.

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ADVISORY BOARDS

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An Advisory Board is a group of highly skilled entrepreneurs with real-life business experience who have been where you want to go. They come alongside you, adding knowledge and skills that support you in your journey as a business owner. Their main purpose is to help you and your business succeed.

The truth is, business owners with advisory boards are statistically more successful and are viewed in a more positive light by financial institutions, regulatory agencies and in business relationships. Business owners who have advisory boards believe they make a significant contribution to their success. They also gain new energy for reaching their objectives and fresh perspective on the opportunities before them. Advisory boards promote long-term vision and proactive risk management.

Covenant offers a unique service helping business owners set up effective advisory boards through planning, member recruitment and implementation of best practices. We have an extensive network of qualified candidates who have the knowledge and experience to help you and your business get to the next level. When evaluating candidates, we seek those who are ideally suited to your specific needs and are compatible with the values you want to live out through your business.

If you think an advisory board might be beneficial for you, please contact us for a no obligation consultation.

Family. Wealth. Harmony.®

Covenant Family Wealth Advisors' certified financial advisors and business succession planning experts help guide families through the technical and emotional aspects of managing wealth, estate planning and business succession. Our experienced financial management team uses a Christian perspective that is rarely found in traditional financial planning, and we work closely with you to develop a personal Holistic Stewardship Plan that encompasses financial planning, estate planning, family business transition and philanthropy.

Biblical Perspective