The new sales approach allows advisers to work directly with a team of experts, including attorneys and CPAs, who focus on business customers. Advisers can offer business owners free, informal business valuations and a review of buy-sell agreements to start the planning process or identify if plans need to be readjusted. This analysis is often the starting point for an in-depth discussion with the client’s tax and legal advisers, The Principal said in a press release.
The program’s new Web site gives advisers easy access to a number of tools and resources as they address exit planning and business succession needs, including:
- Free planning tools like informal business valuation and buy-sell review;
- Sales ideas, marketing tools, education materials and consultative services; and
- Client profiles and market opportunities.
According to Steve Parrish, national advanced solutions consultant for the Principal Financial Group, the idea stemmed from the realization that there is often a disparity between what business owners think their companies are worth and the reality of the current market. “Our team of experts runs the numbers so advisers give owners a range of values representing the potential worth of their businesses based on five financial methodologies,” Parrish said in the announcement.
More information can be found at www.principal.com/exitplanning.