Business Owners

Here at Cumby, Spencer & Associates, we offer a wide array of services to help business owners address their financial needs at every stage of the business life cycle. Taking into account their personal values and financial goals, we create and execute customized plans to help entrepreneurs meet their objectives. Some of our key services are detailed below.

Executive Benefits

The success of most businesses is tied into the talent, passion and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Employee Benefits

Selecting the right benefit package is becoming increasingly important in retaining the best employees, and keeping them productive. We strive to know and understand your complete financial situation and provide you with the highest quality of information, products, and services to help you reach your goals. Our clients rest assured knowing that we always have their interests at heart.

Focusing on your objectives, budget and culture, we work with you to custom design your group benefits, qualified retirement plans, and voluntary benefits plans to address your employees’ unique needs. Our strong relationships with insurers enable us to effectively represent your employees to ensure claims and issues are resolved promptly.

Succession Planning

Succession planning allows owners to leave their business on their own timeframe while preparing their company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business.

Key Person Insurance

Key person life insurance offers a death benefit that indemnifies an employer for the loss of one of its most important assets - the key person. This can help assure continuity of the business for employees, customers and creditors, and protects against losses in sales, momentum, and credit. It can also be used to recruit and develop a replacement for the employee.

Buy-Sell Agreements

A buy–sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to ensure that the arrangement is properly funded so that there will be money when the event is triggered.

Deferred Compensation

Deferred compensation is a written agreement between an employer and an employee where the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed back to them at a pre-determined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees.

Please take a moment to review the resources that we've compiled for you below and contact us with any questions or if you're ready to start planning for your future.

Read & Learn More

Series LLC
Whitepaper

Series LLC

Cross Purchase Buy Sell Agreement Whitepaper

Cross Purchase Buy Sell Agreement

Business Transfer Issues Whitepaper

Business Transfer Issues

10 Reasons to Roll Over Assets Whitepaper

10 Reasons to Roll Over Assets

Watch & Learn More

Business Owners

Business owners are a special breed with unique financial needs.

Entrepreneurs

Entrepreneurs generate over 65% of new jobs. While they work hard for us, they need an advisor team working for them.

Executives

Financial planning can help with employee benefits, stock option planning and executive compensation.

Protecting Your Business

How do businesses prepare for the sudden death of an owner and its impact on customers, employees, lenders and suppliers?

Retaining Management

How do privately held companies motivate and incentivize key employees to stay long-term and contribute to the owners' overall success?

Business Asset Strategies

How do business owners prepare to unlock the value of their business to give themselves the greatest chance of realizing its full value?