Our client was challenged with navigating the complexities of the sale of a private business and managing newfound wealth to benefit his family and generations to come. He needed a comprehensive plan that covered expenses over his entire lifetime and met the needs of his still growing family.
Leveraging our experience with clients who have sold private companies, True North formulated a comprehensive plan to help him navigate this transition and provide for his family. Actions included:
- Accelerated sales of stock prior to the overall market’s plummet in the fall of 2008
- Focusing on the long-term and prudently deploying capital during the downturn
- Formulating a plan to diversify the client to minimize exposure and provide growth and income to meet future needs
- Working in tandem with the client’s CPA and attorneys to implement appropriate legal and tax strategies to optimize the investment and generational transition strategies
- Serving as a career advisor as multiple firms continue to approach our client to re-engage in running their business
The sale of the business prior to the recession was a difficult time for our client.
True North provided guidance, stability and perspective.
Today, our client has a plan to meet both short and long-term goals. Additionally, he has called upon True North for advice in helping him make professional career choices.