Episode 25

Published on:

31st Jan 2023

Advance Your Wealth - Can Your Company Survive if You're Unable to Run it?

If you’re a business owner, do you have key person insurance or a buy-sell agreement in place? If so, when was the last time you updated it? If your solutions are more than a few years old, you could be setting yourself up for financial disaster.

On the latest episode of Advance Your Wealth, we’re examining why these questions are so critical to be asking yourself and what entrepreneurs can do about it right now!

Tune in and discover some steps you can be taking to avoid the major financial hardship that accompanies these types of issues.


0:06 - Introduction and overview on the topic of today's show

1:14 - Business owners are analyzing today's landscape to avoid future issues

2:40 - Unexpected events can jeopardize the success of a business

3:30 - Most business owners have a solution in place, but it's outdated

4:25 - The advantages associated with a buy-sell agreement or a key person insurance policy

6:03 - 40% of business owners don't have key person insurance in place

7:16 - The appeal of a buy-sell agreement

9:28 - The value of buy-sell agreements is widely recognized

10:42 - How big of a deal is an outdated agreement?

12:38 - Advice for business owners to stay on top of these solutions

14:45 - How to get in touch with Homer and his team

15:30 - Closing remarks

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About the Podcast

Advance Your Wealth With Homer Smith
Financial advice to generate the results you expect and desire
Advance Your Wealth With Homer Smith provides you and your business with the financial advice needed to make calculated decisions moving forward. With over 18 years of industry experience, Homer Smith, Private Wealth Advisor with Konvergent Wealth Partners, understands the importance of a commitment to customer service and strives to help clients pursue their financial goals towards aspirations and retirement.

Each episode we'll take a deep dive into a different complex topic surrounding personal and business wealth management. So sit back, relax, and enjoy enlightening conversations that highlight an array of financial questions and topics.

Investment advice offered through Integrated Financial Partners, doing business as konvergent wealth partners, a registered investment advisor.