Aspiring, new, and established business owners encounter a unique set of financial planning concerns that go beyond personal planning.
- RETIREMENT PLAN ADVISING -
Business owners and employees who are tasked with establishing a retirement plan for their company face a myriad of options and legal ramifications. Whether you are in charge of your company's current retirement plan or want to start a new one, Zora Financial is here to help. We can advise on an appropriate plan design as well as serve as an ongoing advisor to the plan.
- Due diligence on existing, potential, and selected investment managers and/or service providers
- Retirement plan asset‐class menu recommendations
- Investment policy statement review, development or implementation
- Plan trustee education
- Plan design recommendations
- Plan mid‐year and/or year‐end trustee review
- Investment monitoring reports
- Substitution recommendations
- Watch list recommendations
- Participant educational workshops
After the plan consultation, Zora Financial can conduct ongoing assessments of the chosen providers. We may recommend replacement of some or all of plan investments, record-keeper, third‐party administrator (TPA), and/or custodian.
Recommendations depend on a combination of plan goals and objectives, updated due diligence information, as well as cost or other service considerations.
-Business Planning Considerations-
- How should entrepreneurs balance public investing, taxes and their company?
- When does investing in yourself/your companies become inappropriate?
- How can I balance my lifestyle with work and the trade-offs involved?
- How will healthcare work?
- Health Insurance - High deductible plan or not?
- Dental and vision coverage?
- How should Health Reimbursement Agreements (HRA), Flexible Spending Accounts (FSA) and Health Savings Accounts (HSA) be implemented?
- What about Long-Term Disability insurance?
- Is a cross purchase agreement needed, and how should I fund it?
- What are appropriate business structures and some of the differences?
- What options do I have for retirement savings and investing?
- Should I establish a 401(k)?
- What about SIMPLE and SEP IRAs?
- I want to open a retirement plan have no idea where to start.
- See above
- I have been working for someone else for long enough; I think I am ready to open my own company.
- Is there enough savings to reach this goal and keep my other plans intact?
- What will happen with my previous employer's 401(k)?
- Should I take my pension as a lump-sum?
- Will I have enough business to stay open?
- What can I expect?
- What are other business owners doing?
- Could I be saving on my taxes?
- Can I make my spouse or children employees and why?
- I am tired of working for my money and want it to start working for me.
Interested in having an objective financial professional evaluate your company's current plan?