“No enterprise can exist for itself alone. It ministers to some great need, it performs some great service, not for itself, but for others.”

– Calvin Coolidge

The Elysien Private Wealth Family Business Center

The Elysien Private Wealth Family Business Center was created in order to assist family business owners and private corporations excel and have an independent advocate for all of their business resources. We advise family businesses, public and private corporations on ways to balance the well-being of the business, the family and the individual, as they conquer the challenges and embrace the opportunities which inevitably arise while growing the business. We also assist business owners with the difficult task of preparing the bussinness for succession planning – whether the enterprise is staying in the family or being sold to other enterprises.

We help to foster healthy family businesses — through innovative tools, expert advice and an honest approach to business financial planning.

After a family business has been created and experienced growth and success, the next logical step for the owner is to consider how they will handle transfer of ownership. When a business owner decides that it is time to retire, they face four possible alternatives.

  • Sell the business to an external buyer
  • Sell the business to a family member
  • Sell the business to current employees
  • Close the business

According to the family firm institute, more than 4 out of 5 family businesses in the United States are still controlled by their founding members. Furthermore, the coming realities of business succession will take many business owners and their families by surprise if they have not taken the time, or made the effort to establish a proper succession plan.

Employee Benefits

We assist businesses with setting up or properly maintaining their benefit and retirement plans. Many business owners do not understand or have the expertise to properly maintain the full fiduciary responsibility that maintaining a retirement plan entails. Also, many business owners do not understand that they can be held personally liable for any claims against the retirement plan. At Elysien Private Wealth we take full fiduciary responsibility of the corporate retirement plan and work with other professional organizations such as payroll companies, third party administrators and plan sponsors in order to insure that your responsibility as a fiduciary to the plan is limited in scope and mitigated as much as possible.

How We Can Help

Ownership succession planning requires a competent team of trusted professionals. Accountants, attorneys, valuation advisors and wealth managers are all needed in order to ensure that the task of passing on your families legacy is handled properly.

Elysien Private Wealth is equipped to assist you in the difficulties family business owners face in transitioning ownership, incoporating and maintaing benefits plans, or selling the family businesses. We will assist you in the wealth management needs of the benefits programs, business transition, insurance implications, as well as coordinate our services with your other trusted advisors in order to make sure you are properly prepared for these life changing experiences.