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Your Business Wealth Goals

Goals are essential to any business plan. So is a partner who can work side by side with you to help you move toward your goals. Whether you’re looking to grow your business, preserve the wealth you’ve built or protect your employees, NBT Wealth Management makes your goals ours. Explore topics that may be important to your business in the following section. Start the conversation now by requesting a meeting using the interactive form below. We want to learn more about what counts to you!

If you are an individual instead of a business, visit our Personal Strategies section to learn how we can serve you.

 

What Are Your Goals?

 

Popular Questions


For those owners who have decided to sell or transfer a business, having an accurate valuation is essential to ensuring that money is not left on the table. We find that many business owners do have a price in mind for their business, but that can often go by the wayside when confronted by a challenge from the IRS or other sources. For this reason having an accurate business valuation is necessary. While a full valuation from a Business Appraiser may cost several thousand dollars, we can give you a written idea of current valuation at no charge. Click here to find out more.

Most retirement plans are required by the Department of Labor to cover all eligible employees (ERISA). There are times, however, when an employer may wish to carve out a group of select employees to offer additional retirement benefits. With our experience in non-qualified deferred compensation arrangements, we can create plans for every size and budget; and, depending on your goals, we can help you create plans that are tax-deductible, IRS/DOL compliant, with optional golden handcuff provisions and possibly cost recovery. To find out more, please click here.

Business consultants know that one of the best ways to acquire and keep a motivated employment force is by providing a valuable and meaningful Employee Benefits Program. For over 100 years the advisors in our NBT-Mang Insurance Agency Benefits division have provided meaningful solutions to this very question. No employer is too large or too small for our team to come up with the ideal benefit mix for your business and budget. For more information, please click here to be referred to NBT-Mang Insurance Agency’s website. NBT-Mang Insurance Agency is a wholly-owned subsidiary of our parent company, NBT Bancorp Inc.

Because we are insurance professionals, we provide a no-cost, no-obligation Insurance Policy Review for anyone who requests it, no matter what carrier you have. Why do a review? Well first of all, because things have a way of changing over time. What if your income has changed, and you need more coverage? Or what if you lost weight, or you quit smoking? This might be the time to let your carrier know so you can get a discount. On the other hand what if your family status has changed and you don't have the correct beneficiaries anymore? For these reasons and many more we highly recommend a periodic policy review. Want to get the ball rolling on a personalized policy review for all the policies you own? Request a meeting below to get started.

If you have the ability to continue your normal business operations during a period of disability this can provide stability in your relationships with customers, creditors, and employees. The problem is that too few businesses have set aside the cash reserves to cover all the related overhead expenses of a business when the owner is not able to be in the business on an ongoing basis. As business insurance professionals we provide a unique form of insurance to business owners which covers this risk: Business Overhead Expense Insurance (BOE). A BOE policy can protect your business in the event you become disabled, and it provides monthly income to cover such things as rent or mortgage payments, loans and interest, utilities, phone, maintenance, accounting and legal services, professional dues, auto expenses, employee benefits, employee salaries, depreciation, insurance premiums, taxes, even a replacement for yourself! To learn more about how we can help customize a BOE policy to your unique situation, click here.

When a key employee suddenly dies, it can leave a business vulnerable if that person was largely responsible for bringing in revenue, maintaining key client relationships, or was responsible for specialized day-to-day operations of the business. While employee benefit programs help employers by reducing turnover and increasing morale and overall satisfaction, a Key Employee analysis is designed to help an employer more directly by providing capital infusion at a time when needed most. Through life insurance, tax-free insurance dollars can come into a business to provide support in a time of upheaval and turmoil. It may take months or years to recruit and train a replacement for a key employee. Insurance takes the bumps out of the financial road during this process. We are experienced in providing economical Key Employee insurance plans. To see how this can benefit your business, click here for more information.

One of our most common questions from business owners is how best to protect the value they have built up in their business from an uncertain future. In cases where you have one or more business partners, we can work with you to help structure an optimal outcome in the event that one or more owners dies or becomes disabled prior to retirement and business interest transfer. Our team can work alongside your other advisors to help you create what is essentially a “business will,” a legally binding agreement known as an insured buy-sell agreement that will govern the situation in the event a co-owner dies or is forced to leave the business. To find out more, click here.

While most tax deductible employee benefit programs are required by the Department of Labor to cover all eligible employees (ERISA), there may be times when you would like to offer a specialized benefit to your top people. Whether your reason is to provide an incentive for motivation or a reward for performance, we have access to many plans and structures that will allow you to carve-out select employees for inclusion in your strategy. We create customized solutions for every budget, and we have experience with insurance carve-out programs as well as executive non-qualified deferred compensation programs. To see how these strategies can benefit your business, click here.

Many of our clients who look for estate planning assistance from us are family business owners whose chief concern is how best to pass on the business to the next generation. When ownership is transferred improperly or without adequate planning, taxes often erode the wealth and value that have taken a lifetime to build. Whether you intend to pass your business interest on as a gift to family members, a key employee, or via an outright sale to a third party, we can assist you with the planning aspects of this important transaction. One of the first places to start is to determine the current value of your business. While a full valuation from a Business Appraiser may cost several thousand dollars, we can give you a written idea of current valuation at no charge. Click here to find out more.

For those owners who have decided to sell or transfer a business, having an accurate valuation is essential to ensuring that money is not left on the table. We find that many business owners do have a price in mind for their business, but that can often go by the wayside when confronted by a challenge from the IRS or other sources. For this reason having an accurate business valuation is necessary. While a full valuation from a Business Appraiser may cost several thousand dollars, we can give you a written idea of current valuation at no charge. Click here to find out more.

Most retirement plans are required by the Department of Labor to cover all eligible employees (ERISA). There are times, however, when an employer may wish to carve out a group of select employees to offer additional retirement benefits. With our experience in non-qualified deferred compensation arrangements, we can create plans for every size and budget; and, depending on your goals, we can help you create plans that are tax-deductible, IRS/DOL compliant, with optional golden handcuff provisions and possibly cost recovery. To find out more, please click here.

Business consultants know that one of the best ways to acquire and keep a motivated employment force is by providing a valuable and meaningful Employee Benefits Program. For over 100 years the advisors in our NBT-Mang Insurance Agency Benefits division have provided meaningful solutions to this very question. No employer is too large or too small for our team to come up with the ideal benefit mix for your business and budget. For more information, please click here to be referred to NBT-Mang Insurance Agency’s website. NBT-Mang Insurance Agency is a wholly-owned subsidiary of our parent company, NBT Bancorp Inc.

Because we are experienced insurance professionals, we provide a no-cost, no-obligation Insurance Policy Review for anyone who requests it, no matter what carrier you have. Why do a review? Well first of all, because things have a way of changing over time. What if your income has changed, and you need more coverage? Or what if you lost weight, or you quit smoking? This might be the time to let your carrier know so you can get a discount. On the other hand what if your family status has changed and you don't have the correct beneficiaries anymore? For these reasons and many more we highly recommend a periodic policy review. Want to get the ball rolling on a personalized policy review for all the policies you own? Request a meeting below to get started.

If you have the ability to continue your normal business operations during a period of disability this can provide stability in your relationships with customers, creditors, and employees. The problem is that too few businesses have set aside the cash reserves to cover all the related overhead expenses of a business when the owner is not able to be in the business on an ongoing basis. As business insurance professionals we provide a unique form of insurance to business owners which covers this risk: Business Overhead Expense Insurance (BOE). A BOE policy can protect your business in the event you become disabled, and it provides monthly income to cover such things as rent or mortgage payments, loans and interest, utilities, phone, maintenance, accounting and legal services, professional dues, auto expenses, employee benefits, employee salaries, depreciation, insurance premiums, taxes, even a replacement for yourself! To learn more about how we can help customize a BOE policy to your unique situation, click here.

When a key employee suddenly dies, it can leave a business vulnerable if that person was largely responsible for bringing in revenue, maintaining key client relationships, or was responsible for specialized day-to-day operations of the business. While employee benefit programs help employers by reducing turnover and increasing morale and overall satisfaction, a Key Employee analysis is designed to help an employer more directly by providing capital infusion at a time when needed most. Through life insurance, tax-free insurance dollars can come into a business to provide support in a time of upheaval and turmoil. It may take months or years to recruit and train a replacement for a key employee. Insurance takes the bumps out of the financial road during this process. We are experienced in providing economical Key Employee insurance plans. To see how this can benefit your business, click here for more information.

One of our most common questions from business owners is how best to protect the value they have built up in their business from an uncertain future. In cases where you have one or more business partners, we can work with you to help structure an optimal outcome in the event that one or more owners dies or becomes disabled prior to retirement and business interest transfer. Our team can work alongside your other advisors to help you create what is essentially a “business will,” a legally binding agreement known as an insured buy-sell agreement that will govern the situation in the event a co-owner dies or is forced to leave the business. To find out more, click here.

While most tax deductible employee benefit programs are required by the Department of Labor to cover all eligible employees (ERISA), there may be times when you would like to offer a specialized benefit to your top people. Whether your reason is to provide an incentive for motivation or a reward for performance, we have access to many plans and structures that will allow you to carve-out select employees for inclusion in your strategy. We create customized solutions for every budget, and we have experience with insurance carve-out programs as well as executive non-qualified compensation programs. To see how these strategies can benefit your business, click here.

Many of our clients who look for estate planning assistance from us are family business owners whose chief concern is how best to pass on the business to the next generation. When ownership is transferred improperly or without adequate planning, taxes often erode the wealth and value that have taken a lifetime to build. Whether you intend to pass your business interest on as a gift to family members, a key employee, or via an outright sale to a third party, we can assist you with the planning aspects of this important transaction. One of the first places to start is to determine the current value of your business. While a full valuation from a Business Appraiser may cost several thousand dollars, we can give you a written idea of current valuation at no charge. Click here to find out more.

Comparing a plan to the broader market is a viable means for demonstrating one’s willingness to address fiduciary responsibilities, and also shows plan participants that you are aware of their best interests, and are willing to periodically review comparative performance and costs information. Learn more.

We have the ability to provide a “one stop shopping” experience that encompasses trustee, custodial, daily recordkeeping, participant education and support, and full compliance services for plans regardless of size. You can rest comfortably knowing that you have one point of contact for all your retirement plan needs. Request a meeting with one of our advisors below.

Plan construction must always incorporate the client’s expressed goals. That’s why we use this knowledge as the cornerstone of any plan’s design. However, annual plan design review and ongoing recommendations are crucial to a plan continuing to meet its corporate goals. As a basic tenet of our client relationships, we provide comprehensive annual plan document reviews, as well as periodic recommendations through the plan year as circumstances dictate. Take the first step toward your plan goals. Request a meeting below to speak with one of our experienced advisors.

With virtually all participant litigation centering on investment options and the selection process associated with them, it is imperative that plan sponsors have a strategy in place that is comprehensive, prudent and well documented. As part of this strategy, sponsors should maintain an investment policy statement, quarterly investment reports and annual investment meeting minutes at all times. By virtue of our discretionary trustee capacity, we mitigate the sponsor’s investment exposure, produce and maintain each of the noted items and provide our clients peace of mind. Begin the conversation by requesting a meeting below to discuss goals for your retirement plan.

Addressing annual discrimination testing is a concern for retirement plans that are attempting to maximize personal deferrals. Potential solutions range from plan design modification to enhanced participant education and participation. We have extensive experience in successfully handling this concern for plans of all sizes, and address this issue immediately in all new client relationships. Learn about how we can provide guidance for your situation. Request a meeting with one of our advisors by submitting your contact information below.

National research confirms that savings rates and ongoing education are the MOST important components in assuring that participants experience successful retirement outcomes. We are pleased to address this realization with a unique combination of educational tools that provide consistent, comprehensive and accountable participant communication. Our array of technological and personal support allows for both groups and individuals to receive on site, on demand, and on time knowledge and understanding of their retirement plan. Request a meeting below to learn more.

Yes, when acting as trustee, you are personally responsible and liable for the investment due diligence and operational requirements of the plan. Outside corporate trustee services can mitigate this exposure, and we are pleased to offer a variety of these services for your consideration. Learn more.

A directed trustee may reduce the risk and exposure attributable to the investment due diligence responsibilities and ongoing operational requirements of the plan, but the use of a discretionary trustee shifts the responsibility for investment selection, monitoring and deselection to the corporate trustee, and operational management can be shifted as well. Speak to one of our advisors about trustee service options for your business. Simply request a meeting below.

Comparing a plan to the broader market is a viable means for demonstrating one’s willingness to address fiduciary responsibilities, and also shows plan participants that you are aware of their best interests, and are willing to periodically review comparative performance and costs information. Learn more.

We have the ability to provide a “one stop shopping” experience that encompasses trustee, custodial, daily recordkeeping, participant education and support, and full compliance services for plans regardless of size. You can rest comfortably knowing that you have one point of contact for all your retirement plan needs. Request a meeting with one of our advisors below.

Plan construction must always incorporate the client’s expressed goals. That’s why we use this knowledge as the cornerstone of any plan’s design. However, annual plan design review and ongoing recommendations are crucial to a plan continuing to meet its corporate goals. As a basic tenet of our client relationships, we provide comprehensive annual plan document reviews, as well as periodic recommendations through the plan year as circumstances dictate. Take the first step toward your plan goals. Request a meeting below to speak with one of our experienced advisors.

With virtually all participant litigation centering on investment options and the selection process associated with them, it is imperative that plan sponsors have a strategy in place that is comprehensive, prudent and well documented. As part of this strategy, sponsors should maintain an investment policy statement, quarterly investment reports and annual investment meeting minutes at all times. By virtue of our discretionary trustee capacity, we mitigate the sponsor’s investment exposure, produce and maintain each of the noted items and provide our clients peace of mind. Begin the conversation by requesting a meeting below to discuss goals for your retirement plan.

Addressing annual discrimination testing is a concern for retirement plans that are attempting to maximize personal deferrals. Potential solutions range from plan design modification to enhanced participant education and participation. We have extensive experience in successfully handling this concern for plans of all sizes, and address this issue immediately in all new client relationships. Learn about how we can provide guidance for your situation. Request a meeting with one of our advisors by submitting your contact information below.

National research confirms that savings rates and ongoing education are the MOST important components in assuring that participants experience successful retirement outcomes. We are pleased to address this realization with a unique combination of educational tools that provide consistent, comprehensive and accountable participant communication. Our array of technological and personal support allows for both groups and individuals to receive on site, on demand, and on time knowledge and understanding of their retirement plan. Request a meeting below to learn more.

Yes, when acting as trustee, you are personally responsible and liable for the investment due diligence and operational requirements of the plan. Outside corporate trustee services can mitigate this exposure, and we are pleased to offer a variety of these services for your consideration. Learn more.

A directed trustee may reduce the risk and exposure attributable to the investment due diligence responsibilities and ongoing operational requirements of the plan, but the use of a discretionary trustee shifts the responsibility for investment selection, monitoring and deselection to the corporate trustee, and operational management can be shifted as well. Speak to one of our advisors about trustee service options for your business. Simply request a meeting below.

    REQUEST A MEETING

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