We take our clients through their journey of growing business, increasing shareholder value, making their business more efficient, and ultimately, easily transferable: Hawley MacLean, CEO of MacLean Financial Group, Inc.

“Our planning process prepares business owners financially for the next chapter in their lives.”

In the next two decades, the United States’ financial landscape will undergo a paradigm shift that will impact every American. Baby boomers are expected to transfer a jaw-dropping $30 trillion to younger generations and set off the greatest wealth transfer in history. But this event will be accompanied by significant challenges for the older generation, which will face the difficult decision of whether to sell or transfer their businesses.

There are approximately 12 million small businesses today. Combined with the fact that the success rate of selling is merely 30 percent, it is evident that this will be a retirement-planning hurdle for numerous business owners—many of whom have their net worth tied up in their companies.

MacLean Financial Group, Inc. (MFG) is setting the stage for business owners to efficiently plan this succession, control their exit, and maximize their business value. The company strives to help business owners take up the baton to direct their financial life and devise strategies to enjoy the financial freedom they deserve. Whether it is a small business owner, an investor preparing to retire, or a retiree, MFG’s professional advisors help them identify their most important objectives and devise strategies to accomplish them.

MFG is headquartered in Reno, NV.

The Silicon Review reached out to Hawley MacLean, Founder, President, and CEO of MFG, and Dan Springer, Director Wealth Planning Team, for their comments. Here’s what they had to say.

“There are only three things you can do with business ownership: 1) sell it, 2) liquidate it, or 3) give it away. A forced sale or liquidation is in no one’s best interest,” says Hawley MacLean. “We take our clients through their journey of growing business, increasing shareholder value, making their business more efficient, and ultimately, easily transferable.”

A Comprehensive Suite of Client-Centric Services

From investment management to retirement guidance, MFG’s advisors cover the gamut and help their clients integrate their financial objectives into one coherent plan.

The MFG team offers their clients business financial planning, which seeks to ensure their continued success whether in transitioning ownership of their company, retaining and rewarding their employees, or improving their corporate benefits. MFG’s advisors enable business owners to analyze financial planning gaps, devise strategies to protect their enterprise against the loss of key position holders, and strengthen employee loyalty via incentive-based compensation plans and retirement plans.

The company’s, risk management services seek to ensure the longevity of the clients’ families and its advisors help business owners protect their most critical assets and future-proof their operations against unforeseen events. These advisors combine investment management with their unique insurance knowledge and provide personalized life, long-term care, disability, business overhead expenses, retirement insurance, and more.

Among the myriad assets a business may own, human resources, is the most important one, by far.

Setting up a retention and retirement incentive program is a smart way for businesses to provide for their employees while augmenting operational outcomes. To achieve this, MFG enables its clients to recruit, reward, and retain key employees, and boost their morale. From veteran leadership down to new recruits, MFG’s advisors help businesses structure tailored retirement and retention strategies for their employees.

Whether a business owner is at the pinnacle of success, a couple of years away from retirement, or already evaluating retirement and purchase offers, MFG’s advisors prepare them for the future. MFG’s Certified Exit Planning Advisors (CEPA) have years of experience in the wealth transition domain and suggest strategies and policies that generate valuable business outcomes.

“Our planning process prepares business owners financially for the next chapter in their lives,” adds MacLean.

Wealth transfer goes beyond the mere transfer of money—it’s the bestowal of essential and lasting values and beliefs to the next generation. MacLean Financial Group’s approach sustains a business owner’s legacy and preserves its foundational principles. The company incorporates its fiduciary responsibility into its estate and succession planning services. It promotes a business’s continuous success, generation after generation, and enables business owners to accumulate assets required to support their desired post-retirement lifestyle.

Financial Stewardship for Uncertain Scenarios

Small and medium-sized businesses (SMEs) are often more vulnerable in uncertain times. An effective strategy for these businesses is to plan. To assist communities, MFG offers a free financial action checklist to help business owners move forward when challenged.

With these client-centric services, MFG has partnered with numerous SMEs and helped them navigate emerging industry challenges. Since many are family-owned, there is an auxiliary degree of complexity associated with designing a transition plan around the families.

“We build a contingency plan and educate business owners on where their business value lies and how dependent the business is on them,” says Dan Springer, Director of the Wealth Planning Team at MFG. “It’s only then that we build a transition plan and identify the most viable transition for them.”

These services look to improve the financial health of an organization and eliminate financial bottlenecks, giving business owners the confidence and clarity needed to successfully run their operations. MFG also offers a master planning program that aims at optimizing business processes.

In the master planning program, MFG’s experts educate business owners about any shortcomings in their financial planning, provide them with ways to improve and organize their strategies and optimize them per their financial goals. Your personal financial planning goals can be a guide to your business decisions. By taking an initial focus on this personal planning, our team can get an initial glimpse into how your biggest financial asset, your business, can help you get there. Allowing this concept to guide our results-based curriculum brings the master planning program full circle.

The experts support clients throughout their entire process and assist them in whatever way possible. The program is customized according to client requirements during the first year of interaction. The following sample plan curriculum is used as a template to begin customization.

Master Planning Concept #1 – Building the Team: Do you have a team that’s committed to your success? From the military and sports to the board room, the team can be the difference between success and failure. A well-coordinated professional team with good communication can provide the clarity and support necessitated by the transition planning process. You don’t have to be the one to know all the right questions to ask and to whom they should be asked. The MFG advisors are the quarterbacks that will coach you on the right “play” to be called at the right time.

Master Planning Concept #2 – The Personal Financial Plan: After you have your team rallying around you, your financial plan takes shape and you will discover what your business should be doing for you. A well-defined personal financial plan is a key guide to your playbook and is a deep dive into the who, what, when, where, and why surrounding your personal and family plans and can drive your future business decisions. As likely your largest financial asset, your business is the tool often used to successfully transition you into your next chapter in life. 

Master Planning Concept #3 – Contingency and Continuity Planning: Do you ever ask yourself…what if? Disability, death, divorce, disruption, how will my business continue “if”? This is one of the key areas most commonly underdeveloped or missing when we talk to business owners. Talking about the logistical details surrounding an unexpected exit of the owner can be stressful and time-consuming. After identifying your biggest risks, our advisors guide you through every aspect to develop your specific risk management plans. From access to key information to who will communicate events to your employees, the inclusion of a risk management plan should be a vital piece of your transition process. 

Master Planning Concept #4 – Value Benchmarking: As a business owner, you are often thinking about your business but may struggle to find the time to work on your business because you are too often working in your business. If you can’t measure it, you can’t manage it! Assessing internal and external metrics while forecasting your business trends is key to managing them. Getting these thoughts out of your head and into the planning process is the essence of Master Planning Concept #4.

Master Planning Concept #5 – Value Acceleration: Where does value exist in a business? What does your ideal buyer want to buy? A focus on income and value!. The value of intangible assets in today’s competitive business environment and how this can be a key aspect in leveraging a competitive and healthy environment. Master Planning is simply  good business strategy.

Master Planning Concept #6 – Transition Strategy: Choosing the right business strategy to appeal to your ideal buyer and even a runner-up is another key to a successful transition. How long do you want to work? Do you have the passion and drive you once had? Have you lost focus and feel lost? What is your 5-Year vision… 3-year plan…1-year goals? Am I on track? Decisions you now make every day are affecting your transition plan. Concept #6 includes an introduction to your strategic business coach.

Master Planning Concept #7 – Health & Retirement:

All the planning in the world isn’t worth a dime if you don’t have your health or are not around to enjoy it. Guest speakers and local health experts provide insights into well-rounded family health and wellness. Discover the health effects of running a business and how these can impact your long-term family plans.

Master Planning Concept #8 – Quarterly Sprints: Inspired by your vision, in-depth coaching and guidance into a specific and effective action plan developed and aligned to meet your 1-year goals and beyond. Check-ins, gentle guidance and continued coaching inspire you to stay on track toward your first quarterly deadline. Feel the far-reaching impact of completing your first 90-day sprint. Success creates confidence! When a successful quarter is in your rearview mirror, it can give you the momentum to carry you forward into your ideal life plan.

As the business grows and needs change, MFG modifies the program and ensures that the client makes the best of it. Deciding to stay the course or re-focus is a quarterly occurrence strategically designed to keep the most important decisions and the ultimate financial vision top of mind. With a sense of belonging to a process and a team, you will never have to make decisions alone.  

“Business outcomes are not always the ultimate goal. What matters is that the client knows that they have a team of professionals on their side who can coach them as they go through the transition planning,” says Springer.

The cornerstone of MFG’s operations is its holistic approach to engaging with clients and adhering to a process. The experts follow the plan first methodology that is designed to enhance clients’ operational efficiency and augments business outcomes. MFG’s team spends a great deal of time with their clients to comprehensively understand their needs and encourage them to start by envisioning their lifestyle goals. The experts then analyze any existing plans to identify deficits. As the team gains a deeper understanding of the client’s operations, they provide appropriate recommendations that support short- and long-term success. These suggested plans are collaborative, easy to follow, and clearly define the actions and support needed to navigate dynamic financial narratives.

There are only four types of buyers for a small to medium size business.

Family: This usually results in the lowest valuation for the seller, but keeps the business in the family.

Employee purchase: This is usually the next lowest valuation, but sometimes the least disruptive to clients and employees, but the seller usually retains a majority of the risk for several years after the sale.

Value buyer: This is usually closest to a fair market value of the business, usually a third party. There are two subcategories of a value buyer, 1) the small or individual value buyer. They may need the seller to carry some or all the financing. Thus, exposing the seller to risk after the sale for some time into the future, and 2) the large or corporate value buyer. They have the cash or financing to complete the entire purchase. This is usually the most desired type of sale.

The Strategic Buyer: This sale is usually done at a premium above fair market value. The purchaser wants to acquire the business for a strategic reason. Maybe enter a new market or region, add a new division, or control competition. They are less concerned about the financials and price but want the business for a strategic reason. 

“Knowing what type of buyers will work for your business transition can help maximize shareholder value,” says MacLean.

For MacLean Financial Group, fostering a trust-based relationship with clients is the linchpin to its success. The MFG team abides by its popular motto, ‘FCO–First Class Only,’ offering the most befitting services, building trust, and working with their clients over their lifetime. Hawley MacLean’s real-life experience in owning and operating many successful businesses and growing them to over a billion dollars in net worth  reassures clients of the values his company brings to the table.

Looking ahead, MacLean Financial Group aims to continue to offer its services and help its clients preserve their most valuable assets. With its team of advisors on board, MFG remains at the forefront of this transition and facilitates the most significant wealth transfer in the history of America.

About | Hawley MacLean

Hawley MacLean is an industry expert who founded MFG in 1990 to help businesses grow and become more profitable by paying lower taxes, retaining key employees, addressing compensation, protecting assets, and planning their succession. Over the last three decades, MacLean put together a team of passionate professionals and accomplished entrepreneurs from diverse backgrounds—legal, tax, investment, insurance, finance, accounts, HR, and more—who holistically address their clients’ challenges.

“Business outcomes are not necessarily always the ultimate goal. What matters is having the client know that they have people on their side who can coach them as they go through the transition planning.”

Disclosure:

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Gateway Financial Advisors, Inc., and Cambridge Investment Research, Inc. are not affiliated.