128 Rosemore Lane,
Fighting the adage, “shirtsleeves to shirtsleeves in three generations”.
Stan* started a manufacturing business from the ground up that is now a successful multi-million-dollar company.
Later in the company’s timeline, Stan’s two sons were mentored within the company and eventually became competent enough to approach Stan about taking over ownership.
Financial Solutions Group acted as a guiding resource for a positive and successful transition—because the “sale” of the business was to be a large part of Stan’s retirement income, as well as the ongoing payments into his retirement that relied on the profitability of the company. In closely held businesses, the financial risk and burden is typically shouldered by the first generation selling to the next. Using decision-making tools and posing the right questions to the sons—and their SPOUSES—revealed some veiled Achilles heels in the arrangement. Removing the veil with the help of Financial Solutions Group, the family was able to have frank conversations and align their efforts in life and business decisions.
We are happy to report that for this family enterprise, the brothers are working well together and growing the company beyond what Stan could have ever imagined, the boys’ personal lives are reported to be happy, and Stan’s interests are protected while he is busy enjoying his life. Everyone is optimistic about the future.