Daily Archives: November 9, 2015

Add a New Executive Imperative to Your 2016 Corporate Planning: Your Executives’ Futures

There’s something every business executive has in common. They have more to do than hours in the day. They’re working 60-hour work weeks or more with little time for families, hobbies and more. The pace is relentless and exhausting.

In the midst of the chaos, executives are hard pressed to think and act beyond the next deadline, pay period or client deliverable. They’re hurting themselves without even knowing it, especially with ongoing changes in executive and equity compensation laws, tax and risk management, and general economic issues.

As the year comes to a close and companies gather their senior executives to evaluate plans, budgets, personnel and projects, a critical reality must be addressed:

How can we strengthen individual corporate executives to succeed at work while also helping them be better, healthier and happier men and women?

The company can play a role without exorbitantly expensive perks, benefits and compensation schemes. Even the smallest changes – and commitments – can produce the greatest outcomes. Just ask the former chief executive officer of a Dallas energy services firm.

“It had never crossed our minds as a team of executives to focus on what each of us were facing individually and privately,” he said. “All of us worked hard and fast and none of us had a plan to secure our financial futures and retirement.” That’s when the CEO decided that the company could do something for its team that could transform their lives: corporate-driven, corporate-sponsored financial planning services.

Now retired, the CEO reflects on how this one decision – this one corporate benefit – ensured a quality lifestyle beyond the c-suite. “It’s a benefit that gives and gives and gives, and doesn’t require a lot of legwork, administration and cost.”

The approach is simple. A program is tailored to each organization and each individual. It ensures that executives gain clarity, direction and professional advice on a variety of financial issues, such as:

  • Equity compensation strategies such as regulatory issues related to equity compensation
  • Equity incentives and stock options
  • Tax liabilities
  • Asset allocation
  • Retirement and college funding planning and preparation
  • Estate planning and preparation
  • Risk management and insurance-related issues
  • Charitable giving

Costs for the program will vary based on the number of executives participating in the program. At Carter Financial Management, we offer a free cost analysis and review. Our program is called the Corporate Advantage.

Why Consider Corporate-Sponsored Financial Planning?

  • Companies can improve executive recruitment and retention.
  • Companies show their commitment to their executives’ long-term financial health.
  • Companies and executives share a low-risk and affordable benefit, even for small companies and start-ups. Financial advice and recommendations must be objective and in the best interest of the individual and no one else. Advice should derive from a planning partner that is independent and fee based. Personal integrity and a strong trust are paramount.
  • A program partner should incorporate an entire team of CERTIFIED FINANCIAL PLANNERS® and a back-end support team.

Consider turning your 2016 corporate strategy sessions into an executive discussion about long-term goals – personal, individual goals.

Float the idea of company-supported planning. It benefits the company. And the talent that makes it succeed.

This material is being provided for information purposes only and is not a complete description, nor is it a recommendation. Any opinions are those of Carter Financial Management and not necessarily those of Raymond James.