B.I.G PlanningSM is based on the Three Pillars of WealthCare
The Three Pillars of WealthcareSM, the Business Wealth PlanSM, Individual Wealth PlanSM and Global Tax PlanSM when combined and coordinated offer a service package usually only available to the super rich through what is known as a Family Office.
The entry point for participation in a Family Office is typically investable assets of at least $25,000,000.
Through B. I. G. PlanningSM Wicker Strategic Wealthcare Group is bringing the benefits of the Family Office to small to mid-size business owners for the first time.
For the first time, small to mid-size business owners can have their Business Wealth PlanSM, Individual Wealth PlanSM and Global Tax PlanSM fully coordinated. Only by fully coordinating these Three Pillars of Wealthcare can business value and personal wealth truly be maximized, and global taxes minimized.
Business ownership is the greatest tool for the creation of wealth that exists. Likewise, taxation is the greatest deterrent to the creation of wealth that exists, and taxation is only going to get worse!
“Ten years ago, we started with a small two-man operation. With the assistance, guidance and sound fiscal advice of Wicker Strategic Wealthcare Group we have grown into a multi-million dollar business.” Neil A., Business Owner
Business Wealth PlanSM
What is a Business Wealth PlanSM?
Let’s start with what a Business Wealth PlanSM is not. It is not a business plan, a document that describes what a business will do. Nor is it a marketing plan, a document that describes to whom a business will sell its products or services and how they plan to target that market.
A Business Wealth PlanSM is much more than either of these or the combination of the two. A Business Wealth PlanSM addresses two very important questions:
- What do you, the business owners, want this business to do for you?
- How much do you want this business to be worth?
As stated previously “Business ownership is the greatest tool for wealth creation that has ever existed”.
Most people start a business for one of two reasons:
- To create a job for themselves, where they are the boss.
- To create wealth.
Both are perfectly valid reasons.
The Business Wealth PlanSM is focused on the second reason. It is our goal to help you make your business as valuable as it can be and then to help you realize that value. Thus, maximizing your wealth to the greatest extent possible.
The illustration to the right depicts the typical structure for most small to mid-size business owners. The owner is literally the person in the middle. They are the one who deals with the external and internal vendors depicted in this illustration. Ask most business owners how much time they spend dealing with these vendors and they will reply “I spend half of my time dealing with these issues”.
Part of the purpose of a Business Wealth PlanSM is to free the business owner from dealing with these issues daily. Thus, freeing up “half” of their time to be utilized where it is most efficiently and profitably utilized.
“We hired Brooks Wicker and Wicker Strategic Wealthcare Group three years ago and what a difference. We now have a CFO not just an accounting firm where you are just another client. Brooks and Wicker Strategic Wealthcare Group have helped me substantially increase my wealth. I highly recommend Wicker Strategic Wealthcare Group to any business owner who is truly serious about developing multigenerational wealth.” John M., Business Owner
Wicker Strategic Wealthcare changes the structure of the typical small to mid-size business to the illustration on the right.
One way we do this is most of our clients outsource accounting services and finance functions to us. We become the business and personal outsourced CFO of the business owner and usually their executive group. We provide or coordinate all the services previously provided by the internal and external vendors depicted in the previous illustration. This way the owner and their executive group are freed up to concentrate on maximizing the value of the business.
We then meet with the owner (and their executive team if the owner desires) at least monthly, more often if necessary, to ensure that the Business Wealth PlanSM is being fully executed and is revised as the business environment or the owner’s situation changes.
“They make it easy for you.” Dr. Laura W., Dentist
"You guys are the best! Thank you!" Lisa H.
Individual Wealth PlanSM*
The Individual Wealth PlanSM is much as you might expect. At its core is a financial plan much like those offered by reputable advisory firms. It incorporates the assets you have invested in the markets through your retirement plan and individual accounts. It also takes into account risk management issues such as life insurance, disability insurance, liability insurance, etc.
The difference is that the Individual Wealth PlanSM also incorporates and coordinates with both your Business Wealth PlanSM and your Global Tax PlanSM. Nowhere else in the market is this available to the small to mid-size business owner. These services are typically siloed, the providers do not talk to each other and when they do they do not speak the same language.
The accountant is usually very good at putting the right number in the right box on the right form at tax time. But is not very good at tax planning and advice on maximization of the value of your business. Their focus is entirely on the past.
The financial planner/stockbroker/investment advisor is only concerned with the money you have invested in the market and does not even look at your business and individual tax returns. They would most likely not know what they were looking at even if they did. They don’t advise you on taxes or on business value maximization. They are also primarily focused on the past.
The attorneys and bankers are helpful with risk management but poorly equipped to advise on tax minimization and business value maximization.
Our focus is on the now and the future, not the past. We help our clients maximize future value/wealth and minimize current and future global tax liability!
Global Tax Plan SM
The Global Tax PlanSM is focused on coordinating and tax minimization of the business owner globally. This includes business tax minimization, individual tax minimization, estate tax minimization, and family tax minimization across all entities.
It also considers how to pass the wealth and business value along or how to access that wealth/value in the most tax advantageous way.
Most small to mid-size business owners do not receive this service. Most receive tax preparation, not tax planning. Most do not receive coordinated tax preparation where business tax, individual tax, family tax, gift and estate issues are coordinated and planned. This requires coordination of multiple disciplines. Since most of these services are siloed this coordination is not usually available to the small to mid-size business owner.
Because taxation is the greatest deterrent to wealth creation, it is our opinion, an Individual Wealth PlanSM cannot be maximized without coordination with a Global Tax PlanSM. Likewise, the value of a business and therefore wealth cannot be maximized without the coordination with a Global Tax Plans.
It only follows that for the small to mid-size business owner wealth maximization and tax minimization on a global basis, all three of these critical plans must be coordinated.
“They are definitely worth the money” Ken A., Business Owner
“When it comes to financial decisions Brooks is the go to person. Even though we live hours apart Brooks is as close as your phone. He guides you through decision making processes that you can take to the bank. “ Kyle D., Business Owner.
Learn more about our success stories:
Some of our clients
*Financial Planning and investment services are offered by Brooks Wicker through his affiliation with HD Vest.