Wealth Creation | Wicker Strategic Wealthcare Group

B.I.G Planning℠ is based on the Three Pillars of WealthCare.

The Three Pillars of Wealthcare℠, the Business Wealth Plan℠, Individual Wealth Plan℠ and Global Tax Plan℠ 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. Planning℠ 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 Plan, Individual Wealth Plan and Global Tax Plan 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!

Business Wealth Plan

What is a Business Wealth Plan?

Let’s start with what a Business Wealth Plan, 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 Plan is much more than either of these or the combination of the two. A Business Wealth Plan 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 Plan 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.

One way we do this is through our Business Value Multiplier plan (BVM). Businesses are valued based primarily on profit/cashflow and a multiple of that profit/cashflow. Our BVM plan targets both sides of that equation. We help maximize profit/cashflow, we also identify the 8 drivers that determine the multiple that is applied to the profit/cashflow to arrive at value.

The first step in valuing the business is calculating the EBITDA. Then we analyse the 8 drivers that determine the multiple applied to the EBITDA of the business. Get a free analysis and base line valuation HERE.

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 Plan is being fully executed and is revised as the business environment or the owner’s situation changes.

The Individual Wealth Plan

The Individual Wealth Plan, is a comprehensive financial plan that takes into account not just the investments in your portfolio but also considers your Business Wealth plan (if you own business interests) and your Global Tax Plan. These three plans are not usually coordinated in the manner in the marketplace today. It incorporates the assets you have invested in the markets through your retirement plan and individual accounts. It also considers risk management issues such as life insurance, disability insurance, liability insurance, etc.

These services are typically provided by different professionals who do not talk to each other and when they do they do not speak the same language.

Global Tax Plan

The Global Tax Plan is focused on coordinating and minimization of all taxes the business owner may face. 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 Plan cannot be maximized without coordination with a Global Tax Plan. Likewise, the value of a business and therefore wealth cannot be maximized without the coordination of the Business Wealth Plan 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.