Overview
- Showcases a theoretical case study of an executive and entrepreneur and walks through the key pillars of an effective, targeted financial plan
- Provides a guide on building an effective financial plan for each circumstance and situation
- Covers the most up-to-date investment planning, tax planning, estate planning, asset allocation, and risk management based on the latest regulatory and tax changes
- Includes significant content and insights for the entrepreneur who is in the pre-liquidity phase of a transaction
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Table of contents (15 chapters)
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Front Matter
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Back Matter
Keywords
- financial planning
- CFP
- estate planning
- investment planning
- tax planning
- risk management
- philanthropic planning
- bonds
- interest rates
- cash flow
- cash flow analysis
- tools for financial planners
- asset allocation
- executive employment
- insurance planning
- goals-based financial planning
- Equity-based compensation
About this book
Effective financial planning for executives and entrepreneurs is complex, dense, and impossible to reduce to a single, easy-to-understand formula. Designed to emphasize the importance of successful, targeted financial planning, this book begins by telling a story about a fictional, but plausible, power couple and their family who (spoiler alert!) do pretty much everything wrong in securing their financial future. In most cases, they don’t do the things needed because they don’t know what they are. Using this story as a case study of an executive and an entrepreneur, the book breaks down the case into chapters and offers practical discussions of all the key financial planning components—investment planning, tax planning, estate planning, philanthropic planning, risk management, and equity-based compensation to name a few—with the tools needed to tailor a plan for virtually every circumstance and need. While there is no single plan that works for everybody, this book provides a guide, with technical information alongside general themes, focused on how to build an effective financial plan.
In addition to all the benefits of the first edition, this second edition provides significant new content and insights for the entrepreneur who is planning for a future liquidity event such as a sale. It also provides detail on how to manage concentrated ownership positions and on ESG investment strategies, a rapidly growing investment theme. Finally, the second edition includes tax, estate planning, regulatory, and other updates to reflect changes since the first edition was published.
Reviews
“Entrepreneurs and executives often find it difficult to attend to their personal financial lives as they launch and grow their businesses. For anyone who can relate to this very real challenge, consider this your most trusted playbook as you seek to identify and address the key elements of achieving financial peace of mind throughout the pivotal moments of your career and life.” (Aaron L. Pullin, CPA, Chief Financial Officer, NS1 and experienced tech entrepreneur)
“This book is an essential read for all executives and entrepreneurs who want to build, maximize, and protect their wealth and ultimately achieve financial independence. It is presented as a cautionary tale of a professional couple’s financial misfortunes and how applied principles of financial planning can result in a more secure and rewarding financial future. The book offers a multitude of practical planning options, advice, and strategies that are tailored specifically for executives and entrepreneurs who wish to attain their personal goals and financial success.” (Carolynn Tomin, CFP®, Director, Boston University Financial Planning Programs)
“I have always felt that you learn a lot more from failures than you do successes. You figure out quickly with whom you want to be in the foxhole. When it comes to your personal finances and the future well-being of your family, you don’t want to find yourself in the foxhole with the wrong team. I found the information in this book around finding that right team to be particularly helpful.” (Scott Roe, Vice President & Chief Financial Officer, VF Corporation)
Authors and Affiliations
About the authors
Michael J. Nathanson is the Chair and Chief Executive Officer of The Colony Group, LLC. He is widely regarded as a leader in the wealth management industry and is committed to sharing his knowledge and experience with colleagues, clients, and the next generation of industry leaders. He is active in many industry-wide organizations and has served on numerous boards, including the Fidelity Institutional Wealth Services Advisor Council and the Schwab Advisor Services Advisory Board. Previously, he served on the Board of Advisors for Boston University’s Program for Financial Planners and as Co-Chairman of the Boston Bar Association Tax Section. Previously, Nathanson served as President, Chief Financial Officer, and General Counsel of The Colony Group. Prior to joining The Colony Group, he was a Senior Partner at the international law firm of Wilmer Cutler Pickering Hale and Dorr LLP, where he held several leadership positions. He earned his Juris Doctor, cum laude, from Harvard Law School, an LL.M. in Taxation from Boston University School of Law, and a Bachelor of Arts, summa cum laude, from Brandeis University, where he was elected to membership in Phi Beta Kappa and was the recipient of numerous academic honors.
Additional Authors from The Colony Group include:
Jeffrey T. Craig, CFP®
Senior Vice President & Senior Wealth Advisor
Jennifer A. Geoghegan, MBA
Chief of Staff & Strategy
Max B. Haspel
Co-President, Business Owner Services & Senior Wealth Advisor
Nadine Gordon Lee, CPA/PFS, CFP®
Managing Director, Metro NY Offices & President, Colony Group Family Office
Michael Haber, JD, CFP®
Managing Director, Colony Wealth Management & Senior Wealth Advisor
Seth P. Hieken, MSF, CFA
Executive Vice President & Director of Proprietary Strategies
Matthew C. Ilteris, CFP®, EA®
Vice President & Senior Wealth Advisor
D. Scott McDonald, MSFP, CFP®
Senior Vice President & Senior Wealth Advisor
Joseph A. Salvati, CFP®
Senior Vice President & Senior Wealth Advisor
Steven R. Stelljes, JD, CFP®
President of Client Services
Bibliographic Information
Book Title: Personal Financial Planning for Executives and Entrepreneurs
Book Subtitle: The Path to Financial Peace of Mind
Authors: Michael J. Nathanson, Jeffrey T. Craig, Jennifer A. Geoghegan, Nadine Gordon Lee, Michael A. Haber, Max B. Haspel, Seth P. Hieken, Matthew C. Ilteris, D. Scott McDonald, Joseph A. Salvati, … Stephen R. Stelljes
DOI: https://doi.org/10.1007/978-3-030-65400-9
Publisher: Palgrave Macmillan Cham
eBook Packages: Economics and Finance, Economics and Finance (R0)
Copyright Information: The Colony Group 2021
Hardcover ISBN: 978-3-030-65399-6Published: 23 April 2021
eBook ISBN: 978-3-030-65400-9Published: 22 April 2021
Edition Number: 2
Number of Pages: XXXIV, 253
Number of Illustrations: 55 illustrations in colour
Topics: Financial Services, Risk Management, Behavioral Finance