Business growth can lead to problems without proper planning, writes Arkady Bukh, partner at Bukh Law Firm. He discusses potential pitfalls with loyalty programs, hiring and cybersecurity that could hurt your company.
Business-to-business marketing teams must adapt to deliver the hyperpersonalization now expected by prospects, comprising experts such as data analysts, creators and communications executives, Emily Lyons writes. The customer journey must be personalized at every touch point and it's critical that data is robust to ensure personalization is relevant to each individual prospect, she writes.
Family and closely held businesses should regularly consider exit planning in business strategy reviews and estate planning to get a handle on the company's potential value, point to possible buyers and mitigate transaction barriers, suggests attorney Nathan Brill. He contends this is the best way to maximize the value of a business sale down the road.
For clients who have family members with special needs, estate planning can be more complex as it also "requires the ability to navigate the confusing and often counter-intuitive rules of government benefit eligibility," write attorneys Robert Freedman and Alexis Gruttadauria. They offer 13 tips for advisers with clients in this situation.
Two-thirds of workers are more drawn to retirement benefits than they are to health care plans offered by employers, according to a Willis Towers Watson survey. They appear especially willing to surrender more from paychecks for retirement benefits than for ballooning health care costs.
Benefits options need to be relevant and built on company objectives, writes Jerry Edmondson of Aon. Use multiple channels to communicate options and remind employees about their benefits throughout the year, he suggests.
Many small-business owners continue to be uncertain about how provisions in the new tax law -- including a 20% deduction for owners of pass-through entities -- will affect them. Entrepreneurs and advisers are waiting for the IRS to write guidelines explaining aspects of the law.
Clients may benefit when advisers take a blunt approach to explaining financial realities. Here are 10 issues to discuss with clients, including the risk of holding excessive cash reserves and the fact that real returns are more important than nominal returns.
For clients wondering whether to convert their individual retirement accounts to Roth IRAs, attorney Bruce Steiner says the tax law "may tip the scales in favor of converting substantial amounts now." He notes that a conversion could have particular benefits for middle-income IRA owners under the law.