Advising Entrepreneurs Dynamic Strategies for Financial Growth [Hardcover]

This valuable book helps financial advisors address the needs of their entrepreneurial clients. Most people opening their own businesses are experts in their fields. But when it comes to the vital intricacies of running a successful business, many entrepreneurs find themselves struggling to survive.With more and more people starting their own small businesses, a growing need has developed for expert guidance to help today's entrepreneurs face their new legal, tax, and financial challenges. Advising Entrepreneurs helps financial advisors address the special needs of their entrepreneurial clients. It provides a comprehensive approach to growing wealth, shielding business assets from liabilities, lowering taxes, and much more by promoting prudent risk-taking.

Marc Lane (Chicago, IL) is a business and tax attorney. He is a Master Registered Financial Planner, Registered Financial Consultant, and Certified Investment Specialist. He has authored thirty books, is an Adjunct Professor of Business at the University of Illinois College of Business Administration's Institute for Entrepreneurial Studies, and an Adjunct Professor of Law at Northwestern University.

Preface xiii

Part One The Financial Advisor’s Role 1

CHAPTER 1 The Regulatory and Ethical Environment 3

Duties of a Fiduciary 4

Initial Interview 6

Compensation Approaches 7

Engagement Letter 9

Conflicts of Interest 10

CHAPTER 2 Financial Management and Planning 13

Pre-Start Analysis 14

Entrepreneur as Manager 16

Evaluating the Enterprise 19

Eventual Harvest 24

Part Two Shaping the Venture’s Financial Structure 27

CHAPTER lÓ3