Key Person and Shareholder Protection
Why key person and shareholder protection?
As a business owner, people are your biggest asset; and your biggest risk. Many business owners haven’t thought through what would happen in the event that something happens to a shareholder, partner or other key person within the business. We can help you plan for:
- Loss of profits
Over half of businesses think they would cease trading in less than a year if a key person died or became critically ill1.
- Shareholder protection
If your business partner was too ill to work, or died suddenly, it’s important to make sure firm control of the business is maintained..
- Succession planning
If you lost a key person in your business, how long would it take you to find a replacement? This loss could also result in damage to client relationships.
How we can help
Mercer Jelf Financial Planning have a dedicated team of Business Protection professionals, with many years’ experience of helping business owners protect their businesses, key employees and themselves.
From carrying out a business health check through to reviewing your current succession plan, we can ensure you have the right plans in place should the worst happen.
Need advice? Our team can help.
Send us a message or call us on the number below.
1. L&G Business Protection Report April 17
Key people come in all shapes and sizes: business owners who set the strategic direction; people who have influence on profit like sales or research directors; specialist employees; or people who have relationships with third parties like banks or suppliers. We can help you to put plans and protection in place to ensure that if any key people are lost, your future is secure.
Tax efficient solutions
We work with leading insurers to find optimum cover for your key people, and ensure that any paperwork and processes are completed as smoothly as possible. By putting a Business Will in place in conjunction with appropriate protection, we can help you to ensure that shares and money end up in the right hands.
Frequently asked questions
We would help you assess this – and it would depend on factors such as your turnover to help calculate the potential loss you would incur if the worst happens.
Someone who is critical to the operation of the business – for example, a sales director responsible for key relationships, or an Research & Development Director responsible for future product design.