In a family business, the most difficult decisions are not always about business. They usually involve the family itself.

At the urging of his wife, Linda, Stan felt it was time to reap some of his hard-earned rewards and take a sizable distribution from his company. He approached us questioning the best way to go about it.“It’s time to pull some cash out of the business,” Stan said. “I’d like to know where you recommend investing it.”

Stan had heard good things about SEI, but he wasn't aware that investing was only one thing we help with.

Stan had heard good things about SEI, but wasn’t aware that investing was only one thing we help with. Before offering any advice, we need to understand what our clients want to accomplish with their wealth and the things they value most in life.

Was Stan trying to ensure his present lifestyle? Did he want to grow money to pass to his children or a charity? Was he looking to set money aside for himself and his wife for their retirement? And what would they like to do with their free time once they had it?

Through our conversations with Linda and Stan, we discovered the underlying reason why he wanted to take money out of his business. And it had nothing to do with investing of any kind. Stan had grown tired of running his company but had doubts about his elder son’s ability and desire to take over and manage it once he stepped down.

Stan’s elder son was a talented sculptor with little interest in his father’s line of work, while his younger son had a disability that prevented him from finding work outside the family business. Stan found it hard to accept these facts. He thought he would be protecting everyone by taking money out of his company should it not remain a steady source of income under his elder son’s management.

With the facts on the table, we could finally help Stan come to terms with all the issues, making it possible for him to achieve what was best for his family and himself.

Since Stan had lost interest in his business, we discussed the option of selling. That would also serve to free Stan of the notion that any member of his family would ever be expected to manage it. Stan embraced this idea and we moved ahead.

The proceeds of the sale were applied to both safeguarding his younger son’s future and to realizing a cherished goal that had remained unexpressed all this time — the chance to champion his elder son’s artistic aspirations.

"Stan and Linda's experience with SEI offered an entirely new perspective on their wealth, giving them a peace of mind that they hadn't experienced for years. "

Through a gifting program we helped Stan establish, his elder son could confidently pursue his sculpting without the pressure of running his father’s business.

Stan and Linda’s experience with SEI offered an entirely new perspective on their wealth, giving them a peace of mind that they hadn’t experienced for years. Looking ahead, Stan and Linda know our continued relationship will help ensure their financial freedom — and their sons’ — in the new and invigorating direction their lives have taken.