Surjit and Laura
advising an entrepreneur on investments and structuring following a business sale
Surjit and Laura are in their late 50s, and they have 4 children. They have recently sold their dental practice to a group and have received net proceeds of £10.2 million from the sale. AMG were introduced to the couple 3 years prior to the sale which gave us a very good opportunity to introduce them to individuals that were experienced in increasing EBITDA.
We engaged with their existing accountant and found the advice they were receiving to be substandard. We asked other tax professionals to conduct a tax audit which found weaknesses in their planning. We were instrumental in helping the clients establish a team that would help them extract the most value from their business.
what were the couple's main goals?
how did amg add value?
- We supported the family during an important time in their lives, demonstrating care and a real understanding of their needs.
- We understood the emotional aspects to the sale and had acted as advisers and coaches throughout the process.
- We started to build a foundation of knowledge with the family in various areas such as financial, legal and tax.
outcomes
- We helped with setting up several business saving accounts pre-sale to ensure that the funds were gathering interest until the planning was finalised.
- We engaged a family Solicitor to talk about protecting wealth and keeping it within the family.
- We utilised a joined-up approach to planning where we would lead but the Accountants and Legal advisers would be working in tandem with us, with the common goal of bettering our clients financial situation.
- Pre-sale, we introduced the clients to a suite of professionals who were experts in extracting value from companies.
- We introduced the clients to experienced tax and legal experts who had been long standing trusted professionals and vetted by AMG.
- We developed a bespoke financial plan that was interactive and easy to understand by the clients and their team of professionals.
- We developed an asset protection team that ensured the assets were not exposed to undue risk such as investment, tax, divorce risk, and risk of death.
- We utilised trusts to shelter wealth before the sale of the business.
- We helped our clients to create a vision for their family wealth.
- We helped to communicate the value of their financial planning to the next generation.
- We put an educational training programme in place that helped the children understand the value of the planning that their parents had carried out.
- We understood the family dynamics and took the time to understand Surjit and Laura’s journey that had lead them to this juncture.