June 19, 2024

ESOPs Explained: Bridging the Wealth Gap with Chris Coates [Ep. 155]

25 minutes

What if your employees could help drive your business to new heights while investing in their own financial futures?

Uncover the power of ESOPs now!

Join host Larry Heller, CFP®, CDFA®, as he discusses the intricacies of ESOPs with Chris Coates, a skilled professional in business transition strategies. With over 30 years of experience, Coates offers an in-depth look at how ESOPs work, the benefits they provide, and why they are a compelling option for many business owners.

Key Points Covered:

Understanding ESOPs, including their basics and role as retirement benefits for employees

Significant tax advantages of ESOPs for both C and S corporations, including potential legislative changes

Ways ESOPs foster employee loyalty and incentivize employees to act like owners

The role of ESOPs in leadership succession and long-term business sustainability

How ESOPs enhance employee retirement benefits alongside existing 401k plans

A balanced look at the pros and cons of ESOPs for business owners and employees

Plus, additional insights into maximizing the benefits of ESOPs!

Connect with Chris Coates:

LinkedIn: Chris Coates

Website: SESESOP.com

Email: [email protected]

Connect with Larry Heller:

(631) 248-3600

Schedule a 20-Minute Call

Heller Wealth Management

LinkedIn: Larry Heller, CFP®, CDFA®, CPA

YouTube: Life Unlimited with Larry Heller, CFP®

About Chris Coates:

In his role as Vice President, Chris advises companies, owners and other stakeholders on business transition strategies, with a particular focus on ESOP ownership transactions. He has extensive deal shaping, negotiation and operational management experience that provide him with a unique perspective on the opportunities and challenges of companies seeking to implement employee ownership.

Prior to joining SES ESOP Strategies, Chris was a Managing Director with Accenture, a global consulting firm. During his 30-year career he has worked with various industries, including life sciences, utilities, consumer products, financial services and health and public service. In his most recent role as Commercial Director, Chris oversaw all operational aspects of sales and delivery to large, complex and global clients. This included oversight for the financial, legal, human resources and business operations aspects of the relationship.

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