Building a successful business is a major accomplishment, but it takes planning to support personal financial security. Many business owners may find that their wealth is highly concentrated, illiquid, and tied to the fate of their company. In this episode of I’ve Been Meaning To Do That, host and Truist Wealth Head of Investment Management Oscarlyn Elder is joined by colleagues Victor Santiago, senior wealth strategist, and Julie Farah, senior trust advisor, to explore why business success and personal wealth need intentional coordination to move together. They talk about the potential risks of delaying planning, possible ways to create liquidity, and how to align business and personal strategies to consider both your company and your family.

Also in the discussion:

• Reasons business owners might neglect their personal financial planning

• How overconcentration may create risks for owners and their families

• Why business and personal financial plans should be coordinated, and how to go about it

• How advisors can help business owners plan before a transition occurs

Additional information:

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Have a question for Oscarlyn or her guests? Email [email protected].