Wealth Management Business Planning Fees

What is Business Wealth Management?

Wealth Management for Business is a complex process of Personal Wealth Management happening concurrently with Business Wealth Management. We feel that Business Wealth Management cannot happen without the personal side as both drive toward the same goal: your overall financial outcome.

The Business Wealth Management Process

The process of Wealth Management for businesses is a complicated process that weaves together the owner's personal financial planning with the growth strategies on the business side. Building and planning both these aspects as you can imagine is a lengthy and complicated process. In an effort to illustrate this concept we have broken it down the planning process into four major parts: pre-management for the owner, pre-management for the business, the management process for the owner, and the management process for the business. Aspects of all four might happen in tandem or completely different times.

The Pre-Management Process

Because there are so many processes that will be happening in the Business Wealth Management process, the pre-management will have many more steps than our other wealth management process. Before any management begins, certain pre-management processes need to be taken in order to determine what you are looking to accomplish, set expectations, gather data, determine goals, and start building your accounts... for both the personal side AND business side. Our pre-management process is:

Introduction Phone Meeting

We will start our relationship with an initial phone meeting used to determine what you personally and your business are looking to accomplish and set expectations. If everyone feels comfortable with the new relationship and we all agree to move forward, the process can officially begin.

Personal & Business Data Gathering/Risk Assessment

PERSONAL: At this time we will request all your personal financial information. We will send you a list of personal documents that we will need such as investments, tax returns, insurance, home budget, etc. Having this information as soon as possible will allow us more time to be able to review and possibly ask you to bring any additional information.

BUSINESS: We will also request many, MANY business documents at this time. We will ask for such items as an employee census, your tax returns, the balance sheets, a comparative P&L, operating agreements. Depending on the entity, your meeting minutes on record, a business plan, your business goals, etc.

Knowing where you are in both areas give us the starting point for strategies that complement each other.

Goal-Identification Meetings

PERSONAL: Goal identification is the heart of financial planning. During this meeting you will share with us your specific financial goals, we will discuss the feasibility of these goals, and quantify how to reach these goals.

BUSINESS: Goals for your business will require a lot more discussion to ascertain. It will be a long process of determining current goals and revising to new goals based on the many factors about what we learn about the current status of your business, the changes we will be making, and your personal goals.

Because of the strategic nature of these meetings, we do require all decision-makers at this and other planning meetings. These goal identification meetings might be held at different times.

Engagement Agreement

At this point in the process, all parties will know if the Advisor/Client relationship is profitable and worth engagement. Paperwork is now required for us to formalize the process.

In order to gain access to your existing accounts, you will need to fill out Engagement Agreements (fiduciary agreement) for both you and your business. This paperwork is required for us to begin the process of opening your new accounts and transferring funds.

Open Accounts/Transfer Funds

Upon completion of all paperwork, the Engagement Agreement will be sent to our custodian TD Ameritrade, accounts for your personal side will be opened, and funds transferred in. After the funds are deposited, you will receive login information to all online portals allowing you access to all your accounts.

Please note, the transfer of funds can take as little as three days, or as long as two months. Also, all funds will be housed at TD Ameritrade, not Heritage Investors.

The Management Process

After all this preliminary work is complete, the professionals at Heritage take over and start driving.

The management of both the business and personal strategies will be both happening at the same time, but working independently at different paces using different strategies. As milestones and outcomes are met changes will be made ultimately driving toward the same end goal: a complete, whole-life financial growth system.

Matching - Plan Review

Using the numbers from the Data Gathering, Risk Tolerance, and the discussions during our Goal Setting meeting in the pre-management process, we will be comparing the existing plans to the agreed-upon goals to see if the strategy "matches" the goals.

In many cases, the outcome of your current financial plan is less than desirable and adjustments are needed. It is in this review meeting where we will generate multiple scenarios with various outcomes until we find the exact approach to achieve the desired results.


After we review the various goal-driving scenarios discussed in the Matching Meeting, we'll begin implementing the scenario which best fits your personality, your style, and your overall objectives.

The implementation phase could take two weeks, it could take six months, or it could take a year to implement all the initial strategies. But once we finish the implementation phase, then we update the planning software with the adjustments that we've made and we'll schedule a final plan review.


After we have updated the planning software with all the adjustments and specifics changes we have made, we will review the big picture again. We will confirm that you are headed in the exact direction toward your specific goals. This will be a final recap of our entire process thus far. It is also with this last step that we will create your personal user portal.

Monitor/Review – Tactical Rebalancing

Throughout the year there will be changes to your goals in your personal life. There will be changes in the business world that require strategy modifications. And each will affect the other. We will constantly adjust our direction to make sure you are staying on your path moving toward both personal and business goals.

Financial Plan Review Meetings

Depending on your specific needs and plan, we could continue to meet multiple times per year (see the business management fees page).

As with other reporting meetings, we request that decision-makers attend.

Learn the Business Management Fee Structure

Just one of the many ways we feel your trust is gained is by being 100% transparent about the fee structures. Click to learn about our Wealth Management fee structure.

Schedule An Intro Phone Meeting

If you are ready to discuss the details of how Heritage Investors will manage the financial strategy of both your personal and business, schedule a meeting with one of our team members.