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Arming Financial Advisors with Tools to Help Business Owners

New Buy-Sell Review available from The Principal

April 29, 2009 (Des Moines, IA) — Now more than ever, business owners need to take a fresh look at their business continuation plans. As the business environment changes, the owner's buy-sell agreement should adapt to reflect how the business will continue once the owner is gone.

Financial advisors can help owners ensure buy-sell agreements are more effective through a new service available from the Principal Financial Group®.

The Buy-Sell Review provides an in-depth look at this essential business continuation document. By gathering a few key pieces of information, financial advisors are able to give business owners a more accurate picture of their current business valuation, provisions of their agreement and funding needs.

"A buy-sell agreement is a critical document that not only protects the business against the unexpected, but also the owner's family from the added stress of worrying about the business during an already difficult time," said Mark West, assistant vice president of Advanced Solutions for the Principal Financial Group. "In our experience, these agreements contain a surprising number of inaccuracies due to the fact they are often filed away and not revisited. By correcting these today, business owners are often able to enhance the stability and value of their business."

The Buy-Sell Review, designed for financial advisors to share with business owners, provides a simple, customized report including:

  • Buy-Sell Review Summary – highlights issues and recommendations regarding the existing agreement.
  • Buy-Sell Review Detailed Report – an in-depth analysis including any buy-sell funding needs.
  • Business Valuation Proposal – a free informal business valuation using five commonly used methods.

Once the Review is complete, it serves as a starting point for the owner to meet with tax and legal advisors to either address potential issues or confirm the agreement meets the owner's current objectives.

For more information contact your Principal Financial Group financial representative or visit www.principal.com.

About the Principal Financial Group

The Principal Financial Group® (The Principal®)[1] is a leader in offering businesses, individuals and institutional clients a wide range of financial products and services, including retirement and investment services, life and health insurance, and banking through its diverse family of financial services companies. A member of the Fortune 500, the Principal Financial Group has $247.0 billion in assets under management[2] and serves some 19.1 million customers worldwide from offices in Asia, Australia, Europe, Latin America and the United States. Principal Financial Group, Inc. is traded on the New York Stock Exchange under the ticker symbol PFG. For more information, visit www.principal.com.

 

Insurance products from the Principal Financial Group are issued by Principal National Life Insurance Company (except in New York) and Principal Life Insurance Company. 

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[1]
"The Principal Financial Group" and "The Principal" are registered service marks of Principal Financial Services, Inc., a member of the Principal Financial Group.
[2]
As of December 31, 2008
Questions?

Call 515.246.4907 or see the full Media Relations contact list.

Call 515.246.4907 or see the full Media Relations contact list.

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