Small Biz Owners

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Jul 23, 2006 3:10 pm
Jul 23, 2006 4:21 pm

Small biz owners understand the value of their time and the need for advice.

Jul 23, 2006 6:55 pm

Small biz owners can make more money investing in their own business than in any dog stock or fund a wirehouseboi can recommend.


Insurance is the big dollar sale with this crowd. There are better targets for the brokerbois.

Jul 24, 2006 11:38 am
RealityBichslap:

Small biz owners can make more money investing in their own business than in any dog stock or fund a wirehouseboi can recommend.


Insurance is the big dollar sale with this crowd. There are better targets for the brokerbois.



Not necessarily true.

I know lots of brokers that have built their books around small business owners.  There are several advantages to this approach:

SBOs have unique financial needs, specially in areas like estate planning Their time is valuable and they are willing to pay for good advice.
They have access to complex retirement vehicles through their businesses
They sometimes get 'sudden wealth syndrome' due to a stellar year or the sale of the business
They see the need to diversify.  Taking dividends and investing them away from the business protects those assets from a falloff in sales or from a lawsuit.
They need financial services for their businesses and for themselves.