Local Parsec Advisors

Parsec Financial has a local office in Southern Pines. Financial advisors Scott Kittrell and Greg James are ready to help you with your business succession planning needs.

A business starts with a skill, a dream, and a whole lot of hard work and sacrifice. Add some luck (some might say) and it flourishes, supporting the families of its owners and employees while making a difference in the lives of its clients, customers, and community. Thus, selling that business can be hard.

“Most business owners have no idea how emotionally fraught the process can be,” says Greg James, CFP®, a partner at Parsec Financial. “Clients approach us with a wide range of feelings, from excitement to fear and reluctance, but they all want to know what their business might be worth and if they’ll be able to retire comfortably after the sale. Understandably, it’s difficult for a business owner to look at the value of his or her company through an objective lens. That’s where we come in.”

James and his colleagues have navigated these waters many times across various industries such as manufacturing, health care, and real estate, among others.

Sometimes, as the Parsec advisors work closely with their client, it becomes apparent that this is not the right time to sell due to market conditions or the client’s own financial situation. In that case, James and his colleagues suggest industry-specific strategic planning and record keeping that will maximize value when the right time comes.

Critical Questions, Ready Answers

“I’ve run this company for 30 years. Once it’s sold, what will my income be? How long will we be able to live on it? Will there be anything left for my kids and grandkids?”

James says he fields important questions like these every day. As a sale nears, Parsec advisors develop a comprehensive plan that shows their client exactly how to invest the profits from the sale of the business, as well as how much income it will generate and for how long. “This information ups the comfort level significantly,” says James. “Knowledge is definitely power—and peace of mind—when it comes to succession planning.”

Forceful Foresight

Why would some business owners seek the help of a succession planner when a sale isn’t being considered at all? “These clients are thinking ahead,” says James. “They want a detailed plan in place for sale or succession in the event of their unexpected death or disability. Having all the contracts and agreements written ahead of time is just good business.”

Ready to start the succession planning process? The financial advisors at Parsec are ready to partner with you.

To learn more and download a free guide on different business succession scenarios, visit parsecfinancial.com/succession-planning.

(0) comments

Welcome to the discussion.

Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
PLEASE TURN OFF YOUR CAPS LOCK.
Don't Threaten. Threats of harming another person will not be tolerated.
Be Truthful. Don't knowingly lie about anyone or anything.
Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
Comments that violate any of the rules above are subject to removal by staff.

Thank you for reading!

Please purchase a subscription to continue reading. Subscribe today and support local community journalism.

Digital Only Subscriptions

Get 24-7 digital-only access and support award-winning community journalism. This gives you access to thepilot.com and its electronic replica edition.

Starting at
$5.35 for 30 days

Already a Print Subscriber? Get Digital Access Free.

As a print subscriber , you also receive unlimited digital access. You can do that here. For any problems, call our customer service number at 910-693-2487 or 693-2488.

Free access for current print subscribers

Home Delivery

Get all the news of Moore County delivered to your home each Wednesday and Sunday with home delivery. Your home delivery subscription also includes unlimited digital access to thepilot.com.

Starting at
$27.82 for 90 days