ESOP Advisor in Town and Country, MO

Complimentary financial planning By Savology

ESOP advisor in Town and Country, MO. Employee stock ownership plans (ESOPs) are becoming a more and more well-liked retirement benefit for employees in a variety of sectors in Town and Country, MO. They offer business owners a chance to move on from their company while greatly reducing taxes on the sale, and offer employees a qualified retirement plan that builds their investment in your company. However, designing, implementing, and maintaining an ESOP isn't something most Town and Country, MO business owners can do alone. Correct Capital's knowledgeable and savvy ESOP advisors help businesses of all sizes, in Town and Country, MO and around the nation, develop tailored retirement plans that benefit themselves, their employees, and their revenue.

If you're looking for a trustworthy financial partner in Town and Country, MO who shares your goals of building your company and employees for enduring success, call Correct Capital at 877-930-4015, contact us online, or schedule an appointment with one of our financial advisors today.


Schedule a Meeting With an Advisor Today

Correct Capital Wealth Management's office is physically located in St. Louis, MO, but we serve clients throughout the United States in both personal financial planning and corporate retirement plans.

Schedule a 15-Minute Introductory Call


About Employee Stock Ownership Plans (ESOPs)

An ESOP is a tax-advantaged retirement plan where employees receive stock of the company that employs them, rather than savings accounts or investments in other companies such as in a 401(k). ESOPs are 100% company funded, and often times shares offered to employees are not controlling shares, meaning control of the company stays with ownership and other executives. They offer fantastic incentives to employees while providing businesses with an enhanced value proposition to employees, and allow business owners to set up a succession plan while retaining control. When they retire, most employees sell the stock at marketplace value.

Of special interest to business owners, by transferring part of your ownership to the ESOP, owners can defer capital gains taxes, allowing you to allocate that tax hit instead of having to pay taxes right away. In many cases, ESOPs are a succession plan that keeps the most amount of money feasible with the owner.

Benefits of an Employee Stock Ownership Plan

  • Sell a portion of your business (minimum 30%) with deferment of capital gains taxes (provided you reinvest into qualified replacement securities)
  • Extra tax deductions through contributions made to employees
  • If the business is one day 100% owned as an S-Corp by the ESOP, it's not subject to federal income taxes
  • Align the goals of employees and stockholders
  • Present a higher value proposition when hiring
  • Increase employee motivation and productivity
  • Enhance employee retention and loyalty
  • Facilitate succession planning and business continuity
  • Maintain control while planning or easing into retirement
  • Increase personal liquidity of owners, but still hold on to control of the company
  • Carry on your business' legacy and culture

What About KSOPs?

A KSOP is a tax-advantaged plan that is a combination of an ESOP and a 401(k). Ownership shares are extended to employees as in an ESOP, employees can deposit their own money to acquire additional shares through payroll deductions, or the company can match employee contributions with shares instead of cash.

Setting up a stock ownership plan doesn't have to exclude your employees from more diverse investments. In fact, introducing an ESOP or KSOP to a more traditional retirement plan allows you to receive the benefits of both. The experienced Town and Country, MO ESOP advisors and retirement consultants of Correct Capital can assist you find the best retirement plan for you, your business, and your employees.

How Our Town and Country, MO ESOP Advisors Can Help

Whether you're motivated by a succession plan, employee incentives, or any other of ESOPs' benefits, you'll need a knowledgeable Town and Country, MO ESOP advisory firm in your corner to get the most out of your plan. When you work with Correct Capital, we:

  • Reduce your tax liability as much as possible — When you sell your ownership shares to an ESOP, you have the option to reinvest the proceeds in other securities to postpone capital gains taxes on the sales, permitting you to retain more of the profit. To defer capital gains taxes, your ESOP advisor can help you execute a Section 1042 exchange by selling at least 30% of your company to the ESOP and reinvesting the proceeds in qualified replacement securities or QRP. Taxes would be payable until the taxpayer has a disposition of the QRP. An ESOP advisor can guarantee you obtain the most tax benefit from your ESOP.
  • Personalize your ESOP and retirement plans — Along with your team, we'll develop and implement an ESOP that works best for you and your unique company. We like to challenge ourselves and our clients to get imaginative with retirement plan offerings to optimize the advantages they provide. We'll assess your needs, evaluate different ESOP options, and recommend a customized ESOP that meets legal requirements and is aimed at optimizing benefits. If it makes sense, we may also recommend combining an ESOP with a 401(k) or different retirement plans to additionally augment benefits, without sacrificing efficiencies.
  • Conduct a ESOP feasibility study — When we first meet with our clients, we work to grasp their needs and collaborate with them to find the best qualified retirement plans for their business. For clients interested in an ESOP, part of that means performing a feasibility analysis to determine if it's a feasible option for your company. We'll examine:
    • Cash flow, debts, and overall financial health
    • Ownership structure to understand the implications of introducing an ESOP
    • Employee demographics to understand how they're best served
    • Tax implications for both your company and shareholders
    • Company culture and employee engagement to determine if an ESOP is likely to be well-received and supported

    What if your business isn't a great fit for an ESOP? We'll partner with you to find a retirement or succession plan that works for you.

  • Connect you with valuation firms and trustees — Implementing and maintaining an ESOP involves a lot of moving parts, including CPAs, lawyers, and a trustee to buy stock of the company on behalf of the ESOP. An experienced ESOP advisor with a strong network in Town and Country, MO can help you establish your ESOP team with dependable partners.
  • Ensure compliance — IRS, Department of Labor, and ERISA all have strict regulations for the management of retirement plans. For instance, when individuals enrolled in an employee stock ownership plan at a closely held employer receive company stock in an ESOP distribution, they have the option to demand the employer to repurchase them at market value.
  • ESOP sustainability assessments — In an ESOP, shares are granted to employees over time based on length of service. Usually, that means ownership of the company is passed to the ESOP in phases. Depending on how you structure your company and the plan, your ESOP may start with 30%, but could ultimately achieve 100% ownership. As the plan evolves and matures, so will its impact on your company. ESOP advisors can plan for these changes and react to them in real time, facilitating your plan to stay viable, compliant, and profitable.
  • Employee communication and education — Our ESOP advisors offer group sessions and individual consultations with your employees so they can optimize the advantages from your ESOP. With an ESOP advisor from Correct Capital, your employees won't just acquire partial ownership of your company, but they'll feel like they're obtaining ownership of their financial health and future.

Why Choose Correct Capital as Your ESOP Advisor in Town and Country, MO

Correct Capital is an independent advisory firm that specializes in assisting business owners establish retirement plans and succession plans for their enterprises. There are multiple factors we believe set us apart from other investment advisory agencies in Town and Country, MO, and across the United States:

  • A member of the National Association of Plan Advisors (NAPA), Correct Capital was recently named one of their Top Defined Contribution (DC) Teams with Assets under Advisement of at least $100 million. Correct Capital is the only advisory firm in Missouri to achieve this distinction.
  • We know retirement plans and ESOPs. Correct Capital's clients currently operate these plans in a wide range of industries, including for construction companies and contractors. As we work with both businesses and individuals and families when managing retirement plans, we're ideally suited to understand the needs of each and develop a plan that fulfills the necessities of both, as well as those of your stockholders.
  • Our award-winning Town and Country, MO financial advisory team is composed of a diverse range of financial expertise, including an Accredited Investment Fiduciary®, multiple CERTIFIED FINANCIAL PLANNER™ professionals, a certified public accountant, and a six-time Barron's Top 1200 Advisor. With over eight decades of combined experience, we pool our collective talents and insights to optimally assist each client individually.
  • As independent fiduciary advisors, we are legally and morally bound to do what's in the optimal interest of you, your employees, and your company. We strive to form long-term relationships with our clients grounded in trust and the mutual goal of expanding your and your employees' financial prosperity.

Other services we offer in Town and Country, MO:

ESOP Advisor in Town and Country, MO | Retirement Consultants | Financial Advisors Near Town and Country

Call Correct Capital to Speak With an ESOP Advisor in Town and Country, MO Today

If you're interested in learning more about ESOPs or desire to commence the process of setting one up for your Town and Country, MO business, get in touch with a Correct Capital ESOP advisor today. Let us do what we do best so you can concentrate on what you value most: establishing yourself, your business, and your employees up for prosperity. Contact with one of our Town and Country, MO ESOP advisors now at 877-930-4015 or contact us online.


Are you ready to experience the Correct Capital difference?

GET STARTED

Meet our team of financial advisors.

Our Team

Services We Offer