Personal Financial Planning for Executives and Entrepreneurs: The Path to Financial Peace of Mind

by Michael J. Nathanson, Jeffrey T. Craig, Jennifer A. Geoghegan, Nadine Gordon Lee, Michael A. Haber

Overview

Effective financial planning for executives and entrepreneurs is complex, dense, and impossible to reduce to a single, easy-to-understand formula. Designed to emphasize the importance of successful, targeted financial planning, this book begins by telling a story about a fictional, but plausible, power couple and their family who (spoiler alert!) do pretty much everything wrong in securing their financial future. In most cases, they don’t do the things needed because they don’t know what they are. Using this story as a case study of an executive and an entrepreneur, the book breaks down the case into chapters and offers practical discussions of all the key financial planning components—investment planning, tax planning, estate planning, philanthropic planning, risk management, and equity-based compensation to name a few—with the tools needed to tailor a plan for virtually every circumstance and need. While there is no single plan that works for everybody, this book provides a guide, with technical information alongside general themes, focused on how to build an effective financial plan.

In addition to all the benefits of the first edition, this second edition provides significant new content and insights for the entrepreneur who is planning for a future liquidity event such as a sale. It also provides detail on how to manage concentrated ownership positions and on ESG investment strategies, a rapidly growing investment theme. Finally, the second edition includes tax, estate planning, regulatory, and other updates to reflect changes since the first edition was published.

Product Details

ISBN-13:	9783319984155
Publisher:	Springer International Publishing
Publication date:	11/13/2018
Edition description:	1st ed. 2018
Pages:	187
Product dimensions:	6.10(w) x 9.25(h) x (d)

About the Author

Michael J. Nathanson is the Chair and Chief Executive Officer of The Colony Group, LLC. He is widely regarded as a leader in the wealth management industry and is committed to sharing his knowledge and experience with colleagues, clients, and the next generation of industry leaders. He is active in many industry-wide organizations and has served on numerous boards, including the Fidelity Institutional Wealth Services Advisor Council and the Schwab Advisor Services Advisory Board. Previously, he served on the Board of Advisors for Boston University’s Program for Financial Planners and as Co-Chairman of the Boston Bar Association Tax Section. Previously, Nathanson served as President, Chief Financial Officer, and General Counsel of The Colony Group. Prior to joining The Colony Group, he was a Senior Partner at the international law firm of Wilmer Cutler Pickering Hale and Dorr LLP, where he held several leadership positions. He earned his Juris Doctor, cum laude, from Harvard Law School, an LL.M. in Taxation from Boston University School of Law, and a Bachelor of Arts, summa cum laude, from Brandeis University, where he was elected to membership in Phi Beta Kappa and was the recipient of numerous academic honors.​

Additional Authors from The Colony Group include:

Jeffrey T. Craig, CFP®

Senior Vice President & Senior Wealth Advisor

Jennifer A. Geoghegan, MBA

Chief of Staff & Strategy

Max B. Haspel

Co-President, Business Services & Senior Wealth Advisor

Nadine Gordon Lee, CPA/PFS, CFP®

Managing Director, Metro NY Offices & President, Colony Group Family Office

Michael Haber, JD, CFP®

Managing Director, Colony Wealth Management & Senior Wealth Advisor

Seth P. Hieken, MSF, CFA

Executive Vice President & Director of Proprietary Strategies

Matthew C. Ilteris, CFP®, EA®

Vice President & Senior Wealth Advisor

D. Scott McDonald, MSFP, CFP®

Senior Vice President & Senior Wealth Advisor

Joseph A. Salvati, CFP®

Senior Vice President & Senior Wealth Advisor

Steven R. Stelljes, JD, CFP®

President of Client Services

Table of Contents

Preface
Michael J. Nathanson

Chapter One: The Story of David and Goliath – and Abby and Samson, Part I

Michael J. Nathanson

Chapter Two: The Goals of Executive Financial Planning – Peace of Mind and the Five Pillars
Michael J. Nathanson

Chapter Three: Understanding and Negotiating Executive Employment Agreements for Success

Michael J. Nathanson

Chapter Four: The ABCs (and ESPPs, RSUs, SARs, ISOs, and NSOs) of Equity-Based Compensation

Nadine Gordon Lee

Chapter Five: The Story of David and Goliath – and Abby and Samson, Part II

Michael J. Nathanson

Chapter Six: Achieving Financial Independence – Goals-Based Planning

Michael Haber and Joseph A. Salvati

Chapter Seven: Investment Planning in Five Steps

Matthew C. Ilteris and Seth P. Hieken

Chapter Eight: Tax Planning and the Ten Commandments

Jeffrey T. Craig, D. Scott McDonald, and Michael J. Nathanson

Chapter Nine: Estate Planning and Why It’s Really So Important

Joseph A. Salvati and Stephen R. Stelljes

Chapter Ten: Planning for Philanthropy and What it Can Do for Everyone

Nadine Gordon Lee

Chapter Eleven: Managing Some of Life’s Great Risks through Insurance

Joseph A.Salvati

Chapter Twelve: Finding the Right Advisors

Jennifer A. Geoghegan

Chapter Thirteen: The Alternative Story of Delilah, Redemption, and the Promised Land
Michael J. Nathanson

What People are Saying About This

From the Publisher

“In my work as an investor and advisor to executives and entrepreneurs at all levels, I have come to learn that their amazing business achievements have not always led to personal financial success for them or their families. This book aims to assist them on their journey. It offers a creative, highly engaging approach to identifying the many obstacles and solutions on the path to financial peace of mind.” (Kevin Mohan, JD/MBA, Senior Advisor, Summit Partners and Senior Lecturer, Harvard Business School)

“Entrepreneurs and executives often find it difficult to attend to their personal financial lives as they launch and grow their businesses. For anyone who can relate to this very real challenge, consider this your most trusted playbook as you seek to identify and address the key elements of achieving financial peace of mind throughout the pivotal moments of your career and life.” (Aaron L. Pullin, CPA, Chief Financial Officer, NS1 and experienced tech entrepreneur)

“This book is an essential read for all executives and entrepreneurs who want to build, maximize, and protect their wealth and ultimately achieve financial independence. It is presented as a cautionary tale of a professional couple’s financial misfortunes and how applied principles of financial planning can result in a more secure and rewarding financial future. The book offers a multitude of practical planning options, advice, and strategies that are tailored specifically for executives and entrepreneurs who wish to attain their personal goals and financial success.” (Carolynn Tomin, CFP®, Director, Boston University Financial Planning Programs)

“I have always felt that you learn a lot more from failures than you do successes. You figure out quickly with whom you want to be in the foxhole. When it comes to your personal finances and the future well-being of your family, you don’t want to find yourself in the foxhole with the wrong team. I found the information in this book around finding that right team to be particularly helpful.” (Scott Roe, Vice President & Chief Financial Officer, VF Corporation)