Surjit and Laura

advising an entrepreneur on investments and structuring following a business sale

Surjit and Laura are in their late 50s, and they have 4 children. They have recently sold their dental practice to a group and have received net proceeds of £10.2 million from the sale. AMG were introduced to the couple 3 years prior to the sale which gave us a very good opportunity to introduce them to individuals that were experienced in increasing Earnings Before Interest, Taxes, Depreciation, and Amortisation.

After engaging with their existing accountant we asked other tax professionals to conduct a tax audit which found weaknesses in their planning. We were instrumental in helping the clients establish a team that would help them extract the most value from their business.

All introductions are to services that are separate and distinct from the services offered by AMG or SJP.

what were the couple's main goals?

  • The couple were not confident about their existing accountant.
  • They wanted to know what life would look like post sale.
  • They wanted to minimise tax where possible in a legal manner. Using robust tax planning and not 'speculative' planning.
  • They have always been asset rich and cash poor and needed help with understanding their options.
  • They wanted to ensure that their children remained grounded individuals.
  • They wanted to use the proceeds of the sale to empower their family and to create financial independence.
  • They needed advice on paying off existing mortgage debt.
  • They wanted to help secure their children’s future but were concerned about money leaving the family due to future failed relationships.

    • how did amg add value?

    • We supported the family during an important time in their lives, demonstrating care and a real understanding of their needs.
    • We understood the emotional aspects to the sale and had acted as advisers and financial coaches throughout the process.
    • We started to build a foundation of knowledge with the family in various areas such as financial, and tax planning.

    outcomes

    • We made referrals for setting up several business saving accounts pre-sale to ensure that the funds were gathering interest until the planning was finalised.
    • We engaged a family Solicitor to talk about protecting wealth and keeping it within the family.
    • We utilised a joined-up approach to planning where we would lead but the Accountants and Legal advisers would be working in tandem with us, with the common goal of bettering our clients financial situation.
    • Pre-sale, we introduced the clients to a suite of professionals who were experts in extracting value from companies.
    • We introduced the clients to experienced tax and legal experts who had been long standing trusted professionals.
    • We developed a bespoke financial plan that was interactive and easy to understand by the clients and their team of professionals.
    • We developed an asset protection team that ensured the assets were not exposed to undue risk such as investment, tax, divorce risk, and risk of death.
    • We utilised trusts to shelter wealth before the sale of the business.
    • We helped our clients to create a vision for their family wealth.
    • We helped to communicate the value of their financial planning to the next generation.
    • We put an educational training programme in place that helped the children understand the value of the planning that their parents had carried out.
    • We understood the family dynamics and took the time to understand Surjit and Laura’s journey that had lead them to this juncture.

    The value of an investment with St. James's Place will be directly linked to the performance of the funds you select and the value can therefore go down as well as up. You may get back less than you invested.

    The levels and bases of taxation and reliefs from taxation can change at any time. The value of any tax relief depends on individual circumstances.

    All introductions and engagements, including Solicitors, Accountants and Legal Advisers, involve referral to services that are separate and distinct from the services offered by AMG or SJP.

    Trusts are not regulated by the Financial Conduct Authority

    The advice provided to our clients was given after a full evaluation of their specific needs, circumstances and requirements. The solutions provided would not be suitable for most investors and the information provided does not constitute advice.