Forbes Contribution: Family Business Owners’ Three Biggest Practical Personal Wealth Questions

i3 CEO Kevin Heaton enjoyed contributing to this Forbes article from Christopher Carosa on #FamilyBusiness Owners’ Three Biggest Practical Personal #Wealth Questions

Read the full article by author and Forbes contributor Chris Carosa

i3 Contribution:

Family Business Owner’s Personal Wealth Question #2: How can you grow your profits and then properly split that pie among family members?

Chances are, your family was a lot smaller (and a lot younger) when you first opened the doors to your business. A growing family presents its own issues, and those include how the business responds to that growth.

“Can the family business continue to sustain current financial needs of the family as the family grows exponentially?” says Kevin Heaton, Principal at i3, LLC in Lexington, South Carolina. “Families define their specific needs to include allocating capital for growing the overall family wealth, including an objective plan for the core business. Efforts through this approach focus on the identification and acquisition of assets that meet both the family’s current and long-term needs, establish a healthy balance for their risk/reward appetite, meet the goals of an investment time-line and support the continued growth of the family business and the family wealth.”

Read the full article


Preparing the High Wealth Family for a Recession

It is wise to direct efforts focused on identifying and acquiring assets that meet the current and long-term needs, establishing a healthy balance for risk/reward appetite, and meeting the goals of an investment timeline during a recession period and beyond.

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