Business Solutions

Here at Baumgarten Financial, we offer a wide array of services to help business owners address their financial needs at every stage of the business life cycle. Taking into account their personal values and financial goals, we create and execute customized strategies to help entrepreneurs meet their objectives. Some of our key services are detailed below.

Executive Benefits

The success of most businesses is tied in to the talent, passion, and work ethics of their key executives. Executive benefit packages can help you attract, motivate, and retain high-caliber employees and keep your company healthy and stable. We can help you with funding non-qualified plans, supplemental employee retirement plans, split dollar plans, and more.

Succession Planning

Succession planning allows owners to retire from their business within their own time frame, while preparing for the company to be transferred to family members, key employees, an outside party, or even a charity. This must be done in a way that achieves personal financial security, maintains harmony, and achieves maximum value for the business. We can provide financial strategies for succession planning.

Key Person

Key person life insurance offers a death benefit that helps indemnify an employer for the loss of one of its most important assets—the key person. This can help assure continuity of the business for employees, customers, and creditors, and protects against losses in sales, momentum, and credit. It can also be used to assist with recruiting and developing a replacement for the employee.

Funding Buy-Sell Agreements

A buy-sell agreement is a legally binding agreement between co-owners of a business that governs the situation if a co-owner dies or leaves the business, whether by force or by choice. A funded cross-purchase buy-sell plan utilizes life insurance to help ensure that the arrangement is properly funded so that there will be money if the event occurs.

Funding Deferred Compensation

Deferred compensation is a written agreement between an employer and an employee in which the employee chooses to have part of his or her compensation withheld by the company, invested on their behalf, and distributed to them at a predetermined point in the future. Deferred compensation can be used as a flexible way to attract and incentivize key employees. We provide funding strategies for deferred compensation.

Employee Benefit Solutions

“Service” is more than just a buzz word in our office. It's the way we do business.

Nowhere is that more apparent or more important than for our Employee Benefits clients. We know that the success of a benefits package doesn’t end at enrollment; that’s just the first step. Employers and their employees have a vested interest in the reliability, efficiency and compliance of their health, dental and other benefits, and we share that expectation.

Toward that goal, we’re proud to present our Commitment to Service:

  1. First and foremost, we’re advocates for you and your employees.

    That means doing everything possible to ensure that your plan is installed quickly, accurately, and efficiently. In addition, we’re your contact for issues or problems (enrollment, terminations, billing, changes) that just can’t seem to get resolved through the usual channels. Working in conjunction with the other partners on your team, we’ll do our best to troubleshoot unresolved issues.

  2. We’re good communicators.

    When you call, you’ll get a live body 95% of the time no voicemail quagmire here. If you have to leave a message, we’ll return your call the same day or early the next business day. We’re also dedicated to keeping you current on changes that might affect your plan or reporting requirements. We’re sticklers for detail, keeping comprehensive files, and will communicate in any way that’s comfortable for you, whether it’s by phone, fax, email, snail mail or overnight service.

  3. We’re looking at your benefit program even when you’re not.

    You’re never off our radar screen, and about 3 months prior to your renewal date, you’re right in the center of it. It’s at that time when we start gathering information and data to prepare for your plan renewals. We take pride in providing in depth analysis and updates on your plan programs.

  4. Your goals are our goals.

    At the core of every employee benefits decision is the need to balance good benefits with manageable costs. We understand how those decisions affect your business and your ability to attract and retain quality employees. We’re happy to arrange information|education meetings for small or large groups of employees. These sessions help them understand how to get the most from their benefits, what their responsibilities are in the process, and also reinforce the employer’s commitment to providing these important benefits.