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Family Business Owners live in fear of being the sinking ship. What happens to them, and their family if they are the one who brings their business down? There is one easy solution that can help them plan through a range of unforeseen financial events.

When it comes to their personal finances or forward planning, many Family Business Owners bury their head in the sand. They make excuses [I’m too busy] which does nothing but place them more at risk. Instead, they should do this:


Go to “Plan B”.

Business succession planning is made all the more clearer when a “Plan B” has been created by an advisor for retirement. By planning early, the level of emotion that can influence decisions, is greatly reduced.

A strong Plan B will succeed, even if the business doesn’t.


It’s time to go……

Knowing that their financial issues are in order enables business owners to exit their business without the risk of negatively impacting on their retirement and lifestyle.

A good Plan B is one that conservatively estimates – or ignores the business’s ability to contribute to future retirement plans. It should focus on lifetime goals and provide protection against bankruptcy.


The young Business Owner

The younger the Business Owner, the more value a risk management plan and personal insurance plan. Young families need protection. They need to deal with a range of issues that may occur as the result of death. They need to know how the business transfers to a new business partner without taking money from the family.

Never underestimate the power of the present

The best time to plant a tree was 20 years ago, the second best time is today.  The same applies for planning ahead. The sooner it is completed, the better.

If uncertainty is one of the biggest threats to success, a Plan B goes a long way to removing many threats. If you want more information on this strategy, ask us for a copy of “Leading a Family, Leaving a Legacy”. Simply call 9077 2906 or email us via our website:

James Stephan

Independent Financial Advisor

James has always been a numbers man. After he finished high school he seriously considered becoming an actuary, after some gentle coercion from the Stephan hierarchy he decided to complete a Bachelor of Business (Fin plan) at RMIT University.

James has a meticulous eye for financial strategy and takes the lead in managing the technical advice side at Stephan Strategic. James has spent time at various Melbourne Universities educating the next crop of financial planning professionals.

  • Enjoy the fruits of working life Joe & James were able to provide me with the impetus to take the next step into retirement which could have been delayed without quality financial advice. Dr. Kevin Adams Self Funded Retiree
  • Professional practice to be admired Joe & James' professional practice is to be admired. They are always there for his clients when needed. They freely pass on their expert knowledge without hard product selling techniques. Dr. Elspeth Mckay Associate Professor
  • Personal advice for complex lives Stephan Independent Advisory took the time to understand our situation & tailor their advice & solutions to our specific needs which, being a business owner, can be quite complex. Paul Marsh - Principal P2 Group - Business Owner
  • Family centered advice We have moved our investments from being a private client with a major bank to Stephan Independent Advisory in 2018. Since this move, we have been surprised at the depth of understanding encountered from Joe and James about our future plans and their ability to comprehend exactly what we wish to achieve. Mr Graham and Mrs Judith McKnight Self Funded Retirees
  • Values aligning with our own Clear, timely and direct responses in all areas of communications are outstanding. Meetings are planned and run efficiently to deliver on all our expectations. The firm’s values align to our own so that trust is readily established. Mr John and Dr Kim Watty Self Funded Retirees

It’s Never About Money

Whether you have significant financial resources and question the meaning of success or if you’re wondering whether being that little bit wealthier will make you happier this is the podcast for you.


Stephan Independent Advisory
Private Wealth Management
Suite 506, 1 Princess Street, Kew VIC 3101