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Case Studies

Jim and Ellen - Business Owners


Jim (42) and Ellen (40) run a very successful business. Sales and profits continue to grow, with most of the profits reinvested back into the business.   As a result, their net worth consists of their primary residence, a beach house, some savings, and the business. They have two children, ages 10 and 8.
Reason for seeking financial advice: They are concerned about the concentration of family wealth in the business. They do not want to get blindsided by something outside of their control that would severely devalue the business and their financial security.
Examples of what Jim and Ellen can expect by engaging Schiavi + Dattani: 
  • An initial review of all significant financial matters, to see if anything needs to be addressed in a timely manner. This review will be followed by the preparation of a more thorough financial plan.  
  • An investment program will be established to build significant financial assets that will compliment their real estate and small business wealth. This will go a long way in providing them with financial peace of mind. Less reliance will be placed on having to sell their business to finance retirement. 


  • Within that investment program, Schiavi + Dattani will explore the use of qualified retirement plans to build investments on a tax deferred basis. This recommendation may also include the use of a Roth 401(k), distributions from which are currently tax free. 
  • Schiavi + Dattani will help Jim and Ellen set up tax favored education expense funding accounts to decrease the out of pocket expense cost of college for their two children.  The use of all available education tax credits and tax deductions will also be explored. 
  • Existing life insurance policies will be reviewed for adequacy of coverage, efficiency of premiums, ownership issues, and beneficiary designations.  
  • Discussions will be held concerning the future of the business. Where do Jim and Ellen see the business in five years, in ten years? Would they want to pass it along to a child? Would they sell if the price was right? Does it make sense for either Jim or Ellen to pursue a career outside the business to diversify family income?


This case study is presented to illustrate the type of financial planning assistance that the advisors at Schiavi + Dattani provide. It is not meant to be all inclusive or to represent the facts and circumstances of any actual client of Schiavi + Dattani. Clients of the firm receive reviews and recommendations unique to their own objectives, resources, and constraints.  


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