Business Planning

Integrated business and personal planning

Comprehensive business planning strategies

Transition may be inevitable for every business—but every business has a unique path to follow. We understand the importance of integrating your personal goals and finances with your business performance, so you can feel confident in exiting on your own terms.

A Business Planning Checklist
What's your vision for the future?

Strategic business planning begins with an examination of your current and future goals. Alongside your CPA, attorneys and other advisors, these steps can help ensure your business and personal plans are fully integrated.

  • Define your vision for your personal life and business
  • Assess the financial health of your business through an informal valuation
  • Evaluate your personal financial health to identify gaps
  • Consider options and strategies to grow or exit your business
  • If growing, create a plan to drive business value and improve future marketability
  • If exiting, explore options to sell or transfer your business
  • Build a transition plan and communicate regularly with partners, employees and stakeholders

Martin's Distribution and First Citizens Wealth

Martin's Distribution and First Citizens Wealth video

Martin's Distribution: Preserving a family legacy for generations

Martin Prieto, CEO, Martin's Distribution: When we started our business, we hoped to build a better future for our family. We didn't always know how we were going to get there.

First Citizens Wealth™ x Martin's Distribution: Meeting your ambition at every stage

Martin: Our team at First Citizens helped us grow and improve our business in many ways. We started working with Juan first. Juan connected us with the Wealth team. They showed me a really clear picture of where we stand financially.

Allen Lockwood Jr, SVP, Wealth Consultant, First Citizens Wealth: We sat down with Martin, asked him very specific questions. You know, "Hey, Martin, do you know what the value of your business is? Is it as healthy as the business can possibly be? Are you putting the right processes and people in place to help drive the value of that business?"

So through our business advisory services, we conducted a business assessment. I think it was very eye opening for Martin. It allowed him to really dig in and implement some different strategies. As a result, we helped them increase their market share and increase the value of their business.

Martin: First Citizens Bank helped me see there are more things we can do so our hard work pays off for generations to come. As we follow their advice, I feel more secure about our family's future.

First Citizens Wealth™

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About the Entities, Brands and Services Offered: First Citizens Wealth™ (FCW) is a marketing brand of First Citizens BancShares, Inc., a bank holding company. The following affiliates of First Citizens BancShares are the entities through which FCW products are offered. Brokerage products and services are offered through First Citizens Investor Services, Inc. ("FCIS"), a registered broker-dealer, Member FINRA and SIPC. Advisory services are offered through FCIS, First Citizens Asset Management, Inc. and SVB Wealth LLC, all SEC-registered investment advisors. Certain brokerage and advisory products and services may not be available from all investment professionals, in all jurisdictions or to all investors. Insurance products and services are offered through FCIS, a licensed insurance agency. Banking, lending, trust products and services, and certain insurance products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, and an Equal Housing Lender, and SVB, a division of First-Citizens Bank & Trust Company.

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Our Approach
A three-part assessment

Every business goes through the transition process, and planning with the end in mind is a critical strategy—regardless of your business stage.

How prepared are you to step away from your business?

We'll help you define your goals for life after the sale and support you with a range of financial solutions, including strategies to preserve your legacy and protect your assets.

How are your business and personal finances connected?

Together, we'll analyze your personal and business finances to define your unique income needs in preparation for your transition. We'll help you stress test your retirement plan, guide you through tax-advantaged strategies and review your asset allocation and risk tolerance.

How prepared is your business for your transition?

An informal business assessment and valuation can provide a strong foundation to build the attractiveness of your business. We'll help you explore opportunities to increase valuation, review next-level management retention approaches and discuss unique gifting and transition strategies aligned with your larger goals.

Business Planning FAQ
People often ask us

While every situation is unique, the process can take anywhere from 6 to 12 months. We'll start with a few in-depth discussions, then move into a cycle of implementing changes we've identified and reviewing opportunities to adjust.

As a business owner, your personal and company finances are complex—and intertwined. Understanding your personal goals post-exit can help you define what a successful financial transition looks like to you and provide confidence as you enter the next stage of life.

Business Owner Interest Insights
A few insights for business planning

Business Owner Interest

Do You Know What Your Business is Worth?

Learn the critical elements that can help you determine the current and future value of your business when considering a sale.
If you're considering the sale of your company, these eight factors may help you arrive at an equitable valuation in the short term.
Business Owner Interest

Preserving One Family's Legacy

Martin Prieto and his family built their business through hard work. Now, First Citizens is helping them preserve it.
Prieto started his own business to be a part of the community while building a legacy for his family.
INTEL

Will a New IRS Focus Impact Your Business?

Learn how the recent focus affects income derived from pass-through business entities.
The IRS has committed substantial new resources specifically to increase auditing of pass-through entities.
Explore more business owner interest insights

Links to third-party websites may have a privacy policy different from First Citizens Bank and may provide less security than this website. First Citizens Bank and its affiliates are not responsible for the products, services and content on any third-party website.

This material is for informational purposes only and is not intended to be an offer, specific investment strategy, recommendation or solicitation to purchase or sell any security or insurance product, and should not be construed as legal, tax or accounting advice. Please consult with your legal or tax advisor regarding the particular facts and circumstances of your situation prior to making any financial decision. While we believe that the information presented is from reliable sources, we do not represent, warrant or guarantee that it is accurate or complete.

Third parties mentioned are not affiliated with First-Citizens Bank & Trust Company.

Your investments in securities and insurance products and services are not insured by the FDIC or any other federal government agency and may lose value.  They are not deposits or other obligations of, or guaranteed by any bank or bank affiliate and are subject to investment risks, including possible loss of the principal amounts invested. There is no guarantee that a strategy will achieve its objective.

About the Entities, Brands and Services Offered: First Citizens Wealth™ (FCW) is a marketing brand of First Citizens BancShares, Inc., a bank holding company. The following affiliates of First Citizens BancShares are the entities through which FCW products are offered. Brokerage products and services are offered through First Citizens Investor Services, Inc. ("FCIS"), a registered broker-dealer, Member FINRA and SIPC. Advisory services are offered through FCIS, First Citizens Asset Management, Inc. and SVB Wealth LLC, all SEC registered investment advisors. Certain brokerage and advisory products and services may not be available from all investment professionals, in all jurisdictions or to all investors. Insurance products and services are offered through FCIS, a licensed insurance agency. Banking, lending, trust products and services, and certain insurance products and services are offered by First-Citizens Bank & Trust Company, Member FDIC, and an Equal Housing Lender, and SVB, a division of First-Citizens Bank & Trust Company. icon: sys-ehl

For more information about FCIS, FCAM or SVBW and its investment professionals, visit FirstCitizens.com/Wealth/Disclosures.

See more about First Citizens Investor Services, Inc. and our investment professionals at FINRA BrokerCheck.