Strong Leadership Includes Delegation to Subject Matter Experts
Garret Schulter was the Chief Clinical Officer for a fast growing medical technology company. After 3 years of receiving Restricted Stock, Stock Options and making Deferred Compensation elections, a meeting with Wealth Management Solutions (WMS) led to a conversation about how he made decisions to exercise the options and when to receive his deferred comp.
On his own, Garret had originally made four assumptions:
In discussions with his executive peers, he received confirmation that they had structured their Deferred Comp in a similar manner. Garret's current Financial Advisor was unfamiliar with the tax consequences and did not feel comfortable providing any additional insight; mostly because he could not manage the assets with recommendations for his own investment products.
Multiple Complications Require a Watchmaker's Touch
|Types of Executive Compensation||Reduces Risk||Reduces Current Risk||Reduce Taxes - In Retirement||Early Retirement Age 60|
|Restricted Stock Units||No||Yes||Yes||Yes|
|Health Savings Account||No||Yes||Yes||Yes|
Results: Looking at the Total Package
At Wealth Management Solutions, we have worked exclusively with Fortune 500 company executives to implement complicated Executive Compensation plans in coordination with a client's trusted tax advisor. Our advice strategies surrounding Stock Options, Restricted Stock, Deferred Compensation, and use of Qualified & Non-Qualified Retirement Plans can lead to substantial tax benefits. Ultimately, it may also result in more income for the Executive and their family, while at the same time reducing their risk.
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