If there are two or more shareholders in your business, you may worry about what happens to those shares should one owner die.
What will their family do with those shares? Will they use them wisely? Will they end up in a dispute with the surviving shareholder?
Engage Wealth Management can help you avoid this precarious, and rather awkward, situation by arranging a Shareholder Protection plan.
Shareholder Protection Insurance is designed to ensure that the remaining shareholders maintain control of the business in the event that an owner dies, or, in some policies, is critically ill.
The policy ensures you take control over the deceased’s shares and receive a payout with which you can compensate the deceased’s family.
If you think you might need a policy like this, then it’s worth arranging a call with one of our highly qualified advisers at Engage Wealth Management. Our independent experts will explain clearly how the policy would work for you and at what price point, leaving you to make the final decision.
Arrange a free discovery call with our FCA-regulated shareholder protection experts to find out how we can help: [email protected] or 01273 076587
The sudden loss of one of your shareholders could cause serious financial and operational challenges for both the company and the remaining shareholders.
By getting the right Shareholder Protection cover in place, you can ensure business continuity by accessing the funds needed to buy back shares, protect ownership structure, and avoid potential disputes.
Engage Wealth Management’s highly qualified and experienced advisers will establish whether it’s the right option for you. We take the time to understand your business, answer your questions, and guide you through the process step by step.
We’ll start by establishing your needs, including the number of shareholders at your company, the value of the business, and the level of coverage required.
You’ll have plenty of opportunity to quiz our experts about how shareholder protection works and learn more about the support we offer.
If you’re ready to proceed, we’ll begin sourcing the most suitable shareholder protection policies for your situation. We’ll do the hard work of liaising with insurers and negotiating the most favourable arrangements for your business.
As independent financial advisers, we can often negotiate better terms than would ordinarily be available. You’ll receive a recommendation based on our in-depth knowledge of the income protection market.
You will be given as much time as you need to make a decision and we’ll be there to answer any further questions you have about the policy.
Once you decide to proceed, we’ll set up the shareholder protection policy with the insurer and handle all the paperwork on your behalf. Medical questions will need to be completed by the covered shareholders, and we’ll guide you through the underwriting process. Once the policy is accepted, we’ll provide a full recommendation report before implementation.
We’ll continue to support you throughout the life of your policy, including assistance with claims if the cover ever needs to be used.
You can contact us at any time to review your shareholder protection policy and ensure it continues to meet the needs of your business as it grows or changes.
“We have been with Oliver and his team for the last 5 years. The service is outstanding, the knowledge and the advice are 5-stars.”
As well as being experienced in arranging Shareholder Protection Insurance for clients, our advisers carry all the relevant industry qualifications, including the Diploma for Financial Advisers (DipFA) and Diploma in Financial Planning (DipPFS) from LIBF and the CII respectively. Our advisers also hold qualifications in mortgages, equity release, long-term care and Pension Transfer Specialist (PTS) qualifications.
The many positive comments and reviews we regularly receive from our clients is perhaps the best evidence of our expertise.
“We recently set up a new business. Oliver was very helpful and made it very clear what we needed to do to protect our futures.”
“I have used the services of Oliver and Engage for a number of years and have always found them to be very professional… I thoroughly recommend them.”
Engage Wealth Management helped arrange Shareholder Protection Insurance for two directors at an aircraft delivery company. They required the policy to buy out shares held by the other director’s spouse if either one of them died.
They were both pilots, which meant their profession was considered a high-risk job, and many insurers wouldn’t offer them payouts if they died in certain countries.
“Some insurers are willing to cover more countries than others,” said Luke Comerford, Financial Adviser at Engage Wealth Management. “So, it was a case of first checking with each insurer to see which ones would cover all the countries that the directors would be travelling to.”
It was important to immediately establish which insurers would consider covering them as it would require full medical underwriting – which is a lengthy process. That time would be wasted if they were then denied cover at the application stage.
“Once we’d established which insurers would provide cover, we then approached the one who would offer the most comprehensive coverage both in the UK and abroad.”
The end result was that both directors received comprehensive Shareholder Protection cover, so that should the worst happen, the surviving directors could purchase the shares from the deceased’s loved-ones and safeguard the future of their business.
Engage Wealth Management featured in VouchedFor’s Top Rated Financial Adviser Guide, as published in The Times and The Telegraph. We’ve also featured in Sussex Business Times (SBT), Citywire, Financial Planner Life podcast and Fund Your Retirement podcast.
Are you looking to find affordable shareholder protection? Contact our professional advisers at Engage Wealth Management via the contact form below.
Engage Wealth Management is authorised and regulated by the Financial Conduct Authority. Registered in England and Wales Company no. 13010558 Registered Office: 1a City Gate, 185 Dyke Road, Hove BN3 1TL FCA Firm Number: 942618 To visit the FCA consumer website, The Money Advice Service please click here https://www.moneyadviceservice.org.uk/en. To visit the Financial Ombudsman Service, please click here https://www.financial-ombudsman.org.uk/
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