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Business Owners

Propelling Your Business Forward

Solutions for Businesses in the Bay and Beyond

As business owners ourselves, we recognize and understand the problems you face. Even more than issues you might face in your industry, you might encounter financial obstacles that can prevent you from focusing on what is most important: delivering the best product to your valued customer. That is where we come in. Our goal is to alleviate the financial stress of owning a business so you are free to focus on your dream and your creation. We do this through providing a complete and comprehensive plan that accounts for your unique goals, the longevity of your business, the retention of your employees and more. We can also help when it comes time to hand the keys to the next generation by laying a simple framework and helping you move into the next stage of your life. This is how we help our business-owning clients.

Business Retirement Plans

Retirement is a landmark moment for any professional, whether it be the business owner or the employees. And it should be. It is an exciting time when you get to start doing what you want to do instead of what you must do, and we believe everyone deserves the chance to pursue that work-free lifestyle. We help business owners by assessing current benefit plans to see if they meet the needs of the employees. If not, we will work to implement an effective plan to relieve the employer of having to do it themselves. Oftentimes, this is a draw for those looking for employment, and it can help you enhance the culture and productivity of your company while ensuring your employees are financially literate and able to comprehend their retirement plan.

Key Person Insurance

Key person insurance has the potential to be an extremely valuable asset and layer of protection for business owners. For example, if you have employees with lengthy tenure, executives, leaders, salespeople, or other major contributors whose absence could spell serious trouble for your company, this type of insurance could prevent bankruptcy by providing an influx of cash. That money can then be used for any purpose. Sometimes that means continuing to run the business in that person’s absence or dedicating funds to replacement with someone you hope to be equally effective as the previous employee. This is just one part of a greater holistic business plan that helps your business press on, even in the face of adversity.

Group
Benefits

Sometimes when running your business, there is just too much to do and not enough time to do it. We help you reclaim control of your business by removing some of that work from your plate and helping you implement systems to recruit and retain. That often includes group benefits plans, such as medical, prescription, dental, vision and telemedicine benefits. We analyze your company’s needs based on your size, budget, goals and desires, then we help you find what we together believe to be the best strategy. We can also help you add benefits like life, accident and disability, giving your employees some peace of mind in the protection of their families if something were to happen to them. We also work with carriers and professional partners who allow us to explore the latest options.

Personalized Funding Plans

While it can be a great idea to keep personal finances and business finances separate, there is no doubt the two intertwine. One of the most notable ways is in the funding and startup of a business. We work with many individuals who earn a high income; however, they also had to earn the education to provide them with that career. Oftentimes, this can saddle those high earners with mountainous debt, a major drawback that can require a personalized repayment plan. For business owners, this can be crucial because those funds might be necessary as capital. We can work with you as both an individual and a business owner to repay that debt as quickly as possible.

Succession Planning

One of the inevitable parts of owning a business is your eventual exit. It can, however, be a headache for unprepared owners who do not have a plan. We remove the stress of creating that plan by building one for you while still allowing you to retain the decision-making power you have become accustomed to. This gives you the ability to ensure your philosophies are upheld at your business and your legacy is protected, even when you are no longer in the CEO chair. We can also assist in the creation of buy/sell agreements, which are contracts that typically use life insurance policies to fund a buyout in the event of a key person’s departure. This offers flexibility for the future of your business while protecting you in the event of the unexpected.

Medical Practitioners

We work with many medical practitioners and understand the unique challenges they face. For example, the average medical student owes more than $200,000. This can be an unthinkable obstacle, especially in an industry in which many start their own practices. We can create a plan to properly allocate your resources and repay that debt. Additionally, as a medical practitioner, you should focus on your patients. We take the stress of running your business off your plate by helping you provide benefits to your staff while still giving you the opportunity to adequately provide for yourself and prepare for the future. We can also help you explore insurance options that could be helpful in the event you lose a key employee or need to sell your practice.

Learn More

Meet the Bay Financial Services Team

At Bay Financial Services, we recognize that the financial services industry is not primarily about money; it is about people.

It is about doing anything we can to help our clients pursue their dreams without worrying about the monetary aspect. That is why we employ a team of not just experienced financial professionals but people who are unwavering in their commitment to making connections and positioning clients for success. Meet our team members below, and learn how they can help you achieve your goals for your future.

Jordan L. Funke

President and Managing Partner

Luke Meseck

Financial Advisor

Corrina Iler

Office Administrator

Contact Us

Are you ready to take control of your financial future?

Contact us today and start working with our team to shore up your personal financial plan as well as your company’s plan for the future. We can seamlessly integrate the two, or help you pursue individual goals to bring you peace of mind, security for your family and confidence in the longevity of your business. Fill out our form below, and we will be in touch shortly!

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Locations – By Appointment Only

1307 Revolution Way
Crownsville, MD 21032-2050

319 SW 5th St., Ste 206
Des Moines, IA 50309

(410) 923-6220
admin@bayfinancialservices.com

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Investment Advisory services offered through O.N. Investment Management Company. Securities offered through The O.N. Equity Sales Company, Member FINRA/SIPC, One Financial Way, Cincinnati, Ohio 45242. (513) 794-6794.