There are three primary choices a business owner has when thinking about succession, as illustrated in this image. Bank of the West Logo SAN FRANCISCO, Jan. 26, 2016 /PRNewswire/ — Bank of the West announced today the publication of Smooth business loan broker Transitions: Three Steps for Wholesaler Succession , a paper by Kristin Nelson, head of Private Business Owner Solutions at Bank of the West Wealth Management Group. The paper highlights ways business owners may navigate toward their desired succession plan. Over the next 15 years, the youngest of America’s Baby Boomers will turn 65 and waves of wholesaler business owners across the country will get ready to cash out. As wholesalers begin to consider a succession plan, the paper provides considerations to help them choose a path suited to their legacy planning and retirement income goals. The paper, a collaboration between Bank of the West’s Small and Mid-Size Enterprise Banking Group and Wealth Management Group, integrates business banking and wealth management solutions to help address the needs of business owners transitioning their businesses.
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