By now, most of us have adjusted to the official start of Daylight Saving Time. Some see this transition as a loss, namely the loss of an hour of sleep on a weekend. I, however, view it as a time of renewal, a time to refresh.
The grass is starting to turn green and trees are budding out. Financial professionals can use this time of renewal and growth as an opportunity to refresh their practices for growth.
Employee Stock Ownership Plans (ESOPs) can be a vehicle to spring ahead for financial professionals. An ESOP is a qualified defined contribution retirement plan that is invested primarily in the stock of the sponsoring company. ESOPs are unique in that they can borrow money which creates a flexible approach for a business owner to sell all or part of their company.
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