Key Person

Every business operating today has key people that help it remain successful and profitable. Although most businesses insure their property and profits, few think to insure their most precious assets—the men and women whose experience, talent and judgment contribute substantially to the financial success of the business. Loss of a key person can adversely affect the business’ earning potential and will cause expenses related to finding his/her replacement.

  • Typical losses associated with losing a key person include:
    • Loss of management experience and leadership;
    • Loss and disruption in production;
    • Loss of credit rating for business; and
    • Loss of capital that is now required to find a replacement.
  • Closely held businesses are particularly at risk since there are typically one or two people whose skill and contacts make the business profitable.
Successful people make a habit of doing what unsuccessful people are unwilling to do.
Holly L. Hullum
Private Client Division
The best time to plan is before you have to. If you wait until you have to plan, you are reacting and not planning, and your options are very limited.
Stephen Hull MBA, RFC
Registered Financial Consultant
Our firm philosophy is simple: protect assets, grow wealth & live well.
William E. Watson III
Registered Financial Consultant President General Agent
All well managed portfolios hold defensive reserves.
Harlan W. Wiese RFC LUTCF CLTC
Private Client Division Brokerage Manager
The success of a financial strategy is often more dependent on its systematic nature than its rate of return.
Kurt G. Poetschke
Private Client Division
Compound interest is good, compound taxation is bad.
Registered Financial Consultant Managing Partner - Denton