NU Online News Service, March 4, 2003, 5:20 p.m. EDT – The Phoenix Companies Inc., Hartford, has unveiled The Business of Wealth, a program for advisors who want to work with successful business owners.
The program can help agents selling to all different types of businesses because it segments businesses by life-cycle stages rather than by industry, according to Walter Zultowski, senior vice president of marketing and market research at Phoenix.
The life-cycle stage “will direct the services needs that a business will likely have,” Zultowski says.
The Phoenix business life-cycle model starts with the Business Entity stage, or the start-up and growth years, when the focus is on creating a successful business. An owner in this stage will need help with attracting and retaining employees, funding personal retirement plans, and basic estate planning.
The second stage, the Business Transition stage, refers to the period when owners need advisors to help them prepare to sell a business or leave it to others.