Ep 44. 831(b)/Captive Insurance Plans: Love & Scrutiny With Guest Van Carlson
Release Date: 10/22/2021
The Family Biz Show
Episode 100 - Resilience & Rhythm in Rochester Family Business In this special 100th episode, Marc Iacona shares his journey in the family business, Simcona Electronics, and the evolution of the company from a distributor to a manufacturer. He discusses the challenges and growth of the business, as well as the transition from the first to the second generation. Marc also talks about the process of buying out his partners and becoming the sole owner of the company, the genesis of the Rochester Jazz Fest and how he manages both organizations. Don’t miss this one and share it...
info_outline Ep 99. Letting Go to Grow Your Family BusinessThe Family Biz Show
Episode 99. Letting Go to Grow Your Family Business In this episode, co-owner of CosmosCorp Derrik Kassebaum shares his unique story of entering the family business, the history of it and how “letting go” was what ultimately revolutionized his business and his life. He also highlights the significance of having a clear core purpose and values in guiding the business, the importance of communication and humility and about the learning and growth opportunities in family business, emphasizing the impact of books like 'Good to Great' and 'How the Mighty Fall’ and the...
info_outline Ep 98. Adapting to Survive; How Businesses Can (and should) Utilize AIThe Family Biz Show
Ep 98. Adapting to Survive; How Businesses Can (and should) Utilize AI In this episode, guest Anthony DeSimone of You’re The Expert Now talks about the use of AI, specifically ChatGPT, in family businesses. Anthony shares his background and journey to becoming an AI expert and they discuss the importance of AI in business and how family businesses can utilize ChatGPT to improve communication and productivity. They explore various use cases for ChatGPT, such as editing emails, generating social media content, and transcribing meetings and emphasize the need for businesses to...
info_outline Ep 97. 200 Years of Sweet Treats and Survival in Family BusinessThe Family Biz Show
Episode 97. 200 Years of Sweet Treats and Survival in Family Business In this episode, Janice Jucker of Three Brothers Bakery takes us on a fascinating journey, from the bakery's humble beginnings in Poland 200 years ago to its current status as a beloved Houston institution. She shares the inspiring story of her aunt Jenny, who saved her three brothers from the Nazis during World War II, and how these brothers later founded the bakery in Houston in 1949. We discuss the importance of understanding insurance policies and having proper coverage, as well as the need for cash reserves...
info_outline Ep 96. A Legacy in Motion; Dylan’s Journey from Agriculture to TransportationThe Family Biz Show
Episode 96. A Legacy in Motion; Dylan’s Journey from Agriculture to Transportation We had the pleasure of talking to Dylan Rexing*, CEO of Rexing Companies. We discussed the evolution of Dylan's family business from agriculture to transportation, the complexities of working with family, and the growth from a small team to a company with nearly 100 employees. Dylan shares his journey from reluctant bookkeeper to a CEO focused on serving his employees and the importance of hiring good people. We also explored the significance of culture, leadership development, and the use of...
info_outline Ep 95. Brewing Up Success: Turning Coffee into a Family EmpireThe Family Biz Show
Ep 95 - Brewing Up Success: Turning Coffee into a Family Empire In this episode of the Family Biz Show, we sat down with Lisa Smoot* from San Francisco Bay Coffee. Lisa, who is a regular listener of our podcasts on her incredible daily commute, shares the incredible journey of her family's business, from a bankrupt company to a thriving $200 million enterprise. Lisa opened up about her personal experiences of entering the family business and the challenges they faced along the way, the company's strong partnership with Costco and how it has contributed to their growth and her...
info_outline Ep 94. From Bricks to Community Engagement in a Multi-Generational Family BusinessThe Family Biz Show
Ep 94 - From Bricks to Community Engagement in a Multi-Generational Family Business On this episode of The Family Biz Show, Andy Breuer from Hueber-Breuer Construction Company. Andy shares his journey of joining the family business and the company's 151-year legacy and we discuss the importance of maintaining a good reputation, the significance of company culture, and the role of managing a construction business. Andy highlights several community-oriented projects and the company's focus on sustainability, succession planning, leadership development,...
info_outline Ep 93. The White Brothers' Recipe for Family Business ResilienceThe Family Biz Show
Ep 93 - The White Brothers' Recipe for Family Business Resilience In this episode of The Family Biz Show, we sat down to talk to twin brother owners Eric & Scott White of Denver Machine, a family business started by their great grandfather in 1910. The brothers share their journey into the business, their outside experiences, the company's growth and diversification into various industries, and the challenges they faced, including a severe recession and a lawsuit threat. The brothers also share their future priorities, the benefits of being part of a CEO roundtable group, and the...
info_outline Ep 92. Reflection, Swim Lanes & Visual Hammers: The Keys to Success in Family Business BrandingThe Family Biz Show
Ep 92. Reflection, Swim Lanes & Visual Hammers: The Keys to Success in Family Business Branding In this episode of The Family Biz Show, Agency 29 owner Maureen Ballatori joins us to discuss branding and marketing in family businesses. Maureen shares her background and journey into the world of branding, emphasizing the importance of clear communication and articulating a family business's value proposition. We explore the process of helping family businesses bridge the gap between generations and the role of brand strategy in adding clarity and direction. The conversation also...
info_outline Ep 91. The Power of Vulnerability & Authenticity in Family Business LeadershipThe Family Biz Show
Ep 91- The Power of Vulnerability & Authenticity in Family Business Leadership Ben Brandstetter from Brandstetter Carroll joins us on this episode of The Family Biz Show to share his personal journey and how he joined the family business after obtaining his professional engineering license, the importance of succession planning and exit strategies for business owners, the challenges faced during the COVID-19 pandemic and the significance of vulnerability and authenticity in leadership. We also enjoyed dispelling misconceptions about family-owned businesses and the...
info_outlineEp 44: 831(b)/Captive Insurance Plans: Love & Scrutiny
During this episode, we’ll discuss the 831(b) plans with expert Van Carlson* of Strategic Risk Alternatives, including:
- Why the IRS recently sent out a “soft warning” letter to 831(b) plans and
what it means for Captives. - Risk Management utilizing tax code 831(b).
- How an 831(b) can help businesses weather economic downturns.
- When a Captive Insurance Company is NOT right for your business.
This Weeks Guest
VAN CARLSON*
Founder & Chief Executive Officer of Strategic Risk Alternatives
Van Carlson* is the Founder & CEO at Strategic Risk Alternatives. SRA believes small and mid-size businesses are the lifeblood of the American economy. The 831(b) Plans we administrate are meant to ensure these businesses weather the storm.
We care deeply about the financial security of our clients and their businesses. Our talented and motivated team strives to provide creative, quality, well-designed plans to address the varying needs of the clients we serve.
Van has twenty five years of experience within the risk management industry. Van began his career with Farmers Insurance Group as an agent; eventually growing his book to be among the largest in his home state of Idaho. Van’s primary goal is to continue the upward growth of SRA and continue to develop new products to bring to market.
You can learn more about Strategic Risk Alternatives on their website 831b.com or visit them on Facebook, Instagram, Vimeo, YouTube and LinkedIn.
----------------
*Not affiliated with Lincoln Financial Advisors Corp.
Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp. Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies.
Family Wealth and Legacy LLC is not an affiliate of Lincoln Financial Advisors Corp.