Just because you are not an expert on Employee Stock Ownership Plans (ESOPs), it doesn't mean you have to avoid suggesting what could be an ideal solution for certain business owner clients.
As I wrote last month, ESOPs can help business owners diversify their portfolio by converting business ownership into liquid assets that can be invested elsewhere. ESOPs also provide an exit strategy and generate assets needed for a liquid retirement.
The ESOP creates significant cross-selling opportunities for financial professionals who bring the idea to clients. But you may be stalling on the concept because you don't know much about ESOPs.
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