Maximizing Your Investment in Your Business

Risk Management, Growth and Succession

All businesses, large and small, are a major investment. Like any investment, your goals for your business are to maximize growth and minimize risk. Meeting these goals can be demanding. As your business grows, let Harris Investment Advisors help you manage the new opportunities, risks and responsibilities that emerge.

Whether you work for yourself, have a small office with a few employees or run a large operation with hundreds, we look at planning from a big picture perspective. Being business owners ourselves, we can recommend ways to help you save money, find money as your business grows, and a variety of other strategies that will help your individual situation.



Processing Consultants, LLC

Processing Consultants is a subsidiary of Harris Investment Advisors; a financial planning firm that assists in reducing monthly business expenses. We set ourselves apart in this industry by acting as a trusted advisor and consultant...not a processor. We are always looking out for the best interest of our clients.

We use the services of various processors that offer businesses secure, web and terminal based credit card and ACH solutions that process millions of transactions a day for a wide variety of industries. Our consulting team has an unrivaled background in designing and implementing electronic payment solutions and we offer other merchant solutions such as:

- Lowest Rates
- Local Support
- Local Service
- Cash Advances(Up to $300,000)
- Check cashing
- ACH Capabilities
- Gift Cards
- ATM Card Processing
- State-of-the-Art Equipment
- Software Solution (POS)
- Wireless Terminals
- Next Day Funding



Managing Risk: Business Insurance & Asset Protection

As a business owner, you know that there are risks to your operation that you can't control. The imbalance caused by a fluctuating economy can pose a threat to even the most established companies. The unexpected loss of employees or assets can cripple your ability to generate revenue. Because there are so many dangers out there, it's crucial that you have a plan in place to protect your investment from the unknown.

To manage your company's risk, Harris Investment Advisors can help you with comprehensive business insurance packages, individual policies and asset protection programs. As Arizona business owners ourselves, we can help you find the proper protection that your business needs to prosper. We know that your company and industry are unique, so we'll identify the programs and policies that will provide the best protection from the specific hazards of your business. Running a business will always be unpredictable, but effective and affordable coverage can limit your vulnerability and allow your business to prosper.



Corporate-Owned Life Insurance

Corporate-owned life insurance (or COLI) is insurance that a company purchases to cover the lives of its employees, with the company named as the policy beneficiary. Harris Investment Advisors offers COLI policies that can protect your business in the event that an employee passes away. COLI can also be used to fund employee benefit programs (though it doesn't have to be). COLI-funded benefits can include options like healthcare coverage for retirees and death benefits for an employee's designated beneficiary. If a COLI policy goes unclaimed, the program can provide cost recovery for your company.

Key Man Insurance

The untimely death of a key employee, executive or owner can have a disastrous effect on a business. To help mitigate the toll such a tragedy could take on your company, we offer key man insurance. Key man insurance is a form of corporate-owned life and disability insurance covering your company's shareholders and/or most critical employees. For small and mid-size business, the loss of an important individual can disrupt operations and diminish marketability. A key man policy can diminish your company's financial losses by covering expenses until a replacement can be found. If the loss results in your business closing, the proceeds can be used to pay off debts, distribute money to investors, and pay severance to employees.

Liability Insurance

As a business owner and a professional, the possibility of a disgruntled client filing a liability lawsuit can never be overlooked. A claim that your business or its employees made a negligent act, error or omission while performing professional services could cost hundreds of thousands of dollars. You could also be held liable if an injury occurs on the premises of your office or facilities. Umbrella liability insurance offers comprehensive protection in the event such a lawsuit arises. Specialty liability insurance — including medical malpractice — offers umbrella coverage to professionals in specialized fields. The type and size of policy you require depends heavily on the specifics of your business and industry; Harris Investment Advisors can help you determine the right policy for your businesses.

Asset Protection

Asset protection can secure the home, property, investments and wealth of a business owner or partner against creditors seeking to recover debt owed by the company. It can similarly protect the assets of a corporation, limited partnership or LLC from creditors pursuing a member. If you are in a profession that leaves you open to the claims of creditors, we can offer asset protection programs in conjunction with partner law firms that will leave you feeling more prepared.

"No matter what your business does, you need some form of insurance, whether it's required by law or used to protect your company and its employees. We can help you decide what needs to be covered and how that coverage should work."

— David Harris, Founder and Principal, Harris Investment Advisors
Contact us to learn more about how we can help you set up your business insurance and asset protection programs.

Succession Planning

No business can survive for long without an able owner or executive making important decisions about the direction of the company. When that key individual is no longer able to make those decisions or steps down without putting a plan in place, the business can be thrown into a state of chaos. Large and small businesses alike can avoid this situation by creating a succession plan.

Unique needs will arise as you plan an exit strategy from your business. Harris Investment Advisors offers proven expertise in analyzing those needs and developing an efficient, effective strategy. Whether you are passing your business on to family members or trusted employees or selling the company to new owners, we can guide you through the complexities of business succession.

Buy/Sell Agreements

A buy/sell agreement is the best way to make sure ownership and shares in a business can be smoothly passed from one individual to another. Harris Investment Advisors can work in conjunction with your attorney to structure an insured agreement where the buyout is funded by life insurance coverage on the parties involved, significantly lowering transition costs.

While the specifics will vary based on your company's needs, there are two basic ways to insure a buy/sell agreement. One is for businesses owners can purchase a life insurance policy for themselves and name the business as beneficiary. Alternatively, a shareholder or member in a partnership can enter into a cross-purchase agreement wherein the surviving partner or partners are the beneficiaries of the policy. Both plans can ensure that a business will retain its liquidity in the event of a member's retirement, disability or death.

"Many business owners approaching retirement don't have a strong plan in place to determine what will happen to their company after they leave. When we help business owners with succession planning, we work to simplify the process and create a more secure financial future for all the parties involved."

— David Harris, Founder and Principal, Harris Investment Advisors
Whether your business is ready for an ownership transition or just starting out, now is the time to plan. Contact Harris Investment Advisors to get started today.

Employee Benefits Programs

They're called "employee benefits," but choosing the right company health insurance plan, retirement plan an other employee programs can benefit a company's ownership just as much as its employees. After all, a happy employee is a productive employee, and a solid benefits plan increases job satisfaction and production. As your businesses grows, your benefits package can also play a role in attracting talented new employees.

Harris Investment Advisors can help you structure a competitive, affordable employee benefits plan. Remember that decisions regarding insurance and benefits affect not just you, but your family, your employees and their families. We can help you decide the best plan of action.

401(k)

Choosing a retirement plan for your business can be intimidating. Harris Investment Advisors can help smooth the process by simplifying each decision you face. After analyzing the situation and needs of your company and your employees, we can help you put the right plan in place. By offering flexible programs and products like the Edelman 401(k) for businesses, we can ensure that your plan will allow you and your employees save a significant amount of money toward your retirement while providing tax advantages at the same time.

Group Health Insurance

Supplemental Protection

Workers' comp and general liability insurance are the foundation of corporate risk management, but we can also help your company with additional insurance to deflect operational risk.

Payroll insurance can provide your businesses with added protection against fluctuating revenues.

Employment liability insurance safeguards your company against discrimination, wrongful termination, harassment suits and more.

Contact Harris Investment Advisors to learn more about these programs and others.

Most business owners make important business decisions every day. Yet when it comes time to make important decisions about health benefits for themselves and their employees, many don't know where to start. Health insurance programs are more affordable and accessible than many business owners realize. If you own a small business (2-50 employees), for example, insurance premiums are 100% tax deductible — and employees cannot be turned down for health coverage because of ongoing or past medical issues and claims. From basic healthcare coverage to prescriptions, Harris Investment Advisors can help you provide excellent and affordable coverage for your business.

Supplemental Health & Other Benefits

Supplemental or ancillary benefits allow employers to offer a substantial benefits program without straining the budget. Offering fully insured or partially self-funded supplemental benefits that go beyond the basics lets your employees know that their employer cares about their well-being. Programs like vision plans, dental plans and additional disability benefits can be a major incentive in employee retention and hiring. Harris Investment Advisors can help your business grow by finding and structuring a strong benefits package while still keeping costs under control.

Contact Harris Investment Advisors to learn more about how we can help your company set up an employee benefits program.