Roots Salon and Wellness Spa pulled in the most votes. We wanted to thank everyone who made a nomination, and that took the time to vote for their favorite business.

Be on the look out, we will be announcing a date for the award presentation towards the end of the month.

Small Business

Small businesses are so important to the growth of our community, and we wanted to do our part as a small business to recognize some of their efforts.

Runner Up:

In addition to Roots we also had a close second place vote winner. Just Pizzelles. We hope that you will take a look into these 2 businesses, as well as explore and support all of the great hidden gems of our valley. It doesn’t take a big name business to make a big impact.

The post Roots Salon and Wellness Spa first appeared on Moliterno Insurance & Financial Services.

The post Roots Salon and Wellness Spa appeared first on Moliterno Insurance & Financial Services.

If you have not already voted please head over the the voting page and cast your vote for your favorite small business, to represent the Mahoning Valley. Businesses were nominated last month by our clients and fans, and voting will be open until the end of January.

Check out the current results and help out your favorite business by sharing the voting page or this email.

• Aebischer’s Jewelry Inc. 2
• Bake Me Treats 1
• BodyGoodies 1
• Branch Street Coffee Roasters 5
• Coccas Pizza Poland 2
• Coffee Shop at Ridgewood 2
• Ed Miller Signs 4
• Ghossain’s Bakery 0
• Ivory & Birch 0
• Just Pizzelles 66
• Komara Jewelers 0
• Maid in the steel valley 7
• McMurray Electric LLC 2
• Roots Salon & Wellness Spa 0
• Scarsella’s Italian Restaurant 0
• Spruce Home Decor 29
• Stone Fruit Coffee Co 3
• Sweet Arrangements Florist 0
• Sweets by Christine 0
• The Cafe at Wittenauer’s 9

The post Voting Now Open for Small Business 2020 Award first appeared on Moliterno Insurance & Financial Services.

The post Voting Now Open for Small Business 2020 Award appeared first on Moliterno Insurance & Financial Services.

In part of our ongoing series to help promote small businesses, and the positive impact they have on the local community, we also want to highlight some of the pitfalls that can come there way.

Imagine that tomorrow you went to visit your favorite local business only to find out that they closed down because the owner had retired, died or become disabled yesterday. Many businesses close for one of theses reasons, not because they want to, but because they failed to plan for one of theses events.

Some of the questions the business owner can ask themselves, would you want your business interest:

• Retained for a family member
• Sold to another owner
• Liquidated

Depending on the desired outcome these are some of the issues to consider.

Retain the Business Interest for Your Family

• Is there a capable and willing family member?
• Will the family member be acceptable to any other business owners?
• How will you or your surviving dependents replace the income previously provided by your business?
• Is there a need to equalize inheritances among family members?
• Will there be enough liquidity in your estate to pay taxes and other settlement costs?

Sell the Business Interest

• To whom will your business interest be sold?
• At what price?
• And at what events (death, disability and/or retirement)?
• What is the value of your business interest?
• Will the funds be available to complete the purchase at your death, disability and/or retirement?

Liquidate the Business Interest

• What is the value of your business as a going concern?
• How does that value compare to the liquidation value of your business?
• How will you or your surviving dependents replace the income previously provided by your business?
• Will there be sufficient funds available to allow for a planned liquidation?

The objective of business continuation planning is to assist you in evaluating which of these alternatives is most suitable for your situation and to help provide the funds that will be needed to assure that your business continuation goals become a reality.

If you know a small business, or own a small business that could use help navigating some of these questions please reach out and schedule an appointment with one of our professional agents.

The post BUSINESS CONTINUATION Pitfalls and Planning first appeared on Moliterno Insurance & Financial Services.

The post BUSINESS CONTINUATION Pitfalls and Planning appeared first on Moliterno Insurance & Financial Services.

Small Business Saturday Is right around the corner and we are excited to bring back our Small Business award for 2021!

Last years award winner was Roots Salon, We are looking forward to awarding the 2021 business of the year!

We will take nominations for our 2021 Small Business Award. Nominations can be made here from now till the end of 2020. Everyone that makes a nomination will be entered into a random drawing for a $50 gift card. Public voting will begin in January.

Current Nominations include:

Help us by recognizing the hard work and dedication on one of your favorite small businesses.

Small Businesses:

• Employee local workers
• Contribute to the local economy
• Owned by friends and neighbors
• Keep a pulse on the local community

The post Small Business Nominations first appeared on Moliterno Insurance & Financial Services.

The post Small Business Nominations appeared first on Moliterno Insurance & Financial Services.

It is our goal to help service all of our clients navigate the confusing questions surrounding their insurance coverage. Please enjoy our interview with the Youngstown/Warren Regional Chamber.

If you have questions about your insurance, or would like to find out more please feel free to schedule a review with our staff.

We offer a wide array of coverage, including Homeowners insurance, Auto Insurance, and Life Insurance.

Please feel free to call us with any questions. Contact us

The post Regional Chamber Take 5 Interview first appeared on Moliterno Insurance & Financial Services.

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DAVID MOLITERNO – OWNER, MOLITERNO INSURANCE & FINANCIAL SERVICES has earned the Financial Services Certified Professional^® (FSCP^®) designation from The American College of Financial Services. The FSCP^®program provides product and skills training as the foundation for career-long learning that helps advisors and agents succeed in their careers.

Candidates for the FSCP^®designation must complete a designation exam as well as a series of individual course exams to earn the right to use this mark. Designees must also agree to adhere to The College’s continuing education and ethics requirements. The curriculum addresses such topics as product solutions for meeting client needs, ethics and practice standards, available government programs, retirement planning, practice management, financial and estate planning, long-term care, business insurance, healthcare and much more. Students completing the FSCP^® designation are well prepared to offer practical guidance to help their clients navigate the intricacies of insurance and financial planning.

David Moliterno FSCP^® and his staff use their skills and expertise to help best server their clients needs, and to assist in navigating the difficult life decisions that help bring a strong and secure financial future. With a multi-line approach, they can help with Asset Protection with solutions such as Home/Auto/Business insurance, and Wealth Accumulation with the use of Life insurance and financial platforms.

About The American College of Financial Services

The American College of Financial Services was founded in 1927 and is the nation’s largest nonprofit educational institution devoted to financial services. Holding the highest level of academic accreditation, The College has educated one in five financial advisors across the United States and offers prestigious financial planning designations such as the Retirement Income Certified Professional (RICP^®), Chartered Life Underwriter (CLU^®), Chartered Financial Consultant (ChFC^®), Wealth Management Certified Professional^® (WMCP^®), and education leading to the Certified Financial Planner (CFP^®) certification. The College’s faculty represents some of the foremost thought leaders of the financial services profession. For more information, visit TheAmericanCollege.edu

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The post DAVID MOLITERNO EARNS FSCP® appeared first on Moliterno Insurance & Financial Services.

There are FOUR ways to fund a buy-sell plan at an owner’s death:

1. Cash Method

The
purchaser(s) could accumulate sufficient cash to buy the business
interest at the owner’s death. Unfortunately, it could take many years
to save the necessary funds, while the full amount may be needed in
just a few months or years.

2. Installment Method

The
purchase price could be paid in installments after the owner’s death.
For the purchaser(s), this could mean a drain on business income for
years. In addition, payments to the surviving family would be dependent
on future business performance after the owner’s death.

3. Loan Method

Assuming
that the new owner(s) could obtain a business loan, borrowing the
purchase price requires that future business income be used to repay
the loan PLUS interest.

4. Insured Method

Only
life insurance can guarantee that the cash needed to complete the sale
will be available exactly when needed at the owner’s death, assuming
that the business has been accurately valued.

If you had died or become disabled yesterday, who would own and manage your business today?

The purpose of this newsletter is to provide information of general interest to our clients, potential clients and other professionals. The information provided is general in nature and should not be considered complete information on any product or concept described.

For more complete information, please contact my office at the phone number above.

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