Troy Smith, of Wake Wealth Management, gives expert advise on extracting cash from private companies without putting them up for sale.
… For those who want that lump sum,Troy Smith, a financial planner in Durham, N.C., recommends setting up an ESOP, an increasingly popular liquidity option that makes employees of a company stock- holders in the business. According to the ESOP Association in Washington, there are approximately 10,000 ESOPs in the United States, and 90 percent of those are in privately held companies.“It’s a fantastic way for a closely held com- pany to create liquidity for shareholders,” he says. …Troy M. Smith
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