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Tom Meaglia, ChFC®, AEP®,

CLU®, CRPC®, MSFS

Chartered Financial Consultant

Investment Advisor Representative

Chartered Retirement Planning Counselor

CA Insurance Lic. #0567507

 

Meaglia Financial Consulting

2105 Foothill Blvd., #B140, La Verne, CA 91750

 

Toll Free: 800-386-3700

Bus:         909-593-6105

Cell:         818-681-8600

Fax:         909-593-6120

 

Email: tom@meagliafinancialconsulting.com

Website: www.meagliafinancialconsulting.com

May/June 2026

Building a Successful Partnership

Business, people and hand stack in office for team building, solidarity and trust with motivation. Staff, scrum and hands together in circle for collaboration, employees unity and huddle with synergy

Entering into a business partnership requires more than just sharing good ideas. For the partnership to succeed, partners must collaborate on decisions about the business's structure, financing, and conflict resolution.


On the Same Page?
Initially, you and your partner should discuss your visions for the business. This might include a timeline for growth and potential changes in the business over time. Shifting goals and priorities could require restructuring responsibilities and compensation later on.


Where Will the Money Come From?
Partners should talk about funding sources for the business and strategies for raising money in the future. While taking out a business loan might be a good option, both partners need to agree on it. Sometimes, one partner might have the personal resources to loan money to the business. Partners should agree on the terms and create a repayment plan.


Choosing a Business Structure
Review the potential options for structuring your business. An LLC, S corporation, and C corporation each have their own advantages and disadvantages. Your tax and legal professionals can help you choose the best business structure for your specific situation. Also, consider whether your business will be structured so that partners share expenses equally and profits are divided based on each partner's contributions.


What if Partners Disagree?
Differences of opinion are inevitable, so having a plan to resolve disagreements is helpful. You might choose to appoint one partner to make the final decision or let each partner have the final say in their area of expertise, then come together to decide on all major financial decisions.


Make Sure You're Covered
Partners should obtain an umbrella insurance policy that provides liability, property, and casualty coverage. Coverage for errors and omissions also protects you from claims of mistakes in professional services. Key person life insurance is typically purchased on the life of the owner(s) or another essential employee. The company is the beneficiary and uses the proceeds to cover the costs of hiring and training a replacement for the deceased person or to pay off debts and close the business.


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Thomas Meaglia is an Investment Adviser Representative of Coppell Advisory Solutions LLC, dba, Fusion Capital Management, a registered investment adviser that only conducts business in jurisdictions where it is properly registered, or is excluded or exempted from registration requirements. Registration as an investment adviser is not an endorsement of the firm by securities regulators and does not mean the adviser has achieved a specific level of skill or ability. The firm is not engaged in the practice of law or accounting.
Insurance and annuity products are not sold through Fusion Capital Management. Fusion does not endorse any annuity or insurance product, nor does it guarantee any insurance or annuity performance. Annuity and life insurance guarantees are subject to the claims-paying ability of the issuing insurance company. If you withdraw money from or surrender your contract within a certain time after investing, the insurance company may assess a surrender charge. Withdrawals may be subject to tax penalties and income taxes. Persons selling annuities and other insurance products receive compensation for these transactions. These commissions are separate and distinct from Fusion's investment advisory fees.
Meaglia Financial Consulting and LTM Marketing Solutions, LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Marketing Solutions, LLC, an unrelated third party. Articles are not written or produced by the named representative.

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