New Data From Raymond James Shows Business Owners Prioritize Unlocking Concentrated Wealth to Pursue New Ventures

Core Insights - A significant 88% of business owners plan to transition some or all of their financial stake within the next decade, indicating a pressing need for comprehensive wealth planning [1][7] - The survey highlights that divesting a business is not merely a transaction but a transformation, necessitating deep strategic planning for owners [2] Asset Concentration - Nearly half (44%) of business owners report that their business accounts for more than half of their personal wealth, with 90% indicating it represents at least a quarter [4] Transition Timeline - Over half (56%) of business owners plan to fully or partially transition their financial stake within the next five years, with 85% having a transition plan in place [7] - The importance of timely personal wealth planning is emphasized, especially for those transitioning within the next five years [5] Growth Capital Needs - A substantial 85% of owners anticipate needing additional capital for future business growth, with various sources considered for this capital [5][8] Future Plans - 35% of owners intend to transition their business to a family member, a figure that rises to 44% among those with businesses valued over $15 million [10] - A notable 30% of owners plan to invest in or acquire a new business after transitioning their stake [6] Future Business Success - Business owners identify external factors such as market expansion (22%) and economic conditions (17%) as critical to future success, while people-centric factors like talent retention (12%) and leadership development (11%) rank lower [11][16]