Buy-Sell Agreements Protect Businesses Post Key-Employee Death

Cindy Chiellini is a Lexington, South Carolina, financial professional who has more than three decades of industry experience. As a Centaurus Financial registered representative, Cindy Chiellini provides services designed to meet clients’ specific objectives and risk tolerances. Areas in which her team has extensive knowledge include insuring small businesses through buy-sell agreements.

A contract made between various parties within a business, the buy-sell agreement represents a plan for involved persons to buy out the portion owned by a member who becomes disabled or dies. The agreement can also provide protection in case revenue is lost and cover expenses associated with bringing someone on board as a replacement. There are two primary ways of structuring buy-sell agreements: stock-redemption and cross-purchase.

A stock-redemption agreement is a formal contract undertaken between the business and key employees. Under this arrangement, the business is the party that acquires the stock of named individuals when they become deceased. The key employees sell the stock that they own in return for cash value.

Common among smaller companies, the cross-purchase agreement is one in which key employees within a business individually take out policies one another. This provides each of them with the opportunity of acquiring ownership interest from any member who is no longer able to function in a leading capacity due to disability or death.

Securities and advisory services offered through Centaurus Financial, Inc. Member FINRA and SIPC, a Registered Investment Advisor. Centaurus Financial, Inc. and Cola Wealth Advisors are not affiliated companies. Please visit Cola’s website for more information: https://www.colawealthadvisors.com/.

Doberman Assistance Network Seeks Forever Homes

Illustration drawing style of dog

A registered representative with Mantei and Associates, a branch of Centaurus Financial DBA Cola Wealth Advisors, Cindy Chiellini assists with management of client assets. In 2009, Cindy Chiellini founded a dog rescue called Brokendobe Rescue of South Carolina, which has placed more than 70 dogs in adoptive homes and is currently caring for several dogs in hospice.

Operated by a group of friends committed to rehabilitating and placing Dobermans in loving, new homes, Brokendobe Rescue often works with the Doberman Assistance Network (DAN), which was established in 2007 when its founders noticed how many Dobermans were sitting in shelters facing euthanasia. The organization partners with local rescues and shelters across the United States, helping coordinate veterinary visits, transportation, and fostering in order to offer Dobermans a second chance at life with loving families. DAN vets rescue groups to assure they are safe and reputable, in addition to raising funds to help find foster homes and eventual permanent placements for Dobermans.

Conditions Improve for America’s Shelter Pets

Leading registered sales associate Cindy Chiellini dedicates much of her personal time to her nonprofit organization, Brokendobe Rescue of South Carolina. Since Cindy Chiellini opened the shelter’s doors, more than 70 dogs have been rescued and placed in homes. Thanks to the work of shelters and animal welfare organizations, outcomes for shelter animals have greatly improved over the past decade.

The combination of numerous spay and neutering campaigns, increased awareness of animal behaviors, and the rise of no-kill shelters, shelter-surrendered animals are more likely to be adopted than euthanized. Low-cost spay clinics have also significantly reduced the number of unwanted animals.

On the other end, a growing awareness of the plight of shelter animals has driven the demand to adopt rather than buy pets. In an effort to help animals find homes, no-kill shelters now often send pets across state lines. In this way, states with larger shelter animal populations can find homes in areas with a higher demand for adoptions.

The Series 7 License – An Introduction

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A registered sales associate in South Carolina, Cindy Chiellini helps client management their assets at Mantei & Associates. She has worked for the company for more than two decades, having accepted the role from positions as such companies as Robinson Humphrey and Paine Webber. Alongside her hands-on experience in the finance sector, Cindy Chiellini also holds a Series 7 license.

Administered by the Financial Industry Regulatory Authority (FINRA), the Series 7 is a license and exam that grants holders the ability to sell most types of securities products. This entry-level registration is also known as the General Securities Representative Qualification Examination and is designed to test a professional’s knowledge of corporate securities, investment company securities, variable annuities, and direct participation programs. The Series 7 does not qualify professionals to sell futures or commodities.

A required license for entry-level brokers and registered representatives, the Series 7 exam can only be taken after candidates pass the Securities Industry Essentials (SIE) exam. This tests a candidate’s knowledge of the securities industry and common securities products and their associated risks. The Series 7 test consists of 125 questions, of which professionals must get 72 percent correct. Some states also require that professionals earn a Series 63 license in addition to the Series 7 before they begin selling securities.