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/.
Cindy Chiellini 
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