Mainebiz

V O L . X X I I N O. V I M A R C H 2 1 , 2 0 1 6 30 W ealth management is often associated with an older client, a retiree or someone close to retirement. Yet Steven E. Tenney, a senior vice president of wealth management and a senior portfolio manager for UBS Financial Services Inc. in Portland, spends his days urging clients (and prospective clients) to tackle the issue early. He is also an expert in succession planning. In a day and age where baby boomers are looking to exit their businesses, owners often face choices like turning a busi- ness over to relatives or children, selling to a third party or selling to employees through such vehicles as a tax-deferred Employee Stock Ownership Plan. Mainebiz sat down with Tenney at his offi ce in One City Center to discuss wealth management strategies and some possible avenues business owners might want to consider. An edited transcript follows. F O C U S At AAA Energy Service, we understand how important it is to have reliable and cost eective HVAC & R systems that keep your equipment at peak performance, and your customers and employees comfortable. To learn more call 207.883.1473 or email info@aaaenergy.com AAAENERGY.COM Building eciency It's what we do HEATING AIR CONDITIONING REFRIGERATION MAINTENANCE DESIGN/BUILD Plastic Surgery Center 195 Fore River Parkway, Suite 140 | Portland, ME 04101 phone: 207.775.1933 | toll free: 800.688.9133 | www.DrVerne.com services: Rhinoplasty Tummy Tuck Breast Augmentation Facial Rejuvenation Spa Services e possibilities are endless... Imagine... Redefine. P H O T O / P E T E R VA N A L L E N Never too early to plan succession Individuals and businesses alike need wealth management help B y P e t e r V a n A l l e n Steven E. Tenney, a portfolio manager at UBS Financial Services Inc., says baby boomer business owners are increasingly grappling with succession issues.

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