The Right Way to Leave Your Partners
LIKE MANY SMALL-BUSINESS owners, Victoria Collins had much of her retirement savings locked up in her company. In 1990, she co-founded a financial planning firm that later became First Foundation, an Irvine, California–based investment adviser.
Before First Foundation publicly listed its shares, in 2014, Collins and her partners didn’t have a complete formula to buy one another out. She was ready to retire by 2011, but
