This month our Business Highlight is Jim Schlager from Moss Adams.
Jim Schlager brings over 20 years experience as an entrepreneur helping closely held business owners and high net worth individuals and families manage their business and personal wealth. As a principal with Moss Adams Wealth Advisors, he provides personal financial planning, investment consulting and insurance management and consulting for his clients.
He works closely with business owners in crafting the steps toward transition from active management to successful financial independence, and works with individuals and families to create plans that give context to the financial decisions and investments they make.
We asked him to answer a few of our questions about business and Manhattan Beach. Here’s what he had to say:
How long have you been doing business in Manhattan Beach?
What made you choose Manhattan Beach?
This is a beautiful place with wonderful people. My family has lived here for years and we’re actively involved in the community, so it was a natural transition to begin working with local families, many of whom I consider close friends.
How could we make doing business here easier?
By continuing to bring events such as the South Bay Leadership Summit to our community, we’ll continue to foster innovation and allow business owners who are residents to connect with each other and work more closely together.
How did you engage the community when you first started?
When I first moved to Manhattan Beach, I was the planning commissioner, which allowed me to really understand the local business community. Once my children were born, I wanted to lead a more balanced life, and I wanted to be actively involved in their lives while maintaining my connection to the local business community. I opened an office here so I can coach their sports teams and still have time to go to networking events and connect with other business owners. It’s allowed me to develop some wonderful relationships and spend lots of quality time with my kids and wife.
What would you recommend for prospective business owners?
Business owners traditionally rely on their accountant for advice about their business, but they don’t typically have an advisor who can take a more comprehensive perspective. I think it’s important for all business owners to have someone to act as their quarterback and as a sounding board for all of their financial issues—including the integration of personal, charitable, and business goals; estate and income tax planning; and other matters. So many business owners and their families are very busy, leaving little time to manage these important decisions cohesively. Having the right advisor can help them see the forest for the trees and find greater peace of mind.
What’s your take on the evolving chamber?
The chamber is moving in the right direction, and the leadership is the best it has ever been. As we move forward, getting highly successful business owners who are residents—regardless of whether their business is in Manhattan Beach or not—actively involved is key. Together, we can bring a tremendous amount of value and give back to the community which we all love.