On Monday, Shares of KeyCorp (NYSE:KEY), subtract -0.16% and closed at $12.15 in the last trading session. The last trading range of the stock ranges between $12.06 and $12.22. Key Private Bank, the wealth administration arm of KeyCorp (KEY), recently released the results of its most recent advisor poll, which examines how the decisions business owners make can impact their wealth in retirement. The poll surveyed 137 Key Private Bank client-facing advisors who specialize in working with business owners to navigate exit strategies, manage succession planning and prepare for retirement.
“Whether navigating family dynamics, finding it difficult to let go or making unrealistic assumptions about a company’s valuation, business is often very personal,” said Francis Brown, Wealth Specialist at Key Private Bank. “For business owners, the most common wealth administration pitfalls result from emotional ties to their company. That’s why it’s extremely important for business owners to be candid with their financial advisors early on about all aspects of their lives.”
The findings reveal that business owners, particularly lifestyle business owners, can have competing interests when it comes to planning for the future of their company and ensuring their personal long-term financial well-being. Three-quarters (75%) of advisors report business owner clients treat their companies as lifestyle businesses to assist them maintain a certain level of income over the course of their lifetime. In fact, nearly half (44%) of the advisors indicate that clients most often sell their business to monetize their investment or fund retirement. Despite this reality, four in 10 advisors say very few or none of their new business owner clients have thought through the wealth implications of their business succession strategies.
Tying up a majority of personal wealth in the business is the most common wealth administration challenge business owners face, according to more than one-third of advisors. Other common pitfalls for business owners include lacking a administration succession plan and having insufficient savings—both of which can create a need for business owners to work longer to guarantee a certain level of retirement income.
Duke Energy Corp (NYSE:DUK), dropped -1.19% and closed at $79.09 in the last trading session. The last trading range of the stock ranges between $78.53 and $79.84. The company’s Market capitalization is $54.30 Billion with the total Outstanding Shares of 688.93 million. Duke Energy has accomplished its acquisition of Piedmont Natural Gas, closing the transaction effective recently
Piedmont will retain its name and operate as a business unit of Duke Energy. Both companies are headquartered in Charlotte.
The acquisition will add Piedmont’s 1 million natural gas customers to Duke Energy’s existing customer base of 525,000 natural gas customers and 7.4 million electric customers.
“Uniting Duke Energy with Piedmont Natural Gas is a powerful combination for our customers and the communities we serve,” said Lynn Good, chairman, president and CEO of Duke Energy.
Customers can continue to do business with both Piedmont and Duke Energy in the same way they have in the past. For example, there will be no immediate changes in customer service phone numbers, billing options or service request procedures.
Internally, Duke Energy will be working to integrate Piedmont’s corporate functions – such as accounting, human resources and information technology – into Duke Energy’s structure.
The North Carolina Utilities Commission last week approved the acquisition – the final regulatory ruling needed to complete the transaction.
The Tennessee Regulatory Authority and Piedmont’s shareholders formerly approved the transaction, and the United States Federal Trade Commission has already granted early termination of the waiting period under the federal Hart-Scott-Rodino Antitrust Improvements Act.
Cheniere Energy, Inc. (NYSEMKT:LNG), lost -3.42% and closed at $42.11 in the last trading session. The last trading range of the stock ranges between $41.92 and $44.45. During the 52-week trading session the minimum price at which share price traded, registered at $22.80 and reached to max level of $54.95.Cheniere Energy Partners LP Holdings, LLC (“Cheniere Partners Holdings”) (NYSE MKT: CQH) declared recently that its board of directors has received a proposal from Cheniere Energy, Inc. (“Cheniere”) (NYSE MKT: LNG) following which Cheniere would acquire the publicly held shares of Cheniere Partners Holdings not already owned by Cheniere in a stock for stock exchange. Subject to negotiation and execution of a definitive agreement, Cheniere is proposing consideration of 0.5049 Cheniere shares for each issued and outstanding publicly-held share of Cheniere Partners Holdings as part of a transaction that would be structured as a merger of Cheniere Partners Holdings with a wholly-owned partner of Cheniere. The projected consideration represents a value of $21.90 per common share of Cheniere Partners Holdings, or a premium of about 3.0% over the closing price of Cheniere Partners Holdings’ shares, based on the closing prices of Cheniere Partners Holdings’ shares and of Cheniere’s shares as of September 29, 2016, or a premium of about 7.0% over the 30-trading day average CQH / LNG exchange ratio as of September 29, 2016.
Cheniere owns 80.1% of the issued and outstanding shares of Cheniere Partners Holdings.