About the Author
Nicole Frey, CFP®
As SRG’s Director of Team Solutions, Nicole Frey, CFP® leads the firm’s Entity Support, Entity Maintenance Program, and Advisor Merger Support services, three of the most essential offerings for protecting and strengthening financial services businesses.
With a background spanning law, financial planning, and project management, Nicole brings clarity and precision to every engagement.
Is Your Entity Ready for the Year-End?
As the year draws to a close, it’s the perfect time to revisit the foundation of your business. A proactive year-end review ensures your entity remains in good standing, mitigates risks, and sets the stage for growth and transition planning in the year ahead. Use this Year-End Entity Maintenance Checklist to confirm that your governance, compliance, and agreements are aligned and ready for what’s next.
Governance & Ownership
- Ownership records – Confirm they accurately reflect current ownership and any transfers.
- Operating and buy-sell agreements – Ensure provisions align with the owners’ current goals and intentions.
- Board or member minutes – Capture key decisions formally to strengthen governance and documentation.
Compliance & Filings
- Annual/biennial filings – Verify Secretary of State filings and deadlines are met.
- Licenses & permits – Confirm all business licenses and permits are current.
- Regulatory requirements – Check for new state or federal rules that affect your business.
Financial & Tax Considerations
- Tax elections – Review entity tax status and elections with your CPA to avoid surprises.
- Estimated taxes – Confirm quarterly payments are accurate and up to date.
- Financial records – Update the entity’s financial statements (P&L & Balance Sheet).
Contracts & Covenants
- Restrictive covenants – Confirm non-compete, non-solicit, and confidentiality provisions reflect current state laws and industry best practices.
- Employment agreements – Update policies in line with legal and operational changes.
- Key contracts – Review renewal dates, termination options, and compliance with obligations.
Risk & Planning
- Insurance coverage – Review for gaps or updates needed.
- Cybersecurity & data protection – Confirm systems and policies are up to date.
- Strategic planning – Evaluate goals, KPIs, and succession plans for the coming year.
Completing this checklist before year-end not only helps keep your entity compliant but also strengthens your business for the future. If you come across an item that could benefit from updates or additional support, reach out to our team — we’re here to help
Take the Next Step:
Access our Entity Health Check Replay + Interactive Scorecard to diagnose the health of your entity. In less than an hour, you’ll gain clarity on where your business is strong, where gaps exist, and what actions you can take now to set up for long-term success.
Whether you’re a boutique RIA or an enterprise firm, SRG is here to support you on your path. Check out more great resources in our resource library here.
