Short answer
We work with owners of trades and professional-services businesses worth under $20 million who have a private equity offer, hold rollover equity, or have already sold and need to plan the proceeds. We are most useful when the price is large enough that a few points of allocation or a QSBS question matter, and when there is a real choice about rollover, state residency, charitable giving, or how to invest a lump sum and replace lost income. We are not the right call for a small all-cash sale with nothing to plan around, and we are not a substitute for a transaction attorney or a CPA.
Key facts
- Who we work with
- Owner-operators, roughly 45 to 65, businesses worth $3M to $20M, in trades or professional services.
- Best time to call
- With an unsigned letter of intent, or in the first year or two after closing.
- What we do
- Term-sheet and allocation review, QSBS and rollover analysis, and the post-sale plan for the proceeds, the rollover, and the low-tax years.
- What we do not do
- Legal work, tax return preparation, valuation opinions, or deal negotiation. We work alongside the people who do.
- How we are paid
- Fee-only. A flat fee for a review or a plan; an asset-based fee for ongoing management, which is a conflict we disclose plainly.
Three situations where we are useful
You have an offer and an unsigned letter of intent
Before exclusivity, the allocation between goodwill and the non-compete can be negotiated, the rollover terms can be requested, the structure can be confirmed, and any QSBS question can be settled while it still matters. We review the term sheet with your attorney and CPA, model the after-tax outcome under the buyer's draft and under what you should ask for, and give you a short list of what to negotiate and what to let go. The case study shows what that looked like for one owner.
You hold rollover equity and want a plan that does not depend on it
Whether you closed last year or three years ago, a rollover position is a large, illiquid, subordinated bet on a second sale that may take years. We build the household plan so it works if that position is worth zero, plan the tax on the second sale before it arrives, and look at whether gifting some of the units while their value is low makes sense for your estate. See managing rollover equity.
You have already sold and have a lump sum to put to work
This is where much of the value is. We work out how much income the portfolio needs to replace, build the diversified core to produce it, plan Roth conversions for the low-tax years rather than the sale year, sort out the retirement accounts, and keep the rollover as a separate speculative piece. See I sold, now what.
Who we work with most
Owner-operators between about 45 and 65 whose business is worth $3 million to $20 million, in the trades and professional services private equity is rolling up: HVAC, plumbing, electrical, IT managed services, accounting, insurance agencies, marketing, and consulting or staffing. Many are first-generation liquidity, selling the only business they ever built, without an existing sophisticated advisor. Some are younger owners weighing whether to sell now or keep building; their questions are different and just as important.
Who does not need us
- An owner receiving a small all-cash offer under about $1.5 million with no rollover and no QSBS question. A transaction attorney and your CPA are the right team, and a planning engagement may not pay for itself.
- A seller in a no-income-tax state whose plan is simply to retire on a diversified portfolio they are comfortable managing, with a good CPA for the return.
- A seller whose deal is signed, all cash, with no rollover and no move to plan around. What remains is a CPA question about timing and estimated payments.
- Anyone who wants a valuation opinion, a fairness opinion, or someone to negotiate the deal. Those are banker and attorney roles.
If you are in one of these groups and call anyway, we will tell you on the first conversation, and there is no charge for that conversation.
How we work and how we are paid
Qubera Wealth Management is a fee-only fiduciary registered investment advisor. We do not receive commissions, referral fees from buyers, bankers, or attorneys, or any payment tied to whether your deal closes. A term-sheet review or a post-sale plan is a flat-fee engagement scoped in advance. If you later choose ongoing investment management for the proceeds, that is charged as a percentage of assets, which means we earn more when you invest more with us; that is a conflict of interest, described in Form ADV Part 2A. We coordinate with your attorney and CPA rather than replacing them, and we do not provide legal or accounting services. The firm is based in Los Angeles and works with clients in many states. To start, use the contact page.
Questions people ask
I have an offer I have not signed. Is that the right time?
Yes, for the deal side. The allocation, the rollover terms, the structure, and any QSBS question can still change before exclusivity starts. Once the purchase agreement is signed, most of the tax outcome is fixed, though the post-sale plan is still fully open.
I already sold. Is it too late to get value?
No. The after-sale years are where much of the value is for an owner: investing the proceeds, managing the rollover, using the low-tax years for Roth conversions, and replacing the income the business paid. Charitable planning is usually closed once the sale is done, but almost everything else is still open. See I sold, now what.
Do you replace my attorney or CPA?
No. You need a transaction attorney to negotiate the documents and a CPA to prepare the returns and sign off on positions like QSBS eligibility and the material participation exclusion from the net investment income tax. Our job is to make sure the household's after-tax outcome and the money afterward are being planned by someone whose fee does not depend on the deal closing.
Do you work outside California?
Yes. Qubera is a registered investment advisor and works with clients in many states. State tax rules differ, and the deal and post-sale planning apply everywhere.
When will you tell me I do not need you?
When the price is small and all cash, when there is no rollover and no QSBS question, and when your plan is simply to retire on a diversified portfolio you are comfortable managing with a good CPA. We will say so on the first call, and there is no charge for it.