HWM Insights

A letter of intent sets a price, a structure, and a timeline. The confidentiality and exclusivity terms in it usually bind. The economics usually do not, and diligence, negotiation, and closing adjustments can change... >>

The S&P 500 gained 2.3% in the third quarter and is up 12.7% for the year. The headline return was modest. The forces driving markets were not. The Federal Reserve raised rates for the first time since 2023. The... >>

Next Wednesday, the Federal Reserve may raise interest rates, and the futures market now puts the probability at roughly 70 percent. If you have been waiting for cheaper financing, or deciding how long to keep money... >>

Private equity has discovered the plumber, the HVAC contractor, the veterinarian, the accountant, and the wealth manager. Firms that spent decades chasing software and healthcare are now paying serious multiples for... >>

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There are three different numbers attached to a business owner's interest when that owner dies. The first is what the buy-sell agreement requires the buyer to pay, whether that buyer is the company or the surviving... >>

Selling a business is usually treated as a tax event. But the harder questions are rarely about tax. They are about whether your family could actually step in, whether the income they depend on survives the... >>

The second quarter handed us a war, a new Federal Reserve chair, and the strongest three months for U.S. stocks since 2020. The S&P 500 returned 15.2 percent. If you had known in advance how it would all play out, a... >>

When business owners begin thinking about a potential sale, most of the attention naturally goes to valuation, deal terms, and taxes. But one of the most important planning questions is whether their estate plan... >>