David Scott Sloan is a partner in Holland & Knight's Boston office. He works closely with clients to design and implement sophisticated strategies that are integral to their family wealth planning. High-net-worth individuals, particularly principals of private equity, venture capital and hedge fund firms, executives of private and public companies, entrepreneurs and owners of closely held businesses, regularly turn to Mr. Sloan for advice in all aspects of succession planning and wealth transfer. Mr. Sloan understands the needs of wealthy families and creates plans that address their financial and philanthropic goals while also minimizing transfer taxes.
Special Planning for Private Equity, Venture Capital and Hedge Fund Principals. The unique nature of private equity funds requires specialized planning for the principals of such funds. Implementation of any wealth transfer strategy requires careful attention to the nature of the principal's ownership interest, the fund documents and the waterfall distribution. Mr. Sloan works closely with private equity fund principals to structure transfers involving their carried interests in their funds. Following such transfers, extensive additional planning opportunities are developed that are designed to maximize future wealth transfer while minimizing overall family transfer taxes. Mr. Sloan is often called upon by fund counsel to develop strategies specific to their fund principals and has made several presentations to such groups. Mr. Sloan engages in similar, specific business planning for venture capital and hedge fund principals.
Sophisticated Planning for Executives of Public Companies and Entrepreneurs. Mr. Sloan works at the forefront of the cross-section of wealth transfer and securities rules applicable to public company executives. Planning techniques for these executives who may be designated as "insiders" by the Securities and Exchange Commission (SEC) depends upon sophisticated design and careful implementation. Mr. Sloan balances these complex issues while ensuring that the privacy needs of these high profile individuals are respected.
Family Investment Entities. Family investment entities are designed to expand the investment horizons of its members while providing for business and family succession opportunities. Pooling family assets offers several advantages, including access to investments that would otherwise be unavailable to certain family entities and individuals, centralization of asset management decisions and the resulting reduction of overall investment fees and potential creditor protection. Mr. Sloan creates new entities to accomplish these goals and works with clients' investment advisors to ensure that appropriate investment policies are developed that focus on the overall asset mix, as well as the different investment objectives applicable to a client's taxable and nontaxable estate.
Private Company Succession Planning. A workable succession plan requires considerable development that often evolves over a multiyear period. Succession planning is necessarily an iterative process that requires close interaction between owners of privately held businesses and their advisors. Mr. Sloan guides business owners in designing and implementing a succession plan that balances the current and future needs of the business and the owner. Such coordination is particularly critical where an entrepreneur wants to transfer the business to the next generation but is relying on the ownership interest in the company to fund retirement.
Pre-liquidity Event Planning. Prior to a sale of a business or a major liquidity event, there are several wealth transfer opportunities that should be considered. Such strategies often focus on passing potential wealth to future generations in a tax-efficient manner. Mr. Sloan is often called upon to assist owners of businesses that are embarking upon such transactions to guide them in this critical pre-translation planning process.
In addition to his active practice, Mr. Sloan holds many leadership positions both within the community and at Holland & Knight. Mr. Sloan currently serves as the chairman of the board of trustees of The Boston Conservatory. He is also co-chair of Holland & Knight’s Private Wealth Services Group, the largest trusts and estates practice in the United States. Mr. Sloan is a Deputy Section Leader for the firm's Business Section and served on the firm’s Board of Directors for nine years. During Mr. Sloan's tenure on the Board of Directors, he chaired the Board’s Strategic Planning Committee for over five years. Mr. Sloan is a fellow in the American College of Trust and Estate Counsel (ACTEC) and serves ACTEC as a member of the Massachusetts State Committee.
Mr. Sloan has published numerous articles and has been quoted in several publications, including The Wall Street Journal, The New York Times, Fortune Magazine, Business Week, Inc. Magazine, Financial Planning Magazine, The Boston Business Journal, Private Wealth Management and the New York Law Journal. His opinions have been sought out on a variety of current tax issues and have aired on television and radio.
