Using RISR to clarify valuation and protect a $5 million chiropractic practice

Industry

Wealth Management & Financial Planning

Challenge

Greg was helping a three-owner chiropractic practice establish structure, valuation clarity, and adequate protection. The business had never undergone a formal valuation, and its buy-sell agreement and insurance coverage were outdated and underfunded.

Results

By using RISR to define the practice’s true market value and guide key-person and buy-sell funding decisions, Greg helped the owners protect the business and strengthen confidence in its long-term continuity.

thrivent.com

“RISR gave us a foundation for every conversation. It helped the owners see what the practice was actually worth and why protection was so critical. It brought real structure and confidence to their planning.”

Greg Durivage, CFP®

Wealth Advisor @ Thrivent

About Thrivent

Thrivent, a membership-owned financial services organization, helps individuals, families and business owners turn their money into a force for good. With a values-based model and a long-term, people-first view, Thrivent combines financial advice, insurance, investments and generosity-driven solutions so clients can protect what matters most and build meaningful financial futures.

The Challenge

Greg Durivage, a Thrivent advisor, was working with a chiropractic practice owned by three partners: a father, son, and a newer owner who had recently purchased into the business.

For years, the practice had operated without clear structure or documentation. No valuation had ever been completed, insurance funding was outdated, and the buy-sell agreement excluded the new owner entirely. Two of the owners held small policies based on outdated estimates from nearly a decade earlier, and no key-person coverage was in place.

Greg had been working with the newest owner for five years on her personal financial plan. Through that work, deeper questions emerged about the business itself: how its value was determined, whether buy-sell coverage was sufficient, and how ownership transitions would be managed. As those questions went unanswered, Greg was invited to engage the full ownership group to bring structure and clarity to the business.

The Solution

Using RISR, Greg performed multiple valuation scenarios to establish a credible current value of $5 million for the practice and guide the group’s immediate protection planning. The valuation created an objective foundation for every discussion, helping the owners understand the company’s true worth and quantify the funding needed for updated buy-sell and key-person insurance.

With a reliable baseline in place, Greg designed a protection strategy that addressed the business’s most critical risks. RISR also helped the team explore a “goal valuation” scenario: what the owners would need to receive if an unexpected sale occurred at age 50, bridging a potential 10-year retirement gap and emphasizing the long-term importance of proper coverage.

The Results

By using RISR, Greg helped turn a loosely structured business into one with clarity, continuity, and confidence.

Established a credible $5 million valuation for the practice

Defined and executed on funding needs for buy-sell and key-person insurance

Brought structure and accountability with data-backed clarity to business planning discussions