T. Ray Phillips
Certified Family Business Specialist, Investment Advisor Representative

Originally from Oklahoma, T. Ray’s family’s roots in business extend back to 1889. The challenges his family faced not only created an abundance of knowledge to pass on to his clients, but also fueled his passion for working exclusively with families owning businesses.

“My family’s business, Dawson Produce, grew into a tri-state operation; however, sadly similar to too many, the business could not withstand a transition of ownership. With proper succession planning, the operation as a family business could have survived.”

In 1998, he opened a specialty boutique firm now called Family Business Legacies, LLC. He became the first person in Indiana, and is among 500 nationwide, to successfully complete the Certified Family Business Specialist (CFBS) designation offered through the American College in Bryn Mawr, PA. Additionally, he holds the Accredited Estate Planner (AEP) designation from the NAEPC, as well as, the Chartered Financial Consultant (ChFC) designation and the Graduate Certificate in Business Succession Planning, from the American College.

T. Ray specializes in Business Continuation, Owner Exit Objectives, Leadership Retention, and Total Wealth Transfer Planning for families in business. He operates on the principle that transition and exit planning are akin to the disciplines of law, accounting, and even medicine. His ideal clients are owners in the Manufacturing, Construction, Distribution, Energy, and Agricultural space with revenues of $4m - $50m (his “sweet spot” is $7m-$25m). Most of his owners have over 60% of their wealth IN the business and derive nearly 100% of their lifestyle FROM the business (salary and benefits).

On most weekends, T. Ray and his wife, Tia, can be found watching the Oklahoma Sooners, Chicago Cubs, English Premiere League soccer, and traveling to see his children, Thomas and Audrey, at DePauw University. He also is active in several civic organizations, including the Downtown Indianapolis Kiwanis Club, The Oaks Academy, Broad Ripple Haverford Little League, Indy Phoenix FC, and North Central High School Athletic Boosters.

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