Houston wealth management adviser weighs in on benefit options as key for small business success

guest column

Small businesses need to factor in employee benefit options from day one — and this Houston expert has some tips. Photo via Getty Images

While Small Business Appreciation month has come to an end, my work in aiding small businesses achieve financial success is continuous.

In 2009, I began my career as a financial adviser recently co-founded Volante Integrated Planning, a Houston-based office of Northwestern Mutual focused on comprehensive financial planning and helping clients achieve financial freedom.

After years of working with business owners, and as a small business owner myself, I have learned the importance of offering benefits that help attract and retain talent, foster improved work habits and provide a foundation for growth. According to the annual SHRM employee benefit survey, health-related benefits and retirement plans were ranked the two most important benefits for employees. Whether you are a new small business owner or an established one, it is important to be aware of the benefit options available to you and the considerations that go into mapping out a benefits strategy.

1. Retirement plan options

The most common retirement plans available to small business owners are 401(k), simplified employee pension (SEP) IRA and savings incentive match plan for employees (SIMPLE) IRA. The SEP IRA and SIMPLE IRA provide employers the ability to save on a pre-tax basis. While there are some required contributions on behalf of any full-time employees, the SEP and SIMPLE IRA’s are often recommended for the self-employed or businesses with part-time or contract employees. The 401(k) also provides employers with a pre-tax savings opportunity and the ability to save on a Roth basis. Because a 401(k) requires additional administration and ongoing requirements, it is often a valuable tool for business owners who have more full-time employees.

2. Health care benefit options

According to the Affordable Care Act, companies with fewer than 50 employees are not required to provide health insurance. However, offering a competitive health insurance benefits package is an increasingly important strategy to help boost both new employee acquisition and retention. Following the global pandemic, health benefits have become increasingly important. According to a study by McKinsey & Company, 51 percent of employers now offer health care benefits to attract new employees with dental, vision, and short-term disability as the most important for job-seekers.

Not only are these benefits of importance to employees, they provide protection for business owners by ensuring good health and protection from illness-related lost productivity. Some health care benefits available to small business owners include health reimbursement accounts, where you make contributions to an account that can be used by employees to pay for individual health insurance policies acquired on their own. Consider hiring a broker, benefits consultant or financial adviser to help compare your options.

3. Life and disability insurance options

As a small business owner, you have a duty to your family, employees and business partners. It is often the unexpected that can derail the success of a business. To that extent, taking the steps to ensure you and your business are protected if you are unable to work is important. Disability insurance is a versatile product that can be used to protect you, as the owner, and your employees against loss of income due to the inability to work. Additionally, disability overhead coverage and disability buy-out insurance can protect the business and any business partners from an owner’s disability, ensuring that the business can still run smoothly. Life insurance is also important, and often required if seeking a business-related loan, to provide income replacement for your family and any business partners in the event of an owner’s death.

4. Get creative with your benefit options

The small business world is ever changing, which is why it is essential — and sometimes difficult — to keep up with benefit options. I encourage small business owners to get creative with their benefit options by exploring a professional employer organization (PEO) and a multiple employer welfare arrangement (MEWA). PEO is designed to help small businesses manage their administrative overhead, benefits and compliance duties. Through MEWA, small businesses are able to collaborate on group insurance benefits for a low cost. Lastly, if your family members contribute to your small business, make sure they are on the payroll and eligible for various benefits. This may allow you to increase the benefits your household takes home.

While creating a small business employee benefits plan can be tedious, it will take your small business to the next level. Consult in a CPA, business attorney, and financial adviser to help navigate what benefits are a good fit for you and your small business.

----

Jennifer Steil is principal and wealth management adviser at Volante Integrated Planning, a private client group at Northwestern Mutual.

From Your Site Articles
This week's roundup of Houston innovators includes Stuart Corr of Pumps & Pipes, Trevor Best of Syzygy, and Jennifer Steil of Northwestern Mutual. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from clean energy technology to financial planning — recently making headlines in Houston innovation.

Stuart Corr, executive director of Pumps & Pipes

What do Houston's three key industries — aerospace, medicine, and energy — have in common? Pumps and pipes, Stuart Corr explains. Photo via pumpsandpipes.org

Stuart Corr, executive director of Pumps & Pipes, and his team are gearing up for the organization's big annual event — which is returning to its in-person capacity. Though most people would not connect the dots on what all the health care, energy, and aerospace industries have in common, but for Stuart Corr, the connection is clear. It's all a bunch of pumps and pipes.

The Houston organization was founded in 2007 to strengthen the collaboration across Houston's three key industries. The city has NASA down the street, the world's largest medical center, and is regarded as the "energy capital of the world." Through the Pumps & Pipes network, innovators across these entities can share resources and collaborate.

"Pumps & Pipes is all about our network — about innovation on demand. It's the idea that we understand what's in other people's toolkits and innovation and technology portfolios," Corr says on this week's episode of the Houston Innovator Podcast. "Ideally, we want to use these new technologies to solve our own problems."

The event is on December 5 at the Ion. Tickets are on sale now. Read more.Read more.

Trevor Best, co-founder and CEO of Syzygy Plasmonics

Syzygy Plasmonics has raised a series C round of funding. Photo courtesy of Syzygy

Houston-based Syzygy Plasmonics closed a $76 million series C financing round led by New York-based Carbon Direct Capital.

The investment funding raised will help the company to "further development and delivery of all-electric reactor systems that eliminate fossil-based combustion from chemical manufacturing and reduce the carbon intensity of hydrogen, methanol, and fuel," per a news release.

"Closing this fundraising round with such strong support from financial and strategic investors and with commercial agreements in hand is a signal to the market," Syzygy Plasmonics CEO and Co-Founder Trevor Best says in the release. "Forward-thinking companies have moved beyond setting decarbonization goals to executing on them. Syzygy is unique in that we are developing low-cost, low-carbon solutions to offer across multiple industries." Read more.

Jennifer Steil, wealth management adviser for Northwestern Mutual

In observance of Women’s Entrepreneurship Day on November 19, a Houstonian shares her four key considerations for women who want to start their own businesses. Photo courtesy

Saturday was Women’s Entrepreneurship Day, and one Houston-based financial planner shared some tips and considerations for aspiring female founders.

In her guest column for InnovationMap, Jennifer Steil, financial planner for Northwestern Mutual, explained the importance of authenticity and advice on building the right team and support network.

"Being a female business owner has its challenges, but it is also extremely rewarding. If you’re considering starting your own business, it’s important to remember to stay true to yourself and do your due diligence to prepare for whatever unique challenges may be thrown your way," she writes. Read more.

In observance of Women’s Entrepreneurship Day on November 19, here are four key considerations for women who want to start their own businesses. Photo via Getty Images

Houston expert: 4 things female founders should know before starting a business

guest column

Almost four years ago my business partner and I started Volante Integrated Planning, a Houston-based office of Northwestern Mutual focused on comprehensive financial planning. I always aspired to run a business; however, I knew there were many factors to consider before making that leap.

According to the 2022 Northwestern Mutual Great Realization survey, 24 percent of respondents say they want to start a new business in the next two years. While starting your own business sounds appealing, leaving your current job and becoming an entrepreneur can be a difficult transition — and it’s no secret that women have to approach our career paths differently than men.

As I recognize there is no one-size-fits-all approach to starting and managing your own business, I wanted to share a few valuable lessons and key takeaways that I learned from my own experience:

1. Seek advice and counsel

When it comes to starting your own business, it’s important to go through the proper financial and legal steps. In order to do this, there are three people you should consider developing a relationship with. The first is a financial planner who can assist you in growing your business by creating a budget and finding ways to leverage your current assets to set you up for long-term success. The second is a Certified Public Accountant who has experience in your industry to help you navigate the unique intricacies of being a business owner. Lastly, an attorney who can help you draw up the necessary documents and think through what needs to be included to protect you and your family.

2. Build your team

You will always need a support system and business team to lean on no matter how much experience you have in your industry or in running a business. I knew early on that I wanted to partner with someone to make it more fun and add higher value to our clients. Before launching our business partnership, we went through varying business cycles together to ensure we would mesh well, from a value standpoint, both financially and personally. This business “courtship” is critical to ensure you build the kind of trust needed. It is also important to develop the culture and values you want for your business first and choose partners or team members that align with those values.

3. Don’t be afraid to be authentic

People are drawn to authenticity rather than if you try to fit into a box, which is why it’s important to stay true to yourself in all aspects of your business. By being your true, authentic self, you can put a plan in place to start a business that is a reflection of your values and morals. If being a working mom is a part of your identity, don’t be afraid to make that known to the team. There is nothing that says you have to start a business a certain way, so make it yours and own it.

4. Give yourself grace

As women, we have a tendency to want to do it all, but it’s important to give yourself grace and be intentional with how you prioritize your time. There are certain life factors and considerations that ultimately influence how women prepare for their financial futures, especially when it comes to running a business. If starting or managing your business is the priority at the time, it’s OK to let your social life or fitness routine, for example, take the back burner for a period of time.

Being a female business owner has its challenges, but it is also extremely rewarding. If you’re considering starting your own business, it’s important to remember to stay true to yourself and do your due diligence to prepare for whatever unique challenges may be thrown your way.

------

Jennifer Steil is a Houston-based Northwestern Mutual wealth management adviser.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Tech giant Apple doubles down on Houston with new production facility

coming soon

Tech giant Apple announced that it will double the size of its Houston manufacturing footprint as it brings production of its Mac mini to the U.S. for the first time.

The company plans to begin production of its compact desktop computer at a new factory at Apple’s Houston manufacturing site later this year. The move is expected to create thousands of jobs in the Houston area, according to Apple.

Last year, the Cupertino, California-based company announced it would open a 250,000-square-foot factory to produce servers for its data centers in the Houston area. The facility was originally slated to open in 2026, but Apple reports it began production ahead of schedule in 2025.

The addition of the Mac mini operations at the site will bring the footprint to about 500,000 square feet, the Houston Chronicle reports. The New York Times previously reported that Taiwanese electronics manufacturer Foxconn would be involved in the Houston factory.

Apple also announced plans to open a 20,000-square-foot Advanced Manufacturing Center in Houston later this year. The project is currently under construction and will "provide hands-on training in advanced manufacturing techniques to students, supplier employees, and American businesses of all sizes," according to the announcement. Apple opened a similar Apple Manufacturing Academy in Detroit last year.

Apple doubles down on Houston with new production facility, training center Photo courtesy Apple.

“Apple is deeply committed to the future of American manufacturing, and we’re proud to significantly expand our footprint in Houston with the production of Mac mini starting later this year,” Tim Cook, Apple’s CEO, said in the news release. “We began shipping advanced AI servers from Houston ahead of schedule, and we’re excited to accelerate that work even further.”

Apple's Houston expansion is part of a $600 billion commitment the company made to the U.S. in 2025.

Houston energy trailblazer Fervo taps into hottest reservoir to date

Heating Up

Things are heating up at Houston-based geothermal power company Fervo Energy.

Fervo recently drilled its hottest well so far at a new geothermal site in western Utah. Fewer than 11 days of drilling more than 11,000 feet deep at Project Blanford showed temperatures above 555 degrees Fahrenheit, which exceeds requirements for commercial viability. Fervo used proprietary AI-driven analytics for the test.

Hotter geothermal reservoirs produce more energy and improve what’s known as energy conversion efficiency, which is the ratio of useful energy output to total energy input.

“Fervo’s exploration strategy has always been underpinned by the seamless integration of cutting-edge data acquisition and advanced analytics,” Jack Norbeck, Fervo’s co-founder and chief technology officer, said in a news release. “This latest ultra-high temperature discovery highlights our team’s ability to detect and develop EGS sweet spots using AI-enhanced geophysical techniques.”

Fervo says an independent review confirms the site’s multigigawatt potential.

The company has increasingly tapped into hotter and hotter geothermal reservoirs, going from 365 degrees at Project Red to 400 degrees at Cape Station and now more than 555 degrees at Blanford.

The new site expands Fervo’s geologic footprint. The Blanford reservoir consists of sedimentary formations such as sandstones, claystones and carbonates, which can be drilled more easily and cost-effectively than more commonly targeted granite formations.

Fervo ranks among the top-funded startups in the Houston area. Since its founding in 2017, the company has raised about $1.5 billion. In January, Fervo filed for an IPO that would value the company at $2 billion to $3 billion, according to

Axios Pro.

---

This article originally appeared on EnergyCapitalHTX.com.

11 Houston researchers named to Rice innovation cohort

top of class

The Liu Idea Lab for Innovation and Entrepreneurship (Lilie) has named 11 students and researchers with breakthrough ideas to its 2026 Rice Innovation Fellows cohort.

The program, first launched in 2022, aims to support Rice Ph.D. students and postdocs in turning their research into real-world ventures. Participants receive $10,000 in translational research funding, co-working space and personalized mentorship.

The eleven 2026 Innovation Fellows are:

Ehsan Aalaei, Bioengineering, Ph.D. 2027

Professor Michael King Laboratory

Aalaei is developing new therapies to prevent the spread of cancer.

Matt Lee, Bioengineering, Ph.D. 2027

Professor Caleb Bashor Laboratory

Lee’s work uses AI to design the genetic instructions for more effective therapies.

Thomas Howlett, Bioengineering, Postdoctoral 2028

Professor Kelsey Swingle Laboratory

Howlett is developing a self-administered, nonhormonal treatment for heavy menstrual bleeding.

Jonathan Montes, Bioengineering, Ph.D. 2025

Professor Jessica Butts Laboratory

Montes and his team are developing a fast-acting, long-lasting nasal spray to relieve chronic and acute anxiety.

Siliang Li, BioSciences, Postdoctoral 2025

Professor Caroline Ajo-Franklin Laboratory

Li is developing noninvasive devices that can quickly monitor gut health signals.

Gina Pizzo, Statistics, Lecturer

Pizzo’s research uses data modeling to forecast crop performance and soil health.

Alex Sadamune, Bioengineering, Ph.D. 2027

Professor Chong Xie Laboratory

Sadamune is working to scale the production of high-precision neural implants.

Jaeho Shin, Chemistry, Postdoctoral 2027

Professor James M. Tour Laboratory

Shin is developing next-generation semiconductor and memory technologies to advance computing and AI.

Will Schmid, Electrical and Computer Engineering, Postdoctoral 2025

Professor Alessandro Alabastri Laboratory

Schmid is developing scalable technologies to recover critical minerals from high-salinity resources.

Khadija Zanna, Electrical and Computer Engineering, Ph.D. 2026

Professor Akane Sano Laboratory

Zanna is building machine learning tools to help companies deploy advanced AI in compliance with complex global regulations.

Ava Zoba, Materials Science and Nano Engineering, Ph.D. 2029

Professor Christina Tringides Laboratory

Zoba is designing implantable devices to improve the monitoring of brain function following tumor-removal surgery.

According to Rice, its Innovation Fellows have gone on to raise over $30 million and join top programs, including The Activate Fellowship, Chain Reaction Innovations Fellowship, the Texas Medical Center’s Cancer Therapeutics Accelerator and the Rice Biotech Launch Pad. Past participants include ventures like Helix Earth Technologies and HEXASpec.

“These fellows aren’t just advancing science — they’re building the future of industry here at Rice,” Kyle Judah, Lilie’s executive director, said in a news release. “Alongside their faculty members, they’re stepping into the uncertainty of turning research into real-world solutions. That commitment is rare, and it’s exactly why Lilie and Rice are proud to stand shoulder-to-shoulder with them and nurture their ambition to take on civilization-scale problems that truly matter.”

View All Listings