Do you have a favorite business? Is there a guy, gal, or family of business owners that just “gets you”? Every town has its “Best in Category” business awards that people rely on. In the Wilmington Star News, for example, they have their annual “Best of Shore Picks.” Good businesses are the result of good business owners who listen to their customers and put in the work to make their business an integral part of the community. But what happens to that business when the owner is ready to retire?
We are always seeking new sources of knowledge, continuing our own education, and gaining experience through shared best practices from other industry professionals. In this way, we maintain the overall focus and goal of (1) helping you, your family, and other owners realize the value of your efforts, (2) take our personal and professional financial plans to the next level, and (3) be prepared for whatever comes next!
In that vein, I’d like to announce that I’ve recently completed the Certified Exit Planning Advisor (CEPA©) Program to serve better the needs of our clients and the local businesses you love.
My goal with this certification, as with all the educational skills accumulated over time, is to help our clients and strengthen their communities.
By working together, we can help owners reap the benefits of a long career by being ready to transition their business and, as a result, realize a higher value for that business. While many business owners see value in what they’ve created, realizing the highest possible value can be difficult. Preparation for a successful transition takes time, money, and effort and is not something you can leave to chance or save for the end run. We believe that with the CEPA certification, we can be a key piece of an experienced, integrated team that can help you leave nothing on the table when you’re finished.
What excites me about becoming a CEPA is that I have even more tools, methods, and approaches to help local business owners accelerate value and improve transition outcomes when that time comes. Beyond that, this experience confirmed that collaboration among advisors is crucial to achieving optimal outcomes.
This is personal to us. After all, we are business owners ourselves. Our financial planning practice, made up of families, individuals, and businesses, will end up being the single biggest piece of our own retirement plans. By helping our clients create and realize value over time, we are able to do the same in our own business as well. One of the most satisfying elements of being a financial planner is that we find ourselves on the same side of the table as our clients; our best interests are aligned with one another, and we are each seeking the same financial goals. Isn’t that the way it should be?
Not all of our clients are business owners, but all our clients know business owners in the community. Let your favorite business know we’re here to help and we’ll start the planning process with them as soon as they are ready. Readiness is the first step towards value acceleration and ultimate realization. We can help with that.
Jonathan Tait, CFP®, CEPA®, CPFA
Senior Wealth Advisor, RJFS