The Evolving Landscape of Exit Planning

The field of exit planning is rapidly maturing in response to the increasing number of privately-held baby boomer business owners seeking to transition their companies and fulfill their retirement objectives. This industry transformation has broadened the options available to business owners when contemplating the next phase of their businesses and personal lives. However, choosing the most suitable advisor, and advisory team, for this pivotal transition remains a critical decision.

The Challenge with Traditional Advisors

Many business owners turn to their existing advisors, a practice that can present challenges. Traditional advisors often lack specialized exit planning training, restricting their ability to guide clients through the complete process. Consequently, business owners are left to navigate this complex terrain independently. For instance, a CPA may provide insights on tax-efficient transaction structures, they might not offer assistance in assessing post-retirement income requirements. Similarly, wealth managers can design sale proceeds plans but might not possess the knowledge to mitigate post-transaction risks. Attorneys can support sale diligence preparation but may not accurately determine your business’s valuation.

The Vital Role of Certified Business Exit Consultants^®

In the realm of exit planning advisory, the expertise and offerings of exit planning advisors can vary widely. Some advisors can introduce business owners to fundamental exit planning concepts, helping them initiate their considerations in this area. However, only a select few can translate these concepts into a comprehensive and actionable exit plan. Moreover, they can connect business owners with specialized resources, such as ESOP attorneys, management compensation experts, or M&A advisors, to execute the plan effectively.

Introducing Certified Business Exit Consultants^®

Certified Business Exit Consultants® (CBEC^®s) stand as the most experienced, best-supported, and extensively trained exit planners available today.

To attain this distinguished designation, every CBEC^® holder demonstrates their exit planning competence by crafting and delivering an exit plan to a business owner. The written exit plan undergoes peer review at the IEPA’s offices, and the candidate completes a corresponding interview process before being granted this prestigious mark. CBEC^® holders are required to keep their designation in good standing by completing ten (10) hours of continuing education each year,  maintaining a membership in the IEPA, and abiding by the The International Exit Planning Association’s (IEPA) Code of Ethics and Core Values set forth in the the Standards of Conduct and Directives for those who have completed the requirements and who have achieved the CBEC® Designation.

In addition to practical experience, CBEC^® candidates complete over 30 hours of reading, study, and online coursework, encompassing critical topics for delivering exit plans to business owners. They also participate in facilitated study groups. CBEC® candidates are required to pass a comprehensive four-hour, one-hundred-question examination at the conclusion of their training.

On average, CBEC^® holders boast 20 years of professional advisory or consulting experience, ensuring a wealth of practical knowledge. The CBEC^® classes draw from a diverse range of advisors and consultants, including business consultants, part-time CFOs, attorneys, CPAs, financial advisors, valuation experts, merger and acquisition advisors, and other professionals who consult with private-held owners. This diversity provides a unique and comprehensive learning experience, allowing CBEC^®s to address a wide spectrum of needs for business owners.