DO YOU REALLY KNOW YOUR "WALK-AWAY NUMBER"? - KNOW YOUR WEALTH GAP
Effective financial planning starts with the development of goals and objectives around next act visioning, then is supported by financial modeling to determine how full the financial bucket needs to be filled to achieve them. This panel will walk through and discuss a case study and the process to determine a business-owners ‘walk-away’ number, so that the owner(s) can do what it takes to confidently be ready to consummate a successful transition out of their business.
Learning Objectives:
- Understanding the impact a wealth gap has on business transition options
- Identify common knowledge / understanding gaps and likely regrets and pitfalls of not closing them
- Learn how to prepare for and plan around the eventual business transition monetization transaction, and how to "get paid" afterwards
- Building owner confidence for the monetizing "moment of truth', and eliminate the "owner cold feet" element that is so common
Thank you to our Sponsors
Event Details
Who Should Attend?
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Attorneys
You have close relationships with clients, and can benefit from being the first advisor to introduce the idea of exit planning.
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CPAs/Accountants
Owners participating in the State of Owner Readiness research continue to indicate that you are the No. 1 "Most Trusted Advisor." You are a natural fit to lead the exit planning team and deepen your relationship (and retention) of next generation owners.
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Wealth Managers
You’re a skilled relationship person. Being entangled into your clients’ professional lives matters as you build a strategy to manage their wealth upon them harvesting it from their business. Exit planning allows you to build a deeper relationship with your client, expands your COI network, while giving you an early seat at table well before the liquidity event.
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Financial Advisors
One of the critical ‘legs of the stool’ is personal financing planning. An owner must have a strong financial plan & contingency plan post-transition to enable them to thrive in the next act of the lives personally and financially. Exit planning brings this future mindset into the present. Exit is now.
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Valuation Analysts
Valuation is both a billable engagement AND an opportunity to provide owners some perspective on how to accelerate value drivers (and deal with value killers). Use exit planning to make that valuation into a longer term value acceleration engagement.
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Investment Bankers
Only 2 of every 10 businesses that come to market actually sell. Learn how exit planning can bring attractive AND ready business to your purview.
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Estate Planners
Exit planning is a natural fit for estate planners who want to operate more holistically with their owner clients.
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Strategic Consultants
One of the most critical roles in exit planning is building transferable value. Strategic consultants have the ability to expand options and drive rapid business value that affect performance today.
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Insurance Professionals
Exit planning addresses the 5 D's. So do you. Approach the risk conversation differently with exit planning.
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Mergers & Acquisition Advisors
Proper exit planning causes less deals to fall through at the last minute. Connect with CEPAs to build your healthy deal flow network.
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Commercial Lenders
One of the best relationships a business owner makes is with their banker. How can you help your corporate clients think about the future and ensure financial continuity? Answer: exit planning.
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Family Business Advisors
More than 50% of lower middle market business owners would prefer to transition to the next generation. Help them succeed with exit planning strategies.
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Other Professional Advisors
Regardless of your unique specialty, there is seat at the exit planning table for you. Learn more at www.EarnCEPA.com.
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Private Business Owners
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Members of Family Business Boards
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Professional Advisors
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Business Consultants
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Other Business Professionals
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Business Owners
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Business Owners & Their Trusted Advisors
EXIT PLANNING IS GOOD BUSINESS STRATEGY
The Exit Planning Institute, provides Financial Advisors, Accountants, Consultants, and other advisors of business owners with the critical education to differentiate themselves and add value to their existing client relationships through a credential, conference, courses, and content. Download the CEPA brochure for more information.
ABOUT THE PRESENTER
Meet Louis Colella:
Joining the JFS team in early 2015, Lou brings over 38 years of experience helping entrepreneurs and business owners increase and manage their wealth, both in their businesses and in their other portfolios. Lou possesses extensive knowledge of investment management, wealth and estate planning, and small business consulting, especially in the business growth and transitions/exit planning areas.
In addition to holding CPA/PFS and CFP® credentials, Lou holds the Certified Exit Planning Advisor (CEPA) designation from the Exit Planning Institute, designed specifically for business advisors who work closely with owners of privately held companies in the areas of growing and managing business value, and planning transitions and monetizing events. CEPAs help business owners understand the current and future value of their business, both tangible and intangible, and which exit options best align with their business, personal and financial goals. The CEPA program is a widely accepted and endorsed professional exit planning program administered through the Exit Planning Institute.
A 1985 graduate of Youngstown State University, Lou earned a bachelor’s degree in Accounting and earned his CERTIFIED PUBLIC ACCOUNTANT certification and Personal Financial Planning Specialist designation through the American Institute of Certified Public Accountants. In addition, he has earned, the CERTIFIED FINANCIAL PLANNER™ certification.
Prior to joining JFS, Lou launched and led a family office in Akron, OH, worked in the CPA / public accounting industry and held senior financial management positions with several private firms.
In his free time, you might find Lou in the outdoors, fishing, golfing, hiking in nature, or spending time with family and friends.
Meet Sean Gibbon:
Since joining the JFS team in 2016, Sean has worked closely with entrepreneurs and business owners to tackle new financial challenges and develop, implement, and monitor effective solutions. In his role as Wealth Advisor, and as part of the Business Growth and Transitions team, Sean’s main focus areas include wealth management, business value assessment, and business growth and transition consulting. His ability to put together each piece of the financial puzzle allows him and his clients to see the big picture and lay out a path for achieving their financial goals. Before joining JFS, Sean attended Westminster College, earning a Bachelor of Science in Accounting and Business Administration. He secured the Ron Bergey Award for Top Accounting Student at Westminster in 2015 and graduated Summa Cum Laude in 2016. He has since won the AICPA Standing Ovation award in recognition of his achievements in personal financial planning and contribution to the profession. Sean holds the CERTIFIED FINANCIAL PLANNER™(CFP®) certification and is both passionate and adept at guiding clients of various financial backgrounds through each phase of wealth accumulation. His other credentials include the CERTIFIED PUBLIC ACCOUNTANT (CPA) certification, the Personal Financial Specialist (PFS) designation through the American Institute of Certified Public Accountants (AICPA), and the Certified Exit Planning Advisor (CEPA) designation from the Exit Planning Institute. Sean uses his impressive understanding of the complexity of businesses to help business owners grasp the current and potential future value of their companies, prioritize action items to grow and manage that value, and determine which transition options best align with their business, personal, and financial goals. Sean emphasizes the importance of building life-long relationships with his clients and assisting through the ever-changing seasons of life. In his free time, Sean enjoys spending time with his wife and family, being outdoors, and doing anything that gets him up and moving around. He currently resides in Pittsburgh, PA, where he is President of the Pittsburgh Exit Planning Institute chapter. Sean also volunteers as a speaker and CPA liaison for Westminster College students.
Meet Candace Turpack:
A highly experienced professional, Candace works with successful families and individuals, including retirees, business owners, executives, physicians and professionals to guide them through the complex wealth management process. Working closely with a team of experts, helps clients define their goals and then develop strategies and solutions for their unique situation.
Candace and her team provide the full complement of Private Banking services, including, traditional banking and lending services, investment management, comprehensive financial wealth planning, and trust and estate administration services. Candace is well-versed in all Key Private Bank products and collaborates closely with retail branches, commercial and corporate banking teams to ensure her clients receive exemplary service.
Candace holds a Bachelor of Arts in Communication Studies from Youngstown State University and is a CERTIFIED FINANCIAL PLANNER® professional, certified by the Certified Financial Planner Board of Standards. In addition, she holds a certificate in college planning and is a Key4Women Certified Advisor. Her professional affiliations include membership in the National Financial Planners Association and the Estate Planning Council. She is a proud Youngstown State Alumna, a Leadership Mahoning Valley graduate, and an active member of Old North Church, the Mahoning Valley Chamber and Youngstown Rotary Club.
Deeply rooted in community service, Candace devotes her time and expertise on several boards and committees. She serves as a Trustee for Ronald McDonald House Charities, where she plays an integral role in supporting the organization's mission to provide families with a home away from home during their child's hospital stay. She also serves on the Community Leadership Council and Advisory Committee for Akron Children’s Hospital (Beeghly Campus), helping to shape and advocate for the hospitals initiatives. Additionally, she is a board member for the Mahoning Valley Autism Society. There she serves on the finance committee and is committed to affecting change through advocacy, education, information, referral, and community building and support.
Candace resides in Canfield, Ohio, with her husband of 18 years and their three daughters: Rhyloh, Zadie, and Evie.
Meet Kara Leventis:
Kara Leventis is a Banker in the Cleveland office of J.P. Morgan Private Bank. Kara works closely with a diverse blend of successful individuals, including private equity and investment banking professionals and female founders and entrepreneurs. She serves as a conduit to the firm’s breadth of capabilities to help clients address the challenges and opportunities of substantial wealth.
Kara draws on her background in complex lending structures and the alternative investment universe to help clients optimize both sides of the balance sheet—portfolio strategies, credit, estate planning and more. Her recommendations are informed by the thought leadership of J.P. Morgan, and she is adept at allocating assets in a strategic manner across the competitive fund landscape. Kara has a particular interest in advising powerful women, building a network and empowering them to take their places as leaders and philanthropists. She blends a winning combination of intelligence and warmth to unite people in thoughtful and synergistic ways.
Kara began as a Pension Consultant at McHenry Advisers, which strengthened her foundation in quantitative analysis and financial modeling. She joined J.P. Morgan’s Analyst program in Ohio and then played an instrumental role with the firm’s Financial Institutions Group in New York. More recently, Kara was an Associate at HPS Investment Partners, working alongside the CEO and CFO of the private credit fund to evaluate strategic opportunities and support its firm-wide initiatives. In her return to J.P. Morgan, she brings her value-added background to the team and culture that helped launch her professional journey.
Originally from Warren, Kara earned a B.S. in Actuarial Science from The Ohio State University.
Kara is excited to expand J.P. Morgan’s presence in the Northeast Ohio area, where she continues to live and has deep ties inthe community. She enjoys playing tennis and golf and traveling to new destinations.
