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How do you approach an owner to provide them their exit options? Most owners are unfamiliar with the language and process behind exit planning. When working with an owner during what is likely the largest financial transaction of their life, understanding how to effectively communicate is crucial.
In this session, you will work through a hands-on case study to develop your conversation skills. Through this case study, you will collaborate with an interdisciplinary team of advisors to gain experience you can directly apply to your practice.
Learning Objectives:
- Illustrate how to approach an owner to begin an exit planning conversation
- Dissect empowering conversations with owners
- Learn to slow down to ask beneficial questions
- Understand an owner’s baseline knowledge about exit planning
About the Presenters:
Learn from industry experts Vincent Mastrovito, CVGA, CEPA, President & Founder, Prometis Partners, Founder of the EPI West Michigan Chapter and Scott Cousino, CFP, CEPA, President & Founder, Legacy Capital Planners LLC, President of the EPI West Michigan Chapter.
Event Details
Virtual Location: Zoom
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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Other Business Professionals
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Business Consultants
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Business Owners
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.
Vincent Mastrovito, CEPA, CBEC
Founder & President, Prometis Partner
Vincent is the founder and president of Prometis Partners, and he began his career in 1989 providing wealth management services to businesses and individuals. After two decades with Lincoln Financial Group, Vincent decided to become an independent advisor, after 25 years in the business Vincent successfully sold his practice to pursue his passion in working closely with business owners on exit planning strategies and founded Prometis Partners to pursue his desire to help business owners accomplish their exit planning goals.
Vincent has successfully completed advanced education through the Exit Planning Institute, Value Builder program, Pinnacle Equity Solutions, ant the Business Enterprise Institute – all of which focus their education and training on how to best help business owners successfully transition out of their business.
Vincent has successfully transferred or positioned many businesses for their transition to the next generation or sale.
Vincent is a national speaker on exit planning. He also conducts business owner roundtables to discuss the issues that they face, and how to best approach their situation. Vincent also conducts monthly podcasts and maintains a blog on his website.
Vincent is a Certified Business Exit Consultant (CBEC®), Certified Exit Planning Advisor (CEPA®) and a Certified Value Growth Advisor (CVGA®). These designations reflect a strong commitment and educational background to deliver optimal solutions to business owners. Vincent provides his clients with the written goals for the succession of a business’ ownership and control. His process is derived from a well thought out and properly executed plan that considers all factors, all interested parties, and the personal goals of the owners in a manner and a time period that is accommodative to the business, its shareholders, and potential buyers. He is a member of the Business Enterprise Institute Inc. (BEI), which provides comprehensive practice development tools, education and ongoing support networks to business owner advisors. He is a member and Preferred Associate of the Michigan Manufacturing Association, as well as a member of Central Michigan Manufacturing Association and Great Lakes Bay Manufacturing Association.
Meet Scott Cousino, CFP, CEPA:
Scott Cousino is the founder and president of Legacy Capital Planners, LLC, an independent financial services firm based in Grand Rapids, MI. Scott’s passion is advocating for people who embrace personal and business financial plans as tools to positively impact their lives, the lives of their family and stakeholders, and their community as a whole. He believes that living with purpose is the best way to leave a legacy, and purposeful planning supports purposeful living.
Scott began his career in financial planning in 2005. Prior to that, he was a Program Manager in the automotive industry successfully managing a wide range of OEM programs. His experience in automotive laid a solid foundation for a process-oriented wealth management approach that he has been able to successfully integrate in service to his clients from all walks of life. Achieving the CERTIFIED FINANCIAL PLANNERTM certification in 2013 has further empowered Scott to deliver a comprehensive approach to financial planning and wealth management.
Scott holds a Bachelor of Science degree from the College of Engineering and Applied Sciences and Haworth College of Business at Western Michigan University and completed his CERTIFIED FINANCIAL PLANNERTM coursework through Boston University. In addition to being a CFP® professional, Scott holds multiple security and insurance licenses.
In his free time, Scott can be found with his wife of over 20 years raising their three active kids. Scott serves on local non-profit boards and their finance or administrative committees, and his family is actively involved in their local faith community.