WHAT IS A CEPA ADVISOR AND HOW CAN ONE BENEFIT YOUR BUSINESS?
Although you may be at the beginning of your business owner journey, it's never too early to think about the end game. A Certified Exit Planning Advisor (CEPA) is someone who receives a specific certification that helps business owners plan their exit or transition plan.
Our very own Erik Roemer, Gerber's Chief Compliance Officer, recently completed the rigorous CEPA Program through the Exit Planning Institute (EPI).
Here's what you need to know about CEPA and how it can help your business.
WHAT IS A CEPA ADVISOR?
CEPAs are financial professionals who hold a designation through a certified program where they learn how to strategize an exit plan for your business, including the professional and financial goals of the business owner.
This designation was created in 2007 by the Exit Planning Institute (EPI), a company focused on educating professional advisors globally on how they can support the success of business owners to maximize value and sell on their terms through a business transition.
It is the most wifely accepted and recognized exit planning program in the world.
HOW CAN A CEPA ADVISOR BENEFIT MY BUSINESS?
If you work with a CEPA, they help you make more informed decisions about your businesses exit strategy.
They ask the right questions to set your goals, both professionally and personally.
They adhere to the four Es: education, examination, experience, and ethics.
The CEPA can look at your financial needs, help you determine your business value, risk tolerance, decide when it's the best time to move one, and help maximize your taxes from the sale. After they examine this, they can develop a tailored plan to your business, and business sector.
Some key benefits to having an exit plan:
- Creates a blueprint to success
- Provides deliverables and metrics in your plan
- Creates an increase in value
- Drives organizational behavior
- Decreases potential risk
- Prioritizes the business owner and family wealth
According to the Exit Planning Institute, 50% of exits are not voluntary. No one wants to work forever, but you also don't want to walk away from your business without a thoughtful plan in place.
Consider consulting a CEPA to ensure success after you move on to your next chapter.
Need some help or want to talk it through? Reach out to Erik!
