Succession Planning
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In the United States, there are 33 million small-medium sized businesses.
69%, or ≈ 23 Million, of those businesses have not formed a formal exit strategy.
Join the effort to lower that statistic! With a professional financial advisor by your side, curating a formal exit strategy that meets YOUR needs is possible.
Succession Planning
Getting Your Business Ready for Succession Planning
Succession planning focuses on who will lead and own the business in the future and how that transition happens smoothly.
A CEPA® advisor helps business owners move beyond informal plans to create a clear, documented, and actionable strategy.
Key Areas a CEPA® Advisor Helps With:
Clarifying succession options
Family succession
Key employee or management buyout
External leadership transition
Hybrid or phased ownership changes
Strengthening operational independence:
- Reducing owner dependency
- Creating consistent processes and systems
- Establishing leadership depth beyond the owner
Aligning family, business, and ownership goals:
- Addressing fairness vs. equality among heirs
- Coordinating with legal and tax professionals
- Preparing next-generation leaders responsibly
Mitigating risks before transition:
- Identifying gaps that could disrupt continuity
- Planning for unexpected events such as disability or death
- Ensuring business stability during leadership changes
Outcome: The business remains viable, valuable, and aligned with the owner’s long‑term vision—even after leadership changes.
Common Questions We can Help with:
We can help answer those questions that have been keeping you up at night.
What is my business valuation? How Much Am i worth?
Am I doing everything I can to reduce our taxes?
Do I have enough money to sell my business and retire?
What if my child doesn’t want the business? what do i do?
How long should I prepare for this?
CERTIFIED EXIT PLANNING ADVISOR
What is business financial planning?
Business financial planning is the process of creating strategies to help your business achieve its financial goals while managing risks and preparing for future growth. A comprehensive plan may include budgeting, cash flow management, tax planning, employee benefits, risk management, retirement plans, and succession planning.
At Independent Wealth Consultants, we help business owners develop a financial roadmap that supports both their business objectives and personal financial goals, helping create greater confidence in the decisions that shape the future of their company.
How do I set revenue goals?
Effective revenue goals should be realistic, measurable, and aligned with your business's overall growth strategy. Many business owners begin by reviewing historical performance, market conditions, operating expenses, profitability targets, and future growth opportunities.
Revenue goals should not focus solely on sales volume but also on profitability and long-term sustainability. We can help business owners evaluate their financial picture and develop goals that support both business growth and personal financial objectives.
Should my business offer health insurance?
Offering health insurance can be an effective way to attract and retain talented employees while supporting their overall well-being. It may also provide tax advantages for certain businesses and help create a more competitive benefits package.
The right approach depends on your business size, budget, workforce needs, and long-term goals. We work with business owners to evaluate benefit options and determine how employee benefits fit into a broader business and financial planning strategy.
How do I pay quarterly taxes correctly?
Quarterly estimated tax payments are generally required for business owners and self-employed individuals who expect to owe taxes throughout the year. The amount you should pay depends on factors such as income, deductions, credits, and business structure.
Because underpayments can result in penalties, it is important to maintain accurate financial records and regularly review income projections. We encourage business owners to work closely with qualified tax professionals and can help coordinate tax-aware planning strategies that support overall financial goals.
How do I pass on my business to the next generation?
Passing a business to the next generation requires thoughtful succession planning well before ownership changes occur. A successful transition often involves identifying future leadership, establishing a timeline, creating a valuation strategy, addressing tax considerations, and developing a plan for transferring ownership and responsibilities.
Succession planning is about more than transferring assets. It is about helping ensure the long-term success of the business while preserving the legacy you have built. We help business owners develop personalized transition strategies that align with their family, financial, and business goals.