Fairness in Family-Run Businesses: A Guide for Advisors JDewing2 Fri, 08/11/2023 - 10:00 For business advisors, the multifaceted world of family-run businesses can be as rewarding as it is complex. One of the most intricate aspects of guiding such businesses is ensuring fairness, especially when both business-active and non-business active children are in the picture. But how do you, as a business advisor, offer expert guidance in such scenarios? Understanding Fairness Beyond Business When dealing with family-run businesses, the role of a business advisor isn't solely about dividends, shares ..read more

Friction in the Family Business mernzen Fri, 05/27/2022 - 08:28 On the surface, it seems like Exit Planning for family businesses hardly requires a second thought. After all, one generation simply hands down the reigns to the next generation as that is typically the desired exit path in these situations. The family transfer process is rarely that simple, and it can potentially cause a great deal of friction.   Business owners face several challenges when it comes to ensuring their company transitions smoothly from one generation to the next. In some cases, transferring to a family ..read more

Exit Planning Boot Camp Livestream eswanson Tue, 09/07/2021 - 06:28 BEI's Boot Camp is the first step in every Exit Planner's education. Advisors have the technical skills to assist an owner in Exit Planning, but few know how to package the process and use it to drive demand for their services. This livestream event will allow attendees to take advantage of multiple Q&A opportunities as well as unique and valuable interactive opportunities with the other Boot Camp participants from the comfort of your home or office. Don't miss this opportunity to take advantage of all that Exit Planning ..read more

Andy Brincefield - Family Business Transfer Challenges eswanson Wed, 08/11/2021 - 04:20 On this episode of Tales from the Trenches, Andy Brincefield discusses the role of the financial advisor during the Exit Planning Process, challenges that arise in family-business transfers, and the benefits a business owner gains when working with a financial planner. Area of Interest Family Business iframe Your browser does not support iframes, but you can visit Target Audience Owners Transcript andy_brincefield_-_tales_from_the_trenches.pdf ..read more

The Most Frustrating and Rewarding Clients to Work With eswanson Wed, 08/11/2021 - 04:09 When advisors do Exit Planning, they’ll undoubtedly work with family businesses. Family businesses are the most frustrating and rewarding clients to work with, and many advisors aren’t family business experts. In the sixth episode of BEI’s Why We Plan podcast, Founder John Brown and President Elizabeth Mower examine the most common roadblocks family businesses bring to the table, how advisors can work through both technical and non-technical issues, and what to focus on with your family business clients ..read more

‘That’s Not Fair’ and Other Unforeseen Exit Planning Problems eswanson Wed, 08/11/2021 - 04:03 Planning never occurs in a vacuum. People outside of the owner often have a say in the planning, and unless advisors know how to anticipate that, even the best-laid plans can go awry. In the eighth episode of BEI’s Why We Plan podcast, Founder John Brown and President Elizabeth Mower talk about common problems that pop up during the Exit Planning Process, how advisors can anticipate these problems, and the best ways to approach the unforeseen. Area of Interest Family Business iframe Your browse ..read more

Plan with the End in Mind eswanson Wed, 08/11/2021 - 03:47 In this episode of Why We Plan, John Brown, Founder of BEI, interviewed Nick Niemann, Partner and Practicing Attorney at McGrath North Mullin & Kratz, PC LLO at BEI’s 2019 National Conference. Area of Interest Family Business iframe Your browser does not support iframes, but you can visit Target Audience Advisors Transcript episode_22_-_plan_for_the_end_wwith_nick_neiman.pdf ..read more

How to Avoid Common Family-Owned Business Challenges with Adequate Planning eswanson Wed, 08/11/2021 - 03:43 In this episode of Why We Plan, John Brown, Founder of BEI, interviewed Joe Guyton, Founder and Principal of The Guyton Group, at BEI’s 2019 National Conference. Joe explains his first experience with Exit Planning was with his father. He uncovers the common mistakes his father made with his business and the negative impact it had on him and his family. With better planning, many of these common challenges could have been avoided. Joe also discusses his strategy for gett ..read more

Sharing Your Exit Plan with All Parties Involved - Including Family Members eswanson Wed, 08/11/2021 - 03:37 In this episode of Why We Plan, John Brown, Founder of BEI and Elizabeth Mower, President of BEI discuss the importance of coming up with a contingency plan when the owner of a business unexpectedly dies. As morbid as this topic might be, unfortunately we have to think about these kinds of situations. Elizabeth and John share their experiences of when an Exit Plan addressed planning for an unexpected death of an owner, but it was not properly executed due to ineffective commu ..read more

Bolstering Your Legacy eswanson Tue, 08/10/2021 - 07:03 Video   Advisors often go into Exit Planning to fulfill a passion. See how Exit Planning helped Nick Niemann pursue a legacy he wanted. Family Business ..read more