Wealth Manager helps business owners integrate exit planning into their business, personal and financial goals
HawsGoodwin Wealth, an independent financial planning and investment management firm, announced today that President and Managing Partner Cam Goodwin successfully achieved the Certified Exit Planning Advisor (CEPA) designation, the most widely accepted and endorsed professional exit planning certification program in the world.
“Exit planning is simply good business strategy for owners of privately-held companies,” says Goodwin. “It helps create value now by addressing all the business, personal, financial, legal and tax issues involved in the eventual transition of your business.”
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According to the Exit Planning Institute, a provider of education and research for exit planning professionals, 66 percent of the current U.S. business market is owned by Baby Boomers, who are set to transition within the next decade. They also report that only 20 to 30 percent of businesses that go to market actually sell, leaving a significant number of owners “without solid options to harvest their wealth and ensure economic continuity into the next generation.”
“I always want to be a valuable resource, and exit planning is an essential competency for advisors who work with today’s business owners,” says Goodwin. “I was eager to gain best-in-class business practices to help my clients understand the true value of their company and best prepare for transitioning.”
To earn the CEPA credential, candidates must satisfy professional experience and education requirements, attend a rigorous five-day executive-MBA-style educational program, complete 100 hours of self-study, and pass a four-hour written examination. Once earned, the certification must be renewed every three years through additional studies and leadership activities.
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