XPX - Charlotte - Exit Planning Exchange

Welcoming another fantastic new member to our Charlotte XPX chapter... Craig Selimotic Danforth. Craig is Vice President - North Carolina Market for Bernstein Private Wealth Management. Craig specializes in working across generations to address emotional aspects regarding financial decision-making. Often clients are at a crossroad and it’s his role to help them navigate the best path forward. Some are business owners who closely identify with companies they have built and are now interested in exploring options for future stewardship. Others are well-respected civic leaders who feel an obligation to enhance their communities through philanthropic giving. Welcome to our XPX community, Craig!

Meet a new member to XPX Charlotte, Shane Brotherton, Senior Vice President - Corporate Banking, with Pinnacle Financial Partners. Shane is a passionate banking advisor partnering with metro Charlotte CEOs and their staffs to make their lives easier. He advises on long term strategic goals to increase the businesses value in the eyes of a potential buyer. Shane seeks to connect clients with members of his network who can help make it an optimal exit for their life’s work. We’re happy to have Shane as a member of XPX Charlotte’s dynamic community of professionals!

You have been working on the transaction for months. The business has gotten healthy with great valuation increase. Now is the time to get it across the finish line. Then... the owner... ▪ Struggles with the emotions of relinquishing the business ▪ Gets overwhelmed with the procss and gets cold feet ▪ Develops health issues, changing the parameters of the deal ▪ Has a family emergency or health crises, taking them out of the deal process ▪ Backs out due to fear of staying relevant without the business. In the past, most of the emphasis has been on the financial side of the transaction. When you have an expert on your team focused on the Wellness Portfolio, alongside the other deal aspects, these deal delays or killers can be prevented. Thank you XPX Charlotte member Michelle Fritsch, PharmD, BCGP for this insightful post. https://lnkd.in/eyW-MR-R

Meet one of XPX Charlotte’s new members, Bishop Beall, CSL - PE and SMB Growth Advisor, providing Fractional Chief Revenue Officer services through Sales Xceleration® | Five Stones Advisors LLC. Bishop is also a Regional Connector with Trustegrity®. Bishop partners with small to mid-sized companies that are experiencing challenges related to sales and help them succeed by building and leading sales teams that are accountable for driving predictable, profitable, and sustainable revenue growth. We’re happy to have Bishop as a member of XPX Charlotte’s dynamic community of professionals!

According to the 2023 National State of Owner Readiness Survey conducted by the Exit Planning Institute, 69% of business owners identified exit strategy on their priority list. This number was only 6% in 2013! The more business owners become aware of and educated about exit planning, the more exit planning professionals like members of XPX Charlotte can collaborate and help them create a plan. Let’s educate our community together!

Meet one of XPX Charlotte’s new members, Ashley Love, founder of FullFraction Finance & Accounting. Ashley comes to XPX with a master's degree in Accounting from Florida Atlantic University and a background in mergers and acquisitions (buy-side) and finance. With ten years of experience in finance and accounting, she’s no stranger to staying up to date on the evolving landscape of exit planning. We’re happy to have her as a member of XPX Charlotte’s dynamic group of professionals! ********************** Thank you to our sponsors: J.P. Morgan Private Bank, Ascension Law, UBS, South Park Advisors, LLC, VR Business Brokers Charlotte, NC, Business Acquisition & Merger Associates, Whitewater Consulting LLC, and FocusCFO®

XPX Next 2024 is just around the corner! Whether you're new or an experienced veteran in the exit planning space, you won't want to miss from experts like John Leonetti, President and CEO of The International Exit Planning Association who will give an overview of the industry over the past 20 years. More about The International Exit Planning Association: The International Exit Planning Association (“IEPA”), a practitioner-led organization of approximately 275 senior-level advisors and consultants committed to helping business owners prepare for and achieve successful exits from their privately held businesses. Their members go beyond “exit talking”; they are advocates – “Exit Doers” who deliver high-quality, tailored solutions that cover every aspect of business exit planning. This practical experience is borne from the hundreds of exit plans produced by the IEPA staff and professionals and the thousands more produced by our members. The IEPA is also the governing body responsible for establishing and maintaining standards for the CBEC® (Certified Business Exit Consultant®) designation. The CBEC® designation has a stellar reputation that drives growth for our members and their business owner clients. Hear from John and the rest of our amazing lineup at XPX Next on Tuesday, July 23rd. TO SECURE YOUR SPOT: https://lnkd.in/eCQ_GhjU #advisors #advisortools #exitplanning #nationalconference #xpxnext2024

Business Planning is Exit Planning! Let that settle in for a second.... The journey from inception to maturity is spread through strategic decisions and oversight. One crucial element often overlooked is aligning business planning with exit planning. Integrating these two facets can significantly enhance the company’s value and ensure a seamless transition when it’s time to step away. This article highlights 10 essential aspects of exit planning that should be integrated into your business strategy from the start. 1. Assessing Business Value 2. Setting Personal and Financial Goals 3. Choosing an Succession / Exit Strategy 4. Improving Business Operations 5. Planning for Succession 6. Addressing Tax Implications 7. Managing Legal Considerations 8. Collaborating with Trusted Professionals 9. Estate and Trust Planning 10. Preparing for Due Diligence Remember, the end goal isn’t just to build a great business, but also to ensure that when the time comes to move on, you can do so seamlessly and profitably. Please note #8. That is what XPX - Charlotte - Exit Planning Exchange is all about. We are a community of trusted professional advisors deciated to helping business owners in metro Charlotte.... do all of the above... to achieve their optimal outcome. Come check us out -- our organization and the professionals who are our members -- here on LinkedIn. https://lnkd.in/eZ7kxY6C

Going more informal for the summer... Drop in coffee gathering for our members (and a few select guests). This one in the Southpark area. It was great to see Candace Cline, CFP®,CDFA®, Tom Bixby, Shawn Garrett, Joe Dye Culik, Scott Jones, Adam Petricoff, CBI, CMAP, MAMI, Michael Stier, CEPA®, Mary Griesser, William M., Chuck Cooper, Dr. Elizabeth Teagarden, SHRM-SCP, SPHR, Seth A. Wheeler, CFP®, M.S., Steve Melton CIC CLU TRA, Mark Pompeo, Shane Brotherton and Ann Marie Williams. [Apologies if we missed anyone here.]

Join us for another great educational and social event on September 18th! Our speaker will share his exit journey and important insights from a business owner’s perspective on maximizing relationships with professional advisors. This one is a can’t-miss event! Register here: https://lnkd.in/gX5qZ57J