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Family Business Woes - The Power of Succession and Exit Planning

  • Accountant
  • CFP (US)
  • CPA (US)
  • CVA
  • CFA
  • CPA/PFS
  • TEP
  • ChFC
  • CSA
  • FSCP
  • CASL
  • ChSNC
  • RICP
  • WMCP
  • CIPM
  • CBA/MCBA
  • CFIRS
  • CWS

Published: August, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Overview

  • Succession Myths
    12 mins
  • What is Business Continuity?
    20 mins
  • Succession planning defined
    29 mins
  • Reasons for succession planning
    33 mins
  • Steps for a strategic succession plan
    45 mins

Course Description

You have worked hard for your business and created your dream.

Have you considered what happens when you desire not to continue to work?

Have you ever considered your exit strategy?

One of the most difficult decisions to think about is the transfer of your business - your pride, joy, and most important your creation. Turning over management/ownership authority is not easy for any founder, nor is it easy for the successor. However, if you want your practice to continue to prosper then you must seek a way to do it.

Retirement may seem like a distant reality, but many small business owners wait until it's too late to successfully transfer their company to the next generation. Succession planning is a process that involves much more than just the transfer of ownership, and it only becomes more complicated when you add family dynamics to the mix. Research shows that practices tend to fail after death and fewer than 30 percent are transferred successfully to second-generation or associate.

Join Mr. Drew Stevens in this Finance Continuing Professional Education Course to learn why so many family businesses fail when it’s time to transfer operations, and what you can do to create a succession plan that works.

Ask yourself the following:

  • During a short-term illness who is responsible for maintaining the practice?
  • Does the current team have enough training to continue practice standards when the principal is away?
  • Should a crisis occur who is my go-to person?
  • What areas of the practice are covered in a crisis and where is their vulnerability?

Learning Objectives

  • To discuss ways to create an exit strategy to gracefully exit.
  • To discuss methods for creating wealth and retirement.
  • To analyze why it is important to create a sustainable business model.
  • To create and implement a plan that provides business continuity.
  • To discuss and acquire the tools and resources needed to create a valuable succession or exit plan.

Recommended For

  • This online Finance CPE webinar is recommended for CPA, CMA, PFS, and Other Finance professionals engaged in or interested in guiding their clients for Succession Planning.
  • This CPD webinar is also recommended for Canadian CPAs who want to understand the power of succession and exit planning.

Who Should Attend?

  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • Certified Valuation Analysts
  • Chartered Financial Analyst
  • CPA (Industry)
  • CPA - Large Firm
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Finance Pros
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 1 General Credit for Accountant/Bookkeeper/Tax Professionals
  • 1 CPE Credit of Finance for Certified Public Accountants (CPA-US)
  • 1 CPE Credit of Exit Planning for Certified Valuation Analyst (CVA)
  • 1 PL Credit of Finance for Chartered Financial Analyst (CFA)
  • 1 CPD Credit of Retirement and Financial Independence Planning for Personal Financial Specialist (PFS)
  • 1 CPE Credit of Finance for Chartered Financial Consultant (ChFC)
  • 1 CPE Credit of Finance for Financial Services Certified Professional (FSCP)
  • 1 CPD Credit for Trust and Estate Practitioners (TEP)
  • 1 CE Credit of Financial aspects of estate and retirement planning for Certified Senior Advisor (CSA)
  • 1 CPE Credit of Finance for Chartered Advisor in Senior Living (CASL)
  • 1 CPE Credit of Finance for Chartered Special Needs Consultant (ChSNC)
  • 1 CPE Credit of Finance for Retirement Income Certified Professional (RICP)
  • 1 CPE Credit of Finance for Wealth Management Certified Professional (WMCP)
  • 1 PL Credit of Finance for Certificate In Investment Performance Measurement (CIPM)
  • 1 CPE Credit of Exit Planning for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)
  • 1 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 1 CE Credit for Certified Wealth Strategist (CWS)
  • 1 CE Credit of Retirement Savings and Income Planning for Certified Financial Planner (US) (Approval No. 305049)

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Drew Stevens

CEO and Leadership Change Expert, Stevens Performance

Talks about #strategy, #salesandmarketing, #revenueoptimization #financialadvisory #strategicleadership #financialplanning #successionplanning #exitplanning

If you want your business competitive proof then you need to understand the 12 crucial elements that destroy a business. 

If you want your business to continually exceed goals, then stop doing the same things that create no results and no changes.

What is?

  • 12 Strategic Principles that guide the business and eliminate the obstacles/
  • Modern methods that create fiscal controls and higher income.
My mission is to implement plans for struggling businesses to generate transformative, long-lasting results for every organization. 

My innovative and transformative assistance is with:

  • Developing financial awareness that places more money into owners' hands.
  • Eliminating waste and processes that slow revenue, access to clients and competition.
  • Implementing strategies that have helped businesses develop more than $11B in new revenue.
  • Creating personal financial strategies that create abundance, a better lifestyle and personal liquidity.
By creating a strategic approach and realigning business, Drew will help your organization to: 

  • Lower Customer Acquisition Cost
  • Increase financing while creating a fluid when planned exit 
  • Competitive Proof the Firm
  • Build Industry and Brand Recognition
  • Increase Financial Wealth

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
  • Continuing Education Credit Certificate is available to all eligible participants within 24 hours of each webinar.
  • You must attend complete live webinar and respond to all polling questions asked during the webinar. Credits would be issued on 50 minute credit hour basis.
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  • This event may be a recorded rebroadcast of a live event done in past and the instructor will be available to answer your questions during/after the webinar.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
  • You can manage your continuing education certificates and credits through your certificate dashboard which is available when you are logged in to your account (LOGIN)
  • As an accredited provider of Continuing Professional Education in the United States, myCPE online learning platform, courses, and webinars meet the requirements set forth by the Institute of Management Accountants (IMA), an IFAC Member Organization, as well as the National State Boards of Accountancy (NASBA) and the Institute of Internal Auditors (IIA), both IFAC Affiliates. As well as it has been approved by NASBA, Internal Revenue Service (IRS), Certified Financial Planner Board (CFP Board), California Tax Education Council (CTEC), Society of Human Resource Professional (SHRM), Human Resource Certification Institute (HRCI) and many more.Therefore, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable continuing education requirement as CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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