This article was contributed by the experts at BNY Mellon Wealth Management
For many business owners, the term “exit planning” has a negative connotation. As a result, they often wait too long to start preparing, which makes the ultimate transition difficult—or worse, unsuccessful. As advisors, we can help business owners overcome this challenge by changing the way they think about exit planning. Instead of treating the exit as a singular event, we advise business owners to view it as an integral part of the business.
A business transition will have far-reaching impacts on a business owner’s life before, during and after the sale. Just like the other aspects of a business that make it successful, an exit plan is something that requires time, discipline and a team of professionals to execute it effectively…[read the full article]
About the 2017 Title Exit Planning Summit Partner:
BNY Mellon Wealth Management clients represent some of the most successful individuals, families, and institutions around the world. We focus on protecting and growing our clients’ wealth through customized strategies and services. An important aspect of wealth protection is helping our clients through transitions—and exiting a business is one prime example of when families need a strong team supporting them.