Aaron Dube is a driven professional empowering advisors to enhance client conversations and integrate Exit Planning strategies into their practices. With expertise in delivering consistent client experiences and facilitating holistic approaches, Aaron offers a unique perspective to help advisors achieve actionable results.
Episode Highlights Here:
Brett
Fantastic. And so let’s dive right into the topic at hand, which is helping your clients build an exit plan. So Aaron, what’s the number one secret to helping? You know, business professionals help their clients build an exit plan?
Aaron
I think that the secret is not really a secret. But then I think the willingness or the confidence to be talking to every business owner that you come across of, do you know how much your company is worth today, if you were to sell it? And if we run that up against your financial plan, whatever your specialty is, as an advisor, you don’t need to be a financial advisor. But taking that look at the end goal, how much is it worth? If you sold it today? Would that cover the gap between what you have and what you need? And that’s really a I don’t know, it’s an underserved question or it’s an underserved market, there’s not a lot of business owners that understand their value precisely and have had somebody run up against their lump sum financial plan. And it’s not rocket science, I think it’s just a willingness to look at this, these engagements from the top down, not just to provide a financial plan or an insurance policy, but to take that step back and look at the big picture.
Brett
Not so much the willingness and competence that you can give somebody to I guess start at the end in mind, you might think about understanding the key facts. And as how’s that pertains to the vision and a wealth plan for the person who’s exiting, relates the gap analysis, if I’m hearing you correctly, right, the gap between where they want to be and where they’re at, and oh, wow, there’s a big Exodus happening here. Assume, you know, what’s the plan for that? And how do we help you get there? Is that a fair summary so far? It is. Excellent. Aaron, what’s the number two secret to helping your clients build an exit plan?
Aaron
Once that subject is broached, really to, to have a process to have the means to walk them down the road. And when I talk about walking down the road, if they do have a significant gap, or even a small gap, how do we build that business value? How do we protect the asset in the long term even, you know, tapping into your skills, but what needs to be done to build it and get them where they need to be emotionally and financially that they’re, they’re able to take more steps and start to plan for a company that runs on its own? A business owner doesn’t always have to exit in order to create more transferable value and enable a man management team to run it, letting people make decisions and really doing some of the things that create an enterprise as opposed to maybe a lifestyle business.
Brett
So it sounds like exploring options is a part of this, right? It doesn’t necessarily mean exit by selling, it can be spean exit by transferring, like you said to other leaders within the organization, and having that process to walk them down or a system through that process and that journey and those options, so that they’re emotionally and financially, you know, prepared for that. Is that a fair summary, Aaron?
Aaron
It is. Yeah. And one of the things that we talk about in this process is also not only just building and protecting value, but what are the business continuity aspects that need to be dealt with. Number one, to really look at how we can build more transferable value. Buyers want to see something that runs on its own. If the owner steps away and takes everything with it. It’s not much of a business. But in this also to mitigate death or disability before a transfer happens. There’s a lot of just low hanging fruit in the planning world that often isn’t considered. We’re working with the quarterbacks that are taking the 20,000 foot view to help sort these ideas out and coordinate a team that is going to be able to build value, create continuity, and move this down the road towards an eventual transaction. Hey, everybody,
Brett
Brett Swarts. Here, we’re taking a quick break out of the podcast episode. I want to introduce you to one of our strategic alliances, Mark Willis with Lake Growth financial. Have you ever wanted to break out of your bank and or fire your banker? Well, then you’re going to want to hear from Mark right now. Hey, Mark, take it away.
Mark
Hey, thanks so much. You know, you’re right. As a Certified Financial Planner, I’ve had the great privilege of working with real estate investors, business owners, even NFL Super Bowl champions, but most people I work with just want more financial assurance, and agency and control in their life. And they feel like Wall Street’s given them the slip, crypto real estate and more just has more out of reach. And they feel like they’re swimming upstream, take back control of your financial future. And you can do it through becoming your own source of financing, and by bank on yourself. So come reach out to us and we’d be happy to say hello, we’re at Capital Gains Tax solutions.com, forward slash bank.
Brett
Everybody. Now back to the show. Excellent. Yeah. So I was just I think being a good steward was what they built and helping them to be a great steward what they built by taking a bigger view, and also being prepared for death and disability having contingency plans in place. So excellent. So and what would you say the number three secret is, after this, after that system, and that process that you’ve gone through, that was the number three secret to helping your clients build the next client,
Aaron
I just keep momentum. Once advisors get engaged with business owners, business owners are very busy people, as we all know, everybody’s busy. But once you get going, it’s going to be important to maybe keep the planning conversations to smaller bites of the big pie. A lot of business owners, they just have trouble focusing on maybe 20 or 30 things that need to be done over the next five or so years. But if you can slowly bring those to them, keep momentum in the plan, keep the nurture going, that it’s crucial. A lot of planning starts and then just kind of has a nebulous end somewhere in the ether.
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About Aaron Dube
Aaron Dube is a motivated professional helping advisors understand how to have more engaging conversations with business owners and identify opportunities within their existing practice to incorporate Exit Planning strategies and deliver additional value. Supporting individual advisors in getting their practice started through large enterprise solutions in which companies have been able to implement a holistic approach, delivering a consistent client experience across each of their verticals.
A unique perspective with a proven ability to help advisors understand how to find the key points in a business owner’s goals and turn them into actionable steps through implementation of Exit Planning strategies.
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