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Experienced Succession Planning

A Safety Net for Peace of Mind

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Maintain Stability, Helping Ensure Continuity

Succession planning may be crucial for ensuring a smooth transition, whether through internal promotions, external sales, or passing the business to a family member. It helps maintain stability and supports long-term goals by identifying the right successor. For leaders, it involves preparing internal talent and ensuring continuity. Faculty and researchers can preserve their legacy and safeguard vital work, while entrepreneurs can plan their exit, knowing their business will continue to thrive. A solid succession plan could provide peace of mind to help cultivate a safety net for the future.

Maintain Stability, Helping Ensure Continuity

Succession planning may be crucial for ensuring a smooth transition, whether through internal promotions, external sales, or passing the business to a family member. It helps maintain stability and supports long-term goals by identifying the right successor. For leaders, it involves preparing internal talent and ensuring continuity. Faculty and researchers can preserve their legacy and safeguard vital work, while entrepreneurs can plan their exit, knowing their business will continue to thrive. A solid succession plan could provide peace of mind to help cultivate a safety net for the future.

Customized Transition Plans

At Summit Retirement Advisors, we understand that every business is unique, which is why we offer customized transition plans tailored to your specific needs. Our approach helps ensure that your succession plan is aligned with both your business's and your personal long-term strategies.

Summit-Financial-Our-Approach

Our Approach

  • Formulating + Designing Succession Plans: We work closely with you to formulate, prepare, and design a comprehensive succession plan, especially when considering a liquidity event or sale of your enterprise.

  • Collaborative Planning: We frequently collaborate with CPAs, attorneys, and other professionals involved in your transition. This collaboration helps to ensure a thorough evaluation of all aspects of your decision, offering additional advice and considerations to help you make the best choice.

Business Coaching + Guidance

Evaluating + Strategizing

  • Strengths + Weaknesses: We assist business owners in evaluating their business’s strengths and weaknesses, identifying potential successors, and clarifying long-term goals.
  • Guidance + Mentorship: For those who seek it, we provide personalized guidance and mentorship to help them prepare for future leadership roles.

Implementation + Ongoing Support

  • Effective Implementation: We strive to ensure that your succession plan is implemented effectively by providing ongoing support, holding all parties accountable, and navigating any challenges that may arise during the transition.

       Unbiased Mediation

  • Third-Party Perspective: We offer an unbiased, third-party view to help mediate sensitive issues such as family dynamics and employee relations, helping to a smooth and harmonious transition.

Commonly Asked Succession Questions

When starting your succession plan, consider factors such as identifying potential successors, setting a realistic timeline, and addressing any legal or financial implications. We guide you through these considerations to help ensure a smooth transition that aligns with your long-term goals.

Protecting your family’s well-being is a critical aspect of succession planning. We help you structure your plan to include provisions for your family, whether through estate planning, financial arrangements, or securing their role in the business or academic legacy.

Yes, succession planning can significantly impact your retirement strategy. We work with you to align your succession plan with your retirement goals, helping ensure a seamless transition that supports your financial security in retirement.

Still Looking for Answers?

Visit our frequently asked questions page to learn more.

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