Who Has a Seat at the Table?

The key members of an owner’s exit planning team — and the role each plays in a successful transition.

A successful exit is rarely a solo effort. Below are the ten advisors who typically have a seat at the table, each contributing distinct expertise as an owner prepares for transition.

Owner: 80–90% of an owner's wealth is locked in their business; they need a cross-functional transition team to assist their exit.

Financial Advisor: instrumental in calculating an owner's Wealth Gap; remains on the owner's team long after an exit.

CPA: one of the owner's most trusted advisors; provides tax preparation, financial statements, forensic accounting, auditing, and valuation.

Attorney: 61% of owners with a formal transition team include a business attorney; they provide legal advice on the Four Intangible Capitals.

Growth Consultant: often referred to as a Value Advisor; they assess the personal, business, and financial goals of the owner throughout the exit.

Board of Advisors: 91% of owners have a dedicated Board of Advisors who provide valuable advice from individuals with years of experience.

Estate Planner: helps maximize the owner's wealth while minimizing estate taxes; involved in creating the Will, Trusts, and charitable contributions.

M&A Advisor or Investment Banker: typically used if the business owner is going to sell to a third party; they position the company for sale.

Risk Advisor: works with the owner to mitigate and manage risks in the business through business liability, cyber, key man, and life insurance.

Family Members and Family Business Advisor: a family council acts similar to a business Board of Advisors and assists in managing disputes.

“Who Has a Seat at the Table?” is published by the Exit Planning Institute and is reproduced here for educational purposes. Integrated Wealth Advisors is not affiliated with the Exit Planning Institute except through Austin Collins’ CEPA® designation.