How To Differentiate Your Advisor Practice

Fri, 03/18/2022 - 09:29



When business owners decide to exit their businesses, they often don’t know where to turn for help. Unfortunately, many of the advisors that they’ve consulted for other business matters lack the experience and tools to guide through the process successfully. That’s why it’s more important than ever for advisors to identify the great opportunity Exit Planning adds to their practice. Not only will owners successfully transition out of their businesses, but the advisors with Exit Planning expertise will be uniquely positioned to be the trusted advisor that helps guide them.

There are likely many advisors in your area that have expertise in different aspects of the Exit Planning Process. What allows Exit Planning Advisors to stand out is the understanding of how these aspects work together to help business owners reach their goals. Now imagine each business owner you successfully implement a plan for, and each advisor on that team that supports in a successful ownership transfer. After experiencing success firsthand, they will tell other business owners in their network about the process their Exit Planning Advisor used to achieve their goals. 

Advisors equipped with Exit Planning takes their practice a step further than general advisors and that competitive advantage will attract the attention of even more business owners.

What are the Roles of an Exit Planning Advisor?

An Exit Planner develops an Exit Plan for business owners and helps execute the plan to its conclusion. What separates Exit Planners from other advisors is the use of a roadmap and an Exit Planning Process that is backed by an expert team of advisors.

You can stand out only if your approach is compelling and fulfills the client’s need. In this case, Exit Planners identify problems affecting business owners and solve them through a proven process.

Ask Questions that Help Owners Discover Areas of Concern

Business owners don’t just hire advisors because it’s a common trend or they love the idea. They only spend money on problem-solving solutions that will ensure their goals are met. Unless you can illustrate how you can be an asset to them, a business owner has no reason to work with you. They can continue working without advisors or stick to their existing ones.

Exit Planning Advisors ask owners specific questions to identify issues that may hinder the development of their companies or uncover goals the owner didn’t realize they had. The advantage that advisors have when they approach planning issues through an Exit Planning lens is to make sure decisions are made that protect the owner’s wishes for their desired exit path and their financial security.

Provide Solutions to the Discovered Problems

Identifying an owner's most pressing problems is only the beginning. You're required to make radical progress in the determined exit path and address each challenge appropriately. Exit Planners can help owners resolve their pressing business issues one at a time by making well-informed Recommendations that align with the owner’s exit objectives.

Pivot When Necessary if Problems Arise

The most powerful trait of Exit Planners that attracts clients is their ability to revise and change tactics when needed. Whether a business owner needs to change plans because of an unexpected health problem, market changes, or a global pandemic, an advisor skilled in Exit Planning can help them shift their plan before it’s too late.

To become the go-to advisor for business owners, you’ll need the tools and training beyond those offered by your profession. That’s why BEI developed tools that can be implemented into your existing practice to give you a better way to plan with clients.

Why Exit Planning Advisors Matter to Business Owners

Owners seek the help of qualified Exit Planning Advisors for many reasons, some of which they may not even realize they need or want until after they’ve agreed to do planning work. Keep these reasons in mind as you are speaking with potential clients.

Exit Planning Advisors Work for the Benefit of Business Owners.

Exit Planning Advisors work according to each business owner’s goals. The advisor’s expertise doesn’t dictate what exit path they advise the owner to take. The owner’s goals do. Advisors gather data to help owners establish their aspirations and work with them to create a customed plan for their business and needs. They use the collected data to determine the gap between the owner’s current resources and those they require to achieve the post-exit life they desire.

Exit Planning Advisors Stick to a Timeline

Exit Planning is a long process, spanning many years, with numerous steps in different stages. Using a roadmap as a visual to the business owner will help keep them on track, especially when the day-to-day operation of the business becomes a distraction. Exit Planning Advisors can choreograph the activities and advisors on the team to ensure the timeline goal of the exiting owner is met.

Exit Planning Advisors Are Great Project Managers

A successful Exit Plan will undoubtedly involve several advisors with different areas of expertise. Exit Planners guide these other advisors to amend or revise recommendations based on the owner’s exit objectives. They also create documents, assign tasks, and coordinate with the business owner to plan successful exits from start to finish. Having a centralized location, such as EPIC (The BEI Exit Planning software), to schedule the sequences of activities and responsible parties will keep the implementation of the Exit Plan on track.


  • Business owners will exit their businesses, whether planned or unplanned, due to an unexpected event or by their design. Without an Exit Plan in place, the outcomes might be far less than desirable for their businesses and family.
  • Advisors can differentiate by adding Exit Planning to their existing practice, capitalizing on their existing relationships with their clients.
  • Advisors can use Exit Planning to stand out if they are able to provide detailed solutions, manage processes and expectations while working toward the goals of the business owner.
  • Business owners are more motivated to work on their business exits when they understand that their advisors can help them resolve their issues.


To learn more on how BEI can provide you with applicable solutions, schedule a meeting or contact us!  

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