Ten Questions to Ask Your Exit Planning Advisor
How to know you’ve got the right guide for your business transition
If you're a business owner, chances are you've heard how important it is to start planning your exit early. But with so many professionals offering advice, CPAs, attorneys, financial advisors, how do you know who’s actually qualified to lead you through the full process of exiting your business on your terms?
That’s where a Certified Exit Planning Advisor (CEPA) comes in.
CEPAs are trained through the Exit Planning Institute (EPI) to take a holistic, value-focused approach to exit planning. Rather than just handling taxes or legal documents, a CEPA works with you to build an intentional strategy that connects your personal, financial, and business goals.
Here are ten key questions to ask your exit planning advisor to make sure you're working with someone who can truly quarterback your transition:
1. Are you a CEPA?
The CEPA designation means your advisor has completed rigorous training through the Exit Planning Institute and understands the Three Legs of the Stool: Business, Personal, and Financial readiness. This is a foundational step in choosing someone who sees the full picture.
2. What’s your experience working with business owners like me?
Exit planning isn’t one-size-fits-all. Ask about their experience with businesses of your size, industry, and structure. Do they understand the emotional side of letting go, or the family dynamics that may be involved?
3. How do you coordinate with my CPA and attorney?
Exit planning is a team sport. While attorneys handle legal documents and CPAs focus on taxes, a CEPA-led advisor should act as a project manager, making sure everyone is rowing in the same direction with your goals at the center.
4. How early should I start planning my exit?
Spoiler alert: the answer should be “as early as possible.” Ideally, you’ll start building your exit strategy 5–10 years before a potential transition. The earlier you start, the more options you have.
5. What is your process for exit planning?
Look for a clear, step-by-step process that includes assessments of your business value, personal financial planning, and exit options. A CEPA will usually begin with a business owner assessment and value gap analysis.
6. Do you help increase the value of my business before I exit?
A good advisor won’t just help you sell what you have, they’ll help you build something worth selling. Ask how they identify and improve intangible value drivers like systems, leadership team, and customer diversification.
7. Can you help me understand all my exit options?
Too many business owners default to a sale without considering alternatives like family transitions, management buyouts, ESOPs, or partnerships. A CEPA will help you explore and compare the pros and cons of each.
8. How will you help me prepare financially for life after the business?
Your exit plan should connect directly to your personal financial plan. Your advisor should be able to model what life looks like post-exit, from income streams and tax strategy to legacy planning and lifestyle goals.
9. Do you have experience with succession planning or family business transitions?
If your transition involves family members or internal leadership, things can get emotional fast. Ask whether your advisor has experience navigating these conversations and keeping relationships intact.
10. How do you measure success in an exit plan?
The best advisors don’t just aim for a high sale price, they define success based on your goals. Whether it’s financial independence, keeping the business in the family, or starting your next chapter, make sure they’re building the plan around you.
Exit planning is more than a financial transaction, it’s a life transition. Surrounding yourself with the right team is essential, and your lead advisor should be someone trained to see the big picture.
If you're looking for a CEPA who can help quarterback your team and create an exit strategy that works for your life, not just your business, let’s talk.