As one generation of management approaches its end, the life of the family business is jeopardized. According to the Exit Planning Institute, only about 30 percent of family businesses transition to the second generation. Twelve percent make it to the third generation, and only 4 percent make it to the fourth generation and beyond.
When a company is ready to evolve, leadership must adapt or bring in new management. If the growth is not transitioned correctly, the business will suffer.
In addition to business changes, some companies must also successfully handle the family transition. These family problems are not included in business school courses, but ignoring these realities can be ruinous for the family and the company.
HawsGoodwin Wealth, an independent financial planning and investment management firm, announced today that President and Managing Partner Cam Goodwin successfully achieved the Certified Exit Planning Advisor (CEPA) designation, the most widely accepted and endorsed professional exit planning certification program in the world.
Erik Owen. Photo courtesy of the Wisconsin Chapter of the Exit Planning Institute.
Milwaukee, Wis. and Madison, Wis. – January 28, 2021 – The Wisconsin Chapter of The Exit Planning Institute (EPI) has named its leadership board for 2021-2022.
Erik Owen, president of EPI Wisconsin, said, “The Wisconsin Chapter of the Exit Planning Institute is a dynamic, growing group of professionals that are passionate about educating business owners and advisors about exit planning. We continue to host great education opportunities and now, with a strong core group, we are focused on building a broader community of professionals for referrals as well as enhancing the teamwork necessary to execute the mission of superior exit planning.”