Exit by Design: Integrating Elite Wealth Management and Proactive Business Exits to Secure your Freedom
"Planning is bringing the future into the present so that you can do something about it now." – Alan Lakein
In this podcast episode, I welcome Joe and Marissa LoPresti, the father-daughter co-authors of "Exit by Design: Integrating Elite Wealth Management and Proactive Business Exits to Secure your Freedom".Their book introduces an integrated approach to wealth management and business exit planning, aimed at securing financial freedom for business owners.
They explore the concept of the 'freedom point' and the role of virtual family offices, providing insights into achieving a strategic and fulfilling exit from business.
Joe and Marissa LoPresti's Background
Joe started his career on Wall Street, then moved on to create his own wealth management firm, Arlington Wealth Management. Inspired by her dad's entrepreneurial drive, Marissa was drawn to finance and eventually teamed up with Joe in their family business.
Joe and Marissa noticed a lack of resources combining business exit strategies with wealth management. They decided to write a guide to help business owners strategically plan for every phase of ownership.
Key Concepts from "Exit by Design"
Strategic Collaborations: Joe and Marissa highlight the significance of synergy between various advisors. Collaborations among CPAs, financial advisors, and other professionals create a holistic service model that addresses all aspects of the owner's financial health and business value.
The Freedom Point: A central concept introduced is the 'Freedom Point,' the juncture at which an owner has amassed sufficient wealth to live their ideal lifestyle indefinitely. Reaching this requires strategic, early planning well before contemplating the sale of the business.
Virtual Family Office: Another innovative solution presented is the virtual family office. This model assembles a bespoke team of experts across different fields, acting as a personal CFO to cater to the unique needs of business owners, ensuring a comprehensive approach to wealth and business management.
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The Future of Business Exit Planning
Joe and Marissa envision a future where integrated planning is the norm. They advocate for a shift towards strategic tax planning and pre-sale preparation, enhancing business value and solidifying the financial future of business owners. Through educational outreach, they aim to set new standards for success in business exit planning, advocating for early and comprehensive strategies.
In Conclusion: The insights from "Exit by Design" are more than just strategies; they are a roadmap to achieving the ultimate goal of financial freedom and fulfilling life post-business exit. The conversation with Joe and Marissa LoPresti has been a revelation, emphasizing the importance of early, integrated planning and the power of strategic collaborations. As we navigate our paths towards securing our freedom points, let their wisdom guide us to make informed, strategic decisions that pave the way for a prosperous future.
About Our Guests:
You can learn more about their work at:
About Your Host:? Paul G. McManus is an accomplished author and expert in helping financial professionals grow their businesses. With over eight years of experience working exclusively with financial professionals, Paul has helped his clients generate tens of millions of dollars in fees and commissions.
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Founder, Arlington Wealth Management | Integrating Elite Wealth Management with Proactive Business Exits to Secure Your Freedom
8 个月Every entrepreneur will exit their business one day. Proactively preparing for your exit and coordinating it with your personal wealth plan will help you take control over your freedom and legacy. If you don’t exit by design, you’ll exit by default.