How a Strong Advisory Team Can Make All The Difference

The transition of company ownership, whether internal or external, is a complex process. At DWH, we often work closely with business owners who are contemplating an ownership transition. Today, we’re providing an outline for building an “A” team that can make all the difference in ensuring a smooth, successful transition (as opposed to one that is chaotic and unsettling)

Suggested members of a strong advisory team include: 

  1. Succession/Transition Advisor – This advisor supports the business owner by developing a transition plan, which includes the identification of opportunities to maximize the business’ value, and then helps facilitate the execution of the plan. 
  2. Mergers & Acquisitions (M&A) Attorney – Transactions can have a significant amount of legal complexity, so engage with an attorney that specializes in M&A activity in your industry and can support your team throughout the process. 
  3. Certified Public Accountant (CPA) – Many owners do not consider the impact of taxes on the proceeds from a transaction until it is too late. Have a CPA with M&A experience get involved early in the process. 
  4. Wealth Advisor – The wealth advisor works with the owner to develop a plan for managing the proceeds of the sale to achieve ownership goals.   
  5. Estate Attorney – In conjunction with the wealth advisor and CPA, an estate attorney can help an owner and their family establish a structure that minimizes taxes and protects wealth for the current and future generations. (We will cover estate planning in-depth in a future article.) 
  6. Investment Banker – The investment banker will help prepare offering documents, bring the company to market, vet potential buyers, and guide the company through the sale process. 
  7. Valuation Advisor – Many transactions fall apart due to misalignment in the purchase price. The valuation advisor provides owners with a comprehensive valuation of their company based on the company’s performance, asset valuation, and/or market comparisons. (We cover business valuation methods in this article.)

Key Takeaways

By assembling an experienced team of advisors to provide support through the transition and transaction, you’ll gain the satisfaction of knowing your company is in good hands. Owners should have an experienced team of advisors in the transition of ownership to assist with:  

  • Determining the desired outcome of a transition; 
  • Cultivating a mindset of transition thinking from an owner’s point of view while focusing on maximizing the value of the business; and 
  • Understanding the value of the business and the ways to maximize it; increase cash flow and minimize risks. 

Additional Reading


To learn more about our strategies for Growth & Transition, click here.


This post was written by Heather Gardner | LinkedIn

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