Many business owners invest deeply in their businesses, and when the time comes to transition, whether to retire, start something new, or hand over the reins, the process can be complex. Two of our professionals at Fragasso have recently earned the Certified Exit Planning Advisor (CEPA) designation, which better equips them to help business owners plan and execute successful exits.
This certification, offered by the Exit Planning Institute (EPI), enhances the advisor’s ability to engage with business owners, focusing on building company value, aligning personal goals, and considering all aspects—financial, emotional, and operational—of the transition process.
In this Q&A, we’ll provide a comprehensive overview of the certification and how it can ultimately help benefit our clients.
Bryan Reft, CFP®, CEPA®
What encouraged you to pursue the CEPA® designation?
I’ve always admired business owners. I believe that it takes a lot of courage and determination to follow their dream and build something from the ground up, or in some cases continue a business as a second or third generation owner. It’s an amazing accomplishment. Although I am not a business owner in perhaps the traditional sense of the term, we are an employee-owned company, and so I get to experience the privileges, and challenges, of being an owner myself. I began researching business transitions and exit planning, and after reviewing the statistics, I was floored by how often owners are unsuccessful at exiting their business on attractive terms to them and their family.
How is this designation obtained?
It was obtained through an organization called the Exit Planning Institute, or EPI. There is a program that they offer which consists of coursework through self-study and online classes. After the coursework is complete, there is an exam that you need to pass to obtain the credentials.
What are the yearly education requirements to maintain your credentials?
There is a continuing education requirement of 40 hours of exit planning professional development which needs to be completed every 3 years. Along with continuing education, there are professional and ethical standards that must be adhered to as well.
How can the skills you developed help clients navigate a successful business transition more effectively?
By helping owners plan for their exit today. That may sound a bit strange at first, but after obtaining this designation, I’ve come to believe that a big reason why business owners fail in transitioning their business is because that they don’t plan for their exit soon enough. The one thing we can never get back is time. Proper planning today can help increase the value of your business at the time of exit, as well as expand the exit options available to you.
Christine Robinette, CFP®, CPWA®, CEPA®
What encouraged you to pursue this designation?
At Fragasso Financial, we have had the privilege of guiding many small business owners through their financial journeys. Over the years, we have witnessed their dedication and passion in building their businesses. As they approach retirement and begin to consider how best to transition their business—whether that means maximizing its value or passing it on to family—we recognized the need to deepen our understanding of their unique challenges. Transitioning a business requires meticulous planning and expert guidance to align one’s business, personal, and financial goals.
Who can benefit from working with a CEPA® advisor?
It is vital that every business owner engages in a structured and comprehensive planning process before transitioning their business. Navigating an exit plan is complex and emotional. A CEPA® takes an integrated approach to exit planning. A CEPA® can be the quarterback of this process to guide all professionals involved in developing a personalized exit strategy that considers your financial needs, family dynamics, and long-term goals.
What does it mean to you to be a CEPA®?
When I was a financial advisor for almost 20 years with our firm and now the manager of our client experience, every decision I made in the past and make now is guided by what is best for our clients. The decision for Bryan and me to get the CEPA® certification was made to deepen our knowledge of succession planning, to provide our clients with a holistic and comprehensive approach to one of the biggest decisions of their lives.
