Succession planning is rarely simple, especially in family businesses where emotions, roles, and expectations can shift throughout the transition.
Certified Exit Planning Advisors (CEPA®) play a critical role in helping both sides stay aligned and focused on the shared goal of a successful ownership transition. That need is becoming even more pronounced as more business owners prioritize internal exit options, especially family transitions.
Why Succession Planning is so Important for CEPAs
As the demographics of business owners continue to shift, so has the preference for internal exit options, specifically family transitions.
According to the 2023 National State of Owner Readiness™ Report (SOOR), 70% of owners prefer an internal exit option. That’s a 23% shift from the 2013 SOOR, where less than half of surveyed owners preferred an internal exit.
For that 70%, the top exit option was a family transition, highlighting the importance of a CEPA in the succession planning process.
The Complicated Dance of Succession
Succession is a complicated process, in large part due to the emotions that can be involved in a family transition. The Exit Planning Institute’s® (EPI) 2024 Exit Planner of the Year, Amy Wirtz, describes this as the “Cha-Cha of Succession.”
In this dance, the parties involved, the first- and second-generation family members, take turns making moves inside the business. Amy describes a typical succession like this:
- The first-generation owner takes a step back, allowing the second-generation to take more control of the business.
- The second-gen owner begins to make changes to the way the business is run.
- As these changes are being made, the first-gen owner inches their way back into their original role. This happens because they are either not comfortable with the changes being made or their guidance is needed.
- The second-gen owner reacts to the return of the first-gen owner in a positive, or sometimes negative, way, and the dance continues.
“As exit planners and advisors, we have to help owners and family businesses plan their next steps,” Amy adds, “but also come alongside them when they backstep or sidestep—because they will.”
To read more from Amy, read the 2025 edition of the Annual Exit magazine here.
What You Can do Next
So, how can a CEPA help guide this “Cha-Cha” to a successful conclusion? For Amy, it’s all about listening to everyone involved and helping them work toward the shared goal of a successful transition of ownership.
“You have to be able to hear the pain points and the opportunities that owners are presenting, even if they don’t realize they’re presenting them,” she says. “Listening means more than just with our ears. It means with our eyes. It means with our heart. It means with our brain.”
For CEPAs looking to polish up on succession planning, the last two editions of the Annual Exit magazine are a great place to start. The 2025 issue features Amy and her approach to exit planning. The 2026 edition shines a spotlight on personal planning and features an interview with Judi Cunningham, focused on navigating family transitions.
To read both editions of Annual Exit, visit AnnualExit.com.
EPI also offers several EPI Academy courses focused on succession and family business transitions. These courses include continuing education (CE) credits, including Value Acceleration Knowledge Hours, CFP® hours, and CPE hours.
These courses are:
Succession planning is complex, but with the right guidance, advisors can help families move through the process with clarity and confidence.
To continue building your expertise, take advantage of the resources available from EPI and consult the greater exit planning community on the new CEPA Connect platform. Available for CEPA Plus and CEPA Mastery members, CEPA Connect is purpose-built to keep advisors in touch year-round. To learn more, read our CEPA Connect blog here.
About the Certified Exit Planning Advisor Credential
A Certified Exit Planning Advisor (CEPA®) is a professional credential for advisors who wish to engage with business owner clients through the exit planning process using the Value Acceleration Methodology™. Through the CEPA credential, advisors can provide new offerings for clients and stand out from their non-CEPA peers, all while gaining access to education, resources, and a vast network of like-minded professionals.
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