Certification for ‘exit planners’ little known in the advice industry

An obscure designation called the Certified Exit Planner may be one way financial advisers who work with business owners can distinguish themselves from the average planner.
It also may help them when it comes time to develop a succession plan for their own firms.
The six-year-old certification program, overseen by the Business Enterprise Institute, teaches a seven-step exit process to those who advise business owners, including financial advisers, financial analysts, accounting professionals and attorneys.
(More: CFA Institute reveals sinking pass rate of 53%)
“The program is ideal for anyone who works with business owners and wants to help them with eventually exiting the business,” said Lisa Fannin, marketing coordinator for Denver-based BEI. “It offers training in business valuation, growing the value of a firm, and all the tax and legal implications of transferring a business successfully.”
About 190 people have attained the designation and about 56% of those are in the financial industry, Ms. Fannin said.
The CExP has a 68% pass rate and requires attendance at a two-day training session, completion of 10 online courses and 30 hours of work creating written exit plan strategies.
(More: Why more graduates aren’t sitting for the CFP mark)
Roger Verboon, director of succession, continuity and acquisition planning at Securities America, said it took him almost six months to complete the certification program. He uses the training to help Securities America advisers transition their books of business, but he sees a bigger value for the program: helping advisers head up exit teams that typically include attorneys, tax and insurance professionals.
“This training could help financial advisers who work with clients selling their businesses be the quarterback of the team,” Mr. Verboon said. “I have suggested to a number of advisers that they look into the certification.”