Episode 267: The Exit Planning Mistakes Owners Make Too Late

Selling a business can create life-changing wealth, but without the right planning, the transaction itself may be the easiest part of the transition. In this episode of the Registered Investment Advisor Podcast, Seth Greene interviews Michael “Mic” Lundon, CEPA®, J.D., Founder and Managing Director of Evertern Wealth, who shares what business owners should consider years before a potential sale, including financial planning, tax strategy, estate planning, succession, and reducing the company’s dependence on the founder. He explains why a successful exit requires more than getting the highest offer and how owners can determine whether a sale will actually support the life they want afterward. Michael also explores how to manage wealth after a liquidity event, build the right advisory team, prepare for the emotional transition out of the business, and plan for future generations. Key Takeaways: → Business owners should begin preparing for an eventual exit several years before they expect to sell, rather than waiting until a transaction is already approaching. → Exit planning should coordinate financial, business, tax, and estate planning so major decisions are not made under time pressure. → Entrepreneurs often have much of their wealth concentrated in their businesses and may need to relearn investing, tax planning, and estate planning after a liquidity event. → A successful exit depends on thoughtful planning, not simply completing the sale of the company. → Reducing dependence on the founder can make a business more transferable by creating strong management, documented processes, and broader organizational responsibility. Michael “Mic” Lundon is the Founder and Managing Director of Evertern Wealth, where he provides portfolio management, financial planning, and guidance on estate, trust, and business transition matters. He works closely with business owners, senior executives, and multigenerational families, delivering personalized advice for clients with complex financial needs. Connect With Michael: Website: https://www.everternwealth.com/ LinkedIn: https://www.linkedin.com/company/everternwealth/ https://www.linkedin.com/in/michael-lundon-661b681/