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The Family Biz Show


Nov 1, 2021

Ep 45: 8 Mistakes Family Businesses Make When It’s Time to Sell and Why it Matters

In this episode, we talk to the author of the “One Way Out” Dan Prisciotta* and discover when selling may or may not make sense to an outside party and how to prepare your business to maximize it’s value. We’ll also cover:

  • How does the “One Way Out” process work? Obviously, there are many ways to transfer a family business…which one is best for me?
  • What are the 5 Exit Paths and how do I choose one?
  • How do I continue to grow my business and protect it for my family if something happens to me before I transfer or exit?

This Weeks Guest

DAN PRISCIOTTA* CFP®, CPA*, ChFC, CBEC

Author of “One Way Out – How to Grow, Protect, and Exit from Your Business”

With over 30 years of business exit, financial and estate planning experience, Dan Prisciotta delivers a superior level of commitment and expertise necessary to create situation-based financial strategies and translate them into immediate, actionable steps. He puts a premium on all of his relationships and he believes that a successful engagement can only be realized through a shared vision.

By partnering with his clients, Dan is able to help them put their financial houses in order. Having worked on more than 2,500 cases, his breadth and depth of the steps required throughout the planning process enables him to explore multiple design scenarios before presenting the appropriate client-tailored options – no cookie cutter solutions!

Dan understands your desire to grow your assets and reach financial independence with certainty and tax efficiency. He recognizes your need to build your business and plan for your future exit. Dan shares your passion for leaving a legacy to your loved ones.

As an active member of the financial, business and estate planning community, Dan is always on the cutting edge of industry changes and innovations. He holds the designations, certifications and affiliations listed below:

  • CERTIFIED FINANCIAL PLANNER™ (CFP®)
  • Certified Public Accountant (CPA)*
  • Personal Financial Specialist designation (PFS)
  • Chartered Financial Consultant (ChFC®)
  • Certified Business Exit Consultant (CBEC®)
  • American Institute of CPAs (AICPA)
  • NJ Society of CPAs
  • The Alliance of Mergers & Acquisitions Advisors
  • MidMarket Alliance
  • National Association of Estate Planners & Councils (NAEPC)
  • Society of Financial Service Professionals (SFSP)
  • Financial Planning Association (FPA)
  • Sagemark Consulting’s Private Wealth Services** and Resource Group***
  • Registered Securities Principal and Representative
  • Certified Continuing Education Instructor for CFP, PACE, CPA, CRPC, SFSP in multiple states

Dan is a much sought after speaker on the topics of Business Exit Strategies and Financial and Estate Planning and has presented at numerous industry and association events. He has been interviewed by CNN Business News, WFAS Financial Radio and quoted in Wall St. Journal, Fortune Small Business and LA Times.  Dan is the author of “Defend Your Wealth” and “One Way Out”.  Dan also is the owner of Prisco Financial and Equity Strategies Group.

Dan is a Magna Cum Laude graduate of Fairleigh Dickinson University with a B.S. degree in Accounting, and resides in Ramsey, NJ with his wife, Teresa and their two children, Michelle and Danny.  Dan Prisciotta is a registered representative of Lincoln Financial Advisors Corp. 

 

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*Licensed, not practicing accounting.

**Sagemark Consulting Private Wealth Services is a select member group within Lincoln Financial Advisors Corp. which focuses on clients in the high net-worth market.

*** The Resource Group is an invitation-only, nationwide network of the top 200 planners within Lincoln Financial Advisors.

Michael Palumbos is a registered representative of Lincoln Financial Advisors Corp.   Securities and investment advisory services offered through Lincoln Financial Advisors Corp., a broker/dealer (member SIPC) and registered investment advisor. Insurance offered through Lincoln affiliates and other fine companies.

Family Wealth and Legacy LLC is not an affiliate of Lincoln Financial Advisors Corp.

Prisco Financial and Equity Strategies Group are marketing names for registered representatives of Lincoln Financial Advisors Corp. 

CRN-6583572-042624