294) BEI Annual Conference – Nicholas Niemann and McGrath North

Nicholas Niemann and McGrath North

Norman A. Hood: “You come here a lot, right? I know you presented here.”

Nicholas K. Niemann: “I think this is my twelfth year down here with BEI Annual Conference. I enjoy coming back every year.”

Norman A. Hood: “You’ve done a lot of Exit Planning, I know.”

Nicholas K. Niemann: “I’ve been doing this for about 30 years.”

Norman A. Hood: “How do you find that Exit Planning helps your business clients?”

Nicholas K. Niemann: “What I did over the past couple decades, is really talk to a lot of business owners around the country and found out what are really the top things that you want to make sure you accomplish. What I found is that as these business owners enter their fourth quarter of their time in action as a business owner, there’s really four things that they want to accomplish.

One is to say: how do we continue to grow our business?

Second is: how do we make sure we protect what we’ve got? We’ve spent decades building our business. We want to make sure it’s there to pass on as we move into eventual retirement. So, how do we grow? How do we protect?

Third is: how do we control the process? So whether that’s controlling the process as we eventually transition the business, or as we look at our estate plan? How do we control that process to protect those financial assets for our family, as well as for the key members of our team that have helped us to get there.

And fourth is: how do we make sure we’ve created the opportunity to retire, if we want to retire eventually, and accomplish the goals that we’ve set out to do decades ahead.”

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