In this episode of “Show Me The Way,” Dave sits down with Dave Enenbach, President and CEO of Enenbach & Associates Financial Consultants, Inc., to discuss the ins and outs of wealth management advising for ultra-affluent clientele. They talk through different ways to know whether growing or selling your business is the better option, and the importance of having a plan for when you retire.

Dave asks his guest to discuss his background and early career.

• Dave Enenbach discusses his history graduating with a degree in accounting, becoming a CPA and working at a local CPA firm.

Dave then asks him to get into the details about his strategy for acquiring and helping clients.

• Dave briefly touches on the history of his current industry, how ultra-affluent families needed a full time wealth advisor.

Dave asks how he is able to help them grow their business, or whether they are all essentially liquidated and then he helps with the investment portfolio.

• He says that he has one client with an ongoing business, noting that two others have had businesses monetized and are entering completely different industries.

Dave asks him to share the good and the bad, the difficulties and disappointments, of helping people get their companies ready to sell.

• Dave Enenbach starts by saying they would have all benefitted with more planning, and explains how it could have helped them.

After further discussion, Dave asks Dave Enenbach about his experience on why certain acquisitions don’t work.

• He says because they aren’t the right match or the deal isn’t quite right.

Dave follows that discussion by asking Dave Enenbach what has been the most exciting part of his job, between aiding with the process of selling a business or going beyond that moment.

• Dave Enenbach uses an analogy to describe the excitement behind selling a business, adding that it is a moment that should be celebrated.

Dave asks for a few pieces of advice that the listeners can take with them when they think it’s time to sell their business.

• He says to begin by making a list of the most important things to you, because that can help you to determine whether you need to control the price or the terms of the agreement.

To get in touch with Dave Enenbach, go out to his website: www.enenbachconsulting.com

To reach out to Dave for advice or consultation, please visit www.davidseitter.com or email him at [email protected]

Disclosure

This podcast is provided for educational purposes. It does not constitute legal advice and is not intended to establish an attorney-client relationship. The recommendations contained in this podcast are not necessarily appropriate for every individual or business. In determining the best course of action, business owners should consult with an attorney on their distinct circumstances.