In this episode of The Accel Advantage Podcast, host Corey Rekers, Partner and President of Property & Casualty Insurance, sits down with Ryan Hervey, JD, Investment Adviser Representative, to unpack the three biggest barriers business owners face when planning for retirement, estate needs, and business succession: difficulty, time, and cost.

Ryan shares real-world examples, strategies for efficient and effective planning, all the moving pieces that are part of the process, and more. Whether you’re a business owner, an executive, or simply planning your personal estate, this episode will give you the clarity and motivation to take the first step toward protecting your legacy.

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Chapters

00:00 Intro & Meet Ryan Hervey, JD

02:07 Understanding Obstacles in Business Succession Planning

04:52 Barrier One: Difficulty

06:09 The Role of Spouses in Succession Planning

08:38 Efficient Planning Strategies

10:57 The Importance of Legacy in Planning

11:48 Barrier Two: Time

15:22 Basic Estate Planning for Non-Business Owners

17:06 The Human Element in Financial Planning

19:48 Barrier Three: Cost

23:58 How To Get Started with Financial and Business Succession Planning

27:39 Conclusion

28:36 Outro and Disclosure

Keywords: financial services, business planning, estate planning, succession planning, retirement planning, financial advisor, business owner