EP 007: In this episode of The Retirement Success in Maine Podcast we are joined by David Jean, CPA, Director at Altus Exit Strategies. In a previous episode, we discussed how hard it can be for owners and executives of businesses to exit to retirement with Susan Ware Page. We wanted to explore that conversation from another angle with David as his business is focused around helping those in this position – emotionally and financially. Some of the questions we discuss in this episode include: What is exit planning and who should be thinking about it? When should one start to engage with an exit planner and what steps are necessary to make an exit from an organization go smoothly? Are there certain characteristics of the state, both economically and demographically, that present challenges to this population? What are some themes around exit planning in Maine? Give the show a listen to find the answers to these and more!
What You’ll Learn In This Podcast Episode:
- Welcome David to the show and a conversation about him and his background. [1:30]
- Introduction to Albin, Randall,& Bennett and the relationship with Altus Exit Strategies. [8:30]
- A conversation about retirement success, and the elements of success needed as an owner transitions out of a business [12:20]
- Discussion about succession plans. What are the barriers to people? [18:30]
- Specific to Maine, what are the trends with businesses and succession plans? [29:30]
- Switching to retirement success, how does David see business owners approach that success? [36:29]
- Are business owners sacrificing their own personal retirement success in favor of the business’s success? [41:42]
- How does David see his own retirement success?[47:10]
Ben's focus with our clients is to direct the investments of their investable portfolios. In teaming with Curtis Worcester and Austin Minor, Ben combines his investment expertise from attaining the CFA Charter with Curtis & Austin's financial planning expertise to provide clients with the tools, confidence, and education to make informed decisions about their retirement. As Ben, Curtis, and Austin have a number of clients that are Northern Light Health employees, they've developed a specialty in serving clients in the healthcare field. You can read their "Employee Guide to the Northern Light Health Retirement Plans" here.
He has spent his entire career devoted to serving individual clients and institutions by developing and implementing investment strategies, setting portfolio structure, and providing the highest level of client service. He's passionate about helping clients maximize their savings and retirement income using the many financial planning and portfolio management tools available to Guidance Point consultants. Prior to working for Guidance Point Advisors, Ben worked for Acadia Trust, N.A., a subsidiary of Camden National Corporation, as Vice President, Portfolio Manager based in Bangor, Maine. Ben assumed responsibility for and oversight of over $300 million in client portfolios, including individuals, families, retirement plans, endowments, foundations, businesses, and trusts; and he served on the Company’s Investment Committee.
