Business Succession Planning Explained: Exit Planning, Insurance & Small Business Strategy

Business Succession Planning, Financial Services & Insurance Industry Explained | Financial Planning: Explained Business succession planning is an important part of operating a business, especially for small business owners and business owners approaching retirement. This week on Financial Planning: Explained, host Michael Menninger, CFP® welcomes Michael Egan, ChFC®, founder of JME Financial Services, which merged with Menninger & Associates Financial Planning in 2019. In this episode, Michael Egan shares his background, how he entered the financial services industry, and how his career evolved over time. He discusses his experience returning from the Vietnam War, getting started with an insurance company, and building a career in financial planning and client service. Mike and Michael also discuss business succession planning and why it is important for business owners to think ahead about the future of their company. They explore how ownership transitions, client relationships, continuity planning, and retirement goals can all play a role in creating a successful succession plan. The conversation also touches on the financial services industry, insurance planning, cash value life insurance, death benefits, mutual funds, investment selection, and how the financial marketplace has changed over time. Michael Egan shares perspective from decades of experience helping clients navigate insurance, investments, and long-term planning decisions. Whether you are a small business owner, financial advisor, insurance professional, or someone interested in the history and evolution of financial services, this episode provides helpful insight into business succession planning, insurance, wealth management, and long-term financial planning. Topics Covered: Business succession planning Small business succession planning Financial services industry Michael Egan, ChFC® JME Financial Services Menninger & Associates Financial Planning Insurance industry career Vietnam War and career transition Cash value life insurance Death benefits Mutual funds Investment selection Financial marketplace changes Business owner retirement planning Client relationship continuity Financial planning and insurance For more information on Menninger & Associates Financial Planning visit https://maaplanning.com. Meet Mike Menninger, CFP the host of Financial Planning: Explained https://maaplanning.com/who-we-are/ou... #financialplanning #cfp #businesssuccession