All About Certified Exit Planners (CExP)

A certified exit planner (CExP) helps business owners plan for their eventual departure from the company they helped grow. It can be a difficult process and many business owners, still hard at work, may feel it’s unnecessary. But a clear exit plan helps sell the business at maximum profit, take it public, or transfer ownership. 

A financial advisor can help you determine if this specialized consultant is necessary for your business.

What Does a Certified Exit Planner (CExP) Do?

Exit planning sits at the intersection of several specialized disciplines, and CExPs train to navigate all of them. These include business valuation, ownership transfer structuring, tax-efficient sale strategies, post-exit financial planning, and continuity planning to protect the business during the transition period. The credential supplements advisors who already hold professional designations, such as CPA, CFP® or attorney. It deepens their ability to guide business owners through one of the most consequential financial events they may face.

A business owner who engages a CExP could expect help with determining what the business is worth today. They can help clarify personal and financial goals for life after the exit, and explore your different departure paths. You can also enlist them for building a written plan that accounts for legal, tax and operational considerations. The CExP makes a great point person for leading the attorneys, accountants, and wealth managers who carry out the strategy. In many cases, more than one exit plan may account for different scenarios or timelines.

Who Needs a CExP?

This credential suits those who need someone to help with situations that carry significant complexity or risk. Examples include a founder-dependent business that would lose value without a structured transition. Or co-owners who disagree on timing or terms in a company with no formal succession plan. Businesses approaching a potential sale without a recent independent valuation should also consider a CExP.

A CExP’s training helps position a company for acquisition over a multi-year horizon, or during transfer of ownership. They prioritize tax efficiency for unexpected buyout offers and can evaluate whether sale proceeds will fund the owner’s retirement. A CExP could also help when an owner needs to exit sooner than expected due to unforeseen circumstances.

It is worth noting that the CExP credential focuses specifically on the exit itself. It doesn’t cover comprehensive wealth management or ongoing investment advice. Business owners who also need help with retirement income planning, estate strategies, or portfolio management after the sale may want to work with a CExP in coordination with a broader financial planning professional.

How Much Does a Certified Exit Planner (CExP) Cost?

The cost of working with a CExP can vary considerably. It depends on the advisor’s underlying practice, the complexity of the business, and the scope of the exit planning engagement. Some CExPs charge a flat project fee to develop a written exit plan. Others bill hourly for consulting sessions or use a retainer model for engagements that span months or years. In cases where the CExP also manages the owner’s personal investments, an assets-under-management (AUM) fee may apply.

Because exit planning addresses what may be the largest single financial transaction a business owner ever undertakes, advisors with this specialization may price their services differently than generalist financial planners. The stakes involved in getting the valuation right, structuring the deal favorably and minimizing the tax liability can justify a higher fee relative to engagements that carry less financial consequence.

Review your potential CExP’s Form ADV Part 2 to learn about their fee structure. All registered investment advisers must file this disclosure document with the SEC. The SEC’s publicly available Investment Adviser Public Disclosure database outlines advisor compensation, their covered services, and whether any conflicts of interest exist ¹ . That said, many CExPs practice as consultants, accountants or attorneys rather than as registered investment advisers, so Form ADV may not be available in every case.

Business owners considering a CExP may want to ask a few direct questions before committing. How does the advisor structures fees for exit planning versus other services? Do they price plan development and implementation support separately? What role will other professionals play and who bears those costs? Does the fee arrangement change as the engagement progresses? Having a clear picture of total costs early in the relationship can help an owner decide whether the engagement is the right fit.

Who Can Become a CExP?

Most prospective CExPs already are advising businesses in some capacity and have an existing professional designation. Approved credentials include certified public accountant, certified financial planner, certified life underwriter, chartered financial analyst and attorney. There are many specializations within these fields (such as business brokers, management consultants or family business advisors) that also qualify.

Essentially, CExPs have chosen to develop a skill set above their established credentials. The training helps them advise business owners on valuing the business, transferring ownership, maintaining continuity, handling the financial proceeds and related matters.

How Do You Earn a CExP?

Like many professional certifications, a CExP requires completion of a standard curriculum, passing tests and maintaining good standing through continuing education.

It starts with a two-day workshop that candidates can complete online or in a live setting. These “boot camps” teach participants how to market exit planning services, how exit planning can build a client base and generate additional revenue, how to create exit plans, and lead or participate in exit planning advisor teams.

Next comes an advanced exit planning course series, which has nine online modules. Each is a specialized knowledge set, but in aggregate the modules focus on assessing current value of the business and its assets, identifying and refine owners’ objectives and advising on multiple types of exit plans. There are tests after each module ends and final case study exams. Students also must create two sample exit plans using BEI’s plan creating software.

Once accredited, CExP holders must take 30 hours of continuing education every two years to maintain their certificates. ²

How Much Time and Money Is Required to Earn a CExP?

The CExP requires considerable investments in money and – especially for working professionals – time. Students have 12 months to complete the advanced courses, which by BEI’s estimate should take 100 to 120 hours of study. The total cost of CExP certification is $7,290. The initial bootcamp costs $1,495 and the subsequent advanced course costs $4,000. The third and final piece is the exam which comes with a $1,795 fee. ³

Are There Certifications Comparable to CExP?

There are many certifications for accountants, valuation consultants, appraisers and others who work with businesses on exit plans. However, besides the CExP there are just two widely held certifications specifically designed for business exit planners.

The certified exit planning advisor (CEPA) certification from the Exit Planning Institute requires enrollment in a five-day course that costs $2,600. Prerequisites include five years work experience in a related field and a four-year college degree or equivalent experience. ⁴

Certified business exit consultant (CBEC) is a certification from Pinnacle Equity Solutions that consists of a series of nine weekly online seminars. The course costs $3,000. Before taking the first class, students have to complete a 10-hour core training course presented either live or online. ⁵

Bottom Line

The certified exit planner certification demonstrates that a professional business advisor can assist with planning and deploying an exit strategy in accord with the owner’s wishes. For financial advisors, it can be an important value-add to existing relationships with business owners, especially since CExPs can assist in strategy execution.

Tips for Business Owners

• CExP is a trademarked title that belongs to BEI. So if you are seeking exit plan advice, you might begin by exploring the BEI website and determining if its philosophy and course of study is aligned with your preferences and needs.
• It’s important for business owners to establish a trusting, productive relationship with professionals who serve their business interests. But finding the right financial advisor that fits your needs doesn’t have to be hard. SmartAsset’s free tool matches you with vetted financial advisors who serve your area, and you can have a free introductory call with your advisor matches to decide which one you feel is right for you. If you’re ready to find an advisor who can help you achieve your financial goals, get started now.

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