Nearly 70% of business owners are still in early-stage planning or lack a formal succession plan, a gap Nicole Newman says leaves major financial decisions disconnected until a sale, retirement or transfer.
Newman argues the bigger risk is fragmentation rather than market volatility: attorneys, accountants and advisors handle separate tasks, but no one owns the full picture or aligns tax, estate, investment and banking choices.
Business sales can expose the cost most sharply, with owners often losing 30% to 40% of proceeds to taxes or missed planning opportunities when valuation, estate strategy and family considerations are not coordinated.
Her proposed fix is an integrated framework that starts with client goals, assigns clear responsibility for coordination and regularly updates plans so specialist advice reinforces a single long-term strategy.