1153 – Truly Impactful Wealth Transition Planning with Interchange Capital Partners’ Ahmie Baum

Apr 3, 2022

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In this episode of the Thoughtful Entrepreneur, your host Josh Elledge speaks to the founder and CEO of Interchange Capital Partners, Ahmie Baum.

Interchange Capital Partners works in a specialized area of transition planning by unlocking a lifetime of work. They work with business owners, medical professionals, accountants, and other professionals in order to help them manage their financial affairs and generational wealth building with optimum efficiency. Making mistakes with wealth building can impact generations of your family, and getting it right requires a different model and approach than what’s considered the standard. Interchange Capital Partners has worked with hundreds of business owners and professionals to help them ‘get it done right’.

Josh and Ahmie explore how business owners tend to have the bulk of their wealth tied up in their business. This is typically because they want to retain control and stay away from risks like the stock market. It’s a common phenomenon and an important challenge to overcome so that business owners can diversify how they structure their wealth.

Family businesses tend to be even more complex, especially when it comes to wealth structuring. There are stages and different systems that have to coexist and interchange between one another. Any one system by itself can have different values, stakeholders, and missions. This leaves room for significant conflict, which makes it by nature incredibly complex. Interchange Capital Partners focuses on alleviating these challenges, especially for family businesses. As a business owner, you have to be objective enough to be able to work through the significant number of issues that come with a transition for a family business owner.

According to their website, Interchange Capital Partners applies data-driven strategies to help their clients increase the likelihood of successful transitioning. Through their collaborative and comprehensive process, they help clarify a business owner’s current situation and develop a clear vision for achieving their desired future.

Most exits happen internally between the family and management, Ahmie shares. Exit, succession, and transition planning should be done from day one. This is so you can be prepared for the inescapability of a liquidity event. If you prepare for this often, it’s simply good business.

Oftentimes, people don’t pull back and assess where they really need to spend the time to optimize their wealth and finances. If there isn’t clarity around the business owner and the family’s ownership, succession planning cannot go smoothly. You have to infuse business principles into your succession plan through clarity, understanding, and action.

Want to learn more? Check out Interchange Capital Partners’ website at https://interchangecp.com/.

Check out Interchange Capital Partners on LinkedIn at https://www.linkedin.com/company/interchange-capital-partners/. .

Check out Ahmie Baum on LinkedIn at https://www.linkedin.com/in/ahmiebaum/.

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