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Financially Simple Bizcast

The Financially Simple podcast is your one-stop resource for small business owners. Gain unique insights into growing, refining, and selling businesses. You will hear ways business owners have reduced their tax liabilities, increased their income, improved office morale, saved for the retirement of their dreams, and more.
Host Justin Goodbread is a serial entrepreneur, award-winning CFP® (Certified Financial Planning professional), CEPA® (Certified Exit Planning Advisor), and CVGA® (Certified Value Growth Advisor) with years of experience guiding business owners from start to exit in their business.

Mar 22, 2018

In episode 40 of Financially Simple, Justin talks to Ben Wells about ESOPs.

Ben Wells is an attorney at Law and a certified CEPA. Justin talks to Ben about Employee Stock Ownership Plans or ESOPs - what they are, how they work, and who they’re right for.

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00:30 - Ben Wells, Attorney at Law and CEPA

01:05 - ESOP Specialisation

01:48 - What is an ESOP?

04:01 - Why is the prevalence of ESOPs so low?

05:11 - Who is a candidate for an ESOP?

07:05 - The minimum requirements of a candidate

08:39 - Is there criteria for employees?

10:32 - Company Value vs. ESOP Payout

14:55 - Why wouldn’t someone use an ESOP?

16:33 - Do owners that continue to work lose out?

17:59 - How much does it cost?

19:30 - Can an ESOP specialist work remotely?



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Neither Financially Simple, LLC nor its affiliates offer tax or legal advice. Interested parties are strongly encouraged to seek advice from qualified tax and/or legal experts regarding the best options for your particular circumstances. Justin Goodbread, CEO of Heritage Investors, LLC, a Registered Investment Advisor, is an Investment Advisor Representative who offers advisory services through Heritage Investors. The information contained within the podcast is for informational purposes only and not considered investment advice. Seek help from a competent Financial Advisor.