In this episode, Lorie and George have the pleasure of interviewing Kevan Herod of Herod Financial Services about Succession Planning for your business. We find out when should you start thinking about implementing a succession plan (this may surprise you), and how to develop an exit strategy successfully.
What’s In-Store for You:
Be prepared to laugh a little & learn a lot, because our guest today is both funny & smart.
So, grab a pen & paper (or open an Evernote doc), because this session is jam packed with valuable information that you don’t want to miss.
In case you were curious as to why you should tune in and listen to our Guest Kevan Herod, here’s a few details about his Professional History:
Kevan started in the business as a Field Management Assistant with North American Life Assurance Company on June 1, 1979. He left management in 1984 and set up Herod Financial Services. In 1994 Kevan formed a business partnership and operated under the name of Matthews and Associates Insurance and Investment Services Ltd. In 2004, he dissolved the partnership and put his business back under Herod Financial Services.
Herod Financial Services is a full service firm offering a full range of financial planning solutions. They are licensed in the life insurance business and in the securities dealerships.
Through out Kevan’s career, he has worked using a financial needs analysis model or financial and estate plan on which to base recommendations. His philosophy is that of a team approach to the financial and estate planning requirements of his clients. Kevan and his team work with the clients and their accountants, lawyers and other financial and estate professionals when developing a client’s estate and financial plan.
- 1979 – Bachelor of Science Degree from Trent University.
- 1981 – Life Underwriters Association Basic Training Diploma
- 1984 – Chartered Life Underwriters designation
- 1989 – Chartered Financial Consultant designation
- 1996 – Certified Financial Planner designation
- 1997 – Registered Health Underwriter designation
- 2007 – Certified Agricultural Farm Advisor
Kevan believes giving of his time and expertise is vital not only to himself, but to his community as well. Kevan’s volunteer involvement includes:
- Member of Advocis since 1979 and have held several positions on the executive
- President of the local Advocis Chapter in 1987, 2010, and 2011
- Member of Peterborough Estate Planning Council, serving as President and other committee chair positions in the past.
- Member of the Rotary Club of Peterborough Kawartha since 1984, currently as the treasurer.
- President of the Rotary Club of Peterborough Kawartha in 2005 and serving on many committees
- Member of the Trent University for the Planned Giving Advisory Committee
- Member of the Trent University Athletics Campaign, Corporate Division Committee
- Former member with the Allied Professional Advisor Council, Peterborough Regional Hospital Foundation Committee.
Membership in Professional Bodies:
- President of the Life Underwriter Association of Peterborough, 1987
- President of Advocis – Peterborough Chapter, 2010 and 2011
- Trent University – Planned Giving Advisory Committee – 2008 to present
- Peterborough Regional Health Centre Foundation – 2006 – 2010
- Rotary International – Peterborough Kawartha – Treasurer 2008 to present
- Peterborough Estate Planning Council – 19xx to present
Umm – WOW! Do you think he might know a thing or two about Financial Planning & Business Planning? As mentioned earlier – Kevan is a funny guy, and was pleasure to chat with, very down to earth, and passionate about what he does. Have a listen and let us know what you think.
Highlights and Takeaways Mentioned in this Episode:
Kevan is not only an expert on the topic of Succession Planning, but he’s also living through it as we speak, on both ends of the spectrum – want to know what I mean – listen as he introduces himself, and answers some tough questions from us.
Here’s a few things that we asked:
- When should a business start thinking about succession planning?
- Who should be a part of building your succession plan. (i.e. lawyer, financial planner, etc)?
- What’s the bad news, if I don’t succession plan?
- Before I seek professional help, what are some questions should I be asking myself in preparing to go forward in creating my succession plan?
Kevan had a few questions of his own… How would you answer this one: “Can you go away on Holidays for more than 2 weeks at a time, without your business falling apart?”
Our Goal was to provide you with a better understanding about what Succession Planning is and how to go about implementing a Succession Plan for your business. How did we do?
Have you started to think about Succession Planning for your business, or do you already have a plan in place? We’d like to hear from you – tell us who you have on your Power Team of Professionals, and how have they helped you with regards to your Business plans for the future.
- Herod Financial Services
- The E-Myth Revisited – Book by Michael Gerber
- Email: email@example.com
- Herod Financial Office: 1-705-741-5287
Kevan loves quotes just as much as we do – so he was game to play along with the “Examination Room”.
In fact he pulled out a quote or two of his own from his “Quotable Quotes” list to share with us.
Our quote today is by Soren Kierkegaard
“Life is not a problem to be solved, but a reality to be experienced.”
~ Soren Kierkegaard
To see this quote along with other Inspiring & Motivating Quotes like this – head over to the ‘Empower Inspire Motivate’ Facebook page. Or just go to measurementdoctor.com/inspire
ATTENTION… We’ve Got Video For You:
We’re trying something new here. For this Podcast episode (and some other’s in the pipeline) – we recorded the Podcast with a video version too (for those listeners, who’d like to watch instead of just listen). Let us know what you think – Do we continue with video recordings – or do we just stick to the Audio?
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