Alliance to assist SME retirement objectives

Licensee group Sentry and succession and exit planning firm Succession Plus have teamed up to assist with a growing need of small to medium-sized enterprises (SMEs) for help with their retirement and exit objectives.

Succession Plus has developed a program for Sentry advisers, comprising workshops, training and development, visits, and consulting with adviser SME clients.

The first program to be rolled out as part of the initiative will focus on employee share-ownership plans (ESOPs), according to a statement.

Sentry executive director and head of business solutions, David Newman, said the purpose of the alliance with Succession Plus was to support the licensee group's advisers in assisting their small business clients to effectively deal with protecting the value of their enterprises and extracting value upon exit.


"We are ... confident that the event will be of immense benefit to SMEs and advice practitioner attendees," Mr Newman said.

"In addition, we are excited about the long term prospects the alliance with Succession Plus will provide as the Sentry advisers that focus on servicing the needs of the SME sector will benefit with increased clients and enhanced relationships with accountants, lawyers and finance/mortgage brokers."

Succession Plus founder Craig West said ESOPs can be the answer, with benefits including a succession solution for the proprietor and certainty for the employees, customers and suppliers.

"The thought of a business being sold, merged or closed often fuels disquiet among employees, with disgruntlement, insecurity and potential for key employees to jump ship heightened," Mr West said.

"ESOPs allow for an orderly transition of ownership; the owner can scale back their involvement whilst employees are motivated to go the extra mile through increased morale that increases productivity, performance and engagement."

Alliance to assist SME retirement objectives
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