The program is designed to inform and instruct private business owners about creating a successful transition plan. Launched by PKF O'Connor Davies last November, its Center For Private Business Owners is pushing to take how these issues are addressed to a new level.

The Center For Private Business Owners, launched by PKF O’Connor Davies last November, has set out its Succession Academy Program for November 21. The one-day program is held at PKF’s offices in 245 Park Avenue, New York, the firm said in a statement.

Steve Prostano, the partner-in-charge of the Center, at PKF O’Connor Davies Advisory, designed this offering to satisfy the business and personal needs of the private business owner at any stage in their lifecycle. (Prostano is also a member of Family Wealth Report's editorial board.)

“The Center includes a multidisciplinary team of experts from across the organization’s practice areas, as well as external specialists/experts, and we are leveraging the 100-plus years of experience that PKF O’Connor Davies and PKF International has serving private business owners, globally,” Prostano told this publication.

The Center said its offering does not exist elsewhere in the financial services or professional services industries; it includes all the financial and advisory services needed by a business owner in their personal and business life.

Both internal and external experts across multiple disciplines will provide the training at the Succession Academy; the Center will follow up on the sessions with each business owners to ensure they develop their own customized roadmap.

This year the program is for clients of PKF O’Connor Davies and by invitation only. 

Hosts of the program are Prostano and Dr Cynthia Adams Harrison, managing director of the Center for Private Business Owners.

“As we work with our clients on their succession plans the need for a multi-disciplinary approach and our team of experts is evident,” Harrison said. “We are able to provide our clients with an assessment of their readiness in their business and personal life, a strategic plan – a “roadmap”, and our team is able to help them implement the plan, which can include investment banking services if they choose to sell the business.”

The offering from the Center includes services that support operating a privately held business, tax planning, estate, legacy and wealth transfer planning, succession and continuity planning, merger and acquisition support, and education for the next generation.

The presenters:
Prostano, Adams Harrison; Christopher Migliaccio, (partner, international tax (PKF O’Connor Davies Advisory); John Vitucci, partner, employee benefit services (PKF O’Connor Davies Advisory); Michael Wesley, partner (PKF Clear Thinking); Robert Murphy, senior managing director (PKF Investment Banking); Alberto Sinesi, investment banking director (PKF Investment Banking); Scott Tasch, partner, founder (Altium Wealth); Maria Bronzi, partner, strategic alliances (Altium Wealth); Jeffrey Cassin, partner (Norris McLaughlin); Nichole Cipriani, partner (Norris McLaughlin), and Steven Kuperschmid, partner, co-chair of corporate & securities department (Ruskin Moscou Faltischek (RMF)). 

Succession Academy
The organizers of the Center said that because most private business owners delay or procrastinate about the planning for their business succession, and many don’t have time to explore what options might be available, the Succession Academy is designed to inform and instruct private business owners on the process of creating a successful transition plan.

The most common options for succession, namely, intra-family succession, employee/partner succession and the sale of a business are separated into specific areas of education and learning, but more importantly the roadmap developed is customized for each private business owner and the implementation support will address all of their personal and business needs.