Retirement is a really important consideration that not enough people take into account early enough to matter. One needs to be prepared to live the comfortable life that they have become accustomed to once their ability to earn a living is diminished. In this month’s interview, I had the opportunity to speak with a man who is taking the right path to retirement and in the process, is making sure that the business and client base he has built up through hard work is going to be preserved and well taken care of once he rides off into the sunset.
That man is Frank Gutta, who has the distinction of attending NCI’s first Practice Development Seminar in 1987. He has managed to build a million-dollar accounting practice in the Florida market with help from NCI and our marketing programs. Frank recently turned 60 and has been thinking about retirement. He decided that he wanted to bring in a young, ambitious CPA to groom for takeover during a five-year transition period. Frank came to NCI for help in facilitating this buy-in because, after working with NCI on and off for over two decades, he knew that he could trust Bruce Clark with this incredibly important task. Within one month, he had the perfect fit for the position in place, along with a great financial deal that generated 80% of the cash up front for Frank. Read on to learn the details of this buy-in and also to get time-tested advice from a proven long-term success.