Building an exit planning team: who does what, and who raises data licensing

Who belongs on an exit planning team, and who does what?

A business sale usually needs five roles: a transaction attorney, a CPA or tax adviser, a wealth adviser, a broker or investment banker, and an exit planner who coordinates the timeline. Which one runs the sale depends on size. Smaller companies tend to use a broker, while larger or more complex ones more often use an investment banker; the choice depends on deal size and complexity.

The team also needs a rule for one more item: who raises data licensing with the owner, and when. Credit for a SourceX introduction goes to the first valid referrer whose introduction leads to a verified company application within the attribution window. If three advisors each mention it, the owner is confused and only one of you can be the referrer. Settle it before the owner hears it.

What does each adviser own in a sale?

No role is automatically the right one. The right referrer is the adviser the owner trusts on this topic and who has no conflict with their own professional rules.

Which adviser should make the introduction? The 3-question decision rule

Ask three questions, in order. The first yes wins.

1. Does one adviser already have the owner conversation about assets? Usually the exit planner or wealth adviser. They go first.
2. Does any adviser face a rule that limits or requires disclosure of referral fees? CPAs and attorneys often do. That adviser should check the rule first and, if it restricts the arrangement, leave the introduction to someone else and tell the owner.
3. Does a sale process or letter of intent already exist? If yes, the attorney and broker should hear about it first, because a license is separate from the sale and timing may matter.

Write the answer in the engagement notes so the team does not rely on memory. Exit planner introduction email templates include a note for forwarding between advisors.

What rules constrain each professional?

This section is general. Rules differ by state and by firm, and each adviser must check their own.

• CPAs: The AICPA Code of Professional Conduct has provisions on commissions and referral fees and on contingent fees, which mainly restrict CPAs where the firm performs attest services for the client, and which require disclosure of permitted referral fees. Read the current AICPA Code of Professional Conduct and your state board's rules.
• Lawyers: The American Bar Association Model Rules on fees, professional independence and advertising are the model, but each state adopts its own version. Start at the Model Rules table of contents and then check your state bar.
• Registered representatives and wealth advisers: Your firm's compliance team decides what outside referral arrangements are allowed and what must be disclosed.
• Brokers, bankers and planners: Check your firm's agreements and any licensing rules in your state.

This is general information, not legal, tax or financial advice. Confirm with your own counsel, tax adviser or professional body before acting.

When in the exit timeline should the team raise it?

The guide to reducing owner dependence overlaps with the value-building row. Owners who are weighing an internal route should also read about engineering firm succession planning and manufacturing business succession planning, where the options differ.

How the introduction works without anyone touching data

1. One named adviser tells the owner what a records license is, in a few sentences, and that nothing is binding until the company signs.
2. That adviser registers as a partner and shares a referral link, or the owner applies at SourceX directly using that link.
3. SourceX qualifies the company on size, history, data breadth and rights with the owner or authorized sponsor.
4. The company completes a data inventory of systems and years of history.
5. SourceX agrees one all-in price and terms with the company before buyers review.
6. If the deal closes, data is delivered under agreed redaction rules and only after an executed agreement. Advisers never export, upload or describe confidential records.

What to say when you raise it with the team

How do rewards work when several advisers are involved?

Partners earn 25% of the eligible platform fees SourceX actually collects from the referred company's licensing deals, capped at $100,000 per referred company. The reward is paid only after the buyer pays and SourceX receives its fee; an introduction, meeting or signed agreement alone does not trigger payment, and no reward is guaranteed. Only one partner holds attribution for a company, so splitting is a matter for your own arrangements and professional rules, not for the program. See the program terms.

When an exit team should not raise licensing

• The company has fewer people or history than the baseline above.
• The business is mid-insolvency and a court or trustee controls the assets. See selling an unprofitable company with a large team.
• The owner is distracted by an active, fragile deal. Wait until it closes or falls through; when a sale falls through explains the next steps.
• Nobody can export the data.

Next step

Agree the introducer at your next team call, then run the company through the company fit checker. The agreed introducer can register as a partner. Brokers on the team can see referral opportunities for business brokers.