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Business Owner & Exit Planning in Southlake, TX

You built the business. At some point — on your timeline or the market's — you'll transition out of it. The owners who come out of that moment well are the ones who started planning before a buyer ever appeared. At Puzzle Wealth, exit planning is led by David Millington, CFP®, CIMA®, CEPA®, SE-AWMA® — the CEPA® (Certified Exit Planning Advisor) designation focuses specifically on guiding owners through business transitions — serving business owners across Southlake, Fort Worth, Dallas, and the broader DFW area. 

What Is Exit and Succession Planning?

What Is Exit and Succession Planning?

Exit and succession planning is the structured preparation of a business — and its owner — for a future sale, family succession, or transition.

A complete plan addresses: what the business is realistically worth and what drives that value; what different deal structures (asset sale versus stock sale, cash versus earnout) would mean for your after-tax proceeds; whether strategies like Qualified Small Business Stock (QSBS) treatment, charitable structures, or family gifting should be set up before a transaction; successor readiness if the business stays in the family or goes to key employees; and — the piece most owners skip — a personal financial plan proving the exit actually funds the life that comes next.

Why Start Planning Your Exit Early?

Why Start Planning Your Exit Early?

Ideally two to five years before a sale or succession. The most effective tax and value strategies take time: entity restructuring, gifting programs, cleaning up financial statements, and strengthening the operations a buyer will scrutinize. Waiting until a buyer appears usually narrows your options to whatever is still possible — early planning keeps all of them open.

How we work with business owners

We act as the financial quarterback for the transition, drawing on LPL's Business Owner Solutions resources and coordinating with your CPA, attorney, and any M&A advisor — we work alongside your existing professionals, not in place of them. That includes modeling after-tax proceeds under multiple deal structures, addressing estate document gaps before a liquidity event, sequencing pre-sale strategies while they're still available, and guiding the emotional and logistical side of stepping away from a company you built.

What happens to the money after the sale?

The exit is the midpoint, not the finish line. For most owners, the sale converts a lifetime of concentrated, illiquid ownership into investable wealth for the first time — and that wealth needs a job. We design post-exit portfolios built around your new chapter: equities for long-term growth; fixed income, including municipal bonds and fixed-rate annuities, for tax-aware, dependable income; and alternative investments — private equity, private credit, private real estate, and structured products — selected to reduce correlation with traditional markets and pursue additional income potential.

Our first priority is helping you take care of yourself and your family. We want to learn more about your personal situation, identify your dreams and goals, and understand your tolerance for risk. Long-term relationships that encourage open and honest communication have been the cornerstone of my foundation of success.

Common questions from owners


How do I know if selling my business will support my retirement? That's the first question we answer — before valuation, before buyers. We build your personal financial plan, model the after-tax proceeds different deal structures would produce, and compare the two. The sale gets a number to clear, not a number to hope for.

Can I stay involved after transitioning ownership? Often, yes. Many owners negotiate a gradual transition — an advisory role, phased involvement, or an earnout period. We help you understand what each structure means for your income, taxes, and timeline.

Do I need a CEPA® advisor if I already have a CPA and attorney? They answer different questions. Your CPA manages tax compliance; your attorney handles legal structure. A CEPA®-designated advisor connects those pieces to your personal financial picture and sequences the decisions in the years before the transaction.

Start the Conversation Before the Buyer Starts It

Start the Conversation Before the Buyer Starts It

If a transition may be on your horizon — in two years or ten — the most valuable planning happens before a letter of intent exists. Schedule a conversation with our team and find out what your options look like while they're all still open.

Alternative investments involve additional risks, including illiquidity and loss of principal, and are generally available only to investors who meet specific qualification requirements. Fixed annuities are long-term investment vehicles designed for retirement purposes; guarantees are based on the claims-paying ability of the issuing insurance company. Municipal bond income may be subject to the alternative minimum tax. There is no guarantee that a diversified portfolio will enhance overall returns or outperform a non-diversified portfolio. Diversification does not protect against market risk. This information is not intended to be a substitute for specific individualized tax or legal advice.