130 - Should you Sell to the Employees? Taking a closer look at ESOP with Fiduciary, Neil Brozen

2023-01-12

Should you Sell to the Employees? Taking a closer look at ESOP with Fiduciary, Neil BrozenWe had the honor of interviewing ESOP Fiduciary, Neil Brozen, President of Ventura ESOP Fiduciary Services. We've had other guests talk about ESOP on the show in the past, but never one with his expertise. Neil's background lends itself to stepping into his current role (some 20 years ago) being a former CPA and spending so much time in the M&A world. His perspective carries with it the overall exit success of the ...

Should you Sell to the Employees? Taking a closer look at ESOP with Fiduciary, Neil Brozen

We had the honor of interviewing ESOP Fiduciary, Neil Brozen, President of Ventura ESOP Fiduciary Services. We've had other guests talk about ESOP on the show in the past, but never one with his expertise.

Neil's background lends itself to stepping into his current role (some 20 years ago) being a former CPA and spending so much time in the M&A world. His perspective carries with it the overall exit success of the owner and the fulfillment of the employees at the same time. He believes that there are many more companies who could become ESOPs and choose not to due to inaccurate information about how it works.

There are Centers for Employee Ownership across the country, and Neil is a proud Board member for both the local Chapter in MN (MNCEO.org) and the national organization that supports them; The Employee Expansion Network.

Many owners mistakenly believe that ESOPs eliminate their ability to control the direction and management of their company, but that's not the case at all. In fact, owners don't have to sell all of their stock to an ESOP.

There are approximately 6800 ESOPs in the United States right now. Neil said that number doesn't change much, since those who resell outside of the ESOP and those who start them up are consistently 1:1.

Financing for ESOPs was also a topic we discussed and you will likely find that part of the interview intriguing. The seller-financed portion of the transaction can end up being a great investment for the seller compared to other investment options today.

We talked about typical industries, company size, tax benefits and a whole lot more. Listen to the episode!

Contact Neil Brozen at nbrozen@venturaesop.com

Thank you to this month’s sponsor! Sunbelt Business Advisors and John A Knutson & Co, PLLP, JAK + Co and TrustPoint

Connect with Julie Keyes, Keyestrategies LLC
Founder, Consultant, Author, Pod-caster and Instructor

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