Westport Advisor Michael Gold on Preparing for Business Exits
Close to three-quarters of privately held business owners expect to transition or exit within the next decade. That wave of sales could involve an estimated $10 to $14 trillion in exit-related wealth. Westport wealth advisor Michael Gold Westport warns that many of these owners are unprepared, and the reason has little to do with the quality of their advisors.
Where Exit Plans Break Down
Gold founded Gold Family Wealth in Westport, Connecticut, after building a career that now spans 25 years. In a February profile published by The Ritz Herald, he explained that owners often hire excellent specialists who rarely speak with one another. The investment manager may not understand the succession plan. The estate attorney may draft documents without input from the CPA.
Those gaps tend to show up late. Gold describes cases in which owners had to push back a sale by a full year so assets could be re-characterized to avoid excessive tax drag. Such delays usually trace back to planning done in separate silos. “People do not think about the end in mind early enough,” he says.
Industry observers have a name for this problem: the advisory coordination gap. It describes situations where each professional is competent, yet nobody checks whether advice from one conflicts with advice from another. For business owners, that gap often stays hidden until a sale is already underway. See related link for additional information.
Planning Years in Advance
Michael Gold built his firm around coordinating a family’s professionals rather than adding to their number. Under this model, structural issues that could derail an exit are flagged well ahead of a deal. Tax outcomes are tested across several liquidity scenarios. Philanthropic vehicles are tied into succession plans instead of being bolted on afterward.
The firm’s dedicated practice for ultra-high-net-worth families develops much of this thinking, including advanced modeling and multigenerational governance. Gold calls that group “the intellectual engine of the entire organization.” Lessons from complex cases then raise standards for every client the Westport firm serves. Forbes included Gold on its 2025 Best-in-State Wealth Advisors list.
Follow for more information about Michael Gold Westport on https://www.instagram.com/goldfamilywealth/