Selling a business is a complex process. You need to tackle several types of taxes. You need to effectively invest the proceeds. Finally, you also need to overcome the emotions of letting go of your business.
In this episode, Kyle Malmstrom interviews Doug Pate, a client of Centura Wealth Advisory (Centura) who recently sold his business, International Surf Ventures Inc., after growing it for 17 years.
- His personal experience of navigating a business exit
- How CLATs helped him save seven figures in taxes and achieve his charitable goals
- Why wealth protection is as important as growing your wealth
- Centura’s involvement in his wealth management (including alternative investments)
- And more
Connect With Doug Pate:
Connect With Centura Wealth Advisory:
About Our Guest:
Doug Pate co-founded ISLE with his best friend, Marc Miller. Doug and Marc share a lifelong passion for the ocean and the sports that surround it. In their first four years of business, they sold surfboards online. At the time, there was no direct-to-consumer surfboard company, and by default, they became the industry’s pioneers. In 2008, they shifted their focus from surfboards to stand up paddle boards as a way to help more people get on the water across the country.
The presented testimonial is from a current Centura client and is for informational purposes only. The statements provided should not be considered as a representation of all client experiences, which may differ substantially.