The Five-Year Plan:
A Clear Path to Family Business Succession
Financial advisor and wealth manager, Craig Toberman, CFA, CPA, CFP®, MBA, has released his new book, The Five-Year Plan: A Clear Path to Family Business Succession. Aimed at family business founders preparing for retirement or transition, this comprehensive guide offers a step-by-step approach to succession planning, retirement planning, and creating a lasting legacy.
From Concept to Completion: Ready for Your Business Succession
If you’re a business owner looking to protect what you’ve built and move into your next chapter with confidence, The Five-Year Plan was written for you.
The Story Behind The Five-Year Plan: A Decade of Insights for Smooth Business Transitions
Even before launching Toberman Becker Wealth in 2020, Craig noticed a major issue: most business owners had no succession plan, putting their net worth, business, and family at risk.
“Without a clear succession plan, everything a family has built is at risk: their wealth, business, and family harmony.”
No matter the industry or level of success, this problem kept coming up. Craig began writing down the advice he shared time and again, hoping it would eventually form a complete guide.
“I wanted to create a clear, actionable guide to spur proactive thinking in the minds of business founders on the topic of their inevitable business transition.”
Over the years, Craig collected patterns and strategies, sharing bits through family business blog posts in 2021 and 2022. Behind the scenes, he continued refining the material into a cohesive framework.
In August 2022, business planning and consulting work forced him to put the project on hold, but the mission never left him. Recently, he realized the frameworks and lessons were ready to be shared.
“This is important advice for the betterment of families and their hard-earned businesses.”
He revisited the drafts, refined them, and is proud to share the result.
Summary of The Five-Year Plan: A Clear Path to Business Succession
Step away from your business with confidence, financial security, and a lasting legacy.
If you’re a family business founder thinking about what’s next, The Five-Year Plan is your roadmap. This book is designed to help you:
- Build a personal financial plan aligned with your retirement goals
- Maximize the value of your business before you transition
- Reduce family conflict and create a smooth handoff
- Decide between handing off the reins or exploring a sale
- Design a meaningful life after the exit
Each chapter focuses on one milestone in the five-year succession journey and ends with an actionable checklist to help you move forward with clarity.
Drawing on his experience as a wealth advisor, CPA, and long-time advisor to business owners and retirees, this book brings together everything he’s learned about creating a succession plan that works for your finances, business, and family.
The Five-Year Plan was also featured in the Illinois Business Journal.
“It’s been a long time coming, and I’m excited to finally put this resource into the hands of the people who need it most.”
Disclosure: This book is intended solely for educational and informational purposes. It is not financial, legal, or tax advice, and does not make any recommendations or promises of specific outcomes.
Craig Toberman is a Partner at Toberman Becker Wealth – a fee-only, fiduciary financial advisor based in St. Louis. He assists families and businesses with strategic financial planning and long-term wealth management. He has over a decade of experience in financial services and has crafted custom financial plans for hundreds of families and businesses.