{"type":"rich","version":"1.0","provider_name":"Transistor","provider_url":"https://transistor.fm","author_name":"Bicycle For The EO Mind","title":"A Value Driven Exit: How a Financial Advisory Firm Became a Perpetual Purpose Trust","html":"<iframe width=\"100%\" height=\"180\" frameborder=\"no\" scrolling=\"no\" seamless src=\"https://share.transistor.fm/e/07abe474\"></iframe>","width":"100%","height":180,"duration":3299,"description":"Meet Michael Kramer from Natural Investments, a financial advisory firm specializing in socially responsible investing that transitioned to a Perpetual Purpose Trust (PPT) in 2023. After joining as the firm's third financial advisor in 2000, Michael served as managing partner from 2007 to 2023 before becoming a trust steward and manager during their innovative ownership transition.Some takeaways:How the growing valuation of their successful firm made traditional succession planning impossible, as younger advisors couldn't afford to buy inWhy they rejected lucrative acquisition offers from larger firms to preserve their mission of \"using money as a tool for social change\"Their creative financing approach: borrowing from RSF Social Finance for the down payment, with customized promissory notes for each exiting partnerHow they decoupled governance from ownership by creating a Trust Stewardship Committee with 3-year rotating terms to increase diversity in leadershipThe importance of early stakeholder engagement in the transition process to gain buy-in and incorporate diverse perspectivesMAILBAG | GET IN TOUCH WITH US We'd love to feature your voice in an upcoming mailbag episode! Have a question for us? Leave a voicemail at 650-203-6565, or send an email to social@zolidar.com. Remember, voicemails make for more engaging episodes—we want to hear your actual voice!ZOLIDAR LINKS:https://zolidar.comhttps://zolidar.com/podcasthttps://zolidar.com/bloghttps://zolidar.com/grid/person/allZOLIDAR FEATURES:https://zolidar.com/exit-plan-guidehttps://zolidar.com/exit-financial-planhttps://zolidar.com/dashboard?zolidai=trueZOLIDAR SOCIAL MEDIA:https://www.linkedin.com/company/zolidar/https://www.youtube.com/@zolidarhttps://x.com/zolidarhttps://www.instagram.com/zolidar_comhttps://www.facebook.com/zolidarioCHAPTERS CONNECT WITH NATURAL INVESTMENTSNatural InvestmentsREFERENCED IN THIS EPISODE:Michael Kramer (Former Managing Partner, Trust Steward)RSF Social Finance...","thumbnail_url":"https://img.transistorcdn.com/uJqpzIPNlLKXYo1d9uhUg3Vxe9TXy51iWrNAFDOt9V0/rs:fill:0:0:1/w:400/h:400/q:60/mb:500000/aHR0cHM6Ly9pbWct/dXBsb2FkLXByb2R1/Y3Rpb24udHJhbnNp/c3Rvci5mbS8wYjNm/ZjFhNmMxNmI5ZGNl/YTQwNjYzY2MzN2I4/M2E5MS5wbmc.webp","thumbnail_width":300,"thumbnail_height":300}