Is an Employee Stock Ownership Plan (ESOP) right for your company? This session provides a clear and practical overview of ESOPs and their potential as a succession-planning vehicle, with a focus on the construction industry. Attendees will explore the benefits ESOPs can offer to sellers, companies, management teams, and employees. The discussion will address common myths, outline the pros and cons, provide practical and real-world applications, and highlight risks specific to construction financial professionals. While ESOPs will be the central focus, the session will also touch on alternative transition strategies such as key employee buy-ins and strategic sales to help business owners evaluate the best fit for their goals.

CPE: 1 hour
Level: Basic
Prerequisites: None

 

The Construction Financial Management Association (CFMA) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

• Jen Bao is a Director of BMO Corporate Advisory based in New York City. Jen’s background is in financial advisory, debt capital, and ESOP consulting. Jen was most recently at J.P. Morgan where she led the Northeast for the ESOP Advisory Group. Prior to JPMC, Jen worked at Verit Advisors, a leading investment banking firm in Chicago. Jen started her career in business valuation at KPMG and Forvis Mazars. Jen is a CFA charterholder and got her MBA from University of Chicago Booth School of Business.

• Steve Deis is Managing Director and Market Leader for Lazear Capital Partners in California, where he specializes in guiding privately held business owners through succession planning tailored to their goals for family, company, and employees. With over 25 years of experience in financial services and investment banking, Steve brings deep expertise and practical insight to ownership transition strategies, particularly ESOPs. His approach is grounded in both professional experience and personal perspective as a member of a fourth-generation family agricultural business. Prior to Lazear, Steve held senior roles in ESOP advisory and began his career at Merrill Lynch serving high-net-worth families. He holds a B.S. in Business Administration from California State University, Fresno.

• Bill Wilson is a Senior Manager in the assurance group with Baker Tilly US, LLP. He has practiced public accounting since 2007.  He focuses on serving closely held companies the construction industry and also specializes in auditing employee owned companies and the related Employee Stock Ownership Plans.