#59: Rewriting the Exit Playbook: ESOPs, Ownership & Building a Regret-Free Legacy w/ Andrew Fejer

Episode OverviewIn this episode of Building the Biz, Shane sits down with Andrew Fejer, Managing Director at Lazear, to unpack the world of ESOPs (Employee Stock Ownership Plans) and why they remain one of the most misunderstood opportunities in business today. With over two decades in corporate banking and business advisory, Andrew brings practical insight, honest perspective, and deep conviction around ownership, culture, and legacy.This conversation goes far beyond exit planning. It’s about leadership, authentic relationships, building the right advisory team, and creating businesses that outlive the founder in healthy ways.In This Episode, You’ll Learn· Why ESOPs are often more misunderstood than private equity · What makes a founder a strong ESOP candidate · Common myths around employee ownership and control · How ESOP structures actually work from a founder’s perspective · The difference between good leverage and dangerous leverage · Why employee ownership can help address the wealth gap · How to build a high-level advisory team around your business · Why authentic networking creates long-term opportunity · The connection between ownership culture and business performance · What “regret-free” exits really look like for founders · Why founders need friction, accountability, and honest feedback · The role discipline and love play in leadership and legacyAbout Andrew FejerAndrew Fejer is Managing Director at Lazear, where he leads ESOP advisory efforts across the Western United States. With more than 20 years of experience across JPMorgan, HSBC, and BOK Financial, Andrew specializes in helping founders navigate tax-efficient exits through employee ownership structures.Passionate about business equity, legacy, and ownership culture, Andrew works closely with founders to help them discover alternatives to traditional exit strategies while preserving the businesses and teams they’ve worked so hard to build.Connect with Andrew Fejer & Lazear🌐 Website: Lazear Capital Partners 🔗 LinkedIn: Andrew Fejer LinkedInDisclosuresShane Bauman is a Registered Representative and Financial Advisor of Park Avenue Securities LLC (PAS). Securities products and advisory services offered through PAS, member FINRA, SIPC. Financial Representative of The Guardian Life Insurance Company of America® (Guardian), New York, NY. PAS is a wholly owned subsidiary of Guardian. RISE is not an affiliate or subsidiary of PAS or Guardian. This podcast is for informational purposes only. Guest speakers and their firms are not affiliated with or endorsed by PAS, Guardian, or RISE and opinions stated are their own. Guardian, its subsidiaries, agents and employees do not provide tax, legal, or accounting advice. Consult your tax, legal, or accounting professional regarding your individual situation. Guardian does not issue nor service mortgages or reverse mortgages. 8906315.1 Exp. 5/28