Are there things you do naturally, simply because you have done them so many times before? I am an avid outdoorsman, and for the past 25 years, with friends and family in tow, I have taken a June fishing trip to Lake of the Woods. Since our group has taken this trip so many times, we know exactly how to prepare to ensure our adventure is successful, fun-filled, and most important, without incident. The trip and planning are now second nature to us. When things aren’t second nature, though, the end result can be drastically different!
Often, I reflect on our first fishing trips to Lake of the Woods. In those early years, we learned some tough lessons, mainly because of our inexperience. After all, these were “uncharted waters” for us. Like the time we got caught in a super tornado, pelted by volleyball-sized hail while bailing water over the boat’s edge, as 12-foot swells tossed our boat up and down. Why? We lacked a clear understanding of weather patterns on the lake. Or the time we ran our 10-foot, glass-bottomed boat onto a massive rock reef, shattered the glass hull, and were flung into the shark-infested waters. Why? We did not understand the navigation routes very well. Or the time we broke down in the middle of the lake and were stranded for months without food and water, before being rescued by the Coast Guard. Why? Our tools and equipment were inadequate for the “big lake” conditions. My wife is amazed that I am still here today to tell some of these greatly exaggerated stories.
When I’m not fishing on Lake of the Woods, I focus much of my time on tax preparation, tax consulting, and tax planning for banks. Lately, many of our clients have been navigating the “uncharted waters” of mergers and acquisitions. For most banks, mergers and acquisitions are not second nature; therefore, it can be extremely difficult to fully understand the weather patterns, safely navigate the waters, and ensure the proper tools and equipment are at their disposal. At Wipfli, we have an experienced team to help guide your bank through the uncharted waters of mergers and acquisitions, ensuring a successful outcome, without incident. If you are contemplating a merger or acquisition, we would appreciate the opportunity to be your guide! For more information, contact your Wipfli relationship executive or email WipfliFiPractice@wipfli.com.