Bette Skandalis

Bette Skandalis is a practice management consultant at Commonwealth Financial Network®, member FINRA/SIPC, the nation's largest privately held Registered Investment Adviser–independent broker/dealer. With the firm since October 2012, Bette works with affiliated advisors on a range of business issues, including business planning, marketing, growth, office efficiencies, staffing, and continuity/succession. She has an undergraduate degree in English from the University of Massachusetts and graduate degrees from the University of Michigan (MA in American culture) and Simmons Graduate School of Management (MBA).

Information about securities-registered professionals may be found at FINRA BROKERCHECK.

Recent Posts

Evaluating the Tax Considerations in Buy-Sell Agreements

A New Look at Succession Planning for Financial Advisors

The Dating Game: Seeking the Optimal Continuity Partner

Developing a Disaster Recovery Plan for Your Firm

What’s the Problem with Succession Planning for Financial Advisors?

Evaluating the Tax Considerations in Buy-Sell Agreements

Posted by Bette Skandalis

June 12, 2018 at 10:00 AM

Are you thinking of buying or selling your practice? If so, you are also likely thinking of the material difference that taxes will make in the value of your assets or revenue stream. While you never want the “tax tail wagging the deal dog,” some forethought to the tax implications can help you transact a deal that aligns with your expected net values.

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Topics: Practice Management

A New Look at Succession Planning for Financial Advisors

Posted by Bette Skandalis

May 9, 2018 at 1:30 PM

Picture this: You own a classic 15-year-old Audi Cabriolet convertible. Through upgrades and solid maintenance, it seems to improve with age—until it doesn’t. Eventually, the electronics go awry, the door handle comes off, the top won’t go down, and the transmission fails. Resale value? Close to zero. If you were your own client, you would have told yourself to sell a few years ago in order to maximize value—before the inevitable march of declension.

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Topics: Practice Management

The Dating Game: Seeking the Optimal Continuity Partner

Posted by Bette Skandalis

July 18, 2017 at 10:00 AM

Having a continuity partner in your practice is important to ensure continued service, staff involvement in the transition, and financial protection for your family in the event you are unable to participate in the business. Without one, you run the risk of creating service disruptions, staff confusion, and unnecessary family stress. Plus, in the event of permanent disability or death when there isn't a continuity agreement in place, fiduciary accounts are stripped of fees and converted to brokerage accounts immediately. In short order, your revenue stream may significantly decline. Ultimately, for an independent advisor, this disruption of income often results in diminished client retention and a business fire sale.

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Topics: Practice Management

Developing a Disaster Recovery Plan for Your Firm

Posted by Bette Skandalis

June 7, 2017 at 1:30 PM

You arrive at work one morning only to find fire trucks in front of smoking rubble—where your office used to be! Now what? You may tell yourself that your broker/dealer backs everything up. Plus, you have lists of vendors, and you know how to contact your staff in an emergency. But is your office really prepared? Not quite.

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Topics: Practice Management

What’s the Problem with Succession Planning for Financial Advisors?

Posted by Bette Skandalis

March 2, 2016 at 1:30 PM

Just as some clients ignore the financial risk that comes from neglecting their asset protection and retirement planning needs, some advisors ignore the risk exposure created by the absence of a written continuity or succession plan. This leads me to wonder, “What’s the problem with succession planning for financial advisors?”

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Topics: Practice Management, Succession

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