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.