A Plan for Success(ion): 7 Steps to Transitioning Your Firm

Posted by Maria Considine King

May 22, 2019 at 1:30 PM

Advisors work hard for years, even decades, to build the businesses they have today. If you’re in the independent channel, chances are that your business is one of your largest personal assets, if not the largest. Which means transitioning your firm to the next generation is a big responsibility—one that you want to do right.

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Topics: Succession

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

You Hired a New Advisor. Now What?

Posted by Maria Considine King

June 11, 2014 at 1:30 PM

After much consideration, you've decided to bring on a new advisor to your advisory business. You've spent many hours assessing your firm's needs, conducting interviews, and selecting the best candidate. But your work isn't done quite yet.

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Topics: Practice Management, Succession

Challenges and Benefits of Hiring a Junior Advisor

Posted by Maria Considine King

June 10, 2014 at 10:00 AM

If retirement is somewhere on the horizon for you, you're probably trying to identify the right successor for your advisory business. You may consider naming a seasoned advisor who can take the reins immediately when the right time comes. Another option is hiring a junior advisor who can learn from you for several years before taking over. He or she can provide continuity of service and long-term stability for your business and clients before, during, and after the succession process.

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Topics: Practice Management, Succession

How to Build Your Succession Plan, Part 2

Posted by Maria Considine King

May 21, 2014 at 1:30 PM

Building your succession plan doesn't happen overnight. It takes time, extensive research, and careful preparation.

Part 1 of this series outlined the first steps for building a financial advisor succession plan. Here, we outline the next steps, along with some additional tips to help you reach your specific goals and ensure a successful transition for you, your business, and your successor.

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Topics: Practice Management, Succession

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