Succession Planning

Sep 23, 2012

Biggest and most profitable have plans in place

Financial advisers who have mapped out a succession plan typically lead their peers in revenue, profit and the amount of assets that they manage. Yet only about half of all advisers have developed even a rough plan for transitioning ownership, according to the 2012 Succession Planning Study from IN Adviser Solutions.

Building a plan

Don't end up walking away

We know from IN Adviser Solutions' 2012 Succession Planning Study that if a firm doesn't have a robust succession plan, the adviser is far more likely to walk away.

What your firm is really worth

How much is your advisory practice worth? It's an emotional question for advisers, given the blood, sweat and tears that they have invested in their practices. And many advisers will be disappointed by the answers they get.

Tales from the trenches

Keeping ownership in-house

To keep her clients happy, selling out wholesale to another firm is most likely out of the question for Geri Eisenman Pell, president of Geri Pell & Associates

Finding perfect successor is like finding a spouse

Just as men and women make lists of what they want in a mate, Norman Boone, president of Mosaic Financial Partners, has set criteria for his successor.

Legacy challenges face firms with multiple partners

Beacon Pointe Advisors faced a complicated scenario when building a succession plan: The firm has seven partners and none with a majority stake.

Continuity is key for clients, not just succession

Succession planning is really about making sure the business and services for clients are continuous, said Michael Nathanson, CEO of The Colony Group.