Householder Group is expanding a key program designed to help high-net-worth advisors with succession planning for their practices.
The Arizona-based financial planning firm announced that it's expanding its Successor Membership Program, which aims to help facilitate smooth transitions for retiring financial advisors in affluent markets while providing growth opportunities for successors.
Launched in 2019, the program was developed to standardize what was previously an uncertain and unstructured succession process for financial advisors. It’s designed to support advisors nearing retirement by partnering them with a successor.
“Our Program matches founding advisors looking for an exit strategy with compatible advisors who are in growth mode … and are strategically and culturally aligned with the values of Householder Group,” the firm’s COO, Renee Farida, said in a statement.
For retiring advisors, the arrangement provides a structured exit strategy and a liquidity event, while incoming advisors inherit a thriving business and gain a membership stake that’s commensurate with the assets they bring over.
“It’s a win-win situation for all involved, including clients of the retiring advisor who will experience a smooth transition between advisors,” Farida said.
The program recently crossed a key milestone, surpassing the $1 billion AUM mark over the course of 13 deals, including two acquisitions it announced in March.
Building on that success, the firm says opportunities to join the program are now open in its home state of Arizona, as well as Texas and California.
"As with our prior rollout of limited membership opportunities, we expect a high degree of demand for this innovative program," Farida said. “This allows us to selectively invite only the best wealth management professionals into our community of advisors,” she added, highlighting the program’s appeal for advisors looking to break away from a captive model without having to build a practice from the ground up.
While industry statistics pointing to a succession crisis can cause alarm, advisor-owners should be free to consider a middle path between staying solo and catching the surging wave of M&A.
New joint research by T. Rowe Price, MIT, and Stanford University finds more diverse asset allocations among older participants.
With its asset pipeline bursting past $13 billion, Farther is looking to build more momentum with three new managing directors.
A Department of Labor proposal to scrap a regulatory provision under ERISA could create uncertainty for fiduciaries, the trade association argues.
"We continue to feel confident about our ability to capture 90%," LPL CEO Rich Steinmeier told analysts during the firm's 2nd quarter earnings call.
Orion's Tom Wilson on delivering coordinated, high-touch service in a world where returns alone no longer set you apart.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today's choppy market waters, says Myles Lambert, Brighthouse Financial.
