It doesn’t matter if retirement is five years away, ten years away, or even twenty years away or more. As a financial advisor, you know the importance of planning your retirement as early as possible. This allows you to…
One of the things we’ve discussed before on this blog is the importance of transitioning your clients smoothly to a new advisor. Not only is this a great thing for an up-and-coming advisor, it is the best…
Creating a financial advisor succession plan is more than just making a bulleted check list of things you need to get done before you walk out the door for the last time. There are a number of things that will…
As an independent financial advisor nears retirement, one of the biggest questions on their mind is going to be how much their firm is worth. Selling it for the right price can be the difference between their dream retirement and…
When it comes to selling a financial advisement firm, many financial advisors think they can do the job themselves. After all, they’ve made a career out of giving people advice on this very topic. But when it comes to…
Are you a financial advisor ready for retirement? Take our quiz to find out if you have the right plans put in place. Question 1: If you retired today, would your existing employees stay with your company? The right succession…
We’ve written recently about some of the rules the SEC is considering for financial advisors concerning their succession planning. These plans include making succession planning a mandatory activity for all registered financial advisors as well as having a business…
We recently discussed the costs associated with business continuity and succession planning, as outlined and estimated by the SEC’s proposed rules. The SEC is estimating up to $1.5 million in one-time costs and up to $375,000…
When the SEC released their proposal to enforce succession and business continuity planning, they also looked at what it might cost a financial advisor to put these plans in place. They looked at the one-time costs as well as…
One of the RIA succession planning methods we often see financial advisors use is bringing up a successor from within the ranks of your business. This can be a really effective method if you have the time to make that…
When you start to think about your upcoming retirement and how to make a financial advisor succession plan that works for you, your clients, and your staff, you are likely to start looking for examples of what other advisors have…
Some financial advisors put off their retirement because they can’t imagine life without their career. Financial advising is, to many in the industry, much more than just a job. It’s a passion and a calling, and you get…
