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On Wall Street August 1, 2009 Denise Federer |
Succession Planning: The First Step in Preserving Your Legacy Do you have a formal plan to prepare your successor and ensure the continuity of your financial practice? Or are you one of the 65% of business owners who haven't planned that far ahead?  |
Financial Planning July 1, 2005 David Grau |
The Right Exit Option Should you sell your financial planning practice to an internal or an external buyer? Each strategy has its advantages.  |
Financial Planning August 1, 2008 David Grau |
Worthy Successors In the financial services industry, the general term "succession planning" describes any number of plans to deal with an owner's departure from the business.  |
Investment Advisor December 2006 Charles Goldman |
Do It Now; Do It Right It's important for financial advisors to look ahead and ask the question: How do you plan to exit the business? If you're not sure, it's time to consider your options -- sell externally or internally -- and create a business transition plan that spells out the future of your firm.  |
Investment Advisor July 2010 David DeVoe |
Succession Planning: Planning Your Future Tips for financial advisors on choosing a successor, valuation, informing clients, etc.  |
Financial Advisor November 2011 Joni Youngwirth |
Outside The Box The pros and cons of choosing an external successor.  |
Financial Advisor September 2006 Kristofor R. Behn |
Seller Beware Is selling a financial planning practice to an outsider the best way to extract its true value?  |
Financial Advisor October 2010 David Lawrence |
A View From Both Sides To successfully retire, financial advisors have to carefully plan and develop a clear direction before taking action.  |
Financial Planning September 1, 2006 Stephanie Bogan |
The Boss Can't Let Go Why your senior advisor is dragging his feet about turning over the reins of the financial advisory firm -- and what you can do about it.  |
Financial Advisor October 2011 Joni Youngwirth |
The Replacements The pros and cons of choosing an internal successor.  |
Financial Advisor December 2009 David J. Drucker |
Solo Replacement Finally a (nearly) foolproof succession game plan for 85% of the profession.  |
Investment Advisor March 2006 Mark Tibergien |
Formulas for Success: Preparing for the Fall Are you succeeding at succession? This question increasingly comes up as advisors see each month flip away, and each year change a digit. In the autumn of your career, are you prepared for the inevitable?  |
Financial Planning September 1, 2010 Daniel Seivert |
The Nominees Are... It is common for executives of wealth management firms who are in the process of developing succession plans to become bogged down by all of the considerations that go into selecting a potential successor.  |
Registered Rep. July 24, 2014 David Grau Sr. |
Charting Your Succession Course The author delineates the usual alternatives for selling an advisor practice.  |
Registered Rep. June 1, 2004 John Churchill |
Keeping Family Businesses in the Family It's not news that mixing family and business can be messy, but advisors might be surprised to know the extent to which family-owned businesses need their services.  |
On Wall Street October 1, 2011 Todd Colbeck |
Five Steps to a Smart Succession Plan As sure as the fact that today you are a financial advisor, some day you will leave the business. And the wisest course of action is to prepare for a succession plan years before you leave your practice.  |
Investment Advisor July 2010 Olivia Mellan |
Succession Planning: Pass It Forward The angel is in the details when it comes to the tricky business and interpersonal issues of succession planning.  |
Investment Advisor March 2009 |
The Shoeless Cobbler There are many common issues, both personal and professional, that are keeping today's advisors from properly preparing for their own retirement and succession planning.  |
Investment Advisor May 1, 2011 Mark Tibergien |
The Constituency Conundrum How will your business decisions impact those who rely on you?  |
Financial Advisor June 2012 Karen DeMasters |
Succession Survival Guide Advisors plan for their clients' futures but often ignore their own.  |
On Wall Street April 1, 2012 Denise Federer |
Are You A Succession Saboteur? Adjust your plan as necessary so that you can fulfill your commitment to securing not only your future, but the future of the people that you care about: your clients, your team and your family.  |
Financial Planning January 5, 2008 Mark Penske |
Land of Uncertainty Although it can seem like an impossible task to find the right successor for your financial advisory business, stories and experiences from those who have crossed this line confirm that there is life after the big decision, both short and long term.  |
Financial Planning November 1, 2007 David Grau |
Protecting Equity As independent advisors move to evaluate, build and realize the equity in their growing practices, one holdover succession practice threatens to undermine their progress.  |
Registered Rep. March 1, 2007 Ayres & Jones |
It Takes a Team When helping a family-owned business develop a succession plan, the financial advisor must act as the quarterback (checking his ego at the door) to get all the right people to cooperate.  |
Financial Advisor May 2008 Rebecca Pomering |
Adding New Owners Internal transition is the desired growth plan and succession plan for the vast majority of advisors and good planning, strategic thinking and thoughtful implementation will allow many to enact a transaction that ensures the desired outcomes for their staff, their clients and themselves.  |
Financial Planning March 1, 2011 Roger Verboon |
Succession Planning: Moving on Advisors excel at helping clients plan for the different stages of their lives. But when it comes to planning for stages of their own business lives-particularly the last one-many fail to take their own advice.  |
Financial Planning September 1, 2006 David Grau |
Internal Affairs For the small financial planning practitioner, selling to an employee is a daunting challenge that most owners never understand -- until it's too late.  |
Financial Planning January 1, 2007 David Grau |
The Impact of Taxes When it comes to taxes, financial services practice succession isn't always well planned. What you don't know can hurt you, at the worst possible time.  |
Investment Advisor September 2010 DePardo & Inveen |
People and Pay: Use the Lebron Rule of Retention An aggressive and proactive talent retention strategy is key to winning performance.  |
Financial Advisor February 2008 Rebecca Pomering |
Adding New Owners Across the industry -- and in the minds of most advisors -- the debate between internal and external succession continues. Read on for some pros and cons on this important issue.  |
Financial Planning May 1, 2012 Glenn G. Kautt |
Transitions A few years ago I surveyed nearly 1,500 business owners about succession planning. One quarter - working as individuals and billion-dollar revenue firms - told me their succession plan was to die at their desks! Does this sound familiar?  |
Registered Rep. February 1, 2003 David A. Gaffen |
The Business Handoff An estimated 30 percent of financial professionals are expected to retire in the next five years. That mini-exodus should brings the issue of succession planning to the fore.  |
Investment Advisor July 2010 Olivia Mellan |
Olivia's Advice on Succession Planning Creating a succession plan now will create greater serenity and security for yourself, your family, your employees, and your clients.  |
Investment Advisor October 2005 Grau & Grable |
The Wisdom of the Crowd Yes, buyers are paying more for financial advisory practices. But we can learn much from these wise buyers.  |
Commercial Investment Real Estate Sep/Oct 2015 Mary Stark-Hood |
Succession Planning According to a 2014 Financial Planning Association Survey, the greatest financial challenge facing small business owners is developing a retirement plan and exit strategy.  |
Registered Rep. January 1, 2005 John Churchill |
Nothing Succeeds Like Succession Whatever type of succession plan you create, you're really creating a growth plan, providing for continuity of the business and for clients. Advisors need to see it that way, instead of an end or an exit.  |
Financial Advisor April 2010 Joni Youngwirth |
Be Prepared What to consider when thinking of selling your practice.  |
Registered Rep. December 29, 2010 Anne Field |
Succeeding At Succession A quarter of firm owners lack an exit plan, according to a 2009 survey by Rydex/SGI's AdvisorBenchmarking. And more than one-third don't have a timeline for when they're going to leave the business.  |
Registered Rep. September 26, 2014 Mindy Diamond |
Take the Sunset Package or Sell the Business? For employee advisors, exploring your firm's sunset program might be a sound way to face retirement.  |
Registered Rep. July 1, 2013 Phillip Flakes |
Selling Point Many advisors are coming up on their golden years, but as hard as it is to make the decision to move on, it's even harder to actually sell. Here's a game plan.  |
Investment Advisor July 1, 2011 John Sullivan |
Finding Success in Succession Planning Whether you're affiliated with a broker-dealer or completely independent as an RIA, proper succession planning helps you realize value long before you walk out the door.  |
Financial Planning April 1, 2010 Deena Katz |
Set Up for Succession Succession planning is not just a personal transition; it is very much a practice transition as well. The success of the person you select to follow you depends upon how well you have prepared to hand off your practice management functions.  |
Financial Planning September 1, 2009 Hamburger & Walter |
The Missing Piece Succession issues arise with every business, but they're more personal and are subject to more emotions in an entrepreneurial, closely held, professional services firm.  |
Registered Rep. December 16, 2013 Mindy Diamond |
Coming Together One way for advisors to be prepared in the event of something going wrong is to team with other advisors.  |
Registered Rep. June 18, 2014 Matt Oechsli |
Building a Multigenerational Wealth Management Team The most common exit strategy for a veteran advisor getting ready to retire is to sell his or her book according to the guidelines established either by their firm or industry valuations standards.  |
Registered Rep. March 30, 2011 Matt Matrisian |
Bridging the Succession-Planning Gap Too many advisors need help planning their financial futures. Today, only about 18 percent of independent advisors have a well-defined business succession plan that is ready to implement.  |
Registered Rep. July 9, 2014 Diana Britton |
It's a Seller's Market If you don't already have plans to sell your practice, now's a good time to consider it.  |
Knowledge@Wharton August 27, 2003 |
Family Ties: Succession Seen Through a Successor's Eyes Like monarchies, one of the thorniest problems family firms face is succession. Over the years, academics have explored factors that can smooth the succession process for family firms. A second-generation successor talks about how the process has gone.  |
Registered Rep. February 25, 2013 Furey & Cooper |
What Is Your Advisory Practice Really Worth? The perils of the valuation gap.  |
Financial Planning June 1, 2005 David Grau |
An Overlooked Legacy As much as buying or selling a financial advisory practice is about change, continuity is critical. That means keeping systems, processes, and clients in place.  |