Summary: Two stories, one in the broker dealer world, one in the RIA space.
Kim Nourie, of San Antonio-based Cross Financial Services became her father’s succession plan and found her successor through her local FPA chapter. Their broker dealer, United Planners Financial Services has a platform called Connectup to help their advisors.
Like Nourie, Aspiriant CEO Rob Francais says the RIA’s succession planning policy was born of necessity. The firm, with 42 owners and 120 employees, has a structured policy in place for associates to achieve equity and security, but it wasn’t always the case.
 The one thing I would say about succession planning is that if you’re going to ask people to buy into the organization, then you have to increase the formality with which you operate.It sounds counterintuitive, but if [owners] really want to optimize their value, they should begin sharing it sooner than they would like.” Aspiriant CEO Rob Francais |
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