“If clients ask what their succession plans are and if the answer is ‘Don’t worry about it I’ll live forever,’ that’s a terrible answer.”
Ruediger Adolf, founder and chief executive, Focus Financial Partner. |
Summary: Financial advisers as a group are aging and that means many of them are about to retire or transfer their practices to someone younger, just as doctors, dentists and other professionals do. But for clients who have worked with the same adviser for decades — and may be close to the adviser in age and outlook — the change could come just when they need that person the most: to help them financially manage their own retirement.
“If clients ask what their succession plans are and if the answer is ‘Don’t worry about it I’ll live forever,’ that’s a terrible answer.”
Ruediger Adolf, founder and chief executive, Focus Financial Partner. |
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