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The Elements of a Successful Succession Plan

From Advisor Perspectives
Added on September 2013 in Plan for the Future
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Summary: The article reviews the important questions for succession and growth. Ask the right the questions of yourself and your potential partner or new hire. The right questions are as important as finding the right answers. Understand that people are not puzzle pieces and acknowledge that it is a relationship you seek to build. This will impact your approach. Thank you to Advisor Perspectives and Beverly Flaxington for inviting me as a guest columnist.

Fidelity Launches Program to Help Advisors With Succession Planning

From Financial Planning Magazine
Added on June 2013 in Plan for the Future
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Summary:  “Fidelity...has introduced a program to help advisors create and formalize a succession plan.” These workshops include group and personal exercises as well as succession toolkits with worksheets and other resources to aid advisors in the creation and implementation of their succession plans.

David DeVoe, Schwab's RIA M&A chief, leaves to start his own shop

From RIA Biz
Added on June 2013 in Form an RIA
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Summary:  In November of 2011, David DeVoe left Schwab to set up his own M&A consulting business.  DeVoe wasn’t getting enough hands-on work at Schwab and believed a significant opportunity  existed to actively engage throughout the entirety of an M&A deal. 

At this posting, June 2013, David has a staff of 3 and has had 50 engagements in the past 18 months. David’s entrepreneurial instincts coupled with his M&A talents have paid off and our advisory community is benefiting.

M&A Among RIAs Drops

From Wealth Management
Added on June 2013 in M&A Issues
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Summary: M&A activity for the first quarter of 2013 is off to a slow start according to Schwab’s report. An increased number of RIA firms are looking to buy and a decreased number are looking to sell. David DeVoe of DeVoe and Company expects to see over 100 external sales per year. The article postulates that sellers are waiting for “the right environment.”

Four Questions you Should Ask about Succession Planning

From Investment News
Added on June 2013 in Plan for the Future
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Summary: Scott Feraro, Founder of Pepin Consulting, poses 4 questions to consider as you begin to developing or assess your succession plan.  A well-designed succession plan is critical to a firm’s continual success, but it’s hard to implement until it is completely finished. Succession planning includes developing and implementing the strategy, structure, processes and talent required to ensure the highest likelihood for the long-term sustainability of your business.

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