Plan for the Future
Contingency and succession planning are critical to your advisory firm's success. Review the wealth of information.
All Articles
Internal or external succession: What's right for you?
From InvestmentNews
Added on March 2014 in Plan for the Future
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Summary:With so many advisers contemplating retirement, the chatter about succession options has become constant. Forget valuations, terms of the deal and buy/sell agreements. Far before you get to that point, you need to anticipate what the future business could and should look like. Do you want the firm to continue without you (internal succession), or do you want to sell your business to another firm (external succession)? Each approach has its pros and cons.
Vonnegut: Pieces of an Advisory Dream Team
From Wall Street Journal
Added on March 2014 in Plan for the Future
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Summary: You're on a team of financial advisers. You're successful. You know what it takes to find clients and manage their money in a careful, respectful way. In the world of private wealth management--where everything works and nothing works--you repeat your go-to moves over and over again. Yet, you ask yourself: "Do we need a new partner?" Norb Vonnegut describes a few roles that people play on successful teams.
The adviser industry is shrinking (and why that's a good thing)
From InvestmentNews
Added on March 2014 in Plan for the Future
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Summary: Much has been made of the crisis facing the financial adviser industry as aging advisers exit and the industry searches for younger advisers to step in. According to the latest from Cerulli Associates Inc., over 100,000 advisers are projected to leave in the next ten years — a full third of the industry. Just like in every industry, there is a natural evolution of growth, maturity and then a disruption or tipping point, often caused by technology, that transforms it to take on a different shape and direction.
What Advisors Think About Succession Planning in 6 Bullet Points
From Pinnacle Advisor Solutions
Added on March 2014 in Plan for the Future
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Summary: The topic of continuity/succession planning is on everyone’s minds these days. Aggregators see an opportunity to acquire additional assets. Young advisors see an opportunity to grow their firms. Custodians want to ensure those assets remain in their custody despite any change of control.
Wirehouses sweeten succession deals for retiring advisers
From InvestmentNews
Added on March 2014 in Plan for the Future
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Summary: As competition for the assets of retiring advisers heats up, the wirehouse firms have been updating their succession programs for aging advisers. This year, the big four are knocking the dust off old succession programs and revamping them with new names, higher payouts and lower barriers to entry.
