Plan for the Future
Contingency and succession planning are critical to your advisory firm's success. Review the wealth of information.
All Articles
Why You Shouldn't Name Your Firm After Yourself
From Finacial Advisor IQ
Added on November 2013 in Plan for the Future
1 visitor like this article | Viewed 106 times | 0 comment
Summary: When veteran financial advisors Eric Clark and Cheryl Sherrard were trying to come up with a moniker for their new practice, they were determined to keep their names out of it. “We didn’t want the brand tied to anyone in the firm,” says Clark, president of 10-month-old Clearview Wealth Management, a practice in Charlotte, N.C., with about $52 million under management. “You have to think ahead 10 or 25 years, when the people now involved may be retired or even at other firms.”
What must a succession plan entail?
From InvestmentNews
Added on October 2013 in Plan for the Future
1 visitor like this article | Viewed 101 times | 0 comment
Summary: Rebecca Pomering, chief executive of Moss Adams Wealth Advisors LLC, helped somewhere between dozens and hundreds of advisory firms develop succession plans during her 11 years as a management consultant for Moss Adams LLP. Now she heads up the firm's strategic-planning and growth objectives. Her firm doesn't have a succession plan document, but its six partners all have identified successors whom they continually train and develop, Ms. Pomering said.
Evolution of Value Creation
From aRIA
Added on October 2013 in Plan for the Future
1 visitor like this article | Viewed 104 times | 0 comment
Summary: Business-planning challenges such as succession planning, gaining scale and maintaining growth may not be acute today; however, if advisors choose not to plan for their future, they may fall into the land of unintended consequences, including degradation of firm value, limited growth, an aging client base and limited choices/control about the future of their business.
Finally a Simple Succession Planning Solution to Help Advisors Care for Loved Ones and Clients
From Pinnacle Advisor Solutiions
Added on October 2013 in Plan for the Future
1 visitor like this article | Viewed 102 times | 0 comment
Summary: Much has been written lately about the aging of individuals who own RIA firms and the lack of succession planning that has been done by this group. Now sensitive to the problem, we are not only realizing how important the solution is for the future success of the firm, but also how difficult it can be not just for large firms like our own, but even more so for smaller firms with fewer options.
Succession Planning Requires Immediate Attention
From Financial Planning
Added on October 2013 in Plan for the Future
1 visitor like this article | Viewed 107 times | 0 comment
Summary: For financial planners, succession plan, or lack there of, merits attention regardless of the amount of assets they manage. Clients care about who will takeover their assets if something happens to their advisor.
