3 Obstacles to Smooth Successions

Summary: The first step of succession planning is recognizing you have a problem: you are not going to live forever. Advisors often think they will work until they die, ignoring the high probability that an illness or disability could cause them to leave the business before they leave this earth. Succession planning is like retirement planning for clients: the longer you wait, the fewer options you have for transitioning the business when you need or want to.