Knowledge and Insight > Plan for the Future

4 Out of 5 Financial Advisors Have Not Done This--But They Should

Steve Sanduski | LinkedIN Pulse, November 2015

Summary: Depending on what survey you read, as few as 1 out of 5 financial advisers have a binding and credible succession plan in place. The lack of one could cost you and your heirs millions of lost dollars and is a disservice (and some would say a fiduciary breach) to your clients. Ask yourself, if you die tomorrow, will you feel good about how well your clients will be taken care of and how well your heirs will be compensated?

Succession planning is like exercising. You know it’s good for you but it’s easy to put off until tomorrow. Unfortunately, sometimes we don’t get tomorrow. Sometimes life throws us a curve ball when we were expecting a fastball. That’s why it’s critical to establish continuity and succession plans for your business—today.”