 There is some urgency for advisors to develop a succession plan. This is due to the fact that the average age for advisors is over 50 and it can take 5-10 years to put a plan in place and groom a successor."David DeVoe, DeVoe and Co. |
Favorite Succession Plan of RIAs Remains the Same: None at All
Brooke Southall | RIABiz, October 2013
Read the article online >
Summary: Consultants and other experts have been advising planners that they need to start a succession plan as soon as feasibly possible. The advice doesn’t seem to be sinking in as 57% of advisors still say they do not have a formal succession plan. There are many roadblocks to forming a succession plan but there are some successful “boot camps” run by Schwab that aim to help advisors form a plan in a short period of time.
Be the first to comment on this Article
