 Ultimately, it is difficult to let go of the reins or take a passive role in an organization you once led, but the firm depends on it, and it’s what’s best for your future happiness."Brandon Odell, head of business consulting,The Ensemble Practice. |
Follow These Tips for a Smoother Succession
Brandon Odell | Financial Advisor IQ, March 2014
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Summary:When preparing to sell your practice, understand that transitioning from the business will require years of time with no shortcuts. There is a strong correlation between the amount of time one gives to succession and the seller’s satisfaction with the price and outcome of the exit.Don’t let a lapse in time commitment hurt your succession plan and diminish the value of the sweat equity you have accrued.
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