 A lifestyle retirement plan based on an internal-ownership transition is the most lucrative and, not surprisingly, most popular succession-planning strategy in the industry today. Not only does it provide a high level of control and the ability to perpetuate the founding owner's revenue for a generation to come, it also builds a stronger, more stable, more valuable business,” he said. ”David Grau, president of FP Transitions, an investment bank for financial services firms |
For succession to be success, advisers must face their fears
Lavonne Kuykendall | Investment News, February 2012
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Summary: Writing a succession plan isn't too difficult. Overcoming the concerns that inhibit advisers from tackling the project in the first place is. The chief stumbling blocks that stand in the way of advisers' creating a plan include concerns over sharing client records, fears about giving up control and getting past the anxiety of dealing with younger advisers. It also takes much longer to plan and execute a succession than generally thought.
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