The strength of your legacy will have less to do with a firm's branding than with the quality of the relationships you leave behind.”
Joni Youngwirth, managing principal of practice management, Commonwealth Financial Network.
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Internal or external succession: What's right for you?
Joni Youngwirth | InvestmentNews, March 2014
Read the article online >Summary:With so many advisers contemplating retirement, the chatter about succession options has become constant. Forget valuations, terms of the deal and buy/sell agreements. Far before you get to that point, you need to anticipate what the future business could and should look like. Do you want the firm to continue without you (internal succession), or do you want to sell your business to another firm (external succession)? Each approach has its pros and cons.