 The sooner advisors begin the process of planning for succession, the more time there will be to ensure the right decisions are made and the right people are involved along the way."Greg Friedman, President and Founder, Private Ocean; Junxure. |
Overcoming RIAs' Top 4 Business Hurdles: Succession Planning
Greg Friedman | Think Advisor, March 2014
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Summary: If 2013 was the year financial advisors started thinking about their succession plans, this is the year to start the actual planning. One of the biggest (and possibly most common) missteps in succession planning is procrastination. While the average age of the advisor continues to rise (mid-50s and counting) the competition for talented young planners has become fierce and the idea of M&A seems more and more attractive.
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