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Summary: The St. Louis-based Moneta Group knows a thing or two about creating a lasting business: The registered investment adviser started as an insurance agency in 1869. Still, when it realized four years ago that many of its top people would be retiring in the next decade, the firm intensified its focus on succession planning. The firm's chairman, Peter Schick, now 67, developed a succession plan for his advisory team, which centered on mentoring younger advisers and providing the resources necessary to become principals.
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Summary: Like many financial advisers in the Southeastern United States this week, Jennifer and Phil Calandra closed the doors to their Atlanta-based advisory firm on Wednesday and Thursday and operated from their home.The Storm provided a chance for many firm like theirs to live test their emergency preparations.
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Summary: Get your happy on. Generation X may be more prepared for retirement than you've been hearing.Then again, maybe not. Late in 2013, Wells Fargo released its annual Middle Class Retirement Study. Included in the findings was the news that "middle-class Americans in their 30s seem to have the most realistic overall outlook for retirement."
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Summary: Generation X is like a surfer poised to catch a giant wave of income and inheritance. But they're hanging 10 without any professional help — and that's where advisers have an opportunity to leap aboard and keep them from wiping out.
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Summary: While many financial advisors would prefer to have someone within their practice take over upon retirement, not enough are prepared for the internal succession planning process, Kelli Cruz, the founder of Cruz Consulting Group told advisors here during a presentation on Monday at IMCA's Consultants Conference.
