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Summary: My consulting business has the exact opposite problem of most independent advisory businesses. In my business, I tend to spend more time on the business — thinking about new ways to help advisory firm owners and how to get that information out to more of them — than I do working in my business.
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Summary: Like the cobbler whose children have no shoes, many financial planners have not planned for their own retirement. A new study released by the Financial Planning Association in partnership with Janus Henderson reveals that 73% of financial advisors don’t have a written succession plan, including 60% of those within five years of retirement.
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Summary: Financial advisers continue to find succession planning difficult, with 73% not having a written plan in place, according to a new study by the Financial Planning Association and Janus Henderson Investors.
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Summary: Recently I’ve asked top-performing advisors this simple question: To build a high-performance team, which of these three factors is the most important.
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Summary: While all advisory firms have to come to grips with succession planning, smaller RIAs are especially vulnerable to taking a big financial hit if they don't have a strategy in place for the loss of a principal.
