Financial Advisor Succession Planning
Every owner of a financial advisory practice should participate in the development of financial advisor succession planning before they are actually ready to leave--or retire from--their practice. Your years of hard work and exemplary service to clients make you an invaluable part of your office. Therefore, it is your responsibility to plan for eventual succession by creating and executing a plan to account for your planned or unplanned departure.
We help adviserXchange clients interested in succession planning develop and execute a plan that is customized to their goals and objectives. We start the process of helping you plan your eventual exit from the company by having you complete one of our succession profiles. This profile helps us assess your existing practice and determine your primary goals and objectives with the practice as well as your desired timetable for succession.
Intelligent Financial Advisor Succession Planning with AdviserXchange
The succession planning process at adviserXchange can follow two distinct paths: An advisor can develop a succession plan strategy "with" or "without" a specific departure date. Regardless of your objective, we can help you develop and execute a plan that works for you--including a gradual succession that allows you to work a limited number of hours per week while helping your successor deal with the nuances of a successful longer term transition.
Your firm's succession plan should not focus entirely on your future with the company when you have a significant partner as well. If this is the case, in addition to assisting you with your own retirement transition, we can also help in developing a succession plan for a significant partner in the practice who is planning to retire from your firm in a similar fashion. Thus, all of your firm’s transition needs can be addressed simultaneously with the assistance of adviserXchange.
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