To protect your clients, your staff, and your legacy, you must put together a suitable succession strategy years before you plan to make your exit
Find out how your practice compares to others in the market
Although many survey respondents are not ready to retire, they know it is a reality they must face
Don’t skip the usual hiring investigations
Help clients get the ball rolling early; don’t focus too much on the numbers
Being related doesn’t mean it will work
George Hartman, managing director at Accretive Advisors, explains why it’s important to communicate your succession plan to stakeholders at every stage of the process. Let our clients, partners, staff, dealer firm and family know how your plans will affect them. He spoke with Gavin Adamson at the TMX Broadcast Centre in Toronto.
Most advisors wait far to long to implement a succession plan, says George Hartman, managing director at Accretive Advisors. A good plan can take several years to perfect and put in place. Hartman outlines what needs to be done and how long it will take. He spoke with Gavin Adamson at the TMX Broadcast Centre in Toronto.
George Hartman, managing director at Accretive Advisors, continues his discussion of succession planning for advisors. In choosing a successor, he suggests you consider how you want your clients to be treated once the business is transferred. This will allow you to identify and evaluate candidates based on how well they meet the needs of your clients. He spoke with Gavin Adamson at the TMX Broadcast Centre in Toronto.
Finding an internal successor is by far the preferred exit strategy, cited by half of advisors, followed by selling the practice