Jim Ruta, president, AdvisorCraft Media and Consulting, asserts that you can boost your business, increase community and clients, and build a succession strategy all at the same time. He explains that new team members should be brought in to improve service and that succession strategy can build from within naturally.
Take the time to maximize the value of your business
Many advisors have difficulty accepting the inevitable
Vetting the buyer of your practice should be a key component of your exit plan
A young advisor set out to build a practice to which retiring advisors would be proud to transfer their clients. The result is a “virtual office” practice that serves a niche market and has low costs, growing assets under management and recurring revenue
A young advisor set out to build a practice to which retiring advisors would be proud to transfer their clients. The result is a "virtual office" practice that serves a niche market and has low costs, growing assets under management and recurring revenue
The period leading up to your succession is not a time to slow down rather, work harder to increase the value of your business. And you have to make sure your team members are planning to stay on board through the transition
Almost everything that's written and presented on the topic of succession planning offers advice to advisors who are leaving the business. But the role of the successor can be difficult if both parties fail to plan properly
Advisors looking to buy a book of business have no shortage of options; however, they need to be aware of some key considerations
Advisory teams with more than US$500 million in AUM already control a disproportionately large share of the advisory market