Hiring a junior advisor early on with the intention that he or she will take over your business has many advantages. Your clients will be assured that their needs will be met after you retire
Putting standardized practices in place that a buying advisor could assume easily is a key way to maximize the value of your financial advisory practice
Keeping your clients in the dark threatens your practice
Online education program focused on the challenges that family business owners face
here are some universal considerations that apply to succession planning, regardless of the size of the firm. But planning your departure from the top position at a larger organization poses some special challenges
Introduce your successor and clarify new roles
Make sure staff members are informed about what lies ahead
In part 10, George Hartman, managing partner with Elite Advisors Canada, discusses the importance of having a written succession plan and what should be included in the document.
In part nine, George Hartman, managing partner with Elite Advisors Canada, explains what determines the value of your practice, and what do to maximize the value of your business before you put in on the market.
In part eight, George Hartman, managing partner with Elite Advisors Canada, gives tips for getting the best price for your business, including how to approach valuation and position your business for sale.