 Your business is like a tree and all those leaves represent clients. Leaves have various strengths [as to] how tightly they’re attached. A merger is like taking the bottom of the tree and shaking it.”Greg Friedman of Private Ocean. |
An Unromanticized Guide to Merging Advisory Firms
Gil Weinreich | Think Advisor, December 2013
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Summary: Succession planning, like one’s mortality, is something advisors are often reluctant to think about. But just as your clients need to get their affairs in order in case untimely but far-reaching events affect the lives of their loved ones, so too must advisors have a succession plan in place — for solid business reasons in addition to mere contingency planning.
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