Summary: According to a survey conducted by TD Ameritrade Institutional, more independent registered investment advisors (RIAs) are making the move to develop a formal succession plan and most say they will identify an internal successor. According to the quarterly survey of 502 RIAs, 62 percent of advisors say they have or are in the process of developing a succession plan, up from just 43 percent in2010.
 With the average age of survey respondents being 54 years, there is clearly an immediate need for formal succession planning, We’re encouraged by the survey results which show advisors are taking steps to create formal succession plans. They are concerned about who is going to care for the business they’ve built and the clients who depend on them.”George Tamer, director, strategic relationships, TD Ameritrade Institutional |
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