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Summary: Succession planning is a hot topic in the independent advisory world these days, and many older owner-advisors are thinking about, or working on, succession plans. While there’s been a lot written on creating workable succession plans, and some written about preparing junior advisors to become firm owners, we’ve seen very little about preparing firm owners to work with new owners.
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Summary: If you can count yourself among the minority of advisers — about 40% — who are within five years of retirement age and have created a succession plan, you're all good, right? Maybe?
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Summary: Succession planning isn't just about advisors realizing value for the businesses they've built. It's about protecting and ensuring that clients' needs are met and that the practice can remain an ongoing business after its founder has retired or passed away.
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Summary: The Securities and Exchange Commission is working on a rule that would require investment advisers to develop a continuity plan for their practices that would go into effect when they leave or become incapacitated, agency Chairman Mary Jo White said Thursday
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Summary: In recent years, there has been an increasing focus on succession planning, and an explosion in the number of consultants providing advice on merger and acquisition deals, and metrics about the deals themselves. Yet thus far, almost all of the guidance and "best practices" offered regarding succession planning focus almost exclusively on the veteran planner who is selling the business, and doesn't necessarily consider the buyer's perspective.
