Experience a Smooth Transition for Your Financial Advisor Business
In succession planning, time is either your ally or your enemy.
You can spend time planning for succession during your active business life, or postpone planning and risk losing everything when the choice is no longer yours.
Richard Packer can guide you as an advisor to ensure that regardless of expected or unexpected circumstances, a smooth transition can occur, and the full value for your practice can be realized. Succession planning should include the long-term goal of retirement, and also focus on unexpected events and contingency planning.
Similar to individuals who don't plan for retirement and therefore face a greater risk of missing their retirement goals — advisors who fail to begin planning early enough risk jeopardizing a successful transition.
Without a plan in place, you may not realize the full value for your practice when you're ready to transition or sell, especially if you're forced to leave the practice due to unexpected circumstances. Transitioning a practice under pressure doesn’t allow you to properly investigate options and alternatives, and can put you at a real disadvantage in negotiating the terms of a sale or buyout.
Whether you are interested in selling your practice in order to start your succession plan or are looking for the right team to start the process of filtering your client groups through segmentation, we can help guide you in finding the right team on your terms so that the transition is as smooth as possible.