Home Practice Insights What is your succession plan?

What is your succession plan?

by The 100 Companies

The average age of a financial advisor in the U.S. is 52. It is widely reported that over the next decade, 35+% of advisors will be retiring in this industry.

The convergence of these two projections means this:

• Senior advisors will need to start crafting succession plans sooner rather than later to effectively transition their businesses over a typical, multiyear agreement.

• High-quality book valuation of advisor practices will be a critical component to determine selling price.

• Young advisors will have an astronomical opportunity to acquire lucrative books and secure their viability for the future.

Do you have a succession plan?

– Michele Mandeville, The Financial Advisor 100

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