Advisors Who Have Executed Successful Transitions Offer Advice For Those Just Beginning To Plan

Wednesday, May 09, 2012 11:43
edit
Advisors Who Have Executed Successful Transitions Offer Advice For Those Just Beginning To Plan

Tags: Advisor businesses | NAPFA | succession planning

As the average age of advisors increases, sharing experiences in exiting the business becomes more valuable. More advisors are developing and executing successful business succession plans. Voices of experience shared succession advice at the recent NAPFA conference, noting that there’s more than one path to a successful transition.

This Website Is For Financial Professionals Only


 
Three basic ingredients were identified for success. Allowing sufficient time to make sure the plan accomplishes what you wish, finding the right person to take over your business, and being willing to compromise offers advisors the best options for exiting their businesses satisfactorily.
 
Investing the right amount of time and energy can increase the value your business brings and can be a huge factor in your ability to enjoy the next phase of your life. It also can ensure ongoing success of your business if you continue to retain a financial interest.

Comments (0)

Write comment

You must be logged in to post a comment. Please register if you do not have an account yet.

busy