A succession plan is vital to all, whether it's the firm's founder, the employees or the clients who have placed their trust with the firm.» Read More
When a company's top dog is famous, succession planning can be tricky. A look at 5 corporate icons who were, or will be, hard to replace.
Savvy financial advisory firms can become more successful by hiring and retaining the next generation of planners.
Investors need to ask advisors about their succession plan and how it impacts them in the event of unforeseen circumstances.
Financial advisors have shifted to fee-based relationships but, without successors, risk seeing their businesses dissolve when they retire.
The financial advice industry faces shortages, but colleges are launching degree programs in financial planning to fill the training gap.
An inability to attract young people is challenging a financial advisory industry facing a wave of advisor retirements in the next two decades.
Succession planning isn't easy for financial advisors. It takes a long time—five to 10 years—and it's emotional and messy. But it's also critical.
As aging advisors retire and few young replacements enter the industry, FAs without succession plans put their retirement, and clients, at risk.
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Founder and CEO of Financially Wise Women, an investment advisory specialized in helping women and couples meet financial goals.
Richard Coppa is managing director of Wealth Health, advising high-net-worth executives and business owners.
Mark Cortazzo is senior partner and founder of MACRO Consulting Group.
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