Brian counsels, “You also want to consider what resources you have. How well-capitalized this endeavor is going to be? Are your finances tied up or do you have money to spend on this transition? What’s going to be your budget for going out and creating this business?” The legal can’t be separated from the practical in this case, and so a lot of the issues you need to evaluate are going to have legal implications. By conducting a thorough assessment of an existing client base – focusing on the products and services clients need and want – an advisor can begin building a strategic plan that charts their vision and best serves the clients.
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