Is Your Succession Plan a Fiduciary Breach?

While the wealth management industry has been enjoying incredible growth, one of the fastest-growing segments has been independent RIAs, many of whom are regulated by the SEC and held to a fiduciary standard.

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Comments (2)
Seems to me if the advisory firm is process driven (well documented, defendable, repeatable) rather than personality driven succession planning is more straightforward. Also seems to me if that process is scalable the multiple is higher. Not dreaming this up... if you look at asset management industry- they figured this out a long time ago.
Posted by Pat M | Friday, August 15 2014 at 11:27AM ET
Disclosure and client consent are the cornerstone when dealing with fiduciary responsibility in the instance of succession or otherwise. There are ample opportunities to satisfy disclosure/consent requirements with clients in writing and to protect the asset manager-fiduciary.
Posted by dan k | Thursday, July 09 2015 at 2:13PM ET
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