Succession planning in a financial advisory firm is vital to long- term success and growth, according to Richard C. Salmen, a certified financial planner and senior vice president and senior advisor of GTrust Financial Partners in Overland Park, Kan.

“It reminds me of what I was told when I was a young second lieutenant in the army. You can’t move on to your next job until you’ve found your replacement,” he said. “My firm cannot continue to grow and prosper and I can’t continue to grow in my role” without other people to take on important jobs in the business.

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