Financial Planning senior editor Donna Mitchell says financial advisors are particularly skilled at helping their clients define how their financial lives are -- and should be -- structured. If only they were able to do the same for their practices.

FA Insight, the Tacoma, Wash.-based research firm, found that some principals of registered investment advisor firms do not clearly define their firms’ organizational structures. It hinders their ability to give clear blueprints and roadmaps for success to their staff members. Over the long term, that cloudy sense of an organization’s framework can present challenges when an organization wants to groom future leaders, and its principal and founders want to map out succession plans, Dan Inveen, FA Insight’s principal and director of research said during a telephone interview.

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